Essays on Influences of External Factors in Consumer Purchasing Behaviour of Banking Services Case Study

Download full paperFile format: .doc, available for editing

The paper "Influences of External Factors in Consumer Purchasing Behaviour of Banking Services" is a perfect example of a marketing case study.   Consumers make purchasing decisions depending on different factors. These factors direct their choices and in most cases, they have power and control to make independent choices while in other cases they are influenced by external factors. This paper discusses these external factors that consumers have no control over while making the decision to purchase banking services from one bank as opposed to another. In the modern world, there are many banking services that provide services to different consumers.

These services are, however; categorised in relation to different aspects hence affecting the independence of a consumer in adopting certain services over others. The exact number of persons involved in the purchasing decision of any given product increases in relation to the level of involvements and the complexity of the entire decision. The next section of this paper analyses some of the common external factors that dictate the selection of services. These external factors include the following; First, each and every consumer is a target of underlying cultural factors, which involves both culture trends and the societal environment.

Culture defines the needs and behaviours of every person. It forms part of every society and thus, it is a crucial cause of an individual’ s wants and specific behaviour (Krishna, 2011). Influences of culture vary from one county to another hence marketers of such products as banking services should understand the cultural trends of different groups or even regions as a way of ensuring relevant services are offered in the market (Krishna, 2011).

Throughout their lives, people will always be influenced by their families, friends and cultural environment that will enlighten them of certain preferred values, preferences and tastes related to their own culture (Krishna, 2011). For the case of banking services, individuals will always be influenced by their cultural trends in engaging with the service at hand. Families and relatives’ views and perceptions towards certain banks will determine whether an individual would go ahead and conduct business with it or not. All societies are made up of numerous sub-cultures for which individuals can identify and feel part of it.

Sub-cultures are composed of people that share similar values, which are based on a given common experience or lifestyle in general (Saha, Dey, & Bhattacharyya, 2010). Correspondingly, each culture contains distinctive subcultures that are inclined to aspects of religions, nationalities, geographical locations and even race (Patwardhan, Flora, & Gupta, 2010). Banking services will, however; not rely on nationalities and racial groupings but rather focused on religion. Nowadays, consumers making decisions on which banking service to pursue will be affected by their religious principles especially in cases where Islam is involved (Saha, Dey, & Bhattacharyya, 2010).

The Islamic principle does not all individuals to pursue contemporary banking services that allow for interest rates and profit-making. Thus, potential Muslims clients will rather seek services in Sharia banks where these principles are followed to the latter. It means that although Muslim clients might want to pursue their banks of choice they are limited by religion values to only seeking a certain decision path. Consumers will usually depict immense levels of reception to such services as well as in marketing strategies that have been specifically targeted at them.


Chung-Hoon, P. (2003). "Identifying key factors affecting consumer purchase behavior in an online shopping context", International Journal of Retail & Distribution Management, 31(1), 16- 29.

Krishna, C. V. (2011). Determinants of Consumer Buying Behaviour: An Empirical Study of Private Label Brands in Apparel Retail. Vilakshan: The XIMB Journal of Management, 8(2), 43-56.

Khosla, S. (2010). “Consumer psychology: The essence of marketing”. International Journal of Educational Administration 2(2), 220

Mothersbaugh, H. (2010).Consumer behaviour: building marketing strategy. (11th Ed). McGraw-Hill Irwin.

Minton. EA & Khale, LR. (2014). Belief systems, religion and behavioural economics. New York, Business Expert Press LLC.

Patwardhan, M., Flora, P., & Gupta, A. (2010). Identification of Secondary Factors that Influence Consumer's Buying Behaviour for Soaps and Chocolates. IUP Journal of Marketing Management, 9(1/2), 55-72.

Simcock, P., Sudbury, L & Wright, G. (2006). Age, Perceived Risk and Satisfaction in Consumer Decision Making: A Review and Extension. Journal of Marketing Management, 355-377.

Saha, S., Dey, M., & Bhattacharyya, S. (2010). Factors Affecting Consumer Buying Behaviour of Shoes in Kolkata: A Case Study. IUP Journal of Management Research, 9(4), 39-60.

Uchenna, U. J. (2015). The Impact of Consumer Behaviour and Factors Affecting On Purchasing Decisions. Global Conference on Business & Finance Proceedings, 10(1), 204-212.

Download full paperFile format: .doc, available for editing
Contact Us