Search results for: consumer capitalism

Authors: I. Gupta, N. Setia

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

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

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Authors: Nnedum Obiajuru Anthony Ugochukwu, Emmanuel Ezechukwu

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

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

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

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

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

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Authors: Tithdanin Chav, Phichhang Ou

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

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

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Authors: Samuel I. Becher, Tal Z. Zarsky

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The digital world becomes part of our DNA now. The way e-commerce, human behavior, and law interact and affect one another is rapidly and significantly changing. Among others things, the internet equips consumers with a variety of platforms to share information in a volume we could not imagine before. As part of this development, online information flows allow consumers to learn about businesses and their contracts in an efficient and quick manner. Consumers can become informed by the impressions that other, experienced consumers share and spread. In other words, consumers may familiarize themselves with the contents of contracts through the experiences that other consumers had. Online and offline, the relationship between consumers and businesses are most frequently governed by consumer standard form contracts. For decades, such contracts are assumed to be one-sided and biased against consumers. Consumer Law seeks to alleviate this bias and empower consumers. Legislatures, consumer organizations, scholars, and judges are constantly looking for clever ways to protect consumers from unscrupulous firms and unfair behaviors. While consumers-businesses relationships are theoretically administered by standardized contracts, firms do not always follow these contracts in practice. At times, there is a significant disparity between what the written contract stipulates and what consumers experience de facto. That is, there is a crucial gap (“the Gap”) between how firms draft their contracts on the one hand, and how firms actually treat consumers on the other. Interestingly, the Gap is frequently manifested by deviation from the written contract in favor of consumers. In other words, firms often exercise lenient approach in spite of the stringent written contracts they draft. This essay examines whether, counter-intuitively, policy makers should add firms’ leniency to the growing list of firms suspicious behaviors. At first glance, firms should be allowed, if not encouraged, to exercise leniency. Many legal regimes are looking for ways to cope with unfair contract terms in consumer contracts. Naturally, therefore, consumer law should enable, if not encourage, firms’ lenient practices. Firms’ willingness to deviate from their strict contracts in order to benefit consumers seems like a sensible approach. Apparently, such behavior should not be second guessed. However, at times online tools, firm’s behaviors and human psychology result in a toxic mix. Beneficial and helpful online information should be treated with due respect as it may occasionally have surprising and harmful qualities. In this essay, we illustrate that technological changes turn the Gap into a key component in consumers' understanding, or misunderstanding, of consumer contracts. In short, a Gap may distort consumers’ perception and undermine rational decision-making. Consequently, this essay explores whether, counter-intuitively, consumer law should sanction firms that create a Gap and use it. It examines when firms’ leniency should be considered as manipulative or exercised in bad faith. It then investigates whether firms should be allowed to enforce the written contract even if the firms deliberately and consistently deviated from it.

Keywords: consumer contracts, consumer protection, information flow, law and economics, law and technology, paper deal v firms' behavior

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Authors: Sumit Banerjee, Chandan Kumar Chanda

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

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

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

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

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

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Authors: Safia Hasan Varachhia, Neela Badrie, Marsha Singh

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

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

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Authors: Amy Whelan

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

Keywords: aviation, consumer behaviour, marketing, sustainability

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

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

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

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

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

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

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

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

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

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Authors: Olivier Mesly

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

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

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Authors: Prisecaru Diana-Sorina

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

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

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Authors: Mikel Alonso López

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

Keywords: decision making, emotions, fMRI, consumer behaviour

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Authors: Inka Maria Vilhelmiina Hiltunen

