Search results for: consumer Behavior
7346 Adolescents’ Role in Family Buying Decision Making
Authors: Harleen Kaur, Deepika Jindal Singla
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Buying decision making is a complicated process, in which consumer’s decision is under the impact of others. The buying decision making is directed in a way that they have to act as customers in the society. Media and family are key socialising agents for adolescents’. Moreover, changes in the socio-cultural environment in India necessitate that adolescents’ influence in family’s buying decision-making should be investigated. In comparison to Western society, Indian is quite different, when compared in terms of family composition and structure, behaviour, values and norms which effect adolescents’ buying decision-making.Keywords: adolescents, buying behavior, Indian urban families, consumer socialization
Procedia PDF Downloads 4817345 Level of Knowledge, Attitude, Perceived Behavior Control, Subjective Norm and Behavior of Household Solid Waste towards Zero Waste Management among Malaysian Consumer
Authors: M. J. Zuroni, O. Syuhaily, M. A. Afida Mastura, M. S. Roslina, A. K. Nurul Aini
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The impact of country development has caused an increase of solid waste. The increase in population causes of excess usage thus effecting the sustainable environment. Zero waste management involves maximizing practices of recycling and minimizing residual waste. This paper seeks to analyze the relationship between knowledge, attitude, perceived behavior control, subjective norm and behavior of household solid waste towards household solid waste management among urban households in 8 states that have been implemented and enforced regulations under the Solid Waste Management and Public Cleansing Act 2007 (Act 672) in Malaysia. A total of respondents are 605 and we used a purposive sampling for location and simple sampling for sample size. Data collected by using self-administered questionnaire and were analyzed using SPSS software. The Pearson Correlation Test is to examine the relationship between four variables. Results show that knowledge scores are high because they have an awareness of the importance of managing solid waste. For attitude, perceived behavior control, subjective norm and behavioral scores at a moderate level in solid waste management activities. The findings show that there is a significant relationship between knowledge and behavior of household solid waste (r = 0.136 **, p = 0.001), there is a significant relationship between attitude and behavior (r = 0.238 **, p = 0.000), there is a significant relationship between perceived behavior control and behavior (r = 0.516 **, p = 0.000) and there is a significant relationship between subjective norm and behavior (r = 0.494 **, p = 0.000). The conclusion is that there is a relationship between knowledge, attitude, perceived behavior control and subjective norm toward the behavior of household solid waste management. Therefore, in the findings of the study, all parties including the government should work together to enhance the knowledge, attitude, perceived behavior control and behavior of household solid waste management in other states that have not implemented and enforced regulations under the Solid Waste and Public Cleansing Management Act 2007 (Act 672).Keywords: solid waste management, knowledge, attitude, perceived behavior control, subjective norm, behavior
Procedia PDF Downloads 3367344 The Effects of Consumer Inertia and Emotions on New Technology Acceptance
Authors: Chyi Jaw
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Prior literature on innovation diffusion or acceptance has almost exclusively concentrated on consumers’ positive attitudes and behaviors for new products/services. Consumers’ negative attitudes or behaviors to innovations have received relatively little marketing attention, but it happens frequently in practice. This study discusses consumer psychological factors when they try to learn or use new technologies. According to recent research, technological innovation acceptance has been considered as a dynamic or mediated process. This research argues that consumers can experience inertia and emotions in the initial use of new technologies. However, given such consumer psychology, the argument can be made as to whether the inclusion of consumer inertia (routine seeking and cognitive rigidity) and emotions increases the predictive power of new technology acceptance model. As data from the empirical study find, the process is potentially consumer emotion changing (independent of performance benefits) because of technology complexity and consumer inertia, and impact innovative technology use significantly. Finally, the study presents the superior predictability of the hypothesized model, which let managers can better predict and influence the successful diffusion of complex technological innovations.Keywords: cognitive rigidity, consumer emotions, new technology acceptance, routine seeking, technology complexity
Procedia PDF Downloads 2967343 Determination of International Jurisdiction of Courts over Disputes Arising from Electronic Consumer Contracts
Authors: Aslihan Coban
