Search results for: consumer demand
3897 Real Estate Rigidities: The Effect of Cash Transactions and the Impact of Demonetisation on Them
Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar
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We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments
Procedia PDF Downloads 3653896 Effects of Warning Label on Cigarette Package on Consumer Behavior of Smokers in Batangas City Philippines
Authors: Irene H. Maralit
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Warning labels have been found to inform smokers about the health hazards of smoking, encourage smokers to quit, and prevent nonsmokers from starting to smoke. Warning labels on tobacco products are an ideal way of communicating with smokers. Since the intervention is delivered at the time of smoking, nearly all smokers are exposed to warning labels and pack-a-day smokers could be exposed to the warnings more than 7,000 times per year. Given the reach and frequency of exposure, the proponents want to know the effect of warning labels on smoking behavior. Its aims to identify the profile of the smokers associated with its behavioral variables that best describe the users’ perception. The behavioral variables are AVOID, THINK RISK and FORGO. This research study aims to determine if there is significant relationship between the effect of warning labels on cigarette package on Consumer behavior when grouped according to profile variable. The researcher used quota sampling to gather representative data through purposive means to determine the accurate representation of data needed in the study. Furthermore, the data was gathered through the use of a self-constructed questionnaire. The statistical method used were Frequency count, Chi square, multi regression, weighted mean and ANOVA to determine the scale and percentage of the three variables. After the analysis of data, results shows that most of the respondents belongs to age range 22–28 years old with percentage of 25.3%, majority are male with a total number of 134 with percentage of 89.3% and single with total number of 79 and percentage of 52.7%, mostly are high school graduates with total number of 59 and percentage of 39.3, with regards to occupation, skilled workers have the highest frequency of 37 with 24.7%, Majority of the income of the respondents falls under the range of Php 5,001-Php10,000 with 50.7%. And also with regards to the number of sticks consumed per day falls under 6–10 got the highest frequency with 33.3%. The respondents THINK RISK factor got the highest composite mean which is 2.79 with verbal interpretation of agree. It is followed by FORGO with 2.78 composite mean and a verbal interpretation of agree and AVOID variable with composite mean of 2.77 with agree as its verbal interpretation. In terms of significant relationship on the effects of cigarette label to consumer behavior when grouped according to profile variable, sex and occupation found to be significant.Keywords: consumer behavior, smokers, warning labels, think risk avoid forgo
Procedia PDF Downloads 2183895 Consumer Preferences towards Sorbets: A Questionnaire Study
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 2863894 Standard Resource Parameter Based Trust Model in Cloud Computing
Authors: Shyamlal Kumawat
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Cloud computing is shifting the approach IT capital are utilized. Cloud computing dynamically delivers convenient, on-demand access to shared pools of software resources, platform and hardware as a service through internet. The cloud computing model—made promising by sophisticated automation, provisioning and virtualization technologies. Users want the ability to access these services including infrastructure resources, how and when they choose. To accommodate this shift in the consumption model technology has to deal with the security, compatibility and trust issues associated with delivering that convenience to application business owners, developers and users. Absent of these issues, trust has attracted extensive attention in Cloud computing as a solution to enhance the security. This paper proposes a trusted computing technology through Standard Resource parameter Based Trust Model in Cloud Computing to select the appropriate cloud service providers. The direct trust of cloud entities is computed on basis of the interaction evidences in past and sustained on its present performances. Various SLA parameters between consumer and provider are considered in trust computation and compliance process. The simulations are performed using CloudSim framework and experimental results show that the proposed model is effective and extensible.Keywords: cloud, Iaas, Saas, Paas
Procedia PDF Downloads 3323893 Bus Transit Demand Modeling and Fare Structure Analysis of Kabul City
Authors: Ramin Mirzada, Takuya Maruyama
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Kabul is the heart of political, commercial, cultural, educational and social life in Afghanistan and the fifth fastest growing city in the world. Minimum income inclined most of Kabul residents to use public transport, especially buses, although there is no proper bus system, beside that there is no proper fare exist in Kabul city Due to wars. From 1992 to 2001 during civil wars, Kabul suffered damage and destruction of its transportation facilities including pavements, sidewalks, traffic circles, drainage systems, traffic signs and signals, trolleybuses and almost all of the public transport system (e.g. Millie bus). This research is mainly focused on Kabul city’s transportation system. In this research, the data used have been gathered by Japan International Cooperation Agency (JICA) in 2008 and this data will be used to find demand and fare structure, additionally a survey was done in 2016 to find satisfaction level of Kabul residents for fare structure. Aim of this research is to observe the demand for Large Buses, compare to the actual supply from the government, analyze the current fare structure and compare it with the proposed fare (distance based fare) structure which has already been analyzed. Outcome of this research shows that the demand of Kabul city residents for the public transport (Large Buses) exceeds from the current supply, so that current public transportation (Large Buses) is not sufficient to serve public transport in Kabul city, worth to be mentioned, that in order to overcome this problem, there is no need to build new roads or exclusive way for buses. This research proposes government to change the fare from fixed fare to distance based fare, invest on public transportation and increase the number of large buses so that the current demand for public transport is met.Keywords: transportation, planning, public transport, large buses, Kabul, Afghanistan
