Consumer Preferences and Purchase Decisions: A Quantitative Study

Abstract

It is crucial for businesses to understand consumer patterns if they wish to create successful market solutions and have a sustained competitive edge. Consumer preferences are a direct reflection of people’s views, feelings, and thought patterns and are usually associated with a particular buying decision. This research looks at the process of buying and the influencing factors of consumer preference; brand image, perception of price, attributes of products, and the marketing mix. A conceptual framework which incorporates Utility Theory, Theory of Planned Behavior, and Consumer Choice Theory is used and tested. Techniques used for data analysis relate to correlation, multiple regression, and descriptive statistics. The results show that of the several dimensions of consumer preference, perceived quality and brand image are most likely to influence a consumer’s buying decision. The research gives the consumer behavioral research literature actual data on the different dimensions that affect consumer preference and the buying decision process.