Final answer:
Cultural factors significantly influence consumer behavior by shaping motivations and attitudes, which can change due to internal factors like cognitive dissonance or external influences such as advertising and reference groups.
Step-by-step explanation:
The psychological influence on consumer behavior mentioned in the student's question refers to cultural factors. Culture significantly impacts consumer behavior by influencing motivations, preferences, and decisions. For instance, collectivistic cultures emphasize the needs and goals of the group over the individual, affecting consumer choices such as prioritizing purchases that benefit the family or community. Additionally, culture shapes attitudes and beliefs, which are internal influences that can change due to cognitive dissonance or be swayed by external forces like advertising. Conformity to reference groups, such as one's cultural center or family, also alters consumer behavior as individuals adopt the norms and standards of these groups to fit in or be accepted.