Consumer Behavior

What is Consumer Behavior?

Consumer behavior is the study of how individuals make decisions about purchasing goods and services. It examines the psychological, social, and cultural factors that influence buying habits and preferences. Understanding consumer behavior helps businesses develop effective marketing strategies, improve product offerings, and predict market trends.

Factors Influencing Consumer Behavior

• Psychological Factors: Personal motivations, perceptions, and attitudes.
• Social Factors: Influence from family, friends, and social groups.
• Cultural Factors: Beliefs, values, and customs that shape buying preferences.

Related Terms and Concepts

Market research, buyer persona, decision-making process, customer journey.