4 Different Influences
Price
Refers to how much all the products and goods cost and if they have a reasonable price that is affordable according to a persons budget. If the price is too low, people won't think it's worth it, but if it's too high people won't want to buy it because it's too expensive.
Refers to how much all the products and goods cost and if they have a reasonable price that is affordable according to a persons budget. If the price is too low, people won't think it's worth it, but if it's too high people won't want to buy it because it's too expensive.
Use of Credit
If the credit card facility of the consumer offers favourable credit terms, then the consumer will be more likely to buy the product(s). They'll also will be more likely to buy if interest rates aren’t super high and are in their favour. Consumers like the idea of "buy now and pay later"; with a credit card, a customer doesn't need to pay right away when they buy something.
If the credit card facility of the consumer offers favourable credit terms, then the consumer will be more likely to buy the product(s). They'll also will be more likely to buy if interest rates aren’t super high and are in their favour. Consumers like the idea of "buy now and pay later"; with a credit card, a customer doesn't need to pay right away when they buy something.
Disposable Income
Refers to the amount of money a consumer has left over after paying all essential bills. If a person has more disposable income, they are more likely to buy more items. However, if a person has a small amount of disposable income, then they probably won't spend as much money buying other products.
Refers to the amount of money a consumer has left over after paying all essential bills. If a person has more disposable income, they are more likely to buy more items. However, if a person has a small amount of disposable income, then they probably won't spend as much money buying other products.
Willingness to Spend
This element is all dependant on whether the consumer is confident in their purchase and think it’ll be worthwhile in the long run.
This element is all dependant on whether the consumer is confident in their purchase and think it’ll be worthwhile in the long run.