Influences on Marketing (HSC SSCE Business Studies): Flashcards
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Customer choice (buying behaviour)
Customer choice (buying behaviour)
Decisions & actions when searching, evaluating & buying products
Four main factors influencing customer choice (P-S-E-G)
Four main factors influencing customer choice (P-S-E-G)
Psychological, Sociocultural, Economic, Government
Perception (psychological factor)
Perception (psychological factor)
How people select, organise & interpret info to create meaning
Motive (psychological factor)
Motive (psychological factor)
Individual's reason for doing something
Brand loyalty
Brand loyalty
Favourable attitude to one brand resulting in repeat sales
Social class (socioeconomic status)
Social class (socioeconomic status)
Person's rank based on education, occupation & income
Reference/peer group
Reference/peer group
Group a person identifies with, adopting their attitudes & values
Boom period characteristics
Boom period characteristics
Low unemployment, rising incomes, consumer optimism & confidence
Recession period characteristics
Recession period characteristics
High unemployment, falling incomes, pessimism, price-conscious
Pester power
Pester power
Children's ability to influence parents' purchases by asking