Define consumer behavior. Explain the Models of Consumer behavior
Consumer Behavior is the study of how individuals make decisions to spend their available resources (time, money, effort) on consumption related items.
Philip Kotler & Gray Armstrong: Consumer buyer behavior refers to the buying behavior of final consumers-individuals and households that buy goods and services for personal consumption.
Engel, Blackwell & Kollat, Consumer buyer is the acts of individuals in obtaining and using goods and services including the decision processes that precede and determine these acts.
"All marketing decisions are based on assumptions and knowledge of consumer behavior," (Hawkins and Mothersbaugh, 2007).
Brekman & Gilson: Consumer behavior may be defined as activities of people engaged in actual or potential use of market items-whether products services, retail environments or idea,
Steven J. Skinner: Consumer behavior is the action and decision processes of people who purchase goods and services for personal consumption.
Loudon & Bitta: Consumer behavior may be defined as the decision process and physical activity individuals engage in when evaluation acquiring, using or disposing of goods, or services.