Whois & Analysis for clicksco.com

Consumer behaviour is the study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy their needs and wants.

It is also concerned with the social and economic impacts that purchasing and consumption behaviour has on both the consumer and wider society.

Consumer behaviour blends elements from psychology, sociology, social anthropology, marketing and economics, especially behavioural economics.

It examines how emotions, attitudes and preferences affect buying behaviour.

Characteristics of individual consumers such as demographics, personality lifestyles and behavioural variables such as usage rates, usage occasion, loyalty, brand advocacy, willingness to provide referrals, in an attempt to understand people's wants and consumption are all investigated in formal studies of consumer behaviour.

The study of consumer behaviour also investigates the influences, on the consumer, from groups such as family, friends, sports, reference groups, and society in general.

Marketing is the study and management of exchange relationships.

The American Marketing Association has defined marketing as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.".

Profit or normal profit is a component of (implicit) costs and not a component of business profit at all.

It represents the opportunity cost, as the time that the owner spends running the firm could be spent on running a different firm.

The enterprise component of normal profit is thus the profit that a business owner considers necessary to make running the business worth his or her while, i.e., it is comparable to the next-best amount the entrepreneur could earn doing another job.

Particularly if enterprise is not included as a factor of production, it can also be viewed a return to capital for investors including the entrepreneur, equivalent to the return the capital owner could have expected (in a safe investment), plus compensation for risk.

In other words, the cost of normal profit varies both within and across industries; it is commensurate with the riskiness associated with each type of investment, per the risk-return spectrum.