Search results for: consumer information disclosure

Authors: I. Gupta, N. Setia

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Introduction. Buyer conduct is a progression of practices or examples that buyers pursue before making a buy. It begins when the shopper ends up mindful of a need or wish for an item, at that point finishes up with the buying exchange. Business visionaries can't generally simply shake hands with their intended interest group people and become more acquainted with them. Research is often necessary, so every organization primarily involves doing continuous research to understand and satisfy consumer needs pattern. Aims and Objectives: The aim of the present study is to examine the different behaviors of the consumer, including pre-purchase, purchase, and post-purchase behavior. Materials and Methods: In order to get results, face to face interview held with 80 people which comprise a larger part of female individuals having upper as well as middle-class status. The prime source of data collection was primary. However, the study has also used the theoretical contribution of many researchers in their respective field. Results: Majority of the respondents were females (70%) from the age group of 20-50. The collected data was analyzed through hypothesis testing statistical techniques such as correlation analysis, single regression analysis, and ANOVA which has rejected the null hypothesis that there is no relation between researching the consumer behavior at different stages and organizational performance. The real finding of this study is that simply focusing on the buying part isn't enough to gain profits and fame, however, understanding the pre, buy and post-buy behavior of consumer performs a huge role in organization success. The outcomes demonstrated that the organization, which deals with the three phases of research of purchasing conduct is able to establish a great brand image as compare to their competitors. Alongside, enterprises can observe customer conduct in a considerably more proficient manner. Conclusion: The analyses of consumer behavior presented in this study is an attempt to understand the factors affecting consumer purchasing behavior. This study has revealed that those corporations are more successful, which work on understanding buying behavior instead to just focus on the selling products. As a result, organizations perform good and grow rapidly because consumers are the one who can make or break the company. The interviews that were conducted face to face, clearly revealed that those organizations become at top-notch whom consumers are satisfied, not just with product but also with services of the company. The study is not targeting the particular class of audience; however, it brings out benefits to the masses, in particular to business organizations.

Keywords: consumer behavior, pre purchase, post purchase, consumer satisfaction

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Authors: M. Münch, R. Brandt

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Martensitic steels with an ultimate tensile strength beyond 2000 MPa are applied in the powertrain of vehicles due to their excellent fatigue strength and high creep resistance. However, the creep controlling mechanism in martensitic steels at ambient temperatures up to 423 K is not evident. The purpose of this study is to review the low temperature creep (LTC) behavior of martensitic steels at temperatures from 363 K to 523 K. Thus, the validity of a logarithmic creep law is reviewed and the stress and temperature dependence of the creep parameters α and β are revealed. Furthermore, creep tests are carried out, which include stepped changes in temperature or stress, respectively. On one hand, the change of the creep rate due to a temperature step provides information on the magnitude of the activation energy of the LTC controlling mechanism and on the other hand, the stress step approach provides information on the magnitude of the activation volume. The magnitude, the temperature dependency, and the stress dependency of both material specific activation parameters may deliver a significant contribution to the disclosure of the nature of the LTC rate controlling mechanism.

Keywords: activation parameters, creep mechanisms, high strength steels, low temperature creep

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Authors: Nnedum Obiajuru Anthony Ugochukwu, Emmanuel Ezechukwu

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This study was designed to investigate into Nigerian consumers’ preference for foreign products. Studies have discovered that Nigerian consumers like their counterparts in most developing countries have an insatiable preference for foreign products especially those from more technologically advanced countries (Okechukwu & Onyema, 1999; Agbonifoh & Elimimian, 1999). This attitude of the Nigerian consumers has resulted in many problems which challenge the industrial sector in Nigeria – lack of patronage resulting to, non-performing firms, endemic unemployment, underdeveloped industries and general lack of industrial growth. The major objective of this study is to investigate the reasons behind such attitude, and the factors that drive consumer preference for foreign products among Nigerian consumers. The study investigated specifically the psychological dimensions (personal values, self-concept, lifestyle and prestige), and demographic factors (age, gender, level of education, income and occupation) that impact consumers’ preference for imported products in Nigeria. The study was cross-sectional and used survey method to collect data from one hundred and eighty-six respondents among postgraduate and part-time students of Nnamdi Azikiwe University, Awka and consumers from Awka metropolis. The results of the study indicated that all the psychological variables used to measure consumer preference for foreign products were largely positive and significant determinants of consumer preference for foreign products. Demographic variables of age, gender, and income were not significant determinants of preference for foreign products. The results of the study, however, showed that level of education and occupation has the significant effect on consumer preference for foreign products.

Keywords: country of origin, xenocentrism, Nigeria, ethnocentrism, foreign products, consumer preference

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Authors: Kesya Terinda Natalie, Marcellina Natasha, Rosinta Ria Panggabean

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Purpose: Over the last few years, the company has been implementing sustainability practices to ensure business continuity. However, there are pros and cons regarding the impact of financial reports if companies provide non-financial reports. So this paper aims to prove what the effect of Sustainability Reporting (SR) has on company profitability, as well as things that can be considered as the decision-making of SR disclosure. Methodology: This paper uses the literature review method to describe the results of published articles concerning Sustainability Reporting and Profitability. This study links and analyzes the essence of 50 previous studies related to SR on company profitability, most of which were conducted in Asia. Therefore this research is limited to only 23 studies in Asia. Findings: Sustainability Reporting does not have a significant impact on company profitability because the SR quality of each company varies based on Agency & Legitimacy Theory considerations. Stakeholders are required to focus not only on profitability but also on the long-term of the company. Thus, it is found that SR is used by companies as a sustainable investment, which can improve overall company performance by reducing capital costs and generating positive company value in increasing reputation capital. Value: This paper focuses on how sustainability reporting affects company profitability, as well as things that can be considered as the decision-making of SR disclosure.

