For undergraduate consumer economics and related consumer science courses.
This book provides an up-to-date look at the consumer movement and the intricacies of consumer behavior. It addresses who buys what, how, when, and why. It also looks at the forces that impact consumer choice in an ever-changing and often turbulent world–all using a balanced textbook/casebook approach. This edition emphasizes the consumer power model, includes more on personal finance and reflects the latest consumption shifts and impact consumers have on product development, advertising, packaging and promotion.
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Today's consumer is operating in a much more complex marketplace than could ever have been envisioned by Adam Smith, founding father of modern economics, who argued that consumers―not kings or parliaments―should rule nations. There is no doubt that the consumer is still sovereign, but controlling resources is becoming increasingly difficult. This text examines and explains the issues surrounding the modern consumer.
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