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12/4/0611:42 Rampage A1M MO OD DU UL LE Each NG Now a g TF e or Le Rear n pr in g ta AP PP PL L II C CA AT T II O ON N038325_15_AMA_pA1A20.image courtesy of The Advertising Archives P LY I N GSOCIALPSYCHOLOGYTOConsumer
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Consumer behavior refers to the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption-related items.
Any company or organization that wants to understand their target market and develop effective marketing strategies may be required to study consumer behavior.
Consumer behavior can be studied through surveys, focus groups, interviews, observation, and data analysis.
The purpose of studying consumer behavior is to understand why consumers make the decisions they do, in order to influence their buying behavior.
Information such as demographics, motivations, preferences, and purchasing habits of consumers may be reported.
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