There are many levels of factors that could influence the buying behavior of consumers. The buying decisions are strongly influenced by cultural, social, personal, and psychological factors. Culture plays an important role in the decision-making of consumers. Culture refers to the values, beliefs, traditions, and perceptions that guide an individual in decision-making. It is also largely influenced by social factors, such as family, reference groups, and social roles and status. Reference groups expose individuals to new behaviors and lifestyles and shape their attitudes and self-concept. This formation of attitude and self-concept is triggered by direct or indirect points of comparison or reference. The buying behavior of an individual is also influenced by people’s characteristics such as age and lifecycle stage, occupation, economic situation, lifestyle, and personality. The preferences of consumers change with their age. Preferences and choices in food, furniture, clothes, and recreation are usually age-related. Based on the Lifecycle Stage, buying tastes and preferences also change over the years. The buying choices of consumers are further influenced by psychological factors such as motivation, perception, learning, beliefs, and attitudes.

Out of these factors of consumer behavior that we’ve summed up, which ones do you think is the main factor for people to choose their buying decision?