Explain the factors that affect buyer behaviour
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Consumer's buying behaviour is determined by economic, psychological, sociological and cultural consideration, these factors make up the motivation mix of the customer, discuss the influence of each one of the above mentioned factors in detail, providing a real examples.
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This solution shows the four factors that influence consumer behavior
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1. Consumer's buying behaviour is determined by economic factors
Consumer economic situation has great influence on his buying behavior. If the income and savings of a customer is high then he will purchase more expensive products. On the other hand, a person with low income and savings will purchase inexpensive products (Sha, 2010).
Also, poor families will prioritize the purchase of basic necessities such as food and clothing. Rich families will indulge in costly products like signature bags, cars, and similar items.
2. Consumer's buying behaviour is determined by psychological factors
According to Sha (2010) there are four important psychological factors affecting the consumer buying ...
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