19234495 Basic Model of Consumer Behaviour

Basic Model of CB: • • • • •

Stages Problem recognition Info Search Alternative Evaluation Purchase Decision Post Purchase Evaluation

Psycho Process Motivation Perception Attitude Formation Integration Learning

Economic Model: Under the model, CB is one dimensional. Buying decisions are based on the concept of utility. Assuming that a human being is always rational, he will make his purchase decision with the intention of maximizing his utility. It is based on certain predictions of buying behavior: • Price-effect- lesser the price of the product, more the qty. purchased( this model doesn’t take into consideration diminishing marginal utility) • Lesser the price of substitute product, lesser will the qty. of the original product bought. This is called substitution effect. • More the purchasing power, more will the qty. purchased i.e. income effect. It doesn’t take into consideration effective component of human mind and it doesn’t take into consideration the products having no substitute like life saving medicines.

Learning Model: Classical psychologists have been interested in formation and satisfaction of needs and tastes. According to them, living beings were influenced by both innate needs like hunger, thrust, sex, shelter and learned needs like fear and guilt. A drive or internal stimulus which when directed towards a drive reducing objects becomes a motive. Products and services act as a stimulus to satisfy these drives. It only takes care of effective component but not the rational component of consumer mind.

Psycho-Analytical Model: Based on the research by psychologists in the area of personality. This model is based on the theory by Sigmund Fraud. Herein, human needs operate at the conscious as well as sub-conscious minds. Human beings are considered to have 3 states which work in tandem. They are: • ID- A source of all psychic energy, which drives us to action. It is most basic innate nature. • Super Ego- It is an internal representation of what is approved by society. • Ego- The conscious directing ID impulses to find gratification in a society accepted manner.

On the basis of this, human behavior is said to be directed by a complex set of deep seated motives. Therefore, buyers will be influenced by symbolic factors while buying a product. Marketers use this approach to generate ideas for development of product design features, advertisements and other promotional techniques. It doesn’t take into consideration internal traits of an individual according to the trait theory.

Sociological Model: As per the model, an individual is a part of institution called as society. Since he is living in society he gets influenced by it through his life experiences and aculturisation. This individual in turn also influences the society. The two work in tandem towards growth and development. The individual lays several formal and informal associations like that of a family member, a student or an employee or active member of an informal active social organization. This in turn influences product choices and service selection.

Blackbox Model: As per this model, human mind is complex model of observable, identifiable and measurable variables which are influenced by psychological traits that are individual by each individual. It is difficult for a marketer to be able to identify these variables. However the blackbox of a consumer is identified by memories, goals and expectations of individual consumer. Psychologists believe when a stimulus is directed towards a consumer, the memory is triggered in blackbox which gives a desired. This theory is based on the concept of classical conditioning wherein stimulus response is the elements which indicate directed behavior of individual. It doesn’t take into consideration motivation, perception of the consumers.