Journal articles on the topic 'Consumer judgment and decision making'
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Schwarz, Norbert. "Metacognitive Experiences in Consumer Judgment and Decision Making." Journal of Consumer Psychology 14, no. 4 (January 2004): 332–48. http://dx.doi.org/10.1207/s15327663jcp1404_2.
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Cowan, Kirsten, and Atefeh Yazdanparast. "Moral foundations and judgment: conceptualizing boundaries." Journal of Consumer Marketing 36, no. 3 (May 13, 2019): 356–65. http://dx.doi.org/10.1108/jcm-01-2018-2548.
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Purpose Even though the definitions of morality may seem to provide straightforward criteria to assess the morality of individuals, moral judgments are challenging and less exact. This paper aims to advance extant work on morality and moral judgment by providing a conceptualization of boundary conditions in the relationship between moral judgments and consumer behavior. Design/methodology/approach An interdisciplinary literature review is conducted to integrate extant knowledge on morality, moral judgment and consumer behavior to identify and conceptualize boundary conditions affecting moral judgments and decision-making. The research draws on moral foundation theory and norm activation model, and the proposed factors and relationships are grounded in construal level theory and regulatory focus theory. Findings The research identifies cultural, individual and situational factors that influence moral judgments and decision-making and argues that moral judgments exhibit a similar pattern across types, but cultural factors determine the salience of each moral foundation type. Moreover, construal factors relevant to the situation (i.e. proximity vs distance) affect the extent and manner of moral judgments, and individual mindsets and their associated information processing styles (e.g. money vs time orientation and promotion vs prevention orientation) make moral judgments more malleable, adding a degree of variability to judgments within similar cultures and situations. Originality/value The research makes a rather unique contribution to consumer morality literature by identifying and discussing three different groups of factors with the potential to impact individuals’ judgments of, and reactions to, moral foundation violation information.
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Ha, Young-Won. "A 40-Year Journey in Consumer Judgment and Decision-Making Research." Korean Journal of Marketing 36, no. 2 (May 31, 2021): 127–42. http://dx.doi.org/10.15830/kjm.2021.36.2.127.
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Abhyankar, Aditi. "Behavioural Economics Towards Better Decision Making." Journal of Global Economy 16, no. 2 (June 14, 2022): 1–10. http://dx.doi.org/10.1956/jge.v16i2.648.
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Often, Individuals try to choose the best feasible option but sometimes, they don’t succeed in doing so. They make mistakes. Also, the market exchange makes psychological factors cease to matter but many psychological factors matter even for the markets.
In contrast to the traditional assumption of neoclassical economics that individuals are rational Homooeconomici, that always seek to maximize their utility and follow their “true” preferences, research in behavioural economics has demonstrated that people’s judgments and decisions are often subject to systematic biases and heuristics, and are strongly dependent on the context of the decision.
The insights from behavioural economics (BE) are now a well-established feature in consumer research and policy. Today, in fields from health behaviour to pension saving, from investment decisions to food choice, from sustainable consumption to the design of warning signs, the empirical and theoretical insights of BE have become a cornerstone of understanding consumer behaviour, helping inform policymakers on how to nudge people to make better, smarter, healthier and more sustainable choices (World Bank, 2014). BE is concerned with the question of how people actually behave in decision-making situations and how their choices can be improved so that consumers’ welfare is enhanced. For the market, it is always crucial to enhance sales every next quarter, using appropriate strategies.
This paper makes a humble effort to briefly review the transition of the neoclassical (optimising) decision-making towards newer and better insights into behavioural economics and discuss how the latter has influenced and enhanced consumer behaviour and consumer policy on one hand and marketing strategy on the other.
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Huang, Rong, Xinyue Zhou, Weiling Ye, and Siyuan Guo. "Think versus feel: two dimensions of brand anthropomorphism." Journal of Product & Brand Management 29, no. 7 (February 14, 2020): 955–69. http://dx.doi.org/10.1108/jpbm-11-2018-2125.
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Purpose This paper aims to clarify an important nuance by proposing that people attribute human mind to brands on two distinct dimensions: think and feel. Design/methodology/approach Eight studies were conducted to first develop and validate the 14-item Brand Anthropomorphism Questionnaire, and then to investigate how the two subscales, think or feel dimensions, influence consumer moral judgment of brands. Findings This research developed a 14-item Brand Anthropomorphism Questionnaire with two subscales, which are psychometrically sound and show discriminant validity with regard to existing brand constructs. Furthermore, think or feel brand anthropomorphism dimensions can predict consumers’ moral judgment of brands. Research limitations/implications The present research offers preliminary evidence about the value of distinguishing between think brand and feel brand in consumer moral judgment. Further research could investigate other potential impact of the two dimensions, and possible antecedents of think/feel dimensions. Practical implications Managers can use the scale for assessment, planning, decision-making and tracking purposes. In addition, in the event of brand scandal or brand social responsibility activities, public-relations efforts can use the findings to earn or regain the trust of consumers, as this research demonstrates that marketers can shape (tailor) the feel or think dimensions of brand perception to change consumers’ moral judgment of the brands. Originality/value This research makes theoretical contribution to the brand anthropomorphism literature by differentiating the two dimensions and exploring the influence of anthropomorphism of consumer moral judgment.
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Tian, Ziyuan, Xixiang Sun, Jianguo Wang, Weihuan Su, and Gen Li. "Factors Affecting Green Purchase Intention: A Perspective of Ethical Decision Making." International Journal of Environmental Research and Public Health 19, no. 18 (September 6, 2022): 11151. http://dx.doi.org/10.3390/ijerph191811151.
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Environmental protection issues are closely related to moral factors, but little research has explored the factors affecting green purchase intention from the aspect of morality. Based on a perspective of ethical decision making, this study investigates the impacts of perceived quality and perceived price on moral intensity and moral judgment, through the moderation of products’ green degree, as well as the impacts of moral intensity and moral judgment on green purchase intention. Research data was collected through a questionnaire survey of 368 consumers in China, and analyzed using a hierarchical linear model. The empirical results reveal that moral intensity and moral judgment significantly promoted green purchase intention. Perceived quality and perceived price both positively affected moral intensity and moral judgment. Products’ green degree positively moderated the relationship between perceived price and moral judgment as well as the relationship between perceived quality and moral judgment. This study provides a new insight into promoting green purchase intention, and the findings may also assist marketers in developing future tactics to increase consumers’ green purchase intention.
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Lindenmeier, Jörg, Michael Lwin, Henrike Andersch, Ian Phau, and Ann-Kathrin Seemann. "Anticipated Consumer Guilt." Journal of Macromarketing 37, no. 4 (August 7, 2017): 444–59. http://dx.doi.org/10.1177/0276146717723964.
