Consumers' Buying Behavior Essay

322 WordsFeb 6, 20122 Pages
1. What are some of the factors that influence consumers’ buying behavior? Income is one of the factors that influence buying decision of consumers and this depends on income elasticity what to purchase or not. Second factor will be price, a fall in the price of item will result gain in the quantity of a product purchase. Third factor, reference for their judgment, value and behaviors, that will shape the taste and first choice of an individual, credit availability influence the buyers’ behavior. If you have a balance in your credit, you still can afford to purchase expensive items either you are a low income or not. It will keep going, buyers needs of satisfaction example chocolate, emotional attachment like products arouse such feelings means fun, pride and pleasure also this will influence their buying decisions. 2. Have the purchasing habits of your parents and/or grandparents influenced your buying behavior? They could have influence my purchasing habits if I was brought up in developed country, as we see purchasing habits are different from developed and not developed countries. The needs of product are different. For example growing up I have seen my parent going for food shopping once a month and has to last for entire month feeding dozen. Income is the major and the only factor for buyers’ behavior within those countries. 2. If you were to open your refrigerator and cupboards and compare the contents with those of your parents, would you find some brands in common? I will find similar contents but not similar brands. For example, vegetables, milk, butter, oil, grain and so on. Growing up I haven’t seen brand name product that is made within the country. Most of the time the one with the brand name comes from oversees. For example, cars…; this is sixteen years ago I was too young to know, the country might developed and have brand product. Like

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