Consumer behavior is the study of people's decisions and the factors that influence those decisions.

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22-07-2022
Business

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Consumer behavior is the study of people's decisions and the factors that influence those decisions.

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MubeenaD MubeenaD · Answer 1 · 2022-08-02T09:18:39+02:00

Consumer behavior is the study of people's decisions and the factors that influence those decisions are Psychological Factors, Personal Factors and Social Factors.

Consumer behaviour is the study of how people choose what they purchase, desire, need, or do in relation to a good, service, or business. Understanding consumer behaviour is essential to predicting how prospective customers will react to a new good or service. Additionally, it aids businesses in locating untapped prospects. Numerous problems affecting consumers are specific to their way of thinking. A person's attitude, their capacity for learning or understanding information, and how they perceive a need or circumstance are all examples of psychological aspects.

Personal qualities are traits that are unique to a person and may not apply to other members of the same group. Social traits are the third element that has a substantial impact on customer behaviour. Social influences can range widely and include a person's family, friends, coworkers, schoolmates, or any group of individuals they are affiliated with.

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