...OBSERVATION OF CONSUMER BUYING BEHAVIOUR CATEGORY #1: Multi Brand Store SHOP: Croma, Himalaya Mall, Ahmedabad The retail shop had a wide range of products including electronic items, mobile phones and home appliances. The section dedicated to mobile phones featured handsets of major brands like Apple, Samsung, Nokia, HTC, Sony and Motorola. Customers had a wide range of models to choose from in each of these brands. Individual brands were segregated from each other and within most brands the price of handsets varied considerably ranging from a few thousands for the low end phones to nearly half a lakh for the latest models of the premium brands. We observed the buying behaviour of some customers in the showroom, summary of which is given below: * Some college students had arrived in groups. They dabbled with the latest models of different brands. They appeared to be cognizant of most of the newer features in the brands they were looking at. However, it was quite clear that they had no intention of buying anything. They did not enquire about the prices, spent not more than 5 minutes on a particular brand and mostly seemed interested in the cursory features of the handsets like the latest messenger, camera and games. * We saw a middle class family consisting of a middle aged couple and their two teenage sons looking for a phone for the lady who seemed to be a housewife. The sons were more interested in checking out the latest models of the mobile phones and wanted to purchase a...
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...Outline and evaluate the multi store memory model of memory The multi-store model of memory as proposed by Atkinson and shiffrin states that memory has 3 stores (sensory memory, short term memory and long term memory) and 2 processes (attention and rehearsal). Information enters the sensory memory through our senses according to the environmental stimuli. This information is register for a brief second and then decays unless we pass attention to it and when we do it moves to the short term memory. The sensory memory has a high capacity, short duration and it sensory buffers. The short term memory contains small amount of information. According to the digit span test by miller capacity is just 7+/-2 (limited). At this stage information is encodes acoustically through sound, memory traces are fragile with duration of 18-20 secs. Maintenance rehearsal (by repetition) within the short term memory allows information to be refreshed and recycled for us to be able to use it. This Information is then passed through elaborative rehearsal (by meaning) to the long term memory. The capacity for the LTM is unlimited, it encodes information semantically and duration lasts from an hour to a lifetime. The multi store memory has three features: It has 3 unitary stores, it is simplistic & well-structured and it moves in a linear. Evaluation There is support from neurological case studies. Since the MSM claims that the STM and LTM are in two separate stores evidence can be found in...
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...Psychology AS Level notes COGNITIVE PSYCHOLOGY- MODELS OF MEMORY The multi- store model (Atkinson and Shiffrin) SENSORY MEMORY- EVIDENCE FOR SENSORY MEMORY IS SPERLING • Sperling showed grid of letters for less than a second- 4 items were recalled on average. • Encoding= raw from the senses • Capacity= 4 items • Duration= around 2 seconds SHORT TERM MEMORY- • Encoding (Conrad)= acoustic • Capacity (Miller)= 7 +/ 2 items • Duration (Peterson and Peterson)= less than 30 seconds LONG TERM MEMORY- • Encoding (Baddelely)= semantic • Capacity= unlimited • Duration (Bahrik)= up to a lifetime EVALUATION OF MULTI STORE MODEL: STRENGTHS- • Glanzer and Cunitz read out a list of words to prticipants and asked them to recall as many as possible. They found participants recalled more words from the start (primacy) and the end (recency) of the list. This supports the idea of LTM and STM being two unitary stores as first words were in the LTM at time of recall and the last words were in the STM. • Case study evidence- cases of patients who have suffered brain damage to either their hippocampus and have memory deficits. The victim lost the ability to form new long term memories, but he had normal functioning STM but anything after 30 seconds was completely forgotten. He could remember memories prior to brain damage, • Brain scanning research-MRI scans show different parts of the brain being used when certain tasks were carried out. WEAKNESSES- • It does not...
