key term - Reference groups

Definition

Reference groups are groups of people that an individual uses as a standard for evaluating their own behavior, values, and attitudes, especially in the context of buyer behavior. They influence purchasing decisions by shaping an individual's perceptions of products or brands.

Related terms

Social Influence: The effect that words, actions, or mere presence of other people have on our thoughts, feelings, attitudes, or behavior.

Consumer Behavior: The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Brand Loyalty:

A consumer's consistent preference for one brand over all others within a particular product category