5 Questions
What does the term 'consumer' refer to?
Someone who pays for goods or services for personal use
Why are consumers considered vital in the economic system?
They determine the demand for goods and services
In what instances are goods bought for 'final use' according to the text?
For personal use, household consumption, or as an end user
What is the role of an organisational consumer?
To procure goods and services for profit or not-for-profit organizations
What does 'consumer behaviour' refer to?
The actions and decision processes of people who purchase goods and services for personal consumption
This quiz covers the fundamental principles of consumer behaviour, including the definition of consumers, their significance in the economic system, and the profile of Indian and Global Consumers. It also explores the applications of consumer behaviour knowledge in marketing and methods of consumer research.
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