Consumer Behavior and Competition

Front

This is the study of consumers and how they make decisions.

Back

Consumer Behavior

Front

The consumer decision making process begins when consumers:

Back

recognize a need

Front

The Butter Ball Turkey hotline, 1-800-BUTTERBALL, receives thousands of calls each year. Callers ask a variety of questions about preparing and cooking turkeys. This hotline is an example of:

Back

helping customers be more satisfied with their purchase of a turkey.

Front

This is an unfulfilled desire:

Back

want

Front

This is anything you require to live.

Back

need

Front

This is the amount of income left after paying basic living expenses and taxes. We use this income to purchase goods and services that satisfy our wants.

Back

discretionary income

Front

This is the amount of income left after paying taxes only:

Back

disposable income

Front

This American psychologist studied needs and determined that people satisfy their needs in a rank order, known as a hierarchy:

Back

Abraham Maslow

Front

The first level in Abraham Maslow's hierarchy of needs is:

Back

physiological

Front

Gaining respect and recognition from others satisfies which level of Abraham Maslow's hierarchy of needs:

Back

esteem needs