Personal Factors

Question 1

Personal factors

Answer 1

Age and life cycle stage, occupation, economic situation, lifestyle, personality and self concept

Question 2

Age and life cycle stage

Answer 2

• goods and services bought change as people get older as their lifestyle evolves
• tastes are often at times related to age
• marketers often use life cycle stages for groups/individuals to often define their target market, that way they can develop appropriate/suitable products and marketing strategies for each stage

Question 3

Occupation

Answer 3

-affects the goods and services bought
-marketers try to identify occupational groups that have sn above average interest in their products and services

Question 4

Economic situation

Answer 4

Affects products and store choices
- marketers watch trends in personal income, savings and interest rates
- economic downturns result in redesigning, repositioning and repricing of products and services

Question 5

Lifestyle

Answer 5

-A persons pattern of living as expressed in his or her psychographics
-People with the same subculture, social class or occupation may have quite different lifestyles

Question 6

Psychographics in lifestyle

Answer 6

Activities, interests and opinions

Question 7

Personality and self concept

Answer 7

Personality is a unique psychological characteristic that distinguishes a person or a group
Self confidence, sociability, aggressiveness

Question 8

Importance of personality and self concept

Answer 8

-Useful in analysing consumer behavior for certain products or brands
-Brands also have personalities, consumers choose brands that have similar personalities as their own

Question 9

Brand personality

Answer 9

Specific mix of human traits may be attributed to a particular brand

Question 10

Examples of brand personality traits

Answer 10

Sincerity, excitement, competence, sophistication, ruggedness…

Question 11

Self image

Answer 11

Based on personality

Question 12

Examples of self concept

Answer 12

-Actual self concept
-Ideal self concept
-Others self concept

Question 13

Buyer persona

Answer 13

Semi fictional representation of your ideal customer based on market research and real data about yournexisting customers
Contains customer demographics, behaviour patterns, motivation goals etc
Help determine marketing strategy and tactics

Question 14

Consumer ability

Answer 14

Financial resources
Cognitive resources
Emotional resources
Physical resources
Social and cultural resources
Education and age

Question 15

Consumer opportunity

Answer 15

Time
Distraction
Complexity, amount, repitition and control of information