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As a result of the rapid development of information communication technology, especially the internet, consumers have become an active party in commerce and in law. Consequently, the protection of consumers in cross-border contracts has become increasingly important. This paper is confined to the international jurisdiction of courts over disputes arising from electronic consumer contracts according to the ‘5718 Turkish Act on Private International Law and Civil Procedure’ and the ‘1215/2012 Council Regulation On Jurisdiction and The Recognition and Enforcement Of Judgments In Civil and Commercial Matters’ (Hereafter ‘Brussels I Regulation’). The international jurisdiction of courts for consumer contracts is recognized under both acts above-mentioned; however, there exist some differences between the said legal regulations. Firstly, while there is a specific provision for electronic consumer contracts in Brussels I Regulation, there is no specific provision in the Turkish Act. Secondly, under the Turkish Act, habitual residence, domicile, and workplace of the other party who is not a consumer are all accepted as jurisdiction elements; while domicile is the only jurisdiction element in Brussels I Regulation. Thirdly, the ability to make jurisdiction agreements in disputes arising from electronic consumer contracts is a controversial issue under the Turkish Act while it is explicitly regulated under Brussels I Regulation that such jurisdiction agreements can be concluded by complying with certain conditions.Keywords: Brussels I Regulation, electronic consumer contracts, jurisdiction, jurisdiction agreement
Procedia PDF Downloads 1627342 Analyzing the Commercialization of New Technology
Authors: Wen-Hsiang Lai, Mei-Wen Chen
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In the face of developing new technologies, identifying potential new technological product and the suitable market is important. Since laser technology is widely applied in many industries, this study explores the technology commercialization of laser technology. According to the literature review and industry analysis, this study discusses the factors influencing the consumer’s purchase intention and tries to find a new market direction to develop the laser technology. This study adopts a new product adoption model as the research framework and uses three variables of ‘Consumer characteristics’, ‘Perception of product attributes’ and ‘External environment’ to discuss the purchase intention of consumers, who are physicians and owners of the medical cosmetics. This study finds that in the major variable of ‘Consumer characteristics’, the sub-variables of ‘Personality’, ‘Knowledge of product’, ‘Perceived risk’ and ‘Motivation’ are significantly related to consumer’s purchase intention. In the major variable of ‘Perception of product attributes’, the sub-variables of ‘Brand’ and ‘Measure of manufacture country’ are the key factors that affect the willingness of consumer’s purchase intention. Finally, in the major variable of ‘External environment’ variable, the sub-variables of ‘Time’ and ‘Price’ have significant impact on consumer’s purchase intention.Keywords: technology commercialization, new product adoption, consumer’s purchase intention, laser technology
Procedia PDF Downloads 1967341 The Role of BPSK (Consumer Dispute Settlement Body) in the Monitoring of Standard Clause Inclusion within Indonesian Customer Protection Law
Authors: Deviana Yuanitasari
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The rapid development of world commerce and trade nowadays has created fast-paced demand in every business activities and transactions. That also includes the need for ready to use and practical form of standard contract. For the company or business owner, the use of standard contract is an alternative way to achieve economic goals faster, effectively and efficiently. In the other hand, for the consumer the practice of using standard contract usually unfavorable, because the contract clauses usually have been defined by the company and cannot be individually negotiated. That means consumer cannot influence the substances of the contract clauses. The purpose of this study is to get deeper understanding and analyze the role of Consumer Dispute Settlement Body in the monitoring of standard clause inclusion by businesses and industries within the context of practicing consumer protection law. Furthermore, this study will focus on the procedure of sanction and the effectiveness of the sanction for the business practitioners which disregard the inclusion of the prohibited standard clause. Therefore, this study will depict the law issues and other phenomenon that related with the role of Consumer Dispute Settlement Body in monitoring the inclusion of standard clause and procedure of sanction for the business practitioners that still use exemption clause within Consumer Protection Law System. This study results that BPSK has been assigned to monitor the inclusion of standard clause and settle consumer dispute. At this stage, BPSK role is passive, which means BPSK only takes an action if there are consumer complaints. The procedure of sanction is not part of BPSK tasks, since should there be a violation of standard clause; BPSK can only ask the business practitioners to remove the prohibited clause and not give a sanction. As a result, the procedure of sanction rule for the Standard Clause violation in this context can be considered as ineffective.Keywords: standard contract, standard clause, consumer protection law, consumer dispute settlement body
Procedia PDF Downloads 3357340 Consumer Behavior and Attitudes of Green Advertising: A Collaborative Study with Three Companies to Educate Consumers
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
Procedia PDF Downloads 877339 Influencer Endorsement: Consumer Purchase Intention in Social Media Marketing
Authors: Izian Idris, Melissa Ha, Mikkay Wong
