Black box model in marketing relates to :
Consumer behaviour
The black box model is the stimulus–response model of buyer behaviour (Kotler). Marketing stimuli (the 4 Ps) and environmental stimuli (economic, technological, political, cultural) enter the buyer’s mind, and observable responses come out — product choice, brand choice, dealer choice, purchase timing and amount.
What happens inside the buyer’s mind — his characteristics and his decision process — cannot be observed directly, so it is called the buyer’s ‘black box’. The model is used to understand how buyers respond to stimuli, i.e. how consumers behave.
Marketing planning, the marketing mix and marketing control are managerial activities of the firm; the marketing mix only appears in the model as an input stimulus. The model itself explains buyer behaviour.
Hence, the answer is Consumer behaviour.
Which one of the following is not the assumption for consumer behaviour based on the Ordinal Utility Theory?
Which one of the following expresses the tendency of consumers to interpret information in a way that fits one’s preconceptions in the consumer buying behaviour?
The concept of consumer surplus was propounded by __________.
Goods whose demand varies inversely with income are called ____ goods.
_____ have an income elasticity of demand of between 0 and +1.