FACTORS INFLUENCING CONSUMER BEHAVIOR-A REVIEW

Abstract

As success of business lies on the satisfactory customers, it is imperative for the business to understand customers completely and also the different factors that influence their buying decisions. Marketing is the activity the start and end of which completely depends on consumers, so consumer’s decision to buy or not to buy the product of the shows how well the marketing strategy has been formulated by the marketer and how well these suits to consumers. This paper is exclusively focusing on different factors that influences the behavior of consumers and their buying decisions. Consumer buying decisions involve psychological state of mind of consumers which impacts consumer’s understanding of their requirements, discovering pattern to satisfy their needs, taking decision to buy or not any product or service, and if so, which brand, color, size etc. to buy. These decisions may also include to decide on where to buy from like, online or in store, malls or retail store etc.