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The crisis of liberal democracy has been recognized from many sites of political literature; scholars of Marxist critical political economy and deliberative democracy, as well as critics of neoliberalism, have become concerned about how either the rise of populism and authoritarianism, institutional decline or the overarching economic rationality erode political democratic citizenship in favor of economic technocracy or conservative protectionism. However, even if these bodies of literature recognize the generalized crisis that haunts Western democracies, dialogue between them has been very limited. That said, drawing from contemporary Marxist perspectives, this article aims at bridging the gap between the criticism of neoliberalism and theories of deliberative democracy. The first section starts by outlining what is meant by neoliberalism, liberal democracy, and the crisis of liberal democracy. The next section explores how contemporary capitalism acts upon society and transforms it. It introduces Jurgen Habermas’ thesis of the ‘colonization of the lifeworld’, Wendy Brown’s analysis of neoliberal rationality and Étienne Balibar’s concepts of ‘absolute capitalism’ and ‘total subsumption,’ that the essay aims at connecting in the last section. The third section is concerned with the deliberative democratic theory and practice. The section highlights the qualitative socio-political impacts of deliberation, as predicted by theorists and shown by empirical studies. The last section draws from contemporary Marxist perspectives to examine the question if deliberative democratic theories and practices can resolve the crisis of liberal democracy in the current financially driven era of neoliberal capitalism. By asking this question, the essay aims to consider what is required to reverse the current global trend of rising inequality. If liberal democracy has declined towards commodified and reactionary forms of politics and if ‘market rationality’ has shaped social agency to the extent that politicians and the public struggle to imagine ‘any alternatives’, the most urgent political task is to bring to life a new political imagination based on democratic ideals of equality, inclusivity, reciprocity, and solidarity, that thereby enables the revision of the transnational institutional design. This part focuses on the hegemonic role of finance and money. The essay concludes by stating that the implementation of substantive global democracy must start from the dissolution of the hegemony of finance, centered on U.S., and from the remaking of the conditions of socioeconomic reproduction world-wide. However, given the still present overarching neoliberal status quo, the essay is skeptical of the ideological feasibility of this remaking.

Keywords: deliberative democracy, criticism of neoliberalism, marxist political economy, crisis of liberal democracy

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

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

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

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Authors: Tom Turner

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The recent financial crisis in 2008 and the growing inequality in developed industrial societies would appear to present significant challenges to capitalism and the free market. Yet there have been few substantial mainstream political or economic challenges to the dominant capitalist and market paradigm to-date. There is no dearth of critical and theoretical (academic) analyses regarding the prevailing systems failures. Yet despite the growing inequality in the developed industrial societies and the financial crisis in 2008 few commentators have advocated the comprehensive socialization or state ownership of the means of production to our knowledge – a core principle of radical Marxism in the 19th and early part of the 20th century. Undoubtedly the experience in the Soviet Union and satellite countries in the 20th century has cast a dark shadow over the notion of centrally controlled economies and state ownership of the means of production. In this paper, we explore the history of a doctrine advocating the socialization or state ownership of the means of production that was central to Marxism and socialism generally. Indeed this doctrine provoked an intense and often acrimonious debate especially for left-wing parties throughout the 20th century. The debate within the political economy tradition has historically tended to divide into a radical and a revisionist approach to changing or reforming capitalism. The radical perspective views the conflict of interest between capital and labor as a persistent and insoluble feature of a capitalist society and advocates the public or state ownership of the means of production. Alternatively, the revisionist perspective focuses on issues of distribution rather than production and emphasizes the possibility of compromise between capital and labor in capitalist societies. Over the 20th century, the radical perspective has faded and even the social democratic revisionist tradition has declined in recent years. We conclude with the major challenges that confront both the radical and revisionist perspectives in the development of viable policy agendas in mature developed democratic societies. Additionally, we consider whether state ownership of the means of production still has relevance in the 21st century and to what extent state ownership is off the agenda as a political issue in the political mainstream in developed industrial societies. A central argument in the paper is that state ownership of the means of production is unlikely to feature as either a practical or theoretical solution to the problems of capitalism post the financial crisis among mainstream political parties of the left. Although the focus here is solely on the shifting views of the radical and revisionist socialist perspectives in the western European tradition the analysis has relevance for the wider socialist movement.

