What factors influence purchase decisions?

What factors influence purchase decisions?

Several factors can influence purchase decisions, including price, quality, brand reputation, and personal preferences.

How does brand reputation affect buying choices?

Brand reputation can significantly impact buying choices as consumers often associate well-known brands with quality and reliability.

What role does social media play in influencing purchases?

Social media can shape purchase decisions by providing reviews, recommendations, and advertisements that reach a wide audience.

Are there psychological factors that affect purchasing?

Yes, psychological factors like emotions, perceived value, and cognitive biases can greatly influence how consumers make purchasing decisions.

Can you give examples of cognitive biases in shopping?

Sure! Examples include the anchoring effect, where initial prices influence perceptions of value, and the scarcity principle, which makes limited items more desirable.