What influences consumer behavior? [Video]

Several factors influence consumer behavior, including psychological, social, cultural, personal, and economic. Product marketers must understand how these factors impact the customer buying process so that they can also understand what turns a lead into a converted customer.

We can base our decisions on data, science, and laws if we look at the world of consumer psychology. We’ve spent hundreds of years working to understand how consumers’ brains operate. By applying this understanding to product marketing, we can significantly improve our results.

The decision-making process works in tandem with consumer behavior, but what is consumer behavior, and more importantly, why is it applicable to businesses, as well as the consumer?