We now demonstrate that if a good rises in price, the quantity demanded of it is likely to fall. A geometric analysis of maximising utility…

Although a consumer’s demand curve for any good x is likely to be downward sloping we cannot be certain of this because of the presence…

To this point , our focus has rested entirely on the individual consumer. For economic and business analysis, though, it is market demand that matters….

The buying process starts with need recognition—the buyer recognizes a problem or need. The buyer senses a difference between his or her actual state and…

An aroused consumer may or may not search for more information. If the consumer’s drive is strong and a satisfying product is near at hand,…

The marketer needs to know about alternative evaluation—that is, how the consumer processes information to arrive at brand choices. Unfortunately, consumers do not use a…

In the evaluation stage, the consumer ranks brands and forms purchase intentions. Generally, the consumer’s purchase decision will be to buy the most preferred brand,…

A buyer’s decisions also are influenced by personal characteristics such as the buyer’s age and life-cycle stage, occupation, economic situation, lifestyle, and personality and self-concept….