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This study considers fair-trade as a collaborative strategy of dealing with the wicked problem of apparel sweatshops. The study assumes that consumer guilt increases the market share of fair-trade products which can be regarded as a favorable change in the marketing system’s output. The paper develops and validates a model of guilt-induced fair-trade buying based on this notion. The model comprises negative affect, ethical judgment, and self-efficacy as antecedents of anticipated consumer guilt. The study’s results, based on a sample of American consumers (n = 430) and analyzed in a structural equation model, reveal anticipated guilt as a major driver of fair-trade buying behavior. Furthermore, anticipated consumer guilt mediates the effects of its antecedents on fair-trade buying intention. The paper provides implications for macro-decision making (e.g., guilt-inducing nudges) as well as suggestions for marcromarketing research.
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Wegener, Duane T., Richard E. Petty, Kevin L. Blankenship, and Brian Detweiler-Bedell. "Elaboration and numerical anchoring: Implications of attitude theories for consumer judgment and decision making." Journal of Consumer Psychology 20, no. 1 (January 2010): 5–16. http://dx.doi.org/10.1016/j.jcps.2009.12.003.
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Basu, Shankha, and Krishna Savani. "Choosing Among Options Presented Sequentially or Simultaneously." Current Directions in Psychological Science 28, no. 1 (December 26, 2018): 97–101. http://dx.doi.org/10.1177/0963721418806646.
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When choosing among multiple options, people can view the options either one at a time or all together. In this article, we review an emerging stream of research that examines the ways in which viewing options sequentially as opposed to simultaneously influences people’s decisions. Multiple studies support the idea that viewing options simultaneously encourages people to compare the options and to focus on the ways in which the options differ from each other. In contrast, viewing options sequentially encourages people to process each option holistically by comparing the option with previously encountered options or a subjective reference point. Integrating research from judgment and decision making, consumer behavior, experimental economics, and eyewitness identification, we identify ways in which the different processing styles elicited by sequential- and simultaneous-presentation formats influence people’s judgment and decision making. This issue is particularly important because presenting options either sequentially or simultaneously is a key element of choice architecture.
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Rajagopal, Navaneetha Krishnan, Naila Iqbal Qureshi, S. Durga, Edwin Hernan Ramirez Asis, Rosario Mercedes Huerta Soto, Shashi Kant Gupta, and S. Deepak. "Future of Business Culture: An Artificial Intelligence-Driven Digital Framework for Organization Decision-Making Process." Complexity 2022 (July 30, 2022): 1–14. http://dx.doi.org/10.1155/2022/7796507.
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Technological efforts are currently being used across a broad array of industries. Through the combination of consumer choice and matching principle, the goal of this paper is to investigate the prospective implications of artificial intelligence systems on businesses’ outcomes. From an entrepreneurship standpoint, the research revealed that artificial intelligence systems can help with better decision-making. What impact does the introduction of AI-based decision-making technologies have on organizational policymaking? The quirks of human and AI-based policymaking are identified in this research based on five important contextual factors: precision of the choice search area, contribution to the innovation of the policymaking process and result, volume of the replacement collection, policymaking pace, and generalizability. We create a novel paradigm comparative analysis of conventional and automation judgment along these criteria, demonstrating how both judgment modalities can be used to improve organizational judgment efficiency. Furthermore, the research shows that, by involving internal stakeholders, they can manage the correlation among AI technologies and improve decision for businessmen. Furthermore, the research shows that customer preferences and industry norms can moderate the link between AI systems and superior entrepreneurial judgment. The goal of this work is to conduct a thorough literature analysis examining the confluence of AI and marketing philosophy, as well as construct a theoretical model that incorporates concerns based on established studies in the areas. This research shows that, in a setting with artificial intelligence systems, customer expectation, industry standards, and participative management, entrepreneurial strategic decisions are enhanced. This research provides entrepreneurs with technology means for enhancing decision-making, illustrating the limitless possibilities given by AI systems. A conceptual approach is also formed, which discusses the four factors of profit maximization: relationship of AI tools and IT with corporate objectives; AI, organizational learning, and decision-making methodology; and AI, service development, and value. This study proposes a way to exploit this innovative innovation without destroying society. We show real-world examples of each of these frameworks, indicate circumstances in which they are likely to improve decision-making performance in organizations, and provide actionable implications into their constraints. These observations have a wide variety of implications for establishing new management methods and practices from both academic and conceptual viewpoints.
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Misra, Srabani, Jana Salacova, and Jiri Militky. "Multicriteria Decision-Making in Complex Quality Evaluation of Ladies Dress Material." Autex Research Journal 20, no. 3 (September 18, 2020): 288–98. http://dx.doi.org/10.2478/aut-2019-0048.
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AbstractQuality is the essence of any product for consumer satisfaction. However, different people have different perception of quality. Eventually the definition of quality varies from product to product and thus it is much more complex in textile clothing material evaluation. The end use application of a specific clothing material determines what should be the parameters of quality evaluation. Thus, the evaluation based on subjective assessment becomes unpredictable and unquantifiable. Quality for dress materials is not simply a physical parameter but something called as psycho-physical parameter. In recent times, many objective evaluation systems have been developed to evaluate the apparel grade textile materials with regard to their quality parameters. However, the evaluation does not involve enough statistical treatment of data so as to obtain a parametric weighted characterization of complex quality. The current work deals with parametric approach to complex quality evaluation based on multicriteria decision-making approach for ladies dress materials. The ladies dress materials are of numerous varieties and choices across the globe. The selection and marketing of these kinds of textile materials need to be given proper emphasis as it depends not only on physical parameters but also on climate, geography, ethnic group, market trend, age group, gender, and many such complex parameters, which are not quantifiable in absolute terms. In this study, woven fabrics used for ladies dress materials are collected from the market and they were evaluated for the consumer-oriented property parameters. A parametric approach is adopted to quantify the overall quality of these dress materials. Various objective techniques were used to evaluate the comfort and esthetic parameters. A complex quality index (CQI) was estimated with weighted combination of all the contributing parameters and total quality index was calculated. Selected consumers with different education level, age, and gender were interviewed to get a statistic of their opinion about quality parameters preferred by them. This complex quality index/degree of satisfaction shows very high correlation with subjective judgment. A CQI can be evaluated for each kind of clothing material looking into their applications.
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Chen, Lihong, Habiba Halepoto, Chunhong Liu, Naveeta Kumari, Xinfeng Yan, Qinying Du, and Hafeezullah Memon. "Relationship Analysis among Apparel Brand Image, Self-Congruity, and Consumers’ Purchase Intention." Sustainability 13, no. 22 (November 18, 2021): 12770. http://dx.doi.org/10.3390/su132212770.
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Brand image has been a crucial clue to making subjective judgment for consumers to determine the brand, which is critical to making a purchase decision. The influence mechanism from apparel brand images on consumers’ purchase intention was explored for theoretical and positive analysis based on the self-congruity theory. This research first constructed a hypothetical model of apparel brand images influencing consumers’ purchase intention with self-congruity and perceived quality as mediators, in which a questionnaire was designed and conducted to test the theoretical model. The research shows that apparel brand image and perceived quality can significantly influence consumers’ purchase intention. The consumer purchase intention is directly related to clothing brand image provided self-consistency and perceived quality play an intermediary with the regulatory effect of self-motivation and brand familiarity. A positive attitude toward apparel brand image will stimulate consumers to build cognitive clues and associations between the consumers and the brand and strengthen cognitive consistency with the apparel brand’s spirit. The research results are beneficial to textile fashion and clothing enterprises to improve brand building and marketing.
