TRADITIONAL MODEL OF CONSUMER BUYING

BEHAVIOR – ECONOMIC MODEL & LEARNING MODEL

SUBMITTED BY: SUMU KOIRALA SUBMITTED TO: BIDUR KHADKA
2022/12/18

1
TABLE OF CONTENT

1. Introduction
2. Traditional model of consumer buying behavior
3. Economic model
4. Learning model
5. Conclusion
6. References and Bibliography

2
INTRODUCTION

 Consumer buying behavior: Consumer buying behavior is the process

whereby an individual decides what, when, how, and from whom to
purchase goods and services.
 Model of consumer buying behavior: A consumer buying behavior
model is ‘something’ that helps understand the unique customer base and
more effectively attract, engage, and retain them.
 Two most common models of consumer buying behavior –

1. Traditional model and

2. Contemporary model.
3
TRADITIONAL MODEL OF CONSUMER BUYING BEHAVIOR

Traditional models consist of four different models

1. Economic model
2. Learning model
3. Psychoanalytical model
4. Sociological model

4
 ECONOMIC MODEL

 oldest models & the widely used models.

 It tries to explain what a person is likely to buy and in what quantity.
 This model takes into consideration the behavior of an economic man, who would give
foremost importance to monetary or financial considerations while making a decision. This
model argues that consumers try to meet their needs while spending as few resources (e.g.
money) as possible.
 The ultimate objective of an individual, as per this model, is the maximization of satisfaction
by investing the minimum money resources for the satisfaction of needs and wants.
 Limitation: A buyer may have other reasons for purchasing a product aside from price and
personal resources. An example is the case of a patient with a fatal condition.

5
LEARNING MODEL

 The Learning Model says that consumers first make purchases to satisfy their basic needs and
then move on to meet learned needs.
 For example, a hungry customer would fulfill their need for food before a learned need to
wear trendy clothing.
 This model applies to a multipurpose business that sells products that meet all levels of
customer needs.
 First leading them to the products that will satisfy their natural needs.

6
MASLOW’S HIERARCHY OF NEEDS
7
CONCLUSIONS

 Consumer buying behavior

 Model of consumer buying behavior – traditional and contemporary
models
 Traditional model – economic, learning, psychoanalytical and
sociological.

8
REFERENCES AND BIBLIOGRAPHY

 Fundamental of Marketing for BBS Third Year by Mikha Shrestha & Dipendra Kumar Neupane, Advanced Saraswati
Prakashan 1st edition (2079)
 https://blog.hubspot.com/service/consumer-behavior-model

 https://www.communicationtheory.org/maslows-hierarchy-of-needs/

 https://www.linkedin.com/pulse/economic-model-consumer-behaviour-anupam-kumar

9
10
11