what is the difference between a rational and emotional buying motive?
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Rational Buying: It is the kind of buying where the buyer makes decisions according to logical reasons. ... Emotional buying: In this of buying, the customer is over shadowed by his emotional senses to buy that product and fails to look at the logical part of the bargain.
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1. Traditional finance assumes that an investor is a rational person who can process all information unbiased. While behavioral finance draws from real-world experience stating that an investor has biases, it is irrational, and his emotions do play a role in the kind of investments undertaken.
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['Complex buying behavior.', 'Dissonance-reducing buying behavior.', 'Habitual buying behavior.', 'Variety seeking behavior.']
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What is the difference between rational and rationale? Rational is an adjective that means well reasoned or logical. The noun rationale means logic, sense, or thinking.
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In economics, we often assume that people rationally seek their own interests. But greed, an excessive desire for more money or goods, is not a virtue. Self-interest can produce good outcomes. Why do you expect to receive food when you go to a fast- food restaurant?
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['Complex buying behavior. This type of behavior is encountered when consumers are buying an expensive, infrequently bought product. ... ', 'Dissonance-reducing buying behavior. ... ', 'Habitual buying behavior. ... ', 'Variety seeking behavior.']
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Whereas logic is the language of the conscious mind, emotion is the language of the unconscious mind. We know that emotions are reactions to perceived and imagined stimuli, not based on logic, but on one's own personal experiences. Emotions often outweigh our logic.
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['Nature and Size of Customers:', 'Complexity of Buying:', 'Economic and technical choice criteria:', 'Risks:', 'Buying to specific requirements:', 'Reciprocal buying:', 'Derived demand:', 'Negotiation:']
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Like interest, motivation involves a complex blend of the environment, cognition, and affect (Volet & J ä rvel ä , 2001 ); however, while interest is always motivating, what is motivating is not always of interest (Renninger, 2000 ).
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The Difference Between Active & Passive Buyers. Awareness is the first stage of the buyer's journey. ... Active buyers are prospects that are already on the buyer's journey. Passive buyers, on the other hand, haven't begun the buyer's journey.
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The functional need is a basic need rooted in logic and is needed for survival. The psychological need is more about an emotional connection to the product, such as status.
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Emotionally satisfied customers deliver enhanced value to a company, for example, by buying more products, spending more for those products, or returning more often to or staying longer with the business. Rationally satisfied customers, on the other hand, behave no differently than customers who are dissatisfied.
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Hence, a gift implies an intention to develop or maintain a social relationship between parties to the exchange. In contrast, commodities are exchanged strictly in relation to other commodities without any implied residual obligations or relationships between the people involved (Gregory, 1982).
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Product buying motives. Product buying motives refer to influences and reasons that prompt a buyer to choose a particular product in preference to other products. Product motives refer to all of the characteristics of a product that make it preferable to another.
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The difference between Motive and Reason. When used as nouns, motive means an idea or communication that makes one want to act, especially from spiritual sources, whereas reason means that which causes something: an efficient cause, a proximate cause.
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Answer and Explanation: False: Rational self-interest does not mean that a person is not concerned about others as it is the case with selfishness. It just means that a...
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Having passion is obviously a major plus, as it can help you get much further in anything that you do. ... Passion is an emotion, whereas ambition is a mindset. Passion leads to action in the moment, while a deep-seated ambition leads to developing strategies that keep you going even when passion ebbs now and then.