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Factors that influence people to buy a product


You should spend about 40 minutes on this task.

Present a written argument or case to an educated reader with no specialist knowledge.

Write about the following topic:

Sometimes it is observed that the higher a product is priced, the more likely it is that people will want to buy it.  For many, low prices could also be a reason to purchase something.  

To what extent, in your opinion, does price influence potential buyers?

What other factors influence people to buy a product?

Give reasons for your answer and include any relevant examples from your own knowledge or experience.

Write at least 250 words.

Sample Answer:

In today’s consumer-driven society, the influence of price on potential buyers cannot be understated. It is undeniable that price plays a significant role in the decision-making process of consumers when it comes to purchasing a product. However, the extent to which price influences potential buyers varies from person to person and is also influenced by a multitude of other factors.

First and foremost, it is important to acknowledge the impact of price on consumer behavior. In many cases, a higher price tag can create a perception of quality and exclusivity, leading to an increased desire to purchase the product. On the other hand, lower prices can be appealing to budget-conscious consumers, making them more likely to make a purchase. It is evident that price has the power to sway the decision of potential buyers, whether it be through the allure of luxury or the appeal of affordability.

Nevertheless, price is not the sole determining factor when it comes to influencing people to buy a product. Other factors such as brand reputation, product quality, and personal preferences also play a crucial role in the decision-making process. For instance, a well-established and reputable brand may have loyal customers who are willing to pay a premium for their products, regardless of the price. Similarly, the quality and functionality of a product can outweigh its price, as consumers prioritize value for money over the initial cost.

Furthermore, marketing strategies, peer recommendations, and societal trends can also influence people to buy a product. Effective advertising and word-of-mouth endorsements can create a sense of urgency and desire, prompting consumers to make a purchase. Additionally, the influence of societal trends and cultural norms cannot be overlooked, as they can shape consumer preferences and purchasing decisions.

In conclusion, while price undeniably holds sway over potential buyers, it is just one piece of the puzzle. The decision to purchase a product is influenced by a myriad of factors, including brand reputation, product quality, personal preferences, marketing strategies, and societal trends. Therefore, it is essential for businesses to consider these various factors when targeting potential buyers and crafting their marketing strategies.

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