Consumers

Cultural factors
• Culture is the most fundamental determinant of a person’s wants and behavior.
• Subcultures provide more specific identification and socialization for their members.
• Social classes are homogeneous and enduring divisions in a society.
Social factors
• Reference groups - all of the groups that have a direct (face-to-face) or indirect influence on a person’s attitudes or behavior.
• Social role consists of the activities that a person is expected to perform. Each role carries a status.
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Personal factors
• A lifestyle is a person’s pattern of living in thr world as expressed in activities, interests, and opinions.
• Personality refers to the distinguishing psychological characteristics that lead to relatively consistent and enduring responses to environment.
Psychological factors
• A motive is a need that is sufficiently pressing to drive the person to act.
• Perception is the process by which an individual selects, organizes, and interprets information inputs to create a meaningful picture of the world.
• Learning involves changes in an individual’s behavior that arise from experience.
• A belief is a descriptive thought that a person holds about something.
• An attitude is a person’s enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies toward some object or idea.
Buying roles
• initiator,
• influencer,
• decider,
• buyer,
• user.
The stages of buying decision process
• problem recognition,
• information search,
• evaluation of alternatives,
• purchase decision,
• postpurchase behavior
Organizations
• (Business markets)
Business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others: profit-seeking companies, institutions, and government agencies.
• Business market consists of all the organizations that acquire goods and services used in the production of other products or services that are sold, rented, or supplied to others: profit-seeking companies, institutions, and government agencies.
Characteristics of business markets
• Compared to consumer markets, business markets generally have fewer and larger buyers, a...

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