CONSUMER BEHAVIOR & DEMAND.
Analyzes consumer-business relationship in theory & practice, with examples. Impact of economy, savings, debt, marketing, product differentiation, brand names, changes in demand, more.
Companies seek to understand consumer behavior in order to determine the best way to shift demand in favor of their products. When... more
Companies seek to understand consumer behavior in order to determine the best way to shift demand in favor of their products. When companies are able to ascertain why consumers purchase particular goods and services, they can tailor their marketing efforts to address the needs of consumers. This increases sales, and (if the company is run effectively) improves the profit performance of the organization. Consumer behavior can also help companies increase demand by helping consumers accept new uses for existing goods and services. There is thus a close relationship between consumer behavior, demand, and marketing. This research examines consumer behavior and demand, and considers the ways in which companies can use consumer behavior theory to increase demand and quantity demanded for particular goods and servic