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Notes of CB 12.8

The document discusses four models of consumer behavior: the economic model which views consumers as rational actors, the learning model which focuses on how past experiences shape behavior, the psychoanalytical model which examines unconscious motivations, and the sociological model which analyzes external social influences on consumers.

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32 views2 pages

Notes of CB 12.8

The document discusses four models of consumer behavior: the economic model which views consumers as rational actors, the learning model which focuses on how past experiences shape behavior, the psychoanalytical model which examines unconscious motivations, and the sociological model which analyzes external social influences on consumers.

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BCom 2 B RPD College
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We take content rights seriously. If you suspect this is your content, claim it here.
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1.

Economic Model
Under economics, it is assumed that man is a rational human being, who will evaluate all the
alternatives in terms of cost and value received and select that product/service which gives
him/her maximum satisfaction (utility). Stated briefly , if he has certain amount of
purchasing power, a set of needs to be met and a set of products to choose from, he will
allocate the amount over the set of products in a very rational manner with a clear intention
of maximizing the utility of the benefits he is going to derive.
Economic model of consumer behaviour is unidimensional. It leads us to four important
predictions about the buyer behaviour.
1. Price effect – Lesser the price of the product, more will be the quantity purchased.
2. Substitution effect – Lesser the price of the substitute product, lesser will be the quantity
of the original product bought.
3. Income effect – More the purchasing power, more will be the quantity purchased
4. Communication effect – Higher the provisional expenditure, the higher the sales .
The assumption about the rational behaviour of human beings has been challenged by the
behavioural scientists. They are of the opinion that while the predictions are useful, the
model only explains how a consumer ought to behave, it does not throw light on how does
the consumer actually behave.
The model has ignored all vital aspects such as perception, motivation, learning,
attitude, personality and socio-cultural factors.
Added to this, man is today living in a technologically advanced age with constant exposure
to the various marketing variables such as superior technologically advanced quality
products (and services), efficient network distribution centers, highly interactive media
exposure etc. Under such circumstances man cannot be assumed to be a rational person
who only treats ‘price’ as the deciding factor in his consumption related decisions.
2. Learning Model
All theories of buyer behaviour have been basically based on a learning model namely,
Stimulation – Response or more popularly known as SR model.
SR learning theory is very useful to modern marketing and marketers. Learning is the
centrifugal point in the entire study of human behaviour.
Learning refers to a change in the behaviour that results from past experience and behaviour
in similar situations.
Of all the psychologist, pavlovian stimulus or learning model of buyer behaviour is widely
accepted.
• Learning process involves three steps namely:
1. Drive- a strong internal stimulus which impels action. When it is directed towards a drive
reducing object, it becomes motive.
2. Cues - are week stimuli. Cues determine when the buyer will respond. Say, we have cues
such as a product advertisement relevant to the situation and existing in our environment.
3. Response – is the final stage which is needed to fulfill the drive or need was acting as a
strong stimulus.
Thus the thirst, can be quenched by a soft drink supported by an ad. These sequential
components of learning finally results in habit.
As most Consumer behavior is learnt behavior, it has been impact on consumer buying
process. Prior experience and learning act as a buying guide.
In marketing , it is better known as learning brand loyalty, brand images and store
patronage.
4. Psychoanalytical Model:
This model is based on the work of psychologists who were concerned with personality.
They were of the view that human needs and motives operated at the conscious as well as
at the subconscious levels. This theory was developed by Sigmund Freud. According to him
human behaviour (personality) is the outcome of
(a) ‘id’ – the source of all mental energy which drives one to an action,
(b) ‘super ego’ – the internal representation of what is approved by the society,
(c) ‘ego’ – the conscious directing ‘id’ impulses to find gratification in a socially accepted
manner. Thus, we can say that human behaviour is directed by a complex set of deep-seated
motives.

5. Sociological Model
According to this model the individual buyer is a part of the institution called society. Since
he is living in a society, he gets influenced by it and in turn also influences it in its path of
development. 
As a part of sociological model – two important variations can be considered namely
– Nicosia
Howard sheth

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