Page 137 - DMGT551_RETAIL_BUSINESS_ENVIRONMENT

Retail Business Environment

Notes
Example: M & “X” plays the role of father, in his family he plays the role of husband, in
his company, he plays the role of manager, etc.
A role consists of the activities people are expected to perform according to the persons around
them.

Personal Factors

It includes:

Age and Life cycle Stage: People change the goods and services they buy over their lifetimes.
Tastes in food, clothes, furniture, and recreation are often age related. Buying is also
shaped by the stage of the family life cycle.
Occupation: A person’s occupation affects the goods and services bought. Blue collar
workers tend to buy more rugged work clothes, whereas white-collar workers buy more
business suits. A company can even specialize in making products needed by a given
occupational group. Thus, computer software companies will design different products
for brand managers, accountants, engineers, lawyers, and doctors.
Economic situation: A person’s economic situation will affect product choice.

Life Style: Life Style is a person’s pattern of living, understanding these forces involves
measuring consumer’s major AIO dimensions, i.e. activities (Work, hobbies, shopping,
support, etc.) interest (Food, fashion, family recreation) and opinions (about themselves,
Business, Products)

Personality and Self concept: Each person’s distinct personality influences his or her
buying behaviour. Personality refers to the unique psychological characteristics that lead
to relatively consistent and lasting responses to one’s own environment.

Psychological Factors

It includes these Factors

Motivation: Motive (drive) a need that is sufficiently pressing to direct the person to seek
satisfaction of the need.
Perception: The process by which people select, organize, and interpret information to
form a meaningful picture of the world.
Learning: Changes in an individual’s behaviour arising from experience.
Beliefs and attitudes: Belief is a descriptive thought that a person holds about something.
Attitude, a person’s consistently favourable or unfavourable evaluations, feelings, and
tendencies towards an object or idea.

Task Review the different motivations for shopping. Give an example of a shopping
incident that would illustrate each one.

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