Keywords: sustainability reporting, profitability, agency theory, legitimacy theory

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Authors: Chen Yang, Jun Hu, Ping Li, Lili Xue

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Most companies pay careful attention to consumer feedback collection, so it is popular to find the ‘feedback’ button of all kinds of mobile apps. Yet it is much more changeling to analyze these feedback texts and to catch the true feelings of a consumer regarding either a problem or a complimentary of consumers who hands out the feedback. Especially to the Chinese content, it is possible that; in one context the Chinese feedback expresses positive feedback, but in the other context, the same Chinese feedback may be a negative one. For example, in Chinese, the feedback 'operating with loudness' works well with both refrigerator and stereo system. Apparently, this feedback towards a refrigerator shows negative feedback; however, the same feedback is positive towards a stereo system. By introducing Bradley, M. and Lang, P.'s Affective Norms for English Text (ANET) theory and Bucci W.’s Referential Activity (RA) theory, we, usability researchers at Pingan, are able to decipher the feedback and to find the hidden feelings behind the content. We subtract 2 disciplines ‘valence’ and ‘dominance’ out of 3 of ANET and 2 disciplines ‘concreteness’ and ‘specificity’ out of 4 of RA to organize our own rating system with a scale of 1 to 5 points. This rating system enables us to judge the feelings/emotion behind each feedback, and it works well with both single word/phrase and a whole paragraph. The result of the rating reflects the strength of the feeling/emotion of the consumer when he/she is typing the feedback. In our daily work, we first require a consumer to answer the net promoter score (NPS) before writing the feedback, so we can determine the feedback is positive or negative. Secondly, we code the feedback content according to company problematic list, which contains 200 problematic items. In this way, we are able to collect the data that how many feedbacks left by the consumer belong to one typical problem. Thirdly, we rate each feedback based on the rating system mentioned above to illustrate the strength of the feeling/emotion when our consumer writes the feedback. In this way, we actually obtain two kinds of data 1) the portion, which means how many feedbacks are ascribed into one problematic item and 2) the severity, how strong the negative feeling/emotion is when the consumer is writing this feedback. By crossing these two, and introducing the portion into X-axis and severity into Y-axis, we are able to find which typical problem gets the high score in both portion and severity. The higher the score of a problem has, the more urgent a problem is supposed to be solved as it means more people write stronger negative feelings in feedbacks regarding this problem. Moreover, by introducing hidden Markov model to program our rating system, we are able to computerize the scoring system and are able to process thousands of feedback in a short period of time, which is efficient and accurate enough for the industrial purpose.

Keywords: computerized scoring system, feeling/emotion of consumer feedback, referential activity, text mining

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Authors: Tithdanin Chav, Phichhang Ou

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The study is about the e-banking consumer behavior of five major banks in Cambodia. This work aims to examine the relationships among job relevance, trust, mobility, perceived ease of use, perceived usefulness, attitude toward using, and intention to use of internet banking and apps. Also, the research develops and tests a conceptual model of intention to use internet banking by integrating the Technology Acceptance Model (TAM) and job relevance, trust, and mobility which were supported by Theory of Reasoned Action (TRA) and Theory of Planned Behavior (TPB). The proposed model was tested using Structural Equation Modeling (SEM), which was processed by using SPSS and AMOS with a sample size of 250 e-banking users. The results showed that there is a significant positive relationship among variables and attitudes toward using internet banking, and apps are the most factor influencing consumers’ intention to use internet banking and apps with the importance level in SEM 0.82 accounted by 82%. Significantly, all six hypotheses were accepted.

Keywords: bank apps, consumer intention, internet banking, technology acceptance model, TAM

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Authors: Y. H. Wang, C. C. Hsieh

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Good service design can increase organization revenue and consumer satisfaction while reducing labor and time costs. The problems facing consumers in the original serve model for eyewear and optical industry includes the following issues: 1. Insufficient information on eyewear products 2. Passively dependent on recommendations, insufficient selection 3. Incomplete records on progression of vision conditions 4. Lack of complete customer records. This study investigates the case of Kobayashi Optical, applying the Theory of Inventive Problem Solving (TRIZ) to develop innovative solutions for eyewear and optical industry. Analysis results raise the following conclusions and management implications: In order to provide customers with improved professional information and recommendations, Kobayashi Optical is suggested to establish customer purchasing records. Overall service efficiency can be enhanced by applying data mining techniques to analyze past consumer preferences and purchase histories. Furthermore, Kobayashi Optical should continue to develop a 3D virtual trial service which can allow customers for easy browsing of different frame styles and colors. This 3D virtual trial service will save customer waiting times in during peak service times at stores.

