Some people believe that the higher a product is priced, the more likely it is that people will want to buy it. To what extent does price influence potential buyers? What other factors influence people to buy a product?
People have different views about whether the price of a product affects on customers. While the price has a considerable impact on buyers, there are several factors influcence comsumers.
At the outset, it is true that a majority of consumers tend to consider how much does a product cost before purchasing. If the price of a product is by far higher than that of customers’ finacial ability, the customers fail to buy that goods. Students, for example, are likely to select a laptop with reasonable prices in accordance with their educational demand instead of a luxirious laptop because they understand that their finance status is limited. Additionally, the producers have to make a survey in relation to customers’ income before providing goods to markets. A new product which accord with consumers’ income allows those goods to consume in a mass.
On the other hand, there are other factors contributing to customers’ decision for purchasing goods. Firstly, the quality of products is a key factor which numerous customers set priorities. If there are two products which their prices are approximately, the customer tend to chose high quality products even though its price is slightly higher. Secondly, customers would probably buy a products with eye-catching side. A typical example is that children require their parent to buy products having attractive designs. Finally, the brand of goods plays a vital role in choosing products. This explains why an enormous amount of budget has run for marketing campaigns in companies.
In conclusion, although the price of goods influence customers’ decision, several factors have a significant impact on how consumers buy products.