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...format in which info is stored in the various memory stores. Capacity – The amount of info that can be held in a memory store. Duration- the length of time info can be held in memory STM – coding is acoustic Capacity between 5 and 9 Duration between 18 and 30 seconds LTM – coding is mainly sematic Unlimited capacity Stores memory up to life time Multi store model – representation of how memory works in terms of three stores – sensory register- STM – LTM Describes how info is transferred from one store to another , how it is remembered and forgotten Multi- store model Atkinson and Shiffrin’s ( 1968 , 1971) Three stores Sensory register Stimulus from environment will pass into sensory register Main stores are iconic memory ( visual memory ) ( coded visually ) Echoic memory ( sound memory ) ( coded acoustically ) Memory lasts only briefly duration is less than half a second High capacity Key processes is paying attention Short term memory limited capacity capacity is between 5 and 9 items info is coded acoustically lasts about 30 secs unless rehearsed maintenance rehearsal – occurs when we repeat material if rehearsed long enough it will go into the LTM Long Term Memory capacity is unlimited memory can last many years When we want to recall memory it has to be transferred back into STM by retrieval. Evaluation + Baddeley research shows STM and LTM are stored...
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...breads, gourmet soups and efficient service. * Panera’s Mission: “A loaf of bread in every arm.” * Panera’s Strategy: For a new franchise like Panera is not easy to be successful within a very short time. But their strategy was to understand the long term trends at play and getting the organization ready to respond to it. They were very careful in terms of responding according to the need of the customers. That’s why before customers starts complaining about trans fat, Panera bread voluntarily eliminate it from the menu. So their strategy is hitting the bulls’ eye. Question 2: How well has Ron Shaich utilized the open system model of organizations in moving Panera Bread Company forward in its competitive environment? We know, an open system is a system which constantly interacts with its environment. In business, the open system model focuses on the impact of external factors in an organization. This system regularly exchanges feedback with its external environment. In an open system, inputs, processes, outputs, goals, assessment...
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...Table of Contents Table of Figures 2 Executive summary 3 Introduction 4 Purpose of Report 4 The case in context 4 Case Evaluation 5 Problems Identified and Causes 6 Recommendations 7 Recommended approach 7 Selection Criteria 9 Recommended steps 14 The project evaluation process 14 The project evaluation report 17 Final Conclusion 18 Bibliography 19 Table of Figures Figure 1: Project Evaluation Process (Gray, 2011) 9 Figure 2: Typical cost evaluation and approval cycle 11 Figure 3: Sample selection questions used in practice (Project Management The Managerical Process 5th Edition) 12 Figure 4: Weighted Criteria Table 13 Figure 5: Project Screening Matrix 14 Executive summary Polk County is a struggling county, with a number challenges, including infrastructure challenges mostly dating back five years and more. The budget is a major contributing factor that has resulted in the deterioration of infrastructure. However, the lack of adequate leadership, an effective operational and structural strategy has not helped alleviate the current deteriorating circumstances of the county. A new state senator has recently been appointed, with a very clear strategic objective of economic development. However, the lack of site inspections of structures and inadequate maintenance of infrastructures has opened the door for possible legal exposure should a disaster occur. JR has identified three key projects required to improve current road...
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...Abstract Despite placing items in virtual shopping carts, online shoppers frequently abandon them —an issue that perplexes online retailers and has yet to be explained by scholars. Here, we identify key drivers to online cart abandonment and suggest cognitive and behavioral reasons for this non-buyer behavior. We show that the factors influencing consumer online search, consideration, and evaluation play a larger role in cart abandonment than factors at the purchase decision stage. In particular, many customers use online carts for entertainment or as a shopping research and organizational tool, which may induce them to buy at a later session or via another channel. Our framework extends theories of online buyer and non-buyer behavior while revealing new inhibitors to buying in the Internet era. The findings offer scholars a broad explanation of consumer motivations for cart aban- donment. For retailers, the authors provide suggestions to improve purchase conversion rates and multi-channel management. Keywords Online shopping cart abandonment . Online buyer behavior theory. E-tail .E-commerce To more fully understand buyer behavior, it is crucial to also examine consumer “non-buying” behavior. Non- buying behavior is especially apparent in an online retailing context, where many shoppers place items in their virtual shopping carts yet do not complete the purchase—thereby abandoning their cart. Known as virtual or online shopping cart abandonment, we define this behavior as...
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...methods and critical skills in thinking are still lacking; yet they are ideal for the maximization of the cost-effectiveness and quality of health care (Camiletti, & Huffman, 1998). The Center for Disease Control reported that between 1998 and 2008 a total of 33 outbreaks of patient to patient transmission of HBV or HCV due to breaches of infection control by health care personal (http://www.cdc.gov/injectionsafety/CDCsRole.html1). More than 60,000 patients were at risk and 448 patients acquired with HBV or HCV. The disease transmission was primarily from lapses in aseptic technique, the reuse of syringes and contamination of medications that were multi-dose vials. In 2001(Luby, 2001) The World Health Organization reported the single largest outbreak that resulted in 133 patients infected with HBV or HCV due to the reuse of needles and multi-dose vials on multiple patients for sedation. The purpose of this course project is it to formulate a plan to reduce or prevent the transmission of infections due to unsafe handling and administration of medications. Forming a medication...