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Shaw Hughner, Renée, and Susan Schultz Kleine. "Variations in Lay Health Theories: Implications for Consumer Health Care Decision Making." Qualitative Health Research 18, no. 12 (December 2008): 1687–703. http://dx.doi.org/10.1177/1049732308327354.
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Wide variations in how contemporary consumers think about health and make health care decisions often go unrecognized by health care marketers and public policy decision makers. In the current global environment, prevailing Western viewpoints on health and conventional biomedicine are being challenged by a countervailing belief system forming the basis for alternative health care practices. The ways American consumers once thought about health have changed and multiplied in this new era of competing health paradigms. Our study provides empirical evidence for this assertion in two ways. First, it demonstrates that in the current environment consumers think about health and health care in a multiplicity of very different ways, leading to the conclusion that we should not classify health care consumers as either conventional or alternative. Second, the results provide clues as to how individuals holding diverse health theories make health care decisions that impact health behaviors, treatment efficacy, and satisfaction judgments.
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Simonson, Itamar, and Aner Sela. "On the Heritability of Consumer Decision Making: An Exploratory Approach for Studying Genetic Effects on Judgment and Choice." Journal of Consumer Research 37, no. 6 (April 1, 2011): 951–66. http://dx.doi.org/10.1086/657022.
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Fennis, Bob M., and Wolfgang Stroebe. "Softening the Blow: Company Self-Disclosure of Negative Information Lessens Damaging Effects on Consumer Judgment and Decision Making." Journal of Business Ethics 120, no. 1 (February 14, 2013): 109–20. http://dx.doi.org/10.1007/s10551-013-1647-9.
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RÓŻOWICZ, Konrad. "Bid rigging in public procurement market according to the decisions of the President of the Office of Competition and Consumer Protection." Central and Eastern European Journal of Management and Economics 5, no. 2 (January 7, 2018): 161. http://dx.doi.org/10.29015/ceejme.624.
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Aim: In the practice of awarding public contracts, sometimes the behavior of market actors, instead of competing with other entities, are aimed at illegal cooperation, including bid rigging. The above shows that healthy competition is not possible without efficient market control. In public procurement market this control is, primarily, carried out by public procurement entities: the President of the Public Procurement Office (Prezes UZP) and the National Appeal Chamber (KIO), and furthermore by President od the Office of Competition (Prezes UOKiK) and Consumer Protection and the Court od Competition and Consumer Protection. and Consumer Protection (SOKiK). The interesting issue is how the activities of the President of Office of Competition and Consumer Protection targeted to contend with bid rigging affects on the activities of President of the Public Procurement Office (Prezes UZP) or the National Appeal Chamber (KIO). Design / Research methods: analysis and comparison decisions/ judgment issued by the President of the Public Procurement Office, National Appeal Chamber, the President of the Office of Competition and Consumer Protection and the Court of Competition and Consumer Protection. Conclusions: The analysis has shown that the existence of specificities in the activities of the decision-making bodies and the judgments examined. However, in keeping with the specificity of the forms and objectives of control, these entities should cooperate, to a greater extent than before. Expanding the scope of cooperation would make it possible to better contend with bid rigging without changing the competition protection model. The introduction of institutionalized instruments for cooperation between the authorities seems to be valuable in terms of system solutions. Value of the article: The main value of the article is the comparison of selectively selected decisions and judgments representative of the problem under consideration and their comparative analysis in order to achieve the research objectives. The article deals with issues relevant to both public procurement practitioners and the state bodies dealing with procurement matters.
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Shan, Lijie, Shusai Wang, Linhai Wu, and Fu-Sheng Tsai. "Cognitive Biases of Consumers’ Risk Perception of Foodborne Diseases in China: Examining Anchoring Effect." International Journal of Environmental Research and Public Health 16, no. 13 (June 27, 2019): 2268. http://dx.doi.org/10.3390/ijerph16132268.
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Consumer cognitive biases arise from judgment and decision-making due to their limitations in information processing. As one of the important cognitive biases, the anchoring effect plays a significant role in interfering with consumers’ risk perception. With a stratified random approach, we collected survey data from 375 consumers in Wuxi, Jiangsu Province, China. Based on these data, this study attempted to analyze the anchoring effect in consumers’ risk perception of foodborne diseases (FBDs) and the differences in their perception before and after intervention in a contrast experiment using the anchoring index and the Wilcoxon signed-rank test. The results confirm the existence of the proposed anchoring effect. Moreover, the experimenter-provided anchor value, a history of FBD, and familiarity with FBD were found to be important factors influencing this anchoring effect. Therefore, improving consumers’ risk perception of FBD is critical to the long-term prevention of FBD risks by the government and consumers. The government should strengthen active monitoring, publicity, and education about FBD.
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Harvey, Hosea. "Opening Schumer’s Box: The Empirical Foundations of Modern Consumer Finance Disclosure Law." University of Michigan Journal of Law Reform, no. 48.1 (2014): 59. http://dx.doi.org/10.36646/mjlr.48.1.opening.
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This Article explores the fundamental failure of Congress’ twenty-five-year quest to utilize disclosure as the primary tool to both regulate credit card issuers and educate consumers. From inception until present, reforms to this disclosure regime, even when premised on judgment and decision-making behavioralism, were nomothetic in orientation and ignored clear differences in population behavior and the heterogeniety of consumers. Current law prohibits credit card issuers from acquiring consumer socio-demographic data and prevents issuers and regulators from using market and policy experimentation to enhance disclosure’s efficacy. To explain why this regime was structured this way and why it must change, this Article contains four key sections: (1) a comprehensive review of the creation of our modern consumer credit card regulatory scheme; (2) a survey of the empirical evidence used to update and expand that disclosure-centered regime over twenty-five years; (3) an account of why the existing scheme’s disclosure function substantially fails, notwithstanding recent reforms; and (4) an argument that to achieve optimal credit card disclosure efficacy, the law must permit issuers to acquire and utilize customer socio-demographic information, including race, gender, and other characteristics.
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Zollo, Lamberto, Sukki Yoon, Riccardo Rialti, and Cristiano Ciappei. "Ethical consumption and consumers’ decision making: the role of moral intuition." Management Decision 56, no. 3 (March 12, 2018): 692–710. http://dx.doi.org/10.1108/md-10-2016-0745.