Keywords: theory of inventive problem solving (TRIZ), service design, augmented reality (AR), eyewear and optical industry

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Authors: Ekaterina Malova

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Type 1 diabetes (T1D) is a chronic illness requiring immense lifestyle changes to reduce the chance of life-threatening complications. Moving to a college may be the first time for a young adult with T1D to take responsibility for all the aspects of their diabetes care. In addition, people with T1D constantly face stigmatization and discrimination as a result of their health condition, which puts additional pressure on young adults with T1D. Hence, omissions in diabetes self-care often occur during the time of transition to college when both the social and physical environment of young adults changes drastically and contribute to the fact that emerging young adults remain one of the age groups with the highest hemoglobin levels and poorest diabetes control. However, despite potential severe health risks caused by a lack of proper diabetes self-care, little is known about the experiences of emerging adults embarking on a higher education journey as this population. Thus, young adults with type 1 diabetes are a 'forgotten group,' meaning that their experiences are rarely addressed by researchers. Given that self-disclosure and information-seeking can be challenging for individuals with stigmatized illnesses, online platforms like YouTube have become a popular medium of self-disclosure and information-seeking for people living with T1D. Thus, this study aims to provide an analysis of experiences that college students with T1D choose to share with the general public online and explore the nature of information being communicated by college students with T1D to the online community in personal narratives posted on YouTube. A systematic approach was used to retrieve a video sample by searching YouTube with keywords 'type 1 diabetes' and 'college,' with results ordered by relevance. A total of 18 videos were saved. Video lengths ranged from 2 to 28 minutes. The data were coded using NVivo. Video transcripts were coded and analyzed utilizing the thematic analysis method. Three key themes emerged from thematic analysis: 1) Advice, 2) Personal experience, and 3) Things I wish everyone knew about T1D. In addition, Theme 1 was divided into subtopics to differentiate between the most common types of advice: 1) Overcoming stigma and b) Seeking social support. The identified themes indicate that two groups of the population can potentially benefit from watching students’ video testimonies: 1) lay public and 2) other students with T1D. Given that students in the videos reported a lack of T1D education in the lay public, such video narratives can serve important educational purposes and reduce health stigma, while perceived similarity and identification with students in the videos may facilitate the transition of health information to other individuals with T1D and positively affect their diabetes routine. Thus, online video narratives can potentially serve both educational and persuasive purposes, empowering students with T1D to stay in control of T1D while succeeding academically.

Keywords: type 1 diabetes, college students, health communication, transition period

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Authors: Sumit Banerjee, Chandan Kumar Chanda

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The paper presents allocation of active power losses and energy losses to consumers connected to radial distribution networks in a deregulated environment for loads of composite types. A detailed comparison among four algorithms, namely quadratic loss allocation, proportional loss allocation, pro rata loss allocation and exact loss allocation methods are presented. Quadratic and proportional loss allocations are based on identifying the active and reactive components of current in each branch and the losses are allocated to each consumer, pro rata loss allocation method is based on the load demand of each consumer and exact loss allocation method is based on the actual contribution of active power loss by each consumer. The effectiveness of the proposed comparison among four algorithms for composite load is demonstrated through an example.

Keywords: composite type, deregulation, loss allocation, radial distribution networks

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Authors: M. Chen, H. Lee, D. M. Weary

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China is the world’s largest egg producer, with more than 90% of production occurring in conventional cages. Cage-free housing systems offer the potential for improving hen welfare, but the growth of this system requires consumer demand, making it is important to understand consumers’ willingness to engage with cage-free eggs. Previous survey research indicates that the majority of Chinese consumers have a basic understanding of cage-free eggs and that some are willing to pay a price premium for these eggs. The aim of this research is to understand consumer behaviour, experience, and motivations when purchasing cage-free eggs in China. Purposive sampling will be used to select 20 participants from each of 2 groups: 1) consumers of cage-free eggs and 2) sales representatives who promote these eggs directly to consumers in supermarkets. This 4-month study will use methods of virtual ethnography to interact with participants repeatedly. Consumers will be asked to share their egg shopping, cooking, and eating experiences, and sales representatives will be asked to share their experiences promoting the eggs to consumers. Data collection will involve audio-recorded interviews, informal conversations (casual texts and calls), participant observation (video calling during shopping, cooking, and eating), and informant diaries (written reflections, photos, videos). All data (field notes, transcripts, diaries, photos, and videos) will be analyzed using Thematic Analysis. We expect that these will result in a nuanced understanding of consumer purchasing behaviour and motivation and will thus help identify strategies to promote higher animal welfare and cage-free egg products in China.