Procedia PDF Downloads 3153892 The Effect of Green Power Trading Mechanism on Interregional Power Generation and Transmission in China
Authors: Yan-Shen Yang, Bai-Chen Xie
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Background and significance of the study: Both green power trading schemes and interregional power transmission are effective ways to increase green power absorption and achieve renewable power development goals. China accelerates the construction of interregional power transmission lines and the green power market. A critical issue focusing on the close interaction between these two approaches arises, which can heavily affect the green power quota allocation and renewable power development. Existing studies have not discussed this issue adequately, so it is urgent to figure out their relationship to achieve a suitable power market design and a more reasonable power grid construction.Basic methodologies: We develop an equilibrium model of the power market in China to analyze the coupling effect of these two approaches as well as their influence on power generation and interregional transmission in China. Our model considers both the Tradable green certificate (TGC) and green power market, which consists of producers, consumers in the market, and an independent system operator (ISO) minimizing the total system cost. Our equilibrium model includes the decision optimization process of each participant. To reformulate the models presented as a single-level one, we replace the producer, consumer, ISO, and market equilibrium problems with their Karush-Kuhn-Tucker (KKT) conditions, which is further reformulated as a mixed-integer linear programming (MILP) and solved in Gurobi solver. Major findings: The result shows that: (1) the green power market can significantly promote renewable power absorption while the TGC market provides a more flexible way for green power trading. (2) The phenomena of inefficient occupation and no available transmission lines appear simultaneously. The existing interregional transmission lines cannot fully meet the demand for wind and solar PV power trading in some areas while the situation is vice versa in other areas. (3) Synchronous implementation of green power and TGC trading mechanism can benefit the development of green power as well as interregional power transmission. (4) The green power transaction exacerbates the unfair distribution of carbon emissions. The Carbon Gini Coefficient is up to 0.323 under the green power market which shows a high Carbon inequality. The eastern coastal region will benefit the most due to its huge demand for external power.Keywords: green power market, tradable green certificate, interregional power transmission, power market equilibrium model
Procedia PDF Downloads 1493891 Energy Consumption Modeling for Strawberry Greenhouse Crop by Adaptive Nero Fuzzy Inference System Technique: A Case Study in Iran
Authors: Azar Khodabakhshi, Elham Bolandnazar
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Agriculture as the most important food manufacturing sector is not only the energy consumer, but also is known as energy supplier. Using energy is considered as a helpful parameter for analyzing and evaluating the agricultural sustainability. In this study, the pattern of energy consumption of strawberry greenhouses of Jiroft in Kerman province of Iran was surveyed. The total input energy required in the strawberries production was calculated as 113314.71 MJ /ha. Electricity with 38.34% contribution of the total energy was considered as the most energy consumer in strawberry production. In this study, Neuro Fuzzy networks was used for function modeling in the production of strawberries. Results showed that the best model for predicting the strawberries function had a correlation coefficient, root mean square error (RMSE) and mean absolute percentage error (MAPE) equal to 0.9849, 0.0154 kg/ha and 0.11% respectively. Regards to these results, it can be said that Neuro Fuzzy method can be well predicted and modeled the strawberry crop function.Keywords: crop yield, energy, neuro-fuzzy method, strawberry
Procedia PDF Downloads 3833890 Improving Order Quantity Model with Emergency Safety Stock (ESS)
Authors: Yousef Abu Nahleh, Alhasan Hakami, Arun Kumar, Fugen Daver
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This study considers the problem of calculating safety stocks in disaster situations inventory systems that face demand uncertainties. Safety stocks are essential to make the supply chain, which is controlled by forecasts of customer needs, in response to demand uncertainties and to reach predefined goal service levels. To solve the problem of uncertainties due to the disaster situations affecting the industry sector, the concept of Emergency Safety Stock (ESS) was proposed. While there exists a huge body of literature on determining safety stock levels, this literature does not address the problem arising due to the disaster and dealing with the situations. In this paper, the problem of improving the Order Quantity Model to deal with uncertainty of demand due to disasters is managed by incorporating a new idea called ESS which is based on the probability of disaster occurrence and uses probability matrix calculated from the historical data.Keywords: Emergency Safety Stocks, safety stocks, Order Quantity Model, supply chain
Procedia PDF Downloads 3493889 Digital Nudge, Social Proof Nudge and Trust on Brand loyalty
Authors: Mirza Amin Ul Haq
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Purpose – the purpose of conducting this research is to check the impact of nudges constructs, whether they create an encouragement factor with consumer brand loyalty and relating of word-of-mouth power have some kind of effect with all independent variables. Desin/Methodology/Approach – this study adopted the four constructs (i.e., Digital Nudge, Social Proof Nudge, Trust, and the mediator Word of Mouth) and explore its effect and connection with Brand Loyalty. A total of 390 respondents were selected for self-administrated questionnaire to obtain the finding of the research. Findings – the impact and cause between the constructs were done through structural equation modeling. The findings show a positive impact of social proof nudge and word of mouth whereas, digital nudge and trust have the weaker influence on the consumer choices when talk about brand loyalty. Originality/Value – Further implication for research and its marketing strategies in the field of clothing industry creating brand loyalty with customer.Keywords: nudge, digital nudge, social proof, online buying, brand loyalty, trust, word of mouth
