*Assistant Professor, Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, India
***Guest Faculty, Department of Commerce, Delhi College of Arts & Commerce, University of Delhi, India
Online published on 11 April, 2014.
Consumer behavior is the study of when, why, how, where and what people do or do not buy products. It blends elements from psychology, sociology, social, anthropology and economics. It attempts to understand the buyer decision making process, both individually and in groups. It studies characteristics of individual consumers such as demographics and behavioural variables in an attempt to understand people's wants. It also tries to assess influences on the consumer from groups such as family, friends, reference groups, and society in general.