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Theoretically there are social, cultural, personal, psychological factors, which influence consumers in their decisions and actions. Social means the persons status, family, friends, etc influence his action, similarly persons culture and sub culture, personality and lifestyle, age and job, beliefs and attitude, perception etc influence their behavior.
A purchase decision is a result of each and every one of these factors.These factors are to be considered by the firms for their product or service to reach the target customers.
The top 4 factors are :
CULTURAL factorsinclude a consumer’s culture, subculture and social class. These factors are often inherent in our values and decision processes.
SOCIAL factors include groups (reference groups, aspirational groups and member groups), family, roles and status. This explains the outside influences of others on our purchase decisions either directly or indirectly.
PERSONAL factors include such variables as age and lifecycle stage, occupation, economic circumstances, lifestyle (activities, interests, opinions and demographics), personality and self concept. These may explain why our preferences often change as our `situation' changes.
PSCHOLOGICAL factors affecting our purchase decision include motivation (Maslow's hierarchy of needs), perception, learning, beliefs and attitudes.
A lot of them .. to sum it all PEST .. His Political surrounding, His economic position and that of this surrounding , same for social and Technological....
