Consumer behavior can be defined from two different perspectives because the term refers to
-Human thought and action
-A field of study that I developing an accumulated body of knowledge

Consumer behavior is the set of value-seeking activities that take place as people go about addressing realized needs.

The basic consumption process is needs, want, exchange, costs and benefits, reaction, value.

A want is simply a specific desire that spells out a way a consumer can go about addressing a recognized need.
An exchange is the acting out of a decision to give something up in return for something of greater value.
Costs can be thought of as negative results of consumption.
Benefits are positive results of consumption. They are multifaceted.
Consumption is process by which goods, services or ideas are used and transformed into value.
Consumer behavior as a field of study is the study of consumers as they go about the consumption process; the science of studying how consumers seek value in an effort to address real needs.
Economics is the study of production and consumption.

Social psychology focuses on the thoughts, feelings, and behaviors that people have as they interact with other people
Cognitive psychology deals with the intricacies of mental reactions involved in information processing.

Marketing involves the multitude of activities that facilitate exchanges between buyers and sellers, including production, pricing, promotion, distribution and retailing which are all focused on providing value for consumers.
!!Without consumers, marketing is unnecessary!!

Sociology is the study ogf groups of people within a society with relevance for consumer behavior because a great deal of consumption takes place within group settings or is affected by group behavior.
Anthropology is the study in which researchers interpret relationships between consumers and the things they purchase.

Consumer orientation is a way of doing business in which the