To buy or not to buy...that is the question

Factors that have the most influence in consumers’ buying decision Behaviors of consumers determine the purchasing power of almost every customer. According to numerous studies, econometrics set forth numerous factors that determine consumers’ choice while buying certain products. A study carried out recently comprising of consumers from different designations shown that the central focus that attributes to consumers’ buying choices is needs, lifestyles, and processes of purchasing (Lamb, Hair, and McDaniel 27). Using a cognitive marketing plan, the research established that one of the most rampant factors determining the choice of to buy or not to buy by consumers is the force of abundance. According to market analysts, forces of abundance refer to a customer’s financial ability to purchase a particular product instead of another or not to purchase at all. Money is the most common determinant of consumer’s decision with regard to buying products (44).
Additionally, the issue of taste receives a huge degree of consideration when consumers are purchasing certain products. In this spectrum, it is worthwhile noting that some consumers prefer certain products instead of others and this influences their choice of buying such products even if their prices are too high or the distance involved in acquiring them is long. Furthermore, consumers’ choice of buying products is influential due to lifestyles (58). Some consumers’ styles and standards of living determine the type of products and services to buy. With that respect, some consumers whose living standards are high go for high-class products whose prices are always expensive and consider particular brands of products as important compared to others. In summary, there are many factors ranging from minute to huge factors that influence consumers’ choice of buying certain products and services (71). However, as highlighted in this paper, the most common ones include needs, lifestyles, and financial ability of a customer.
Works Cited
Lamb, Charles, Hair, Joseph and McDaniel, Carl. Essentials of Marketing. New York: Cengage Learning, 2011. Print.