What does 'consumer behavior' study?

The study of consumer behavior focuses on the decision processes and actions of consumers as they decide to purchase goods and services. This encompasses a wide range of factors including psychological, social, and cultural influences that affect how individuals evaluate and choose products. Understanding consumer behavior helps businesses and marketers predict how consumers will respond to marketing strategies, develop effective advertising, and create products that meet consumer needs.

This area of study dives into how consumers gather information, the factors that influence their buying decisions, the stages in the purchase process, and how post-purchase satisfaction affects future buying behavior. By researching these aspects, organizations can tailor their approaches to enhance customer engagement and foster brand loyalty, ultimately improving their market position and sales performance.