Procedia PDF Downloads 1143888 Antecedents of Regret and Satisfaction in Electronic Commerce
Authors: Chechen Liao, Pui-Lai To, Chuang-Chun Liu
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Online shopping has become very popular recently. In today’s highly competitive online retail environment, retaining existing customers is a necessity for online retailers. This study focuses on the antecedents and consequences of Internet buyer regret and satisfaction in the online consumer purchasing process. This study examines the roles that online consumer’s purchasing process evaluations (i.e., search experience difficulty, service-attribute evaluations, product-attribute evaluations and post-purchase price perceptions) and alternative evaluation (i.e., alternative attractiveness) play in determining buyer regret and satisfaction in e-commerce. The study also examines the consequences of regret, satisfaction and habit in regard to repurchase intention. In addition, this study attempts to investigate the moderating role of habit in attaining a better understanding of the relationship between repurchase intention and its antecedents. Survey data collected from 431 online customers are analyzed using structural equation modeling (SEM) with partial least squares (PLS) and support provided for the hypothesized links. These results indicate that online consumer’s purchasing process evaluations (i.e., search experience difficulty, service-attribute evaluations, product-attribute evaluations and post-purchase price perceptions) have significant influences on regret and satisfaction, which in turn influences repurchase intention. In addition, alternative evaluation (i.e., alternative attractiveness) has a significant positive influence on regret. The research model can provide a richer understanding of online customers’ repurchase behavior and contribute to both research and practice.Keywords: online shopping, purchase evaluation, regret, satisfaction
Procedia PDF Downloads 2833887 Two-Warehouse Inventory Model for Deteriorating Items with Inventory-Level-Dependent Demand under Two Dispatching Policies
Authors: Lei Zhao, Zhe Yuan, Wenyue Kuang
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This paper studies two-warehouse inventory models for a deteriorating item considering that the demand is influenced by inventory levels. The problem mainly focuses on the optimal order policy and the optimal order cycle with inventory-level-dependent demand in two-warehouse system for retailers. It considers the different deterioration rates and the inventory holding costs in owned warehouse (OW) and rented warehouse (RW), and the conditions of transportation cost, allowed shortage and partial backlogging. Two inventory models are formulated: last-in first-out (LIFO) model and first-in-first-out (FIFO) model based on the policy choices of LIFO and FIFO, and a comparative analysis of LIFO model and FIFO model is made. The study finds that the FIFO policy is more in line with realistic operating conditions. Especially when the inventory holding cost of OW is high, and there is no difference or big difference between deterioration rates of OW and RW, the FIFO policy has better applicability. Meanwhile, this paper considers the differences between the effects of warehouse and shelf inventory levels on demand, and then builds retailers’ inventory decision model and studies the factors of the optimal order quantity, the optimal order cycle and the average inventory cost per unit time. To minimize the average total cost, the optimal dispatching policies are provided for retailers’ decisions.Keywords: FIFO model, inventory-level-dependent, LIFO model, two-warehouse inventory
Procedia PDF Downloads 2793886 The Use of an Extract from the Polish Variety of White Mulberry Leaves in Flat Bread of Paratha Type
Authors: Monika Przeor
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The pace of life of modern society promotes the occurrence of affluence diseases. Functional food, which design and consumption by the consumer may be useful in the prevention of occurrence of different diseases, is becoming the alternative of food products available in the market. Design and determination of properties of flat bread of paratha type with the addition of an extract from the leaves of white mulberry became the overriding objective in the presented study. The centuries-old use of mulberry leaves in alternative medicine gave hope to obtain positive effects of the undertaken activity. In the designed product, stability, and content of polyphenols as well as their antioxidant properties were tested. Moreover, in the paper an aqueous extract of mulberry leaves obtained on semi-technical scale was described. It is rich in polyphenols, which results in its antioxidant activity. The addition of the extract significantly increased health-promoting qualities of paratha. The 3% extract addition to the dough turned out to be the most desired by the consumer group.Keywords: mulberry leaves extract, flat bread, paratha, antioxidant activity
Procedia PDF Downloads 1963885 Water Demand Modelling Using Artificial Neural Network in Ramallah
Authors: F. Massri, M. Shkarneh, B. Almassri
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Water scarcity and increasing water demand especially for residential use are major challenges facing Palestine. The need to accurately forecast water consumption is useful for the planning and management of this natural resource. The main objective of this paper is to (i) study the major factors influencing the water consumption in Palestine, (ii) understand the general pattern of Household water consumption, (iii) assess the possible changes in household water consumption and suggest appropriate remedies and (iv) develop prediction model based on the Artificial Neural Network to the water consumption in Palestinian cities. The paper is organized in four parts. The first part includes literature review of household water consumption studies. The second part concerns data collection methodology, conceptual frame work for the household water consumption surveys, survey descriptions and data processing methods. The third part presents descriptive statistics, multiple regression and analysis of the water consumption in the two Palestinian cities. The final part develops the use of Artificial Neural Network for modeling the water consumption in Palestinian cities.Keywords: water management, demand forecasting, consumption, ANN, Ramallah
