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How relevant is the rational model of consumer decision-making to marketers today?
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How relevant is the rational model of consumer decision-making to marketers today? BY YOU YOUR SCHOOL INFO HERE DATE HERE How relevant is the rational model of consumer decision-making to marketers today? Introduction The rational consumer decision-making model is a fairly simplistic series of steps by which the consumer evolves in their process of consumption…
This model, however, is not very relevant to marketers in the current industry environment as there are many distinct factors involved with consumer decision-making which include cultural values, social expectations and psychological factors that cannot be excluded from the equation attempting to rationalise human behaviour. Explaining lack of relevancy of the model The rational decision-making model would tend to assume that consumer characteristics are universal, meaning that buyers of products and services generally share the same set of homogenous cognitive thinking traits by which decision-making is a practical and sensible process. For instance, a consumer opens a refrigerator, witnesses a lack of a favourite beverage and then sets about exploring options to fulfil this need. The vast volumes of marketing literature that have conducted studies on consumption behaviour would tend to strongly refute this notion. In most East Asian countries, cultures are collectivist in which group opinion and group membership are substantial social values. ...
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