Search results for: consumer research
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 25523

Search results for: consumer research

25313 Consumer Experience of 3D Body Scanning Technology and Acceptance of Related E-Commerce Market Applications in Saudi Arabia

Authors: Moudi Almousa

Abstract:

This research paper explores Saudi Arabian female consumers’ experiences using 3D body scanning technology and their level of acceptance of possible market applications of this technology to adopt for apparel online shopping. Data was collected for 82 women after being scanned then viewed a short video explaining three possible scenarios of 3D body scanning applications, which include size prediction, customization, and virtual try-on, before completing the survey questionnaire. Although respondents have strong positive responses towards the scanning experience, the majority were concerned about their privacy during the scanning process. The results indicated that size prediction and virtual try on had greater market application potential and a higher chance of crossing the gap based on consumer interest. The results of the study also indicated a strong positive correlation between respondents’ concern with inability to try on apparel products in online environments and their willingness to use the 3D possible market applications.

Keywords: 3D body scanning, market applications, online, apparel fit

Procedia PDF Downloads 143
25312 Quality of Low Fat Traditional Pork Sausage Containing Transglutaminase

Authors: Jiraporn Burakorn, Pran Pinthong, Supida Hutabaedya

Abstract:

Commercial traditional pork sausages (Moo Yaw) were produced by added more than 30% of pork fat for appetite customer. The pork sausages texture were softness, firmness, juiciness and smooth. If the pork sausages contained less fat, their textures were hardness, dryness and incoherence. This research investigated production of low fat traditional pork sausage containing transglutaminase for improved its sensory properties and nutritive values. The enzyme pork sausage composed of transglutaminase, soybean cake, rice bran oil and other ingredients. Consumer acceptance test was done by comparing the enzyme pork sausage with the 3 commercial pork sausage with 95 consumer. The enzyme pork sausage was accepted 92.6% and was preferred in all attributes over the 3 commercial pork sausages such as appearance, color, flavor, taste, firmness and overall liking. The enzyme pork sausage was high protein but low total calories, calories from fat, total fat, saturated fat, cholesterol and carbohydrate. The enzyme pork sausage was lower calorie (90 kcal) than the commercial reference pork sausage (150 kcal) 64%. The morphological texture of the enzyme pork sausage was smooth and consistency when analyzed by SEM.

Keywords: low fat, Moo Yaw, pork sausage, transglutaminase

Procedia PDF Downloads 229
25311 Regulating User Experience Design, in the European Union, as a Way to Narrow Down the Gap Between Consumers’ Protection and Algorithms Employment

Authors: Prisecaru Diana-Sorina

Abstract:

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

Procedia PDF Downloads 136
25310 Sharing Tourism Experience through Social Media: Consumer's Behavioral Intention for Destination Choice

Authors: Mohammad Tipu Sultan, Farzana Sharmin, Ke Xue

Abstract:

Social media create a better opportunity for travelers to search for travel information, select destination and share their personal experiences of the travel. This study proposes a framework which describes the relationships between social media, and positive or negative tourism experience sharing impact on destination choice. To find out new trends of travelers behavioral intention, we propose an extended theoretical model, the Theory of Reasoned Action (TRA). We conducted a survey to analyze three external factors, subjective norms, and positive and negative experience influence on travel destination choice. Structural questionnaire analysis was employed to confirm the proposed research hypothesis within the relationship between consumer influences on the shared experience of social media. The results of the study confirm that sharing positive experiences influence the positive effect of destination choice, while negative experiences decrease the destination selection option. The results indicate that attitudes, subjective norms are passively influenced by shared experience. Moreover, we find that sharing live pictures of travel experiences through social media helps to reduce negative perceptions of the destination brand. This research contribution is useable to the research field as a new determination factor and the findings could be used by destination organization management (DMO) to enhancing their tourism promotion through social media.

