DM2 Influencing Factors
Very rarely will decisions be made without external influence.
Below are some factors that might play a role with the example of buying a car.
Social Pressure
Recommendations: Eg friends encourage us to buy new car or upgrade
Social Status: Eg. Being tempted by a neighbour’s new car of by someone driving the latest model
Family needs or requests: Eg. a car for work or school travel
Prices and Financing
Affordability: Eg price drop or second-hand car available with attractive price
Financing: Eg. banks may offer car loans that seem affordable on monthly basis
Announcements and Promotions
Short term deals: Eg car deals during Ramadan encourage impulse decisions
Sales people: Eg a convincing pushy salesperson on a phone call or on a visit to car showroom
Advertising: Eg tempted by a celebrity endorsing a car or a beautiful advert on youtube
Life events
Job or career: Eg additional income from a salary increase or new job may tempt us to finance a new car
Family structure: Eg new family additions leads to purchase or larger capacity car