Consumer Behavior Refers to

question 50

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 repeated experience and reasoning.

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Definitions:

Net Realizable Value

The estimated selling price in the ordinary course of business minus the estimated costs of completion and the estimated costs necessary to make the sale.

Estimated Future Returns

Projections or forecasts about the potential gains or incomes from investments over a future period.

Sales Discounts

A reduction in the price of goods or services offered to customers, usually to prompt early payment or reward bulk purchases.

Gross Price Method

Gross Price Method involves recording inventory at its gross price, before deducting any trade discounts or rebates.