Model Characteristics

To understand and appreciate models we have to know their characteristics. The following are the characteristics or models as identified by the British Market Research Society in 1973.

(1). Micro -or Macro; A model is said to be micro if each individual or unit in the market or data is represented and processed at the individual level. In the case of macro model the total market is represented or considered as a whole.

(2)  Data-based or Theory based; Date based models are developed using data collected from the field or real life situations.  Theory-based model on the other hand are developed through the application of reason and have their bases in theories adopted from the behavioural science.

(3)Low,Medium,or High Models;  A low model is a model that is simple,which can be developed using few variables. The limitation of simple model,is that they have narrow coverage and do not represent all the variables involved. A high model on the other hand is a model that is comprehensive,representing all the variables involved. The medium category lies somewhere between the two.

(4)  Descriptive   (Historical or current diagnostic,or predictive model:  A descriptive model is that which describes the market situation or behavior,while diagnostic models are those that seek to explain or diagnose why consumers behave as they do. In the case of predictive model,they are set out to predict how consumers will behave under specified circumstance or conditions.

(5). Behavioural or Statistical Model:  In behaviors models,reference is made to underlying assumption about how the individual behaves. This type of model seeks to relate the total process of consumer responses to a given stimulus. In the case of statistical models there are no implicit assumptions about how or why consumers behave as they do.

(6). Generalized or Ad hoc Model:  As said to be generalized if they are intended to be or can be applied to wide rang of markets,while they are ad hoc if they are developed for use in one context or market only.

(7). Functional or Intellectual Models:  Functional models represent the actual function of the object. In other words,they are expected to have a real world application. The intellectual models on the other hand are not necessarily rooted in practicability.

(8). Static or Dynamic Models:  A model is said to be static if it represents a particular system at a given point in time and does not take account of time effects. The dynamic model in the other hand is able to represent system over time. It takes account of changing values of parameters and even changing basic relationships between parameter over time.

(9). Qualitative or Quantitative Models: A model is said to be qualitative if it those not involve measurement of explicit variables. In a quantitative model variables are measured.

(10). Algebraic,Sequential/Net,or Topological Models: In algebraic models,summation or other manipulations performed does not take consideration or the order of the variables involved. In sequential or net models,the order of the variable is explicitly taken into account by the model. Topological models are based upon fields theory concept involving space and geometry forces and motion. They are Gestalt models,that is they are concerned with the total picture or situation.