TRADITIONAL MODELS OF CONSUMER BEHAVIOR: AN OVERVIEW

Consumer behaviour can be defined as the decisions and actions taken by the consumers which influence their purchasing behaviour. Consumers' response to external stimulus either in form of marketing strategies or personal, economic and social attributes and their decision and buying behaviour is largely affected by this stimulus. It is thus, an inter-disciplinary social science that draws upon the disciplines of anthropology, psychology, sociology and marketing apart from economics. Therefore, many marketers often believe that a clear understanding of the buying behaviour of the consumers helps to analyse both past, present and future market scenario. The examination of the economic theories is helpful in identifying the consumer behaviour from the perspective of utility, prices and other economic aspects. But they do not reflect the perceptions or attitude of a consumer towards a product. So, to understand the consumer behaviour, a more holistic approach is required, that involves economic, non-economic theories and the decision making models. This paper is an attempt to understand the economic and psychological theories that influences the consumer behaviour. Further, an attempt has been made to correlate the consumer behaviour theories and consumer decision making models to explain the factors affecting the buying decisions of the consumers.

International Journal of Education Humanities and Social Science

The purpose of this study is to present the evolution of theories that have influenced consumer buying decision processes in a unique way. Consumer behaviour is the study of how individual customers or groups of organisations, select, buy, use, and dispose ideas, goods and services to satisfy their needs and wants. Marketers use theories of consumer behaviour to explain how consumers behave and to segment the market for consumers. Marketers make use of several theories of consumer behaviour, namely, traditional theories and contemporary theories. Traditional theories are based on economic principles or experiences of marketers, whereas modern theories are associated with empirical results. The concept of empirical means something that can be observed or measured. The theory of consumer behaviour is an explanation of facts in an orderly manner. However not all theories of consumer behaviour are good or sound. A sound theory of consumer behaviour describes both behaviour and the natur...

Tij S Research Journal of Social Science Management Rjssm, 2014

Various paradigmatic approaches have been adopted in dealing with consumer behaviour issues from studies led in research areas: marketing, psychology, sociology and economics. This paper makes an attempt to present few consumer behavior models and their explanations.

International Journal of Management Studies

The paper focuses on the definitions and most discussed theories on consumer behaviour. This includes a summary and literature review of the (a) economic theories, (b) psychological theories (c) psycho-analytical theories and (d) socio cultural theories of consumer behaviour. The objective is to provide marketers and students of marketing a comprehensive picture of theoretical research on the subject. The various theories are linked with empirical examples of consumer behaviour and strategic marketing literature in the analysis.

Consumer behaviour can be examined as it is a decision making process of an individual when consumer engaged in evaluating, acquiring, using or disposing goods/services. The decision making is basically depend on two important aspects that are the consumers expected amounts of satisfaction and the resources that are available to him for spending.

IAEME PUBLICATION, 2018

Realizing, and as well, analyzing the purchasing behaviour of consumer is the core constituent to provide efficient consumer satisfaction. A consumer is not only purchasing a produce, but he alone determines the victory of a firm. Hence for every successful firm, there exists a consumer support behind it. That support is technically called behavioural support and behind the support there is lot of theories to analyze and discuss the various concerns involving to consumer behaviour. Since World War II, taking into account the dire need of the public, the marketers started to market and encourage the produce what the consumers needed, instead of producing what the companies prefer. The concept of understanding the behaviour of consumer emerged in late 1940’s from which it has taken into so many dimensions. This is now known as “modern concepts of marketing”. At present, Consumer behaviour is commonly influenced by social, psychoanalytic and economical approaches. Each factor openly or not directly accounts to the characteristics of a buyer. Hence it is vital to be aware of the role of factors influencing the buying nature of consumer. The main iota of this research paper is to analyze the theoretical underpinnings and factors involved in consumer behaviour and its implications, in the light of developments crop upped in the recent past.

