5 Questions
Who is a consumer according to the text?
A consumer is the one who pays for and consumes goods or services, either for personal use or for organizational use.
What role do consumers play in the economic system?
Consumers play a vital role in the economic system of any country as the producers' motivation to produce goods is dependent on consumer demand.
What are the two categories of consumers mentioned in the text?
The two categories of consumers mentioned are personal consumers and organizational consumers.
What does the term 'end users' or 'ultimate consumers' refer to?
The term 'end users' or 'ultimate consumers' refers to individuals who purchase goods for their personal use or household consumption.
What does consumer behaviour refer to?
Consumer behaviour refers to the actions and decision processes of people who purchase goods and services for personal consumption.
This quiz covers the principles of consumer behavior and its significance, understanding consumer and market profiles, applications of consumer behavior knowledge in marketing, and methods of consumer research.
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