Models of Consumer Behaviour

Monadic models of consumer Behaviour
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Elasticity Model Pure economic / micro economic model As the price increases other things remaining the same demand will go down and vice versa Elasticity - price & income

Response Hierarchy Model
 this model attempts to predict

the sequence of mental stages that consumer passes through while purchasing a product Cognition-________ Affective ______ Behaviour AIDA Model – attention, interest , desire , action

Black Box model

Stimulus response model which cannot be opened to find out its working Consumers mind is treated like a black box It doesn't describe formation of purchase behaviors but mention, personality, motivation, attitude and learning process , the factors standing in between input

Electric / multivariable models of consumer behavior
Howard-Sheth Model
This model explains the buyer decision process using six set of variables Input variables behavioural Determinants perceptual reaction processing determinants inhibitors output variables

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The Engel , Blackwell & Miniard Model
  3. 4. 5. 6. 7.

1968-1990 5 major activities : Need recognition Search for information Alternative evaluation purchase outcome

Nicosia Model

buying model based on the technique of computer flowcharting

The product Adoption Model
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innovators early adopters early majority late majority laggards