A study that deals with activities that directly involved in selecting, obtaining, and using products and services and ideas to satisfy needs and desires, including decision processes that precede and follow these actions.” (Davis and Palladino, 1995)

The statement you provided is a definition of Consumer Behavior. It is a field of study that examines how individuals, groups, or organizations select, buy, use, and dispose of goods, services, ideas, or experiences to satisfy their needs and desires.

Here's a step-by-step breakdown of the definition:

1. "Selecting, obtaining, and using products and services and ideas": This refers to the process consumers go through when they are deciding what products or services to purchase or use. This can include everything from deciding what type of product to buy, to choosing a specific brand, to determining how often to use a particular service.

2. "To satisfy needs and desires": The ultimate goal of consumer behavior is to meet the consumer's needs and desires. This can be anything from a basic need (like food or shelter) to a more complex desire (like a luxury car or a vacation).

3. "Including decision processes that precede and follow these actions": Consumer behavior doesn't just involve the act of purchasing a product or service. It also includes the thought processes that lead up to that purchase (like researching different options, comparing prices, etc.) and the actions that follow the purchase (like using the product, evaluating its effectiveness, deciding whether to buy it again, etc.).

So, in essence, the study of consumer behavior involves examining the entire process a consumer goes through when deciding to purchase and use a product or service, from the initial decision to the final evaluation.