personal income saving and interest rate lifestyle a persons pattern of living

Personal income saving and interest rate lifestyle a

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(personal income, saving and interest rate),lifestyle(a person's pattern of living as expressed in his or her activities, interests and opinions)and personality (the unique psychological characteristics that distinguish a person or a group)and self-concept (The idea is that people’s possessions contribute to and reflect their identities) Psychological factor – motivation, (motion or drive; A need that is sufficiently pressing to direct the person to seek satisfaction of the need.)perception (is the process by which people select, organize, and interpret information to form a meaningful picture of the world) there are 3 perceptual processes – selective attention, selective distortion and selective retention. Learning (describes changes in an individual’s behavior arising from experience) and beliefs and attitudes.(beliefs is a descriptive thought that a person holds about something which based on knowledge, opinion or faith) (attitudes describes a person’s relatively consistent evaluations, feelings, and tendencies toward an object or idea) 3.Describe thefive stepsof the buyer decision process. (textbook, pp. 212–215)
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4. Outline the stages in the adoption process , and discuss the influence of individual differences and product characteristics on new product adoption. (textbook, pp. 215–218) Define the adoption process as the mental process through which an individual passes from first learning about an innovation to final adoption. Adoption is the decision by an individual to become a regular user of the product. Stages in the Adoption process Awareness - The consumer becomes aware of the new product but lacks information about it. Interest - The consumer seeks information about the new product. Evaluation - The consumer considers whether trying the new product makes sense. Trail - The consumer tries the new product on a small scale to improve his or her estimate of its value. Adoption - he consumer decides to make full and regular use of the new product. 5.Definebusiness market,and explain how these markets differ from consumer markets. (textbook, pp. 218–221)
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