There are many factors that can affect consumer tastes. Consumer tastes, in turn, affect demand for various things. Among these factors are:
- Marketing. Good advertising campaigns can alter consumer tastes; this is a major reason for advertising.
- Culture. People from different cultural backgrounds will tend to have different tastes. For example, someone from a very conservative cultural background will be likely to have different tastes in women’s clothing than someone from a more liberal one.
- Income and wealth. As people’s incomes change, so can their tastes. For example, a person who was once quite happy with a Toyota Camry may become rich and come to think that only a Mercedes will do.