Business Studies

Buyer and Consumer Topic 6 Q4 Distinguish between beliefs, values, and customs. Discuss the role of each in consumer behavior and include an example to of each to illustrate your ideas. In replies to peers, provide additional examples that build upon those in the initial posts.

ANSWER

Beliefs, Values and Customs

External influences play a critical role in consumer behaviour, and understanding them helps improve the performance of the business. Such external influences that help in the decision making and purchasing power of the consumer include their beliefs, values and customs. Every individual or group of people is influenced by certain beliefs, values, and customs that help shape their way of life. This aspect transcends into how they make their decisions when purchasing a product (De Mooji, 2019). For instance, beliefs and values are guides of behaviour while customs are the acceptable way of behaving. Specifically, beliefs are opinions that reflect an individual’s knowledge and assessment of a thing or concept. It is important to note that a belief can be learned and adopted after a period of time, especially by being around people who have a certain belief. Regarding consumer behaviour, Americans generally believe in the American Dream, that anyone who works hard is bound to be successful. The same belief is transferred to companies that portray the same spirit in fairness and honesty. Thus, consumers only buy from companies that practice fairness and appreciate hard work within society.

On the other hand, values help shape society by suggesting what is socially acceptable, beautiful and ugly, or what to be sought or avoided. America being an individualistic country rather than a collectivist one, people value their self-image as it represents who they are (De Mooji, 2019). Youthfulness is a value that is prioritized in the US; hence many consumers are bound to spend more on cosmetic products that help them feel and look young.

Value suggest how people should behave, and consumers value companies that reflect the ideal culture and honesty in their products. For instance, consumers are growing increasingly aware of companies that do not practice good social responsibilities like taking care of the environment, hence avoiding them.

References

De Mooij, M. (2019). Consumer behavior and culture: Consequences for global marketing and advertising. Sage.