Background: Psychological Factors
Psychological factors pertain to an individual’s motivation, perception, ability to learn, and attitudes that influence buying decisions.
Motivation is what drives a person to take a particular action. It’s based on needs, from the most basic (like hunger) to more complex needs like self-fulfillment. Maslow’s hierarchy of needs can be referenced to understand these levels.
This relates to the way individuals select, interpret, and organize sensory information. Perceptual processes can be divided into selective attention, selective distortion, and selective retention.
Learning involves changes in an individual’s behavior due to experience. Marketers try to stimulate consumers to learn about their products, which can be achieved through advertisements, product trials, and purchase incentives.
Attitudes and Beliefs:
An attitude describes a person’s lasting evaluation, which can be positive or negative, towards an idea, object, or person. Beliefs are the convictions that an individual holds.