ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -The Howard Sheth model of consumer behavior posits that the buyer’s journey is a highly rational and methodical decision-making process. In this model, customers put on a “problem-solving” hat every step of the way-with different variables influencing the course of the journey.

Detailed explanation-2: -The Howard Sheth Model is an approach for analyzing the combined impact of the social, psychological and marketing factors on the buying behaviour or preference of the consumers and the industrial buyers into a logical order of information processing.

Detailed explanation-3: -Finally, no direct relation was drawn to the role of religion in influencing the consumer’s decision-making processes. Religion was considered as an external factor with no real influence on consumers, which gives the model obvious weakness in anticipation of the consumer decision.

Detailed explanation-4: -Models of Consumer Behaviour – 4 Main Models: The Economic Model, The Learning Model, The Psychoanalytic Model and The Sociological Model.