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...Name | Aim | As Psychology Key Studies – Cognitive As Psychology Key Studies – Cognitive Method | Findings | Conclusion | Evaluation | Milner et al1957 | To see where STM is stored | HM Who suffered from frequent epilepsy, had his hippocampus removed | Could not form new LTM. Reading a book without realising he read it before | * | * | Peterson & Peterson1959 | Duration of S/LTM | Pps were shown nonsense trigram e.g. NHB and had different time intervals 3, 6, 9…18. Distraction task was to count back in 3s from a given number | The longer the interval, the harder it is to remember i.e. 3 was the easiest and 18 the hardest | When rehearsal is prevented, very little can stay in STM for over 18 seconds | * Reliable – Lab experiment * Lacks ecological validity as nonsense trigrams are artificial * Pps saw many different trigrams and may get mixed up making only the 1st one realistic | Bahrick et al1975 | Duration of LTM and to study VLTM | Asked pps to name students from year book through name recall or photo recognition | It is weaker as you get older but also depending on the way of recall e.g. name or photo etc. | The study shows evidence of VLTMs in a real life setting. Recognition is better recall; so there may be a huge store of info. It’s not always easy to access but you may require help to get to it | * High ecological validity – field experiment * Hard to control all variables – less reliable * This type of info may be rehearsed. * Cannot...
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...available in Inventory management evolving very rapidly over a period of time, which can be used for performing different functions of meeting the customer satisfaction and helping the firms to achieve highly efficient SCM and in turn increase their profit margin. Not just that Inventory management systems have capability of meeting the uncertainty of demand by providing planned and effective way countering these uncertainties. This articles also discuss the critical point of inventory being a necessary evil i.e. with inventory firms have to bear certain cost but without it they can’t beat the demand uncertainties. The current models available however have discussed various issues related with the inventory management in real world but models are evolving to get rid of obsolescence and be competitive. There is lot of potential locked up in these models which can change the way managements make decisions in today’s world. Thus there is scope for applying systems thinking methodology this area and bring out synergies in different applications of Inventory management. Keywords: Inventory Management; Uncertainty of demand; SCM(Supply chain management) . Introduction Problem Definition: The research tries to review the status of Inventory management research available in different endeavors of management of businesses. Further, it tries to identify applications that have further scope for research. After that this article suggests methodologies and methods...
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...* * * * * Contents page 2. introduction and situation analysis 3. the 3 c’s 5. the 4 p’s 6. push and pull strategy and e-marketing channels, vehicles and platforms 7. the 4 S’s of the web marketing mix 8. objectives and strategies and ecommerce model 9. market research 12. developed ideas and conclusion 13. references and appendices * Introduction Through element one of this report, there will be research, exploration and evaluation into French Connections current multi-channel strategy. It will show the commercial benefits of an onmichannel marketing plan and how it can make French Connection a more commercialized business with greater commercial benefits. It will also look into French Connections multi-channel objectives and strategies and identify the means, mode and opportunities to develop an Omni-channel strategy. French Connections Situation Analysis * The 3 C’s Customer Profile Charlotte McCormack is 25 and studied teaching at Bath Spa University. She works at a primary school in Cardiff. She lives with her long term boyfriend, Daniel, who works as a sports psychologist. She prefers to go into store rather than shopping online. She likes casual clean style pieces that are easy to wear but extremely stylish. She always makes time to work out. She has a healthy eating, organic lifestyle and likes to make juices for breakfast. She comes from an upper/middle class background...
