...Gender and consumer behaviour Consumer buying behaviour can be influence by various factor, which included several major factor that could influence their buying behaviour while in engaging in buying decision. Therefore, these factor could be vary tremendously in terms of income, age, personal taste, as well as gender. By understanding consumer buying behaviour it will allows marketers making further process while in creating an appropriate marketing strategy aim on their consumers. Furthermore, it can be a foundation for marketers to develop a sense of awareness on the criteria that influence consumer buying decision making. In this analysis, it is to study the differences between the genders at a various level of buying decision. Among all these factor which will influence consumer buying behaviour. Gender is one of the major factor. Putrevu, (2001, p.1) stated that gender is one of the most common method while on segmenting criteria which used by nowadays marketers. This makes sense, by dividing gender into two male and female primary category, its makes marketers ease to identify and access into their market and at the same time it is large enough to be profitable. The differences between men and women is due to their diversity in socialization, biological and psychological factors that illustrate the differences on their behaviour at the various situations. When comes to decision making whether it is on shopping or eating, or perhaps in the aspect of personal or professional...
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...give great impact on firms’ activities. The factor includes political institution, policy and law. These elements usually influence company’s operation, thus, the enterprise should pay attention to several issues bellow: * Whether the political environment is stabilizing? * Will government policy influence laws that regulate or tax your business? * What is the government's position on marketing ethics? * What is the government's policy on the economy? * Does the government have a view on culture and religion? * Is the government involved in trading agreements such as EU, NAFTA, ASEAN, or others? While, are there any unveil fresh policies which will affect cosmetics industry in China? First, let’s focus on import tariff. Cosmetics general trade import tariff rate: 1. Lip cosmetics common tariff rate is 150%, most favored nation customs tariff is 10%, value added rate is 17%, the consumption rate is 30%. 2. Eye ophthalmic cosmetics common tariff rate is 150%, most favored nation customs tariff is 10%, value added rate is 17%, the consumption rate is 30%. 3. Point to (foot) armour cosmetics common tariff rate is 150%, most favored nation customs tariff is 15%, value added rate is 17%, the consumption rate is 30%. 4. Other cosmetics according to specific categories of different common tariff rate is 150%, most favored nation import tariff rate from 6.5% to 15% range, value added rate is 17%. Consumption rate is 30%. According to the information...
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...Consumer Behaviour 47 4 Demand and Supply 77 5 Equilibrium Price 103 6 Production 117 7 Cost and Revenue 143 8 Market Structure and Pricing 161 9 Marginal Productivity Theory of Distribution 183 10 Simple Theory oflncome Determination 205 11 229 Monetary Policy 12 Fiscal Policy 247 iii Chapter 1 Nature and Scope of Economics Introduction Economics is a social science which deals with human wants and their satisfaction. It is mainly concerned with the way in which a society chooses to employ its scarce resources which have alternative uses, for the production of goods for present and future consumption. Political economy is another name for economics. “Polis” in Greek means a State. The early writers used the term “Political Economy” for the management of the State. A person who runs a family is expected to make the best use of the income of the household. Similarly, the State is expected to get the maximum benefit for the society. Hence the term “Political Economy”. The existence of human wants is the starting point of all economic activity in the world. Unless we make efforts, we cannot satisfy wants. Hence, wants, efforts and satisfaction form the circle of economics. We may say economics is the science of wants. But in the real world, the means which satisfy our wants are limited, that is, there is scarcity of the means which satisfy our wants. Time and money are limited. And ...
