Fundamentals of rational consumer behavior
Posted: Thu Jan 23, 2025 4:12 am
In economic science, some constants or universal definitions are used to analyze the actions of the buyer. Rational behavior is understood as the consumer's behavior when he tries to achieve the maximum implementation of his budget when making purchases. This is what the desire to obtain the greatest benefit looks like.
In this case, behavior becomes rational when two conditions are met:
The consumer's actions are amazon database based on the principle of non-contradiction. Either he doesn't care what to buy, or there is a system of evaluation according to which similar goods are divided in order of decreasing usefulness. Also, he cannot buy something less suitable if there is something more advantageous.
The consumer strives for maximum cost optimization. He always tries to form his product basket in the best possible way.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
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Distinctive features and types of consumer behavior
The range of goods and services offered by the market largely depends on consumer demand. If a person shows by his behavior that he needs a particular product, the latter will definitely appear. In this way, a balance is maintained between supply and demand.
Consumer behavior is what marketers rely on when developing a product. It differs from the usual behavior in that it expresses the process of forming demand for goods and services.
Distinctive features and types of consumer behavior
It is difficult to predict the logic of consumer behavior unambiguously, since it is influenced by a combination of various factors. However, it is possible to identify some purely functional and therefore common features for most buyers:
demand depends on income;
it is influenced by the presence or absence of analogues on the market;
whenever possible, the consumer strives to optimize his expenses as much as possible;
The average buyer clearly knows what he likes and what he can buy.
Creating a unique selling proposition increases demand for your products or services.
However, as already mentioned above, consumer behavior is influenced by various factors. In addition to logical arguments, these may also be personal preferences, certain views, events.
In this case, behavior becomes rational when two conditions are met:
The consumer's actions are amazon database based on the principle of non-contradiction. Either he doesn't care what to buy, or there is a system of evaluation according to which similar goods are divided in order of decreasing usefulness. Also, he cannot buy something less suitable if there is something more advantageous.
The consumer strives for maximum cost optimization. He always tries to form his product basket in the best possible way.
Increase Your Profits by 10X: 5 Key Metrics You Must Track
Alexander Kuleshov
Alexander Kuleshov
General Director of Sales Generator LLC
Read more posts on my personal blog:
After working with over 300 online projects , I can guarantee: monitor these metrics weekly and your company will not only survive, but also increase its profits by 10 times!
In the context of sanctions and crisis, knowing the ROI of your advertising decides whether your business will be successful. Tracking these 5 critical indicators is the key to your prosperity.
What you get for free:
5 Key Metrics to Increase Profits by 220%
The Secret ROI Formula: Instant Advertising Efficiency Calculator
Anti-crisis Solutions Matrix: Find the Perfect Strategy for Your Business in 15 Minutes
We have prepared all the documents and templates with formulas for you. And yes, it is FREE:
Download documents for free
Already downloaded
153357
Distinctive features and types of consumer behavior
The range of goods and services offered by the market largely depends on consumer demand. If a person shows by his behavior that he needs a particular product, the latter will definitely appear. In this way, a balance is maintained between supply and demand.
Consumer behavior is what marketers rely on when developing a product. It differs from the usual behavior in that it expresses the process of forming demand for goods and services.
Distinctive features and types of consumer behavior
It is difficult to predict the logic of consumer behavior unambiguously, since it is influenced by a combination of various factors. However, it is possible to identify some purely functional and therefore common features for most buyers:
demand depends on income;
it is influenced by the presence or absence of analogues on the market;
whenever possible, the consumer strives to optimize his expenses as much as possible;
The average buyer clearly knows what he likes and what he can buy.
Creating a unique selling proposition increases demand for your products or services.
However, as already mentioned above, consumer behavior is influenced by various factors. In addition to logical arguments, these may also be personal preferences, certain views, events.