scholarly journals A behavioural perspective on the consumer decision-making process in the electricity market

2021 ◽  
pp. 18-27
Author(s):  
Aleksandra Aziewicz ◽  
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Electricity Market ◽  
Consumer Behaviour ◽  
Cognitive Biases ◽  
Behavioural Economics ◽  
Point Of View ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Individual Decisions

The aim of the paper is to (1) verify the validity of choosing behavioural economics to analyse irrational consumer behaviour in the electricity market and (2) considering the occurrence of cognitive biases, proposing actions influencing consumer behavior to achieve the desired effects. The reason for taking up this subject is the conviction that the neoclassical economic models cannot fully explain the phenomena observed in the electricity market. Those models assume that the process of making individual decisions in the market is fully rational. Meanwhile, observations and analyses of literature and research point to deviations from rationality in consumer behaviour in the electricity market. The paper will describe consumer behaviour in the electricity market and, if possible, characterise the observed deviations from rationality from the point of view of behavioural economics.

Impact of Digital Communication on Consumer Behaviour Processes in Luxury Branding Segment

2018 ◽  
pp. 132-157
Author(s):  
Harsha Gupta
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Consumer Behaviour ◽  
Digital Communication ◽  
Consumer Decision Making ◽  
Online Questionnaire ◽  
Consumer Decision ◽  
Luxury Branding ◽  
Buying Behaviour ◽  
The Impact

With a boom in digital marketing and the luxury sector in India, research in both the segments have become crucial for mining insights that guide consumer buying behaviour. However, both these constructs are comparatively new and have not been researched much. Hence, research in this field will help marketers across the corporate and academic sectors to understand deeper insights about consumer decision making process. This research will help in understanding how different vehicles of digital communication impact consumer behavior processes in the luxury brand apparel segment. The data for this research has been collected using an online questionnaire from respondents across India. Hence, this chapter will enable the readers in identifying which digital vehicles are most suitable for the different stages of the consumer behaviour process when marketing to luxury consumers; identifying the ranking of digital vehicles during consumer buying behaviour process; and analyzing the impact of various digital communications at different stages of the consumer behaviour process.

Consumer Decision-making at the Base of the Pyramid: Synthesis of Literature and an Integrative Framework

2018 ◽  
Vol 18 (3) ◽  
pp. 270-306
Author(s):  
Nanda Choudhury ◽  
Srabanti Mukherjee ◽  
Biplab Datta
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Consumer Behaviour ◽  
Marketing Strategies ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Base Of The Pyramid ◽  
Consumer Decision ◽  
Integrative Framework ◽  
New Perspective

As a pioneering effort, this study analyses the consumer decision-making process at the Base of the Pyramid (BoP). This study proposes consumer vulnerability, bounded rationality, locking-in effect and opportunism as major constructs influencing the consumer decision-making process at the BoP. Using a Systematic Literature Review (SLR), this study has integrated the transaction cost perspective into the consumer decision-making process at the BoP, which is a novel contribution to the literature of consumer behaviour. This work has recognised the importance of the retailer and its role in the decision-making process, and adds a new perspective to the study of BoP as well as to consumer behaviour theories. This study will be helpful to businesses while serving the BoP segment by crafting appropriate marketing strategies for this segment.

Global Consumer Behaviour in Luxury Goods Markets

2016 ◽  
pp. 1-28 ◽  
Author(s):  
Yuping Li
Keyword(s):  
Decision Making ◽  
Consumer Behaviour ◽  
Past Research ◽  
Cultural Dimensions ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Luxury Brands ◽  
Luxury Goods ◽  
Factors Affecting ◽  
Research Findings

In this chapter, the author presents an overview on global consumer behaviour in luxury goods markets. The discussion is based on the classic theories of consumer decision-making process and the important factors affecting the decision-making process. As global consumer behaviour in luxury goods markets is greatly affected by cultural differences, Hofstede's cultural dimensions theory is used to explain the various consumption behaviours displayed by consumers from different parts of the world. Past research findings are summarised, examples of consumer behaviours and appropriate marketing strategies implemented by luxury brands are also presented to assist readers for a better understanding of the topic.

E-Marketing and Online Consumer Behavior

2014 ◽  
pp. 366-381
Author(s):  
Neha Jain ◽  
Vandana Ahuja ◽  
Y. Medury
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Purchase Behavior ◽  
The Internet ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Strategy Formulation ◽  
Consumer Decision ◽  
Online Consumer Behavior ◽  
Digital Convergence

The evolution of human society, improvement in communication processes, and digital convergence have provided innovative opportunities and challenges for marketing as the Internet moves ahead to play significant roles in the consumer decision making process. This chapter explores significant issues in the context of the Internet, consumer decision making, and organizational strategy formulation. This framework addresses noteworthy aspects with respect to the role of the Internet in decision making, effect of the Internet on consumer behavior, post-purchase behavior, and the consumer decision-making process. It traces the research design and formulation of a research instrument to address the proposed issues.