Keywords: destination choice, tourism experience sharing, Theory of Reasoned Action, TRA, social media

Procedia PDF Downloads 151
25309 A Theoretical Framework: The Influence of Luxury Companies' Corporate Social Activities on Consumer Purchase Intention

Authors: Kveta Olsanova, Gina Cook, Marija Zlatic

Abstract:

This paper discusses the theoretical framework suggesting the dependencies between luxury brands’ CSR (Corporate Social Responsibility) variables and the purchase intention of luxury shoppers. The framework is based on a literature review and in-depth individual interviews with a sample of luxury users and buyers. The measures of the model are based on existing research and the authors' qualitative research results. The model suggests that purchase intention in the luxury segment is dependent on the luxury values (symbolic, experiential, functional and social), individual sustainable dimension (composed of societal, environmental and economic variables) and awareness of the brand’s CSR, the last two relationships being potentially moderated by certain conditions such as demographics and general attitudes towards CSR and sustainability. The model’s output is in the formulation of several hypotheses, to be tested in an upcoming quantitative study. The qualitative phase indicated that the perceived symbolic, functional and experiential value dimensions of luxury brands were stronger drivers of purchase intention compared to the sustainable dimension. The contribution of the research consists of highlighting CSR’s impact on customer purchase intent as a potential implication for luxury brand management due to two aspects: (i) consumer awareness of the existing CSR activities of luxury brands is low, and this might be challenged by the demands of Gen Z entrants into the lux industry as they are known for their positive approach to CSR; (ii) the UN’s SDGs will bring CSR to the attention of all industries, including currently 'CSR silent' segments represented by luxury. Our research should contribute to incorporation of strategic CSR into the policies and strategies of the luxury segment by providing evidence that luxury customers do care.

Keywords: CSR, luxury shoppers, purchase intention, sustainability

Procedia PDF Downloads 148
25308 Information Technology Pattern for Traceability to Increase the Exporting Efficiency of Thailand’s Orchid

Authors: Pimploi Tirastittam, Phutthiwat Waiyawuththanapoom, Manop Tirastittam

Abstract:

Traceability system is one of the tools which can ensure the product’s confident of the consumer as it can trace the product back to its origin and can reduce the operation cost of recall. Nowadays, there are so many technologies which can be applied to the traceability system and also able to increase the efficiency of the system such as QR Code, barcode, GS1 and GTIN. As the result, this research is aimed to study and design the information technology pattern that suits for the traceability of Thailand’s orchid because Thailand’s orchid is the popular export product for Japan, USA, China, Netherlands and Italy. This study will enhance the value of Thailand’s orchid and able to prevent the unexpected event of the defects or damaged product. The traceability pattern was received IOC test from 12 experts from 4 fields of study which are traceability field, information technology field, information communication technology field and orchid export field. The result of the in-depth interview and questionnaire showed that the technology which most compatibility with the traceability system is the QR code. The mean of the score was 4.25 and the standard deviation was 0.5 as the QR code is the new technology and user-friendly. The traceability system should start from the farm to the consumer in the consuming country as the traceability system will enhance the quality level of the product and increase the value of its as well. The other outcome from this research is the supply chain model of Thailand’s Orchid along with the system architecture and working system diagram.

Keywords: exporting, information technology pattern, orchid, traceability

Procedia PDF Downloads 225
25307 Cluster Analysis of Retailers’ Benefits from Their Cooperation with Manufacturers: Business Models Perspective

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

Abstract:

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

Procedia PDF Downloads 256
25306 On-Line Impulse Buying and Cognitive Dissonance: The Moderating Role of the Positive Affective State

Authors: G. Mattia, A. Di Leo, L. Principato

Abstract:

The purchase impulsiveness is preceded by a lack of self-control: consequently, it is legitimate to believe that a consumer with a low level of self-control can result in a higher probability of cognitive dissonance. Moreover, the process of purchase is influenced by the pre-existing affective state in a considerable way. With reference to on-line purchases, digital behavior cannot be merely ascribed to the rational sphere, given the speed and ease of transactions and the hedonistic dimension of purchases. To our knowledge, this research is among the first cases of verification of the effect of moderation exerted by the positive affective state in the on-line impulse purchase of products with a high expressive value such as a smartphone on the occurrence of cognitive dissonance. To this aim, a moderation analysis was conducted on a sample of 212 impulsive millennials buyers. Three scales were adopted to measure the constructs of interest: IBTS for impulsivity, PANAS for the affective state, Sweeney for cognitive dissonance. The analysis revealed that positive affective state does not affect the onset of cognitive dissonance.

