Types of data that can be collected

When looking at consumer markets, it can be observed that various factors influence the way people purchase goods and services. These factors can be classified as cultural factors, personal characteristics and psychological variables. For example, people tend to belong to certain social groupings and are influenced by the motivations and values of the group to which they belong. Social status, family and friends all influence people's buying decisions. Culture influences what people do and what they buy. Personal factors include age, income, job, lifestyle, personality and self-concept. Changes in any of these factors may exert an influence on purchasing behaviour. Income and lifestyle, for instance, affect both the buying process and the eventual choice of goods people make. Finally, psychological factors influence individual buying behaviour and how people respond to promotional methods. Psychological factors include perception, motivation, attitudes and learning.

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