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Essay, 2 pages (300 words)

Factors affecting consumers’ buying decision in the selection of a skincare product

Subjects: Business, Marketing

Info

Published: November 16, 2021
Updated: November 16, 2021
University / College: Temple University
Language: English
Downloads: 36

Consumer behavior is a field of study which is interconnected with the human mind, thereby gaining a complete understanding is impossible. However a forecast of human behavior can be made through analyzing previous purchasing decisions. Consumers make buying decisions frequently but are unaware of the factors which influence them. These factors have distinct characteristics which can be broadly categorized into cultural, social, personal and psychological. This research aims to analyze the social, personal and psychological factors which influence the buying decision of a consumer and which is the most influencing factor. Skincare products has been chosen as the research subject since the range of products available is vast.

Ranging from cleansers, moisturizers, lotions, masks, toners and serums. Moreover understanding the reason behind the consumers’ selection of one product over another despite similar functionalities is fascinating. As a result of resource constraints the scope of this subject has been limited to females in the city of Kandy, Sri Lanka. Thereby the research has been narrowed down both geographically and based on gender. Moreover the cultural factors will be excluded intentionally. The reason being that Sri Lanka is a small island and cultural differences are less significant, especially with regards to skincare products. The research is structured into two parts: theoretical and empirical (practical). The theoretical portion will comprise of the definition and characteristics of consumer behavior along with the process of decision making and types of decisions. The empirical portion is undertaken through both primary and secondary research.

Data gathered through questionnaires distributed across Kandy forms the base for the primary research. Secondary research has been undertaken by analyzing existing research surrounding the topic. Data obtained from individuals outside the scope of the research is excluded to maintain consistency of the findings. Ultimately the data is quantified and analyzed with connection to the three factors. And a conclusion is drawn as to which factor has the highest influence on buying decision with regards to skincare products in Kandy.

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AssignBuster. "Factors affecting consumers’ buying decision in the selection of a skincare product." November 16, 2021. https://assignbuster.com/factors-affecting-consumers-buying-decision-in-the-selection-of-a-skincare-product/.

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