Keywords: sate ownership, ownership means of production, radicals, revisionists

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Authors: Siti Dewi Aisyah

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

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

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Authors: Zoaib Mirza

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Pakistan is an Islamic country that got its partition from India in 1947 so that the people could practice the religion of Islam. The ideology of Pakistan was based on the notion that sovereignty only belonged to God Almighty (in Arabic, God means “Allah”), and Muslims will live in accordance with Islam principles. The Quran (Holy Book) and Sunnah (authentic practices of Prophet Mohammad, Peace Be Upon Him, that explains the application of the Quran) are foundations of the Islamic principles. It has been over 75 years, but unfortunately, Pakistan, due to its own political, social, and economic mistakes, is responsible for not being able to become a true Islamic nation to justify its partition from India. The rationale for writing this paper is to analyze the factors that led to changes in the democratic movements impacting the country's political, social, and economic growth. The methodology to examine the historical and political context of Pakistan’s history is by referencing the scholarly work of Israr Ahmed, a Pakistani Islamic theologian, philosopher, and Islamic scholar. While from a Western perspective, Karl Marx, Mar Weber, Hannah Arendt, Sheldon Wolin, Paulo Freire, and Jacques Ranciere's philosophies specific to totalitarianism, politics, military rule, religion, capitalism, and superpower are used as the framework to analyze Pakistan’s democracy. The study's findings conclude that Pakistan's democracy is unstable and has been impacted by military and civilian governance, which led to political, social, and economic downfall. To improve the current situation, the citizens of Pakistan have to realize that the success of a nation is only dependent on the level of consciousness of the leader and not the political system. Therefore, it is the responsibility of every citizen to be conscious of how they select their leader and take responsibility for the current situation in Pakistan.

Keywords: Pakistan, Islam, democracy, totalitarianism, military, religion, capitalism

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

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

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

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Authors: Warunpun Kongsom, Chaiwat Kongsom

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The objective of this study was to investigate the awareness, knowledge and consumer behavior towards organic products in Thailand. For this study, a purposive sampling technique was used to identify a sample group of 2,575 consumers over the age of 20 years who intended or made purchases from 1) green shops; 2) supermarkets with branches; and, 3) green markets. A questionnaire was used for data collection across the country. Descriptive statistics were used for data analysis. The results showed that more than 92% of consumers were aware of organic agriculture, but had less knowledge about it. More than 60% of consumers knew that organic agriculture production and processing did not allow the use of chemicals. And about 40% of consumers were confused between the food safety logo and the certified organic logo, and whether GMO was allowed in organic agriculture practice or not. In addition, most consumers perceived that organic agricultural products, good agricultural practice (GAP) products, agricultural chemicals free products, and hydroponic vegetable products had the same standard. In the view of organic consumers, the organic Thailand label was the most seen and reliable among various organic labels. Less than 3% of consumers thought that the International Federation of Organic Agriculture Movements (IFOAM) Global Organic Mark (GOM) was the most seen and reliable. For the behaviors of organic consumers, they purchased organic products mainly at the supermarket and green shop (55.4%), one to two times per month, and with a total expenditure of about 200 to 400 baht each time. The main reason for buying organic products was safety and free from agricultural chemicals. The considered factors in organic product selection were price (29.5%), convenience (22.4%), and a reliable certification system (21.3%). The demands for organic products were mainly rice, vegetables and fruits. Processed organic products were relatively small in quantity.

Keywords: consumer behavior, consumer knowledge, organic products, Thailand

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Authors: Sutharsini Jesuthasan, N. Umakanth

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Presently the impact of electronic word of mouth on consumer’s purchasing intentions very popular one for a long time period. Even though now this E-WOM got a new evolution through social media. Before this new concept, general people were able to speak with any people on the internet. But likely social media enable people to talk with colleagues, friends and other people on the internet. Meanwhile, this new path way of E-WOM might be more powerful in terms of confusing purchase intention. And negative side of E-WOM very important in this competitive era. So, this study elaborates the negative E-WOM within the context of social media such as face book. And especially this study identifies the influence of negative E-WOM in social media on consumer’s purchase intention. Virtual snowball sampling method was used by researcher to identify the hidden population. Finally, spss 20.0 also used for data analysis purpose. And conclusion and recommendations are given based on the findings. And this research also will support to both parties such as researcher and participants.

