What is the focus of consumer behavior studies?

The focus of consumer behavior studies lies in analyzing consumer decision-making on resource spending. This area seeks to understand the factors that influence how individuals allocate their financial resources among various products and services. It encompasses aspects such as motivations, preferences, cultural influences, and psychological processes that guide consumers in their purchasing behavior. By examining these elements, businesses and marketers can tailor their offerings and strategies to better meet the needs and desires of their target audiences, ultimately leading to more effective marketing and sales approaches.

Other areas, such as how companies promote their products, assessing market demand for luxury goods, and investigating the impact of advertising on sales, are indeed related to the broader field of marketing but do not capture the core of consumer behavior studies. These aspects primarily focus on the external factors and strategies utilized by businesses, rather than the internal decision-making processes of consumers themselves. This distinction highlights why the analysis of consumer decision-making is central to understanding overall consumer behavior.