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Social identity factors include culture, sub-culture, and reference groups. Other factors that may affect the purchase decision include the environment and the consumer's prior experience with the category or brand.
As part of consumer behavior, the buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. It can be seen as a particular form of a cost–benefit analysis in the presence of multiple alternatives. [1] [2]
George Moschis and Gilbert A. Churchill Jr posit that mass media, parents, school and peers are all agents of consumer socialization. According to this theory children and young adults learn the rational aspects of consumption from their parents while the mass media teaches them to give social meaning to products; schools teach the importance of economic wisdom and finally peers exercise ...
Market environment and business environment are marketing terms that refer to factors and forces that affect a firm's ability to build and maintain successful customer relationships. The business environment has been defined as "the totality of physical and social factors that are taken directly into consideration in the decision-making ...
Social marketing can be confused with commercial marketing. A commercial marketer may only seek to influence a buyer to purchase a product. Social marketers have more difficult goals. They want to make potentially difficult and long-term behavior changes in target populations, which may or may not involve purchasing a product.
Lastly, consumers consume and make purchase decisions in certain ways. Exogenous Factors: These external influences can be categorized into economic conditions, social trends, technological advancements, legal frameworks, and competitive dynamics among others. Economic conditions play a pivotal role in shaping marketing decisions.
Cultural factors may influence this decision, as different cultures value different things, and subcultures may have different priorities when it comes to purchasing decisions. Social class, including wealth, education, and occupation may affect one's purchasing behavior. A consumer's interpersonal relationships and reference groups may also ...
Social media is a social medium, in the form of technology, that moderates, initiates, or influences communicative processes. [3] It not only allows users to build a page or platform on each specific website, but also encourages content creation of their choosing. Not only that, but social media is another relatively "new" wave of communication.