ENTREPRENEURSHIP

Detailed explanation-1: -The consumer decision-making process involves five basic steps. This is the process by which consumers evaluate making a purchasing decision. The 5 steps are problem recognition, information search, alternatives evaluation, purchase decision and post-purchase evaluation.

Detailed explanation-2: -primary consumers, secondary consumers, tertiary consumers or apex consumers are the different types of consumers. These types are according to the trophic level to which they belong.

Detailed explanation-3: -Psychological pricing is a pricing strategy that takes advantage of the way people perceive prices. This strategy involves setting prices just below a price point that contains a “9, ‘’ such as $9.99 or $19.99, in order to make a product appear cheaper and more attractive to buyers.