O'Reilly logo

The Practical Drucker by William A. Cohen

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER  |  TWENTY-EIGHT

There Are No Irrational Customers, Only Irrational Marketers

Value is a strong influence on what customers purchase. When you have what the customers value, they buy from you. Price is one, and only one, measurement of value.1 Yet some marketers wonder why customers would ever buy a more expensive product when a cheaper one of equal or sometimes even greater quality is available. These marketers say that such customers are “irrational.” But Peter Drucker maintained that irrational customers don't exist. However, he thought that the stubborn belief that customers who don't buy when the marketer thinks they should may itself be irrational. So maybe this means that a marketer who believes this may be a little irrational. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required