1. It is said that the study of consumer behavior helps companies develop marketing strategies related to the behavior of the consumers to whom their businesses focus and the consequences and impacts that these processes have on the consumer and society. Whom? Does the study of consumer behavior benefit? A- Mention the steps in the consumer purchasing decision process. Now analyze each of the steps. Think about a product that you consume, choose one of the steps in the purchasing process that you carry out for that product and then mention how this can impact one or more elements of the marketing strategy (product, price, place and promotion).

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The study of consumer behavior benefits various stakeholders including companies marketers advertisers product developers researchers and policymakers ... View the full answer