Marketing

Definition: A Nominal Scale is a scale in which the numbers serve only as tags or labels to identify or classify the objects. In other words, the nominal scale of measurement deals only with non-numeric variables and there is no relative ordering of the categories, i.e. the numeric value assigned to each category is erratic. The nominal scale possesses only the description … [Read more...] about Nominal Scale

Definition: The Scales of Measurement are used to quantify or categorize the variables and before any research one must identify the type of the variable under study. As different methods are used to measure different variables. The numbers or set of numbers assigned to the object has certain specific qualities that interest the researcher. These qualities are magnitude, … [Read more...] about Scales of Measurement

Definition: The Levels of Measurement define the relationship among the values assigned to the characteristics of the object. In other words, what properties of an object the scale is measuring or not measuring is denoted by the levels of measurement. All the scales used in research can be explained in terms of four basic characteristics; Description, Order, Distance, and … [Read more...] about Levels of Measurement

Definition: Scaling is the procedure of measuring and assigning the objects to the numbers according to the specified rules. In other words, the process of locating the measured objects on the continuum, a continuous sequence of numbers to which the objects are assigned is called as scaling. Scaling is considered as the extension of measurement. What is Measurement? The … [Read more...] about “Scaling” in Research

Definition: The Economic Factors are the factors that talk about the level of sales in the market and the financial position of the consumer, i.e. how much an individual spends on the purchase of goods and services that contribute to the overall sales of the company. The following are the main economic factors that greatly influence the consumer buying behavior: … [Read more...] about Economic Factors Influencing Consumer Behavior

Definition: The Personal Factors are the individual factors to the consumers that strongly influences their buying behaviors. These factors vary from person to person that results in a different set of perceptions, attitudes and behavior towards certain goods and services. Some of the important personal factors are: Age: The consumer buying behavior is greatly … [Read more...] about Personal Factors Influencing Consumer Behavior

Definition: The Cultural Factors are the factors that an individual learns at a very early stage of life due to socialization within the family and other key institutions, such as the set of values, preferences, behavior patterns, and perceptions are learned as the individual grows. Some of the important cultural factors are: Culture: The culture refers to the … [Read more...] about Cultural Factors Influencing Consumer Behavior

Definition: The Social Factors are the factors that are prevalent in the society where a consumer live in.  The society is composed of several individuals that have different preferences and behaviors. These varied behaviors influence the personal preferences of the other set of individuals as they tend to perform those activities which are acceptable to the society. The … [Read more...] about Social Factors Influencing Consumer Behavior

Definition: The Psychological Factors are the factors that talk about the psychology of an individual that drive his actions to seek satisfaction. Some of the important Psychological Factors are: Motivation: The level of motivation influences the buying behavior of the consumers. It is very well explained by Maslow through his need hierarchy theory comprising of basic … [Read more...] about Psychological Factors Influencing Consumer Behavior

Definition: The Consumer Behavior is the study of how an individual decides to purchase a particular product over the other and what are the underlying factors that mold such behavior. Factors Influencing Consumer Behavior The marketers try to understand the actions of the consumers in the marketplace and the underlying motives for such actions. These motives are the factors … [Read more...] about Factors Influencing Consumer Behavior