“The Rational Approach to Expensive Consumption: Understanding Consumer Behavior” In the world of consumer behavior, individuals are constantly making decisions about what products and services to purchase. However, when it comes to expensive products or services, consumers tend to apply a more

Using the theories and concepts of consumer behavior covered in AMB200 course, explain why consumers tend to apply more rational approach in making consumption decisions involving expensive products or services. Your essay should be approximately 300 words (+/- 10%). You must demonstrate adequate understanding of the theories covered in class and integrate relevant literature resources. Use 2 to 3 literature sources. Your essay should be brief and precise.
Lecture slides: Must read before start doing it
https://drive.google.com/drive/folders/1QFXSZuzVRQEVv0EHFPxyNfzAmex_5VETG?usp=sharing