Consumer behavior—or how people buy and use goods and services—is a rich field of psychological research, particularly for companies trying to sell products to as many potential customers as possible.

Businesses use past, present and (potentially) future consumer behavior to develop product, pricing, distribution and messaging strategies – all four elements of the "Four Ps" of the marketing mix: ...

The term consumer behavior gets tossed around a lot. Let’s take a moment to properly answer the question: What is consumer behavior? At its core, consumer behavior is an act of studying a specific ...

Each business should have a pretty good understanding of our target consumers, how they think, and the reasons for how they behave. If not, it is very difficult to give them exactly they want. The ...

Credence goods are services for which consumers find it challenging to assess quality, even post-consumption. In these markets, experts possess superior information, creating a potential for fraud, ...

Retailers best serve customers when they can identify their needs and proactively meet them. That’s why accurately predicting consumer behavior is so important. It might not always be easy — Walmart’s ...

Over the last two decades or so, there has been a paradigm shift from corporate social responsibility (CSR) to environmental, social, and governance (ESG). And rightfully so. In 2015, the United ...