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Factors that Influence Consumers - Coggle Diagram
Factors that Influence Consumers
Prices
The less costly, the more likely consumers are to purchase it.
Consumers want the best value for their money.
Customer Service
Pre-sale and After-sale service greatly influences a consumer's decision.
If it is good, you will buy from there again. If it is not, you will not.
Convenience
A huge factor of convenience is the online presence and accessibility.
Lots of consumers don't have a lot of time. So convenience is important.
Marketing and Advertising
A large part of our decisions to purchase something relies on how well we and others know the brand.
If the marketing campaign is successful, consumers will be influenced into thinking that they need the product.
Gender
A person's gender influences their purchases.
The influence of gender massively influences consumers decisions.
Environmental Considerations
With more consumers considering the environment, environmentally friendly products are the way to go.
Consumers will purchase products with less packaging
Ages
The consumer's age greatly influences the type of products they invest in.
Our wants change over time.
Social Media
Influencers play a big part in the market at the moment.
Companies using social media influencers to gain attention to their product play a big part in consumer's opinion.
Cultural Factors
Cultural factors are the set of basic values, perceptions, wants and behaviours of a particular community or group of individuals.
Cultural factors have a significant effect on an individual’s buying decisions.
Disposable Income
The amount of disposable income determines what consumers purchace.
A consumer with higher disposable income will spend more on luxury items. People with lower disposable income will spend it on less costly and less luxurious items.