What is Rational Purchase? Definition of Rational Purchase, Rational Purchase Meaning and Concept
The purchase rational is that which is done after previous planning, and which have been taken into account all the factors that shape this acquisition. In this sense, factors such as price, quality, the need for the purchase, the advantages and disadvantages of it, etc.
In other words, a rational purchase becomes a conscious action, a thought and organized act of consumption, with solid arguments that justify the acquisition of a certain good or product.
The opposite case would be the impulsive purchase.
However, this behavior can be influenced both by the publicity that has been received in the past through advertisements, as well as the advice offered by family and friends. All this, even if the brand and the product you want to buy are very clear.
Causes of rational buying
There are several causes that determine whether a purchase is rational:
- The product and its price: Usually, products of a high price are acquired after reflection.
- The economic level of the buyer : When you have high income , there is a greater possibility of acquiring more high-priced products (the same as in the previous situation).
- The advertising : Provides information about the applications and advantages of the product, while making more attractive items.
- Payment facilities : The alternatives when paying the money make the act of purchase less burdensome, since they favor decision-making.
On the other hand, it is convenient to define the three main situations that consumers can find themselves in the previous step of the purchase:
1. Routine decisions : It occurs in the face of frequently used goods, such as bread.
2. Limited Decision Problem : When a new product appears, such as a moisturizer.
3. The complex decision : It arises in services that will be durable over time, such as a house or a car.
Phases in the purchase decision process
Among the phases that determine the purchase decision are the following:
- Recognition of the problem : It is the moment in which the consumer perceives an unmet need. A need that may well be due to internal motivations -products that satisfy primary needs-, or to a series of external stimuli, such as through an advertising campaign.
- Information search : When the consumer has already identified the need, he begins to search and collect information about the products and services that could satisfy him.
- Evaluation of alternatives : Process in which the client studies the possible purchase options. In this way, detecting what will be the benefits that could be obtained from each of the goods and / or services in question. The purpose of this is to be able to choose the one that best meets your needs.
- Decision making : Once the consumer has evaluated the possible alternatives, it may happen that they acquire the chosen option, postpone the purchase, or, finally, look for an additional alternative.
- Post-purchase evaluation : When the purchase of the good or service has already taken place, the consumer proceeds to carry out an evaluation of it. The goal of this is to see to what degree it has met your expectations. If the result is positive, the purchase of that good may be repeated. On the contrary, if the exam is not satisfactory, what is known as cognitive dissonance occurs. This is the feeling of post-purchase doubt due to consumer disappointment.