Keywords: animal welfare, cage-free eggs, China, consumer behaviour, ethnography

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Authors: Mokhlisur Rahman

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Consumers' understanding of the products depends on what levels of information the advertisement contains. Consumers' attitudes vary widely depending on factors such as their level of environmental awareness, their perception of the company's motives, and the perceived effectiveness of the advertising campaign. Considering the growing eco-consciousness among consumers and their concern for the environment, strategies for green advertising have become equally significant for companies to attract new consumers. It is important to understand consumers' habits of purchasing, knowledge, and attitudes regarding eco-friendly products depending on promotion because of the limitless options of the products in the market. Additionally, encouraging consumers to buy sustainable products requires a platform that can message the world that being a stakeholder in sustainability is possible if consumers show eco-friendly behavior on a larger scale. Social media platforms provide an excellent atmosphere to promote companies' sustainable efforts to be connected engagingly with their potential consumers. The unique strategies of green advertising use techniques to carry information and rewards for the consumers. This study aims to understand the consumer behavior and effectiveness of green advertising by experimenting in collaboration with three companies in promoting their eco-friendly products using green designs on the products. The experiment uses three sustainable personalized offerings, Nike shoes, H&M t-shirts, and Patagonia school bags. The experiment uses a pretest and posttest design. 300 randomly selected participants take part in this experiment and survey through Facebook, Twitter, and Instagram. Nike, H&M, and Patagonia share the post of the experiment on their social media homepages with a video advertisement for the three products. The consumers participate in a pre-experiment online survey before making a purchase decision to assess their attitudes and behavior toward eco-friendly products. The audio-only feature explains the product's information, like their use of recycled materials, their manufacturing methods, sustainable packaging, and their impact on the environment during the purchase while the consumer watches the product video. After making a purchase, consumers take a post-experiment survey to know their perception and behavior toward eco-friendly products. For the data analysis, descriptive statistical tools mean, standard deviation, and frequencies measure the pre- and post-experiment survey data. The inferential statistical tool paired sample t-test measures the difference in consumers' behavior and attitudes between pre-purchase and post-experiment survey results. This experiment provides consumers ample time to consider many aspects rather than impulses. This research provides valuable insights into how companies can adopt sustainable and eco-friendly products. The result set a target for the companies to achieve a sustainable production goal that ultimately supports companies' profit-making and promotes consumers' well-being. This empowers consumers to make informed choices about the products they purchase and support their companies of interest.

Keywords: green-advertising, sustainability, consumer-behavior, social media

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Authors: Safia Hasan Varachhia, Neela Badrie, Marsha Singh

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Genetic modification of food is an innovative technology that offers a host of benefits and advantages to consumers. Consumer attitudes towards GM food and GM technologies can be identified a major determinant in conditioning market force and encouraging policy makers and regulators to recognize the significance of consumer influence on the market. This study aimed to investigate and evaluate the extent of consumer awareness, knowledge, perception and acceptance of GM foods and its associated health risks and benefit in Trinidad and Tobago, West Indies. The specific objectives of this study were to (determine consumer awareness to GM foods, ascertain their perspectives on health and safety risks and ethical issues associated with GM foods and determine whether labeling of GM foods and ingredients will influence consumers’ willingness to purchase GM foods. A survey comprising of a questionnaire consisting of 40 questions, both open-ended and close-ended was administered to 240 shoppers in small, medium and large-scale supermarkets throughout Trinidad between April-May, 2015 using convenience sampling. This survey investigated consumer awareness, knowledge, perception and acceptance of GM foods and its associated health risks/benefits. The data was analyzed using SPSS 19.0 and Minitab 16.0. One-way ANOVA investigated the effects categories of supermarkets and knowledge scores on shoppers’ awareness, knowledge, perception and acceptance of GM foods. Linear Regression tested whether demographic variables (category of supermarket, age of consumer, level of were useful predictors of consumer’s knowledge of GM foods). More than half of respondents (64.3%) were aware of GM foods and GM technologies, 28.3% of consumers indicated the presence of GM foods in local supermarkets and 47.1% claimed to be knowledgeable of GM foods. Furthermore, significant associations (P < 0.05) were observed between demographic variables (age, income, and education), and consumer knowledge of GM foods. Also, significant differences (P < 0.05) were observed between demographic variables (education, gender, and income) and consumer knowledge of GM foods. In addition, age, education, gender and income (P < 0.05) were useful predictors of consumer knowledge of GM foods. There was a contradiction as whilst 35% of consumers considered GM foods safe for consumption, 70% of consumers were wary of the unknown health risks of GM foods. About two-thirds of respondents (67.5%) considered the creation of GM foods morally wrong and unethical. Regarding GM food labeling preferences, 88% of consumers preferred mandatory labeling of GM foods and 67% of consumers specified that any food product containing a trace of GM food ingredients required mandatory GM labeling. Also, despite the declaration of GM food ingredients on food labels and the reassurance of its safety for consumption by food safety and regulatory institutions, the majority of consumers (76.1%) still preferred conventionally produced foods over GM foods. The study revealed the need to inform shoppers of the presence of GM foods and technologies, present the scientific evidence as to the benefits and risks and the need for a policy on labeling so that informed choices could be taken.

Keywords: genetically modified foods, income, labeling consumer awareness, ingredients, morality and ethics, policy

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Authors: Prateep Wajeetongratana

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This study investigates the management accountant’s roles that link with the creation of corporate shared value to enable more effective decision-making and improve the information needs of stakeholders. Mixed method is employed to collect using triangulation for credibility. A quantitative approach is employed to conduct a survey of 200 Thai companies providing annual reports in the Stock Exchange of Thailand. The results of the study reveal that environmental and social data incorporated in a corporate social responsibility (CSR) disclosure are based on the indicators of the Global Reporting Initiatives (GRI) at a statistically significant level of 0.01. Environmental and social indicators in CSR are associated with environmental and social data disclosed in the annual report to support stakeholders’ and the public’s interests that are addressed and show that a significant relationship between environmental and social in CSR disclosures and the information in annual reports is statistically significant at the 0.01 level.

