The ionospheric response, which is the sensitivity and delay of the electron content to the 270 day fluctuations of solar radiation has been theoretically analyzed. In the context of the present work the sensitivity is defined as the magnitude of the electron content fluctuation for a given change in solar flux, and the delay is defined as the timeshift of the response of the electron content to fluctuations in solar flux. Both the model in which the action of neutral winds on the F-2 layer is disregarded and that in which the wind effect is included as part of a positive feedback mechanism, are studied. It is shown that the neutral winds play a dominant role in the mentioned ionospheric response. The computed delays decrease with increasing solar activity in both models.