Question

Consumer behavior is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experience, or ideas to satisfy needs and the impacts that these processes have on the consumer and society.

Answer 1

Answer:

True

Explanation:

Consumer behavior is the study of the factors that influence customer's actions in the market place. Consumer's behavior seeks to understand why customers select, purchase, dispose, or consume a particular good or service to satisfy their needs and wants.  It analyses the consumer processes in decision making.

Consumer behavior applies concepts from other disciplines such as psychology, economics, biology, and chemistry.  Marketers use consumer behavior to understand the buying patterns of customers. The information helps businesses to identify gaps in the market and develops products to fill those gaps.