Keywords: corporate social responsibility, creating shared value, management accountant’s roles, stock exchange of Thailand

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Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, M. Saghareishvili

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The article discusses the consumer market of agricultural products and agricultural policy in Georgia. It is noted that development of the strategic areas of the agricultural sector needs a special support. These strategic areas should create the country's major export potential. It is important to develop strategies to access to the international markets, form extensive marketing network etc., which will become the basis for the promotion and revenue growth of the country. The Georgian agricultural sector, with the right state policy and support, can achieve success and gain access to the world market with competitive agricultural products. The paper discusses the current condition of agriculture, export and import of agricultural products and agricultural policy in Georgia. The conducted research concludes the information that there is an increasing demand on the green goods in the world market. Natural and climatic conditions of Georgia give a serious possibility of implementing it. The research presents an agricultural development strategy in Georgia and the findings and based on them recommendations are proposed.

Keywords: agriculture, export-import of agricultural products, agricultural cooperative society, agricultural policy, agricultural insurance

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Authors: Amy Whelan

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This paper presents the reader with the overarching research topic: Examining the drivers to sustainable consumer behavioural intention in the Irish aviation industry. This research will examine the underlying factors that facilitate or hinder a consumer’s sustainable consumption pertaining to aviation, in order to advance the Sustainable Development Goals (SDG’s). The SDG’s were adopted by all United Nations Member States in 2015 as a call to end poverty, to protect the planet and to ensure that all people enjoy peace and prosperity by the year 2030. Consumers are becoming increasingly concerned about environmental, social and economic issues, and are willing to act on those concerns. More recently, the impact of a consumers environmental footprint has led consumers to re-evaluate their purchase habits and in some cases consumers are more willing to spend more on products and services with environmental characteristics. Accordingly, this has pushed businesses to re-examine their sustainable efforts. However, although consumers may feel a moral responsibility to live sustainably, they cannot do so without effective support from governments, NGOs and the businesses with which they interact. Through the use of Ajzen’s amended TPB model, this research seeks to understand consumers attitudes and behavioural intention towards sustainable aviation and travel and examine the attitude-behaviour gap in sustainable tourism and aviation in Ireland. This research is a mixed methods study and will include an initial elicitation study in the form of focus groups supported by a quantitative survey to inform the initial findings of this research.

Keywords: aviation, consumer behaviour, marketing, sustainability

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Authors: Mikhail V. Khachaturyan, Inga A. Koryagina, Maria Nikishova

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The study investigates the impact of the ongoing financial crisis, started in the 2^nd half of 2014, on marketing budgets spent by Fast-moving consumer goods companies. In these conditions, special importance is given to efficient possessory risk management systems. The main objective for establishing and developing possessory risk management systems for FMCG companies in a crisis is to analyze the data relating to the external environment and consumer behavior in a crisis. Another important objective for possessory risk management systems of FMCG companies is to develop measures and mechanisms to maintain and stimulate sales. In this regard, analysis of risks and threats which consumers define as the main reasons affecting their level of consumption become important. It is obvious that in crisis conditions the effective risk management systems responsible for development and implementation of strategies for consumer demand stimulation, as well as the identification, analysis, assessment and management of other types of risks of economic security will be the key to sustainability of a company. In terms of financial and economic crisis, the problem of forming and developing possessory risk management systems becomes critical not only in the context of management models of FMCG companies, but for all the companies operating in other sectors of the Russian economy. This study attempts to analyze the specifics of formation and development of company possessory risk management systems. In the modern economy, special importance among all the types of owner’s risks has the risk of reduction in consumer activity. This type of risk is common not only for the consumer goods trade. Study of consumer activity decline is especially important for Russia due to domestic market of consumer goods being still in the development stage, despite its significant growth. In this regard, it is especially important to form and develop possessory risk management systems for FMCG companies. The authors offer their own interpretation of the process of forming and developing possessory risk management systems within owner’s management models of FMCG companies as well as in Russian economy in general. Proposed methods and mechanisms of problem analysis of formation and development of possessory risk management systems in FMCG companies and the results received can be helpful for researchers interested in problems of consumer goods market development in Russia and overseas.

Keywords: FMCG companies, marketing budget, risk management, owner, Russian economy, organization, formation, development, system

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Authors: Ida Madieha Abdul Ghani Azmi, Heng Gee Lim, Adlan Abdul Razak, Nasaruddin Abdul Rahman

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The objective of competition law is to maximise consumer welfare through the regulation of anti-competitive behaviour that results in the distortion of the market. Intellectual property law also seeks to enhance consumer welfare in the long run by encouraging the development of useful devices and processes. Nevertheless, in some circumstances, the IP owners behave in such a way that makes it difficult for rival companies to sell substitute products and technology in the market. Intellectual property owners may also reach a dominant position in the market such that they are able to dictate unfair terms and conditions on other market players. Among the two major categories of anti-competitive behavior is the use of horizontal and vertical agreement to constrain effective competition and abuse of dominant position. As a result, many countries have regulated the conduct of the IP owners that are considered as anti-competitive including the US, Canada, and Singapore. This paper visits the proposed IP Guidelines recently drafted by the Malaysian Competition Commission and investigates to what extent it resolves most of the anti-competitive behavior of the IP owners. The paper concludes by suggesting some of the rules that could be prescribed by the Competition Commission in order to maintain the relevancy of competition law as the main check against the abuse of rights by the intellectual property owners.

