Historically, economists used financial indicators such as household income, GDP, or consumer confidence as measures of welfare. However, it has become increasingly evident that there are a large number of people who are financially well-off but are still not happy with their situation in life. This question of welfare must be rethought and aimed towards measuring the perceived quality of one’s situation in life (Joshua, 2011). This study uses this question as a foundation to access urban household welfare. It focuses on the rented households in order to determine the impact which is contributed to his welfare.
Primary group is in contact with consumer on regular and in informal way such as family, friends, neighbors, and coworkers. Secondary group is not in contact with consumer on regular basis and they are more formal such as professional, trade union groups etc. The reference group has very strong influence on consumer. ii. Family Family has major role in influencing the consumer’s decision.
[Ref 5] Location matters for traditional entrepreneurship and their shareholders due to many impact factors. Depending on different countries, proximity to markets, raw materials, wage rates, quantity and quality of the labor supply, general business climate, tax rates, internet access, total operating costs, barriers on political, business, cultural, and international trade agreements are different. Even though in the same country, the different city presents various population trends, competition, clustering, compatibility with the community, local laws and regulations, transportation networks, police and fire protection, the cost of utilities and public services, quality of life that would extremely affect the expansion and growth of entrepreneurs. We can conclude that the geographical location extremely affects the traditional industry. In
People’s lifestyles and buying considerations or decisions widely differ according to their profession. For example, a doctor’s purchasing power can be effortlessly differentiated from that of a teacher. Therefore, marketing managers have to design different strategies to suit the buying motives of all the different occupational groups or economic statuses. Also, in today’s society people are extremely concerned about societal status and their personal image. The status of an individual in a society is projected through the various products they purchase, whether it is their clothing, their cars, or any other personal
Different generations interested in different things as millennial interested in discounts, WiFi, online booking, etc. basing on age, UAL children ticket is half of the adult’s. Economic environment impacts UAL performance. It involves factors that impact both the purchasing power of customers and their spending patterns; as income
Much of the attention are placed to the males within a family, and according o salaff’s argument of the centripetal tendency among the Chinese family, when a household consists a number of children and with low income, the budget is not enough to sustain education for the children, daughters in the family whom reached puberty would be immediately sent to factories as workers. All of their wages would be for the family’s usage , mainly to support education for the sons. Due to the idea of centripetal tendency, family members are obliged to contribute resources to the family. Working daughters were still a common phenomenon in Hong Kong in its early 70s. The heavy influence of patriarchal belief along with the centripetal tendency, caused a vicious cycle of gender discrimination.
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, the stages through which families might pass as they mature over time. Life stage change usually result from demographics and life changing events such as marriage, having children, purchasing a home, divorce, children going to college, changes in personnel income and retirement. As their life stages change, do their behaviors and purchasing preferences changes too. A consumer does not buy the same products or services at 20 or 70 years.
It is really important for companies to find out customer’s decision making process and identify the conditions, which customers apply while making decision (Cravens and piercy, 2003). Marketers are highly concerned to know how brand names influence the customer purchase decision. Why customers purchase a particular brand also implies how customers decide what to buy. There are many research based report on similar topic by different researchers like Assistant Professor Mohammed ALAMGI, University of Chittagong, Bangladesh “INFLUENCE OF BRAND NAME ON CONSUMER DECISION MAKING PROCESS-
Their key interests include getting product ideas or meeting friends. They also view shopping from emerging retail formats as a means of diversion to alleviate depression or break the monotony of daily routine. In addition to this, they also go shopping to have fun or just browse through the outlets. The study by Satish and Raju (2010) throws light on the major Indian retailers that highly contribute to the retail sector in India. Pantaloon, Tata Group, RPG Group, Reliance Group and A V Birla group are some of the major Indian retailers.
POST PURCHASE BEHAVIOR It is the behavior of a person after purchasing the product how he use it, consume it. FACTORS INFLUENCING BUYING OF WILDCRAFT BAG CULTURAL FACTORS The company target the Indian culture, subculture, social class. Social class plays a very important role in individuals decision making wild craft is a bag which target the Indian youth and there cultural values the culture of people from different country make different buying decision according to their cultural groups. Advertisement also are design according to the different culture, subculture and language. SOCIAL FACTORS Social factors are also very important for a marketer because the decision of buying largely depends on the social factors such as reference groups, family, and social role and statuses affect buying behavior of individual.