Analysing consumer markets
5 important questions on Analysing consumer markets
What is consumer behavior? (def) and what elements does is consist of
- cultural
- social
- personal
Give 3 elements of social factors:
- family: habits, routines, norms and values
- roles and status
What psychological elements are people influenced to buy:
- perception
- learning
- memories
- emotions
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Explain different stages of the maslow pyramid: (perception)
- psychological needs (food,water)
- safety needs (security and protection)
- social needs ( sense of belonging, love)
- esteem needs ( self-esteem, recognition, status)
- self- actualization needs (self -development)
Explain the buying decision process (five stage model)
- need recognition
- information searching and processing
- identification and evaluation of alternatives
- purchase decision
- post-purchase behaviour
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