Keywords: abuse of dominant position, consumer welfare, intellectual property rights, vertical and horizontal agreements

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Authors: Sayed Kifayat Shah, Tang Zhongjun, Mohammad Ahmad, Sohaib Mostafa

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This article investigates consumer’s intention to shift to 5G in the light of disruptive technology innovation. To switch from 4G (Existing) technology to 5G (Disruptive) technology requires not just economic benefits and costs but involves other values too, which aren't yet experienced in the framework of technology innovation. This study extended the valued adaptation (VAM) model by proposing the sustainability values (SVs) construct. The model was examined on data from 361 Chinese consumers using the partial least squares-based structural equation modelling (PLS-SEM) technique. The outcomes prove the significant correlation of sustainability values (SVs) which influences consumer’s switching intentions toward 5G disruptive technology. The findings of this research will be helpful to telecoms firms in developing consumer retention strategies. Some limitations and the importance of the research for scholars and managers are also discussed.

Keywords: value adaptation model (VAM), sustainability values (SVs), disruptive 5G technology, switching intentions (SI), partial least squares-based structural equation modelling (PLS-SEM)

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Authors: Olivier Mesly

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This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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Authors: Prisecaru Diana-Sorina

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The paper will show that, while the EU legislator tackled a series of UX patterns used in e-commerce to induce the consumers take actions that they would not normally undertake, it leaves out many other aspects related to misuse or poor UX design that adversely affect EU consumers. Further, the paper proposes a reevaluation of the regulatory addressability of the issue and hand and focuses on explaining why a joint strategy, based on the interplay between provisions aiming consumer protection and personal data protection is the key approach to this matter.

Keywords: algorithms, consumer protection, European Union, user experience design

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Authors: Mikel Alonso López

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In the first decade of the twenty-first century, advanced imaging techniques began to be applied for neuroscience research. The Functional Magnetic Resonance Imaging (fMRI) is one of the most important and most used research techniques for the investigation of emotions, because of its ease to observe the brain areas that oxygenate when performing certain tasks. In this research, we make a review about the main research carried out on the influence of the emotions in the decision-making process that is exposed by using the fMRI.

Keywords: decision making, emotions, fMRI, consumer behaviour

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Authors: Adel M. Qatawneh

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This paper aimed to determine the importance of knowledge innovation for external audit on anti-corruption in the entire Jordanian bank companies are listed in Amman Stock Exchange (ASE). The study importance arises from the need to recognize the Knowledge innovation for external audit and anti-corruption as the development in the world of business, the variables that will be affected by external audit innovation are: reliability of financial data, relevantly of financial data, consistency of the financial data, Full disclosure of financial data and protecting the rights of investors to achieve the objectives of the study a questionnaire was designed and distributed to the society of the Jordanian bank are listed in Amman Stock Exchange. The data analysis found out that the banks in Jordan have a positive importance of Knowledge innovation for external audit on anti-corruption. They agree on the benefit of Knowledge innovation for external audit on anti-corruption. The statistical analysis showed that Knowledge innovation for external audit had a positive impact on the anti-corruption and that external audit has a significantly statistical relationship with anti-corruption, reliability of financial data, consistency of the financial data, a full disclosure of financial data and protecting the rights of investors.

Keywords: knowledge innovation, external audit, anti-corruption, Amman Stock Exchange

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Authors: Shakila N. Senarath, Dinesh Asanka, Janaka Wijayanayake

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The necessity of cosmetic products is arising to fulfill consumer needs of personality appearance and hygiene. A cosmetic product consists of various chemical ingredients which may help to keep the skin healthy or may lead to damages. Every chemical ingredient in a cosmetic product does not perform on every human. The most appropriate way to select a healthy cosmetic product is to identify the texture of the body first and select the most suitable product with safe ingredients. Therefore, the selection process of cosmetic products is complicated. Consumer surveys have shown most of the time, the selection process of cosmetic products is done in an improper way by consumers. From this study, a content-based system is suggested that recommends cosmetic products for the human factors. To such an extent, the skin type, gender and price range will be considered as human factors. The proposed system will be implemented by using Machine Learning. Consumer skin type, gender and price range will be taken as inputs to the system. The skin type of consumer will be derived by using the Baumann Skin Type Questionnaire, which is a value-based approach that includes several numbers of questions to derive the user’s skin type to one of the 16 skin types according to the Bauman Skin Type indicator (BSTI). Two datasets are collected for further research proceedings. The user data set was collected using a questionnaire given to the public. Those are the user dataset and the cosmetic dataset. Product details are included in the cosmetic dataset, which belongs to 5 different kinds of product categories (Moisturizer, Cleanser, Sun protector, Face Mask, Eye Cream). An alternate approach of TF-IDF (Term Frequency – Inverse Document Frequency) is applied to vectorize cosmetic ingredients in the generic cosmetic products dataset and user-preferred dataset. Using the IF-IPF vectors, each user-preferred products dataset and generic cosmetic products dataset can be represented as sparse vectors. The similarity between each user-preferred product and generic cosmetic product will be calculated using the cosine similarity method. For the recommendation process, a similarity matrix can be used. Higher the similarity, higher the match for consumer. Sorting a user column from similarity matrix in a descending order, the recommended products can be retrieved in ascending order. Even though results return a list of similar products, and since the user information has been gathered, such as gender and the price ranges for product purchasing, further optimization can be done by considering and giving weights for those parameters once after a set of recommended products for a user has been retrieved.