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Social media marketing, including influencer marketing, is an ongoing phenomenon, and most companies as well as industries, are finding it crucial to implement social media marketing in their marketing strategies. However, social media influencer marketing still needs to be explored, and further research on this area needs to be carried out to fully understand the importance of social media influencer marketing in impacting consumer purchase decisions. Influencer endorsement has become a trend to grab users’ attention these days. Thus, the aim of this research paper is to explore the attributes of social media influencers/influencer as the endorser that impact consumer purchase intentions. The attributes that will be investigated include attitude homophily, physical attractiveness, and social attractiveness. Following this, the elaboration likelihood model from the theory of persuasion is implemented in this research to further examine the influence of social media influencer attributes on consumer purchase intentions. This study will be able to help marketers, businesses, and researchers understand the attributes of social media influencers as endorsers that will impact consumer purchase intentions and allow businesses to enhance their strategies to better cater to their target market.Keywords: influencer, endorsement, consumer purchase, social media
Procedia PDF Downloads 867338 The Use of Electronic Shelf Labels in the Retail Food Sector
Authors: Brent McKenzie, Victoria Taylor
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The use of QR (Quick Response Codes) codes for customer scanning with mobile phones is a rapidly growing trend. The QR code can provide the consumer with product information, user guides, product use, competitive pricing, etc. One sector for QR use has been in retail, through the use of Electronic Shelf Labeling (henceforth, ESL). In Europe, the use of ESL for pricing has been in practice for a number of years but continues to lag in acceptance in North America. Stated concerns include costs as a key constraint, but there is also evidence that consumer acceptance represents a limitation as well. The purpose of this study is to present the findings of a consumer based study to gage the impact on their use in the retail food sector.Keywords: electronic price labels, consumer behaviour, grocery shopping, mixed methods research
Procedia PDF Downloads 3387337 Protection and Education of Consumer Interest through Competition Laws: A Comparative Appraisal
Authors: Gurbinder Kaur
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It is notable that due to advanced technology and trends adopted by service providers to kill competition, the concept of ‘consumer interest’ is no longer limited to a domestic extent, but it is extended to extraterritorial limits. Therefore, the focus of this research work is to examine the regulation of consumer protection at the international level and its correspondence with the domestic laws of various countries. Consumer interest is tendered by various trade practices like pricing policies, financing practices, and quality of goods and services. Nowadays, the term ‘consumer’ is not limited merely to the person who consumes the goods and avails services as an end user. In fact, every individual is a consumer, regardless of occupation, age, gender, community or religious affiliation. The term ‘consumer’ would therefore include not only the consumer of the final product but also the consumer of raw material and intermediate products. Despite apparent variation among domestic laws of various countries, the veneer is almost the same, with the emphasis on purchasing, consuming or using goods or services. Thus, the definition of ‘consumer’ is widened to those of old laws while keeping in consideration the present scenario of the victimization of consumers and their exploitation or unfair advantages taken by the trading world. Moreover, Lack of awareness, illiteracy and consumer buying behaviour, ignorant behaviour or reluctance to take the initiative to check the problem or tolerance against trade tricks and frauds are some of the reasons behind the victimization of consumers. All governments must protect consumers from fraud, unfair trade tricks and practices from within and outside of their respective countries. This paper not only evaluates the modern concept of the consumer but also analyzes the consumer behaviour, rights and liabilities of consumers along with their protection through various corresponding laws of the governments of other nations. These laws empower competition regulatory authorities to enter into a memorandum or arrangement with the prior approval of their domestic Governments, with any relevant agency of any foreign country. For the said purpose, an overview has been made about comparative and critical analyses of the working of International Organizations in the form of treaties, covenants, conventions and reports submitted by international economists, experts and jurists internationally, which are crucial parts of today’s business jurisprudence (specifically relating to the consumer interest) of developed and developing countries. After analyzing them, the researcher has made an earnest attempt to encapsulate the chronological background of consumer jurisprudence along with current situations in various countries.Keywords: consumer interest, consumer education, trade, consumer protection
Procedia PDF Downloads 57336 Impact of Experience-Oriented Marketing on the Buying Behaviour of the Consumers: An Application in Konya
Authors: Ebru Esen, Omer Akkaya, Nattanan Pankrobkaew
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Though the experience concept found its place in the field of marketing in 1982, it is today in front of us as an important phenomenon in understanding the consumer behaviours. In parallel with the globalization and intensification of the competition, the enterprises have been in an effort to provide unique experiences for their consumers by going beyond providing services with the products. In this context, experience-oriented marketing enables the enterprises to use the marketing strategies of providing experiences for their customers and to have advantages in terms of competition. Based on it, this article discusses the concepts of experience, experience-oriented marketing and buying behaviour of consumers as a whole, and details about the application conducted in Konya Selcuklu University.Keywords: consumer behavior, experience, experience marketing, marketing
