What are the factors affecting buying behaviour?

What are the factors affecting buying behaviour?

Here are 5 major factors that influence consumer behavior:

  • Psychological Factors. Human psychology is a major determinant of consumer behavior.
  • Social Factors. Humans are social beings and they live around many people who influence their buying behavior.
  • Cultural factors.
  • Personal Factors.
  • Economic Factors.

What are the 4 factors that influence consumer buying behavior?

There are four psychological factors that influence consumer behaviour: Motivation, perception, learning, and attitude or belief system.

What are the 3 factors that affect the buying process?

The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer. These factors can individually or collectively affect the buying decisions of the consumers.

What is situational influence?

Known as “situational influence,” they’re factors that exist independent of the communication between influencer and prospective customer but also impact the customer’s decision-making process. …

How do social factors influence consumer buying behavior?

Like culture, it affects consumer behavior by shaping individuals’ perceptions of their needs and wants. People in the same social class tend to have similar attitudes, live in similar neighborhoods, attend the same schools, have similar tastes in fashion, and shop at the same types of stores.

What are the common factors affecting the buyers willingness to purchase?

9 Factors that Affect a Customer’s Willingness to Pay

  • PRICE V QUALITY EFFECT. Buyers will be more willing to pay if they believe that a higher price signals higher quality.

What are the types of customer buying behaviour?

Common types of buying behaviors include:

  • Habitual. When customers practice habitual buying, they typically put little thought or research into their purchases.
  • Complex.
  • Dissonance-reducing.
  • Variety seeking.
  • Limited decision-making.
  • Impulsive.
  • Spendthrift.
  • Average spending.