Consumer Behavior Refers to the Selection, Purchase and...

Consumer behavior Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are different processes involved in the consumer behavior. Initially the consumer tries to find what commodities he would like to consume, then he selects only those commodities that promise greater utility. After selecting the commodities, the consumer makes an estimate of the available money which he can spend. Lastly, the consumer analyzes the prevailing prices of commodities and takes the decision about the commodities he should consume. Meanwhile, there are various other factors influencing the purchases of consumer such as social, cultural, personal and psychological. The explanation†¦show more content†¦Therefore a need becomes a motive when it is more pressing to direct the person to seek satisfaction. †¢ Perception Selecting, organizing and interpreting information in a way to produce a meaningful experience of the world is called perception. There are three different perceptual processes which are selective attention, selective distortion and selective retention. In case of selective attention, marketers try to attract the customer attention. Whereas, in case of selective distortion, customers try to interpret the information in a way that will support what the customers already believe. Similarly, in case of selective retention, marketers try to retain information that supports their beliefs. †¢ Beliefs and Attitudes ------------------------------------------------- Customer possesses specific belief and attitude towards various products. Since such beliefs and attitudes make up brand image and affect consumer buying behavior therefore marketers are interested in them. Marketers can change the beliefs and attitudes of customers by launching special campaigns in this regard. READYMADE GARMENTS 1) Raymond’s 2) Van Heusen 3) Levis Strauss 4) Wrangler 5) Lee 6) Pepe Jeans 7) Wills Lifestyle 8) Westside 9) Spykar 10) BlackBerry This particular service is purchased or selected as it is the most important and basic necessity of our daily life. Clothes are required to human being on anShow MoreRelatedCustomer Satisfaction of Fast Food Chains5562 Words   |  23 Pages 5(13), pp. 5118-5126, 4 July, 2011 Available online at http://www.academicjournals.org/AJBM DOI: 10.5897/AJBM10.870 ISSN 1993-8233  ©2011 Academic Journals Full Length Research Paper A study on exploring the relationship between customer satisfaction and loyalty in the fast food industry: With relationship inertia as a mediator Ching Chan Cheng1, Shao-I Chiu2, Hsiu-Yuan Hu3* and Ya-Yuan Chang4 Department of Food and Beverage Management, Taipei College of Maritime Technology, No.212, Yen PingRead MoreMarketing Management5475 Words   |  22 Pagesneed and want through creating and exchanging products and value with others. To explain this definition, we examine the following important terms: needs. wants, and demands; products: value and satisfaction; exchange; transactions. and relationships; and markets. There are many definitions of marketing. The better definitions are focused upon customer orientation and satisfaction of customer needs. Marketing is the social process by which individuals and groups obtain what they need and want throughRead MoreConsumer Behaviour Models and Consumer Behaviour in Tourism8170 Words   |  33 PagesConsumer Behavior Models in Tourism Analysis Study Muhannad M.A Abdallat, Ph.D. Assistant Professor Hesham El –Sayed El - Emam, Ph.D. Assistant Professor Department of Tourism and Hospitality, Faculty of Tourism and Archeology King Saud University ABSTRACT The theories of consumer decision-making process assume that the consumer’s purchase decision process consists of steps through which the buyer passes in purchasing a product or service. However, this might not be the case. Not every consumerRead MoreA More Descritv..8578 Words   |  35 PagesConsumer Behavior, 10e (Schiffman/Kanuk) Chapter 1 Consumer Behavior: Meeting Changes and Challenges 1) The behavior that consumers display in searching for, purchasing, using, evaluating, and disposing of products and services that they expect will satisfy their needs is known as ________. A) the production orientation B) consumer behavior C) narrowcasting D) positioning E) the marketing mix Answer: B Diff: 1 Page Ref: 5 Skill: Concept Objective: 1.1: Understand what consumer behaviorRead MoreConsumer Behaviour4800 Words   |  20 PagesA STUDY ON CONSUMER BUYING BEHAVIOUR OF MOBILE PHONES IN INDIA Synopsis of Introduction Consumer behavior refers to the mental and emotional process and the observable behavior of consumers during searching, purchasing and post consumption of a product or service. Consumer behavior involves study of how people buy, what they buy, when they buy and why they buy. 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A) Brand personality B) Consumption pioneering C) Early adoption D) Buying behavior E) Understanding the difference between primary and secondary data 2) The consumer market is made up of which of the following? A) individuals who acquire goods or services for personal consumption B) households that purchase goods or services for personalRead MoreConsumer Behavior And Consumer Behaviour5800 Words   |  24 Pagesdifferent consumption patterns. The job of the marketer is to satisfy their needs, wants and preferences effectively. For a firm to survive and grow in this competitive era it is essential that marketers must fully understand the requirements of the customers and create products that give them value. Consumer behavior is the study of how individuals, groups, and organizations select, buy, use and dispose of goods, services, ideas, or experiences to satisfy