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Purpose The purpose of this paper is to explore the understudied antecedents of moral reasoning and cognitive processes that ultimately shape the ethical consumption. The theory of planned behavior (TPB) and the socio-intuitionist model are integrated. Holistic, inferential, and affective dimensions of intuition are identified as critical antecedents of environmental concerns that then influence the ethical consumption. Design/methodology/approach Structural equation modeling is used to analyze intuitive judgments and ethical concerns in 256 US undergraduates. The New Ecological Paradigm (NEP) is used to measure ethical concerns and the ecologically conscious consumer behavior (ECCB) instrument is used to measure ethical consumption. Findings The results indicate that inferential intuition, but not affective intuition, significantly predicts the ethical concerns (NEP), which in turn significantly influence all five dimensions of ethical consumption behavior (ECCB). Practical implications Managers and marketing strategists should focus on non-rational influences such as moral intuition to effectively promote ethical and responsible consumption. Originality/value The TPB and the intuitionist theory are integrated to reveal empirically how intuitive judgments may affect consumer attitudes and to provide new insights regarding the ethical consumption.
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Hou, Wenhui, and Caiwen Niu. "A Consumer-Oriented Car Style Evaluation System Based on Fuzzy Mathematics and Neural Network." International Journal of Circuits, Systems and Signal Processing 15 (August 24, 2021): 986–95. http://dx.doi.org/10.46300/9106.2021.15.106.
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As an important link in product development, car style evaluation could ensure the quality of car style design, making the design more efficient, laying the foundation for production planners, production managers, and investment decision-makers in automobile manufacturing. The consumer-centered evaluation should accurately reflect the psychological cognition and subjective feelings of consumers. However, the current studies have not provided a unified evaluation standard, nor fully utilized the massive data on the evaluations made by consumers. Considering in advantages of fuzzy mathematics and neural network in processing massive data on consumer evaluations, this paper designs a consumer-oriented car style evaluation system based on these two techniques. Firstly, a scientific evaluation index system was designed for consumer-oriented car style evaluation, the index scores were classified into different levels, and a judgment matrix was constructed for indices on each layer and subject to consistency check. Next, absolute weights were assigned to alternatives, and the corresponding fuzzy membership functions were determined, producing a fuzzy comprehensive evaluation (FCE) model based on analytic hierarchy process (AHP) (AHP-FCE model) for car style evaluation. Furthermore, car styles were categorized by appearance structure, and the car style samples were parametrized for evaluation. Finally, particle swarm optimization (PSO) was improved, and then combined with backpropagation neural network (BPNN) into a classification model for consumer-oriented car style evaluation. The proposed consumer-oriented car style evaluation model was proved effective and superior through experiments. The results offer a reference for the application of the model in other evaluation scenarios
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Grechko, M. V., L. A. Kobina, and S. A. Goncharenko. "The transformation of the decision-making process on the part of economic agents influenced by social constraints." National Interests: Priorities and Security 16, no. 7 (July 16, 2020): 1202–22. http://dx.doi.org/10.24891/ni.16.7.1202.
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Subject. The article focuses on the decision-making mechanism used by economic agents given the existing social constraints. Objectives. We devise applied toolkit to study how socio-economic constraints transform the decision-making mechanism used by economic agents. Methods. The study involves means of the expert survey, the method that streamlines economic knowledge. Results. Social constraints are illustrated to influence the decision-making mechanism used by economic agents, assuming that the individual mind relies on specific mechanisms to make judgments and decisions. Generally, the mechanisms are very useful, however they may generate serious errors during the decision-making process. Given the social constraints, economic agents were found to follow four mental models to make their decisions in case of the full or partial uncertainty, i.e. the representative relevance, accessibility, relations, heuristics (modeling). Conclusions and Relevance. The scientific ideas herein show that the inner architecture of a choice an individual makes determines his or her decisions. The decisions often depend on the contextual environment that gives external signals perceived by the individual while evaluating alternative ways. The findings can possibly be used as a mechanism to manage the consumer choice.
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Satriansyah, Arief. "Faktor Bauran Pemasaran Yang Mempengaruhi Konsumen Terhadap Keputusan Pembelian Produk Pada Konsumen Starbucks Coffee." Widya Cipta - Jurnal Sekretari dan Manajemen 3, no. 1 (March 19, 2019): 157–64. http://dx.doi.org/10.31294/widyacipta.v3i1.5283.
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Abstract - This research was conducted to find out how much influence of the product, price, place and promotion on Starbucks Coffee Bogor city consumers' decision making. The research used the survey method with a sample of 100 people. The sampling technique is non-probability sampling: judgment sampling. The analytical method used is the method of correlation analysis and multiple regression. The results of the study show that both partially and jointly the factors of product, price, place, and promotion have a significant influence on product purchase decision making. The higher the level of influence of the product, price, place and promotion, the stronger the influence of product purchasing decisions. Based on the results of the analysis of the factors that influence the purchasing decision shows the adjusted R2 value of 0.663, this means that all variables derived from the marketing mix have a joint contribution of 66.3% to the dependent variable (Y), namely the purchasing decision. The remaining 33.7% is influenced by other factors. Keywords: marketing mix, decision making, Starbuck Coffee
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Liu, Yishu, and Jun Li. "Brand Marketing Decision Support System Based on Computer Vision and Parallel Computing." Wireless Communications and Mobile Computing 2022 (March 30, 2022): 1–14. http://dx.doi.org/10.1155/2022/7416106.
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With the rapid development of information technology, decision support systems that can assist business managers in making scientific decisions have become the focus of research. At present, there are not many related studies, but from the brand marketing level, there are not many studies combining smart technology. Based on computer vision technology and parallel computing algorithms, this paper launches an in-depth study of brand marketing decision support systems. First, use computer vision technology and Viola-Jones face detection framework to detect consumers’ faces, and use the classic convolutional neural network model AlexNet for gender judgment and age prediction to analyze consumer groups. Then, use parallel computing to optimize the genetic algorithm to improve the running speed of the algorithm. Design the brand marketing decision support system based on the above technology and algorithm, analyze the relevant data of the L brand, and divide the functional structure of the system into three parts: customer market analysis, performance evaluation, and demand forecasting. The ROC curve of the Viola-Jones face detection framework shows its superior performance. After 500 iterations of the AlexNet model, the verification set loss of the network is stable at 1.8, and the accuracy of the verification set is stable at 38%. Parallel genetic algorithms run 1.8 times faster than serial genetic algorithms at the lowest and 9 times faster at the highest. The minimum prediction error is 0.17%, and the maximum is 2%, which shows that the system can make accurate predictions based on previous years’ data. Computer vision is a technique that converts still image or video data into a decision or a new representation. All such transformations are done to accomplish a specific purpose. Therefore, a brand marketing decision support system based on computer vision and parallel computing can help managers make scientific decisions, save production costs, reduce inventory pressure, and enhance the brand’s competitive advantage.
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McCaffrey, Matthew, and Joseph T. Salerno. "BÖHM-BAWERK’S APPROACH TO ENTREPRENEURSHIP." Journal of the History of Economic Thought 36, no. 4 (November 4, 2014): 435–54. http://dx.doi.org/10.1017/s1053837214000558.