Procedia PDF Downloads 3677335 Understanding Consumer Recycling Behavior: A Literature Review of Motivational and Behavioral Aspects
Authors: Karin Johansson, Ola Johansson
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Recycling is an important aspect of a sustainable society and depends to a large extent on consumers’ willingness to provide the voluntary work needed to take the first critical step in many return logistics systems. Based on a systematic review of articles on recycling behavior, this paper presents and discusses the findings in relation to Fogg’s Behavioral Model (FBM). Through the analysis of a corpus of 72 articles, the most important research contributions on recycling behavior are summarized and discussed. The choice of using FBM as a framework provides a new way of viewing previous research findings, and aids in identifying knowledge gaps. Based on the review, this work identifies and discusses four areas of potential interest for future research.Keywords: recycling, reverse logistics, solid waste management, sustainability
Procedia PDF Downloads 1447334 Understanding the Complexities of Consumer Financial Spinning
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
Procedia PDF Downloads 497333 Increasing Preference for Culturally Incongruent Offerings in Traditional Cultures
Authors: Najam U. Saqib
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Self-construal or an individual’s view of him or herself is an important variable by which culture affects the way people think and act. This notion of self-construal is identified with two distinct perspectives on the self. Within the independent construal, the self is seen as different from others, a way of defining the self, prominent in Western societies. The interdependent perspective which is typical for Eastern cultures emphasizes the connectedness of the self to others. The degree of independence-interdependence in one’s self-construal is thought to affect behavior, acceptance of social values, and decision making. This paper manipulates self-construal of Qatari consumers and investigates its effects on accepting incongruent changes in culture as a result of adopting market offerings and behavior that may be perceived as inconsistent with their self-construal. The research recommends strategies for policy makers in Qatar for successful advocacy of initiatives of national importance such as reducing diabetes and obesity by applying self-construal theory.Keywords: cross-cultural, consumer behavior, self-construal, GCC (Gulf Cooperation Council)
Procedia PDF Downloads 1867332 The Role of Celebrity Endorser in Men's Grooming Communication
Authors: Susana Marques, Cleide Abreu
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Presently, more than ever, men’s grooming is seen as a broad category. The problem comes when the previous research about male consumer behavior have neglected some aspects in this subject. The purpose of this investigation is to examine the role of celebrity endorsement in men’s grooming communication to Generation Y. After identifying some gaps in the literature, with regard to this contemporary subject, the most important variables were defined in order to develop the investigation and draw conclusions through statistical analysis and validation, about the role celebrity endorsement as source of credibility in men’s grooming communication. According to the design and methodology, this research was sustained through in depth marketing analysis (secondary data), and primary data collection via online questionnaire, whereby 168 male respondents, from Brazil and Portugal, were exposed to some advertisement pieces in order to express their opinion and feelings. The findings reveal all the relationships among the variables, suggested by the literature, have occurred, presenting a significant relationship in terms of Source Credibility scale dimensions – attractiveness, trustworthiness and expertise. This paper aims to contribute to the existing literature with important conclusions about the role of celebrity endorsement and its credibility in men’s grooming advertisement.Keywords: communication, celebrity endorsement, men’s grooming, consumer behavior
Procedia PDF Downloads 2447331 The Need to Enhance Online Consumer Protection in KSA
Authors: Abdulrahman Aloufi
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E-commerce has evolved to become a functional and mainstream tool of global trading, including in the Kingdom of Saudi Arabia. Consequently, online consumers need protection just as much as consumers in the offline world. In 2019, the Ministry of Commerce in Saudi Arabia established a so-called ‘e-commerce law’; however, this law does not cover the court enforcement of contracts entered into by international vendors, so it is not applicable in cross-border situations. The purpose of this paper is to identify the gaps present in this new e-commerce law in Saudi Arabia.Keywords: consumer protection, e-commerce law, Saudi consumer, international vendor
Procedia PDF Downloads 1777330 Analysis of Consumer Preferences for Housing in Saudi Arabia
Authors: Mohammad Abdulaziz Algrnas, Emma Mulliner