their needs and wants. Consumer buying behaviorRead MoreAnalyzing the Pattern of a Consumers Personal Behavior3645 Words   |  15 PagesPortfolio Project: Personal Behavior Consumer Patterns Introduction A consumer, purchases various goods to satisfy their needs, and some considerations influence them to select a specific product or shop in preference to others. Therefore, consumer purchasing is complex, and there is a likelihood that physiological, psychological and sociological factors highly influence consumer purchasing. In addition, people hold beliefs and attitudes towards particular types of goods, brands of commodities andRead MoreDigital Marketing : The Utilization Of Electronic Media Essay1423 Words   |  6 Pageswithin this digital age. Digital marketing is the utilization of electronic media by the marketers to promote the products or services into the market. The main objective of digital marketing is attracting customers and allowing them to interact with the brand through digital media. This article focuses on the importance of digital marketing for both marketers and consumers. We examine the effect of digital marketing on the firms’ sales. Additionally the differences between traditional marketing and

Greek Architecture in Egypt - 3971 Words

Characteristics of Greek Architecture:- INTRODUCTION:- Instead of covering nearly every bit of space with ornament, as the Egyptians did, the Greeks selected only the best places for it, and thus gave it its proper effect. The decorations, especially the sculptures, were one of the chief features of a Greek temple. Besides their temples the Greeks built many theaters which may be studied from their ruins, but of their dwelling-houses almost nothing remains to us. The Greek style is noted for the repose, harmony, and proportion of its effect. These are terms we might use in speaking of a painting, but they relate to the composition of a building which is, in many respects, similar to the composition of a picture. In selecting his†¦show more content†¦The most important of the Ionic temples left to us is the Erechtheum at Athens. It differs from other temples in its irregularity. This makes it doubly interesting for it shows that although the Greeks nearly always adhered to one simple form, they could dispense with it when they wished. In the Erechtheum, they wished to provide for several shrines in one building, and under one roof. The irregularity they have made so beautiful and interesting that it is a wonder they did not repeat the idea many times in other structures. Its two colonnades of different designs, its remarkable north doorway, and the famous caryatid porch to the south are unsurpassed. Another temple, that of Artemis (Di ana) at Ephesus, was known as one of the seven wonders of the ancient world. THE GREEK CORINTHIAN ORDER:- This is the most ornate of the classical orders, and the most slender in its proportions. The capital is shaped somewhat like a bell inverted, and is adorned with rows of acanthus leaves. A great example of the, third, or Corinthian order is the monument of Lysicrates at Athens. Straight is the line of duty. Curved is the line of beauty Follow the one and it shall be; The other shall always follow thee. For such reasons, Greek architecture was called Intellectual. Where on the Aegean shore a city stands, Built nobly, pure the air and light the soil; Athens, the eye of Greece, mother of arts andShow MoreRelatedEssay about Ancient Egypt and Ancient Greece903 Words   |  4 Pagesâ€Å"Ancient Egypt and Ancient Greece† According to history there existed two of many important ancient civilizations that left a significant mark in the history of human development that even today leaves modern society in awe of its greatness. 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Ultra Violet Eye free essay sample

This powerfulsSan Francisco grunge band, despite having had only one EP of their own, is quickly taking the music world by storm. Theyve appeared on several compilations, including Every Band Has a Shonen Knife Who Loves Them and the soon-to-be-released benefit album, My Parents Rioted in L.A. And All I Got Was This Stupid Tape, produced by yours truly. U.V. Eyes demo tape starts off with a wrenching rendition of their song, What Am I Going To Do With My Life?, an excellent track to show off singer Jeff Charrouxs manic vocal style. The live version of Dysfunctional Families is good in this respect also, even more so perhaps because you can understand the sarcastic lyrics: Theres a brand new term that displaces the blame my parents split up and I was never the same I hid all my pain in a Wonder-bread life became a failure cuz my family didot work right. We will write a custom essay sample on Ultra Violet Eye or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page By far, the catchiest song on the tape is Gidget (C.B. Good Buddy Industrial Mix), their cover of the theme song to everybodys favorite 60s sitcom, a track that rivals Pearl Jam and Alice in Chains in terms of pure power. The distorted tones and simple backup rhythms are quickly rounded out by two versions, live and studio, of Water It Down, their most pop-like song and the one most likely to be heard on a radio station, even one claiming to be Alternative. You wont find them on MTV, and youre not likely to find them in many tape stores in the area, but rest assured, when their first full-length album comes out, Ultra Violet Eye will be a musical force to be reckoned with. n

Kansas City Zephyrs Essay Example