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...economics, managerial economics. Basic concepts – wealth, welfare and scarcity. Basic tools of economics analysis (equations and functions, graphs and diagrams, slope and intercepts) Module 2 : Consumers Behaviour and Demand Marishallian Approach : Equi-marginal utility, Law of demand – Determinants of demand. Elasticity of demand and its measurement. Price – Income – Cross and Promotional elasticity of demand. Consumer’s Surplus. Hicksian Approach : Indifference curves – properties of Indifference Curve, Consumer’s Equilibrium, Price effect, Income effect and substitution effect – Derivation of demand from Price Consumption Curve (PCC) – Giffen’s paradox. Samuelson Approach : Revealed Preference Theory. Module 3 : Production and Cost Analysis Concept of production function : short run and long run – Cobb – Douglass production function. isoquants – iso-cost line – producer’s equilibrium. Law of variable proportion and Law of returns to scale – Economies of scale – Economies of scope. Concepts of costs : Money and real cost, Opportunity cost, Social cost, Private cost – Derivation of short run and long run cost curves– Learning curve. SECTION –II Module 4 : Theory of Firm : Concepts of revenue : Total Revenue, Average Revenue and Marginal Revenue – Relationship between TR, AR and MR under perfect and imperfect competition – AR, MR and elasticity. Objectives of a Firm – Analysis of Equilibrium of a firm : TC-TR Approach – MC-MR Approach – Break-Even Analysis. 2 Module 5 : Market...
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...GEOG 2210 S14 Dhurim Gjureci The Measure of Ecological Footprint in Hopes to Reduce Human Consumption on the Earths Resources To: Benjamin Bradshaw GEOG*2210 (DE) S14 Environment and Resources From: Dhurim Gjureci 0678764 Thursday, July 17, 2014 The Measure of Ecological Footprint in Hopes to Reduce Human Consumption on the Earths Resources 1 GEOG 2210 S14 Dhurim Gjureci The Measure of Ecological Footprint in Hopes to Reduce Human Consumption on the Earths Resources By: Dhurim Gjureci Table of Contents What is Ecological Footprint? How is Ecological Footprint Measured? The Current State of the Earth Canada’s Ecological Footprint The Importance of Knowing Our Ecological Footprint Reduction...
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...Thinking Like an Economist 7 Chapter 3 Interdependence and the Gains from Trade 10 Chapter 4 The Market Forces of Supply and Demand 13 Chapter 5 Elasticity and Its Application 20 Chapter 6 Supply, Demand, and Government Policies 26 Chapter 7 Consumers, Producers, and Efficiency of Market 31 Chapter 8 Application: The Costs of Taxation 35 Chapter 9 Application: International Trade 39 Chapter 10 Externalities 42 Chapter 11 Public Goods and Common Resources 45 Chapter 12 The Design of the Tax System 47 Chapter 13 The Costs of Production 49 Chapter 14 Firms in Competitive Markets 53 Chapter 15 Monopoly 57 Chapter 16 Monopolistic Competition 61 Chapter 17 Oligopoly 64 Chapter 18 The Markets for the Factors of Production 68 Chapter 19 Earnings and Discrimination 73 Chapter 20 Income Inequality and Poverty 76 Chapter 21 The Theory of Consumer Choice 79 Chapter 22 Frontiers of Microeconomics 82 Chapter 1 Ten Principles of Economics I. Significance * How people make decisions * How people interact * How the economy as a whole works II. Highlights The word economy comes from the Greek word oikonomos, which means "one who manages a household." A household faces many decisions, which means he/or she must allocate its scarce resources among its various members taking into account each member's abilities, efforts, and desires. No matter a household, or an economic, they have much in...
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...alternative course of action among various. Question 2. : - Contraction and extension of demand? Answer:-A variation in demand implies “extension” or “contraction” of demand. When with a fall in price more of a commodity is bought there is an extension of demand. Similarly, when a lesser quantity is demanded with a rise in price there is a contraction of demand. In short demand extends when the price falls and it contracts when the price rises. Both of the terms are technically used in stating the law of demand. Question 3. :-Opportunity cost / alternative cost? Answer:-It is measure in terms of the forgone benefits from the next best alternatives use of a given resources in simple words scarifies or loss of alternative use of a given resource is turn as an opportunity cost. The alternative or opportunity cost of one unit of product A is the amount of product B that has been sacrificed by allocating the resources to produce A rather than B. Question 4. :-Low of Demand? Answer:-According to Ceteris Paribus, “The higher the price of the commodity the smaller is the quantity demanded and lover the price larger the quantity demanded other things remain constant.” In other words the demand for a commodity extends (i.e., the demand rises) as the price falls and contracts (i.e., demands falls) as the price rises. Or briefly stated, the low of demand stresses that, other thing remaining unchanged, demand varies inversely with the price. ...