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This paper explores the neglected theory of entrepreneurial profit proposed by Eugen von Böhm-Bawerk. Although historians of thought often dismiss Böhm-Bawerk’s writings on this topic, we argue that he did develop a coherent theory of entrepreneurial decision making and profit distinct from his theory of interest. We first discuss Böhm-Bawerk’s ideas about futurity, uncertainty, and expectations in his theory of goods, which help form the foundation of his theory of entrepreneurship. Further, we connect his notion of uncertainty with his thoughts on money. We then turn to several of Böhm-Bawerk’s ideas about entrepreneurial profit. Entrepreneurs purchase and allocate factors of production; these decisions are speculative because production takes time, and therefore entrepreneurs bear the uncertainty of the market. Their judgment thus yields profits or losses based upon the ability to anticipate the future state of consumer demand. Finally, we discuss the views of several of Böhm-Bawerk’s contemporaries, in order to place his theory in historical context.
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J, Jensolin Abitha Kumari, and Preeti R. GOTMARE. "Impact of Consumer Behavior Pertaining to Personalization of Price in an E-Commerce Context." Eurasian Journal of Business and Economics 14, no. 28 (November 30, 2021): 107–23. http://dx.doi.org/10.17015/ejbe.2021.028.06.
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The study focuses on developing a conceptual model to explore the factors influencing consumers' judgments in the decision-making process with a prime focus on personalized dynamic pricing (PDP). The study explored the judgmental impact of PDP on customer willingness to pay and mediating role of stickiness to the online store on PDP fairness and customer willingness to pay. The data was collected using a structured questionnaire administered among 256 students at a large university in India. SEM using AMOS software was used to analyze data. Price perception, involvement, product knowledge, and recommendation system positively impact price fairness of PDP, directly and indirectly influencing customer willingness to pay. Results also showed that stickiness to online stores fully mediates the relationship between price fairness of PDP and customer willingness to pay. Theoretically, the study contributes to pricing and marketing literature by identifying the antecedents of price fairness of PDP. For practitioners, this study signifies the importance of a robust recommendation system to stand out from the competition and provide deals to satisfy consumers. Specifically, the results emphasize the need to focus on stickiness to an online store to track consumer characteristics and customer value
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Chang, Hannah H., and Iris W. Hung. "Mirror, Mirror on the Retail Wall: Self-Focused Attention Promotes Reliance on Feelings in Consumer Decisions." Journal of Marketing Research 55, no. 4 (August 2018): 586–99. http://dx.doi.org/10.1509/jmr.15.0080.
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The authors propose that consumers’ increased self-focused attention promotes their relative reliance on affective feelings when they make decisions. The authors test this hypothesis in a variety of consumption domains and decision tasks, including real-life, consequential charitable donations. Consistent support from five experiments with more than 1,770 participants shows that (1) valuations of the decision outcome increase when consumers with high (low) self-focus adopt a feeling-based (reason-based) strategy. The hypothesized effect of self-focus on relative reliance on feelings in decision making is (2) moderated by self-construal. Furthermore, greater attention to the self (3) increases evaluations of products that are affectively superior but (4) decreases evaluations of products that are affectively inferior and (5) exerts little influence on evaluations of products that are less affective in nature (i.e., utilitarian products). Finally, self-focused attention (6) amplifies a decision bias typically attributed to feeling-based judgments, known as scope-insensitivity bias, in a hypothetical laboratory study and in a real-life, consequential charitable donation. Theoretical and marketing implications are discussed.
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Jackson, E. A., E. Tamuke, and M. Jabbie. "Disaggregated Short-Term Inflation Forecast (STIF) for Monetary Policy Decision in Sierra Leone." Financial Markets, Institutions and Risks 3, no. 4 (2019): 32–48. http://dx.doi.org/10.21272/fmir.3(4).32-48.2019.
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The study focuses on developing a model of short-term inflation forecasting (STIF) in the context of monetary policy conceptualization. The research toolkit is accompanied using the Box-Jenkins Time Series Approach (ARIMA) to analyze inflation and its risks in Sierra Leone. The proposed model is based on diagrams characterizing the constituents of the Consumer Price Index (CPI) as the primary means of communication to inform the general public about the uncertainty surrounding the dynamics of prices in Sierra Leone. The author points out that such an approach to monetary policy forecasting will allow the use of expert judgment to stabilize the economy in the formation of key areas of monetary policy functioning and development. The article focuses on the interpretation of risks for each of the components of the CPI, which will enhance confidence in the financial and economic decisions made by the financial management of the Bank of Sierra Leone [BSL]. Empirical findings have shown that CPI components such as food and non-alcoholic beverages, housing and health indicate that financial shocks occurring in or outside Sierra Leone can significantly affect the overall CPI. It is stated that such a trend causes a fleeting effect of rising prices on consumer spending in the short term. The study postulates the uniqueness of the component model in the context of turning the key focus of financial management of business structures and government organizations to target sectoral events. As a result of the study, the conclusion is drawn about the need to monitor price volatility by empirically evaluating the components of the CPI basket in the forward-looking perspective. The importance of forecast is been resounded all around the globe, given its relevance in addressing the dynamics of macroeconomic variables and their significant implications for economic stabilisation and decision-making. Keywords: financial management, inflation, forecasting, consumer price index, CPI components; Sierra Leone.
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Martinez, Luis F., and Dorothea S. Jaeger. "Ethical decision making in counterfeit purchase situations: the influence of moral awareness and moral emotions on moral judgment and purchase intentions." Journal of Consumer Marketing 33, no. 3 (May 9, 2016): 213–23. http://dx.doi.org/10.1108/jcm-04-2015-1394.
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Purpose Counterfeiting is an increasingly global phenomenon that threatens the economy as a whole and also presents a risk for the consumers. The purpose of this study is to explore moral emotions along with moral awareness and moral judgment with respect to their influence in the consumption of counterfeits. Design/methodology/approach An online questionnaire was distributed among participants (n = 225) who were asked to respond to a counterfeit purchase scenario. Findings Results highlight the importance of moral awareness as an essential element of moral decision-making. Also, moral emotions were found to influence moral judgment as well as purchase intention. Research limitations/implications A limitation refers to the fact that a scenario was used to evoke participants’ emotional responses. Although the situation was realistic and the majority of the people could very well imagine experiencing the reported scenario, results might change in an actual purchase situation. Practical Implications This study’s findings may be particularly relevant for authorities and educators who design campaigns to curtail counterfeit consumption, thus seeking to encourage consumers to recognize the several negative consequences that result from counterfeiting behavior. Originality/value This is one of the few studies that examine the impact of cognitive and emotional influences in a counterfeit purchase decision. Fighting this problem requires an in-depth understanding of consumers’ motivations and how they feel about engaging in this morally questionable behavior.
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Cesareo, Ludovica, and Alberto Pastore. "Consumers’ attitude and behavior towards online music piracy and subscription-based services." Journal of Consumer Marketing 31, no. 6/7 (November 4, 2014): 515–25. http://dx.doi.org/10.1108/jcm-07-2014-1070.