Keywords: cognitive dissonance, impulsive buying, online shopping, online consumer behavior

Procedia PDF Downloads 153
25305 Examining the Effects of Ticket Bundling Strategies and Team Identification on Purchase of Hedonic and Utilitarian Options

Authors: Young Ik Suh, Tywan G. Martin

Abstract:

Bundling strategy is a common marketing practice today. In the past decades, both academicians and practitioners have increasingly emphasized the strategic importance of bundling in today’s markets. The reason for increased interest in bundling strategy is that they normally believe that it can significantly increase profits on organization’s sales over time and it is convenient for the customer. However, little efforts has been made on ticket bundling and purchase considerations in hedonic and utilitarian options in sport consumer behavior context. Consumers often face choices between utilitarian and hedonic alternatives in decision making. When consumers purchase certain products, they are only interested in the functional dimensions, which are called utilitarian dimensions. On the other hand, others focus more on hedonic features such as fun, excitement, and pleasure. Thus, the current research examines how utilitarian and hedonic consumption can vary in typical ticket purchasing process. The purpose of this research is to understand the following two research themes: (1) the differential effect of discount framing on ticket bundling: utilitarian and hedonic options and (2) moderating effect of team identification on ticket bundling. In order to test the research hypotheses, an experimental study using a two-way ANOVA, 3 (team identification: low, medium, and high) X 2 (discount frame: ticket bundle sales with utilitarian product, and hedonic product), with mixed factorial design will be conducted to determine whether there is a statistical significance between purchasing intentions of two discount frames of ticket bundle sales within different team identification levels. To compare mean differences among the two different settings, we will create two conditions of ticket bundles: (1) offering a discount on a ticket ($5 off) if they would purchase it along with utilitarian product (e.g., iPhone8 case, t-shirt, cap), and (2) offering a discount on a ticket ($5 off) if they would purchase it along with hedonic product (e.g., pizza, drink, fans featured on big screen). The findings of the current ticket bundling study are expected to have many theoretical and practical contributions and implications by extending the research and literature pertaining to the relationship between team identification and sport consumer behavior. Specifically, this study can provide a reliable and valid framework to understanding the role of team identification as a moderator on behavioral intentions such as purchase intentions. From an academic perspective, the study will be the first known attempt to understand consumer reactions toward different discount frames related to ticket bundling. Even though the game ticket itself is the major commodity of sport event attendance and significantly related to teams’ revenue streams, most recent ticket pricing research has been done in terms of economic or cost-oriented pricing and not from a consumer psychological perspective. For sport practitioners, this study will also provide significant implications. The result will imply that sport marketers may need to develop two different ticketing promotions for loyal fan and non-loyal fans. Since loyal fans concern ticket price than tie-in products when they see ticket bundle sales, advertising campaign should be more focused on discounting ticket price.

Keywords: ticket bundling, hedonic, utilitarian, team identification

Procedia PDF Downloads 166
25304 Performance Study of Classification Algorithms for Consumer Online Shopping Attitudes and Behavior Using Data Mining

Authors: Rana Alaa El-Deen Ahmed, M. Elemam Shehab, Shereen Morsy, Nermeen Mekawie

Abstract:

With the growing popularity and acceptance of e-commerce platforms, users face an ever increasing burden in actually choosing the right product from the large number of online offers. Thus, techniques for personalization and shopping guides are needed by users. For a pleasant and successful shopping experience, users need to know easily which products to buy with high confidence. Since selling a wide variety of products has become easier due to the popularity of online stores, online retailers are able to sell more products than a physical store. The disadvantage is that the customers might not find products they need. In this research the customer will be able to find the products he is searching for, because recommender systems are used in some ecommerce web sites. Recommender system learns from the information about customers and products and provides appropriate personalized recommendations to customers to find the needed product. In this paper eleven classification algorithms are comparatively tested to find the best classifier fit for consumer online shopping attitudes and behavior in the experimented dataset. The WEKA knowledge analysis tool, which is an open source data mining workbench software used in comparing conventional classifiers to get the best classifier was used in this research. In this research by using the data mining tool (WEKA) with the experimented classifiers the results show that decision table and filtered classifier gives the highest accuracy and the lowest accuracy classification via clustering and simple cart.

