Factors influencing consumer behaviour
Markets must be understood before marketing strategies may be developed. People using consumer markets buy services and goods for personal consumption.
Consumers vary enormously in income, age, tastes, education, and other factors.
Consumer behaviour is affected by the buyer's decision process and by buyer's characteristics. The buyer characteristics include four major factors: social, cultural, and psychological, personal. We may say that following factors may influence the Buying decision of buyer:
- Cultural
- Social
- Personal
- Psychological