Procedia PDF Downloads 2193884 Cross-Sectoral Energy Demand Prediction for Germany with a 100% Renewable Energy Production in 2050
Authors: Ali Hashemifarzad, Jens Zum Hingst
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The structure of the world’s energy systems has changed significantly over the past years. One of the most important challenges in the 21st century in Germany (and also worldwide) is the energy transition. This transition aims to comply with the recent international climate agreements from the United Nations Climate Change Conference (COP21) to ensure sustainable energy supply with minimal use of fossil fuels. Germany aims for complete decarbonization of the energy sector by 2050 according to the federal climate protection plan. One of the stipulations of the Renewable Energy Sources Act 2017 for the expansion of energy production from renewable sources in Germany is that they cover at least 80% of the electricity requirement in 2050; The Gross end energy consumption is targeted for at least 60%. This means that by 2050, the energy supply system would have to be almost completely converted to renewable energy. An essential basis for the development of such a sustainable energy supply from 100% renewable energies is to predict the energy requirement by 2050. This study presents two scenarios for the final energy demand in Germany in 2050. In the first scenario, the targets for energy efficiency increase and demand reduction are set very ambitiously. To build a comparison basis, the second scenario provides results with less ambitious assumptions. For this purpose, first, the relevant framework conditions (following CUTEC 2016) were examined, such as the predicted population development and economic growth, which were in the past a significant driver for the increase in energy demand. Also, the potential for energy demand reduction and efficiency increase (on the demand side) was investigated. In particular, current and future technological developments in energy consumption sectors and possible options for energy substitution (namely the electrification rate in the transport sector and the building renovation rate) were included. Here, in addition to the traditional electricity sector, the areas of heat, and fuel-based consumptions in different sectors such as households, commercial, industrial and transport are taken into account, supporting the idea that for a 100% supply from renewable energies, the areas currently based on (fossil) fuels must be almost completely be electricity-based by 2050. The results show that in the very ambitious scenario a final energy demand of 1,362 TWh/a is required, which is composed of 818 TWh/a electricity, 229 TWh/a ambient heat for electric heat pumps and approx. 315 TWh/a non-electric energy (raw materials for non-electrifiable processes). In the less ambitious scenario, in which the targets are not fully achieved by 2050, the final energy demand will need a higher electricity part of almost 1,138 TWh/a (from the total: 1,682 TWh/a). It has also been estimated that 50% of the electricity revenue must be saved to compensate for fluctuations in the daily and annual flows. Due to conversion and storage losses (about 50%), this would mean that the electricity requirement for the very ambitious scenario would increase to 1,227 TWh / a.Keywords: energy demand, energy transition, German Energiewende, 100% renewable energy production
Procedia PDF Downloads 1343883 The Use of PD and Tanδ Characteristics as Diagnostic Technique for the Insulation Integrity of XLPE Insulated Cable Joints
Authors: Mazen Al-Bulaihed, Nissar Wani, Abdulrahman Al-Arainy, Yasin Khan
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Partial Discharge (PD) measurements are widely used for diagnostic purposes in electrical equipment used in power systems. The main cause of these measurements is to prevent large power failures as cables are prone to aging, which usually results in embrittlement, cracking and eventual failure of the insulating and sheathing materials, exposing the conductor and risking a potential short circuit, a likely cause of the electrical fire. Many distribution networks rely heavily on medium voltage (MV) power cables. The presence of joints in these networks is a vital part of serving the consumer demand for electricity continuously. Such measurements become even more important when the extent of dependence increases. Moreover, it is known that the partial discharge in joints and termination are difficult to track and are the most crucial point of failures in large power systems. This paper discusses the diagnostic techniques of four samples of XLPE insulated cable joints, each included with a different type of defect. Experiments were carried out by measuring PD and tanδ at very low frequency applied high voltage. The results show the importance of combining PD and tanδ for effective cable assessment.Keywords: partial discharge, tan delta, very low frequency, XLPE cable
Procedia PDF Downloads 1643882 The Scenario Analysis of Shale Gas Development in China by Applying Natural Gas Pipeline Optimization Model
Authors: Meng Xu, Alexis K. H. Lau, Ming Xu, Bill Barron, Narges Shahraki
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As an emerging unconventional energy, shale gas has been an economically viable step towards a cleaner energy future in U.S. China also has shale resources that are estimated to be potentially the largest in the world. In addition, China has enormous unmet for a clean alternative to substitute coal. Nonetheless, the geological complexity of China’s shale basins and issues of water scarcity potentially impose serious constraints on shale gas development in China. Further, even if China could replicate to a significant degree the U.S. shale gas boom, China faces the problem of transporting the gas efficiently overland with its limited pipeline network throughput capacity and coverage. The aim of this study is to identify the potential bottlenecks in China’s gas transmission network, as well as to examine the shale gas development affecting particular supply locations and demand centers. We examine this through application of three scenarios with projecting domestic shale gas supply by 2020: optimistic, medium and conservative shale gas supply, taking references from the International Energy Agency’s (IEA’s) projections and China’s shale gas development plans. Separately we project the gas demand at provincial level, since shale gas will have more significant impact regionally than nationally. To quantitatively assess each shale gas development scenario, we formulated a gas pipeline optimization model. We used ArcGIS to generate the connectivity parameters and pipeline segment