Kansas City Zephyrs Essay Refer to the Kansas City Zephyrs reading from earlier in the week. For each of the 5 areas in dispute, answer the following: Who is right? Why? Submit your answers in your own Word document by the end of Week 1. Bill Ahem was asked to be an arbitrator in a major dispute regarding profitability between the Owner-Player Committee (OPC, the representatives of the owners of the 26 major League baseball teams in collective bargaining negotiations) and the Professional Baseball Players Association (PBPA, the players union). Baseball Accounting Dispute The players felt they should share in the teams profits while the owners maintained that most of the teams were actually losing money each year so there would be no profits to be shared with the players. The OPC were asked to produce financial statements to support their position that most of the Baseball teams were actually losing and not making profits but the PBPA, who had examined the owners statements, claimed that the owners were hiding profits through a number of accounting tricks and that the statements did not accurately reflect the economic reality. Ahern would need to review both parties’ information and make a decision on the profitability issue. His decision was important because it would affect the ongoing contract negotiations, particularly in the areas of minimum salaries and team contributions to the players pension fund. After meeting with the OPC and the PBPA, Aherns task was to review the Zephyrs financial statements, hear the owners and players arguments, and then reach a decision as to the profitability to focus on the finances of the Kansas City Zephyrs Baseball Club, Inc. We will write a custom essay sample on Kansas City Zephyrs specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Kansas City Zephyrs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Kansas City Zephyrs specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Both sides agreed this team’s operations were representative, relatively clean, a simple example to study, not owned by another corporation, and it did not own the stadium the team played in so private financial data would have to be revealed because the corporation was publicly owned. Who is right? At this point it is very premature to say who is correct. The PBPA does have a right to ask for an investigation into the OPC’s financial statements if they believe that the owners are in fact making a profit and believe they should get a part of it. Why? The players are the reason the fans attend the games and spend their money on tickets and concessions, if the owners are making more of a profit than what they are claiming on their financial statements the players should have a right to also get a cut of the profits. Major League Baseball Major league baseball in the United States is comprised of a number of components bound together by sets of agreements and contractual relationships. At the heart of major league baseball are 26 major league teams and each team operates as an independent economic unit, responsible for contracting their own players, promoting games, selling tickets, arranging for the use of a stadium and other needed facilities and services, and negotiating local broadcasting of games. The teams would then join together to establish common rules and playing schedules, and to stage championship games making the business of most teams limited exclusively to their major league activities. Most teams are organized as partnerships or privately held corporations; very few are subunits of larger corporations making the individual teams relatively small with annual revenues between $20 million and $30 million. Each team maintained an active roster of 24 players during the playing season, plus 16minor league players on option, who might see major league action during the season bringing the total to 40 players on major league contracts for each team at any one time. Each team played a schedule of 162 games during the season, 81 at home and 81 away. Collectively, the team owners established most of the regulations that governed the industry. The covenant that bound them was the Major League Agreement (MLA), to which was attached the Major League Rules. The rules detailed all the procedures the clubs agreed on, including the rules for signing, trading, and dealing with players. The commissioner also dministered the Major Leagues Central Fund, under which he negotiated and received the revenues from national broadcast contracts for major league games. About one-half of the funds revenues were passed on directly to the teams in approximately equal shares. Within the overall structure of major league baseball, the 26 teams were organized into two Leagues each with its own president and administration. The leagues were financed through a small percentage share of club ticket revenues and receipts from the World Series and pennant championship games. Through Player Development Contracts, the major league teams agreed to pay a certain portion of their affiliated minor league teams operating expenses and player salaries. Who is right? There needs to be an organization and coordination of the teams which is what the leagues are formed to do. If the teams agree to follow the MLA there should be no discrepancies with contracts and questions on how the fund’s revenues are passed to teams in approximately equal shares. Why? If the fund’s revenues are passed to the teams correctly, both owners and players should have a similar interpretation of how the financial statements are broken down. The difference between the Zephyrs owners and players financial statements came out to approx. $317,000 from 1984 to 1983. Meeting with the Zephyr’s Owners Ahern met with the Zephyrs owners representatives who presented him with the teams financial statements for the years 1983 and 1984. The current owner was a corporation with five major shareholders, which