Consumer behaviour can be defined as those acts of individuals (consumers) directly involved in obtaining, using, and disposing of economic goods and services, including the decision processes that precede and determine these acts. Understanding how consumers make purchase decisions can help marketing managers in several ways. Consumer behaviour, also called Buyer Behaviour is the process and act of decision-making of [...]
Everything you need to know about the consumerism in India. Consumerism is defined as social force designed to protect consumer interests in the marketplace by organising consumer pressures on business. Consumerism is a protest of consumers against unfair business practices and business injustices. Learn about:- 1. Meaning of Consumerism 2. Consumer Protection 3. Need for Consumer Protection 4. Consumer Responsibilities [...]
In this article we will discuss about the Numan Morgan utility function of consumer preference. Consumer has different choices for clothes, toothpastes, soaps, biscuits, air-tickets, bonds and debentures in their day today life. Sometime such choices are made under uncertainty. Microeconomics is interested in such kind of choice behaviors of individual. For understanding the theorem, we are using the example [...]