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Consumers

There is a notable difference in purchasing patterns between consumers and corporate customers.

Below is a tool you can use as a way to get insight into the mind of a consumer.

Four principal factors

Generally, consumers are less rational than corporate customers when deciding which product to buy.

Four principal factors influence a consumer´s choice of product/service:

1. Cultural factors - subculture, social class, religion, nationality etc.
2. Social factors - family, role, status, etc.
3. Personal factors - gender, age, lifestyle, financial situation, personality, image, etc.
4. Psychological factors - need engendered motivation, "voices" from one´s sub-consciousness, or satisfaction optimisation, etc.

Consumer segmentation

For a new company it is rarely possible to reach all consumers at one time. You have to choose special groups of consumers. It is called segmentation.
You can seek to segment or categorise by various criteria:

• Geography - city, country, district, street
• Education – skilled, unskilled
• Occupation - doctors, lorry drivers, teachers
• Age – children, youngsters, middle age, retired people
• Sex – men or women
• Leased or owner-occupied housing

Hard work beats talent when talent does not work hard.
- Tim Notke - no information about him