Which term refers to the external forces, such as other people, that influence an individual's buying behavior?

Prepare for your IB Business Management HL exam with curated quizzes featuring multiple choice questions, hints, and explanations. Ensure your readiness and confidence for the IB diploma!

Multiple Choice

Which term refers to the external forces, such as other people, that influence an individual's buying behavior?

Explanation:
External social influences are the pressures and cues from other people that shape what a consumer buys. Family, friends, peers, reference groups, and online communities can affect which products are considered, which brands seem desirable, and what features are valued. This differs from internal factors like personal preferences (your own tastes) and brand loyalty (habit of sticking with a brand), as well as from economic factors (price and income) that relate to budget rather than social pressure. So the term that best describes the influence of other people on buying decisions is social influences.

External social influences are the pressures and cues from other people that shape what a consumer buys. Family, friends, peers, reference groups, and online communities can affect which products are considered, which brands seem desirable, and what features are valued. This differs from internal factors like personal preferences (your own tastes) and brand loyalty (habit of sticking with a brand), as well as from economic factors (price and income) that relate to budget rather than social pressure. So the term that best describes the influence of other people on buying decisions is social influences.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy