Actions are influenced by a group of objectives not just a single one. When the marketers can detect motives then they can develop the marketing mix. The perception of the consumers to select, organize and interpret information inputs to generate meaning also influence the buying behavior. The perception of the consumers is determined by the selective exposure, selective distortion and selective retention. The psychological factors also include the ability and knowledge, attitudes, personality lifestyles etc. Opinion leaders, family of the consumer, reference groups; social class and culture are taken as social factors also affect the needs of the consumers, learning's, motives etc. Since the same person plays different roles like Husband, father, employee, employer etc. marketers feel it essential to regularly update the information as and when necessary. (Chapter 6 Class Notes: What is Consumer Buying Behavior?) The consumer trend is rapidly changing in response to the development of technology, the progressive social diffusion, instantaneous communication and more willingness to accept and due to the inescapable new ideas. As Marita Wesely Clough points out when everything is accessible instantaneously, the capability of assimilating and to differentiate and select is very difficult. The trends and countertrends are often observed to be cyclical as they counteract the positions on generations on priority scales. To illustrate the intention to work harder, attainment and acquisition may be substituted by a kind of emotional exhaustion, an intention for respite that be may be supplemented by a necessity to keep up with Joneses that may result in inclinations towards availing more leisure. The counter trend for this now is the inclination towards working harder so as to earn more for enjoyment is being replaced by the necessity to work less to find the surplus times for enjoyment. The trend of working harder always...
(12 Consumer Trends and Counter Trends)
Further, he claims that business buyers aren't as likely to respond to marketing hype as consumers. In fact, the hype might make business buyers reject the entire marketing message. and, unlike B2C buyers, B2B buyers will take the time to read and digest long and detailed information packages. Varjan notes that B2C buyers buy for personal benefit and that B2B buyers buy for both personal and company benefit. In
It is important to know and understand Generation Y otherwise a product which does not appeal to their requirements would not be popular amongst them and thus not be sold. "All too often marketers pick up on new segments of the youth market, but there is a tendency to overdo it and get caught in the hype. Some of these segments are important, but often segmenting young adults by
Buyer Behavior Buy services and buy products. Intangible vs. Tangible. Tangible products are products that you can purchase contain a tangible good or service that you can actually hold. The easiest way to think about such a good is that is undifferentiated and something like a commodity. Basic goods such as food, coffee, corn, certain materials such as steel and aluminum can all be considered commodities. This means that there is very
Buying Behavior and the Buying Process Interviews, company website, company brochure, press releases Buyers use a variety of factors in selecting a company to provide them with a product or service, including the value proposition, reputation, pricing, and benefits. Start by identifying a company that markets a common, higher-involvement product offered to other businesses. The company that will be discussed in this paper is PDI. PDI has been in operation since 1987 and was
Socio Cultural Aspects on Online Buying Behavior In world of today, survival without internet is extremely difficult as internet serves as an efficient and effective way of communication globally. Earlier when internet was introduced, the focus was mainly to communicate with the people or organizations across the globe. The main purpose was to quicken the process of communication and to enhance the communicating opportunities for businesses in order to improve
Buying Behavior The purpose of the project plan is to identify the behavior of consumers in relation to not only income but also pricing and a number of other factors in relation to the car industry. Effort will also be taken to find the buyers' economy as well as their purchase preferences to the car industry. Consumer behavior: the Automobile Industry It is important to note that today, the automobile marketplace is increasingly
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