Factors that Influence your Purchase

Many internal and external factors influence our purchase decisions:

Personality: Well defined enduring patterns of behaviour.  Personality influences our purchases.  Style, colour, conservative, flashy, etc.

Social Class: Refers to the lifestyle, values and beliefs that are common to a group of people.  Income level, neighbourhood, ect.  This factor exerts a strong influence on your desire for a particular type or brand of product.

Cultural Environment: Set of beliefs or attitudes that are passed on from generation to generation.

Reference Groups: Groups or organisations from which you take your values and attitudes.  Church groups, families, peers, etc. exert influence over our purchasing decisions.

Types of consumer buying behaviour are determined by:

• Level of Involvement in purchase decision. Importance and intensity of interest in a product in a situation.
• Buyer's level of involvement determines why s/he is motivated to seek information about a certain products and brands but virtually ignores others.

High involvement purchases: Honda motorbike, high-priced goods, products visible to others, and the higher the risk the higher the involvement. Types of risk:

• Personal risk
• Social risk
• Economic risk