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...surround ourselves with valued material possessions as a matter of our lives taking course; a sense of linkage to the concrete and observable world external to ourselves permits us to obtain a sense of stability and continuity in an otherwise less stable existence.” Consumer Behaviour Consumer behaviour is a complex, multi-disciplinary theory contributed from a variety of social sciences. The microeconomic demand theory, the foundation theory of market economy, is focused on what prospect effect the changes in income and price has on demand under the prerequisite of stable preferences; it does not provide explanation of the dynamics of the many factors in between, for instance, what influence income and price changes has on preferences. The basic forces of consumer behaviours are emotions, motives as well as attitudes. The study of consumer behaviour focuses on these such as why a consumer buys, how a product is perceived, how the buying decision is taken, where and what a consumer wants to buy (Alvensledben, 1997). In a competitive market economy, this knowledge can influence the...
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...marketing decision-making. Explain why relationships are harder to establish in business-to-consumer situations than in business-to-business situations. Describe the scope and nature of psychology and sociology. Describe the scope and nature of anthropology. Describe the relationship of economics with the study of consumer behaviour. Explain the role of exchange in improving people’s welfare. Explain how the terms ‘luxury’ and ‘necessity’ relate to consumer behaviour. Introduction Customer Someone who makes the decision to buy a product 01-Blythe-Ch-01-Part-1.indd 3 Every day we buy things. We exchange our money for goods and services, for our own use and for the use of our families: we choose things we think will meet our needs on a day-to-day basis, and we occasionally make buying decisions which will affect our lives for years to come. At the same time, we make decisions about disposing of worn-out or used-up possessions. All these decisions and exchanges have implications for ourselves, our families, our friends, the environment, the businesses we buy from, the employees of those businesses, and so on. The key concept of marketing is customer centrality: we cannot ignore customer decision-making....
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...communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at-large. Goals are: 1. Attract new customers by promising superior value. 2. Keep and grow current customers by delivering satisfaction Marketing process: Needs: states of felt deprivation. Physical needs: Food, clothing, shelter, safety Social needs: Belonging, affection Individual needs: Learning, knowledge, self‐expression Wants: the form human needs take as shaped by culture and individual personality Demands: Human wants that are backed by buying power. Market offering: Some combinations of products, services, information or experience offered to a market to satisfy a need or want. Products: Persons, places, organizations, information, ideas. Services: Activity or benefit offered for sale that is essentially intangible and does not result in ownership. Brand experiences: “. . . dazzle their senses, touch their hearts, stimulate their minds.” Marketing Myopia: The mistake of paying more attention to the specific products a company offers than to the benefits and experiences produced by these products. They focus more on the wants and lose sight of the needs. Customer value and satisfaction: Care must be taken when setting expectations: If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Exchange: The act of obtaining a desired object from someone...
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...11 3.2 Illustrate the way in which market forces shape organisational responses using a range of examples pg.12 3.3 Judge how the business and cultural environments shape the behaviour of a selected organisation pg.13 4.1 Discuss the significance of international trade to UK business organisations pg.14 4.2 Analyse the impact of global factors on UK business organisations pg.15 4.3 Evaluate the impact of policies of the European Union on UK business organisations pg.15, 16 INTRODUCTION IN THIS ASSIGNEMENT I WILL INDENTIFY AND DISCUSS THE TYPES OF ORGANISATION, I WILL EXPLAIN THE RESPONSABILITIES OF ORGANISATION THE ECONOMIC SYSTE. I WILL SHOW THE KEY OBJECTIVES COMPETITION POLICY AND HOW THE MARKET STRUCTURES DETERMINE THE PRICING OF THE DECISIONS OF BUSINESS. I WILL ANALYSE THE IMPACT OF GLOBAL FACTORS ON UK BUSINESS ORGANISATIONS AND I WILL EVALUATE THE IMPACT OF THE POLICIES OF THE EUROPEAN UNION ON UK ORGANISATION. IN THE END I WILL MAKE CONCLUSION ABOUT THE STRATEGIES, METHODS OF BUSINESS ACTIVITES. MAIN BODY BUSINESS ENVIRONMENT DEFINITION The combination of internal and external factors that influence a company’s...
