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This is not true in reality and hence, Perfect Decisions are not possible. Customer looks beyond prices while buying a product.
Model is too simplistic and idealistic and probably valid where there are very very limited choices
Freud tries to connect childhood and other experiences of individuals to explain Consumer Behaviour. These may be:
Guilt, Fear, Desires, Power, Lack of Power, feeling of Being Cheated, feeling of being Dominated, feeling of being bullied Influenced by the above, consumers may be rational or totally irrational. This may result in sudden changesin behaviour, brand change, impulse purchase
D. HOBBESIAN MODEL
This model essentially explains Industrial of B 2 B Purchasing. Four Factors that are Considered by this model to explain Consumer behaviour. First Factorpersonal factors
EGO Organizational Politics One-upmanship Stature Security Prestige within the Organisation PROMOTIONS Monetary benefits Recognition
D. HOBBESIAN MODEL-Contd
Second Factor How the Purchase satisfies Organisational Needs Low Cost Quality Delivery Credit Terms Better Yields Better Quality of Companys Finished Goods
D. HOBBESIAN MODEL--Contd
Third factor
Level of Self Confidence the Purchase would induce.
Fourth factor
Risk involved in making a specific Purchase decision. Risk Aversion
Fear of Failure
VEBLENIAN MODEL
Combination of PSYCHO SOCIAL INFLUENCES Products and services are bought by affluent buyers not because they serve any immediate need or purpose but are ornamental designs for some deep seated desire for EGO satisfaction and pssible to overcome a sense of insecurity. Generally valid for very high involvement Conspicuous items such as:
Paintings Diamonds Yachts High End cars Horses
These needs are more important in determining the Consumer Behaviour than those needs that are recently satisfied.
Stronger needs produce more Tension and must be satisfied
4. Esteemvaluation of Self By others 3. Love and belonging---To love and Be cared for