4. Consumer and buyer behaviour and the value proposition

2021 ◽  
pp. 47-62
Author(s):  
Kenneth Le Meunier-FitzHugh
Keyword(s):  
Decision Making ◽  
Value Proposition ◽  
Goods And Services ◽  
A Value ◽  
Buyer Behaviour ◽  
The Creation ◽  
Purchasing Patterns ◽  
Business To Business

This chapter addresses the importance of understanding both consumer and buyer behaviours in order for marketers to create effective marketing campaigns. Consumer and buyer behaviours are those actions undertaken when obtaining goods and services. By understanding how consumers think and how they behave during buying decision-making and purchasing activities, the marketer is able to exert some influence over their actions. Likewise, marketers can influence business-to-business (B2B) purchasing patterns through their understanding of the behaviour of buyers. The chapter then goes on to look at the creation of a value proposition.

Regular estimates of paddock pasture mass can improve profitability on New Zealand dairy farms

2015 ◽  
Vol 77 ◽  
pp. 29-34 ◽  
Author(s):  
P.C. Beukes ◽  
S. Mccarthy ◽  
C.M. Wims ◽  
A.J. Romera
Keyword(s):  
Supply And Demand ◽  
Grazing Management ◽  
Average Error ◽  
Value Proposition ◽  
Perfect Knowledge ◽  
Operating Profit ◽  
A Value ◽  
Main Driver ◽  
Imperfect Knowledge ◽  
Farm Scale

Paddock selection is an important component of grazing management and is based on either some estimate of pasture mass (cover) or the interval since last grazing for each paddock. Obtaining estimates of cover to guide grazing management can be a time consuming task. A value proposition could assist farmers in deciding whether to invest resources in obtaining such information. A farm-scale simulation exercise was designed to estimate the effect of three levels of knowledge of individual paddock cover on profitability: 1) "perfect knowledge", where cover per paddock is known with perfect accuracy, 2) "imperfect knowledge", where cover per paddock is estimated with an average error of 15%, 3) "low knowledge", where cover is not known, and paddocks are selected based on longest time since last grazing. Grazing management based on imperfect knowledge increased farm operating profit by approximately $385/ha compared with low knowledge, while perfect knowledge added a further $140/ha. The main driver of these results is the level of accuracy in daily feed allocation, which increases with improving knowledge of pasture availability. This allows feed supply and demand to be better matched, resulting in less incidence of under- and over-feeding, higher milk production, and more optimal post-grazing residuals to maximise pasture regrowth. Keywords: modelling, paddock selection, pasture cover

scholarly journals Legal Complexities of Animal Welfare in Australia: Do On-Animal Sensors Offer a Future Option?

Animals ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 91
Author(s):  
Jaime Manning ◽  
Deborah Power ◽  
Amy Cosby
Keyword(s):  
Animal Welfare ◽  
Data Transmission ◽  
Continuous Measurement ◽  
Mental Wellbeing ◽  
Value Proposition ◽  
Data Governance ◽  
Behavioural State ◽  
A Value ◽  
Welfare Measures ◽  
The Cost

The five freedoms and, more recently, the five domains of animal welfare provide internationally recognised frameworks to evaluate animal welfare practices which recognise both the physical and mental wellbeing needs of animals, providing a balanced view of their ability to cope in their environment. Whilst there are many techniques to measure animal welfare, the challenge lies with how best to align these with future changes in definitions and expectations, advances in science, legislative requirements, and technology improvements. Furthermore, enforcement of current animal welfare legislation in relation to livestock in Australia and the reliance on self-audits for accreditation schemes, challenges our ability to objectively measure animal welfare. On-animal sensors have enormous potential to address animal welfare concerns and assist with legislative compliance, through continuous measurement and monitoring of an animal’s behavioural state and location being reflective of their wellbeing. As reliable animal welfare measures evolve and the cost of on-animal sensors reduce, technology adoption will increase as the benefits across the supply chain are realised. Future adoption of on-animal sensors by producers will primarily depend on a value proposition for their business being clear; algorithm development to ensure measures are valid and reliable; increases in producer knowledge, willingness, and trust in data governance; and improvements in data transmission and connectivity.

