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Main theoretical consumer behavioural models. A review from 1935 to 2021
María Dolores Reina Paz1, Juan Carlos Rodríguez Vargas1
1Department of Business Economics and Accounting, National Distance Education University, Madrid, Spain.
Heliyon
|March 14, 2023
Summary
This study reviews decades of research on consumer behavior and attitudes toward spending and debt. It aims to identify key factors shaping current consumer conduct for a new psycho-economic model.
Area of Science:
- Company economy, focusing on consumer behavior and attitudes towards consumption and debt.
Background:
- Consumer behavior and attitudes towards consumption and debt have been extensively studied in company economics.
- This research builds upon prior work, offering a conceptual analysis and review of existing literature.
Purpose of the Study:
- To establish the defining characteristics of current consumer behavior.
- To identify patterns of conduct for developing a new contextual psycho-economic model of consumer behavior.
Main Methods:
- An exhaustive theoretical review of authors, theories, and models related to consumer behavior.
- Analysis spans from 1935 to 2021, covering a wide historical and theoretical range.
Main Results:
- Identified key characteristics and patterns determining contemporary consumer behavior.
- Provided a foundation for a novel psycho-economic model of consumer conduct.
Conclusions:
- The study synthesizes a comprehensive understanding of consumer behavior evolution.
- Highlights the need for updated psycho-economic models to reflect current consumer attitudes and actions.
