Identify and describe the various temporal factors that might affect a consumer and his or her buying process

What will be an ideal response?

Time is one of consumers' most precious resources. Consumers have two broad areas that are of concern. First is economic time. Time can be considered an economic variable; it is a resource that must be divided among activities. Consumers try to maximize satisfaction by allocating time to have the appropriate combination of tasks. An individual's priorities determine his or her time style. Many consumers today have time poverty. Second, the psychological dimension of time is an important factor in queuing theory (the mathematical study of waiting lines). A consumer's experience of waiting can radically alter his or her perceptions of service quality.