The factors that affect these decisions may be different for each individual. For example, even though your friend and you may share same interests, when you are out shopping for something, like shoes, your friend may love ballerinas, while you may love wedges. The choices vary because influenced by the different factors in life, each person learns to create mental shortcuts that provide a systematic way to choose among alternatives.
Key Factors that Influence Buying Decisions
Cashier helping customer at counter
Culture is one of the key factors that influences a consumer’s buying decisions. These factors refer to the set of values, preferences, perceptions, and ideologies of a particular community. At an early age, buyers learn to recognize acceptable behavior and choices when selecting products.
For example, it is our culture that teaches us that, as a buyer, we need to make payments and honor contracts, pay on time, observe rules, and assume responsibility when seeking information. Sometimes ‘cultural shifts’, due to the influence of different cultures indicate the need to introduce new products.
Each culture is further divided into various subcultures based on