1. Entrepreneurship William Wresch, Ph.D. wresch@unizwa.edu.om
Week 6 – Consumer Information

2. PESTLE
PESTLE is an acronym (series of initial letters) for important areas of change:
Political
Economic
Social
Technological
Legal
Environmental

3. Consumer Behavior – they are impacted by change too
Technological Changes
Political Changes
Legal Changes
Consumer
Social Changes
Economic Changes
Environmental Changes

4. Consumer Behavior – People respond differently
Motivation
Attitudes
Knowledge
Consumer
Life Style
Perceptions
Personality

5. Consumer Behavior - Attitude
What is this person’s general attitude toward your product or service? What attitudes might a customer have to an ice cream shop? How would you know which consumers might be most enthusiastic about your ice cream shop plan?
Personality Area
Range
Your Response
Attitude
Indifferent
Enthusiastic
Hostile

6. Consumer Behavior - Knowledge
How much does a consumer know about your product or service? What do you do if it seems no one knows much about the business you want to start? For example, if you were the first person to sell authentic food from a rural village.
Personality Area
Range
Your Response
Knowledge
little
some
much

7. Consumer Behavior - Personality
What is the consumer’s general personality? Shy people might be hard to talk to. They might also be hard to sell to. How might you sell designer clothing to a shy person?
Personality Area
Range
Your Response
Personality
shy
moderate
outgoing

8. Consumer Behavior - Motivation
How motivated to act is the consumer? What do you do if the person you speak with just does not seem interested in your product or service?
Personality Area
Range
Your Response
Motivation
little
some
much

9. Consumer Behavior – life style
What is the general life style of the consumer? What kind of life style are you selling to – conservative? Experimental? How might their car tell you about their life style?
Personality Area
Range
Your Response
Life Style
conservative
average
Experimental (avant garde)

10. Consumer Behavior - Perception
Does the consumer already have perceptions about your product or about your industry? What do you do if many people misunderstand your product? For example, you want to sell Italian ice cream, but they think Italian ice cream is poor quality.
Personality Area
Range
Your Response
Perception (beliefs that may or may not be true)
Supportive
Neutral
Hostile

11. Your Business Plan Now Take out a piece of paper
Write 2 things you want to know about your customers and their knowledge, motivation, lifestyle, perceptions, or personality.