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Psychological Influences
Social Influences
Economic Influences
Stimulus Influences
Role of Marketing
Consumer Behavior
E
conomic Influences affect the limit of a consumer on how much to spend. The consumer can't over spend so they limit themselves.
Economic Influences
Demand is a function of price, income, price of other goods, preference, and expectations about the future.
Price
cost of product
cost of substitute products
cost of complimentary goods
Credit
availability
interest rates
credit terms
Disposable Income
state of the economy
employment/ unemployment
inflation
interest/mortgage rate
wage rates
Willingness To Spend
consumer confidence
future expectations of standard of living
competition for purchases
existing purchases