Keywords: word of mouth, social media, purchase intention, electronic word of mouth

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Authors: Sabri Gabran Mohammed Elkrghli, Salah A. Mohamed Abdulgader

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Given the emergence and the spreading of the Covid-19 pandemic that swept the globe, it was necessary to address the issue of consumer rights in such unprecedented circumstances. Libyan consumers have been targeted in this study with the aim to measure their attitudes towards the extent to which their rights, as consumers of foodstuff, have been secured during the Covid-19 pandemic. The recommended sample size was randomly selected (384) local participants. Out of this number, only a validated number of (267) responses were deemed valid for the analysis phase. The instrument of this research was developed based on the extant published literature on consumer rights. The study concluded with a set of key results; the most important result is that consumer rights of foodstuffs were below the satisfactory level. Theoretical and practical implications have emerged from the study. The most important implication is that customers of foodstuffs need more protection in Libya. This issue should be given greater importance, especially in the light of contemporary environmental challenges such as the outbreak of Covid-19. Designing and conducting global and local awareness campaigns is another significant advice suggested by this study. Finally, the research concluded with limitations and put forward some future avenues.

Keywords: consumers rights, foodstuffs, COVID-19, Libya

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Authors: Sudarsan Jayasingh, R. Venkatesh

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Increasing number of customers gets connected to social networking sites, such as Facebook and Twitter to details about the brand communications. This survey, based on a convenience sample, aimed to find the reason for the participants to like Facebook fan pages, how often they visit and interact with the pages that they like, and how is it related with their purchase behaviour. 104 respondents completed the online survey. Overall, the study aimed at determining whether or not creating and maintaining a Facebook fan page is a beneficial tool for brands to communicate with their consumer base.

Keywords: facebook brand pages, social media, consumer engagement, digital engagement, purchase behaviour

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Authors: Pradeep Peiris, Hasini Lecamwasam

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The fluid, ambiguous, and often elusive existence of caste among the Sinhalese in Sri Lanka has inspired many scholarly endeavours. Originally, Sinhalese caste was organized according to the occupational functions assigned to various groups in society. Hence cultivators came to be known as Goyigama, washers Dobi, drummers Berava, smiths Navandanna and so on. During pre-colonial times the specialized services of various groups were deployed to build water reservoirs, cultivate the land, and/or sustain the Buddhist order by material means. However, as to how and why caste prevails today in Sinhalese society when labour is in ideal terms free to move where it wants, or in other words, occupation is no longer strictly determined or restricted by birth, is a question worth exploring. Hence this paper explores how, and perhaps more interestingly why, when the nexus between traditional occupations and caste status is fast disappearing, caste itself has managed to survive and continues to be salient in politics in Sri Lanka. In answer to this larger question, the paper looks at caste from three perspectives: 1) Buddhism, whose ethical project provides a justification of social stratifications that transcends economic bases 2) Capitalism that has reactivated and reproduced archaic relations in a process of 'accumulation by subordination', not only by reinforcing the marginality of peripheral caste groups, but also by exploiting caste divisions to hinder any realization of class interests and 3) Democracy whose supposed equalizing effect expected through its ‘one man–one vote’ approach has been subverted precisely by itself, whereby the aggregate ultimately comes down to how many such votes each ‘group’ in society has. This study draws from field work carried out in Dedigama (in the District of Kegalle, Central Province) and Kelaniya (in the District of Colombo, Western Province) in Sri Lanka over three years. The choice of field locations was encouraged by the need to capture rural and urban dynamics related to caste since caste is more apparently manifest in rural areas whose material conditions partially warrant its prevalence, whereas in urban areas it exists mostly in the ideological terrain. In building its analysis, the study has employed a combination of objectivist and subjectivist approaches to capture the material and ideological existence of caste and caste politics in Sinhalese society. Therefore, methods such as in-depth interviews, observation, and collection of demographical and interpretive data from secondary sources were used for this study. The paper has been situated in a critical theoretical framework of social inquiry in an attempt to question dominant assumptions regarding such meta-labels as ‘Capitalism’ and ‘Democracy’, and also the supposed emancipatory function of religion (focusing on Buddhism).