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...Results:………………………………………………………………………………….…………8 * Identification of Groups……………………………………………………………….9 * Preliminary Results…………………………………………………………………..10 * Invariance Testing……………………………………………………………………12 * Structural Modeling…………………………………………...……………………..14 Discussion………………………………………………………………………………….…….16 Conclusions………………………………………………………………………………………18 References……………………………………………………………………………………..…20 Abstracts In this paper, I analyze the market for organic products in eight European countries, based on differences in their respective value systems. With a significant sample of 8014 consumers, I first identify international segments in the European organic products market using the Values Theory. Then I apply the Theory of Planned Behavior to examine how European consumers use attitudes, subjective norms and perceived behavioral control to form their purchase intention for organic products. Results show that subjective norms are the main underlying factor driving consumer behavior concerning these products. This effect is higher for the group of countries whose citizens score higher on Schwartz's value scale. In this segment of countries, people are more likely to be affected by what others think, which means that the best approach is to increase social awareness of the relevance of purchasing organic products. Organic products represent a potentially profitable opportunity for companies with an international horizon. Results are also useful for consumers and public...
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...|Marketing |[pic]process by which companies create value for customers and build strong customer | | |relationships to capture value from customers in return | |[pic]Market offerings |[pic] | | |some combination of products, services, information, or experiences offered to a market to| | |satisfy a need or want | |[pic]Marketing myopia |[pic] | | |mistake of paying more attention to the specific products a company offers that to the | | |benefits and experiences produced by these products | |[pic]Exchange |[pic] | | |act of obtaining a desired object from someone by offering something in return | |[pic]Markets |[pic]set of actual and potential buyers of a product or service | |[pic]Marketing management |[pic] ...
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...1 1. What is meant by price elasticity of demand? [2marks] Price elasticity of demand is a responsiveness of quantity demanded due to change in price of a commodity. 2. What is meant by price elasticity of demand? [5marks] Price elasticity of demand is a responsiveness of quantity demanded due to change in price of a commodity. It can be calculated using a formula. % CHANGE IN QUANTITY DEMANDED PED = % CHANGE IN PRICE There are five types of elasticity where the value ranges from 0 to infinity. They are; Perfectly inelastic ( elasticity value is equal to 0) Perfectly elastic ( elasticity value is equal to infinity) Elastic ( elasticity value is greater than 1) Inelastic ( elasticity value is less than 1) Unitary elastic ( elasticity value is equal to 1) Note: - Candidates can include simple diagrams of different types of elasticity. 3. Discuss why the price elasticity of demand for the items mentioned in the article might differ. [5marks] Note: - Here, no need of definition since in part –c definition of elasticity has been given) The items mentioned in the article are clothing and footwear, together with certain perfumes, hair-styles, cell-phones and household appliances. First of all clothing and foot wear can be classified as a basic human need where people find very difficult to live without that. This means any person is ready to buy these products at any price since they did not have a choice. So, these products are inelastic product where...
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...Understand the impact of purchase involvement on the decision process. 2) Know the various types of decision making used by consumers. 3) Know what problem recognition is, how it occurs, and how it fits into the consumer decision-making process. 4) Know how to measure problem recognition. 5) Understand how marketing strategy can be developed based on problem recognition. SUMMARY Consumer decision making becomes more extensive and complex as purchase involvement increases. The lowest level of purchase involvement is represented by nominal decisions: a problem is recognized, long-term memory provides a single preferred brand, that brand is purchased, and only limited postpurchase evaluation occurs. As one moves from limited decision making toward extended decision making, information search increases, alternative evaluation becomes more extensive and complex, and postpurchase evaluation becomes more thorough. Problem recognition involves the existence of a discrepancy between the consumer’s desired state (what the consumer would like) and the actual state (what the consumer perceives as already existing). Both the desired state and the actual state are influenced by the consumer’s lifestyle and current situation. If the discrepancy between these two states is sufficiently large and important, the consumer will begin to search for a solution to the problem. A number of factors beyond the control of the marketing manager can affect problem recognition. The...
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