One "official" definition of consumer behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
The starting point for most behavior is the recognition of an unsatisfied need.It is no different for consumer behavior, since the purchase and use of products and services are one means of satisfying needs. A widely adopted classification of needs was developed some years ago by A. H. Maslow. Maslow hypothesized five classes of needs. In the order of their importance.…
- Consumer Behavior
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How Not to Experience “Nothing Special” Again (Report in Macroeconomics)
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