Learning Objective How Do Consumer Behaviors Affect Prices?
Key Terms How Do Consumer Behaviors Affect Prices?
How Do Consumer Behaviors Affect Prices?
Consumer Behaviors
Motives for Emotional Buying
What emotions and thought processes are used in an electronics store?
2. Impulse Buying
3. Rational Buying
Emotional and impulse buying can lead to buyer’s remorse.
Buying Strategies
Economizing
Why is buying one six-pack of a product cheaper than buying six individual products?
How might you optimize your spending if you are saving for an expen- sive product?
Optimizing
Which of the following is a motive for rational purchasing?
Market prices are only affected by costs, not competition.
Optimization occurs when prices are lower.
Which of the following options does NOT often lead to an impulse buy?
High-value products are always the cheapest option.
