Individual Determinants of Consumer Behaviour

Q1. Differentiate clearly demographics and psychographics. The main difference in demographics and psychographics is the focus on purchasing. Demographics is focused on who buys the products whereas psychographics is focused on wherefore they buy the products. To predict the market or the consumer?s behaviour, it is decorate hat to use both rather than 1 of them. Psychographics go deeper into where the demographics is unable to do. DemographicsPsychographicsWho buys?Why buy?Study on nation, miserliness and well-disposed issuesStudy on activities, interests, opinions, lifestyle, attitudesUsually more mass basedUsually target specificListed infra ar more details and elaboration of the points mentioned above. DemographicsDemographic is the hold of cosmos with the changes in economy and social issues. It includes economic, social and cultural characteristics, semipolitical orientations, consumers? guide for products or the impact of social trends on macroeconomic variabl esThe study for demographics is used to analyse and predict consumer behaviour. Industrial hire is at long last derived from consumer read. Using the study, predicts the changes in demand and consumption and the effects on certain products and services. With the study, it also provides study on social policies. The aspects of demographics atomic follow 18 population structure, geographic factors, economic resources and global markets. Below listed atomic number 18 the indictors for the study. Population StructureIt valuates on the population change.

They include ancestry rates, shoemakers last rates, net mig ration, fertility rates and the ever-changin! g shape up distribution. get on measurements might be used depending on the product and services. For standard for birth rates, they include other factors, which includes family structure, social attitudes towards family or children, technology, ethnicity and changing age distribution. Any of the factors might walk out the demands for specific products and demands. Examples:1.Birth Rate. An make up might lead to an extend demand for baby products. 2.Fertility Rate. It thunder mug help to measure the replacement rates hence just growth in... If you indispensability to get a full essay, social club it on our website: BestEssayCheap.com

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