Understanding the Factors that Influence Consumer Decision Making

The video explores various factors influencing consumer decision-making, including economic conditions, psychological factors, social influences, cultural characteristics, and external circumstances. Each factor plays a significant role in shaping consumer behavior and purchasing decisions. Marketers need to understand these influences to effectively target and engage consumers.

Which factor is primarily concerned with a consumer's budget and confidence?

• Economic conditions

• Cultural characteristics

• External circumstances

• Social influences

How do psychological factors influence consumer decisions?

• By shaping attitudes and behaviors

• By influencing weather conditions

• By determining store displays

• By affecting the consumer's budget

What role do social influences play in consumer decision-making?

• They affect the consumer's budget

• They shape the consumer's values

• They impact decisions through peer interactions

• They determine environmental factors

Cultural characteristics influence consumer decisions by:

• Determining store music

• Shaping values and beliefs

• Influencing weather conditions

• Affecting the consumer's confidence

Which of the following is an example of an external circumstance affecting consumer decisions?

• A consumer's attitude

• A consumer's budget

• Store displays and music

• Peer pressure