| Evaluating the Main Factors Which Influence | | | | protect one from danger |
| Customer Buying Decision | | | | Affection- these are the needs for one to belong |
| INTRODUCTION: | | | | to certain groups or family |
| Consumers are the end users of goods and | | | | Self esteem- these are the needs for recognition |
| services while a group of customers who | | | | and dignity |
| purchase goods for inputs example organisations | | | | Self actualisation- these are the needs to realise |
| and businesses are referred to as customers. We | | | | our full potential |
| will focus on the main factors that influence | | | | Advertisements also act as an influence to the |
| customer buying behaviour and we will focus on | | | | buyer's decision to buy; adverts are means by |
| the economic, social and physiological perspectives. | | | | which the availability and the quality of products |
| The economic perspective of customer behaviour | | | | are notified to consumers. Also they act as ways |
| focuses on the price of products, advertisement | | | | in which confidentiality is increased to the buyers |
| and also the income levels of buyers, the | | | | of a product, a good example is where vehicle |
| sociological point of view focuses on reference | | | | manufacturing firms continue to advertise |
| groups and culture and finally the psychological | | | | products and owners of such products will always |
| perspective focuses on the decision making | | | | check these adverts for the reassurance of the |
| process and motivation theory. | | | | quality of the products they already bought. |
| PRICE: | | | | Therefore adverts are a major influencing factor |
| The price of substitutes also play a major role in | | | | to buyers when they decide what to buy, they |
| determining the consumers purchasing behaviour, | | | | are persuasive in nature and also they provide |
| in a situation where a substitute of a product is | | | | information about a product including quality, |
| less expensive, then the consumer will purchase | | | | offers and price cuts, availability of a product and |
| the substitute. under the price of a product we | | | | the price of the product and this aids the |
| will also consider the risk associated with buying a | | | | consumers to make quick decisions about |
| certain product, the more expensive a product is | | | | purchasing a product. The adverts also aid in |
| the higher the risk and the higher the | | | | building brand preferences and loyalty through |
| consequences of making the wrong decision, | | | | their constant and consistent campaigns. |
| buyers will also consider the scrap value of and | | | | CONCLUSION: |
| mostly this is associated with vehicle and | | | | Consumer buying decisions will in most cases be |
| machinery product, products with very high prices | | | | influenced by the prices, income, and availability of |
| and low scrap value will be less preferred. | | | | credit facilities, emotional attachment, need |
| INCOME: | | | | satisfaction, technical factors and advertisements. |
| Certain goods also will be purchased by high | | | | When products prices are low the more the |
| income earners, for example high income earners | | | | consumer is influenced to buy the product, |
| will tend to purchase expensive luxurious goods | | | | however the influence of price depends on the |
| while low income earners will purchase cheap | | | | price elasticity. |
| goods; however there is need to consider the | | | | Income also plays a major role in determining the |
| type of good that is produced such as giffen | | | | consumer's decision on buying, the higher the |
| goods whose demand decreases as the income | | | | disposable income the more the quantity of |
| levels rise. Therefore we can conclude that | | | | products a consumer will buy, this however |
| income levels do influence the purchasing decision | | | | depends on the income elasticity of the product, |
| of consumers. | | | | however there need to distinguish the type of |
| AVAILABILITY OF CREDIT FACILITIES: | | | | good because some goods are less demanded as |
| The availability of credit facilities means that a | | | | income rises. |
| consumer can purchase products on credit basis; | | | | Under the need satisfaction we consider the |
| therefore the consumer can still afford to | | | | Maslow's motivation theory where consumers will |
| purchase very expensive products despite his or | | | | first satisfy the lower needs before moving on to |
| her low income. The existence of credit facilities | | | | higher needs. Advertisements also pay a major |
| will influence the customers buying decision and | | | | role in shaping the preferences of consumers in |
| also influences impulse buying in that the | | | | that they persuade buyers to buy certain |
| consumer will purchase goods on credit without | | | | products, they inform consumers on the |
| having to consider his low income or financial | | | | availability of certain products, quality and also help |
| constraints. | | | | build brand loyalty. |
| NEED SATISFACTION: | | | | All this factors contribute to the decisions |
| We will focus on the Maslow's theory of | | | | consumers make when deciding on what to buy, |
| motivation, this theory suggest that human beings | | | | therefore consumer's decisions depend upon so |
| seek to satisfy lower needs and then the higher | | | | many factors which must be taken into |
| needs, he hieratically arranged human needs from | | | | consideration by firms when undertaking market |
| low needs to higher needs as follows: | | | | research in order to increase their sales volumes |
| Physiological needs- this include the basic needs | | | | to attain higher profits. |
| such as food and shelter | | | | REFERENCES: |
| Safety- this include shelter and the needs to | | | | Jobber D. |