Articles
| Open Access |
https://doi.org/10.55640/eijmrms-05-05-07
Factors Influenced by Consumer Behavior and Its Significance in The Economy
Abstract
This article analyzes the factors influencing the consumer behavior model. In particular, it examines how psychological, sociological, cultural and economic factors influence consumer decisions. It also highlights the role of this model in the economy, namely the formation of market demand, the definition of marketing strategies and its impact on the equilibrium in the market for goods and services. By studying consumer behavior in depth, economic entities will be able to make more effective decisions.
Keywords
Consumer behavior, psychological factors, marketing, economic factors
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