Factors Affecting Consumer Decisons

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Financial Decisions:

Consumers need to make the important decisions on how much of their income to save and spend. Consumers develop financial plans called budgets that outline intended income and spending over a given time period. These budgets are made in order to improve their well being by ensuring they have enough money to satisfy their wants.

Factors:

Advertising --> When a business puts their business out there to the community in hopes they will purchase something.

Age --> The years who have been alive for, this impacts us as there are items and services which you cannot purchase until a certain age, as you mature you find interest in different things, you want to fit in with your age group.

Convenience --> How beneficial something is, this impacts a consumer as it impacts where you will buy e.g. not going an hour away for milk

Culture --> A society of people with similar ideas, customs and behaviour, this impacts consumers as you will not purchase something which your culture disapproves of.

Customer service --> The way customers are treated by the workforce at the business, impacts consumers as you will not purchase a product that you feel will benefit the workers.

Disposable income -->Money which you can spend on your own wants, this impacts consumers as it gives the amount of money you can spend on what you want.

Environmental considerations --> Thinking about how this product has impacted the environment, this impacts consumers as if they're conscious about the environment they will not be purchasing an item.

Social media --> Digital connecting platform, this impacts consumers as to be popular on the app there will purchase a well-known item on it.

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"Explain how consumer decisions can be impacted by environmental considerations"

'As the world develops, society has become more aware of how each purchase made affects the environment. Environmental considerations are where a consumer thinks about how a product has impacted the work when manufactured. We can see this when deciding to buy a new car and how this factor impacts a consumer's purchase. If the buyer is concerned about how petrol releases greenhouse gas emissions, they will decide to buy an electric car rather than a car as it doesn't have these negative impacts. Therefore we can clearly see that environmental considerations impact a consumer's purchases as they choose the one which was manufactured without causing a negative effect on the environment. Therefore as the world becomes more aware of the way products are manufactured and how it impacts the world surrounding us, consumers have considered purchasing products which don't have an impact on them.'

Other impacts on the environment:

Water / fizzy drinks = Water and fizzy drinks are packaged using plastic. This plastic is non-biodegradable, and many animals consume it, mistaking it for food.

Online purchases = When purchasing items that are delivered through the mail, they are over packaged, being incredibly wasteful. Sometimes they even put the product in one box, then that box into another box. I believe that online purchases have the worst impact on the environment. This is due to both the over packaging of products, and the toxic materials which are necessary to deliver each of these products. For example, if I, from Australia, purchase a package from Shein, from China. I make someone work in extreme conditions to make this, as well as the toxic waste materials which are needed to move it to me from the other side of the world. Therefore, online purchases have the worst impact on the environment.

Pizza = When food scraps stick to the product it is no longer able to be recycled. So even though pizza boxes are made from recyclable materials it can’t be recycled.

Toothpaste = The small size, the blended material, and the excess toothpaste left in the tube or container make it close to impossible to recycle.