Factors Influencing the Buying Decisions of Consumers - Coursework Example

In order to understand consumption and what makes consumers prefer certain products or services over others, there is a need to examine beyond the dominant economic understanding of consumers and their behavior and instead think on the origin of desires, needs, and preferences which are further influenced by people around us.... Social conversations and consumption: differentiation and conformityThe behavior of consumers is greatly influenced by the people living around them: lifestyles, families, friends, and colleagues both fictional and real portrayed in media such as TV, magazines among others....