Keywords: Buddhism, capitalism, caste, democracy, Sri Lanka

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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

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Authors: Anna Triwijayati, Etsa Astridya Setiyati, Titik Desi Harsoyo

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Culture is the important determinant of human behavior and desire. Culture influences the consumer through the norms and values established by the society in which they live and reflect it. The cultural values of Javanese society certainly have united in the Javanese society behavior in consumption. This research is expected to give big enough theoretical benefits in the findings of cultural value in consumption in Javanese society. These can be an incentive in finding the local cultural value in many tribes in Indonesia, so one time, the local cultural value in Indonesia about consumption can be fundamental part in education and consumption practice in Indonesia. The approach used in this research is non positivist research or is known as qualitative approach. The method or type of research used in this research is ethnomethodology. The collection data is done in Central Java region. The research subject or informant is determined by the purposive technique by certain criteria determined by the researcher. The data is collected by deep interview and observation. Before the data analysis, the researcher does the storing method data stage and implements the data validity procedures. Then, the data is analyzed by the theme and interactive analysis technique. The Javanese Mataraman society has such consumption values such as has to be sufficient, be careful, economical, submit to the one who creates the life, the way life flow, and the present problem is thought in the present also. In the financial management for consumption, the consumer should have the simple life principles, has to be sufficient, has to be able to eat, has to be able to self-press, well-managed/diligent/accurate/careful, the open or transparent management, has the struggle effort, like to self-sacrifice and think about the future. The meaning of consumption value in family is centered to the submission and full-trust to God. These consumption values are applied in consumer behavior in self, family, investment and credit need in short term and long term perspective.

Keywords: values, consumer, consumption, Javanese Mataraman, ethnomethodology

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Authors: Bundit Pungnirund

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This research aimed to study the relationship between marketing mix attitudes, motivation of buying decision and tendency of consumer decision making in buying the condominiums in Thailand. This study employed by survey and quantitative research. The questionnaire was used to collect the data from 400 sampled of customers who interested in buying condominium in Bangkok. The descriptive statistics and Pearson’s correlation coefficient analysis were used to analyze data. The research found that marketing mixed factors in terms of product and price were related to buying decision making tendency in terms of price and room size. Marketing mixed factors in terms of price, place and promotion were related to buying decision making tendency in term of word of mouth. Consumers’ buying motivation in terms of social acceptance, self-esteemed and self-actualization were related to buying decision making tendency in term of room size. In addition, motivation in self-esteemed was related to buying decision making tendency within a year.

Keywords: condominium, marketing mix, motivation, tendency of consumer decision making

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Authors: Jacob Hornik, Matti Rachamim, Ori Grossman

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Schadenfreude, a bittersweet phenomenon, is considered atypical and complicated state that might reflect ambivalent types of sentiments -a mixed of both positive and negative reactions towards others misfortunes. This brief note reports a study that examined the association between trait ambivalence, using the Trait Mixed Emotions Scale (TMES), and four different consumer schadenfreude affairs. Results propose that trait ambivalence offers a novel explanation for schadenfreude responses. Showing that trait ambivalence enhances schadenfreude, when consumers encounter misfortune type of information about a disliked or rival marketplace entity.

Keywords: schadenfreude, consumer behavior, mixed emotions, sentiments, ambivalence

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