Economic Model: Economic model of consumer behaviour is one-dimensional i.e.

buying decisions of a person are governed by the concept of utility. Being a rational man he will make his purchase decisions with the intention of maximizing the utility/benefits. All the alternatives in terms of cost and value received are evaluated. The law of equi-marginal utility (extension of diminishing marginal utility) enables him to secure maximum utility from limited purchasing power.Economic model is based on certain predictions of buying behaviour (a) price effect-lesser the price of the product, more will be the quantity purchased (b) Lesser the price of the substitute product, lesser will be the quantity of the original product bought (substitution effect) (c) More the purchasing power, more will be the quantity purchased (income effect).Behavioral scientists criticize this model on points This model assumes market to be homogeneous (i.e. buyers will think and act alike). It overlooks the presence of perception, motivation, learning, attitude & personality, socio-cultural factors and roles to be played. Other marketing variables like product, marketing communication, distribution network also affect not just the price and income. The model only explains how a consumer ought to behave but not throw light on how the consumer actually behaves. 2. Learning Model: Classical psychologists have been interested in the formation and satisfaction of needs and tastes. They argued that living beings were influenced by both innate (inborn) needs such as the primary needs of hunger, thirst, sex, shelter and learned needs like fear & guilt. A drive or internal stimulus which when directed towards a drive-reducing object becomes a motive. The various products or service will act as a stimulus to satisfy drives. For example, if you are a hungry you will be driven towards food, which after consumption will reduce the drive and provide satisfaction. According to learning theorists, this response of satisfaction (feeling) reinforces the relationship between drive and the drive reducing stimulus object as well as the related cues (signs/ indications). Human being learn to link stimulus with response (S-R) and also results in the formation of other cognitive processes such as attitudes, values, beliefs, motivation etc. occurs. This learning model will help marketers to promote associations of products with strong drives and cues and positive reinforcements. The learning model is entirely based on the capability of an individual to learn, forget and discriminate. It is based on Pavlov's stimulus response which states that in order to bring changes in buyer's behaviour one must change the drives, stimuli and responses as per buyer's attitude or perceptions. In marketing context, learning help marketers to understand how consumers learn to respond in new marketing situations, or how they have learned and responded in the past in similar situations. Very often it is observed that consumers experience with one product from a firm is likely to be generalized to the other products of the firm. Psychoanalytic Model: Since, the psychoanalytical model is a combination of two words 'psychology' and 'analyses,' it mainly deals with the analysis of psychology of consumers. According to this model, every purchasing decision has a complex motive by a purchaser which can be influenced by his or her sense of desires. This model is based on the work of psychologists who were concerned with personality. They were of the view that human needs and motives operated at the conscious as well as subconscious levels. Sigmund Freud developed this theory. According to him human behaviour or personality for that matter is the outcome of three components, viz., (a) id which is the source of all psychic energy which drives us as action (bachcho ki jid) (b) super ego which is the internal representation of what is approved by the society (inculcated) (c) ego which is the conscious directing id impulses to find gratification in a socially acceptable manner. (must) Thus we can say that human behaviour is directed by a complex set of deepseated motives(bachcho ki jid ko direction denewala). This means that buyers will be influenced by symbolic(adv. etc) factors in buying a product. Motivational research has been involved in investing motives of consumer behaviour so as to develop suitable marketing implications accordingly. Marketers have been using this approach to generate ideas for developing product-design, features, advertising and other promotional techniques. From marketing point of view this means that buyers will be influenced by symbolic factors in buying a product. Investigation on motives of consumer behaviour is going on. Sociological Model: According to this model the individual buyer is a part of the institution called society. Since he is living in a society, gets influenced by it and in turn also influences it in its path of development. He is playing many roles as a part of various formal and informal associations or organizations i.e., as a family member, as an employee of a firm, as a member of a professional forum and as an active member of an informal cultural organization. Such interactions leave some impressions on him and may play a role in influencing his buying behaviour. The marketers through a process of market segmentation can work out on the common behaviour patterns of a specific class and group of buyers and try to influence their buying pattern.