What factors affect the consumer decision-making process?

1. Perceived needs and wants: Consumers may be motivated to make a purchase based on either a need or a want. Needs are an objective, physiological requirement that the product or service fulfills. Wants, on the other hand, reflect subjective preferences and desires that may be shaped by culture, society, or individual personality. 2. Perceived consequences: Consumers may consider the potential consequences of making a purchase and weigh the positives and negatives. 3. Attitudes: Consumers may also base their decisions on the attitudes they have developed over time. Attitudes are usually formed through experience or from information from other sources and tend to shape behavior. 4. Financial resources: The amount of available financial resources can affect purchasing decisions. Consumers may be more likely to buy a product if they have the funds to afford it. 5. Time and effort: Consumers often consider how much time and effort will be required to purchase the product. For example, a consumer may choose to purchase a product online if the effort of going to a physical store is too time-consuming or inconvenient. 6. Social influences: Consumers may also be influenced by their peers or other external forces, such as social media or brand advertisements. 7. Self-image: Consumers may also consider how a purchase may affect their self-image. They may be more likely to buy a product if it is associated with a positive self-image or status