TRADITIONAL MODEL OF CONSUMER BUYING
BEHAVIOR – ECONOMIC MODEL & LEARNING MODEL
SUBMITTED BY: SUMU KOIRALA SUBMITTED TO: BIDUR KHADKA
2022/12/18
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TABLE OF CONTENT
1. Introduction
2. Traditional model of consumer buying behavior
3. Economic model
4. Learning model
5. Conclusion
6. References and Bibliography
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INTRODUCTION
Consumer buying behavior: Consumer buying behavior is the process
whereby an individual decides what, when, how, and from whom to
purchase goods and services.
Model of consumer buying behavior: A consumer buying behavior
model is ‘something’ that helps understand the unique customer base and
more effectively attract, engage, and retain them.
Two most common models of consumer buying behavior –
1. Traditional model and
2. Contemporary model.
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TRADITIONAL MODEL OF CONSUMER BUYING BEHAVIOR
Traditional models consist of four different models
1. Economic model
2. Learning model
3. Psychoanalytical model
4. Sociological model
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ECONOMIC MODEL
oldest models & the widely used models.
It tries to explain what a person is likely to buy and in what quantity.
This model takes into consideration the behavior of an economic man, who would give
foremost importance to monetary or financial considerations while making a decision. This
model argues that consumers try to meet their needs while spending as few resources (e.g.
money) as possible.
The ultimate objective of an individual, as per this model, is the maximization of satisfaction
by investing the minimum money resources for the satisfaction of needs and wants.
Limitation: A buyer may have other reasons for purchasing a product aside from price and
personal resources.
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LEARNING MODEL
The Learning Model says that consumers first make purchases to satisfy their basic needs and
then move on to meet learned needs.
For example, a hungry customer would fulfill their need for food before a learned need to
wear trendy clothing.
This model applies to a multipurpose business that sells products that meet all levels of
customer needs.
First leading them to the products that will satisfy their natural needs.
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MASLOW’S HIERARCHY OF NEEDS
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CONCLUSIONS
Consumer buying behavior
Model of consumer buying behavior – traditional and contemporary
models
Traditional model – economic, learning, psychoanalytical and
sociological.
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REFERENCES AND BIBLIOGRAPHY
Fundamental of Marketing for BBS Third Year by Mikha Shrestha & Dipendra Kumar Neupane, Advanced Saraswati
Prakashan 1st edition (2079)
https://blog.hubspot.com/service/consumer-behavior-model
https://www.communicationtheory.org/maslows-hierarchy-of-needs/
https://www.linkedin.com/pulse/economic-model-consumer-behaviour-anupam-kumar
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