scholarly journals Internationalization of SMEs and Effectuation: The Way Back and Forward

Proceedings ◽  
2018 ◽  
Vol 2 (24) ◽  
pp. 1422 ◽  
Author(s):  
Hamza El Guili ◽  
Driss Ferhane
Keyword(s):  
Decision Making ◽  
Business Growth ◽  
Entrepreneurial Behavior ◽  
Entrepreneurship Research ◽  
Early Stages ◽  
Theoretical Perspectives ◽  
Theoretical Paper ◽  
Similarities And Differences ◽  
The Creation ◽  
To Come

Business growth is considered as one of the main topics of entrepreneurship research. Due to the increased interest on entrepreneurship, new theoretical perspectives have emerged to explain entrepreneurial behavior. One of these emergent theories is effectuation. It is widely known that entrepreneurs and owner-managers count on different decision-making logics during the internationalization of their ventures, including causal and effectual reasoning. Despite that the use of effectual reasoning has been generally linked to the early stages of the creation of a venture; it has recently been introduced to on the internationalization of SMEs research. Introduced by Sarasvathy (2001), effectuation logic is stated to grow in an unstable operating context where it is complicated to predict and in contrast, it is likely to unexpectedly respond to changes in the environment. Furthermore, it represents a typical shift in approaching entrepreneurship. In this theoretical paper, we first aim to highlight the evolution of the concept and the development of the effectuation theory within the literature. Furthermore, we explain the similarities and differences existing between causation and effectuation reasoning. Finally, we use the lens of effectuation to come up with an understanding of the internationalization of SMEs.

scholarly journals The creation of a training model to support decision-making of emergency management practitioners: a design research study

2016 ◽  
Vol 25 (sup1) ◽  
pp. 558-565 ◽  
Author(s):  
Nora McCarthy ◽  
Karen Neville ◽  
Andrew Pope ◽  
Anthony Gallagher ◽  
Alexander Nussbaumer ◽  
...  
Keyword(s):  
Decision Making ◽  
Emergency Management ◽  
Design Research ◽  
Research Study ◽  
Training Model ◽  
The Creation ◽  
Support Decision Making

scholarly journals La complexité de valeurs dans la politique étrangère de l'administration Reagan face à l'Iran

2005 ◽  
Vol 27 (3) ◽  
pp. 533-551
Author(s):  
André Lecours
Keyword(s):  
Decision Making ◽  
Foreign Policy ◽  
Soviet Union ◽  
Middle East ◽  
American Foreign Policy ◽  
Policy Issue ◽  
Political Stability ◽  
Classic Problem ◽  
A Value ◽  
Complexity Problem

The formulation of a policy that will satisfy several values and interests more or less compatible is a classic problem of political decision making. This phenomenon by which there can be, in a foreign policy issue for example, several divergent values and interests was named value-complexity by Alexander George. When facing a value complexity problem, a decision maker must choose some values and some interests over others. The choice he makes will not necessarily be the one made by other decision makers. This can result in a serious impediment to the decision making process. The American foreign policy towards the Middle East faced, for the major part of the Cold War era, a value-complexity problem because it looked to reconcile four hard-to reconcile values and interests. The Reagan government was confronted rather acutely with this problem in the making of its Iranian policies. The administration was split in at least two factions over Iran : one who thought primarily of containing the Soviet Union in the Middle East region and the other for whom the political stability of moderate regimes threatened by revolutionnary Iran should be the most important priority. The existence of these factions, consequence of value-complexity, produced the making and the implementation of two distinct Iranian policies.

A value proposition for cyberspace management in organizations

2018 ◽  
Vol 35 (3) ◽  
pp. 122-127 ◽  
Author(s):  
Jestine Philip ◽  
Manjula S Salimath
Keyword(s):  
Nonprofit Organizations ◽  
Value Creation ◽  
Positive Contribution ◽  
Value Proposition ◽  
A Value ◽  
Organizational Value

The rapidly increasing significance of cyberspace and the corresponding use of new cyberspace technologies are seen in private, public, and nonprofit organizations across the globe. However, along with the abundant organizational advantages of operating in cyberspace, it also creates vulnerabilities such as the possibility of cyberattacks which can erode value. In light of these current realities, we propose a value creation agenda for organizations that operate in cyberspace. We suggest that when organizations effectively manage the risks associated with cyberattacks and continue to attain benefits from cyberspace, there is a positive contribution toward organizational value.

