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Some people believe that the higher a product is priced, the more likely it is that people will want to buy it. To what extent does price influence potential buyers? What other factors influence people to buy a product?

#people #product #price #influence #buyers #factors
It is a known fact that many
people
 believe the costlier a
product
, the more trustworthy it will be, and thereby pique their interest to
purchase
 the
product
.
However
, in
this
 age of globalisation, and the advancement of technology
this
 is no longer the case. In the course of
this
 essay, we shall dig a little deeper into what influences price and what influences
people
 to
purchase
 products.
First
, let us take a look at how price affects potential buyers. Well,
first
 of all, we naturally assume that if a
product
 is costlier, it means that it is made of a superior
product
 quality which enhances our desire.
Secondly
, status is something that many
people
 desire, so, rather than
purchase
 a cheaper local brand, many
people
 will go for the expensive international name, because of the image, having
such
 a possession brings.
For example
, I have an old colleague who bought an INR. 35000/- phone, which had just come out. The only difference between his new phone and his old one was that the camera for the new phone was much sharper than his old one. Now let us look at the various factors that influence a
person
 to
purchase
 a
product
. Some of them are due to brand advertising, as it creates a desire and inquisitiveness in the potential customer. As mentioned earlier, there is the social factor, as individuals always need to fit in society. Cultural factors,
also
 play a role, be it a small one.
Lastly
, personal requirements
also
 play a role, but the role it plays varies from
person
 to
person
. In conclusion, both price and social status are two of the major influencers for a
person
 to
purchase
 products,
however
 now due to globalisation there are more options available in the market,
moreover
, expensive does not equate to quality.
Submitted by Nigelvictorlawrence on

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    • Sentence 3 - Thesis
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    • Sentence 2 - Example
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