Examining Psychological, and Economic Determinants of Consumer Purchase Behavior Strategic Implications for Supply Chain Management of Banana Retailers, and Sustainability of the Banana Industry in Nueva Ecija

Abstract

The study emphasized the understanding of consumer behavior in the key areas that determine their decision-making, which is fundamental for business to maintain its competitiveness and to satisfy customers. It further divided these three primary categories: psychological factors- motivation, perception, and attitude; social influences-families and peers; and economic factors-income and price sensitivity.The descriptive correlational design was utilized in this study as it had established a relationship between factors and consumer behavior of banana retailers in Nueva Ecija. Questionnaires were used by the researcher through convenience random sampling in gathering data that would have mixed representation of different respondents. Psychology factors, specifically motivation, perception, and attitude, were strongly found to influence a consumer's purchase decision. Social factors, including family and friends, and economic factors, including income and price sensitivity, increase these effects. The results indicated that businesses should have emphasized health-conscious messaging, ethical branding, and social and family dynamics in their marketing strategies. In addition, sustainable practices were suggested as a way to create trust and loyalty among consumers, thus showing how these factors are interlinked in the development of successful business strategies.