ABSTRACT
This first chapter covers some basics and sets the scene for the study of consumer behavior (CB). Exercise 1.1 begins by discussing the different types of wants and needs that marketers identify and satisfy via their products, which are tangible goods, intangible services, ideas, or anything else that can satisfy customers’ needs or desires. There are two types of needs: utilitarian needs (also known as functional or instrumental needs) and hedonic needs (experiential needs). Each type is satisfied by a distinct marketing strategy.