Keywords: classification, data mining, machine learning, online shopping, WEKA

Procedia PDF Downloads 350
25303 Ergonomics and Its Applicability in the Design Process in Egypt Challenges and Prospects

Authors: Mohamed Moheyeldin Mahmoud

Abstract:

Egypt suffers from a severe shortage of data and charts concerning the physical dimensions, measurements, qualities and consumer behavior. The shortage of needed information and appropriate methods has forced the Egyptian designer to use any other foreign standard when designing a product for the Egyptian consumer which has led to many problems. The urgently needed database concerning the physical specifications, measurements of the Egyptian consumers, as well as the need to support the Ergonomics given courses in many colleges and institutes with the latest technologies, is stated as the research problem. Descriptive analytical method relying on the compiling, comparing and analyzing of information and facts in order to get acceptable perceptions, ideas and considerations is the used methodology by the researcher. The research concludes that: 1. Good interaction relationship between users and products shows the success of that product. 2. An integration linkage between the most prominent fields of science specially Ergonomics, Interaction Design and Ethnography should be encouraged to provide an ultimately updated database concerning the nature, specifications and environment of the Egyptian consumer, in order to achieve a higher benefit for both user and product. 3. Chinese economic policy based on the study of market requirements long before any market activities should be emulated. 4. Using Ethnography supports the design activities creating new products or updating existent ones through measuring the compatibility of products with their environment and user expectations, While contracting a joint cooperation between military colleges, sports education institutes from one side, and design institutes from the other side to provide an ultimately updated (annually updated) database concerning some specifications about students of both sexes applying in those institutes (height, weight, etc.) to provide the Industrial designer with the needed information when creating a new product or updating an existing one concerning that category is recommended by the researcher.

Keywords: adapt, ergonomics, ethnography, interaction design

Procedia PDF Downloads 226
25302 Consumer Behavior and Knowledge on Organic Products in Thailand

Authors: Warunpun Kongsom, Chaiwat Kongsom

Abstract:

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

Procedia PDF Downloads 294
25301 The Impact of Facebook Brand Pages Engagement on Consumers Purchase Behaviour

Authors: Sudarsan Jayasingh, R. Venkatesh

Abstract:

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

Procedia PDF Downloads 317
25300 Cross-border Data Transfers to and from South Africa

Authors: Amy Gooden, Meshandren Naidoo

Abstract:

Genetic research and transfers of big data are not confined to a particular jurisdiction, but there is a lack of clarity regarding the legal requirements for importing and exporting such data. Using direct-to-consumer genetic testing (DTC-GT) as an example, this research assesses the status of data sharing into and out of South Africa (SA). While SA laws cover the sending of genetic data out of SA, prohibiting such transfer unless a legal ground exists, the position where genetic data comes into the country depends on the laws of the country from where it is sent – making the legal position less clear.

Keywords: cross-border, data, genetic testing, law, regulation, research, sharing, South Africa

Procedia PDF Downloads 125
25299 Social Media Marketing Efforts and Hospital Brand Equity: An Empirical Investigation

Authors: Abrar R. Al-Hasan

Abstract:

Despite the widespread use of social media by consumers and marketers, empirical research investigating their economic value in the healthcare industry still lags. This study explores the impact of the use of social media marketing efforts on a hospital's brand equity and, ultimately, consumer response. Using social media data from Twitter and Facebook, along with an online and offline survey methodology, data is analyzed using logistic regression models. A random sample of (728) residents of the Kuwaiti population is used. The results of this study found that social media marketing efforts (SMME) in terms of use and validation lead to higher hospital brand equity and in turn, patient loyalty and patient visit. The study highlights the impact of SMME on hospital brand equity and patient response. Healthcare organizations should guide their marketing efforts to better manage this new way of marketing and communicating with patients to enhance their consumer loyalty and financial performance.

