ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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true
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false
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Either A or B
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None of the above
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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: -Engel Kollat Blackwell Model This theory of buyer behavior operates on a four-phase process that influences how consumers make purchasing decisions: input, processing information, decision stages, and variables in the decision-making process.
Detailed explanation-3: -Models of Consumer Behaviour – 4 Main Models: The Economic Model, The Learning Model, The Psychoanalytic Model and The Sociological Model.
Detailed explanation-4: -What is the Nicosia Model of Consumer Behaviour? Nicosia model shows the relationship between attributes of customers, consumer decision-making process, and marketing communications of an organization, as well as, the feedback from the customer to the organization.