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...Rationale for choosing ‘Fairtrade UK sales show 12% increase’ The decision to analyse this newspaper article ‘Fairtrade UK sales show 12% increase’ from the Financial Times is because it encourages further analysis of consumer behaviour and aids, understanding many of the concepts and models that are core to consumer behaviour. The article reports that consumers in the UK are increasingly purchasing Fair-trade products, citing a 12% rise in 2011 from 2010. Consumers are more prepared to spend their money to help ensure a better deal for foreign farmers and prevent their exploitation and their very motivation behind this demonstrates many of the core concepts of consumer behaviour. The article provides the background information that the overall market growth for grocery products stood at around 5% and suggests that this market growth isn’t sustainable and also suggests that consumers will continue to increase their purchases of Fair-trade products despite increasing financials hardship amongst UK consumers. The article invites analysis of how consumer’s desire for ethically sourced products is being tapped into by companies and what is motivating the purchase decisions of these consumers. It also offers an insight into the organic food products market, which has seen sales fall year on year for the last 3 years. This essay illustrates how by applying consumer behaviour theory to the facts reported in the article, understanding of the consumer is greatly improved. The essay...
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...Chapter 7 1. An attitude is a lasting, general evaluation of people (including oneself), objects, advertisements, or issues. 2. The functional theory of attitudes was initially developed to explain how attitudes facilitate social behavior. 3. The knowledge function of attitudes applies when a person is in an ambiguous situation and needs order, structure, or meaning. 4. Which of the following attitude functions is associated with a focus on particular social identities and lifestyles (e.g., “What sort of man reads Playboy)? Value-expressive 5. What do the “A, B, Cs” of the ABC model of attitudes stand for? Affect, behavior, and cognition 6. According to the basic of ABC model of attitudes, _____ refers to the beliefs a consumer has about an attitude object. Cognition 7. What is the first step in the standard learning theory hierarchy approach? Cognition 8. The _____ hierarchy assumes the consumer does not initially have a strong preference from one brand over another. Instead, he acts on the basis of limited knowledge and then forms an evaluation only after the products has been purchased or used. Low-involvement 9. According to the _______ hierarchy, the consumer considers purchases based on an attitude of hedonic consumption (such as how the product makes him or her feel or the fun its use will provide). Experiential 10. Researchers agree that there are various levels of commitment to an attitude. The highest level of involvement...
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...Current Business Model Value Chain Competitive Advantages Growth Imperative 5 6 7 8 9 Country Analysis – China Economic Overview CAGE Analysis Target Consumers Institutional Voids 10 11 12 13 Industry Analysis – Multi-Unit Restaurants Porter’s Five Forces Market Attractiveness Industry Trends Competitor Analysis 14 15 16 17 Recommendations 18 v Executive Brief v To reap the profits derived from possessing a strong brand image, quality customer service, and consistent company practices across its global operations, Levendary Café must enter China as a wholly owned enterprise, focus initially on an aggregation-arbitrage strategy, and reroute its Levendary China operations to a new arm of its managerial hierarchy. Thus far, Levendary China has suffered from a scattered brand reputation. In a rush to open as many stores as possible, Levendary Café in China has relied upon a pure adaptation strategy, which has fragmented its carefully curated company image. If the company wants to regain full control of its branding, it should only consider establishing wholly-owned operations to avoid losing further control. By turning to an aggregation-arbitrage strategy, Levendary Café can turn also around its profitability by creating economies of scale among its stores and taking advantage of Chinese consumers’ willingness to pay premiums for Western food. An aggregation-arbitrage strategy will transform Chinese store operations...
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...ANSWER TO QUESTIONS: 1. How would a consumer’s level of involvement, need for cognition, and level of information search affect the purchase of a new car? THEORY: The consumer buying decision process is a five-stage purchase decision process which includes problem recognition, information search, evaluation of alternatives, purchase, and post-purchase evaluation. The problem recognition occurs when a buyer becomes aware of a difference between a desired state and an actual condition.After the consumer becomes aware of the problem or need, he or she searches for information about products that will help resolve the problem or satisfy the need. Repetition, a technique well known to advertisers, increases consumers’ learning. Repetition eventually may cause wear-out, meaning consumers pay less attention to the commercial and respond to it lessfavourably than they did at first. A successful information search within a product category yields a consideration set (aka evoked set), which is a group of brands that the buyer views as possible alternatives.Purchase selection is based on the outcome of the evaluation stage and other dimensions.After purchase, the buyer begins to evaluate the product to ascertain if the actual performance meets expected levels. Cognitive dissonance is a buyer’s doubts that arise shortly after a purchase about whether it was the right decision. REALISTIC: During the daily using a car or a public transportation, he will realize if he need to buy a new...
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