Commerece- Week 2: Factors effecting consumer decisions

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11 Terms

1
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What are some factors effecting consumer decisions?

Age, Gender, Convenience, value for money, culture, customer service, social media, Gender, Advertising, disposable income and ethical and environmental considerations

2
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How does gender effect consumer decisions?

Influencing the priorities, values and motivation individuals associate with products, E.g: Women may buy lipstick or makeup whereas men may purchase: Functional products

3
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How does convenience affect consumer decisions?

Consumers are more likely to consider how easy and quick it is to buy a product or service, rather than a price.

4
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How does a disposable income effects consumer decisions?

Determines is a consumer has to spend mostly after taxes.

5
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How does ethical and environmental considerations effects consumer decisions?

Influencing consumer decisions by their choice of products and brands based on their perceived sustainability and social responsibility.

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How does customer service effect consumer decisions?

shaping their perception of a brand, influencing their loyalty, and directly affecting whether they choose to purchase a product or service based on the positive or negative experience they have with the company

7
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How does culture effect consumer decisions?

Shapes their values beliefs, and perceptions of the product, influencing what they buy based on cultural norms.

8
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How does age effect consumer decisions?

influencing priorities, risk tolerance, information processing abilities, and overall lifestyle needs,

9
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How does value for money effect consumer decisions?

Influencing them more likely to purchase a product or service when they perceive it as offering a good balance between price and quality.

10
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How does social media effect consumer decisions?

Social media significantly impacts consumer decisions by providing a platform for individuals to access reviews, recommendations, and user-generated content from peers, which acts as "social proof" and heavily influences their buying choices;

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How does advertising effect consumer decisions?

shaping perceptions, attitudes, and purchase intentions towards a product or brand through creating awareness, generating interest, highlighting unique benefits, and leveraging emotional appeals to influence how consumers perceive a product.