Factors Influencing Consumer Behavior Essay

Factors influence customer behavior
Apart from the individual utility and societal aspects that influences the consumer choice of luxury brand, some other factors include the financial factors also determine the consumers’ decision to settle on a luxury product. People like to be identified with better items that complement their self-image but given the fact that luxury brands are usually expensive; consumers may deter or decline from making purchases based on financial limitations.

Khor (2010) explores diverse factors influencing consumers’ purchase of luxury brands. An understanding of value attributed to the demanded products influences consumers’ behaviors. The functional attributes of different brands also influence the choices made

Culture factors include culture, subculture and social class. Culture is basic of people’s behavior, every society has culture, and culture affects customer behavior between different countries with different cultures. Subculture is core part of every culture, and it combines nation, regions, ethic group, and geographic regions. Social class is relative to the society permanently and sequence division whose members share similar values, interests, and behavior. Social factors also influence consumer behavior, and the factors include social networks, family, and social roles and status. Philip and Gary (2016) point out online social network, online social network are online communications where people socialize or exchange information and option. The social network includes blog, social media sites and virtual worlds. The member of family has strong power to affect consumer behavior, and the family factor is the most important. Roles and status are important factors to affect consumer behavior, and the roles carry status around society. Personal factor is another factor, which can affect consumer behavior, and the personal factors involve consumer’s age, life-cycle stage, occupation, economic situation, lifestyle, and