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Consumer behavior models – practical models used by marketers. They typically blend both economic and psychological models. They typically blend both economic and psychological models. In an early study of the buyer decision process literature, Frank Nicosia (Nicosia, F. 1966; pp 9–21) identified three types of buyer decision-making models.
Traditional models of consumer behaviour were developed by scholars such as Fishbein and Ajzen [163] and Howard and Sheth [164] in the 1960s and 70s. More recently, Shun and Yunjie have argued that online consumer behaviour is different to offline behaviour and as a consequence requires new theories or models. [165]
Furthermore, the traditional funnel model has been criticized for its limited focus on post-sale customer experience, which can hinder the development of brand loyalty and advocacy. [17] In response to these criticisms, several alternative models have been proposed to better align with contemporary consumer behavior:
The AIDA marketing model is a model within the class known as hierarchy of effects models or hierarchical models, all of which imply that consumers move through a series of steps or stages when they make purchase decisions. These models are linear, sequential models built on an assumption that consumers move through a series of cognitive ...
The traditional way to develop a psychographic segmentation model has been through a market research study surveying a statistically representative sample of a target audience. That target audience could be representative of the general population, a specific demographic or socioeconomic group, a population of consumers who utilize a certain ...
Indeed many alternative models exist in econometrics, marketing, sociometrics and other fields, including utility maximization, optimization applied to consumer theory, and a plethora of other identification strategies which may be more or less accurate depending on the data, sample, hypothesis and the particular decision being modelled.
COBRA (consumers' online brand related activities) is a theoretical framework related to understanding consumer's behavioural engagement with brands on social media. [1] [2] COBRA in literature is defined as a “set of brand-related online activities on the part of the consumer that vary in the degree to which the consumer interacts with social media and engages in the consumption ...
The strengths of the RMH explain differences depending on situations and consumers. For instance, if a new product is introduced, there will be a relatively stronger flow will be from Aad to Ab. This is because a consumer may first be exposed to the brand through ad. However, if a consumer has loyalty to the brand, prior Ab may affect Aad. [9 ...