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Housing projects have been established in Saudi Arabia, by both government and private construction companies, to meet the increasing demand from Saudi inhabitants across the country. However, the real estate market supply does not meet consumer preference requirements. Preferences normally differ depending on the consumer’s situation, such as the household’s sociological characteristics (age, household size and composition), resources (income, wealth, information and experience), tastes and priorities. Collecting information about consumer attitudes, preferences and perceptions is important for the real estate market in order to better understand housing demand and to ensure that this is met by appropriate supply. The aim of this paper is to identify consumer preferences for housing in Saudi Arabia. A quantitative closed-ended questionnaire was conducted with housing consumers in Saudi Arabia in order to gain insight into consumer needs, current household situation, preferences for a number of investigated housing attributes and consumers’ perceptions around the current housing problem. 752 survey responses were obtained and analysed in order to describe preferences for housing attributes and make comparisons between groups. Factor analysis was also conducted to identify and reduce the attributes. The results indicate a difference in preference according to the gender of the respondents and depending on their region of residence.Keywords: housing attributes, Saudi Arabia, consumer preferences, housing preferences
Procedia PDF Downloads 5427329 Consumer Welfare in the Platform Economy
Authors: Prama Mukhopadhyay
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Starting from transport to food, today’s world platform economy and digital markets have taken over almost every sphere of consumers’ lives. Sellers and buyers are getting connected through platforms, which is acting as an intermediary. It has made consumer’s life easier in terms of time, price, choice and other factors. Having said that, there are several concerns regarding platforms. There are competition law concerns like unfair pricing, deep discounting by the platforms which affect the consumer welfare. Apart from that, the biggest problem is lack of transparency with respect to the business models, how it operates, price calculation, etc. In most of the cases, consumers are unaware of how their personal data are being used. In most of the cases, they are unaware of how algorithm uses their personal data to determine the price of the product or even to show the relevant products using their previous searches. Using personal or non-personal data without consumer’s consent is a huge legal concern. In addition to this, another major issue lies with the question of liability. If a dispute arises, who will be responsible? The seller or the platform? For example, if someone ordered food through a food delivery app and the food was bad, in this situation who will be liable: the restaurant or the food delivery platform? In this paper, the researcher tries to examine the legal concern related to platform economy from the consumer protection and consumer welfare perspectives. The paper analyses the cases from different jurisdictions and approach taken by the judiciaries. The author compares the existing legislation of EU, US and other Asian Countries and tries to highlight the best practices.Keywords: competition, consumer, data, platform
Procedia PDF Downloads 1467328 Grounded Theory of Consumer Loyalty: A Perspective through Video Game Addiction
Authors: Bassam Shaikh, R. S. A. Jumain
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Game addiction has become an extremely important topic in psychology researchers, particularly in understanding and explaining why individuals become addicted (to video games). In previous studies, effect of online game addiction on social responsibilities, health problems, government action, and the behaviors of individuals to purchase and the causes of making individuals addicted on the video games has been discussed. Extending these concepts in marketing, it could be argued than the phenomenon could enlighten and extending our understanding on consumer loyalty. This study took the Grounded Theory approach, and found that motivation, satisfaction, fulfillments, exploration and achievements to be part of the important elements that builds consumer loyalty.Keywords: grounded theory, consumer loyalty, video games, video game addiction
Procedia PDF Downloads 5357327 Assessing Household Energy Savings and Consumer Behavior in Padang City
Authors: Prima Fithri, Lusi Susanti, Karin Bestarina
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Indonesia's electrification ratio is still around 80.1%, which means that approximately 19.9% of households in Indonesia have not been getting the flow of electrical energy. Household electricity consumptions in Indonesia are generally still dominated by the public urban. In the city of Padang, West Sumatera, Indonesia, about 94.10% are power users of government services (PLN). The most important thing of the issue is human resources efficient energy. Consumer behavior in utilizing electricity becomes significant. Intensive questioner survey, in-depth interview and statistical analysis are carried out to collect scientific evidences of the behavioral based changes instruments to reduce electricity consumption in household sector. The questioner was developed to include five factors assuming affect the electricity consumption pattern in household sector. They are: attitude, energy price, household income, knowledge and other determinants. The survey was carried out in Padang, West Sumatra Province Indonesia. About 210 questioner papers were proportionally distributed to households in 11 districts in Padang. Stratified sampling was used as a method to select respondents. The results show that the household size, income, payment methods and size of house are factors affecting electricity saving behavior in residential sector. Household expenses on electricity are strongly influenced by gender, type of job, level of education, size of house, income, payment method and level of installed power. These results provide a scientific evidence for stakeholders on the potential of controlling electricity consumption and designing energy policy by government in residential sector.Keywords: electricity, energy saving, household, behavior, policy
Procedia PDF Downloads 5277326 Understanding Risky Borrowing Behavior among Young Consumers: An Empirical Study
Authors: T. Hansen
