Discussion 4 Business & Marketing Essay Research Paper

Title
Your name
Subject and Section
Professor’s name
Date of Submission
Consumer Buying Factors in Buying Luxury Products
Consumer behavior encompasses a diverse set of actions. These behaviors guide the decision-making process when buying a particular product. Typically, an individual consumer attempts to satisfy their necessities and demands by accepting what is best for them.
Some of the factors that influence the decision-making of a buyer include the following: 1) Social factors depend on the particular group where the consumer belongs. These groups have reference groups, roles and statuses, and family. These groups are called membership groups, which influence the lifestyle of the consumer. This is the primary factor that affects the behavior of the consumer in buying luxury products like expensive bottled water.; 2) Personal factors involve the customer’s life cycle state, age, profession, lifestyle, financial situation, and personality. Those who prefer expensive bottled waters are most likely sophisticated individuals who belo...