bought the team on November 1, 1982, for $24 million. The Zephyrs did not own any of their minor league teams or their stadium, but two of the Zephyrs owners were part owners of the private corporation that owned the baseball stadium. Ahern met with Keith Strong, the owners lawyer who went over the team’s financial statements for the years 1983 and 1984. * The controversial issues pending with the owner’s financial statement were the following: * Explaining the players salaries expense entries to which Strong answered the total player salaries expenses on the 1984 income statement totaled 10,097,000 with most of the expense represents cash outflows in 1984. Strong explained that they agreed to defer a portion of their highest paid players for 10 years which would help the players save on taxes and provides them with some income after their playing days are over. * The non-roster guaranteed contract expense to which Strong explained was also a player salary expense broken down separately because the salaries are paid to pla yers who are no longer on the active roster. The non-roster salaries are amounts the team owes players whom were released and still had long-term guaranteed contracts. The financial statement showed an amount of $750,000 still owed at the end of 1984 to two players: * Joe Portocararo, a veteran pitchers who signed a four-year guaranteed contract last year suffered a serious injury before the season started and between the player and the team it was jointly decided it was best he retire. * U. R. Wilson was released during spring training with hopes that another team would pick him up and pay his salary, but none did. * Roster depreciation expense to which Strong explained when the team was bought in 1982, 50 percent of the purchase price ($12 million) was designated as the value of the player roster at that time which was capitalized and is being amortized over six years. 50% is the maximum percentage that the Internal Revenue Code will allow for amortization when purchasing a sports team. When asked if there was anything else in the statements that the players disputed Strong replied that the rest of their accounting was very straightforward with most of their revenues and expenses result directly from a cash inflow or outflow. * Strong wanted to clarify that regarding baseball finances in general, it is thought that teams generate huge profits but the rules and regulations governing the clubs comprising the league are essential to the creation of the league as an entity an d have virtually nothing to do with pricing policies of the individual clubs. The objective of the cooperative agreements is not to constrain the economic competition among them, but rather to create the league as a joint venture that produces baseball during a season of play. Without such rules of conduct, leagues would not exist. Who was right? The owner’s explained in details why the broke down the player’s salaries expenses, roster depreciation and defended their accounting stating that they follow the rules of conduct imposed to them by the leagues. Why? The owner’s interpretation of their financial statement breakdown sounded very straight forward without any hidden agendas. The owner’s believe that deferring a portion of the player’s salary is a long term investment plan for the player to fall back onto after he is out of the game, the non-roster guarantee expenses were dues to players that could not fulfill their contracts due to disability or cut from the team (the team still honored their salary contracts), roster depreciation was explained by 50% of the purchase price designated as the value of the player roster at the time it was capitalized and amortized over six years. Meeting with the players Ahren then met with the PBPA representatives and their lawyer, Paul Hanrahan to go over their financial statements for the same years, 1983 and 1984. * The PBPA’s income statements were very similar to those of the owners except for a few items: * The players version of the financial statements showed profits before tax of $2. 9 million for 1983 and $3. 0 million for 1984 as compared to the losses of $2. 4 million and $2. 6 million on the owners statements. * Explaining player salary expenses, Hanrahan believes the owners overstate player expense in several ways. One is that they expense the signing bonuses in the year theyre paid. The players feel the bonuses are just a part of the compensation package, and that for accounting purposes, the bonuses should be spread over the term of the players contract. Information was gathered on the bonuses paid in the last four years and the contract terms, adjusted to the owners income statements by removing the bonuses from the current r oster salary expense and by adding an amortization of bonuses line. The net effect of this one adjustment on 1984, for example, was an increase in income of $373,000. The PBPA believes that it is safe to assume that even if the owners have really paid out all the bonuses in cash, and there is no guarantee that the players will complete their contracts, the number of players who do not complete their contracts is very small, and they think it is more meaningful to assume that they will continue to play over the term of their contract. * Second adjustment made to the players salary line was to back out the eferred portion of the total compensation. Many of the players, particularly those who are higher paid, receive only about 80% of their salaries in any given year. They receive the rest 10 years later so the PBPA feels that since the team is paying this money over a long period of time, it is misleading to include the whole amount as a current expense. This adjustment increased the 