Consumer Behavior a There are three steps involved in the study of consumer behavior 1)We will study consumer preferences To describe how and why people prefer one good to another Chapter 3: Consumer Behavior Slide 8Chapter 3: Consumer Behavior Slide 8 Consumer Behavior ◼ There are three steps involved in the study of consumer behavior. 1) We will study consumer preferences. ◆To describe how and why people prefer one good to another