length. Other parameters are collected from provincial “twelfth-five year” plans and “China Oil and Gas Pipeline Atlas”. The multi-objective optimization model uses GAMs and Matlab. It aims to minimize the demands that are unable to be met, while simultaneously seeking to minimize total gas supply and transmission costs. The results indicate that, even if the primary objective is to meet the projected gas demand rather than cost minimization, there’s a shortfall of 9% in meeting total demand under the medium scenario. Comparing the results between the optimistic and medium supply of shale gas scenarios, almost half of the shale gas produced in Sichuan province and Chongqing won’t be able to be transmitted out by pipeline. On the demand side, the Henan province and Shanghai gas demand gap could be filled as much as 82% and 39% respectively, with increased shale gas supply. To conclude, the pipeline network in China is currently not sufficient in meeting the projected natural gas demand in 2020 under medium and optimistic scenarios, indicating the need for substantial pipeline capacity expansion for some of the existing network, and the importance of constructing new pipelines from particular supply to demand sites. If the pipeline constraint is overcame, Beijing, Shanghai, Jiangsu and Henan’s gas demand gap could potentially be filled, and China could thereby reduce almost 25% its dependency on LNG imports under the optimistic scenario.Keywords: energy policy, energy systematic analysis, scenario analysis, shale gas in China
Procedia PDF Downloads 2883881 Musically Yours: Impact of Social Media Advertisement Music per the Circadian Rhythm
Authors: Payal Bose
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The impact of music on consumers' attention and emotions at different parts of the day are rarely/never studied. Music has been widely studied in different parameters, such as in-store music and its atmospheric effects, to understand consumer arousal, in-store traffic, perceptions of visual stimuli, and actual time spent in the store. Further other parameters such as tempo, shopper's age, volume, music preference, and its usage as foreground or background music acting as a mediator and impacting consumer behavior is also well researched. However, no study has traversed the influence of music on social media advertisements and its impact on the consumer mind. Most studies have catered to the influence of music on consumers conscious. A recent study found that playing pleasant music is more effective on weekdays in enhancing supermarkets' sales than on weekends. This led to a more pertinent question about the impact of music on different parts of the day and how it impacts the attention and emotion in the consumers’ mind is an interesting question to be asked given the fact that there is a high usage of social media advertisement consumption in the recent past on a day-to-day basis. This study would help brands on social media to structure their advertisements and engage more consumers towards their products. Prior literature has examined the effects or influence of music on consumers largely in retail, brick-and-mortar format. Hence most of the outcomes are favorable for physical retail environments. However, with the rise of Web 3.0 and social media marketing, it would be interesting to see how consumers' attention and emotion can be studied with the effects of music embedded in an advertisement during different parts of the day. A smartphone is considered a personal gadget, and viewing social media advertisements on them is mostly an intimate experience. Hence in a social media advertisement, most of the viewing happens on a one-on-one basis between the consumer and the brand advertisement. To the best of our knowledge, little or no work has explored the influence of music on different parts of the day (per the circadian rhythm) in advertising research. Previous works on social media advertisement have explored the timing of social media posts, deploying Targeted Content Advertising, appropriate content, reallocation of time, and advertising expenditure. Hence, I propose studying advertisements embedded with music during different parts of the day and its influence on consumers' attention and emotions. To address the research objectives and knowledge gap, it is intended to use a neuroscientific approach using fMRI and eye-tracking. The influence of music embedded in social media advertisement during different parts of the day would be assessed.Keywords: music, neuromarketing, circadian rhythm, social media, engagement
Procedia PDF Downloads 653880 Corporate Social Responsibility in an Experimental Market
Authors: Nikolaos Georgantzis, Efi Vasileiou
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We present results from experimental price-setting oligopolies in which green firms undertake different levels of energy-saving investments motivated by public subsidies and demand-side advantages. We find that consumers reveal higher willingness to pay for greener sellers’ products. This observation in conjunction to the fact that greener sellers set higher prices is compatible with the use and interpretation of energy-saving behaviour as a differentiation strategy. However, sellers do not exploit the resulting advantage through sufficiently high price-cost margins, because they seem trapped into “run to stay still” competition. Regarding the use of public subsidies to energy-saving sellers we uncover an undesirable crowding-out effect of consumers’ intrinsic tendency to support green manufacturers. Namely, consumers may be less willing to support a green seller whose energy-saving strategy entails a direct financial benefit. Finally, we disentangle two alternative motivations for consumer’s attractions to pro-social firms; first, the self-interested recognition of the firm’s contribution to the public and private welfare and, second, the need to compensate a firm for the cost entailed in each pro-social action. Our results show the prevalence of the former over the latter.Keywords: corporate social responsibility, energy savings, public good, experiments, vertical differentiation, altruism
Procedia PDF Downloads 2583879 Social Media Marketing Efforts and Hospital Brand Equity: An Empirical Investigation
Authors: Abrar R. Al-Hasan
