My former room mate represents the majority of the population. If they get to thinking about it, most people will indeed go clear across town to find the cheapest price vs. their second favorite option, which is going next door and getting the most convenient product.

Fun vs. Functional

What happens when people are faced between buying a "fun" product or buying a "functional" product?

Part of the answer depends on who you are shopping with. Who is with you that you will be responsible to?

And, in a study that sheds new light on how consumers choose between pleasurable or practical products, a University of Washington researcher has found that people are more likely to buy fun products, but only if the situation allows them the flexibility to rationalize their purchases.

According to Erica Okada, an assistant professor of marketing at the UW Business School, goods can be broadly categorized into hedonic goods that offer enjoyment and utilitarian goods that offer practical functionality. For example, she said, in the wide product category of automobiles, sports cars are more hedonic and sport utility vehicles are generally more utilitarian. Between a sports car and an SUV, consumers may find the prospect of buying a sports car more appealing, but in a side by side comparison, consumers are much more likely to buy the SUV to avoid feeling guilty for buying something that is perceived more as a want than a need.

KEY: People don't want to experience the feeling of guilt and will override their desire for pleasure to avoid feeling guilt. It's that powerful.