Consumer behaviour

Question 1

Consumer behaviour

Answer 1

Consumer behaviour looks at why, how, where and when consumers choose to purchase or not purchase a good or service, and draws on ideas from psychology, anthropology and economics.

Question 2

traditional views

Answer 2

The traditional view is that consumers are rational, with good information and ordered priorities. However, more recent studies indicate that this is not always the case.

Question 3

Marginal utility

Answer 3

Marginal utility is a concept that some believe has a great influence on consumer behaviour. Marginal utility is a term used to describe the extra satisfaction gained from consuming additional quantities of a good or service over a short period of time.

Question 4

economic influences affecting what consumers purchase

Answer 4

There are also other economic influences affecting what consumers purchase such as budget constraints, internal factors like personality type, and external factors like peer group feedback, incentives and technology.

Question 5

Consumer behavior incentives

Answer 5

Consumer behavior is also affected by positive and negative, economic and non-economic incentives.