2. It is the study of How consumers select, buy, use and dispose off products to
satisfy their needs and wants.
It refers to the actions of consumers in the
marketplace and underlying motives of
those actions.
3. Age
As people grow, their needs change.
Changes come in their tastes and choices.
Age is important factor for market segmentation and marketing strategy.
4. Income
Consumer purchasing power impacts his buying decisions.
Sometimes choices are affected by affordability.
Consumers can buy luxuries through money, not by choices.
5. Personality and self concept
Consumer usually choose brand that match their own personality.
Brand Personality is a set of human traits brand like sincerity, competence,
peaceful etc.
6. Life Style And Values
Lifestyle mean the ways groups of consumers spend time and money.
Some people are Time oriented and pay more
to get task on time.
Others are Money oriented and prefer lower
cost products and services.