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Despite the widespread use of social media by consumers and marketers, empirical research investigating their economic value in the healthcare industry still lags. This study explores the impact of the use of social media marketing efforts on a hospital's brand equity and, ultimately, consumer response. Using social media data from Twitter and Facebook, along with an online and offline survey methodology, data is analyzed using logistic regression models. A random sample of (728) residents of the Kuwaiti population is used. The results of this study found that social media marketing efforts (SMME) in terms of use and validation lead to higher hospital brand equity and in turn, patient loyalty and patient visit. The study highlights the impact of SMME on hospital brand equity and patient response. Healthcare organizations should guide their marketing efforts to better manage this new way of marketing and communicating with patients to enhance their consumer loyalty and financial performance.Keywords: brand equity, healthcare marketing, patient visit, social media, SMME
Procedia PDF Downloads 1733878 Designing Ecologically and Economically Optimal Electric Vehicle Charging Stations
Authors: Y. Ghiassi-Farrokhfal
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The number of electric vehicles (EVs) is increasing worldwide. Replacing gas fueled cars with EVs reduces carbon emission. However, the extensive energy consumption of EVs stresses the energy systems, requiring non-green sources of energy (such as gas turbines) to compensate for the new energy demand caused by EVs in the energy systems. To make EVs even a greener solution for the future energy systems, new EV charging stations are equipped with solar PV panels and batteries. This will help serve the energy demand of EVs through the green energy of solar panels. To ensure energy availability, solar panels are combined with batteries. The energy surplus at any point is stored in batteries and is used when there is not enough solar energy to serve the demand. While EV charging stations equipped with solar panels and batteries are green and ecologically optimal, they might not be financially viable solutions, due to battery prices. To make the system viable, we should size the battery economically and operate the system optimally. This is, in general, a challenging problem because of the stochastic nature of the EV arrivals at the charging station, the available solar energy, and the battery operating system. In this work, we provide a mathematical model for this problem and we compute the return on investment (ROI) of such a system, which is designed to be ecologically and financially optimal. We also quantify the minimum required investment in terms of battery and solar panels along with the operating strategy to ensure that a charging station has enough energy to serve its EV demand at any time.Keywords: solar energy, battery storage, electric vehicle, charging stations
Procedia PDF Downloads 2233877 Illuminating the Policies Affecting Energy Security in Malaysia’s Electricity Sector
Authors: Hussain Ali Bekhet, Endang Jati Mat Sahid
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For the past few decades, the Malaysian economy has expanded at an impressive pace, whilst, the Malaysian population has registered a relatively high growth rate. These factors had driven the growth of final energy demand. The ballooning energy demand coupled with the country’s limited indigenous energy resources have resulted in an increased of the country’s net import. Therefore, acknowledging the precarious position of the country’s energy self-sufficiency, this study has identified three main concerns regarding energy security, namely; over-dependence on fossil fuel, increasing energy import dependency, and increasing energy consumption per capita. This paper discusses the recent energy demand and supply trends, highlights the policies that are affecting energy security in Malaysia and suggests strategic options towards achieving energy security. The paper suggested that diversifying energy sources, reducing carbon content of energy, efficient utilization of energy and facilitating low-carbon industries could further enhance the effectiveness of the measures as the introduction of policies and initiatives will be more holistic.Keywords: electricity, energy policy, energy security, Malaysia
Procedia PDF Downloads 3073876 Product Form Bionic Design Based on Eye Tracking Data: A Case Study of Desk Lamp
Authors: Huan Lin, Liwen Pang
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In order to reduce the ambiguity and uncertainty of product form bionic design, a product form bionic design method based on eye tracking is proposed. The eye-tracking experiment is designed to calculate the average time ranking of the specific parts of the bionic shape that the subjects are looking at. Key bionic shape is explored through the experiment and then applied to a desk lamp bionic design. During the design case, FAHP (Fuzzy Analytic Hierachy Process) and SD (Semantic Differential) method are firstly used to identify consumer emotional perception model toward desk lamp before product design. Through investigating different desk lamp design elements and consumer views, the form design factors on the desk lamp product are reflected and all design schemes are sequenced after caculation. Desk lamp form bionic design method is combined the key bionic shape extracted from eye-tracking experiment and priority of desk lamp design schemes. This study provides an objective and rational method to product form bionic design.Keywords: Bionic design; Form; Eye tracking; FAHP; Desk lamp
Procedia PDF Downloads 2293875 Precious Gold and Diamond Accessories Versus False Fashion Diamond and Stained Accessories
Authors: Amira Yousef Mahrous Yousef
Abstract:
This paper includes fast fashion verses sustainable fashion or slow fashion Indian based consumers. The expression ‘Fast fashion’ is generally referred to low-cost clothing collections that considered first hand copy of luxury brands, sometime interchangeably used with ‘mass fashion’. Whereas slow fashion or limited fashion which are consider to be more organic or eco-friendly. "Sustainable fashion is ethical fashion and here the consumer is just not design conscious but also social-environment conscious". Paper will deal with desire of young Indian consumer towards such luxury brands present in India, and their understanding of sustainable fashion, how to maintain the equilibrium between never newer fashion, style, and fashion sustainability. The green fashion market is growing rapidly as eco-friendly consumers are willing to expand their organic lifestyle to include clothing. With an increasing share of fashion consumers globally, Indian consumers are observed to consider the social and environmental ethics while making purchasing decisions. While some research clearly identifies the efforts of responsible consumers towards green fashion, some argue that fashion-orientated consumers who are sensitive towards environment do not actively participate towards supporting green fashion. This study aims to analyze the current perception of green fashion among Indian consumers. A small-scale exploratory study is conducted where consumers’ perception of green fashion is examined followed by an analysis of translation of this perception into purchase decision making. This research paper gives insight into consumer awareness on green fashion and provides scope towards the expansion of ethical fashion consumption .Keywords: inclusions, temperature gradient, HPHT synthetic fibers, polyamide fibers, fiber volume, compressive strength. gold nano clusters, copper ions, wool keratin, fluorescence
