How Religion Affects Consumer Behavior. Consumer Attitudes and Seasonal Demand for Products

Book excerpt: Research Paper (postgraduate) from the year 2018 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 14, Leuven Catholic University, course: Economic Anthropology, language: English, abstract: This paper investigates how religion influences consumer behavior and the associated impact on the economy. Business organizations are set up with the aim of making a profit. The primary objective of any business is to maximize returns, and all efforts are directed towards this aim. Firms make a profit by selling goods and services to the customers. Therefore, high sales volume would translate to high returns for a company. The amount of goods and services sold by a company depends on the demand. When the demand for products is high, there is an increase in the sales and this translates to economic growth. This implies that there is a direct link between how people consume products and economy. It is worth noting that consumer behavior is a significant determinant of demand. However, consumer behavior is influenced by religion as it affects people's values and actions. It affects how and when consumers spend their money.