Final answer:
Consumer decisions are influenced by personal values, cognitive dissonance, selective attention, and external sources of persuasion, such as facts and positive cues. External societal factors including conformity, compliance, and obedience also play significant roles in shaping consumer behavior.
Step-by-step explanation:
The consumer decision process is multifaceted and influenced by various factors. Beyond basic supply and demand, individuals' decisions are shaped by personal values, cognitive dissonance, and selective attention. Cognitive dissonance refers to the discomfort experienced when one's behaviors and beliefs are misaligned, often leading to a change in attitude or behavior to reduce the discomfort. Selective attention, on the other hand, manifests when consumers focus on certain stimuli while ignoring others, greatly affecting the marketing messages they perceive and respond to. Additionally, personal values significantly drive purchasing behavior, as consumers tend to make choices that align with their value systems.
External factors such as advertising play a role too. The central route of persuasion relies on facts and information, whereas the peripheral route capitalizes on associations with positive cues like beauty or fame. Lastly, societal factors like conformity, compliance, and obedience can drive consumer decisions, sometimes even against their personal values or better judgment.