Identifikation und Auswahl von Business Ecosystems*/Identification and selection of business ecosystems. Procedure and strategic and operative integration in industrial companies

2019 ◽  
Vol 109 (04) ◽  
pp. 294-301
Author(s):  
R. E. Geitner ◽  
T. Bauernhansl
Keyword(s):  
Value Proposition ◽  
Business Ecosystem ◽  
Industrial Companies ◽  
A Value ◽  
Basic Procedure ◽  
Business Ecosystems ◽  
Value Propositions ◽  
Operational Integration ◽  
A Company ◽  
Selection Of

Die fortschreitende Digitalisierung führt zu neuen und konvergierenden Produkt- und Dienstleistungen und effizienteren Prozessen. In Verbindung mit einem Wandel der Bedürfnisse führt sie darüber hinaus auch zu einem veränderten Nutzerverhalten und Nutzenverständnis der Kunden. Zur flexiblen und schnellen Umsetzung von passgenau individualisierten, oft branchenübergreifenden Wertangeboten und der Absicherung des Kundenzugangs wird es zukünftig wettbewerbsentscheidend sein, sich im richtigen Business Ecosystem – also der Gruppe von Akteuren die interagieren müssen, um ein entsprechendes Wertangebot zu realisieren und den entsprechenden Kundenzugang haben – zu bewegen und dieses mitzugestalten. Der Beitrag beschreibt das grundsätzliche Vorgehen zur Identifizierung und Auswahl relevanter Business Ecosystems sowie deren strategische und operative Einbindung in ein Unternehmen.   The ongoing digitization leads to new and converging product benefits and more efficient processes. In connection with a change in needs it also leads to a change in user behaviour and understanding of the benefits for customers. For the flexible and fast implementation of customized, individualized, often cross-industry value propositions and the safeguarding of access to customers, it will be crucial in the future to act and help to shape the relevant business ecosystems (group of actors that need to interact in order to realize a value proposition or to have access to customers). The article describes the basic procedure for identifying and selecting relevant business ecosystems and their strategic and operational integration into a company.

A Value Focused Thinking Approach to Decommissioning Decision Making

2021 ◽  
Author(s):  
Aaron Tung
Keyword(s):  
Decision Making ◽  
Scientific Evidence ◽  
Analysis Tool ◽  
Stakeholder Values ◽  
A Value ◽  
Value Focused Thinking ◽  
Science Theory ◽  
Past Experiences ◽  
Stakeholder Acceptance

Abstract Values are what stakeholders regard to be important to decisions (Kruglanski & Higgins 2007). How stakeholder prioritize, rank, balance, and trade-off values can have significant influence on their reasoning and evaluation of decommissioning outcomes and decisions. Stakeholder values can vary depending on various factors including religious beliefs, personal interests, and past experiences (Lechner et al., 2017). Value-focused thinking is a decision science theory developed by Keeney (1992) which builds upon the concept of varying stakeholder values. Keeney (1992) argues that the best decision is one that best reflects the actual values of stakeholders. which suggests that the acceptability of decommissioning decisions (full removal, partial removal, leave in-situ, rigs-to-reefs, etc.) by stakeholders will vary depending on the values of stakeholder in that particular context. This paper explores the idea of value-focused thinking and derive implications for decommissioning decision-making. Overall, the research finding suggests that rather than basing a decommissioning decision solely on scientific evidence, there is also a need for the decommissioning decisions to be able to reflect the actual values of stakeholders in that particular context. The criteria and weightage of the adopted multi-criteria decision analysis tool, for example, should accurately represent the actual values of stakeholders, so as to enable the tool to produce outcomes and decisions that has a higher probability of stakeholder acceptance.

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