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Factors Which Influence Consumer Choice

Who is a Consumer?. A consumer is someone who buys goods, such as food, clothes, mobile phones, books, magazines, appliances, from a shop or other source.A consumer is also someone who buys a service, usually from a specialist, such as an electrician, technician, hairdresser, beautician, bus drive

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Factors Which Influence Consumer Choice

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    1. Factors Which Influence Consumer Choice

    2. Who is a Consumer? A consumer is someone who buys goods, such as food, clothes, mobile phones, books, magazines, appliances, from a shop or other source. A consumer is also someone who buys a service, usually from a specialist, such as an electrician, technician, hairdresser, beautician, bus driver, or travel agent. A consumer buys goods or services for his or her personal use.

    3. What is Consumer Choice? Consumer choice is the way people choose to spend their money. This is influenced by many factors. While people have some freedom of choice, there are many factors which may affect their choice.

    4. What influences Consumer Choice?

    5. Personal Factors Needs - essential items: e.g. food, clothes, etc Wants - something one can live without: e.g. another pair of shoes, a TV in the bedroom Likes/dislikes - personal taste or preferences Time available - time to shop around, time to do household chores and/or cook, time to travel

    6. Values - what is personally important in life Emotions/mood - how one feels Knowledge – the background information one has about the product or service Hobbies – specialist equipment for hobbies Personal Factors

    7. Social Factors Family – likes and dislikes may be passed on to children Friends - likes and dislikes may be passed on; wanting to have the same Other people – recommendations that help to make decisions Trends – things which are fashionable

    8. Entertainment options – CD’s, DVD’s, parties, family outings, cinema, sports, holidays Gender – norms for products and services; what is considered feminine/masculine Age – different age groups have different interests, therefore different wants Social Factors

    9. Economic Factors General personal/family income What one can afford at the time of purchase Credit cards available Value for money Special offers Reduced price (sales) Hire purchase options – buy now pay later Free credit options – e.g. No interest paid in first 12 months

    10. Environmental Factors Buying products which can be reused – e.g. washable lunch boxes rather than a plastic bag Energy efficient products – e.g. light bulbs, appliances Water-saving products - e.g. certain dishwashers and automatic washing machines

    11. CFC-free products – e.g. buying appliances and aerosols (sprays) which are ozone-friendly Recyclable packaging Biodegradable packaging Items not tested on animals – e.g. personal care products Lifestyle – making consumption choices to promote sustainable development Environmental Factors

    12. Psychological Factors Planned buying – buying goods and services when all options have been considered; often to fulfil a need, but could also be a want Impulse buying – buying something on the spur of the moment, without consideration of need or options available

    13. To bribe, encourage or reward someone Emotions – buying an item to make oneself feel good Celebrations – extra money spent on special occasions; treats Advertisements – Use different strategies to motivate consumers to buy Psychological Factors

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