Keywords: brand equity, healthcare marketing, patient visit, social media, SMME

Procedia PDF Downloads 171
25298 The Searching Artificial Intelligence: Neural Evidence on Consumers' Less Aversion to Algorithm-Recommended Search Product

Authors: Zhaohan Xie, Yining Yu, Mingliang Chen

Abstract:

As research has shown a convergent tendency for aversion to AI recommendation, it is imperative to find a way to promote AI usage and better harness the technology. In the context of e-commerce, this study has found evidence that people show less avoidance of algorithms when recommending search products compared to experience products. This is due to people’s different attribution of mind to AI versus humans, as suggested by mind perception theory. While people hold the belief that an algorithm owns sufficient capability to think and calculate, which makes it competent to evaluate search product attributes that can be obtained before actual use, they doubt its capability to sense and feel, which is essential for evaluating experience product attributes that must be assessed after experience in person. The result of the behavioral investigation (Study 1, N=112) validated that consumers show low purchase intention to experience products recommended by AI. Further consumer neuroscience study (Study 2, N=26) using Event-related potential (ERP) showed that consumers have a higher level of cognitive conflict when faced with AI recommended experience product as reflected by larger N2 component, while the effect disappears for search product. This research has implications for the effective employment of AI recommenders, and it extends the literature on e-commerce and marketing communication.

Keywords: algorithm recommendation, consumer behavior, e-commerce, event-related potential, experience product, search product

Procedia PDF Downloads 153
25297 When Bad News Are Good News: Ambivalent Feelings Towards Firms Adversity

Authors: Jacob Hornik, Matti Rachamim, Ori Grossman

Abstract:

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

Procedia PDF Downloads 127
25296 Assessing the Celebrity Effects on Change in Brand Association and Consumer’s Attitude in a Celebrity-Collaborated Fashion Brand in Hong Kong

Authors: Chu Wai Ching, Kan Chi Wai

Abstract:

Fashion industry is fast moving with intense competitions; it is hard for fashion retailers to stand out among their peers. In order to promote and enhance uniqueness, fashion retailers have collaborated with different brands or celebrity in their marketing campaign recently. As brand-celebrity collaboration is a growing phenomenon in the Hong Kong fashion industry, this research aims to investigate the effect of celebrity on altering consumer’s brand association and the overall attitude towards the co-branded products. One of the popular celebrity-collaborated fashion brands was chosen for this study and a survey was conducted among university students in Hong Kong which yielded 222 responses. By using factor analysis, linear regression and bootstrap test for the mediation, the results show that three celebrity attributes namely “expertise”, “trustworthiness” and “attractiveness” affect the evaluation of the co-branded products. In addition, the change in the association of the brand and co-branded product attributes mediates the relationship between the characteristics of the celebrity and the overall attitude of the co-branded product. The result shows “expertise” of the celebrity has a perfect mediation, while “trustworthiness” and “attractiveness” of the celebrity have partial mediation. This implies that expertise of the celebrity is capable in altering the association towards both the brand and core product attributes and bringing a positive attitude towards the co-brand. The trustworthiness and the attractiveness of the celebrity are able to alter the consumer association towards the brand, but do not guarantee a complete positive attitude towards the co-branded product. This means that change in brand attributes is not a definite mediator as direct relationship may happen or there may be other factors that can affect the relationship between the celebrity’s persuasiveness and the overall attitude towards the co-branded collection.

Keywords: brand attribute, brand-celebrity collaborations, co-branding, fashion industry

Procedia PDF Downloads 330
25295 A Geospatial Consumer Marketing Campaign Optimization Strategy: Case of Fuzzy Approach in Nigeria Mobile Market

Authors: Adeolu O. Dairo

Abstract:

Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

Procedia PDF Downloads 182
25294 Impact of Audit Committee on Earning Quality of Listed Consumer Goods Companies in Nigeria

Authors: Usman Yakubu, Muktar Haruna

Abstract:

The paper examines the impact of the audit committee on the earning quality of the listed consumer goods sector in Nigeria. The study used data collected from annual reports and accounts of the 13 sampled companies for the periods 2007 to 2018. Data were analyzed by means of descriptive statistics to provide summary statistics for the variables; also, correlation analysis was carried out using the Pearson correlation technique for the correlation between the dependent and independent variables. Regression was employed using the Generalized Least Square technique since the data has both time series and cross sectional attributes (panel data). It was found out that the audit committee had a positive and significant influence on the earning quality in the listed consumer goods companies in Nigeria. Thus, the study recommends that competency and personal integrity should be the worthwhile attributes to be considered while constituting the committee; this could enhance the quality of accounting information. In addition to that majority of the committee members should be independent directors in order to allow a high level of independency to be exercised.

