Week 2 Forum
685Y Tbjbj 9 9
Week 2 Forum
Your Name (First and Last)
Institution or School name
Question and Answers
Answer number 1
At times personal and psychological factors can be a huge factor in why a customer purchases or not buys a product. Personality is made up of the unique traits that an individual has. The five traits can impact consumers purchasing behavior. For instance, if an individual has the trait of openness in high amount, they will take product advertisement which is graphic in better manner. If the openness is low, consumers might not even watch the product advertisement, hence influencing their buying behavior. This might influence the way they purchase a product. Another thing that impacts buying behavior is a customer being outgoing or shy. This trait will either make a customer a spender or a penny pincher. A factor of how hard a customer has worked to earn their money can have an impact on the buying strategy. They might not make purchases regularly (Thompson Prendergast, 2015).
Similarly, age, sex, and stage of life can have an impact on how a buyer purchases. An 8-year-old child will not want a beer, the same way, a woman, will not be interested in beard products. Lifestyle can have a huge impact on buying behavior as well. People who are very rich can spend without thinking all the time, but middle-class people have to think twice before making a purchase and make purchases with regards to the time of the month. When it comes to psychological factors, Maslows hierarchy can explain the factors that impact buying behavior. First, a customer will focus on the basic needs like buying food when hungry, water when thirsty and sleep before they jump to higher level needs. Purchasing necessities will be inevitable, but luxury products come further ahead. Shock advertisement can also have an impact on the consumer.
Answer number 2
Business to business market differs from business to consumer markets on many levels. For starters, the number of products that are being sold in the business market varies from the number of products that are being sold in the consumer market. The customer market gets the end product as opposed to the business market, in which to make a product, uncountable purchases have to be made. We can take the example of HP. To make a laptop, the business has to make purchases from various sellers. It is not at all simple.
In the customer market, if one wants to buy shampoo, all they have to do is go to the market and buy. It is not like a separate plastic bottle is purchased, then ingredients are bought to make product and then a shampoo is taken home (Liu et al., 2018). It is simple, brands have complete products present in the market, and all the customer has to do is choose in regards to the requirement. It is much simpler. In B2B market the stakes are high, material is purchased, but a lot of things are kept in mind simultaneously to make the product. The product is complex majority of the time. Businesses unlike consumers stern on being provided by product that meets a strict quality. Another aspect is the level of personal selling present in B2B markets.
Thompson, E. R., Prendergast, G. P. (2015). The influence of trait affect and the five-factor personality model on impulse buying.Personality and Individual Differences,76, 216-221.
Liu, Y., Foscht, T., Eisingerich, A. B., Tsai, H. T. (2018). Strategic management of product and brand extensions Extending corporate brands in B2B vs. B2C markets.Industrial Marketing Management,71, 147-159.
BUSINESS AND MANAGEMENT
Running head BUSINESS AND MANAGEMENT
MTXdlyMopIjz4TloPhehe5hghh/hhh/h,he he5 h(3b5 hHap5hb hOIhhHaphH-HnMTGHIJKLMNgd/gdegd/gdHapagdHapagdy BFGHNOYZ wqwqmh h0Jjh50JUhbapjhbapUh8hrAhrA h5hhDh(3bhh/he)he)he)6he)he)h/h/6h/h/ hZ5hzihzi5 hHap5hHaphHaphghghh/he)NOZhhdagd8agdxgdb gd00gde)agdgd/ QRSTagd8 hh hh 3KQSTh8hrAhbaphhHap h0J hb 0J9 0P1hp5/ s666666666vvvvvvvvv6666666666666666666666666666666666666666666666666666666hH6666666666666666666666666666666666666666666666666666666666666666662 0@Pp2( 0@Pp 0@Pp 0@Pp 0@Pp 0@Pp 0@Pp8XV 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@ 0@_HmH nH sH tH NN5NormaldCJ_HaJmH sH tH XAX5 Heading 1@a5KH JaJ BB5 Heading 2@a aJJJ5 Heading 3@5JaJBB5 Heading 4@
56aJ@@5 Heading 5@
6aJDADDefault Paragraph FontRiR0Table Normal4 l4a(k (
.)@.5Page Number6U 65 HyperlinkBphC25Body Text Indent2BB25 Body TextxH@RH5Title@aKHJaJ PKContent_Types.xmlN0EH-J@ULTB l,3rJBG7OVa(7IRpgLr85vuQ8CX6NJCFB..YTe55 _g -Yl6NPK6_rels/.relsj0Qv/C/(hO Chvxp_P1H0ORBdJE4bq_6LR70O,En7Lib/SePKkytheme/theme/themeManager.xmlM @w7c(EbCA7K
e.,H,lxIsQ ,jGW)E 8PKRtheme/theme/theme1.xmlYF/lMBql4F3 iCCiH/6MwFcd
xuv 0F,FKsO3wvfSVbsyX p5veuw 1z@ l,ib
theme/theme/_rels/themeManager.xml.relsPK xml version1.0 encodingUTF-8 standaloneyes
aclrMap xmlnsahttp//schemas.openxmlformats.org/drawingml/2006/main bg1lt1 tx1dk1 bg2lt2 tx2dk2 accent1accent1 accent2accent2 accent3accent3 accent4accent4 accent5accent5 accent6accent6 hlinkhlink folHlinkfolHlink/T 555ccfTNT
f8@0( B S T V
RU3S T FF
o(hH. hH. pLpLhH. @@hH. hH. LLhH. hH. hH. PLPLhH.vAyx7c2 DT9N80y )jb E, 2(e)8)),,g2s6O7t95lxOIAGberADGfGH7II3NN,OOAPASuTVrVYW
@T T T T T@UnknownGAx Times New Roman5Symbol3.Cx ArialABCambria Mathqh,rG,rk24
3P P)2xxFull Title of Your Paper HereDeGeorgeRameesha khattakOh0 ,8 Xdp
Full Title of Your Paper HereDeGeorgeNormalRameesha khattak21Microsoft Office Word@B2@@o@j.,D.,Lhp
Full Title of Your Paper HereTitle(XhZOTERO_PREF_1ZOTERO_PREF_2data data-version3 zotero-version5.0.34session idQJqZvlMt/style idhttp//www.zotero.org/styles/apa localeen-US hasBibliography1 bibliographyStyleHasBeenSet0/prefspref namefieldType valueField/pref nameautomaticJournPalAbbreviations valuetrue/pref namenoteType value0//prefs/data
(),./012347Root Entry Fcv91TableWordDocumentSummaryInformation(DocumentSummaryInformation8-CompObjr F Microsoft Word 97-2003 Document MSWordDocWord.Document.89q
Useful LinksFree Essays About Blog
If you have any queries please write to us
Join our mailing list
@ All Rights Reserved 2023 email@example.com