The paper "Global Consumer Behavior" is a wonderful example of a Marketing Case Study. This section seeks to explore various factors that affect consumer behavior in making their purchase decisions. Consumer behavior is the buying behavior of prospective consumers. It is the selection, purchasing, and consumption of goods by the consumers. The customers select the product that can adequately satisfy their wants; they estimate the amount of money they can pay for the product and analyzes the prices of such products. There exist many specificities, factors, and characteristics that influence the customers on what they purchase for their consumption.
Customers are led to their culture, personality, social status, and psychological factors. These factors define how customers make various market decisions in their shopping habits. Cultural factors encompass a set of ideologies and values of a given group of individuals or communities. Individual’ s culture defines how the individual behaves. Whatever one learns from relatives and parents from their childhood becomes their culture. Culture is the values that define an individual. For instance, in countries like India, there is still joint family ties and system.
Children are supposed to stay at home until they marry or get married. This is different with other countries where children are allowed to be independent and detach themselves from their parent's ones they get employment. These cultural values possess a significant effect on the purchasing behavior of consumers. Every person has various beliefs, habits, and principles developed from their background that define their buying behavior (Lamb et al. , 2010). Every country has its culture that defines the buying behavior of its citizens. The marketer should be careful when analyzing various cultures.
For brands like gold, it is critical for the marketer to take into account and understand cultural factors that are inherent in every market for them to adapt their product and their marketing strategy. This plays a significant role in the habits, perception expectations and behavior of the consumers. The marketers should have up to date information on culture shifts and provide for their customers effectively. Culture is an essential factor that influences consumers’ behavior (Kardes et al. , 2014). Consequently, there exist several subcultures within the society that identify individuals.
These are groups of individuals who have the same beliefs and values based on their similar lifestyle and common experiences. Various cultures contain subcultures such as nationalities, religions, racial groups, geographic regions and many more. These groups can be used by the marketers in segmenting their business into various segments that can be able to provide for the needs and wants of every subculture (Kardes et al. , 2014). Culture defines how individuals make various marketing decisions in different countries, for instance in India, gold is considered to be a very crucial artifact, and it is used for various cultural values.
Huma et al. (2013) in their research found out that in India, the expatriates use gold artifacts to sustain their culture and show that they have not diverged from their original culture. The research further illustrates that the expatriates valued gold due to the link it has to their cultural community. Then it can be seen that gold possession constitutes culture and the role it has in various societal rituals, sustains the culture. According to Douglas and Craig (2006), these cultural rituals include customer behavior as well as other occasions such as marriages, religious holidays and festive seasons.
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