It is the nature of any individual consumer or group, to purchase goods and services to satisfy their needs and wants; be it in supermarkets, shopping malls or even the mama mboga kiosks. These individuals are not just buying random items but are more prone to specific brands depending on the purchasing influence they get.
For any consumer-based company, understanding the underlying factors that cause a consumer to select and buy specific goods and services is key to their business. In a research done by Ipsos Kenya in 2019 focused on consumer mindset, most consumers make a satisfactory decision rather than a rational decision based on limited time, limited memory and limited intelligence and exposure.
Marketing factors such as product design, price, promotion, packaging, positioning and distribution is still very much considered as one of the main factors that influence a consumer’s purchasing behaviour. Consumers are now interested in items that deliver a variety of features along with quality. Not only do consumers want products that will be long lasting, but they also want reliable products.
Similarly, consumers are more attracted to added incentives: they want to experience something new and they will not shop unless there is an added advantage. Job stability and the current state of the economy also have an influence on one’s purchasing power. More individuals are on the lookout for how much things costs and will look for every alternative to save up some coins.
HubSpot Research and Survey Monkey conducted research this year based on social media preference and buying preference which stated that friends, family and Google top the list as the most trustworthy sources for discovering new products or services overall. Consumers prefer having real life experiences and examples from people they know well to inform their buying decisions which is mostly achieved through word of mouth or social media reviews.
It’s high time consumer-based companies move away from the traditional consumer behaviour assumptions they hold and really look into the consumer’s need and want more importantly focus on millennial consumers and tap into that market space.