Major Factors Influencing Consumer Behaviour of Goods and Services: A Theoretical Perspective.

Abstract

The researcher adopted an inductive approach to the study of factors influencing consumer behaviour of both physical goods and services.  The paper seeks to establish a relationship between consumer behaviour and certain identified factors like, culture, social institutions, reference group, personal and psychological. It was found that consumer behaviour with respect to physical goods and services is influenced by both endogenous and exogenous factors. And this has wide implications not only for marketing but also for other allied disciplines. The paper has stimulated research into why consumers behave the way they do.