...the lifestyle of S. sciureus in the aspect of their diet and sociality. Sociality includes reproductive behavior, social behavior, and competition. S. sciureus are small, arboreal platyrrhines that are dispersed in north South America (Lima and Ferrari, 2003). The countries they are found in include Brazil, Columbia, French Guiana, Guyana, Suriname, and Venezuela (Goldschmidt et al., 2009). Over the past 40 years, they have become known as the second-most commonly used primate in laboratory studies. Squirrel monkeys are considered frugivorous and insectivorous, meaning they mainly consume fruits and insects (Lima...
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... b. Logistics c. Brand popularity d. Market demand e. Price f. Availability in different quantities g. Profit margin h. Promotion i. Packaging 6. On what basis do you buy the lubricants? a. Based on company preference. b. Customer preference. c. Original Equipment Manufacturers (OEM) recommendation. d. Popularity in your area. 7. Do you use lubricant from your service station or customer brings or both? 8. Does the company of lubricant you use provide any gifts/ incentives/ promotional offers to you? 9. Do you provide any gifts or incentives to your customers? 10. Do you get lubricants on credit from the company/ distributor/ big retailer shop? 11. Are you aware of the schemes related to MAK? 12. Why do users opt less for premium products as compare to other product under same category a) Doesn’t know the benefits on premium products b) Price c) They feel them as same d) Doesn’t want a change e) Any other 13. Which particular brand vehicle normally visits your garage? 14. How many units do you consume for servicing on an average per month? 15. Does consumption of lubricants vary from month to month? 16. Does packaging have an impact on the sales of a product? 17. What do you suggest/recommend MAK in order to increase its use and consumption in authorized service...
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...Microeconomics Topics covered I. Optimal choice II. Comparative statistics 1. You receive from your parents 180 € per month to cover living expenses. You spend the entire amount on pizzas P and phone calls C . Your utility function is represented by the following expression: U P; C 3P 2 C 100 , where P is the number of pizzas consumed, and C is the number of hours of phone calls. Each pizza costs 8€, whereas the price of one hour of phone calls is 2€. a) How many pizzas and hours of phone calls will you consume? Now your parents no longer send you the 180€ per month. Instead, they send you 20 coupons that you can trade for one pizza each, plus a 20€ check per month. You cannot use the coupons to pay your phone bill. b) Has your optimal bundle changed? Justify without doing any additional calculations. If so, what is your new optimal bundle? c) Are you better off or worse off than before? Justify you answer by intuition and calculations. d) Redo part b) if what your parents send you is 5 coupons plus a 140-€ check per month. e) Go back to your initial situation (your parents were giving you 180 € cash) and suppose that they decided to increase your allowance to 200 €. How would this affect your demand for pizzas? And your optimal choice? 2. Madalena considers peach juice and orange juice to be perfect substitutes. She spends 5€ a month on these two goods. Initially, the price of peach juice is 1€/L and the price of orange juice is 1.25€/L. Then...
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...Solutions to tutorial questions on Chapter 3 1. Draw indifference curves that represent the following individuals’ preferences for hamburgers and soft drinks. Indicate the direction in which the individuals’ satisfaction (or utility) is increasing. a. Joe has convex preferences and dislikes both hamburgers and soft drinks. Since Joe dislikes both goods, he prefers less to more, and his satisfaction is increasing in the direction of the origin. Convexity of preferences implies his indifference curves will have the normal shape in that they are bowed towards the direction of increasing satisfaction. Convexity also implies that given any two bundles between which the Joe is indifferent, any linear combination of the two bundles will be in the preferred set, or will leave him at least as well off. This is true of the indifference curves shown in the diagram. b. Jane loves hamburgers and dislikes soft drinks. If she is served a soft drink, she will pour it down the drain rather than drink it. Since Jane can freely dispose of the soft drink if it is given to her, she considers it to be a neutral good. This means she does not care about soft drinks one way or the other. With hamburgers on the vertical axis, her indifference curves are horizontal lines. Her satisfaction increases in the upward direction. c. Bob loves hamburgers and dislikes soft drinks. If he is served a soft drink, he will drink it to be polite. Since Bob will drink the soft...
