Types of quantum field thories
In particle physics phenomenology a model is the specification of a physical theory, fundamentally of a quantum field theory, that reproduces aspects phenomenology, notably the fundamental physics observed in particle accelerators?.
The standard model of particle physics is, by default, the currently best model available, given the available experimental data.
Despite the success of this model, it is conceptually unsatisfactory in many ways and it is clear that it can be a roughly accurate description of reality not high above the currently experimentally available energy-scales. Therefore phenomenologists still “build” plenty of other models that refine the standard model in one way or other, being compatible with the present data, but making various other predictions for what should be observed at higher energies.
It is generally understood that models are approximations to reality. The proverbial saying goes:
Every model is wrong. But some models are useful.