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How Relevant Is The Rational Model of Consumer Decision-making to Marketers Today? - Essay Example

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Masters
Essay
Marketing
Pages 6 (1506 words)

Summary

The author of this descriptive essay mainly focuses on the discussion of the topic of the rational model of consumer decision-making and analyzes how relevant it is to the marketers today. At the end of the paper, the author comes to the interesting conclusions and gives his recommendations…

Extract of sample
How Relevant Is The Rational Model of Consumer Decision-making to Marketers Today?

The author of the essay "How relevant is the rational model of consumer decision-making to marketers today?" begins with the short introduction of the rational model notion. 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 homogeneous 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 favorite beverage and then sets about exploring options to fulfill this need. The vast volumes of marketing literature that have conducted studies on consumption behavior 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. Shukla (2010) reports that Asian consumers have recurring tendency to consume products that can enhance their social position or gain some sort of psychological fulfillment when important reference groups applaud their product decision-making, a phenomenon known as conspicuous consumption. The energy drink, Red Bull, for instance, may be more socially acceptable in a group that is familiar with the brand name and trust in its quality over that of a lesser-known juice brand. To choose another beverage brand and then present it to the collectivist reference group could lead to social chastisement or some other dimension of criticism that would influence future repurchases. ...
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