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...the market for his/her end-use to satisfy wants is called a consumer. Example- Mr. A purchases pen from market and Mrs. X got her dress dry-cleaned from a shop, in this case Mr. A and Mrs. X both are the consumers as Mr. A is purchasing a good for final use and Mrs. X a final user of the service available in the market. A rational consumer is a consumer who seeks to maximise utility or satisfaction in spending his income. Now let us study about consumer behaviour. Consumer behaviour is the behaviour of individuals when buying goods and services for their own use or for private consumption. The consumer has to decide on how much of each of the different goods he would like to consume and the choice of the consumer depends on the alternatives that are available to him and on his tastes and preferences regarding those alternatives. Accordingly, the economists study the two aspects of consumer behaviour. First, on what basis a rational consumer allocates the limited income between different goods and services the consumer desires. Of course, the objective behind the allocation is maximisation of satisfaction. Technically, it is called consumer’s equilibrium. Second, what is the reaction of a consumer to change in price of a good or a service he intends to buy? How does he usually react? Does he buy more? Does he buy less? Does he buy the same quantity? The generalisation of behaviour in this respect is called law of demand. Preliminary Notations and Assumptions...
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...Executive summary Advertisement campaign in relation to neoclassical theory of consumer, understanding what consumer behavior in terms of their wants and needs, not forgetting their personality, attitude, perception, is not only important to marketers whose main goal is to make profit but also to the government and its various regulatory agencies and the whole society. Such a theory is usually based on a consumer image as one of the highest rational decision maker that widely seeks to maximize customer satisfaction by way of providing an informed and reasoned analysis of utility and value. The consumer behavior is known to create strong assumptions which are based on both computational and informational bases of consumer theory. Contents 1.0 Description of the advertisement 3 2.0 Market Group 4 3.0 Problem recognition 5 4.0 Neoclassical consumer theory 6 5.0 Application of neoclassical theory of consumer 8 6.0 Conclusion 9 7.0 Work cited 10 Consumer Behavior 1.0 Description of the advertisement The advertising campaign is for an airline company QANTAS that has its base in Australia. It has a picture of a young girl having fun while watching a movie using the toy movie machine. The airline is targeting plane travelers by promising to offer the best flight entertainment. This according to the airline will be able to have them enjoy their journey through entertainment and not be able to realize how long the journey is. The airline...
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...744 | 2. Interpret the b3 estimate based on its magnitude and sign. Do you think streaming service and download service are complementary or substitute to each other? If we consume complementary goods together, utility for consuming tends to be larger than sum of utilities for consuming each goods respectively. For example, if we consume coke and chicken together, our utility will be bigger than sum of utilities from consuming coke and chicken respectively. On the other hand, if we consume substitute goods, utility tends to be smaller than sum of utilities for respective consumption. b3 is in the equation about U3 which is utility for bundle of streaming and downloads. So we can consider b3 as complementary or substitute quotient. In this model, b3 was estimated as negative number(-0.460). It means that U3 (utility for consuming ‘streaming service’ and ‘download service’ together) is smaller than sum of U2 and U3 (sum of utilities for consuming ‘streaming only service’ and ‘download only service’ respectively) by 0.460 when we put aside the price. So I think ‘streaming service’ and ‘download service’ are substitute to each other. 3. The data are from ourselves. Do you think the estimation resulting from #1 makes sense? (i.e., are the results somehow consistent with our preference?). Please briefly explain When we compare the V1, V2, V3 (in which we exclude the epsilon 1, 2, 3 from U1, U2, U3), we can see that V1 is always larger than V2, V3. It means that epsilon...
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...Marketing Research Group Assignment “Questionnaire on soft drinks’ preferences in regards to their retail shopping…” Today soft drinks don’t only reduce the thirst but also have become style and fashion. The purpose of this questionnaire is to determine household preferences in regards to their retail shopping for soft drinks… 1. Do you consume soft drinks? o Yes o No If yes, continue with question 2, if no, return this questionnaire 2. Gender o Male o Female 3. Which of the following best describes your age? o 16-25 o 26-30 o 31-40 o 41-50+ 4. How often do you consume soft drinks? o Daily o Weekly o Monthly o Occasionally 5. How many persons are involved in the consumption of soft drinks with you? o 1 person o 2 persons o 3 persons o 4 persons o More than 4 persons 6. In general, who is usually involved more in the purchase decision? (You may choose more than one answer) o You o Partner o Father o Mother o Children o All of the above o Other...............................(Please Specify) 7. Which of the following soft drinks do you prefer more? (You may choose more than one answer) o Pepsi o Coke o Diet Pepsi o Diet Coke o 7-up o Sprite o Diet 7-up o Diet Sprite o Fanta o Miranda o Schweppes o Fayrouz o Other...............................(Please Specify) 8. How do you usually buy soft drinks? o By car o On foot o Order home delivery o Other.................................
