PSY322 Environmental and Consumer Influences Analysis Paper

Mar 29th, 2015
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Environmental and Consumer Influences Analysis Paper

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Environmental and Consumer Influences Analysis PaperNameClassDateProfessorEnvironmental and Consumer Influences Analysis Paper Apple, Inc. is one of the fastest growing companies in America that has a reputation for selling quality and innovative products. Due to this fact many of their products are highly sought after by the public especially the Ipad. Because the products provide by Apple are high end and generally a higher price point than similar products on the market their popularity is not due to price. Consumer behavior directly impacts consumer spending and the type of product they will seek out. Three factors that directly impact consumer behavior include the economic factor, technological factor, and cultural factors. Economic Factor A consumer's decision to buy a product is heavily influenced by the cost. In the case of the Apple Ipad the cost for the product is high when similar products are several hundred dollars less. A consumer that does not have access to the funds to buy the Ipad will settle for a cheaper product. Despite the high expense of this product it has been a hot selling item since it introduction into the market in 2008. Research has shown that despite the high cost of the product that economic decisions to buy the product are not just based on the price but also the consumer's perception and motivation to buy the product (Herald, 2008). When a consumer wants a product bad enough they will engage in creative bu

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