Research Background
Different factors usually influence customers when deciding on the right products to buy. The factors range from psychological, social, cultural, personal, and economic factors (Hanaysha, Al-Shaikh, & Alzoubi, 2021). These factors help customers categorize themselves in the right place and know how to purchase products. Further, the customers know the products they cannot buy based on the state’s categorization criteria. However, other issues related to the product can affect the purchasing decision of the customers. Every product has unique characteristics that make the customer consider them before purchasing. Such characteristics usually help the customer understand the right product to satisfy the current need. Customers expect the product to satisfy their needs (Ansari et al., 2019). Thus, the company producing the product has to understand the customer and respond to their needs. Without understanding the customer, it becomes hard for the products to be of any value to the customer. The paper will seek to understand how the product and the company producing the product can influence the customer to decide.
One of the most critical characteristics of a product that helps customers in making purchasing decisions is the quality of the product. Quality helps customers form reasonable expectations about a product they need to buy. The benefits of the products have to outweigh the money the customer will pay for them. When customers are of good quality, they will increase their chances of buying the product when they need to meet the needs that such a product usually meets. Further, having the right quality helps customers in forming a perception of a specific product. Perception can be a critical marketing tool when it is positive. Further, the quality of the product can be a critical factor in helping develop customer perception about a specific brand. For example, Toyota motors have been seen as one of the companies that have constantly produced reliable vehicles compared to the competition in the market. Such perceptions mean that Toyota is seen as one of the most reliable vehicle manufacturers, even if some brands might not be as reliable as competitors. The belief that Toyotas are more reliable means that people who want reliability will focus more on the Toyota brands. Therefore, having brands with the right quality can be critical in helping a company improve itself and act as a competitive advantage.
Another critical factor that plays a role in the purchasing decision is the product’s price. Pricing usually affects the purchasing decision of the customer when such a product is in abundance in the market, and there are substitute products. A price increase will discourage customers from purchasing a product that is abundant in the market. On the other hand, when prices are lowered, customers will likely be more attracted to the product if the quality is maintained. For customers to be satisfied, the product has to meet their needs and give them value for their money (Nabella, 2021). When customers realize that a specific product priced specifically will meet their needs, then the customers will happily buy the product. However, the company must also ensure they are not lowering the price too much since that might make customers perceive the product differently.
Further, customers need convenience in making purchases. The mode of availing products to the customers usually means that customers can access the products they want using the methods they want. For example, online purchasing has made it easy for people to buy products at their convenience and have them delivered (Ali & Anwar, 2021). Such markets have ensured that companies have access to a larger market, meaning most producers are now enjoying economies of scale. However, online purchases might not work for every industry, especially in luxury, where customers usually want to see the product before purchasing. Further, the customer experience, essential in the luxury business, is usually lost when a luxury brand is sold online. Therefore, both online and offline purchases have advantages and disadvantages. Every customer makes purchasing decisions based on their needs at every time.
Significance of the research topic
The research topic will help bring significant input in understanding what influences customers to purchase a specific product. Different issues usually influence customers at different times. Therefore, the study will focus on the part of the company and what the company can do to make its products marketable. Further, the research will help in analyzing customer behaviour at different times. When customer behaviour is analyzed, it will be easier for companies to know how customers will respond to the same products at different times. For customers to consider buying a product, it must satisfy their needs. Therefore, every company has first to understand the needs of the customers. The products or services a company offers have to be aligned with the customer’s needs.
Every organization has to take the proper steps to improve its products and ensure that it creates a positive perception of the customers. In every company activity, the customer must be the central point (Jasmani & Sunarsi, 2020). Therefore, the study will help the company understand customer behaviour and what influences their decision-making at different times. Further, the research will be critical in helping companies understand the proper steps to take to satisfy customers from different levels of life. Therefore, the study will be a critical addition to the literature on customer purchasing decisions. Thus, choosing the research topic is critical in helping companies know how to analyze the market and ensure they gain a competitive advantage over the competition.
References
Ali, B. J., & Anwar, G. (2021). Marketing Strategy: Pricing strategies and their influence on consumer purchasing decisions. Ali, BJ, & Anwar, G. (2021). Marketing Strategy: Pricing strategies and their influence on consumer purchasing decisions. International Journal of Rural Development, Environment and Health Research, 5(2), 26-39.
Ansari, S., Ansari, G., Ghori, M. U., & Kazi, A. G. (2019). Impact of brand awareness and social media content marketing on consumer purchase decision. Journal of Public Value and Administrative Insight, 2(2), 5-10.
Hanaysha, J. R., Al-Shaikh, M. E., & Alzoubi, H. M. (2021). Importance of marketing mix elements in determining consumer purchase decision in the retail market. International Journal of Service Science, Management, Engineering, and Technology (IJSSMET), 12(6), 56–72.
Jasmani, J., & Sunarsi, D. (2020). The influence of product mix, promotion mix and brand image on consumer purchasing decisions of sari roti products in South Tangerang. PINISI Discretion Review, 3(2), 165-174.
Nabella, S. D. (2021). Improve Consumer Purchasing Decisions Through Quality of Service, Promotion and Quality of Information at PT. Ng Tech Supplies. International Journal of Science, Technology & Management, 2(3), 880-889.
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