What are we talking about? Rational consumer behavior is when a buyer strives to get the product he needs for a minimal (or limited) amount of money.
How to change? Rational behavior is not reasonable behavior. The buyer makes a decision based on a subjective view, and this means that the business can manage it.
The article explains:
The essence of rational consumer behavior
Fundamentals of rational consumer behavior
Distinctive features and types of consumer behavior
Factors influencing rational consumer behavior
Principles and scenarios of rational behavior
The role of utility in rational consumer behavior
Stages of rational consumer behavior
An example of rational consumer behavior
Methods of analyzing consumer behavior
Methods of influencing rational consumer behavior
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The concept of rational consumer amazon database behavior is the basis of economic science and also determines the work of most companies. In this material, we will study this issue in detail.
The essence of rational consumer behavior
Wanting to buy the necessary goods, a person searches for combinations of the offered positions that are optimal in price and quality. This is rational consumer behavior. It allows him to satisfy his needs within certain amounts.
The algorithm of behavior for rational consumption looks like this:
A person makes a list of necessary purchases in accordance with the allocated budget.
Considers various kit options, taking into account their importance and necessity, as well as the final price.
Selects more affordable products that are similar to the original ones in terms of quality, but different in price.
The main task of the buyer is to combine the satisfaction of his needs with the possibilities of the available budget. In other words, it is necessary to fit into the financial framework.
An example of rational consumer behavior
The buyer has a certain amount of money that he receives per unit of time (set period) - this is the consumer's income.
Funds can come from different sources:
payment for work;
income from entrepreneurial activity;
money from the sale of property (renting out real estate, interest on deposits, etc.);
government payments (social, child benefits, maternity capital, pensions, etc.);
How the consumer spends money depends on a number of circumstances. However, some of it is always used to satisfy needs, and another - for accumulation. The ratio may be different.
Consumption Saving
- some portion of income is used to purchase goods - part of the amount is put aside for the purpose of saving or making a large purchase in the future
Important: you can’t give up consumption, you can only limit it.
There is always a certain amount of mandatory goods that satisfy basic needs: food, rest, safety. This includes food, medicine, clothing, etc.
Savings can be expressed in different ways. Common types are:
— storage in cash;
— bank deposit;
— investments in real estate;
— acquisition of securities;
— investments in precious metals;
- other methods of saving/accumulating.
In economic science, it is common to distinguish such forms of consumer income as real and nominal. The difference between them is in the value expression:
Nominal income is a certain amount received by an individual over a certain period.
The real one is expressed in the volume of goods that he can buy with this money.
Thus, the second expression has significance for the end consumer. The reason is the fluctuation of the inflation rate, which can significantly affect the number of purchases. In this case, cross-marketing can bring tangible benefits .