What external factors or macro factors impact consumer buying decisions?
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See attached Pdf has some good information.
The marketing environment can be examined at two levels:
? the macro environment - this includes economic, social, cultural, political & legal, physical and technological forces which shape the nature ...
The solution includes a link to a scholarly source for buyer behavior, and also summarizes the effects in the macro and micro environment.
Evaluation of Consumer Behavior
I need help with a 1,050-1,400-word summary in which you address the following:
Discuss how the following consumer behavior concepts are applied by answering the following questions:
1) What additional external factors or macro factors should be considered in your analysis.
2) What additional social and cultural factors would you consider in this scenario?
3) How do you account for variations in different geographic regions?what do you really look for? Why is there a difference?
4) Considering the importance of keeping existing customers, what methods can be used to encourage loyalty among existing customers in a service business?
Analyzing Buyer Behavior
Buyer Behavior refers to everything from a consumer's beliefs about a brand to the actions that culminate in the purchase of that brand. Factors ranging from cultural patterns, to income levels of consumers, to the nature and price of the product, can affect Buyer Behavior. This simulation illustrates the use of Buyer Behavior analysis to arrive at quantifiable information on which investment decisions can be based.