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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Q Do you believe consumers do behave rationally? Is so, how do you explain impulse buying, buying as a result of advertising or strong sales pitches, buying for purposes of conspicuous consumption, or buying to simply have something bigger and better than someone else? If consumers do not behave rationally, how can the theory in chapter 4 account for the above behavior? Is the theory still valid? If you think consumers do behave rationally, how can rational thinking explain the above behaviors? How do your thoughts impact, if at all, your opinion of the theory espoused in our text?

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It is believed that there is rationality in the behaviour of the consumers. It is true that there is an impulsive trait in almost all buyers but there are many different kinds of the issues that are also part of the debate. The majority of the buyers are rational as it is hard to find a person who will buy a luxury scarf in place of a burger when very hungry. Thus it is a very good theory for the consumers that there is rationality in everything that is done by them and it is also true there are consumers who are swayed by the different types of the attractive offers.