Advantages And Disadvantages Of E-Procurement

Psychological Factors. A buyer’s choices are also influenced by four psychological factors, i.e. motivation, perception, learning, and beliefs and attitudes. A consumer is an individual who has different kind of needs.

A customer’s buying behaviour is also influenced by social factors, such as the groups to which the customer belongs and social status.

The added benefit of being able to take orders online for many of their account customers will provide a more streamlined process overall and will also aid in cost cutting internally.

2.Social Factors: A consumer's behaviour is influenced by such social factors as reference groups, family and social roles and statuses. A person's reference group consists of all the groups that have a direct or indirect influence on the person's attitudes or behaviour (Kotler, 2000, pp.163). Reference Groups create pressures for conformity that affect actual product and brand choices. The MiZone and Aqua Blue range of bottled water is aimed and is consumed by people who do considerable exercise and are concerned about their fitness and well being. Consumers in this group would notice that their peers consumed MiZone or Aqua Blue and would then purchase it themselves.

People are directly affected by their cultural surroundings when making purchases. Like peer groups, employers, clients, colleagues, boyfriends, girlfriends, mothers, fathers, etc. Consciously, the purchaser has these people in mind when buying certain

Through e-Procurement system we can improve redundancies in the business process and operations, gain in productivity by upgrading procurement processes. Cost savings by reducing processing time, rationalization of a large number of BAL suppliers and maintaining relationship with Key Suppliers.

Social factors refer to the changes in the lifestyle, behavior, attitudes and tastes of different societies. Social factors may affect the two businesses in the following ways:

Product Assortment and Services Decision- Retailers must decide on three major product variables; product assortment, services mix and store atmosphere. Sears had a wide range of different store brand products and quality national products. There were products for all types of people!

Finance affects consumers’ decisions when you want to purchase a product but the good is more than the amount of cash you have available. Then you’ll have to take a loan to purchase the item. The interest rate, how easily the money can be borrowed, level of savings and the cost of the money loaned will decide whether or not a consumer will purchase the good. Examples of items when a person might have to organise finance are cars and houses.

Customers who are more technically inclined and like to shop online. The video also touches on low-income, that customers that can’t really afford high end and first to market trends. • Which of the four sets of factors affecting consumer behavior do you believe most strongly affects consumers’ purchase decisions from Goodwill? The four sets of factors that affect consumer behavior are cultural, social, personal, and psychological.

In an article called Cultural Factor Highly Influences On Consumers & Their Buying Behavior – In Indian Context, the basic characteristics of culture are described:

Social factors refer in the trend of customer which keeps changing their trend, and what the trend of their purchase. For example nowadays due to people’s work, they are really busy so they often decide to buy already cooked food.

and cultural aspects of life as a consumer. The social environment includes the people and

There are four main factors that influence the consumer’s behavior; cultural, social, personal, and physiological. These factors determine what the consumer will buy, why they buy an item, and if they will be a return customer.

Consumer behaviour is influenced by demographics and psychographics factors. Within the demographics factors are age, sex, education level, income level, marital status, occupation, religion, while psychographics factors include individual’s motivation, attitude and beliefs among others. According to Macinnis and