Theories Of Consumer Behavior

624 Words3 Pages
The theory of consumer behavior is based on a variety of different assumptions. One of the first basic assumptions is consumers act on rational behavior. Consumers are naturally drawn to what will lead them to the better sale. Each naturally want to spend their income and get the maximum satisfaction for their dollar. For example if Miller Lite was fifteen dollars for twenty-four cans and Busch Beer was twenty dollars for forty cans, the consumer may be drawn toward Busch alcohol. By buying the second brand the consumer will be following rational behavior theory by getting the maximum amount of utility for their dollars spent. This statement would hold true if it were not for consumer preferences. The next basic assumption for the theory of consumer behavior is consumer preferences when referring to a good or service. For instance, if a consumer has always bought Miller Lite he/she will always go into the store and purchase that without looking at its substitutes. If the opposite holds right, a consumer may be drawn to another brand of beer, such as Busch. When looking at other bran...
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