Procedia PDF Downloads 503874 A Geospatial Consumer Marketing Campaign Optimization Strategy: Case of Fuzzy Approach in Nigeria Mobile Market
Authors: Adeolu O. Dairo
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Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.Keywords: geospatial, geo-analytics, self-organizing map, customer-centric
Procedia PDF Downloads 1843873 Pricing, Production and Inventory Policies Manufacturing under Stochastic Demand and Continuous Prices
Authors: Masoud Rabbani, Majede Smizadeh, Hamed Farrokhi-Asl
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We study jointly determining prices and production in a multiple period horizon under a general non-stationary stochastic demand with continuous prices. In some periods we need to increase capacity of production to satisfy demand. This paper presents a model to aid multi-period production capacity planning by quantifying the trade-off between product quality and production cost. The product quality is estimated as the statistical variation from the target performances obtained from the output tolerances of the production machines that manufacture the components. We consider different tolerance for different machines that use to increase capacity. The production cost is estimated as the total cost of owning and operating a production facility during the planning horizon.so capacity planning has cost that impact on price. Pricing products often turns out to be difficult to measure them because customers have a reservation price to pay that impact on price and demand. We decide to determine prices and production for periods after enhance capacity and consider reservation price to determine price. First we use an algorithm base on fuzzy set of the optimal objective function values to determine capacity planning by determine maximize interval from upper bound in minimum objectives and define weight for objectives. Then we try to determine inventory and pricing policies. We can use a lemma to solve a problem in MATLAB and find exact answer.Keywords: price policy, inventory policy, capacity planning, product quality, epsilon -constraint
Procedia PDF Downloads 5693872 Optimal Pricing Based on Real Estate Demand Data
Authors: Vanessa Kummer, Maik Meusel
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Real estate demand estimates are typically derived from transaction data. However, in regions with excess demand, transactions are driven by supply and therefore do not indicate what people are actually looking for. To estimate the demand for housing in Switzerland, search subscriptions from all important Swiss real estate platforms are used. These data do, however, suffer from missing information—for example, many users do not specify how many rooms they would like or what price they would be willing to pay. In economic analyses, it is often the case that only complete data is used. Usually, however, the proportion of complete data is rather small which leads to most information being neglected. Also, the data might have a strong distortion if it is complete. In addition, the reason that data is missing might itself also contain information, which is however ignored with that approach. An interesting issue is, therefore, if for economic analyses such as the one at hand, there is an added value by using the whole data set with the imputed missing values compared to using the usually small percentage of complete data (baseline). Also, it is interesting to see how different algorithms affect that result. The imputation of the missing data is done using unsupervised learning. Out of the numerous unsupervised learning approaches, the most common ones, such as clustering, principal component analysis, or neural networks techniques are applied. By training the model iteratively on the imputed data and, thereby, including the information of all data into the model, the distortion of the first training set—the complete data—vanishes. In a next step, the performances of the algorithms are measured. This is done by randomly creating missing values in subsets of the data, estimating those values with the relevant algorithms and several parameter combinations, and comparing the estimates to the actual data. After having found the optimal parameter set for each algorithm, the missing values are being imputed. Using the resulting data sets, the next step is to estimate the willingness to pay for real estate. This is done by fitting price distributions for real estate properties with certain characteristics, such as the region or the number of rooms. Based on these distributions, survival functions are computed to obtain the functional relationship between characteristics and selling probabilities. Comparing the survival functions shows that estimates which are based on imputed data sets do not differ significantly from each other; however, the demand estimate that is derived from the baseline data does. This indicates that the baseline data set does not include all available information and is therefore not representative for the entire sample. Also, demand estimates derived from the whole data set are much more accurate than the baseline estimation. Thus, in order to obtain optimal results, it is important to make use of all available data, even though it involves additional procedures such as data imputation.Keywords: demand estimate, missing-data imputation, real estate, unsupervised learning
Procedia PDF Downloads 2893871 Precious Gold and Diamond Accessories Versus False Fashion Diamond and Stained Accessories
Authors: Felib Ayman Shawky Salem
Abstract:
