Consumer Behavior Refers to

question 62

Multiple Choice

Consumer behavior refers to

• A)the aspects of a consumer's decision-making processes that cannot be measured.
• B)the actions a person takes in purchasing and using products and services,including the mental and social processes that come before and after these actions.
• C)the five stages a buyer passes through in making choices about which product and service to investigate,purchase,and consume.
• D)the mental and social processes related to purchasing that are innate in a person from birth.
• E)those purchasing behaviors that result from (1)repeated experience and (2)reasoning.

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Definitions:

Payment

The transfer of money or goods in exchange for a product, service, or to fulfill a legal obligation.

Overhead Expenses

Represents the ongoing costs of operating a business that are not directly tied to the production of goods or services, such as rent, utilities, and administrative salaries.

Profit

The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.

Selling Price

The amount of money for which something is sold or offered for sale to a buyer.