Management and Organizational Studies 3321F/G Chapter Notes - Chapter 1: Consumer Behaviour, Compulsive Buying Disorder, Business Ethics

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3321F/G
• Professor: Tara Lee

Document Summary

Consumer behaviour study of the process involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires. Needs and desires to be satisfied range from hunger, thirst, love, status or even spiritual fulfilment. In its early stages of development, the field of consumer behaviour was often referred to as buyer behaviour. Reflecting an emphasis on the interaction between consumers and producers at the time of purchase. Marketers now recognize that consumer behaviour is an ongoing process. Exchange two or more organizations or people give and receive something of value. A basic marketing concept states that firms exist to satisfy consumers needs. These needs can be satisfied only to the extent that marketers understand the people or organizations that will use the products or services they are trying to sell. Consumers response is the ultimate test of whether a marketing strategy will succeed.