Personal and Psychological Factors in Consumerism
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I am having trouble describing some of the personal and psychological factors that may influence what consumers buy and when they buy it. Also, how do low-involvement decisions differ from high-involvement decisions in terms of relevance, price, frequency, and the risks their buyers face? Lastly, what are some ways in which business-to-business (B2B) markets differ from business-to-consumer (B2C) markets?
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The expert examines personal and psychological factors in consumerism.
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Please see attached. Hope this helps! Good luck!
I am having trouble describing some of the personal and psychological factors that may influence what consumers buy and when they buy it. Also, how do low-involvement decisions differ from high-involvement decisions in terms of relevance, price, frequency, and the risks their buyers face? Lastly, what are some ways in which business-to-business (B2B) markets differ from business-to-consumer (B2C) markets?
Please 300+ words (Not sure if you wanted 300+ for each question so I gave you a bit more)
Psychological Factors
Psychological factors that influence what consumers buy and when they buy it include motivation, perception, learning, personality, and attitude. The first stage of the consumer buying-decision process is need recognition (consumer is moved to action by a need or desire). Thus, motivation is the starting point because this encompasses the needs (security, social acceptance, and prestige). ...
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