Erik Madsen

Understanding Consumer Behavior Erik Madsen

The study of groups and individuals as well as the activities related to purchase, use and disposal of goods and services is referred to as consumer behavior. It also involves the study of the consumer's mental, emotional and behavioral responses that are related to these activities. It is an inter-disciplinary field that uses tools from various fields such as psychology, anthropology, ethnography, sociology, marketing and behavioral economics. Consumer behavior also deals with examining how attitudes, emotions and preferences influence buying behavior. There are numerous external and internal factors which influence the consumers while purchasing products. A few of these factors are consumer awareness, self-actualization, perception, culture and social class. This textbook is a compilation of chapters that discuss the most vital concepts in the field of consumer behavior. It presents this complex subject in the most comprehensible and easy to understand language. This book is appropriate for students seeking detailed information in this area as well as for experts.