This paper includes fast fashion verses sustainable fashion or slow fashion Indian based consumers. The expression ‘Fast fashion’ is generally referred to low-cost clothing collections that considered first hand copy of luxury brands, sometime interchangeably used with ‘mass fashion’. Whereas slow fashion or limited fashion which are consider to be more organic or eco-friendly. "Sustainable fashion is ethical fashion and here the consumer is just not design conscious but also social-environment conscious". Paper will deal with desire of young Indian consumer towards such luxury brands present in India, and their understanding of sustainable fashion, how to maintain the equilibrium between never newer fashion, style, and fashion sustainability. The green fashion market is growing rapidly as eco-friendly consumers are willing to expand their organic lifestyle to include clothing. With an increasing share of fashion consumers globally, Indian consumers are observed to consider the social and environmental ethics while making purchasing decisions. While some research clearly identifies the efforts of responsible consumers towards green fashion, some argue that fashion-orientated consumers who are sensitive towards environment do not actively participate towards supporting green fashion. This study aims to analyze the current perception of green fashion among Indian consumers. A small-scale exploratory study is conducted where consumers’ perception of green fashion is examined followed by an analysis of translation of this perception into purchase decision making. This research paper gives insight into consumer awareness on green fashion and provides scope towards the expansion of ethical fashion consumptionKeywords: diamond, inclusions, temperature gradient, HPHT synthetic fibers, polyamide fibers, fiber volume, compressive strength. gold nano clusters, copper ions, wool keratin, fluorescence
Procedia PDF Downloads 353870 Estimation of World Steel Production by Process
Authors: Reina Kawase
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World GHG emissions should be reduced 50% by 2050 compared with 1990 level. CO2 emission reduction from steel sector, an energy-intensive sector, is essential. To estimate CO2 emission from steel sector in the world, estimation of steel production is required. The world steel production by process is estimated during the period of 2005-2050. The world is divided into aggregated 35 regions. For a steel making process, two kinds of processes are considered; basic oxygen furnace (BOF) and electric arc furnace (EAF). Steel production by process in each region is decided based on a current production capacity, supply-demand balance of steel and scrap, technology innovation of steel making, steel consumption projection, and goods trade. World steel production under moderate countermeasure scenario in 2050 increases by 1.3 times compared with that in 2012. When domestic scrap recycling is promoted, steel production in developed regions increases about 1.5 times. The share in developed regions changes from 34 %(2012) to about 40%(2050). This is because developed regions are main suppliers of scrap. 48-57% of world steel production is produced by EAF. Under the scenario which thinks much of supply-demand balance of steel, steel production in developing regions increases is 1.4 times and is larger than that in developed regions. The share in developing regions, however, is not so different from current level. The increase in steel production by EAF is the largest under the scenario in which supply-demand balance of steel is an important factor. The share reaches 65%.Keywords: global steel production, production distribution scenario, steel making process, supply-demand balance
Procedia PDF Downloads 4523869 Hedonic Price Analysis of Consumer Preference for Musa spp in Northern Nigeria
Authors: Yakubu Suleiman, S. A. Musa
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The research was conducted to determine the physical characteristics of banana fruits that influenced consumer preferences for the fruit in Northern Nigeria. Socio-economic characteristics of the respondents were also identified. Simple descriptive statistics and Hedonic prices model were used to analyze the data collected for socio-economic and consumer preference respectively with the aid of 1000 structured questionnaires. The result revealed the value of R2 to be 0.633, meaning that, 63.3% of the variation in the banana price was brought about by the explanatory variables included in the model and the variables are: colour, size, degree of ripeness, softness, surface blemish, cleanliness of the fruits, weight, length, and cluster size of fruits. However, the remaining 36.7% could be attributed to the error term or random disturbance in the model. It could also be seen from the calculated result that the intercept was 1886.5 and was statistically significant (P < 0.01), meaning that about N1886.5 worth of banana fruits could be bought by consumers without considering the variables of banana included in the model. Moreover, consumers showed that they have significant preference for colours, size, degree of ripeness, softness, weight, length and cluster size of banana fruits and they were tested to be significant at either P < 0.01, P < 0.05, and P < 0.1 . Moreover, the result also shows that consumers did not show significance preferences to surface blemish, cleanliness and variety of the banana fruit as all of them showed non-significance level with negative signs. Based on the findings of the research, it is hereby recommended that plant breeders and research institutes should concentrate on the production of banana fruits that have those physical characteristics that were found to be statistically significance like cluster size, degree of ripeness,’ softness, length, size, and skin colour.Keywords: analysis, consumers, preference, variables
Procedia PDF Downloads 3443868 A Pedagogical Case Study on Consumer Decision Making Models: A Selection of Smart Phone Apps
Authors: Yong Bum Shin
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This case focuses on Weighted additive difference, Conjunctive, Disjunctive, and Elimination by aspects methodologies in consumer decision-making models and the Simple additive weighting (SAW) approach in the multi-criteria decision-making (MCDM) area. Most decision-making models illustrate that the rank reversal phenomenon is unpreventable. This paper presents that rank reversal occurs in popular managerial methods such as Weighted Additive Difference (WAD), Conjunctive Method, Disjunctive Method, Elimination by Aspects (EBA) and MCDM methods as well as such as the Simple Additive Weighting (SAW) and finally Unified Commensurate Multiple (UCM) models which successfully addresses these rank reversal problems in most popular MCDM methods in decision-making area.Keywords: multiple criteria decision making, rank inconsistency, unified commensurate multiple, analytic hierarchy process
Procedia PDF Downloads 82