Banking · Consumer Behavior Models
When analyzing the Howard-Sheth model of consumer behavior within the retail banking sector regarding complex financial products like home loans, if a bank offers a 0.5% interest rate concession to women borrowers and waives processing fees during a festive season, which specific type of stimulus, according to the model, is being predominantly manipulated?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Social stimuli arising from the influence of family, social class, and reference groups within the consumer's environment.
- 2Significative stimuli which represent the actual physical characteristics and attributes of the product such as price and quality.✓
- 3Symbolic stimuli which are the linguistic or pictorial representations of the product attributes provided by the marketer.
- 4Internal stimuli related to the consumer's previous experience and psychological predisposition toward the banking brand.
Correct answer
Significative stimuli which represent the actual physical characteristics and attributes of the product such as price and quality.
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