Social Group Influences

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Copyright: 2015
Pages: 27
Source title: Understanding Consumer Behavior and Consumption Experience
Source Author(s)/Editor(s): Rajagopal (EGADE Business School, Tecnologico de Monterrey, Mexico)and Raquel Castaño (EGADE Business School, Tecnologico de Monterrey, Mexico)
DOI: 10.4018/978-1-4666-7518-6.ch008

Keywords: Business & Management / Business Science Reference / Consumer Management / Marketing and Consumer Behavior

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Abstract

Continuous growth in information and communication technology over the twentieth century has turned consumers more community-oriented in making buying decisions. The interaction of consumers with society and family has shifted its focus from conventional to virtual platforms. Social media plays an important role in determining consumer behavior. Increasing consumer education and social interactions are driving consumers to critically examine the corporate marketing policies, competitive advantages, and value for money to get associated with the vital brands in the marketplace. This chapter maps the consumer dynamics in setting the behavior and decision-making parameters moving through the changing social and group influences. The discussions in the chapter argue that social media has emerged as a powerful tool to develop consumer behavior. Accordingly, most companies are engaged in empowering consumers through various customer-centric strategies for sustainable business growth.

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