Two Key Factors that Drive Purchasing Decisions

Consumers of all ages and social classes buy depending on a combination of factors. Including
product features, taste and preference, product need, affordability, trends, to mention but a few.
But at the core of it all. Two factors often drive purchasing decisions. That is;

● Reputation
● Pricing

Let’s talk about them now;

Brand Reputation
Generally speaking, people will always prefer buying from a company that has a good
reputation in the marketplace, such brands are often considered trustworthy and reliable.
Web and social media reviews say a lot about a company. However, word of mouth is the
leading force when it comes to weighing brand reputation.
On this note, business expert Kristin Zhivago writes, “Customers do not give much weight to
seller messages anymore. They talk directly to each other. What your current customers are
saying about you will either help you sell more or drive away business.”

Pricing
For a lot of consumer products, pricing plays a major role in whether or not customers buy.
However, in some cases, it is hardly a factor, especially when it comes to luxury and
health-related goods and services.
Nevertheless, understanding the economic status of your target audience is crucial if you’re
looking to positively influence consumer buying decisions.
In a nutshell, a positive brand reputation and targeted pricing will get you closer to influencing
purchase decisions more frequently. In most cases, these two factors often offset weaknesses
in other areas of the buying journey.

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