An analytical study of factors influencing consumers’ preferences

Consumers’ buying behaviour and the resulting purchase decision are strongly influenced by cultural, social, personal and psychological characteristics. An understanding of the influence of these factors is essential for marketers in order to develop suitable marketing mixes to appeal to the target customer. One of the indicators of the strength of a brand in the hearts and minds of customers is brand preference. Brand preference represents which brands are preferred under assumptions of equality in price and availability. Buying Behaviour is the decision process and acts of people involved in buying and using products. The article examines the influence of socio economic variables on Consumers’ buyer behavior and on their brand preference towards home appliances.