EMKT503 Unit 5 Consumer Behavior Summary

EMKT503 Unit 5: Consumer Behavior Summary

This chapter explains the major concepts of Consumer Behavior in Marketing Management for LPU MBA short-time revision, subjective answers, MCQs and theory-based preparation.

Core Concepts Covered

• Consumer Behavior: Consumer behavior studies how people select, buy, use and evaluate products.
• Buying Decision Process: Buying process includes need recognition, information search, evaluation, purchase and post-purchase behaviour.
• Cultural Factors: Culture, subculture and social class strongly affect consumer choice.
• Social and Personal Factors: Family, reference groups, roles, age, occupation, income and lifestyle influence buying.
• Psychological Factors: Motivation, perception, learning, beliefs and attitudes affect consumer behaviour.

Exam Recap

Revise definitions, differences, applications, examples and short notes. Important theory areas include Consumer Behavior, Buying Decision Process, Cultural Factors, Social and Personal Factors, Psychological Factors.