According to this theory of consumer Procural rationality behavior, purchasing decisions would be guid by the desire to maximize personal satisfaction . In this way, the value, supply and demand of a product or service would not be determin solely by its production costs, as classical theory suggests. Consumer perception would play a crucial role in this equation.

A real example of this consumer theory are luxury brands such as Louis Vuitton, Gucci or Chanel. The cost of producing a handbag, dress or perfume is lower than the price charg on the market.

This stimulates the personal satisfaction of the

However, people believe that the money invest is worth it, because these companies create personaliz and exclusive experiences .  people who consume these products and makes them feel special, valu, different from other people.

If you are interest in this rcs data theory and want to learn how to positively influence your audience’s perception, we recommend reading: What is customer value and how can it be creat?

Post-Keynesian consumer theory emerg in the 20th century and is influenc by several fields of knowlge: economics, sociology, psychology, marketing. Not surprisingly, scholars adhering to this line take quite different approaches to describing a person’s behavior when purchasing a product or service.

Post-Keynesian consumer theory (20th century)

However, it is possible to outline 7 common principles in post-Keynesian consumer theory, according to Marc Lavoie :

1.
Bas on the studies of Herbert bootstrap is a css framework us Alexander Simon, an American economist, this principle of consumer theory states that behavior is guid by rules or habits, and not satisfaction mechanisms .

According to the expert, people make purchasing decisions more or less spontaneously , guid by elements of their routine . This means that they do not be numbers spend much time reflecting on the pros and cons of buying a good in their daily life, except for certain goods , such as a car or a house, for example.