Advertisement Various retail models exist in the world of retail. To start with, let us first understand what a business model in retail entails. A business model is the manner in which a business chooses to serve its customers and stakeholders. In retail, a business model would dictate...
Information Processing Model: Information processing model of advertising affects developed by William McGuire. This model assumes the receiver in a persuasive communication situation like advertising is an information processor or problem solver. He goes through in being persuaded which constitutes a response hierarchy. The various steps like presentation,...
The Innovation Adoption Model: The innovation adoption model evolved from work on the diffusion of innovation. This model represents the stages as a consumer passes through in adopting a new product or service. The steps preceding adoptions are awareness, interest, evaluation & trail.
The Hierarchy of Effects Model: The hierarchy of effect model shows the process by which advertising works, it assume a consumer passes through a series of step in sequential order from initial awareness of a product or service to actual purchase.
AIDA MODEL: The AIDA model was developed to represent the stages a salesperson must take a customer through in the personal selling process. This model depicts the buyer passes through Attention, Interest, desire and Action. The salesperson must first get the customers attention & then arouse some...
Schiffman & Kanuk’s model of consumer decision-making: This model is related to the problem solving consumer & to some extent the emotional consumer model. This model is made up of three major components: Input Process Output
Nicosia model: This model tries to explain the behaviour of the buyer by establishing a link between the organization & its prospective consumers. The model suggests that the message from the firm first influences the predisposition of the consumer towards the product or service. Based on this...
Model of family decision making: This model depicts how family members interact with each other in the context of their consumer decision making. The various family member play different roles, these roles are: Influencers Gate-keepers Deciders Buyers Preparers Users
The Engel-Kollat-Blackwell Model: This model consists of five steps or activities which occur over a period of time. They are: Problem recognition Information search Alternative evaluation Choice and Outcome
Howard-Sheth model: It is an integrated model. It assumes problem solving approach in buying and adopts input-output or system approach in buying. It has four sets of variables: (a)Input (b) Perceptual and learning constructs (c) Output (d) Exogenous or external variables. Input:- Inputs are provided by 3...
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