ABSTRACT
This chapter offers insights into consumer behavior and discusses various aspects of why and how consumers buy products. It presents the consumer’s decision-making process having multiple stages and decision points. The five steps are problem recognition, information search, alternatives evaluation, purchase decision, and post-purchase evaluation. Consumer motivation, learning, and attitude are other pertinent factors that influence buying behavior. Consumer motivation refers to the underlying reasons or driving forces that lead a consumer to make a purchase. Consumer learning refers to the process by which consumers acquire new knowledge and skills that they can use to make informed buying decisions. Consumer attitude refers to the individual’s overall evaluation of a particular product or service. All three of these factors – motivation, learning, and attitude – work together to shape a consumer’s buying behavior. Understanding these factors can help marketers to create effective marketing campaigns that resonate with consumers and lead to increased sales. Moreover, other than the individual psychological and social factors, there are emerging fields of consumer research that offer highly useful insights into consumer behavior.