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Many consumers are uncertain of what financial borrowing behavior may serve their interests in the best way. This is important since consumers’ risky financial decisions may not only negatively affect their short-term liquidity but may haunt them for years after they are made. Obviously, this is especially critical for young adults who often carry large amounts of student loans or credit card debt, which in turn may hinder their future ability to obtain financial healthiness. Even though factors such as financial knowledge, attitudes towards risk, gender, and motivations of borrowing, among others, are known to influence consumer borrowing behavior, no existing model comprehensibly describes the mechanisms behind young adults’ risky borrowing behavior. This is unfortunate since a better understanding of the relationships between such factors and young adults’ risky borrowing behavior may be of value to financial service providers and financial authorities aiming to improve young adults’ borrowing behavior. This research extends prior research by developing a conceptual framework for the purpose of understanding young adults’ risky borrowing behavior. The study is based on two survey samples comprising 488 young adults aged 18-25 who have not obtained a risky loan (sample 1) and 214 young adults aged 18-25 who already have obtained a risky loan (sample 2), respectively. The results suggest several psychological, sociological, and behavioral factors that may influence young adults’ intentional risky borrowing behavior, which in turn is shown to affect actualized risky borrowing behavior. We also found that the relationship between intentional risky borrowing behavior and actualized risky borrowing behavior is negatively moderated by perceived risk – but not by perceived complexity. In particular, the results of this study indicate that public policy makers, banks and financial educators should seek to eliminate less desirable social norms on how to behave financially. In addition, they should seek to enhance young adults’ risky borrowing perceived risk, thereby preventing that intentional risky borrowing behavior translates into actualized risky behavior.Keywords: financial services, risky borrowing behavior, young adults, financial knowledge, social norms, perceived risk, financial trust, public financial policy
Procedia PDF Downloads 2687325 The Role of Emotions in the Consumer: Theoretical Review and Analysis of Components
Authors: Mikel Alonso López
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The early eighties saw the rise of a new research trend in several prestigious journals, mainly articles that related emotions with the decision-making processes of the consumer, and stopped treating them as external elements. That is why we ask questions such as: what are emotions? Are there different types of emotions? What components do they have? Which theories exist about them? In this study, we will review the main theories and components of emotion analysing the cognitive factor and the different emotional states that are generally recognizable with a focus in the classic debate as to whether they occur before the cognitive process or the affective process.Keywords: emotion, consumer behaviour, feelings, decision making
Procedia PDF Downloads 3487324 An Analysis of Millennials Using Secondhand Clothing as an Ongoing Fashion Trend
Authors: Patricia Sumod
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There is a unique movement of fashion that features a trend around secondhand clothing. This is especially observed in the lifestyles of the millennials, where the concept of reusing apparel and accessories is noticeable and, therefore, slowly diminishing the high consumption of fast fashion and generating environmental awareness. This paper will focus on how this clothing trend influences and engages consumers in buying secondhand clothing and creating fashionable looks simultaneously. To further examine the millennials’ motivation towards consumption and using secondhand fashion, a concept as a trendsetter, this paper will take a closer look at their idea of concern for the environment. Considering second-hand clothing is a sustainable consumption practice, it will investigate the role of social influencers, trendsetters, and millennials in overall fashion consumption in this context. This study aims to understand how secondhand clothing and millennials differ from other consumers regarding the perception of fast-depleting natural resources, price sensitivity, vintage attachments, and psychographics. Secondly, the paper will also present the connection of emotion between millennials and secondhand clothing that may not be necessarily purchased but received. This study will reflect on the already identified influences in increased purchase behavior and an uncharted positive relationship between the consumer and the products. This behavior will further formulate into a habit by consumer segments, creating an expanded market for secondhand clothing. There is no definite indication that fast fashion will cease to exist, but slowing its rapid movement is an attempt to work toward a sustainable future. The conclusion will present possibilities for consumers to engage in C2C online interaction, thereby reinforcing a notable change in consumer behavior and attitude in contradiction to today’s extreme consumerism and willingness to be adaptable to a minimalist way of life. Fashion brands will then begin a new forecast to actively accommodate the new millennial concept of fashion that will advertise more concern than insatiability. The research will be with literature from various authors, insights provided by researchers on this new wave of consumers, and a qualitative approach with face-to-face interviews with a sample group who are in the practice of secondhand clothing consumption.Keywords: second-hand clothing, millennials, sustainability, consumption practice, fashion environment.
