What is meant by consumer behavior?

Consumer behavior refers to the study of how individuals make decisions regarding the purchase, use, and disposal of goods and services. It encompasses the motivations, preferences, and influences that guide consumers in their buying habits. Understanding consumer behavior is crucial for marketers, as it helps them tailor their strategies to meet the needs and desires of their target audience.

For example, insights into consumer behavior can reveal why people choose one brand over another or how factors such as cultural influences, social status, and personal preferences impact purchasing decisions. By focusing on these elements, companies can better design their marketing campaigns, product development, and overall customer experience to align with consumer expectations and increase satisfaction.

The other options focus on different aspects of marketing and business operations. Pricing strategies are essential, but they relate more to business behavior than consumer behavior. Market trends and economic factors analyze broader trends that can influence many consumers, but they do not specifically address the individual decision-making process. Lastly, evaluating sales techniques pertains to sales strategies rather than the underlying behaviors and motivations of consumers themselves.