Personal factors effecting watch industry:
Occupation-The occupation of an individual plays a significant role in influencing his/her buying decision. An individual’s job and the nature of such job have a direct influence on the products and brands they pick for him/her. As if a person is an employee or a business man according to its occupation his/her buying behavior will be influenced that does he/she need to buy a watch or not.
Economic Condition- Earnings per month is directly proportional to the buying tendency of a person. How much an individual brings home decides how much he spends and on which products? As if a person is of high income level he might definitely go for high end watch so the economic condition of the person directly …show more content…
Every individual has his/her own particular personality which reflects in his/her buying behavior. Example a Fashion freak would always look for fashion accessories like watches clothes etc which at last affect the watch industry. There are two internal influences which affect the consumer buying behviour:
(A) Lifestyle:
To explain consumer behaviour it is the most common way as the individual lifestyle plays a vital role in explaining the wants of consumer as we are talking about the watch industry which is mostly targeted upon high income consumer in order to earn more. Lifestyle further segments consumer based on three things: opinion, attitudes and activities.
This theory is all about explaining how attitude changes based on level of involvement in purchase. As the consumer is ready to process it taking in consideration the level of involvement and motivation then it follow one of two routes:
The central route: If a consumer is highly involved in the product which he/she wants to buy then he/she will give his effort to understand the message in marketing. Consumer will look for cues in the message that to the product and …show more content…
Titan has become a brand name in the Indian market which reflects great quality and feasible cost watches.
Keeping a hawk’s eye over the behavioral factors of the buyer facilitates manufacturers to focus their attention span over the changes required to be introduced in their current products based upon the choices of the customers and also project the innovations and ideas which the product-under-process will be required to accommodate.
Market for a product develops only when the product is capable to satisfy the needs as expected out of it from the buyer. A product in itself may be one with good characteristics but until such characteristics match with the requirement of the customer, the product will not prove to be very successful in the market. The product should be such which reflects the buyer’s expectations.
As studied earlier, we have analyzed that the buying decision is affected by multiple factors around the buyer which play a very significant role in molding his/her choices. When a person spends money to make a purchase, he does so with the belief that the product will be able to meet his expectations- which could be his need for the product or the reflection of one’s class or
Occupation-The occupation of an individual plays a significant role in influencing his/her buying decision. An individual’s job and the nature of such job have a direct influence on the products and brands they pick for him/her. As if a person is an employee or a business man according to its occupation his/her buying behavior will be influenced that does he/she need to buy a watch or not.
Economic Condition- Earnings per month is directly proportional to the buying tendency of a person. How much an individual brings home decides how much he spends and on which products? As if a person is of high income level he might definitely go for high end watch so the economic condition of the person directly …show more content…
Every individual has his/her own particular personality which reflects in his/her buying behavior. Example a Fashion freak would always look for fashion accessories like watches clothes etc which at last affect the watch industry. There are two internal influences which affect the consumer buying behviour:
(A) Lifestyle:
To explain consumer behaviour it is the most common way as the individual lifestyle plays a vital role in explaining the wants of consumer as we are talking about the watch industry which is mostly targeted upon high income consumer in order to earn more. Lifestyle further segments consumer based on three things: opinion, attitudes and activities.
This theory is all about explaining how attitude changes based on level of involvement in purchase. As the consumer is ready to process it taking in consideration the level of involvement and motivation then it follow one of two routes:
The central route: If a consumer is highly involved in the product which he/she wants to buy then he/she will give his effort to understand the message in marketing. Consumer will look for cues in the message that to the product and …show more content…
Titan has become a brand name in the Indian market which reflects great quality and feasible cost watches.
Keeping a hawk’s eye over the behavioral factors of the buyer facilitates manufacturers to focus their attention span over the changes required to be introduced in their current products based upon the choices of the customers and also project the innovations and ideas which the product-under-process will be required to accommodate.
Market for a product develops only when the product is capable to satisfy the needs as expected out of it from the buyer. A product in itself may be one with good characteristics but until such characteristics match with the requirement of the customer, the product will not prove to be very successful in the market. The product should be such which reflects the buyer’s expectations.
As studied earlier, we have analyzed that the buying decision is affected by multiple factors around the buyer which play a very significant role in molding his/her choices. When a person spends money to make a purchase, he does so with the belief that the product will be able to meet his expectations- which could be his need for the product or the reflection of one’s class or