Today, business around the world recognizes that "the consumer is supreme and his sovereignty prevails." The power of the consumer is immense. Consumer is not merely a simple entity. Sherlekar and Krishnamoorthy treat the consumer to be a riddle. 1 "Consumer is a broad term and any person who uses a product or service or deals with it can be called a consumer." 2 It is not necessary that the particular person should be a buyer of the product or service. A consumer can also be termed as an individual who identifies a need or desire and then makes purchases.

CERN European Organization for Nuclear Research - Zenodo, 2018

Consumer behaviour is a science as well as art.Consumer behaviour is an interdisciplinary and is based on concepts and theories. Consumer behaviour is a very new field , as it grows, it is influenced by many different perspectives. It has borrowed heavily from psychology (the study of the individual: individual determinants in buying behaviour), sociology (the study of groups: group dynamics in buying behaviour), social psychology (the study of how an individual operates in group/groups and its effects on buying behaviour), anthropology (the influence of society on the individual: cultural and cross-cultural issues in buying behaviour), and economics (income and purchasing power). Normally, we go buying and consuming variety of goods and services. The needs and attitudes of the customers and their buying behaviour differently depend upon the factors like, their income, location, sex, social status, tastes, likes and dislikes, psychology etc. and each consumer is unique and his unique is easily reflected in his consumption behaviour and pattern, and also process of purchase. In this paper, I have made an attempt to trace the study of psychological aspects of consumer's behaviour. The present study has made an attempt to study the behaviour of personal consumers. Understanding the consumer behaviour is not an easy job because of the complexity involved. It also study has made an attempt to study the behaviour of personal consumer. Nature and Importance of Consumers Behaviour: An understanding of the reasons why a consumer buy a particular product or at a certain stage is critical. However, if the marketer fails to make an appeal to the right motives of the consumer. He will probably loose the sale. An understanding of the buying behaviour of various market segments helps a seller to select the most effective product, design, price, and appeals in advertising, channels of distribution and other marketing programmes.

Ability of the Marketing executive to effectively and efficiently design, plan and produce a product, price it, strategically promote and distinctively distribute it, is determined by his ability to make the product satisfactory to a complex set of consumers. McCarthy (1971) opines that, Marketing is the performance of business activities that direct the flow of goods and services from the producers to consumers or users in order to satisfy customers and accomplish the firm's objectives. The consumer is the pivot on which all marketing activities and decisions revolve. The consumer as the central focus of marketing activities has remained complex and unpredictable. What motivates, induces or informs his choice of one product brand rather than the other has been a subject of investigations and researches. The formulation and adoption of major classic and contemporary models in consumer and organizational behaviour for managerial decision-making in marketing practice is justified on the need to ensure knowledge of consumers for effective and efficient service delivery. Consequently, this paper broadly reviews major classic contour behaviour models in relationship to managerial decision-making in marketing practice. INTRODUCTION The subject of consumer behaviour has dominated most part of contemporary Marketing literature. Colossal investments made in product design, packaging, quality distinction, advertising, sales promotion, among others are all aimed at wooing the customer to make favorable decisions towards a firm's product offering. The firm's task is made even more complex because the complexity of the consumer makes it apparently difficult to instantly determine his needs and wants. The consumer makes decisions based on a lot of priorities, including among others personal beliefs, peer group influences, social status, economic status, cultural affinity, and other environmental variables. Therefore, firms are expected to sufficiently demonstrate how distinctive their product offerings qualify to receive the patronage of consumers. Much as it is the obvious task of the firm to study and identify the complexities in a consumer in order to serve him better, so also would the consumer consciously make deliberate efforts to choose between one firm's offering and another.

International Journal of Management & Entrepreneurship Research, 2021

There have been some multiple understandings and considerations of the concept of consumer behavior, however little is known about the concept in this contemporary area. This research purpose is to explore the concept of consumer behavior under different aspects of its interpretation. The approach is based on a sound documentary analysis, with some direct and indirect observations. It consists of a sound search for relevant literature, followed by the evaluation of sources, an identification of themes, and gaps. The results show that there are some similarities but also some differences in the definition of the concept following the research context. As such, there is not a quite common definition of this concept. However, a common conception of consumer behavior refers to the particular perceptions of habits, lifestyles, attitude and practices.