Keywords: earning quality, corporate governance, audit committee, financial reporting

Procedia PDF Downloads 171
25293 Cosmetic Recommendation Approach Using Machine Learning

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

Abstract:

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

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

Procedia PDF Downloads 134
25292 The Factors Influencing Consumer Behavior of Beverage in Retail Stores Chiang Mai Province

Authors: Winita Kitisak, Boontarika Panyomoon, Siriyakorn Nilpoun, Nithit Yosit, Peeraya Somsak

Abstract:

The purpose of this study will affect the marketing mix that influences the consumers’ behavior towards beverage purchasing from retail stores. It aims to study the consumers and to better understand their behaviors and factors influencing their decision making on buying beverage in retail stores. We study the example of 400 consumers in Chiang Mai. The study shows that most of the respondents were male, 50 percent is 20-30 year old, and 36.66 percent is 31-40 year old, only 2.66 percent is upper 50 years old, bachelor’s degree holders, working in business field and student with 10,001-15,000 Baht income. Most buyers spend 4-6 times a week buying cheap beverage from retail stores. The consumer bought alcoholic beverages, green tea drinks, and soft drinks, but the mainly purchased product was beer. The results indicate that the brand of the product motivates more on consumers’ demand. While shelf displays, products presentation, and sales promotion affect the most on the consumers’ decision to purchase from the retail stores, the promotions moderately impact the consumers’ decision on purchasing from retail stores.

Keywords: consumer behavior, beverage, retail stores, convenience store

Procedia PDF Downloads 222
25291 Between a Rock and a Hard Place: The Impact of Inflation on Global Supply Chains

Authors: Elad Harison

Abstract:

The paper identifies the complex links between post-COVID-19 inflationary pressures and global supply chains. Throughout the COVID-19 lockdowns and long periods after the termination of social distancing policies, consumers, notably in the U.S., have confronted and still face disruptions in the supply of goods. The study analyzes the monetary policy in the U.S. that led to the significant shift in consumer demand during a limited supply period, hence resulting in shortages and emphasizing inflationary dynamics. We argue that the monetary guidelines applied by the U.S. government further elevated the scope of supply chain disruptions.

Keywords: consumer demand, COVID-19, inflation, monetary policy, supply chain

Procedia PDF Downloads 91
25290 Adolescents’ Role in Family Buying Decision Making

Authors: Harleen Kaur, Deepika Jindal Singla

Abstract:

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 476
25289 Gender Differences in the Perception of Advertising in Postmodern Era

Authors: J. Zavodny Pospisil, L. S. Zavodna, K. Cerna

Abstract:

The goal of this paper is to identify the main differences in the way men and women perceive TV ads. This paper is based on a research project conducted partly as a review of relevant papers, which deals with gender influence on the cognitive process and postmodern perception of advertising. In addition to that, qualitative research was conducted by means of interviews and structured questionnaires. Furthermore, data acquired from the research were used to evaluate our objectives and hypotheses. The goal of this paper is to compare women's and men's perception of advertisement. Although women are able to perceive more details than men, men are more susceptible to sexual appeals in advertising. Significant differences were also found in the perception of sexual appeals in the context of gender.

Keywords: advertising, consumer, emotion, gender, psychology of advertising

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25288 The Effect of Regulation and Investment in Sustainable Practices on Environmental Performance and Consumer Trust: a Time Series Analysis of the Dominant Companies within the Energy Sector

Authors: Sempiga Olivier, Dominika Latusek-Jurczak

Abstract:

