The Look at Me Roy Market Segment

The look at me Roy market segment is one which consists of a sequence of retorts mostly related with youth and revolt from the household or family. Consumers in this segment are seeking to have fun and independence away from family and are concerned about being part of their generation (Collie and Escorcia 2016). The micro-environmental factors affecting this group consist of psychological factors categorized as motivation, discernment, learning, attitudes and philosophies. The magnitude of motivation sways the buying behaviour of shoppers as explained by Maslow’s hierarchy of needs theory (Cao et al. 2013). The look at me segment consists of a group of individuals who have already attained basic needs and are now motivated by owning social needs which will enable them fit in certain social groups. The multi-functional bag is a trendy product which will attract young people thus making them want to be in certain social groups. The perception of consumers towards a specific item and brand also impacts their choice to make a purchase. If consumers perceive the multifunctional bag as premium, they will have positive buying behaviour. Attitudes and beliefs of consumers towards a certain product will influence their purchasing decisions (Rani 2014). The look at me segment has a belief that they must stand out of their parent’s generation, hence they are motivated to purchase items that help them achieve this goal. The attitude of this segment, therefore, will influence their buying behaviour and will align towards purchasing new and modern items which were not available during their parent’s generations.

Impact of Macro-environmental Factors on Look at Me Segment

One of the macro-environmental factors that will influence the buying decision of look at me segment is cultural factors. These are factors that individuals learn due to socialization. The look at me segment is a social class defined by age among other factors and it consists of individuals who strive to live by the standards of this social class. The social class share similar beliefs and attitudes, for instance, the look at me segment is influenced to look their best, own unique and new products hence their motivation towards purchasing a multifunctional bag. The group, however, tends to change its preference very often hence the bag must continue adding new features as more innovations arise in the market. Under culture, there are also persona influences whereby, every person processes information received differently and evaluate the product in their own different way (Mullen and Johnson 2013). If many individuals do not perceive the multifunctional bag as awesome, they will be less likely to purchase it. Lifestyle characteristics also influence consumer buying behaviours. For instance, the look at me segment is one whose characteristics includes possession of certain luxury items. For one to be a member of certain social groups, they must wear clothing of a certain style, possess a particular class of electronics and other possessions which differentiates them from other generations. Therefore, if this segment perceives the multifunctional bag as one that will make them belong to certain social classes, their demand for the bag will be high. Thus, multifunctional bag must appeal to this segment by having unique features for it to experience high sales volume.

Economic factors that influence consumer purchasing behaviour entail factors relating to level of sales and financial position of consumers that is the amount of income one spends on buying a certain category of items (Oliver 2014). In look at me segment, personal income is categorized by how much money individuals in this group earn or receive from their parents. The individuals in this group have a large disposable income which enables them to purchase items they perceive as important for their social class. Therefore, although this segment is sensitive to price, they are willing to make the purchase of items they consider important. Income expectation is also an influence of consumer buying behaviour, for instance, the look at me segment expects their income level to increase in future and thus will spend more money buying luxury goods, durables and shopping goods such as multifunctional bag. Consumer credit is also an economic factor which does not favour look at me market segment since individuals in this group are young and have not yet built up their credit. However, availability of credit to this segment is likely to make them purchase more luxury goods. The last economic factor is availability of savings. If consumers in the look at me segment decide to save more for a particular segment, then their expenditure for multifunctional bag and other luxury items is likely to decline.

Competition is also a factor that influences the purchasing behaviour of look at me segment. Despite having a relatively high disposable income to purchase luxury goods, if a competitor is offering similar products at a more affordable price, the segment is likely to purchase the competitor’s products. Additionally, competition affects the group in that if they find more unique products which appeal to their preference, they immediately shift to that brand since their switching cost is low.

References

Cao, H., Jiang, J., Oh, L. B., Li, H., Liao, X., and Chen, Z. (2013). A Maslow’s hierarchy of

needs analysis of social networking services continuance. Journal of Service Management, 24(2), 170-190.

Collie, A., and Escorcia, F. (2016, September). Breaking Habits, an application of Cognitive

Behavioral Therapy for online learning and behavior change. In International Social Marketing Conference 2016 Societal Wellbeing (p. 126).

Mullen, B., and Johnson, C. (2013). The psychology of consumer behavior. Psychology Press.

Oliver, R. L. (2014). Satisfaction: A Behavioral Perspective on the Consumer: A Behavioral

 Perspective on the Consumer. Routledge.

Rani, P. (2014). Factors influencing consumer behavior. International journal of current

 research and academic review, 2(9), 52-61.