1984 income for the Zephyrs by $1,521,000. No salary expense deferred from prior years was added back in because that form of contract is a relatively recent phenomenon. The contract states very clearly that the player is to receive, say, $500,000, of which $100,000 is deferred to the year 1984. The team has paid only $400,000 in cash some teams set money aside and recognize that amount as a current expense but the Zephyrs dont set any money aside. * Non-Roster adjustments to the players salaries due to players who are no longer on the roster should be recognized when the cash is paid out, not when the players leave the roster. Unless that is done, the income numbers will vary wildly depending on when these players are released and how large their contracts are. Furthermore, it is quite possible that these players contracts will be picked up by another team, and the Zephyrs would then have to turn around and recognize a large gain because the liability it has set up would no longer be payable. * Roster depreciation. When asked why the player’s financial statement did not have roster depreciation Hanrahan replied that the PBPA feel it gives numbers that arent meaningful. The depreciation expense arises only when a team is sold, so one can have two identical teams that will show dramatically different results if one had been sold and the other had not. They dont think the depreciation is real because most of the players actually improve their skills with experience, so if anything, there should be an increase in roster value over time, not a reduction as the depreciation would lead you to believe. * Related-party transactions-The PBPA listed Stadium Operations at about 80% of what the owners charged. Two of the Zephyrs owners are also involved with the stadium corporation and are the sole owners of that stadium company which leads the PBPA to think that the stadium rent is set to overcharge the team and help show a loss for the baseball operations. This was researched with what other teams pay for their stadiums. Every contract is slightly different, but it is assumed that two of the five shareholders in the team are earning a nice gain on the stadium-pricing agreement. The objective is to look at all these related-party transactions if baseballs true position is to be fairly stated. The overall effect of all these adjustments we have made to the Zephyrs income statements changes losses to profits. In 1984, the change is from a loss of $1. 7 million to a profit of $1. 4 million. * In the labor negotiations, the owners keep claiming that theyre losing money and cant afford the contract terms which the PBPA feels are fair. The PBPA feels the owners are losing money only because they have selected accounting methods to hide their profits Who is right? The players version of the financial statements showed profits before tax of $2. 9 million for 1983 and $3. 0 million for 1984 as compared to the losses of $2. 4 million and $2. 6 million on the owners statements. The players believe that the owners were holding back information on how much they truly owned in stadium shares and hiding their profits by setting their stadium rent and overcharging the team in order to show a loss for the baseball team operations. Why? Players feel the owner’s overstated the player’s salaries. Information was gathered on the bonuses paid in the last four years and the contract terms, adjusted to the owners income statements by removing the bonuses from the current roster salary expense and by adding an amortization of bonuses line making this one adjustment on the financial statement 1984, for example, an increase in income of $373,000. The PBPA believes that it is safe to assume that even if the owners had really paid out all the bonuses in cash, and there is no guarantee that the players will complete their contracts, the number of players who do not complete their contracts is very small, and they think it is more meaningful to assume that they will continue to play over the term of their contract. Many of the players, particularly those who are higher paid, receive only about 80% of their salaries in any given year. They receive the rest 10 years later so the PBPA feels that since the team is paying this money over a long period of time, it is misleading to include the whole amount as a current expense. This adjustment increased the 1984 income for the Zephyrs by $1,521,000. They dont think the depreciation is real because most of the players actually improve their skills with experience, so if anything, there should be an increase in roster value over time, not a reduction as the depreciation would lead you to believe. Bill’s decision/Final conclusion Hearing both sides of story has opened up more questions regarding whose interpretation of which financial statement is the correct one. The owners outline what they believe is a fair player salary program that looks out for the player long term (regardless if they stay with the team or not) but do not state that the two of the Zephyrs owners are also involved with the stadium corporation and are the sole owners of that stadium company Two of the Zephyrs owners are also involved with the stadium corporation and are the sole owners of that stadium company making it a little questionable on if the profits belong to the Zephyr’s owners or the team. The player’s had good points on their adjustments to the player’s salary and bonus breakdown so that the numbers now look positive instead of at a loss. In conclusion it will have to come down to which interpretation follows the Baseball Leagues rules and if the Zephyr’s owners are subject to disclose any private ownership of stadiums when disclosing team related financial statements.