Factors Influencing Consumer Behavior:-

Economic Conditions:-

Consumer spending decisions are known to be greatly influenced by the economic situation prevailing in the market. This holds true especially for purchases made of vehicles, houses and other household appliances. 

Group Influence:-

Group influence is also seen to affect the decisions made by a consumer. The primary influential group consisting of family members, classmates, immediate relatives and the secondary influential group consisting of neighbors and acquaintances are seen have a greater influence on the purchasing decisions of a consumer.

  

Psychological Factors: human psychology plays a crucial role in designing the consumer’s preferences and likes or dislikes for a particular product and services. 

Perception: The consumer perception towards a particular product and the brand also influences his buying decision.  

Attitudes and Beliefs: The individuals have certain beliefs and attitudes towards products on which their purchase decisions rests.

Age: Age and life cycle have a potential impact on the purchasing behavior of consumers. It is obvious that consumers change the purchase of goods and services over time. The family life cycle consists of different stages as young singles, married couples, unmarried couples, etc that help marketers to develop suitable products for each stage.