What does consumer behavior study?

Consumer behavior is a field that examines the processes and factors influencing how individuals make decisions regarding the acquisition and use of goods and services. This includes studying the psychological, social, and emotional factors that drive consumer actions, preferences, and spending habits. Understanding consumer behavior helps marketers to tailor their strategies to meet customer needs and enhance customer satisfaction, ultimately guiding their decision-making processes.

In the context of the other choices, while they each touch on aspects of marketing or sales, they do not encompass the broader scope of consumer behavior. For example, increasing product pricing focuses specifically on pricing strategies without considering the underlying consumer decision-making processes. Minimizing marketing costs relates to operational efficiency rather than understanding what drives consumer choices. Lastly, while the impact of advertising on sales is relevant, it is a narrower concern than examining the reasoning behind consumers' spending behavior as a whole. Thus, the study of consumer behavior fundamentally revolves around how individuals make decisions to allocate their resources.