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...In microeconomics, the theory of consumer choice relates preferences (for the consumption of both goods and services) to consumption expenditures; ultimately, this relationship between preferences and consumption expenditures is used to relate preferences to consumer demand curves. The link between personal preferences, consumption, and the demand curve is one of the most closely studied relations in economics. Consumer choice theory is a way of analyzing how consumers may achieve equilibrium between preferences and expenditures by maximizing utility as subject to consumer budget constraints. Preferences are the desires by each individual for the consumption of goods and services that translate into choices based on income or wealth for purchases of goods and services to be combined with the consumer's time to define consumption activities. Consumption is separated from production, logically, because two different consumers are involved. In the first case consumption is by the primary individual; in the second case, a producer might make something that he would not consume himself. Therefore, different motivations and abilities are involved. The models that make up consumer theory are used to represent prospectively observable demand patterns for an individual buyer on the hypothesis of constrained optimization. Prominent variables used to explain the rate at which the good is purchased (demanded) are the price per unit of that good, prices of related goods, and wealth of the...
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...Business Research Methods Project On Conjoint Analysis Identifying Key Product Attributes & Product Designing of Mobile Phones Abstract This paper intends to explore consumer preferences for Mobile phones attributes, to determine the optimal combination for consumers, and to provide manufacturers a reference for their marketing strategies. In this study, consumers were divided into several demographics (age, gender, occupation) and individual preferences for various mobile phone attributes were compared. Consumers showed significant demographical difference in their preferences over the combination of mobile phones attributes. The various combination of mobile phone attributes were grouped together. Subjects were asked to rank the 22 product profiles (Pair1 to Pair22) from the most to the least preferred. The variables Pref1 through Pref7 contain the IDs of the associated product profiles, that is, the card IDs. Subject 1, for example, liked pair13 most of all, so PREF1 has the value 13. Analysis of the data is a task that requires the use of command syntax—specifically, the CONJOINT command. The necessary command syntax has been provided in the file conjoint.sps. Literature Review N. Soutar et al. (2008), the study aims to examine its relevance in exploring the trade-offs followers make about leaders. The aim was to have an integrated understanding of leadership. The leaders were assessed on the eight leader attributes obtained from three focus groups...
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...PART II PRODUCERS, CONSUMERS, AND COMPETITIVE MARKETS CHAPTER 3 CONSUMER BEHAVIOR ------------------------------------------------- QUESTIONS FOR REVIEW 1. What are the four basic assumptions about individual preferences? Explain the significance or meaning of each. (1) Preferences are complete: this means that the consumer is able to compare and rank all possible baskets; (2) Preferences are transitive: this means that preferences are consistent, in that if bundle A is preferred to bundle B and bundle B is preferred to bundle C, then we should be able to conclude that bundle A is preferred to bundle C; (3) More is preferred to less: this means that all goods are desirable, and that the consumer will always prefer to have more of a good; (4) Diminishing marginal rate of substitution: this means that indifference curves are convex, and that the slope of the indifference curve increases (becomes less negative) as we move down along the curve. As a consumer moves down along her indifference curve she is willing to give up fewer units of the good on the vertical axis in exchange for one more unit of the good on the horizontal axis. This assumption also means that balanced market baskets are preferred to baskets that have a lot of one good and very little of the other good. 2. Can a set of indifference curves be upward sloping? If so, what would this tell you about the two goods? A set of indifference curves can be upward sloping if we violate assumption...
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...Since how many years you are selling that brand? 5. What do you look in the lubricants? a. Quality b. Logistics c. Brand popularity d. Market demand e. Price f. Availability in different quantities g. Profit margin h. Promotion i. Packaging 6. On what basis do you buy the lubricants? a. Based on company preference. b. Customer preference. c. Original Equipment Manufacturers (OEM) recommendation. d. Popularity in your area. 7. Do you use lubricant from your service station or customer brings or both? 8. Does the company of lubricant you use provide any gifts/ incentives/ promotional offers to you? 9. Do you provide any gifts or incentives to your customers? 10. Do you get lubricants on credit from the company/ distributor/ big retailer shop? 11. Are you aware of the schemes related to MAK? 12. Why do users opt less for premium products as compare to other product under same category a) Doesn’t know the benefits on premium products b) Price c) They feel them as same d) Doesn’t want a change e) Any other 13. Which particular brand vehicle normally visits your garage? 14. How many units do you consume for servicing on an average per month? 15. Does consumption of lubricants vary from month to month? 16. Does packaging have an impact on the sales of a product? 17. What do you suggest/recommend MAK in order to increase its use and consumption in authorized service...
