Definition of Consumer Behavior: The study of processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and wants.
Key Components:
Select
Decision making
Purchase
Usage
Disposal
Experience
Thoughts
Feelings
Needs/Desires
Who is a Consumer?
Definition:
A consumer is an individual who consumes goods or services. (Source: Merriam-Webster Dictionary)
Self-Reflection: Are you consumers now? This prompts the audience to consider their own role as consumers.
Understanding Consumer Behavior
Stages of Consumer Behavior Process:
Pre-Purchase: The phase where needs are identified, information is sought, and alternatives are evaluated.
Purchase: The moment the decision is made to buy, involving a transaction.
Post-Purchase: Reflecting on the purchase experience, including satisfaction and disposal of the product.