The paper "External Factors Influencing Customer’ s Decisions" is a great example of marketing coursework. The global market consists of customers who have different perceptions and views about the products and services presented to them by entrepreneurs, and manufacturers. Their perceptions vary with diversities in cultural backgrounds, social classes, husband-wife relationships, opinion, and policymakers. There are several external factors that direct customers or consumers of products in the market. The document has outlined how perceptions among customers vary across various people, age groups, ethnic groups, and it has also analyzed the various external factors that affect perceptions of individuals when purchasing products from retailers, suppliers, entrepreneurs or business merchants.
The description relates is strongly embodied in-class notes, various chapters of books, journal articles and some reliable sources as outlined in the government reports. Introduction The market in any region is in an abundance of many services and products, all of which are availed to seal a gap in customer’ s demands (Bearden & Etzel, 1982). Availability of all products is done after evaluating the market trends, product retailers, and the rate at which the commodity is purchased.
The numbers of purchases are compared to time, in order to identify if the product items are fast-moving, slow-moving, or non-moving. The consumer’ s demand and requirements will always be considered to be the factor that directs the type of products that are quite often availed in the market (Leo, Bennet & Hartel, 2005). Because of these perceptions, and fluctuations among customer demands, suppliers, retailers, manufactures are tasked to give items and products that meet customer interests. Customers live in different regions, environments, social setups, and in governments which have laid down several and varying policies.
As such, every customer has different reasons and assumptions when purchasing or making decisions before making purchasing products from markets (Nayeem, 2012). Their choices and decisions also vary across different products, and they also tend to be rooted in their previous experiences and what their families are oriented to. The essay will significantly look at the various external factors that affect the customer’ s decision-making process, and how they affect the volatilities and stability of the markets. The descriptions and analysis of customer’ s decision are best conducted by relating the market fluctuations with the future demands (Bearden & Etzel, 1982).
This means that different regional markets and global markets have various customers’ perceptions, whose origins are from different cultural backgrounds, families, social classes, and governmental setups (Leo, Bennet & Hartel, 2005). Brief description of the product A mattress is a common name that is currently understood and can be described differently by people. A common definition outlines that it is a large and suitable pad that has a capacity to support the reclining body, and is used by throwing it on the house floor or by placing it on a bed.
Mattresses were first used in the Arabic world in the form of cushions (Haex, 2005). The idea was taken to Europe by crusaders who had visited the Arabic world. The main aim of manufacturing mattresses is the same, but the demand and wants financial abilities among people have forced the market to look different with different sizes of mattresses, and varying qualities of mattress making materials (Haex, 2005). A number of sales vary with social classes because most societies consist of rich, poor, and standard people who have different financial capabilities (Bearden & Etzel, 1982).
Poor people look for cheap mattresses that match their financial abilities, and therefore, such demands must be met by reducing sizes, densities, and using sustainable materials during production (Bearden & Etzel, 1982). For sustainability purposes, manufacturers are trying much to match their time, available materials with simple production inventory systems to ensure that their products are sold to immediate buyers.
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