Intro to Business
Consumer behavior refers to the study of how individuals or groups make decisions to purchase, use, and dispose of products, services, ideas, or experiences. This understanding is essential for companies as it helps them to tailor their marketing strategies effectively, aligning with consumer needs and preferences. By analyzing consumer behavior, businesses can implement the marketing concept, develop a marketing mix that resonates with their audience, understand the nuances of buyer behavior, and leverage advertising to influence consumer choices.
congrats on reading the definition of consumer behavior. now let's actually learn it.