Relationship between Consumer Behavior and Decision Making

Consumer behavior can be defined in three words: buying, having and being. It is the study of the process which involves how, why and what an individual or group select, purchase, use and dispose the product, services, experiences or ideas to satisfy their needs and desires (Solomon, 2015). In simple word, Consumer behavior is the process consumers go through when they make purchases (Lombardo, n.d.). The exchange goods and services with monitory value occur in the market, in which two or more organizations or people try to satisfy their needs. It is an ongoing process. While purchase or exchange valuable items, the consumer goes through pre-purchase, purchase and post purchase stages while decision making.
Consumer behavior is the study of how consumers behave in the market physically and psychologically, but the actual buying process depends on the decision made by the consumer. The decision making process of a consumer depends on his/her behavior which involves the steps such as need recognition, information search, evaluation of alternatives, purchase decision and post purchase evaluation. The consumer must have reason to believe that what they want, where and how (Jones, 2014). So, they apply all these states while purchasing the product. The consumer behavior can be influenced by the social factors, psychological factors, cultural factors, and economic factors. This influenced behavior can alter the decision make by them. So, decision making and consumer behavior are interlinked with each other directly.  For instances, my wish of buying a Ferrari car can be placed in to consumer behavior, and this behavior may influenced by my purchasing power, preferences of my family, mine cultural values and norms etc. The actual purchase of Ferrari car depends on my decision and decision making process.

References
Jones, S. (2014). The Six Stages of the Consumer Buying Process and How to Market to Them. In Business2community. Retrieved from    http://www.business2community.com/consumer-marketing/six-stages-consumer-buying-process-market-0811565#AxcRSemvq2qZYUkd.97

Lombardo, J. (n.d.). Understanding the Consumer Decision-Making Process: A Marketing Must.

                                      In study.com. Retrieved from http://study.com/academy/lesson/understanding-the-consumer-decision-making-process-a-marketing-must.html
 Solomon, M.R. (2015). Consumer behavior: Buying, having and being. New Jearsey. Pearson Education, Inc.


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