Why we Buy what we Buy

What motivates consumers is an age-old question that has baffled the scholar and practitioner of Marketing alike. In this lecture, the first of a two-part series on Consumer Motivations, an integrative model of the various factors guiding buying patterns is proposed. After considering the various theories in vogue, it proposes a new model based on the idea that consumers’ buying patterns are based on their beliefs about the differential value offered by their choices.

Part two of our two-part series on Consumer Motivations illustrates the model proposed in the previous lecture with a smoking behavior study that was conducted by Dr. Jagdish Sheth. The study considers three different choice situations: whether to smoke or not; which type of cigarette to smoke; and which brand to patronize. The study demonstrated strong validity for our theory.

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