E-Marketing and Online Consumer Behavior

2015 ◽  
pp. 2044-2059 ◽  
Author(s):  
Neha Jain ◽  
Vandana Ahuja ◽  
Y. Medury
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Purchase Behavior ◽  
The Internet ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Strategy Formulation ◽  
Consumer Decision ◽  
Online Consumer Behavior ◽  
Digital Convergence

The evolution of human society, improvement in communication processes, and digital convergence have provided innovative opportunities and challenges for marketing as the Internet moves ahead to play significant roles in the consumer decision making process. This chapter explores significant issues in the context of the Internet, consumer decision making, and organizational strategy formulation. This framework addresses noteworthy aspects with respect to the role of the Internet in decision making, effect of the Internet on consumer behavior, post-purchase behavior, and the consumer decision-making process. It traces the research design and formulation of a research instrument to address the proposed issues.

Making Conjoint Behavioural

2015 ◽  
Vol 57 (3) ◽  
pp. 495-502
Author(s):  
Leigh Caldwell
Keyword(s):  
Decision Making ◽  
Consumer Behaviour ◽  
Specific Aspect ◽  
Behavioural Economics ◽  
Consumer Decision Making ◽  
Rational Model ◽  
Consumer Decision ◽  
Accurate Reading

Traditional choice-based conjoint methods are based on an unrealistically rational model of consumer decision-making. These methods work accurately only if we assume that consumers can process all the information given to them, weigh it up and make a calculated, accurate decision. Modern discoveries in behavioural economics make it clear that these assumptions are incorrect. To accurately understand consumers’ decisions and preferences, conjoint methods must be updated to include behavioural understanding. This paper presents five ways in which this can be done: rank-finding conjoint, goal-attribute conjoint, intangible-attribute conjoint, algorithmic conjoint and contextual conjoint. Each of these extensions to the standard conjoint method can explore a specific aspect of the decision-maker's psychology, and together they result in a much deeper and more accurate reading of consumer behaviour and desires.

Impact of Digital Communication on Consumer Behaviour Processes in Luxury Branding Segment

2019 ◽  
pp. 1149-1170
Author(s):  
Harsha Gupta
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Consumer Behaviour ◽  
Digital Communication ◽  
Consumer Decision Making ◽  
Online Questionnaire ◽  
Consumer Decision ◽  
Luxury Branding ◽  
Buying Behaviour ◽  
The Impact

With a boom in digital marketing and the luxury sector in India, research in both the segments have become crucial for mining insights that guide consumer buying behaviour. However, both these constructs are comparatively new and have not been researched much. Hence, research in this field will help marketers across the corporate and academic sectors to understand deeper insights about consumer decision making process. This research will help in understanding how different vehicles of digital communication impact consumer behavior processes in the luxury brand apparel segment. The data for this research has been collected using an online questionnaire from respondents across India. Hence, this chapter will enable the readers in identifying which digital vehicles are most suitable for the different stages of the consumer behaviour process when marketing to luxury consumers; identifying the ranking of digital vehicles during consumer buying behaviour process; and analyzing the impact of various digital communications at different stages of the consumer behaviour process.

scholarly journals Demographic behavior of consumer towards selected brands of toothpaste

2017 ◽  
Vol 6 (1) ◽  
pp. 44-55
Author(s):  
Saumendra Das ◽  
Padhy P K
Keyword(s):  
Decision Making ◽  
Consumer Behavior ◽  
Social Environment ◽  
Personal Computer ◽  
Demographic Factors ◽  
Decision Making Process ◽  
Consumer Decision Making ◽  
Descriptive Research ◽  
Demographic Behavior ◽  
Buying Behaviors

Consumer decision-making process varies with the type of buying decision.There are great differences between buying a toothpaste brand, a tennis racket, a personal computer and a new car. Complex and expensive purchases are likely to involve more buyer deliberation and more participation. Usually evaluating consumer behavior goes afar from advertising and marketing concepts to connect consumers and to understand their behaviors,motivations and sincere needs. Further consumer behavior is individually influenced by physical and social environment where one has to assume his or her perception on product,brand, service, or company. However, they may purchase any products as a result of their moods and ambiance. Most of the time consumer feels secure when the products are satisfying their needs surround to society and environment that one lives and communicates easily with its demographic factors. In this particular study, the main purpose is to understand the demographic behavior of consumer towards selected brands of toothpaste. Here the researcher randomly selected 485 respondents from Berhampur city of Odisha state and adopted descriptive research design. The study provides the association between the buying behaviors of consumers towards selected brands of toothpaste with respect to their demographic factors. Further, the data has been analyzed by one way ANOVAs and results interpreted.

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