This week we’re discussing consumer behavior, what it is and why it’s important. We have learned that consumer behavior is the process in which consumers, who are motivated by a need work to find ways to fill those needs. Consumer behavior can be looked at as a human behavior (thoughts, feelings and actions) in relationship to consumption and consumer behavior as a field of study. The consumption process includes: a want, exchange, costs, benefits and reactions. And consumer behavior can be studied as a part of economics, psychology, sociology and marketing. As we have read in our lesson this week, consumer behavior is relevant in a variety of situations.
Take a look at the following six scenarios. Pick three of these situations and reflect on how each of the three situations relate to consumer behavior. Your work should be at least 500 words and draw from your own personal thoughts and ideas. This journal entry should be written in first person and if you use information from the textbook or lecture be sure to cite your sources.
A student selling a textbook back to the college bookstore
A student purchasing a value meal from an on-campus fast-food stand
A family purchasing a new home
A corporate CEO taking a prospective customer to lunch
A consumer injured during a pick-up football match who is given a tetanus shot at a first aid clinic
A consumer in a third-world nation who is considering the purchase of a battery-operated television from a government-owned store
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