Procedia PDF Downloads 617323 Individualism/Collectivism and Extended Theory of Planned Behavior
Authors: Ela Ari, Aysi̇ma Findikoglu
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Consumers’ switching GSM operators’ has been an important research issue since the rise of their competitive offers. Recent research has looked at consumer switching behavior through the theory of planned behavior, but not yet extended the theory with identity, psycho-social and cultural influences within the service context. This research explores an extended version of the theory of planned behavior including social and financial risks and brand loyalty. Moreover, the role of individualism and collectivism at the individual level is investigated in a collectivistic culture that moves toward to individualism due to changing family relationships, use of technology and education. Our preliminary analysis showed that financial risk and vertical individualism prove to be a significant determinant of intention to switch. The study also investigates social risk and intention, subjective norm, perceived behavioral control relationship. The effect of individualism and collectivism and attitudes relationship has been also examined within a service industry. Implications for marketing managers and scholars are also discussed.Keywords: attitude, individualism, intention, subjective norm
Procedia PDF Downloads 4607322 The Research of Culture Heritage Tourism Loyalty in Taiwan
Authors: Chih-Wen Wu
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This study examines the antecedents of heritage tourism loyalty and its relation to destination image, consumer travel experience, and destination satisfaction in the tourism context. In this respect, a number of important questions concerning how destination image, consumer travel experience, and destination satisfaction impact destination loyalty are raised. This study attempts to identify three key antecedents of loyalty in the heritage context. The author empirically tests predicted relationships by using personal interview data from 475 foreign tourists. The conceptual model investigated the relevant relationships among the constructs by using confirmatory factor analysis(CFA) and structural equation modeling (SEM) approach. Findings from the research sample support the argument that destination image, consumer travel experience, destination satisfaction are the key determinants of destination loyalty. Destination image and consumer travel experience influence destination satisfaction. The author also discusses theoretical and managerial implications of research findings for marketing the heritage globally.Keywords: heritage, destination loyalty, destination image, consumer travel experience, destination satisfaction, tourism
Procedia PDF Downloads 4447321 Pricing Strategy in Marketing: Balancing Value and Profitability
Authors: Mohsen Akhlaghi, Tahereh Ebrahimi
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Pricing strategy is a vital component in achieving the balance between customer value and business profitability. The aim of this study is to provide insights into the factors, techniques, and approaches involved in pricing decisions. The study utilizes a descriptive approach to discuss various aspects of pricing strategy in marketing, drawing on concepts from market research, consumer psychology, competitive analysis, and adaptability. This approach presents a comprehensive view of pricing decisions. The result of this exploration is a framework that highlights key factors influencing pricing decisions. The study examines how factors such as market positioning, product differentiation, and brand image shape pricing strategies. Additionally, it emphasizes the role of consumer psychology in understanding price elasticity, perceived value, and price-quality associations that influence consumer behavior. Various pricing techniques, including charm pricing, prestige pricing, and bundle pricing, are mentioned as methods to enhance sales by influencing consumer perceptions. The study also underscores the importance of adaptability in responding to market dynamics through regular price monitoring, dynamic pricing, and promotional strategies. It recognizes the role of digital platforms in enabling personalized pricing and dynamic pricing models. In conclusion, the study emphasizes that effective pricing strategies strike a balance between customer value and business profitability, ultimately driving sales, enhancing brand perception, and fostering lasting customer relationships.Keywords: business, customer benefits, marketing, pricing
Procedia PDF Downloads 797320 Music Piracy Revisited: Agent-Based Modelling and Simulation of Illegal Consumption Behavior
Authors: U. S. Putro, L. Mayangsari, M. Siallagan, N. P. Tjahyani
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National Collective Management Institute (LKMN) in Indonesia stated that legal music products were about 77.552.008 unit while illegal music products were about 22.0688.225 unit in 1996 and this number keeps getting worse every year. Consequently, Indonesia named as one of the countries with high piracy levels in 2005. This study models people decision toward unlawful behavior, music content piracy in particular, using agent-based modeling and simulation (ABMS). The classification of actors in the model constructed in this study are legal consumer, illegal consumer, and neutral consumer. The decision toward piracy among the actors is a manifestation of the social norm which attributes are social pressure, peer pressure, social approval, and perceived prevalence of piracy. The influencing attributes fluctuate depending on the majority of surrounding behavior called social network. There are two main interventions undertaken in the model, campaign and peer influence, which leads to scenarios in the simulation: positively-framed descriptive norm message, negatively-framed descriptive norm message, positively-framed injunctive norm with benefits message, and negatively-framed injunctive norm with costs message. Using NetLogo, the model is simulated in 30 runs with 10.000 iteration for each run. The initial number of agent was set 100 proportion of 95:5 for illegal consumption. The assumption of proportion is based on the data stated that 95% sales of music industry