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Q. Explain Psychoanalytical model of consumer behaviour?
This model is on the basis of work of psychologists who were concerned with personality. They were of the outlook that human needs and motives operated at the conscious as well as subconscious levels. Sigmund Freud urban this theory. As-per to him human behaviour or else 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
(b) 'Super ego' which is the interior representation of what is approved by the society
(c) 'ego' which is the cognisant directing 'id' impulses to find gratification in a communally acceptable manner. Therefore we can say that human behaviour is directed by a complex set of deep-seated motives.
This signifies that buyers will be influenced by symbolic factors in buying a product.
Motivational research has been concerned in investing motives of consumer behaviour so as to develop appropriate marketing implications accordingly.
Marketers have been utilizing this approach to generate ideas for developing product-design features advertising as well as other promotional techniques.
Foreign Exchange Transactions : A foreign exchange transaction is ultimately the purchase or sale of one national currency against another arising out of import or export of goods
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