Consumer Purchasing Decisions
What are the biggest influences on consumer buying decisions in your opinion?
I definitely agree with Ashley that cultural reasons are the biggest influences to make a purchase. If it the the trendy thing to have right now, like iPhones and other smartphones, chances are you'll really want one too.
I think another strong influence on purchasing decisions is the consumers current emotion. I know a lot of women that like to go shopping when they're feeling down because buying things makes them happy so they are more likely to buy something if they are sad or in a bad mood in order to cheer themselves up. However I also know a lot of women that like to go shopping when they are in a good mood and go a little over board because they're so happy and have no worries. So basically no matter what kind of mood the target market is in, chances are good that someone will be buying something. I am not either of these kinds of shoppers, I am a poor college student so really my shopping patterns depend on the amount of money I have and what expenses I need to pay. This is another influence on purchasing decisions.
People often want to buy things buy aren't able to afford them. However, if it is something that they really want but can't afford at the moment, many people will safe up to make the purchase at a later date. So maybe a company isn't making as many sales right now, but maybe once tax returns are received there will be a spike in sales.
What do you think are the strongest influences on consumers to NOT buy something?
Ashley's post can be found here.
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