ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Perception is the process of selecting, organizing, and interpreting information. This process includes the perception of select stimuli that pass through our perceptual filters, are organized into our existing structures and patterns, and are then interpreted based on previous experiences.

Detailed explanation-2: -Situational Factors: These factors include the lifestyle of a consumer, use of the product or service, and the occasion for making the purchase. Personal Factors: These factors include the age of a consumer, location, and purchasing power.

Detailed explanation-3: -1. Problem recognition. The first step of the consumer decision-making process is recognizing the need for a service or product. Need recognition, whether prompted internally or externally, results in the same response: a want.

Detailed explanation-4: -A process that is a repeated cycle of “drive, cue, response, and reinforcement” is called. behavioral learning.