Consider the scenario of a consumer purchasing a new vehicle. They have access to reasonable vehicle financing, so there are many options available to them. They’re buying the vehicle as a family car for their family of five. Discuss how 3 individual factors might be relevant to their purchasing decision. Discuss how 3 group factors might be relevant to their purchasing decision.
Consider the scenario of a consumer purchasing a new vehicle. They have access to reasonable vehicle financing, so there are many options available to them. They’re buying the vehicle as a family car for their family of five.
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1. Lifestyle - Lifestyle is one of the factors that would affect the buying behavior of the customer purchasing a car. Lifestyle will provoke the customer to go for that car which fits in their choice domain and class.
2. Financial condition- The income of the consumer plays a significant role in the buying decision. Higher the income, higher will be the paying capacity of the consumer. The consumer in such case will prefer a luxury car with premium features in it.
3. Personality- Personality is yet another personal factor which affects the buying behavior of the customer. For instance, consumers will bold personality will prefer SUVs in place of sedan. Thus, personality influences the nature or the choice of the product which is to be purchased.
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