Term Papers On Consumer Behavior
For multichannel retailers, pricing strategy can be difficult to execute and confusing to shoppers.
Research by Elie Ofek and colleagues offers alternative approaches to getting the price right.
Firms increasingly deploy self-service technologies (SSTs) to manage customer interfaces that are inherently stressful.
For example, patients may be asked to use kiosks to check themselves into hospitals.
Many service settings could be improved if managers actively mitigated last place aversion.
Brand loyalty and risk aversion are topics that have puzzled and excited business leaders for the last century, both being taught in business schools around the country.
Both terms can define consumer behavior and investment strategies as well.
The former is concerned with how and why consumers remain loyal to certain brands (even if that means paying a premium over relatively similar competition) and the latter is concerned with the risks individuals and companies are willing to take.Encouraging consumers to purchase a more sustainable product or use resources more responsibly is a key challenge for society.This paper discusses experiments involving more than 7,000 participants to shed light on how information and its presentation regarding sustainable performance can be a tool for enhancing sustainable choices in practice.Here is recent Harvard Business School research on digital trends shaping how we shop and sell.Open for comment; Is it time to throw out the creative director and rely on big data to predict what consumers want to wear next?The author’s main assertion was that “relationship marketing scholars suggest that becoming loyal to a brand is one of the most general strategies consumers develop to reduce perceived risk” (Matzler 154).Indeed, this assertion is held up through other notable scholarship on the issue.We find that works for novices, but, beyond a point, it is counterproductive.Enthusiasts perform more like experts when they abandon language and just “draw the shape” of the taste.By default, brand loyalty is fairly self-explanatory; it deals with the perpetuation of good, positive feelings towards a specific product or service.Risk aversion, on the other hand, is roughly defined as the distancing of oneself from risky or unsafe products and services.