Climate change has allegedly been attributed to a high consumption of fossil fuels, leading to severe environmental problems. The energy sector has been among the most polluting sectors for many decades. Consequently, there is a lack of trust in several energy firms, especially those in fossil fuels and nuclear energy. A robust regulatory framework is needed, and more investment in renewable energy sources is paramount for a better environmental outcome. Given the significant environmental impact of energy production and consumption in the energy sector, sustainable marketing practices have become increasingly important. Although the latter has had the lion’s share in polluting the environment, much effort has been made recently to move away from fossil fuels and privilege renewable energy sources. How this shift would help rebuild trust in the energy industry is unclear. For the shift to have lasting effects, it may be essential that regulatory agencies examine how energy firms engage in sustainable investment. There is little empirical evidence on whether adopting regulating marketing practices and investment initiatives can help different organizations reduce their environmental impact and promote sustainable development. Little is known about how and whether the environmental value in firms goes beyond rhetoric, greenwashing and publicity to translate into economic gains and environmental performance. The study investigates how regulatory agencies can help energy firms invest sustainably and take sustainable initiatives even amid the energy crisis caused by the Russia-Ukraine conflict and how these sustainable practices relate to renewed consumer trust. Using data from Corporate Knights, the study, through time series, analyses the relationship between sustainable regulation, sustainable practices of energy firms from around the world and their relation to consumer trust and environmental performance over the past 20 years. It examines how their sustainable investment, energy, and carbon productivity relate to environmental sustainability and consumer trust. This longitudinal study provides empirical evidence of the interplay between regulation, trust and environmental performance. The research is grounded in institutional trust theory, which emphasizes the role of regulatory frameworks and organizational practices in shaping public perceptions of fairness, transparency, and legitimacy. Results show that organizations in the energy sector, supported by robust regulatory tools, can overcome the negative image of polluters and compete with other companies in the fight against climate change and global warming. However, to do so, energy firms should consider investing more in renewable energy sources and implementing sustainable strategies and practices that go beyond greenwashing to improve their environmental performance, thereby rebuilding consumer trust in the energy sector. Results allow regulatory regimes and organizations to learn why it is crucial for energy firms to invest in renewable energy sources and engage in various sustainable initiatives and practices to contribute to better environmental outcomes and higher levels of trust.

Keywords: consumer trust, energy, environmental performance, regulation, renewable energy sources, sustainable practices

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25287 Consumer Knowledge and Behavior in the Aspect of Food Waste

Authors: Katarzyna Neffe-Skocinska, Marzena Tomaszewska, Beata Bilska, Dorota Zielinska, Monika Trzaskowska, Anna Lepecka, Danuta Kolozyn-Krajewska

Abstract:

The aim of the study was to assess Polish consumer behavior towards food waste, including knowledge of information on food labels. The survey was carried out using the CAPI (computer assisted personal interview) method, which involves interviewing the respondent using mobile devices. The research group was a representative sample for Poland due to demographic variables: gender, age, place of residence. A total of 1.115 respondents participated in the study (51.1% were women and 48.9% were men). The questionnaire included questions on five thematic aspects: 1. General knowledge and sources of information on the phenomenon of food waste; 2. Consumption of food after the date of minimum durability; 3. The meanings of the phrase 'best before ...'; 4. Indication of the difference between the meaning of the words 'best before ...' and 'use by'; 5. Indications products marked with the phrase 'best before ...'. It was found that every second surveyed Pole met with the topic of food waste (54.8%). Among the respondents, the most popular source of information related to the research topic was television (89.4%), radio (26%) and the Internet (24%). Over a third of respondents declared that they consume food after the date of minimum durability. Only every tenth (9.8%) respondent does not pay attention to the expiry date and type of consumed products (durable and perishable products). Correctly 39.8% of respondents answered the question: How do you understand the phrase 'best before ...'? In the opinion of 42.8% of respondents, the statements 'best before ...' and 'use by' mean the same thing, while 36% of them think differently. In addition, more than one-fifth of respondents could not respond to the questions. In the case of products of the indication information 'best before ...', more than 40% of the respondents chosen perishable products, e.g., yoghurts and durable, e.g., groats. A slightly lower percentage of indications was recorded for flour (35.1%), sausage (32.8%), canned corn (31.8%), and eggs (25.0%). Based on the assessment of the behavior of Polish consumers towards the phenomenon of food waste, it can be concluded that respondents have elementary knowledge of the study subject. Noteworthy is the good conduct of most respondents in terms of compliance with shelf life and dates of minimum durability of food products. The publication was financed on the basis of an agreement with the National Center for Research and Development No. Gospostrateg 1/385753/1/NCBR/2018 for the implementation and financing of the project under the strategic research and development program social and economic development of Poland in the conditions of globalizing markets – GOSPOSTRATEG - acronym PROM.

