Vicente, Raidenhile Mae CBET-20-202P Entrep 4 Assignment 1.

1. What is Consumer Behavior?

- Consumer Behavior is referred to people's choices, purchases, and consumption of goods and
services to satisfy their needs or wants.

2. Explain the basic Consumption process

- The basic consumption process is the need, want, exchange, cost, benefits, reaction, and value.
When a consumer is motivated by a need, a process begins in which the consumer seeks out
desirable ways to satisfy that need to meet needs the process entails a lot of psychological events,
such as thinking, feeling, and behaving, and it all culminates in value.

3. Explain the relationships of consumer behavior with other disciplines.

- Consumer behavior is related to other disciplines: Sociology is the study of social groups within
a society. The relevance of sociology to CB stems from the fact that consumers frequently occur
in group settings or are influenced by group dynamics in some way.

The anthropological means in consumer behavior concentrates on the effects of culture and
society on the individual consumers' behavior. Anthropological consumer research frequently
features the meanings which are symbolic people’s belongings

4. Explain the consumer behavior field's role in business, society, and for consumers.

- Consumer behavior field role in business is that the role of consumer behavior in business is
indeed essential. It will be one of the key factors in business decision-making related to
marketing activities and product innovations. A business must understand the attitude or reaction
of consumers to a specific service or product to be able to align marketing efforts accordingly.
By analyzing consumer behavior a business will find success in terms of market trends, increase
in customers, understanding competitors, innovation of new products, and making the business
continue to be relevant in the market.

Second is consumer behavior role in society consumer buying decisions differs from their role in
society, reference groups, and social status. For example like a mother will tend to buy
household needs, a teenager is more inclined to buy products that are endorsed by a certain
influencer or whom they idolized. A middle wage earner may need a laptop to use for work from
home set up and will no longer consider the brand. These factors affect the buying tendencies of
the public.
 The third one is the consumer behavior field's role for consumers. If the consumers choose
whether or not to buy a service or product, consumers start thinking about a variety of factors. A
consumer will either think thoroughly understand their needs, gather more pieces of information
about the service or product, and evaluate the alternatives. These factors may be considered by
the consumer to be able to make responsible purchases. However, it can also be impulse buying.
These may depend on the different behaviors of a consumer. Their habits, social status, reference
groups may influence their buying tendencies.