ECONOMICS

Detailed explanation-1: -Situational Factors: These factors include the lifestyle of a consumer, use of the product or service, and the occasion for making the purchase. Personal Factors: These factors include the age of a consumer, location, and purchasing power.

Detailed explanation-2: -What is Right to Information (cont.) Gives consumers the responsibility to read all information on the label carefully, read all fine print before signing any documents or contracts, compare products by reading magazines and newspapers, and consult friends using the same products.

Detailed explanation-3: -Perception is the process of selecting, organizing, and interpreting information. This process affects our communication because we respond to stimuli differently, whether they are objects or persons, based on how we perceive them.

Detailed explanation-4: -Post-Purchase Evaluation. This is the last stage and is most often ignored by marketers. After buying the product, customers compare products with their expectations. There can be two outcomes: Either satisfaction or dissatisfaction.