Purchase – what factors influence purchasingBack to Glossary
- Maintain the value of the company’s product.
- Minimize cash held up in inventory.
- Maintain the flow of inputs and outputs.
- Strengthen the competitive edge of the company.
Organizations and companies make use of models to maximize the value of their customers’ purchasing.
Read how to increase your online sales.
Factors that influence purchasing
Physical surrounding – this includes location, atmosphere, weather and even sounds among other aspects. Physical surroundings usually affect purchasing decisions. These surroundings can alter the buyer’s decision easily.
Social surrounding – this involves the interactions the buyer has with other people in the surroundings. This can include direct or indirect interactions. It is ideal for the seller to be aware of factors that may add or remove the influence others have on their clients.
Time – time constraints on a buyer can cause cart abandonment. It is, therefore, ideal for the seller to make the buying process as efficient as possible.
These factors can all be translated from the physical world to the online world. Check out our blog for techniques on how to get your customers to purchase your products.
Reason for wanting to purchase
The emotion and influence behind the need to purchase directly affects the reason for purchase. It is important for the seller to understand the different reasons that compel clients to purchase. They need to meet these reasons to boost sales.
This is how we increased profits by 95%.