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To what extent does price influence potential buyers? What other factors influence people to buy a product

What other factors influence people to buy a product DlYWA

In today’s globalized era, when buying a product or any goods, there are numerous factors that influence the customers. Many believe that price is the only determinant while opponents argue that such instruments as quality and brand name also holds significant importance. In this essay, we will discuss the extent to which price is a deciding factor and look at factors, besides price, that influences the purchase. To start with, on economic grounds, the satisfaction levels are directly proportionate to the cost of the product. Although people's decisions will still be influenced by the quality and quantity of a product, price remains to be a crucial factor that helps one make a decision. Clearly, even if the quality looks impeccable, one will only buy a product if it seems to be value for money. An example for this is the purchase of clothes from such brands as Hugo Boss and Guess. Despite the fact that products are of high quality, a customer is only going to buy if the product seems to be a match for the asking price. In short, the purchasing decisions of buyers are heavily price-driven. Besides this, quality and brand value are some of the other important factors that impact the choice of any purchase. If someone's personal preference is to buy a quality product or a luxurious brand, they would not ponder over purchasing an expensive product. For instance, branded grocery items are usually more expensive than the home brand products, but many choose to pay a higher price for the quality and brand. In short, the aforementioned factors shape the shopping habits of people. To conclude, there are many bases on which customers make their choice. As discussed, price is a major factor, yet it is undeniable that many customers tend to make their decision based on factors like quality and company reputation.

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