Consumer Behavior Summary Essay Example

Consumer Behavior Summary Essay 95 percent of the thought, emotion and learning that force our consumption occur in the unconscious mind Psychological factors * Motivation * Maslow’s hierarchy of needs theory * Physiological needs * Safety needs * Social needs * Esteem needs * Self actualisation needs * Perception * People can have different perceptions of the same stimulus because of three perceptual processes: * Selective exposure * Consumer’s selection of the type of advertisements they are exposed to/ impact them. As most stimuli is screened out by people * Selective distortion Stimuli that consumers do not notice not coming across to the consumer in the intended way by advertise * Describes the tendency of people to adapt information to personal meanings * Selective retention * Retention of information that supports a consumer’s attitudes and beliefs * Learning * Learning occurs through the fusion of drives, stimuli, cues, responses and reinforcement * Marketers can build demand for a prod uct by associating it with strong drives, using motivating cues and providing positive reinforcement *Beliefs and attitudes Attitudes put people into a frame of mind of liking and disliking things * Since attitudes are developed over a period of time it is usually difficult to change them * Personality and self concept * Each person’s distinct personality influences their buying behaviour * Personality is closely tied to motivation and is usually described in terms of traits. * The basic self concept remise is that people’s possessions contribute to and reflect their identities that ‘ we are what we have’ Personal factors * A buyer’s decision is also influenced by personal characteristics such as the buyer’s age and life cycle stage, occupation and economic situation * Age life cycle stage * People change the type of goods and services they buy over different periods of their lifetime *Preferences in food clothes furniture and recreation are often age related * Occupation A person’s occupation affects the goods and services bought * The type of goods and services a manual labourer would buy is way different to what a business man would buy * Economic Situation * Marketers target consumers who have lots of money and resources charging prices to match their high income * E. g. Rolex Watches * Marketers of income sensitive goods target consumers who are more modest in the way they spend their money and resources * E. g. Budget airline tickets * Culture Major influence on a person’s wants and general behaviour * Consumers develop their basic values and perceptions from their environment usually from those around them from young * Subculture * Subcultures such as Chinese, Middle eastern communities have different preferences and interest that Australian consumers *Interests of buyers in various goods and services will be influences by their sub cultural background / race etc. Or those who are around them (commu nities) Social Factors * Family and Household A person’s household and family can strongly influence buyer behaviour as these people are important to the consumer therefore he/she might consult them when purchasing a product * Groups * Social groups and reference groups can shape a person’s attitude towards a particular product Buying decision behaviours * Purchase decisions are often grouped according to the importance of the purchase to the consumer or the consumers involvement with the product * If the purchase is expensive the consumer might have higher involvement than a purchase of a cheaper product Complex buying behaviour * When purchase is high involvement and when the consumer believes that there is a significant difference between brands *Dissonance reducing buying behaviour * When purchase is high involvement with an expensive infrequent risky purchase but see little difference between brands * Consumers might shop around to learn what is available in the m arket but buy relatively quick * Habitual buying behaviour Purchase is low involvement and the consumer doesn’t think there is significant differences between brands * Consumers don’t search extensively for information * Variety seeking buying behaviour * Low involvement but significant perceived brand differences * Consumers might want to pick another brand to try something new or to switch brands to relieve boredom of the same brand

The Delicate, Wilted Flower-The Role of Ophelia in Hamlet essays

The Delicate, Wilted Flower-The Role of Ophelia in Hamlet essays The classic tragedy Hamlet, is a story of a prince and the dysfunction experienced after the death of his father. After discovering his father was murdered by his uncle Claudius, Hamlets life, along with the lives of those around him, began to spiral into a tangled web. Never is this more apparent than in the case of Ophelia. However subtle, Ophelia plays a significant role riddled with control, grief, and vulnerability. Ophelia can be compared to that of a delicate, wilted, flower. She is fragile and apparently ruled by the men in her life. It is as though she has no true identity, for Polonius and Laertes dictated her actions. Her brother discourages her from maintaining her relationship with Hamlet by telling her, Fear it Ophelia, fear it my dear sister, and keep you in the rear of your affection out of the shot and danger of desire. Her father concurs with Laertes opinions of Hamlets true intentions and tells her princes could only marry princesses. This is a contradiction, for throughout the play, Gertrude implies that she would like to see Hamlet and Ophelia together. If Polonius were correct, wouldnt Gertrude have been the first to say her son must look for a more deserving woman? At no time during the play does Gertrude express disdain for Ophelia. Without further questioning, she obediently agrees to abide by her fathers wishes of severing the relationship. This is truly sad for it is obvious she has strong feelings for him. Rather than stand up for her beliefs, she in essence, sacrifices herself in order to please her father. While her fathers intentions appear to be good, he did not allow her to learn the lessons of life on her own. He so wanted to protect her that he failed to recognize that pain was all a part of growing up and almost a rite of passage into adulthood; especially with affairs of the heart. Not allowing her to discover this f...

FINANCIAL REPORTING & ANALYSIS Essay Example | Topics and Well Written Essays - 2000 words

FINANCIAL REPORTING & ANALYSIS - Essay Example ent by taking into consideration the concepts of capital maintenance and also analyse the general purpose of financial statements while considering the information provided in the key components of financial statements. In a wide systems-based perspective, an organisation is part of a much broader social system: the entity is presumed to be persuaded by, and, in effect, to have power on, the society wherein it operates (RudÃ… ¾ionienÄâ€" 2006, p. 52). Therefore, an organisation must pay attention to the expectation of specific users of accounting information so as to gratify the interests of all users (customers, employees, suppliers, capital providers, all users, regulators and foreign suppliers and customers) in order to acquire information for their decision-making. Stakeholders need truthful and informative accounting information for them to make the accurate decisions (RudÃ… ¾ionienÄâ€" 2006, p. 52). Enterprise’s financial accounting regulation (as an entity of accounting methods, principles and rules used for accounting and preparing and presenting financial statements) making process, according to Deegan (2003, p. 19) is vital, not just for the firm’s management, but for stak eholders, as well, who utilise the financial accounting data. Nevertheless, there is an inverse relation in that stakeholder’s interests might persuade a firm’s financial accounting law-making. The key elements of financial accounting law-making, according to Deaconu, Nistor, & Popa (2009, p. 40) are financial accounting policy selection, as well as its full disclosure in financial statements. The full disclosure financial accounting policy in financial statements is significant for stakeholders, as well: financial statements must be made, not just for regulators and investors, but also for other significant and non-significant stakeholders in order for a company to feel accountable in the community or society where it performs. Stakeholders require truthful and informative accounting