Individual Determinants of Consumer Behaviour

Q1. Differentiate clearly demographics and psychographics. The main difference in demographics and psychographics is the focussing on purchasing. Demographics is focused on who buys the products whereas psychographics is focused on because they buy the products. To predict the market or the consumer?s behaviour, it is snip off 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 community, scrimping and neighborly issuesStudy on activities, interests, opinions, lifestyle, attitudesUsually more mass basedUsually target specificListed below ar more details and elaboration of the points mentioned above. DemographicsDemographic is the hold of people with the changes in economy and social issues. It includes economic, social and cultural characteristics, political orientations, consumers? guide for products or the impact of social trends on macroeconomic variablesThe study for demographics is used to analyse and predict consumer behaviour. Industrial collect is at long last derived from consumer solicit. Using the study, predicts the changes in demand and consumption and the effects on certain products and services. With the study, it also provides schooling on social policies. The aspects of demographics atomic moment 18 population structure, geographic factors, economic resources and global markets. Below listed atomic number 18 the indictors for the study. Population StructureIt criterions on the population change.

They include assume rates, shoemakers last rates, ne t migration, fertility rates and the ever-ch! anging get on 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 make a motion the demands for specific products and demands. Examples:1.Birth Rate. An make up might lead to an improver demand for baby products. 2.Fertility Rate. It thunder mug help to measure the replacement rates hence just growth in... If you need to get a full essay, social club it on our website: BestEssayCheap.com

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