are pirated. The finding of this study is that negatively-framed descriptive norm message has a worse reversed effect toward music piracy. The study discovers that selecting the context-based campaign is the key process to reduce the level of intention toward music piracy as unlawful behavior by increasing the compliance awareness. The context of Indonesia reveals that that majority of people has actively engaged in music piracy as unlawful behavior, so that people think that this illegal act is common behavior. Therefore, providing the information about how widespread and big this problem is could make people do the illegal consumption behavior instead. The positively-framed descriptive norm message scenario works best to reduce music piracy numbers as it focuses on supporting positive behavior and subject to the right perception on this phenomenon. Music piracy is not merely economical, but rather social phenomenon due to the underlying motivation of the actors which has shifted toward community sharing. The indication of misconception of value co-creation in the context of music piracy in Indonesia is also discussed. This study contributes theoretically that understanding how social norm configures the behavior of decision-making process is essential to breakdown the phenomenon of unlawful behavior in music industry. In practice, this study proposes that reward-based and context-based strategy is the most relevant strategy for stakeholders in music industry. Furthermore, this study provides an opportunity that findings may generalize well beyond music piracy context. As an emerging body of work that systematically constructs the backstage of law and social affect decision-making process, it is interesting to see how the model is implemented in other decision-behavior related situation.Keywords: music piracy, social norm, behavioral decision-making, agent-based model, value co-creation
Procedia PDF Downloads 1887319 Consumer Choice Determinants in Context of Functional Food
Authors: E. Grochowska-Niedworok, K. Brukało, M. Kardas
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The aim of this study was to analyze and evaluate the consumption of functional food by consumers by: age, sex, formal education level, place of residence and diagnosed diseases. The study employed an ad hoc questionnaire in a group of 300 inhabitants of Upper Silesia voivodship. Knowledge of functional food among the group covered in the study was far from satisfactory. The choice of functional food was of intuitive character. In addition, the group covered was more likely to choose pharmacotherapy instead of diet-related prevention then, which can be associated with presumption of too distant effects and a long period of treatment.Keywords: consumer choice, functional food, healthy lifestyle, consumer knowledge
Procedia PDF Downloads 2587318 Hiding Power of the Scent in Marketing and New Marketing Strategy: The Scent Marketing
Authors: Shahram Keshavarzi
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Today, getting good service, having a good time, and leaving the company with good feelings are importanttforbothcustomers and businesses. It has been observed that when customersareexposedtopleasantsmells, their visit times increase by 26%, and theyvisittheaislesfor 3 times longer. Byusingtheeffect of scents on people, it is toensurethatcustomersshopmore, benefit from the service and be satisfied. Intoday'sresearch, visual memory can be 40% effective after a period of 4 months, whileolfactorymemory is 60% moreeffectiveevenafter 1 year. The purpose of the research is thehiddenandeffectivepower of skepticism in the behavior of consumersandtheeffectivestrategy of modern marketing. Special scentsdirectlyaffecttheincrease in sales by influencing the customer's-decision mechanism in purchasing products.Keywords: modern marketing strategy, scent, scent marketing, consumer behavior
Procedia PDF Downloads 1567317 Hybrid Model of an Increasing Unique Consumer Value on Purchases that Influences the Consumer Loyalty and the Pursuit of a Sustainable Competitive Advantage from the Institutions in Jakarta
Authors: Wilhelmus Hary Susilo
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The marketplace would have at least some resources that are unique (e.g., well communication, knowledgeable employees, consumer value, effective transaction, efficient production processes and institutional branding). The institutions should have an advantage in resources and then could lead to positions of competitive advantage. These major challenges focus on increasing unique consumer value on reliable purchases that influence of loyalty and pursuit of a sustainable competitive advantage from the Institutions in Jakarta. Furthermore, a research was conducted with a quantitative method and a confirmatory strategic research design. The research resulted in entire confirmatory factors analysis (1st CFA and 2nd CFA) among variables pertains to; χ2//Df (9.30, 4.38, 6.95, 2.76, 2.97, 2.91, 2.32 and 6.90), GFI (0.72, 0.82, 0.82, 0.81, 0.78, 0.84, 0.89 and 0.70) and CFI (0.90, 0.95, 0.93, 0.92, 0.95, 0.91, 0.96 and 0.89), which indicates a good model. Furthermore, the hybrid model is well fit with, χ2//Df=1.84, P value = 0.00, RMSEA = 0.076, GFI = 0.76, NNFI= 0.95, PNFI= 0.82, IFI= 0.96, RFI= 0.91, AGFI= 0.71 and CFI= 0.96. The result was significant hypothesis, i.e. variables of communitization marketing 3.0 and price perception influenced to unique value of consumer with tvalue =4.46 and 5.89. Furthermore, the consumers value influenced the purchasing with t value = 5.94. Additionally, the loyalty, the ‘communitization’, and the character building marketing 3.0 are affecting the pursuit of a sustainable competitive advantage from institutions with t value = 7.57, -2.12, and 2.04. Finally, the test between the most superior variable dimensions is significantly correlated between INOV and WDES, RESPON and ATT covariance matrix value= 0.72 and 0.71. Thus, ‘communitization’ and character building marketing 3.0 with dimensions of responsibility and technologies would increase a competitive advantage with the dimensions of the innovation and the job design from the institutions.Keywords: consumer loyalty, marketing 3.0, unique consumer value, purchase, sustainable competitive advantage
Procedia PDF Downloads 285