Consumer behavior is an applied social science that draws on theories and concepts of
psychology, sociology, anthropology, economics, and statistics. A fairly young science,
the study of consumer behavior emerged in the late 1940s when many firms shifted
from a selling orientation (selling consumers the excess inventory of what they produced)
to producing goods that consumers actually needed and wanted. This change in
focus was the beginning of the marketing concept, the idea that firms should discover
and satisfy customer needs and wants in an efficient and profitable manner, while benefiting
the long-term interests of society