Different Models of Consumer Behavior †MyAssignmenthelp.com

Question: Discuss about the Different Models of Consumer Behavior. Answer: Introduction: In advertising, there are various consumer behavior models that explain how buyers make purchasing decisions. One major consumer behavior model is the economic model that suggests buyers purchasing pattern is based on the gaining the highest utility while minimizing the costs associated with obtaining the product (Paine). On the other hand, the learning model suggests that a buyers behavior is guided by the desire to meet and fulfil a basic need and learned needs. While the basic needs include food, clothing and shelter, the learned needs comprise of guilt and fear (Paine). Hence a consumer tends to purchase those goods and services that satisfy their needs and offer satisfaction. Therefore, it is important for a an advertising firm to understand these behavior models to understand how consumers make purchasing decisions management. Generally, various factors influence the consumers purchase decisions among them environmental, marketing, personal, cultural and psychological factors. As such, these forces cause consumers to develop product and brand preferences, thereby influencing their consumer behavior (Heshmat). For instance, personal factors such as the age, lifestyle and economic status of a consumer influence the type of goods and services that the consumer prefers. In the same way, social factors such as family, social status and reference group may dictate the kinds of goods and services that an individual purchases (Heshmat). Furthermore, cultural forces have a slight influence on an individuals purchasing decision process. All these factors combined determine the consumers purchasing behavior. Works Cited Heshmat,, S. "10 Factors That Influence Your Purchase Decisions". Psychology Today, 2017, https://www.psychologytoday.com/us/blog/science-choice/201712/10-factors-influence-your-purchase-decisions. Accessed 6 Apr 2018. Paine, M. "What Are The Different Models Of Consumer Behavior?". Bizfluent, 2018, https://bizfluent.com/info-8083297-different-models-consumer-behavior.html. Accessed 6 Apr 2018.