Differences Between Micro and Macro Environment
Macro Environment is an outside issue that a company cannot manage, that has a direct persuade on the company’s decision making and strategies. Mainly the…
Marketing
Factors of the PESTEL Analysis
The factors of the PESTEL analysis are the following: Political factors Taxation policy; Trade regulations; Governmental stability; Unemployment policy. Economical factors Inflation rate; Growth in…
Buyer Decision Process
The customer buying process (also called a buying decision process) describes the journey customer goes through before they buy the product. A buying process the…
Individual differences in innovativeness for a New Product
People differ greatly in their innovativeness to try new products. People can be classified into five adopter categories. They are discussed below. Innovators: Innovators are…
How do family and reference groups influence a consumer’s behavior?
The social factors influencing consumer behavior are- a) Family. b) Reference Groups, Family: There are two types of families in the buyer’s life viz. nuclear…
Adoption Process for New Products
The adoption process is a series of stages by which a consumer might adopt a new product or service. Whether it be Services or Products,…
Psychological factors affecting Consumer Behavior
The psychological factors affecting Consumer Behavior There are four important psychological factors affecting the consumer buying behavior. These are perception, motivation, learning, beliefs, and attitudes.…
Importance of Consumer Behavior
Importance of study of consumer behavior can be explained with reference to the points stated as under: Modern Philosophy: It concerns with modern marketing philosophy…
What is market segmentation?
Market segmentation is the first step in defining and selecting a target market to pursue. Basically, market segmentation is the process of splitting an overall…
The requirements for effective market segmentation
The requirements for effective market segmentation are as follows: Measurable The size, needs, purchasing power, and characteristics of the customers in the segment should be…
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