What is Purchase Intention?
Purchase intention is the level of motivation that customers have to buy a product or service. It is an important concept in marketing and consumer behaviour, as it is a measure of how likely a customer is to purchase a particular product or service. It is based on a customer’s motivation to purchase a product or service, and is determined by a combination of factors, such as brand recognition, perceived quality, price, and product or service features.
Factors that Influence Purchase Intentions
The level of purchase intention is not static, and can be influenced by a variety of factors. These include:
- Perceived Quality: The perceived quality of a product or service is a major factor in determining a customer’s purchase intention. Customers are more likely to purchase products or services that they perceive to be of high quality.
- Price: The price of a product or service is another factor that can influence purchase intention. Consumers are more likely to purchase products or services that they perceive to be good value for money.
- Brand Recognition: Brand recognition is an important factor in purchase intention. Customers are more likely to purchase products or services from a brand that they are familiar with, or that they perceive to be reputable.
- Product or Service Features: The features of a product or service can also influence purchase intention. Customers are more likely to purchase products or services that offer features that they perceive to be useful or beneficial.
Conclusion
Purchase intention is an important concept in marketing and consumer behaviour, as it is a measure of how likely a customer is to purchase a particular product or service. There are a variety of factors that can influence purchase intention, such as perceived quality, price, brand recognition, and product or service features.
Further Reading