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Personal : I
Description
Diploma Personal : I Mind Map on Personal : I, created by Musfirah Binte M on 29/05/2016.
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consumer behaviour
3003
personal : i
diploma
Mind Map by
Musfirah Binte M
, updated more than 1 year ago
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Created by
Musfirah Binte M
over 8 years ago
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Resource summary
Personal : I
Age & Life cycle
Psychological life-cycle stages
Definition: Passages and transformation in life's journey.
5 distinct stages
1. Youth Segment
Less than 21 years old
Example: Students in eduation
2. Getting started
18 - 35 years old
First car, credit card, loan, marriage, child, degree, housing, insurance
Example: New job holders earning some salary
3. Builders
35 - 55 years old
Peak earning years
Example: After many job promotions earning high salary.
4. Accummulators
55 - 62 years old
Worry about saving for retirement and wise investment
Example: Earn, spend less and keep savings in bank. Invest in bonds.
5. Preservers
More than 62 years old
Maximize retirement income
Example: Retired with CPF, dividents from investment earning.
Things affecting consumption
Family life-cycle & number, age & gender of people in household
Example : Smaller family have more spending power over larger families.
Occupation and Economic Situtation
Product Choice
Affected by income & savings
1. Blue collar worker
Regular Grocery store - Giant & FairPrice
Sport Brands - Nike, Adidas, Puma & Decathlon
Clothing Brands - Uniqlo, Under Amour,
2. Company CEO's purchases
Cold Storage, High-End Hotel Restaurants,
3. Lawyers purchases
Cold Storage, High-End Hotel Restaurants,
4. Teachers purchases
Mall retail & Mall Restaurants
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