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A consumer complaint or customer complaint is "an expression of dissatisfaction on a consumer's behalf to a responsible party" (London, 1980). It can also be described in a positive sense as a report from a consumer providing documentation about a problem with a product or service.
Consumer economics is a branch of economics. It is a broad field, principally concerned with microeconomic analysis behavior in units of consumers, families, or individuals (in contrast to traditional economics, which primarily studies government or business units).
A consumer is defined as someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. Consumer interests can also serve consumers, consistent with economic efficiency, but this topic is treated in competition law.
Consumer sovereignty is the economic concept that the consumer has some controlling power over goods that are produced, and that the consumer is the best judge of their own welfare.
The term is not in widespread use in mainstream economic theory, but it is sometimes used to refer to practices of a coercive monopoly that raises prices above the market rate that would otherwise prevail in a competitive environment.
Consumer behaviour is the study of individuals, groups, or organisations and all the activities associated with the purchase, use and disposal of goods and services. Consumer behaviour consists of how the consumer's emotions, attitudes, and preferences affect buying behaviour.
The theory of consumer choice is the branch of microeconomics that relates preferences to consumption expenditures and to consumer demand curves. It analyzes how consumers maximize the desirability of their consumption (as measured by their preferences subject to limitations on their expenditures), by maximizing utility subject to a consumer ...
Customer satisfaction has important implications for the economic performance of firms because it has the ability to increase customer loyalty and usage behavior and reduce customer complaints and the likelihood of customer defection.
The term consumerism also denotes economic policies associated with Keynesian economics, and the belief that the free choice of consumers should dictate the economic structure of a society (cf. producerism). Modern political anti-consumerism developed in the 2000's.
A consumer economy describes an economy driven by consumer spending as a percent of its gross domestic product, as opposed to the other major components of GDP (gross private domestic investment, government spending, and imports netted against exports).