What Are The Factors Affecting Consumer Decision Making?

What are the internal factors of decision making?

Internal factors that affect decision making include attitude, emotions, and ethics.

Attitude is how you react when faced with making a decision.

It is best to have a positive attitude because it often helps one see more options as well as make decision making easier..

What are the factors affecting consumer decision making process?

Economic Factor. The most important and first on this list is the Economic Factor. … Functional Factor. The factor is totally about needs, backed by a logic that what makes sense and also fits in the best interest of the customer. … Marketing Mix Factors. … Personal Factors. … Psychological Factor. … Social Factors. … Cultural Factors.

What are the factors affecting consumer buying behavior?

A consumer’s buyer behaviour is influenced by four major factors: Cultural, Social, Personal and Psychological. Cultural factors include a consumer’s culture, subculture and social class. These factors are often inherent in our values and decision processes.

What are three factors that influence consumer behavior?

3.2 The factors which influence consumer behaviourPsychological (motivation, perception, learning, beliefs and attitudes)Personal (age and life-cycle stage, occupation, economic circumstances, lifestyle, personality and self concept)Social (reference groups, family, roles and status)Cultural (culture, subculture, social class system).

What are five factors that influence our decisions?

Significant factors include past experiences, a variety of cognitive biases, an escalation of commitment and sunk outcomes, individual differences, including age and socioeconomic status, and a belief in personal relevance. These things all impact the decision making process and the decisions made.

What are the factors that influence consumer Behaviour online?

10 Factors that Influence Customer Buying Behaviour OnlineQuality of Product Description. … Shipping Costs. … Return Policy. … Convenience in Searching Products. … Ease of Navigation via Categories. … Complexity Levels in Checkout Process. … Relevance of Product Recommendations. … Categorization of New Products.More items…•

What three major factors are important in consumer choice?

Begin with these three simple factors: market trends, personal motivations and desires, and reviews. Marketers often go straight into a consumer’s personal behavior. Buyer personas and customer avatars all use desires and motivations as a foundation. But, consumers are first influenced on a cultural level.

How do you influence customer decisions?

6 Ways to Influence Customers and Grow SalesMake them feel uniquely special. Smile and truly welcome your customer. … Offer lots of information. Consumers look for trustworthy, knowledgeable individuals to educate them on a purchase. … Customers need to be involved in the decision. … Tell the story. … Make realistic promises. … Provide a high level of service.

What are the 4 elements that influence consumer decision making?

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

What are the factors that influence behavior?

Factors Influencing Individual BehaviorAbilities.Gender.Race and culture.Attribution.Perception.Attitude.

What are the stages of the decision making process?

Step 1: Identify the decision. You realize that you need to make a decision. … Step 2: Gather relevant information. … Step 3: Identify the alternatives. … Step 4: Weigh the evidence. … Step 5: Choose among alternatives. … Step 6: Take action. … Step 7: Review your decision & its consequences.

How does social influence affect your decisions?

Behavior that is consistent with the authority influence hypothesis should be better described by the social influence model, which allows decision makers to give greater weight to the information that is inferred from the behavior of the higher ranked other person.

How do you influence decisions?

6 Keys to Influencing People, Not Manipulating ThemUnderstand the decision cycle. People move through six predictable stages—a universal decision cycle—whenever they make a change. … Establish trust. If people don’t trust you, they won’t allow you to influence them. … Create urgency. … Gain commitment. … Initiate change. … Overcome objections.