Keywords: content-based filtering, cosmetics, machine learning, recommendation system

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Authors: Darshan Lal

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The paper describes the concept of Information literacy. It is a critical component of this information age. Information literacy is the vital process in modern changing world. Information Literacy initiatives in India was also discussed. Paper also discussed Information literacy programmes for LIS professionals. Information literacy makes person capable to recognize when information is needed and how to locate, evaluate and use effectively of the needed information.

Keywords: information literacy, information communication technology (ICT), information literacy programmes

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Authors: M. K. Witek-Hajduk, T. M. Napiórkowski

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A number of studies discussed the topic of benefits of retailers-manufacturers cooperation and coopetition. However, there are only few publications focused on the benefits of cooperation and coopetition between retailers and their suppliers of durable consumer goods; especially in the context of business model of cooperating partners. This paper aims to provide a clustering approach to segment retailers selling consumer durables according to the benefits they obtain from their cooperation with key manufacturers and differentiate the said retailers’ in term of the business models of cooperating partners. For the purpose of the study, a survey (with a CATI method) collected data on 603 consumer durables retailers present on the Polish market. Retailers are clustered both, with hierarchical and non-hierarchical methods. Five distinctive groups of consumer durables’ retailers are (based on the studied benefits) identified using the two-stage clustering approach. The clusters are then characterized with a set of exogenous variables, key of which are business models employed by the retailer and its partnering key manufacturer. The paper finds that the a combination of a medium sized retailer classified as an Integrator with a chiefly domestic capital and a manufacturer categorized as a Market Player will yield the highest benefits. On the other side of the spectrum is medium sized Distributor retailer with solely domestic capital – in this case, the business model of the cooperating manufactrer appears to be irreleveant. This paper is the one of the first empirical study using cluster analysis on primary data that defines the types of cooperation between consumer durables’ retailers and manufacturers – their key suppliers. The analysis integrates a perspective of both retailers’ and manufacturers’ business models and matches them with individual and joint benefits.

Keywords: benefits of cooperation, business model, cluster analysis, retailer-manufacturer cooperation

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Authors: Suttipong Phosuksirikul, Rawichar Chaipojjana, Arunsri Leejeerajumnean

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The aim of research was to define the relations between volatile compounds, some parameters (pH, titratable acidity (TA), total soluble solid (TSS), lactic acid bacteria count) and consumer preference of commercial fermented milks. These relations tend to be used for controlling and developing new fermented milk product. Three leading commercial brands of fermented milks in Thailand were evaluated by consumers (n=71) using hedonic scale for four attributes (sweetness, sourness, flavour, and overall liking), volatile compounds using headspace-solid phase microextraction (HS-SPME) GC-MS, pH, TA, TSS and LAB count. Then the relations were analyzed by principal component analysis (PCA). The PCA data showed that all of four attributes liking scores were related to each other. They were also related to TA, TSS and volatile compounds. The related volatile compounds were mainly on fermented produced compounds including acetic acid, furanmethanol, furfural, octanoic acid and the volatiles known as artificial fruit flavour (beta pinene, limonene, vanillin, and ethyl vanillin). These compounds were provided the information about flavour addition in commercial fermented milk in Thailand.

Keywords: fermented milk, volatile compounds, preference, PCA

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Authors: Kinga Topolska, Agnieszka Filipiak-Florkiewicz, Adam Florkiewicz, Daria Chechelska, Iwona Cieślik, Ewa Cieślik

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Food choice is a complex human behaviour, that is influenced by many interrelating factors. It is important to understand what consumers really want to eat. Nowadays, the growing popularity of frozen desserts is observed. Among them, sorbets are of the special interest. They are made primarily of fruit juice or fruit purée, water and sugar. A questionnaire study was done to evaluate the consumer preferences towards sorbets. A hundred respondents were included in the study. The respondents answered the questions concerning, inter alia, on the favourite taste of sorbets, additional ingredients (pieces of fruits, nuts etc.), the reason for choosing the product and also the opinion about potential purchasing or not the new product. Women, more frequently than men, indicated strawberry sorbet or the product on the basis of citrus fruits as a favourite one. In turn, 14% of men chose the apple taste. Pieces of chocolate were chosen by most of respondents. Men, more often than women, regarded raisins, alcohol and nuts as the most desirable additional ingredients of sorbets. The candied fruits and spices were indicated more frequently by women. Most of respondents indicated the taste as the major reason for sorbet buying. In turn, for 20% women the most important determinant was the care for their figure. It was observed that more than a half of women regarded sorbets as healthier than traditional ice creams. Answering the question: 'If you had the opportunity to try a new sorbet, containing the ingredient with proven healthy properties, would you buy it?', significantly more men than women answered 'yes, because I like novelty'. Meanwhile, for 14% respondents (independently of gender) it would be only a publicity stunt. Knowing what the consumers desire in selecting a product, is a very important information to design and offer them a new one. Sorbets could be an interesting alternative to ice creams.

