Question

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 is known as ___________.

Answer 1

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 is known as Consumer Behavior.

Explanation:

Consumers are the persons who use the products and services finally. They are directly related to the usage of the products and services. The study of the purchasing nature of the consumers plays an important role for the marketers so that they can clearly understand the expectations and needs of the buyers.

The study about the actions that drives the consumers to purchase certain products refers to the consumer behaviour. It may be because of the quality of the product or may be the quantity of the product that drives them purchasing that product. Consumer behaviour helps in understanding about the individuals, groups or organisations and that process that they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs.