Life course perspective is used in social science to help understand human development. It takes into account how a person grows and changes through life experiences. It looks at historical events as well as cultural changes that affect a person’ evolution over their life (The life course perspective, 2003-2018). Life course perspective states that there is complex interaction of social and environmental factors mixed with biological, behavioral, and physiological issues that define the course of a person’s life. Each stage in life exerts influences on the next stage, social, economic, and physical environments and they also have influences through a person’s life course.
How would these differences influence the process in which value are assigned to competing offers which are being compared? The motivation behind purchasing decisions made by businesses and consumers differ significantly. When organization purchase equipment, they plan to utilize them in ways that will help the business attain the set goals and objectives. The purchased items are strategically sought after as they play a major part in helping the organization generate value in ways that will help cover the costs incurred and increase the overall profit. On the other hand, the consumers buy products depending on their need and wants.
Factors effecting buying behavior Brewster, Sparrow and Vernon (2007) explain about Factors that affect buying behavior and vary from person to person, age to age, and area to area. Every society follows its own norms, culture and values. At different stages of life our preferences change because of our age, needs, lifestyle, earning and psychological factors. These factors can be Internal (memory and way of thinking) or External (media, word of mouth, publicity and feedback). There are several factors, which pressure the buying
A main component of this is a change in behavior of the consumer resulting from changes in styles and fashions. With the social factor, a business can resolve the socio-economic environment of its market via elements like customer demographics, cultural limitations, lifestyle attitude, and education .These factors help Alphabet Games examine consumer needs and what pushes them to make buys. Among the things that should be studied are country demographics, population growth rates, age distribution, positions toward work, way of life changes, training and ecological and health
Age, gender and income frequently use among the demographic values. According to Armstrong and Kotler (as cited in Nynne Larsen 2010), changes of age determine the buyers needs and wants. There are companies use age and life-cycle segmentation to determine the marketing approach. Kotler and Keller (2009) stated that male and female have different view towards a product and gender segmentation is used to differentiate their needs and wants. Income segmentation separates the market according to their income and it is used in automobiles, clothing, cosmetics, financial services, travel and
Post-Purchase Behavior: This is where consumers feedback on the products if it has met the end-user expectation. Has the pricing paid was valued for money and if the products features has been well-utilized to meet what was promised to users. For consumer that was dissatisfied with the product, she/he may complain to their relatives and friends about the purchases which may impact on the company. Whereas, company could allow a 7 days exchange policies and trade in services. Two Social Influences on Buying Behaviour Sociocultural environment that influences buying behavior which include on family, informal sources, noncommercial sources, social class, subculture and culture.
There are many sorts of advantages and they change with both the individual and the association. Financial analysts ordinarily order them into two gatherings. One gathering is open in nature on the grounds that both the contributor and different people advantage. For instance, while a giver may think about the arrangement of the philanthropic's yield, this same yield may all the while advantage different people. The second gathering is private in nature.