Factors that Influence a Consumer

Factors that Influence a Consumer

1. Availability and Cost of Finance

   • If a product's cost is very high, then consumers will probably not buy that particular product

2. Consumer Preferences

   • Customer preference is based on the individual consumer and what they like.
     • For example: Green vs Red apples

3. Fashion Trends

   • If a particular product is very 'trendy', then most consumers will buy that product.
     • For example: Hyper Colour T-Shirts

4. Convenience

   • If a product is something that they need or at a good price, then consumers will probably want to buy that product.

5. Health, Ethical and Environmental

   • Sustainability

6. Price

   • Price up, demand down
     • Price affects whether or not people would want to buy the product. For example, if a product is very expensive, then most people would not want to buy it.

7. Marketing

   • The more exciting and attractive it is, the higher the demand.