ABSTRACT. Marketing approach considers that every economic activity has to be directed towards satisfying the consumers’ needs and wants, as efficiently as possible. This is sometimes difficult to achieve either because customers may not exactly be aware of their real needs and motivations or because they change their purchase decision at the last minute. Classical economic theory offers the idea that the consumer is a totally rational human being, a kind of “homo economicus,” and that his only concern on the market is to act as a robot that maximizes his utility and personal satisfaction by taking the “most rational” decision possible when choosing among the various goods and services available. However, such an approach is contradicted by the marketing theory which tries to get closer to the true nature of human beings. pp. 3–6

Keywords: consumer; consumer behaviour; brand names; homo economicus; economic theory; marketing approach