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CONTENTS
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Acknowledgement Preface Executive Summary Objective of the project Research Methodology. Literature Review Company Profile Trade Profile Marketing Plan Management Hierarchy Comparison with other business Govt. policies related to business About the topic (Market Potential) Findings And Analysis Limitation Summary/conclusion Suggestions/Recommendations Bibliography Annexure
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Word of Thanks Questionnaire
ACKNOWLEDGEMENT
A work is never a work of an individual. We owe a sense of gratitude to the intelligence and co-operation of those people who had been so easy to let us understand what we needed from time to time for
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iii.
PERSONAL FACTORS: A buyer decision is also influenced by his or personal characteristics, notably the buyers age, lifestyle, occupation, economic circumstances etc.
PSYCHOLOGICAL FACTORS: a person buying choice is also influenced by four major psychological factors such as motivation, perception, learning belief and attitudes.
(B) BUYING DECISION PROCESS It includes buying roles, types of buying and steps in buying process. I. BUYING ROLE
The buying role could be classified into four parts. These are initiator, influencer, decider and buyer. II. TYPES OF BUYING BEHAVIOR Consumer decision taking varies with the type of buying decision. There are four types buying behavior such as Complex buying behavior, Habitual buying behavior, Variety seeking buying behavior. III. STAGES IN BUYING DECISION PROCESS Here are five stages in buying decision process namely problem recognition search, evaluation of alternatives purchase decision and past purchase behavior. NEED RECOGNITION The buying process starts with the buyer’s recognition of a problem of need. The buyer senses a difference between his actual state and desired state. INFORMATION SEARCH There are different sources from where a consumer can gather information like personal sources commercial sources, experimental sources. EVALUATION OF ALTERNATIVES After gathering information about different products the customer
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5. Multiple buying influences. You don’t usually consult with a team of experts when you want to buy a fast-food hamburger, a soda, bottle of shampoo, or a pair of shoes, do you? In most consumer selling situations, the purchase decision is made by an individual. But a business purchase is usually a team effort, with many players involved.
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The fourth stage consists of individual and environmental influences that affect all five stages of the decision process. Individual characteristics include motives, values, lifestyle, and personality; the social influences are culture, reference groups, and family. Situational influences, such as a consumer’s financial condition, also influence the decision process. (Engel, 1995)
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