Keywords: consumer, preferences, sorbets, questionnaire study

Procedia PDF Downloads 267

Authors: Eunjung Lee

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This research investigates the intricate connection between cultural differences and online consumer behaviors by integrating Hofstede's Cultural Dimensions theory with analysis methodologies such as text mining, data mining, and topic analysis. Our aim is to provide a comprehensive understanding of how national cultural differences influence individuals' behaviors when engaging with online reviews. To ensure the relevance of our investigation, we systematically analyze and interpret the cultural nuances influencing online consumer behaviors, especially in the context of online reviews. By anchoring our research in Hofstede's Cultural Dimensions theory, we seek to offer valuable insights for marketers to tailor their strategies based on the cultural preferences of diverse global consumer bases. In our methodology, we employ advanced text mining techniques to extract insights from a diverse range of online reviews gathered globally for a specific product or service like Netflix. This approach allows us to reveal hidden cultural cues in the language used by consumers from various backgrounds. Complementing text mining, data mining techniques are applied to extract meaningful patterns from online review datasets collected from different countries, aiming to unveil underlying structures and gain a deeper understanding of the impact of cultural differences on online consumer behaviors. The study also integrates topic analysis to identify recurring subjects, sentiments, and opinions within online reviews. Marketers can leverage these insights to inform the development of culturally sensitive strategies, enhance target audience segmentation, and refine messaging approaches aligned with cultural preferences. Anchored in Hofstede's Cultural Dimensions theory, our research employs sophisticated methodologies to delve into the intricate relationship between cultural differences and online consumer behaviors. Applied to specific cultural dimensions, such as individualism vs. collectivism, masculinity vs. femininity, uncertainty avoidance, and long-term vs. short-term orientation, the study uncovers nuanced insights. For example, in exploring individualism vs. collectivism, we examine how reviewers from individualistic cultures prioritize personal experiences while those from collectivistic cultures emphasize communal opinions. Similarly, within masculinity vs. femininity, we investigate whether distinct topics align with cultural notions, such as robust features in masculine cultures and user-friendliness in feminine cultures. Examining information-seeking behaviors under uncertainty avoidance reveals how cultures differ in seeking detailed information or providing succinct reviews based on their comfort with ambiguity. Additionally, in assessing long-term vs. short-term orientation, the research explores how cultural focus on enduring benefits or immediate gratification influences reviews. These concrete examples contribute to the theoretical enhancement of Hofstede's Cultural Dimensions theory, providing a detailed understanding of cultural impacts on online consumer behaviors. As online reviews become increasingly crucial in decision-making, this research not only contributes to the academic understanding of cultural influences but also proposes practical recommendations for enhancing online review systems. Marketers can leverage these findings to design targeted and culturally relevant strategies, ultimately enhancing their global marketing effectiveness and optimizing online review systems for maximum impact.

Keywords: comparative analysis, cultural dimensions, marketing intelligence, national culture, online consumer behavior, text mining

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Authors: Siti Dewi Aisyah

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Islamic Modest Fashion has become one of the emerging industries. It is said that social media has making a role in its development. From designers, hijabi bloggers and then instagrammers, they are often seen posting their everyday outfits. They want to combine their faith with cutting-edge fashion trend. Muslim consumers has become a potential targeted market due to the increasing of people wearing hijab. Muslim consumers are projected to spend $327 bilion on clothing by 2020. Indonesia, as the biggest Muslim majority country, has targeted to be The World’s Center for Muslim Fashion in the world as its national branding by 2020. This study will examine how social media especially Blog and Instagram can lead the movement of Islamic Modest Fashion in Indonesia, how it also brings consumer culture to hijabi and as the result it triggers Indonesia to brand itself and how all the elements in Indonesia including the designers, bloggers or instagrammers and also Indonesian Agency for Creative Economy together work to make its dream come true. This research will be conducted through interviews with several elements mentioned, and internet, blog, Instagram and Youtube analysis through visual analysis that also examine the semiotic meaning behind the picture that are posted by the people on the social media especially about the Islamic Modest Fashion trend. This research also contains a literature review of a diverse group of works on topics related to the study. This research will be examined through several theoretical frameworks including the study of social media, fashion culture and consumer culture. Fashion and consumer culture are also two main topics because fashion furthermore leads to consumer culture. The possible benefit of this research is to be a reference literature of Islamic Modest Fashion and social media’s role especially in an Indonesian context.

Keywords: blog, instagram, consumer culture, modest fashion, social media, visual analysis

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Authors: Park, Yoon Hong, Wang, Jung Kab, Choi Seong-Won, Kim, Hong Kyu

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Itaewon-Ro is a special place where the Seoul Metropolitan city designated as the fist are of tourism, specially with the commercial supremacy that foreigners may like. It is the place that grew with regional specialty. Study on the vitalization factors of commercialist were analyzed on consumer shop choice factor, Physical environment based on commercial supremacy vitalization, Functional side of the road and regional specialty. However, since Itaewon seemed to take great place in the cultural factor, Because of its regional specialty, Research was processed. This study is the analysis on the vitalization of Itaewon commercialist that looked for important factors with AHP analysis on consumers use as commercialist. Based on the field study and preceded study, top three factors were distinguished with physical factor, cultural factor, landscape factor, and thirteen detail contents were found. This study focused on the choice of the consumer and with a consumer-based questionnaire, we analyzed the importance of vitalization factors. Results of the research are shown in the following paragraphs. In the Itaewon commercial market, mostly women in the 20~30s were the main consumers for meeting and hopping. Vitalization category that the consumer thinks it most importantly was 'attraction', 'various businesses', and 'convenience of transportation'. 'Attraction that cannot be seen in other places', Which was chosen as the most important factor was judged that Itaewon holds cultural identity that is shown in the process of development, Instead of showing artificial and physical composition.

Keywords: commercialist, vitalization factor, regional specialty, cultural factor, AHP analysis

Procedia PDF Downloads 404