see in this rapid changing corporate world we must have to know that where we are lacking and as we know that our first priority should always intimate to us that what are the requirements our costomers are needed and according to that we have to manipulate each and everything
and managing all of those process is known as consumer behavior
Consumer behaviour:
Consumer behaviour is the study of how people buy, what they buy, when they buy and why they buy. It is a subcategory of marketing.Consumers are seen as active agents following rules of behaviour, fairly easy to follow and implement because they require only a limited amount of information and capability of elaboration. For instance, a consumer, being aware of a certain need and believing a certain good category satisfies it, might fix a maximum price he/she can afford and search for the best good available under such a constraint.
Marginal Utility:
The marginal utility of a good or service is its utility in its least urgent use of the most-desired available uses, in other words, the use that is just in the margin. The same object may have different marginal utilities for different people.
Law of Diminishing Marginal Utility:
The "Law of Diminishing Marginal Utility" states that for any good or service, the marginal utility of that good or service decreases as the quantity of the good increases, ceteris paribus. In other words, total utility increases more and more slowly as the quantity consumed increases.
Or
The most satisfying condition for a consumer where he can maximize his utility considering the limitations of price and income. The law suggests that the utility that a person gains from several units of the same good goes on falling ...