Theory of Consumer Behaviour presents a broad and comprehensive vision of the changing profile of consumer behaviour in the context of historical evolution of civilization and economic systems. This book provides a concise explanation and a critical evaluation of the concepts, theories and models of consumer behaviour. What gives this book an edge over the others are the practical examples both from India and abroad. The book exudes freshness as it embodies an economist's insights and a management expert's perception of consumer behaviour. This book will be an asset to students of management and economics, teachers, researchers, marketers and policy makers.
Part-I: Introduction •Consumer and Consumption: Pivot of Economy and Business • Decision Theory • Stylized Facts of Business and Economy Circular Flows and Stocks of Men, Materials, Money and Consumption • Hedonism, Materialism and Utilitarianism—Base of Consumer Behaviour, Part-II: Economic Models of Consumer Behaviour • Utility Analysis of Consumer Behaviour • Law of Equi-Marginal Utility • Indifference Preference Analysis of Consumer Behaviour • Indifference Preference Analysis Merits, Demerits and Practical Applications, Part-III: Managerial Models of Consumer Behaviour • Derivation of Demand Curve/Function • Aggregate Consumption Function Theory and Applications • Consumer Protection in India and the Consumer Protection Act, 1986, Part-IV: Empirical Models of Consumer Behaviour • Models—Concepts and Types • Models of Consumer Behaviour • Culture and Motivational Involvement Theories of Consumer Behaviour, Part-V: Manipulation of Consumer Decisions • Learning Theories and Models of Consumer Behaviour • Social and Economic Background of Consumer Behaviour • Influence of Groups on Consumer Behaviour • Changing Profile of Consumer and Consumption Baskets • Communication, Advertising and Consumer Behaviour • Diversification of Consumption Baskets and Consumer Durables • Growth of Income and Aggregate Consumption in India: Analysis in Macro Framework • Generalization of Engel's Law of Consumption • Intellectual Capital, Branding and Brand Value • Purchase Decision Makers for Households
Conceptual and theoretical clarity.
Critical evaluation of arguments.
Explanatory illustration of points and arguments with relevant Indian examples.
Practical demonstration of procedures of application of concepts and theories to data.
Implicit and explicit theorizing.
Selected cases of practical application of celebrated and well-established theoretical paradigms to the Indian context.