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Purpose – This paper analyzes consumers’ attitudes and behaviors towards online piracy and their willingness to try subscription-based music services. The objective is to develop and test an attitude-intention model which includes ethical considerations in consumers’ decision making process regarding music consumption. Design/methodology/approach – The study analyzes 505 consumer questionnaires using a structural equations model. Findings – Attitude toward online piracy is positively determined by economic and hedonic benefits and negatively by moral judgment. A favorable attitude toward online piracy, in turn, negatively influences consumers’ willingness to try subscription-based music services, which is also directly determined by their interest and involvement with the services themselves. Research limitations/implications – The limitations of the paper are linked mainly to the adapted scales, to the analysis of just two subscription-based music services (Napster and Spotify) and to the fact that all respondents came from one country. Practical implications – The results call for a greater commitment by music industry actors to educate consumers about the consequences and implications of online music piracy, while also stressing the value added and hedonic benefits offered by subscription-based music services. Originality/value – This paper is the first to focus on consumers’ propensity toward online piracy and their willingness to try subscription-based music services as a possible alternative to the phenomenon, through the development and test of an attitude-intention model that includes ethical considerations.
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Rahman, Alfikhi Abdul. "Perlindungan Hukum Bagi Konsumen Dengan Adanya Klausul Eksonerasi Dalam Perjanjian Baku Sewa Guna Usaha (Leasing)." Al Hurriyah : Jurnal Hukum Islam 5, no. 1 (July 14, 2020): 96. http://dx.doi.org/10.30983/alhurriyah.v5i1.3000.
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<p><em>The problems examined in this paper are: How is the material content of the exoneration clause in the lease standard agreement that causes losses for consumers of PT. Dipo Star Finance branch of Padang and how the judges consider in deciding the principal case of leasing based on Decision Number 4/Pdt.G/2017/PN.Pdg. In this study, the method used is normative juridical which is descriptive where the datas are sourced from primary and secondary data obtained based on the study of documents analyzed qualitatively. From this research, it can be concluded that at the time of making the finance lease agreement there is a will of disability regarding article 29 of the lease agreement and is an exoneration clause that is very detrimental to the consumer. Lesse does not know that collateral for other agreements is a guarantee of the object of the agreement that has paid off. Based on the judgment of the judge and the statement from the witness of the agreement law, article 29 of the lease agreement binds both parties based on the principle of pacta sunt servanda, but no statement or word is found which confirms that the guarantee for the agreement that has ended is a guarantee against other agreements, so that the guarantee becomes multi-interpretation. Article provisions relating to agreement one with other agreements in the agreement is very detrimental to consumers and contrary to article 10 letter (c) of Law Number 8 of 1999 concerning Consumer Protection.</em></p>
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Norris, J. Ian, Mario P. Casa de Calvo, and Robert D. Mather. "Managing an existential threat: how a global crisis contaminates organizational decision-making." Management Decision 58, no. 10 (October 12, 2020): 2117–38. http://dx.doi.org/10.1108/md-08-2020-1034.
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PurposeThe paper introduces a new model, the evolutionary-existential model of organizational decision-making. The purpose of the model is to provide an empirical framework for understanding the context for decision-making under conditions of existential threat to organizations, such as the global COVID-19 pandemic during the year 2020.Design/methodology/approachThe model is built on an extensive interdisciplinary literature review, drawing from research in social psychology, management, behavioral economics, evolutionary psychology and consumer behavior. In general, the authors follow Bargal's (2006) call for action research in the spirit of Lewin (1951).FindingsAccording to the model, organizational decision-making during the pandemic threat is influenced by (1) existential threat and (2) an unprecedented macroenvironmental context for decision-making. The authors argue that these psychological and macroenvironmental forces may lead to suboptimal decision-making, based on (1) their basic cognitive architecture and (2) specific evolutionary triggers activated by the pandemic. The authors highlight how the interaction between these inputs and the decision context manifest in various social psychological phenomena that are known to impact judgments and decisions.Practical implicationsSimply put, the magnitude and the urgency of the global pandemic call for new and integrative ways of understanding organizational decision-making.Originality/valueThe model is new. Although the authors draw on prior research and theory, the model is uniquely interdisciplinary; further, the authors are able to make specific and unique predictions about the inputs, decision context and their social–psychological consequences for decision-making.
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Abu-Shareha, Ahmad Adel. "TOPSIS-based Regression Algorithms Evaluation." Journal of Information and Communication Technology 21, no. 4 (October 19, 2022): 513–47. http://dx.doi.org/10.32890/jict2022.21.4.3.
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This paper developed a multi-criteria decision-making approach using the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to benchmark the regression alternatives. Regression is used in diverse fields to predict consumer behavior, analyze business profitability, assess risk, analyze automobile engine performance, predict biological system behavior, and analyze weather data. Each of these applications has its own set of concerns, resulting in various metrics utilizations or those of similar measures but with diverse preferences. Multi-criteria decision-making analyzes, compares, and ranks a set of alternatives utilizing mathematical and logical processes with a complicated and contradictory set of criteria. The developed approach established the weights, which were the core of the evaluation process, to various values to mimic and address the regression’s utilization in multiple applications with different concerns and using distinct datasets. The alternative judgment identified positive and negative ideal alternatives in the alternative space. The compared regression alternatives were scored and ranked based on their distance from these alternatives. The results showed that different preferences led to varying algorithm rankings, but top-ranked algorithms were distinguished using a specific dataset. Following that, using three datasets, namely Combined Cycle Power Plant, Real Estate, and Concrete, Voting using multiple classifiers (k-means-based classifiers) was the top-ranked in the Combined Cycle Power Plant and Real Estate datasets. In contrast, Decision Stump was the top-ranked in the Concrete dataset.
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Madan, Shilpa, Kevin Nanakdewa, Krishna Savani, and Hazel Rose Markus. "The Paradoxical Consequences of Choice: Often Good for the Individual, Perhaps Less So for Society?" Current Directions in Psychological Science 29, no. 1 (December 12, 2019): 80–85. http://dx.doi.org/10.1177/0963721419885988.
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The proliferation of products and services, together with the rise of social media, affords people the opportunity to make more choices than ever before. However, the requirement to think in terms of choice, or to use a choice mind-set, may have powerful but unexamined consequences for judgment and decision making, both for the chooser and for others. A choice mind-set leads people to engage in cognitive processes of discrimination and separation, to emphasize personal freedom and independent agency, and to focus on themselves rather than others. Reviewing research from social psychology, legal studies, health and nutrition, and consumer behavior, we found evidence that although a choice mind-set may have positive consequences for the individual, the accumulated outcome of thinking in terms of individual choice may have detrimental outcomes for society. Given the prevalence of choice in all domains of life, more research examining the full range of the consequences of choice is urgently needed.
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Daru, April Firman, Khoirudin Khoirudin, and Muhammad Faizal Agung Widodo. "AHP COMPARATIVE JUDGEMENT ON MOBILE COMMERCE COMPUTER SHOP APPLICATION IN SEMARANG CITY USING GOOGLE MAPS API BASED ANDROID." Jurnal Pengembangan Rekayasa dan Teknologi 13, no. 2 (October 16, 2018): 82. http://dx.doi.org/10.26623/jprt.v13i2.937.
