Answer
✓ personal or demographic factors have great influence over consumers' decision making to buy certain products or services. These factors play important roles that makes the people decide whether an offering is worthy to buy or not. Demographic factors involves age, gender, income and many other, that have greater impact on the customers buying patterns, perception, and utilities.
There are people who have different age groups, income levels, gender differences, who think differently and have different lifestyles. Millenials have different needs and more focus on the fashion and lifestyle products, whereas, elders don't primarily care about lifestyle, they are more concerned about health and wellness, thus they focus on Saving more. Males and females have different needs, and they prefer very diversed products or services than males. Thus, some products are meant for only specific groups. Income levels also matter a lot, deciding whether to purchase a product or to refrain from it. An individual who have low income won't spend a lot on the stuff that is not really necessary for his life, but a rich person, can spend a lot on luxury and have all the stuffs that are not really necessary.
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