Keywords: food waste, shelf life, dates of durability, consumer knowledge and behavior

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25286 Analyzing Business Model Choices and Sustainable Value Capturing: A Multiple Case Study of Sharing Economy Business Models

Authors: Minttu Laukkanen, Janne Huiskonen

Abstract:

This study investigates the sharing economy business models as examples of the sustainable business models. The aim is to contribute to the limited literature on sharing economy in connection with sustainable business models by explaining sharing economy business models value capturing. Specifically, this research answers the following question: How business model choices affect captured sustainable value? A multiple case study approach is applied in this study. Twenty different successful sharing economy business models focusing on consumer business and covering four main areas, accommodation, mobility, food, and consumer goods, are selected for analysis. The secondary data available on companies’ websites, previous research, reports, and other public documents are used. All twenty cases are analyzed through the sharing economy business model framework and sustainable value analysis framework using qualitative data analysis. This study represents general sharing economy business model value attributes and their specifications, i.e. sustainable value propositions for different stakeholders, and further explains the sustainability impacts of different sharing economy business models through captured and uncaptured value. In conclusion, this study represents how business model choices affect sustainable value capturing through eight business model attributes identified in this study. This paper contributes to the research on sustainable business models and sharing economy by examining how business model choices affect captured sustainable value. This study highlights the importance of careful business model and sustainability impacts analyses including the triple bottom line, multiple stakeholders and value captured and uncaptured perspectives as well as sustainability trade-offs. It is not self-evident that sharing economy business models advance sustainability, and business model choices does matter.

Keywords: sharing economy, sustainable business model innovation, sustainable value, value capturing

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25285 Customer Relationship Management - “Is It a Myth or a Reality in Indian Consumer Context”

Authors: Manish Manohar Hingorani

Abstract:

The purpose of the research is to find out the level of understanding, adoption, and implementation of CRM in Indian Businesses, either product/ service and the processes which should be followed to ensure minimal to no customer churn and further enhance loyalty. The study used comprehensive qualitative interviews of 36 respondents across mid and senior-level management in product and services organizations of Indian origin. The findings of the study exhibit a gap between the understanding, adoption and implementation of CRM in the Indian context. Different Industries have attributed different levels of understanding, adoption, and limited implementation studies on CRM to the Indian context exists in different industries, but studies related to the consequences of not understanding the true meaning of CRM at the grass root level and further than on non-adoption and non-implementation will have an adverse effect on the customer loyalty, and customer satisfaction leading to customer churn. As this was a qualitative approach, the analysis was content-based and discourse based. The responses were taken from mid to very-senior management decision-makers in organizations of Indian origin.

Keywords: customer relationship management, Indian consumer, customer loyalty, customer experience, customer satisfaction

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25284 Impact of Foreign Direct Investment on Woman's Lifestyle: A Female Banking Professionals Case Study

Authors: Ruqiya Anwar

Abstract:

The present study is aimed to find out the Impact of Foreign direct Investment on lifestyle of working women in Rawalpindi and Islamabad (Pakistan). It was hypothesized that easy access to consumer loans uplifts the lifestyle of women. First part of the research study was aimed at developing a tool to measure the Impact of FDI on living pattern of women in Rawalpindi and Islamabad. Purposive sampling technique was used to collect the more reliable and valid data.81 females working in different banks of Rawalpindi and Islamabad (Pakistan) were included in the sample. The value of Alpha Reliability coefficient is .774 for the tool of study. Which was found satisfactory and indicated that tool is reliable to measure the study objectives. Finding of the study showed that foreign direct investment has significant and positive impact on lifestyle of women in Rawalpindi and Islamabad (Pakistan). Study also revealed that there is moderate and high level of consumption power women have through foreign direct investment, which supports the hypothesis.

Keywords: foreign direct investment, lifestyle of women, consumption power, consumer loans

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