Purchase Intention

Posted in Marketing and Strategy Terms, Total Reads: 7688

Definition: Purchase Intention

The willingness of a customer to buy a certain product or a certain service is known as purchase intention. Purchase intention is a dependent variable that depends on several external and internal factors. Some of the factors are as follows:

Stimulus/Trigger: The cue that triggers a buyer towards considering a product or a brand to be included in their consideration set. This might be the attributes of a product or simply its packaging

Outcome expectation: The outcome expected out of the use of a product or a service

Aspirational Value: The product might satiate some aspirations of a buyer. For ex. A luxury car

Recommendation: Recommendation by a trust worthy or reliable source

Emotional association: Being emotionally associated with a product or a brand owing to the brand’s perceived personality

Other factors can be perception about the product, associated risks and costs.

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