Principles of marketing

Describe some of the personal and psychological factors that may influence what consumers buy and when they buy it. Are any of these factors particularly effective or ineffective on you? Explain why or why not.

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Some personal factors that may influence a person’s buying behavior includes but are not limited to economic status, lifestyle, age, personality, occupation, and self-esteem/confidence. For example, teens wouldn’t purchase something targeted for seniors and visa versa. In my opinion, life cycle and age play a larger role on a consumer’s purchasing behavior. Some psychological factors might include motivation, a consumer’s perception, beliefs, experience, and attitude. Motivation plays a large role because if a consumer’s motivation is high, it also means that their perception of that need is also quite high. I would say that these factors are quite effective on me for both personal and psychological. For example, if I saw something that I really wanted, my motivation would be high and I would be likely to purchase it.