The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society

Importance

Production Policies.

Price Policies.

Rapid Innovation.

Product mix.

Competition.

Distribution Channel.

Sales Promotion.

Characteristics

Dynamic.

Interaction.Exchanges.

Factor Influencing….(Scope)

ENVIRONMENTAL FACTORS BUYER'S BLACK BOXBUYER'S RESPONSEMarketing

StimuliEnvironmental Stimuli

Buyer Characteristics

Decision Process

ProductPricePlacePromotion

EconomicTechnologicalPoliticalCulturalDemographicNatural

AttitudesMotivationPerceptionsPersonalityLifestyleKnowledge

Problem recognitionInformation searchAlternative evaluationPurchase decisionPost-purchase behaviour

Product choiceBrand choiceDealer choicePurchase timingPurchase

Roles

Initiator.

Influencer,

Decider.

Buyer.

User

The VALS-2 network (SRI International)

Believers, Strivers, Makers (Principles)(Status) (Action)

Low Resources, High Innovation

High Resources, High Innovation

Actualizers

Strugglers

Low Resources, Low Innovation

High Resources, Low Innovation

Fulfilled, Achievers, Experiencers (Principles) (Status) (Action)