Task 1.13: Key Factors that Influences Consumer Decision Making (Gender…
Key Factors that Influences Consumer Decision Making
Example, females are more influenced to buy more cosmetic items compared to males, but the influence of gender is best displayed by products that are advertised in Mother's and Father's day catalogues.
Male and females may have many common wants such as, entertainment, music and a car, but depending on a person's gender can influence certain products to purchase.
Consumers are therefore more influenced to buy a product that has minimal packaging or packaging that can be recycled.
With the increasing awareness of environmental pollution in different communities, consumer are becoming more aware of the problems caused by throwaway packaging.
Convenience means many different things to consumers, and it could mean the travelling time to a retail outlet, the number of stores located within one shopping complex or suitable shopping hours.
Consumers don't have a lot of time to shop, and they want their shopping experience to be either hassle-free or very convenient.
Age influences consumers because a product may be advertised more to a certain age demographic, and that demographic are influenced to buy the advertised product.
People wants and needs change over time, for example as a baby you may want a rattle, around 18 you may want a car, as an adult you want a place to live, and when you are retired you may want to go on trips around the world.
The cost of the money borrowed, the interest rate, and the ease with which the finance can be arranged will influence consumer's spending decisions.
There are times where people take loans from a bank, so that they can buy a house or a car, but over time they have to pay back the bank the amount they loaned out.
Consumers look for a product that is of the best quality, and also at the cheapest price.
It is one of the first things consumers think of, and if a good is more than what they can afford, they will not buy it.
If a marketing campaign or ad is successful, consumers are influenced into thinking that they need the product that has been advertised.
Marketing plays a very important role in influencing consumers, and this is because on average, consumers are exposed to 500 different marketing strategies every day.
Poor service makes consumers not want to buy anymore products from the company or store, and that can leave the company or store in financial problems,
Good pre-sales and after-sales service make consumers feel valued, consequently leading to them coming back and buying more products from the company or store.