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<p>In terms of activities in computer stores, many potential customers who come, then go home without making a transaction. This happens because consumers who come to the store want to know the price information, brand stock, and promotion first and then compare it with other stores. The decision recommendations generated by AHP are approaching expectations as they are examined from different perspectives and this method is very applicable to anyone decision makers because input is not only based on logic in general, but also intuition. The prototyping model implements rapid development and testing of the working model of new applications through repeated interaction processes. The object priority used based on AHP Comparative Judgment inference system calculation is (1) stock; (2) price; (3) distance (location). the process of comparison between criteria has been performed in a consistent manner consistent with the random consistency index of the normative analytical hierarchy process comparative judgment matrix. So that the output list that is displayed to the user can be used as the best reference product selection. Implementation of computer information system store application in Semarang City with AHP (Analyitical Hierarchy Processs) Comparative Judgment method can be accessed by Android users to recommend products to be purchased based on the criteria of availability of goods, price and distance practically anytime and anywhere.</p>
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Sitama, Mega Fitria, and Eko Fajar Cahyono. "FAKTOR-FAKTOR PENILAIAN KEPUTUSAN KONSUMEN DALAM PEMBELIAN KOSMETIK HALAL (STUDI KASUS MAHASISWI MUSLIMAH FAKULTAS EKONOMI DAN BINIS UNIVERSITAS AIRLANGGA)." Jurnal Ekonomi Syariah Teori dan Terapan 6, no. 3 (January 15, 2020): 599. http://dx.doi.org/10.20473/vol6iss20193pp599-624.
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This study aims to determine the assessment of prices, income, benefits, priority scale, perceptions of wasteful feelings and consumer decisions in purchasing halal cosmetics case studies of Unair Surabaya FEB female students. This study uses a quantitative approach with analysis of hypothesis testing. Retrieval of primary data in this study was conducted using a questionnaire. The sample in this study amounted to 357 students from the Faculty of Economics and Business, Airlangga University, Surabaya. Based on the results of the study, the valuation of prices consisting of prices (benefits), prices (affordable), prices (competing) partially has a significant effect. Revenue partially has a significant effect. Halal judgments which consist of halal necessity, halal logo (competitor), halal logo (Islamic rules), halal logo (important aspects) partially have a significant effect. Assessment of benefits that consist of benefits (face), benefits (appearance), benefits (not allergies), benefits (long-term), partially significant effect. Evaluation of priority scale consists of priority scale (food), priority scale (health), priority scale (education), priority scale (residence) partially significant effect. Perception assessment consisting of perceptions (unique and funny packaging), perceptions (replace new ones), perceptions (moderate trends), partially have a significant effect. Consumer decision making partially has a significant effect.Keywords: Price valuation, Income, Benefits, Priority Scale, Perception of Wasteful Feelings, Consumer Decisions, Halal Cosmetics.
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Kim, Jae-Eun, and Kim K.P. Johnson. "Shame or pride?" European Journal of Marketing 48, no. 7/8 (July 8, 2014): 1431–50. http://dx.doi.org/10.1108/ejm-02-2013-0110.
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Purpose – The purpose of this paper is to examine the moderating role of individuals’ self-view (interdependent, independent) in the relationship between moral emotions and moral judgments made concerning the purchase of fashion counterfeits. Design/methodology/approach – Based on reviewing the literature on moral decision making, moral emotion and self-construal, we test the hypotheses by two experimental studies. Findings – The results of two studies demonstrated that independents were more likely to judge counterfeits as morally wrong when pride rather than shame was associated with counterfeits or was evoked through an anti-counterfeit campaign. Interdependents were more likely to judge counterfeits as morally wrong when shame rather than pride was evoked through an anti-counterfeit campaign. Research limitations/implications – Results can inform marketing communication campaigns designed to prevent the proliferation of counterfeits in the fashion industry. Originality/value – The contribution of this research is the expansion of prior work on consumers’ purchase of counterfeit goods by the discovery of the causal direction of individuals’ differences in self-view and its impact on moral judgment.
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Minson, Julia A., Frances S. Chen, and Catherine H. Tinsley. "Why Won’t You Listen to Me? Measuring Receptiveness to Opposing Views." Management Science 66, no. 7 (July 2020): 3069–94. http://dx.doi.org/10.1287/mnsc.2019.3362.
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We develop an 18-item self-report measure of receptiveness to opposing views. Studies 1a and 1b present the four-factor scale and report measures of internal, convergent, and discriminant validity. In study 2, more receptive individuals chose to consume proportionally more information from U.S. senators representing the opposing party than from their own party. In study 3, more receptive individuals reported less mind wandering when viewing a speech with which they disagreed, relative to one with which they agreed. In study 4, more receptive individuals evaluated supporting and opposing policy arguments more impartially. In study 5, we find that voters who opposed Donald Trump but reported being more receptive at the time of the election were more likely to watch the inauguration, evaluate the content of the inauguration speech in a more even-handed manner, and select a more balanced portfolio of news outlets for later consumption than their less receptive counterparts. We discuss the scale as a tool to investigate the role of receptiveness for conflict, decision making, and collaboration. This paper was accepted by Elke Weber, judgment and decision making.
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BAO, Helen X. H., and Cynthia M. GONG. "ENDOWMENT EFFECT AND HOUSING DECISIONS." International Journal of Strategic Property Management 20, no. 4 (December 14, 2016): 341–53. http://dx.doi.org/10.3846/1648715x.2016.1192069.
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Endowment effect refers to the reported gaps between willingness to accept and willingness to pay. According to prospect theory, this effect is a result of the underweighting of opportunity costs. Given the high stake involved in a typical housing transaction, endowment effect is expected to have a significant influence on housing decisions. We develop a theoretical framework to study the presence of endowment effect and its role in housing decision-making process. Three hypotheses are derived and tested through a field experiment conducted in Beijing, China. Our empirical results show that endowment effect plays an important role in the formation of judgmental biases in housing decisions. Moreover, endowment effect interacts with housing cycles. Our study highlights the application of prospect theory in the housing market; thus, it not only extends existing theoretical and empirical works in this important sector, but also clarifies consumer behavior in the emerging property market of China.
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Li, Shang-Pin, Ying-Hsiang Lin, and Chih-Cheng Huang. "Application of the Innovative Model NIPA to Evaluate Service Satisfaction." Sustainability 14, no. 16 (August 13, 2022): 10036. http://dx.doi.org/10.3390/su141610036.
