Reaching the youth market in Europe: Euro Teens By Insert Your Name Presented to Course Institution Name, Location Date Due Social factors affecting purchasing decision making Social factors have become top influencing factors in the decisions that most of the consumers across the globe make in buying the various goods and services…
From this assertion social factors have a great influence on the consumers buying decision regardless of the market segment that individual or group of consumers are found (Vashisht 2005). In Europe notably, the influence of these social factors on the youth market segment across the various countries is evident based on the collected information and surveys in regard to the youth market behavior. This situation has attributed to most companies entering into this market segment because of its attractiveness and lucrativeness; thus, their key marketing techniques and strategies are mostly based on the major social factors that influence positively the buying decisions of the youths (Vashisht 2005). Teenagers and the young population are the major composition of the European markets whereby they are considered to have a staggering purchasing power attributed by their ability to work and that they are not burdened with the monthly bills in addition to this the major contributing factor is that young consumers in Europe have a great influence of their parents spending patterns in regard to their shopping needs and preference. The key notable social factors that marketers have materialized is notably from various companies mostly dealing with include clothing, shore wear fashions, food, beverage and technological gadgets have adopted for the purpose of influencing the purchasing decisions of the youths include; social class, reference groups, family influences among others (Vashisht 2005). These social factors influencing the youth market and their buying decisions in the European market can be examined and discussed as follows. Reference Groups This social factor refers to the various groups that the young European consumers belong or they are associated with certain group mainly the peer groups commonly referred to as social groups. These social groups referred to as reference groups in which the individual or group of youths in a particular market segment interacts with have both direct and indirect influence on their buying decision and their consumption patterns. It is notable that this factor has a great influence on the youths and the teenagers because they have a higher ability to decode the advertised marketing messages and because of the influence they have on their parents the younger generation easily spend on themselves and this has become a foundation on most of the youths reference groups (Vashisht 2005). The foundation of the youth reference group is a concept emphasized by many marketers because its examination provides a clear basis in which the group is up to and based on, this ensures that marketers adopts appropriate marketing technique that has the capability of ensuring that it is effective and efficient in regard to the group. Another factor associated with the reference group is the attribute of the young consumers to easily adapt and conform to the emerging fashion and trends in their reference groups because of the way the members of the relevant reference groups influence each other (Blythe 2008). From this assertion it is evident that that the reference groups have a greater influence on the behavior of an individual group member associated with the group. The young consumers in Europe are greatly influenced by the peer groups they are associated which have the attribute of having similar buying patterns (Blythe 2008). Peer groups in which t ...
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