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Cultural factors- culture, sub-culture, social class.
Social factors- groups & peers, family background & influence, roles & status.
Personality factors-Age brackets & life-cycle stages, occupation, economic situation, income levels, lifestyle, personality & self concept.
Psychological factors- motivation, morale & bandwagon effect, persptions & superstions, learning & rile playing (imitation), beliefs & attitudes
It All depends on the type of consumer we are focusing on.
There are two Type of consumers in every market:
1. Who give preference to Quality,
2. Who give preference to Quantity.
Both have their respective desires to persue.
The market containing Quality prefering consumers will be influenced with:
* New Trends
* Technology
* Side Services
* Efficiency
The Market containing Quantity prefering consumers will be influenced with:
* Amount of Product
* Price of Product
* Amount of discount
* Quantity of free / extra with purchasing
* Bulk discounts
* Settlement discounts.
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