I run a new model for consumer behaviour topic but my Discriminant Analysis is below 0.4 . I want to know is the accepted value and how to increase it?
If your value of ".40" refers to the rate of correct classification of the model, then the question becomes, how does this value compare with that of a null model (e.g., just random assignment of cases to group)?
The answer to that depends on the number of groups (k) and the per-group sample size (n1, n2, ... nk). You could compute a base rate of successful classification in the absence of any model IVs by using the proportional chance criterion: C(prop) = Sum of (prop_i)^2, where "prop_i" is the proportion of total cases that are in group i; the summation is across all groups.
As an example, consider a 3-group data set, having sample sizes of 50, 40, and 30, respectively (total N = 120). The proportions are 50/120 = .417, 40/120 = .333, and 30/120 = .250. So, C(prop) = (.417)^2 + (.333)^2 + (.250)^2 = .17 + .11 + .06 = .34.
In other words, if we randomly assigned cases to groups, in the designated proportions (41.7% assigned to group 1, etc.), we'd expect to be correct 34% of the time.
Now, compare your model success to that level: 40% vs 34%. If these were the actual values, your model's success rate would be 6/34 = about 18% higher than the proportional chance criterion. Is that high enough of an improvement to be considered noteworthy? This is a judgment call. I've seen recommendations that the improvement due to the model should be at least 25%, but the consequences of misclassification obviously would be important to consider in such judgments.