Consumer is rational

By Guest Contributor October 3, Imagine a completely rational society. People behave in a consistent, predictable manner based on the information available to them.

Consumer is rational

A man is a rational being. He thinks before leap. He has ability of creative thinking and rational judgment. It is the rationality that distinguishes a man from other animals. Reasoning plays an important and predominant role in his actions, activities and decisions.

Rational motives are not based on emotions, whims, etc.

Engel, Kollet, Blackwell (EKB) Model

Rational product buying motives, which are dependent on products, are: In these days of rising prices, consumers think much in terms Consumer is rational durability, quality and reliability of the product before investing their hard-earned money in purchasing the same.

They are prepared to pay higher prices for durable goods. Thus, durability is of prime importance to the customers. While selling consumer durables such as cars, two wheelers, washing machines, sewing machines, furniture, fans, raincoat, etc.

The salesman should give more emphasis of this motive. It is one of the most important rational product motives. Customers pay much attention to this factor to have maximum advantage. Goods which are more suitable to the customers are purchased by the people. Articles of different sizes are available and some are suitable to some persons, whereas some to others.

Which is suitable to whom depends on many factors such as paying capacity, size of the family, size of the house and others? The size of the fridge, dining-table, water-filter, utensils, car, and pressure cooker must suit to the size of the family and income.

Consumer is rational

As life and wealth are uncertain, tension mounts when a man has too much money, bad health, more enemies, in travelling, in swimming, in playing, eating, drinking and so on.

These fears and tensions have made men too cautious because, precaution is better than cure. Therefore, the motive of fear plays an important role while buying the articles like vitamin pills, tonics, insurance policies, iron chests, guns, etc.

Thus, fear or safety is one of the strongest buying motives. Therefore, consumers prefer products that give more economy in every respect. Some people visit different stores and shops to purchase the best for a limited amount of money.

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Savings in operation and maintenance cost are also considered. For example, Bajaj scooters are purchased at a higher price because of its economy in petrol consumption and maintenance. Convenience speaks of saving in valuable time, mental and physical exertion. For example, students need not exercise their brain too much when pocket calculators are available, people do not like to climb staircases when lift is available.

Therefore, goods like electric heaters, remote control TV sets, water coolers, lighters etc. Any product which is versatile can be used for a number of purposes did not therefore liked by the consumers.

Consumer Behaviour (An Overview)

For example, folding sofa sets can be used for sitting and for sleeping as cots. If one is in need of cots and chairs for his domestic use, he usually prefers to purchase the sofa set. By explaining a customer that purchase of certain type of goods will result in saving or profit, a salesman can induce him to buy.Rational buying motives are those motives where a consumer is rational in taking buying decision.

Here head and mind dominate heart. Before making any purchase, he satisfies himself with the price, quality, durability, reliability and service and then decides to purchase the goods which are useful to him and are available at reasonable price.

Learn rational consumer with free interactive flashcards. Choose from different sets of rational consumer flashcards on Quizlet. Rational behavior is a decision-making process which results in the optimal level of benefit or utility for the individual. Rational Consumer Words | 5 Pages In economics a rational consumer is defined as the people who act in a rational way and make rational choices, namely spending their money wisely.

These stereotypes see consumer behavior as a result of clear, rational choice of economically-minded man. Moreover by this theory is possible to express consumers' behavior by language of numbers. Reading comprehension - ensure that you draw the most important information from the lesson on rational and irrational consumer behavior Information recall - access the knowledge you have gained.

Consumer is rational
The Meaning of Rational Choice Theory | vetconnexx.com