Consumer Behavior: Chapter 1 Questions and Answers Grade A+ 2023

Consumer Behavior: Chapter 1 Questions and Answers
Grade A+ 2023
Consumer Behavior - -Set of value- seeking activities that take place as people go about
addressing their real needs

-Want - -A specific desire representing about a way a consumer may go recognized need
addressing a

-Exchange - -Acting out of the decision to give something up in return for something perceived
to be of greater value

-Costs - -Negative results of consumption experiences

-Benefits - -Positive results of consumption experiences

-Consumption - -Process by which consumers use and transform goods, services, or ideas into
value

-Consumer Behavior as a Field of Study - -Study of consumers as they go the about the
consumption process; science of studying how consumers seek value in an effort to address real
needs

-Economics - -Study of production and consumption

-Psychology - -Study of human reactions to their environment

-social psychology - -study that focuses on the thoughts, feelings, and behaviors that people have
as they interact with other people

-cognitive psychology - -study of the intricacies of mental reactions involved in information
processing

-neuroscience - -the study of the central nervous system including brain mechanisms associated
with emotion

-marketing - -multitude of value- producing seller activities that facilitate exchanges between
buyers and sellers, including production, pricing, promotion, distribution, and retailing

-sociology - -the study of groups of people within a society, with relevance for consumer deal of
behavior because a great consumption takes place within group settings or is affected by group
behavior