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...consumption of ice cream in a week? a) Daily b) 2-4 times c) More than 4 times d) Once in the week 4.On what occasions, do you often consume ice cream? a) For refreshment b) Without any reason c) after having meal d) Other please specify: ____________________________________ 5.which factor affect your decision to buy ice cream? a) Taste b) Variety c) Brand Name d) Price with quantity e) Advertisement 6.Do advertisements affect your purchase? a) To greater extend b) Greater extend c) Neutral d) Extends e) Lesser extend 7.How you prefer omore on walls ice cream? a) Price b) availability c) brand name d) taste 8.Do you easily find Tiramisu and Strawberry cheesecake? a) Yes b) No 9.What do you think about the visibility of Tiramisu or Strawberry cheesecake? a) Above satisfactory b) Satisfactory c) Average d) Poor 10.How would you rate the sale of Tiramisu and Strawberry cheesecake? a) Above satisfactory b) Satisfactory c) Average d) Poor 11.How often do you purchase Tiramisu and Strawberry cheesecake? a) 1-2 unit a week b) 2-3 unit a week c) 3-4 unit a week d) 4-more unit a week 12.Which ice-cream brand you prefer? a) Omore Tiramisu and Strawberry cheesecake b) Walls Gold 13.What is the reason for your preference of Omore Tiramisu and Strawberry cheesecake? a) Better Quality b) Low Pricing c) Superior Packaging d) Greater Availability in the...
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...Price Theory Assignment 1 – Consumer Theory Click Link Below To Buy: http://hwaid.com/shop/price-theory-assignment-1-consumer-theory/ Answers are in Image Format Suppose that Sally’s preferences over baskets containing petrol (good x), and food (good y), are described by the utility function U (x, y) = xy + 100y. The marginal utilities for this function are, MUx = y and MUy = x + 100. Use Px to represent the price of petrol, Py to represent the price of food, and I to represent Sally’s income. Question 1: Find Sally’s petrol demand function, and Sally’s food demand function. (8 Marks) Question 2: From Sally’s perspective, is food a normal good, an inferior good, or neither normal nor inferior? Briefly explain with reference to your answer to question 1. (2 Marks) Question 3: Suppose that the price of petrol is $2 per litre, the price of food is $5 per kilogram, and Sally’s income is $400. What quantities of food and petrol does Sally consume? What level of utility does Sally receive from this consumption basket? (3 Marks) Question 4: Suppose that, as in question 3, the price of petrol is $2 per litre, the price of food is $5 per kilogram, and Sally’s income is $400. Now suppose that the government is considering two alternative policies to improve Sally’s welfare. Policy 1: Place a $0.4 per litre subsidy on petrol, reducing the price of petrol to $1.6 per litre. Policy 2: Give Sally a voucher that can be used to purchase food (but not petrol). What...
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...CONSUMER BEHAVIOR A consumer is the ultimate user of a product or service. The overall consumer market consists of all buyers of goods and services for personal or family use, more than 270 million people (including children) spending trillions of dollars in the United States as of the late 1990s. Consumer behavior essentially refers to how and why people make the purchase decisions they do. Marketers strive to understand this behavior so they can better formulate appropriate marketing stimuli that will result in increased sales and brand loyalty. There are a vast number of goods available for purchase, but consumers tend to attribute this volume to the industrial world's massive production capacity. Rather, the giant known as the marketing profession is responsible for the variety of goods on the market. The science of evaluating and influencing consumer behavior is foremost in determining which marketing efforts will be used and when. To understand consumer behavior, experts examine purchase decision processes, especially any particular triggers that compel consumers to buy a certain product. For example, one study revealed that the average shopper took less than 21 minutes to purchase groceries and covered only 23 percent of the store, giving marketers a very limited amount of time to influence consumers. And 59 percent of all supermarket purchases were unplanned. Marketers spend a great deal of time and money discovering what compels consumers to make such on-the-spot...
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