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Customer satisfaction is one of the antecedent variables of customer loyalty, and customer satisfaction can positively affect customer loyalty. However, past research on consumer behavior has focused mainly on the direct consumption behavior of customers in service satisfaction, not in indirect behavior. This study takes the wedding garden as an example to explore the indirect behavior of customers, based on PZB’s service quality, and using the customer value hierarchy theory, adopts a questionnaire survey, and from the perspectives of users, investigates the current service quality, in order to analyze the quality of the service according to an evaluation formula. This study distributes a total of 380 questionnaires and collects 367 valid samples, for a valid return rate of 96.7%. In order to solve the problems caused by the original important performance analysis (IPA), the research constructs new important performance analysis (NIPA) to replace the original. This structural model presents a structured measurement process with risk management performance and judgment rules, which yielded different outcomes, as well as distinguished managerial implications. Furthermore, this new analysis model can provide managers with different perspectives in helping administrators in decision making.
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Minson, Julia A., and Christopher Umphres. "Confidence in Context: Perceived Accuracy of Quantitative Estimates Decreases With Repeated Trials." Psychological Science 31, no. 8 (July 6, 2020): 927–43. http://dx.doi.org/10.1177/0956797620921517.
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Across seven studies (combined N = 5,484), we demonstrated that confidence in one’s judgments decreases over a series of quantitative estimates. This finding was robust to various methods of confidence elicitation, the presence of incentives, and different estimation topics (Studies 1, 2, and 4). Our results also stand in contrast to participant expectations (Study 3). The phenomenon does not appear to be driven by fatigue, lack of effort, or various explanations based on incorporating uncertainty from prior judgments into subsequent ones. Our findings suggest that rather than evaluating confidence in isolation, participants evaluate confidence in reference to their stated confidence on earlier judgments. We theorize that confidence in earlier judgments increases in hindsight because of biased forgetting of disconfirming evidence. As a result, confidence in subsequent judgments appears to be comparatively lower (preregistered Studies 5–7). We discuss the implications for confidence research and consumer, organizational, and policy decision-making.
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Chou, Tsung-Yu. "A Hybrid FMCDM Approach for the Evaluation and Selection of Homestays." International Journal of Environmental Research and Public Health 19, no. 14 (July 17, 2022): 8688. http://dx.doi.org/10.3390/ijerph19148688.
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Due to the beautiful rural scenery, rural tourism has gradually become a popular trend as affected by urbanization in Taiwan. The purpose of this study is to develop an objective and systematic evaluation model for homestay selection in Taiwan. Specifically, this study combines three fuzzy multiple-criteria decision-making (FMCDM) methods of means-end chain (MEC), fuzzy decision making and trial evaluation laboratory (FDEMATEL), and fuzzy analytic hierarchy process (FAHP). First, we use MEC to obtain important factors for homestay travelers to choose homestays, then we extract key influencing factors by FDEMATEL method, and finally, we rank these factors in importance by FAHP to provide travelers and managers with a reference. In addition, this study combines fuzzy theory to avoid the bias caused by human subjective judgment, so as to solve the problem of objectivity in the selection and evaluation model of homestay criteria. According to the results of our case studies, a clean environment, professional service staff, safe facilities and beautiful buildings are the key factors for consumers to choose homestays. The results of this study can provide a reference for homestay managers to understand the priorities of travelers and optimize customer service in Taiwan.
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Goudge, Darrell, Megan C. Good, Michael R. Hyman, and Grant Aguirre. "Modeling specialty store customers’ buy/no-buy decisions." International Journal of Retail & Distribution Management 45, no. 12 (December 11, 2017): 1260–76. http://dx.doi.org/10.1108/ijrdm-03-2017-0036.
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Purpose The purpose of this paper is to develop, test, and validate a model in a specialty retail environment to assess the influence of a salesperson’s sales- or customer-orientation and customer characteristics related to buy/no-buy decisions. Design/methodology/approach Backward stepwise discriminant analysis was used to identify variables that most differentiated buyers from non-buyers. The discriminant model was estimated with survey data provided by a judgment sample of consumers asked to recall details about a recent in-store purchase experience (n=240). One significant discriminant function emerged. The model correctly classified 87.5 percent of buy/no-buy decisions by consumers in a separate validation sample (n=40). Findings Customers who believe a salesperson is sales oriented (i.e. only interested in closing) are more likely to make a no-buy decision even when retailer-related attributes – such as positive prior experience with the retailer, susceptibility to normative interpersonal influence, and positive attitude toward retailing – suggest otherwise. Surprisingly, neither customer orientation nor susceptibility to interpersonal informational influence relates significantly to making a buy/no-buy decision. Practical implications Specialty retailers should avoid a sales-outcome-based orientation. To add value in a competitive marketplace where buyers can avoid salespeople, the focus of a sales interaction should be on identifying customer needs and characteristics. Originality/value Adaptations of sales people’s personas and selling efforts – fostered by new managerial training practices – and the need for specialty retailers to adopt behavior-based control systems are suggested. In addition, sales or customer orientation typically is reported by the salesperson. Here, customers’ belief – which is more germane to modeling buy/no-buy decisions – designates the salesperson’s orientation.
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Moon, Alice, and Leif D. Nelson. "The Uncertain Value of Uncertainty: When Consumers Are Unwilling to Pay for What They Like." Management Science 66, no. 10 (October 2020): 4686–702. http://dx.doi.org/10.1287/mnsc.2019.3426.
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Do people have an irrational dislike for risk? People pay less for uncertain prospects than their worst possible outcomes, and researchers have proposed that this effect occurs because people strongly dislike risk. We challenge this proposition across seven studies. Though people seem to irrationally dislike risky prospects when preference is assessed with open-ended pricing measures, such as willingness-to-pay, people display rational responses toward risky prospects when preference is assessed using rating measures, such as ratings of expected enjoyment. This discrepancy does not seem to arise because these measures (a) focus on different components of the uncertainty, (b) rely on context-dependent versus normed scales, or (c) involve voluntarily opting into an uncertain situation. Accordingly, we find that people also display rational responses toward risky prospects with time measures (i.e., willingness-to-wait and anticipated time usage) and choice. We discuss alternative explanations and crucial implications of our effects for both theory and application. This paper was accepted by Yuval Rottenstreich, judgment and decision making.
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Chu, Hosang, Jungyun Kang, Minhwan Lee, and Hakkyun Kim. "Is Scissoring a Metaphor for Disconnecting a Relationship?" Gadjah Mada International Journal of Business 16, no. 3 (December 11, 2014): 205. http://dx.doi.org/10.22146/gamaijb.5655.
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A great deal of attention has surrounded the role of embodied cognition in human judgments; however, it has received very little research attention, especially in the marketing field. This research is based on the idea that the act of cutting can activate perceptions of severing relationships, as well as eliciting a sense of independence. Study 1 showed that consumers are less likely to adopt a close friend’s opinion when they engage in the act of cutting an object with scissors. Study 2 demonstrated that people are less likely to trust the reviews of online communities while cutting a piece of string with scissors. These lowered intentions to adopt others’ opinions appeared to be mediated by increased psychological distances between the self and the information provider. In other words, people who engage in the act of scissoring unconsciously weaken or disconnect themselves from the information providers, thereby choosing not to adopt others’ opinions. This research identifies the link between the physical activity of cutting and the mental disconnection concerning social relationships. The results provide implications in setting up an integrative framework of the consumer decision-making process involving embodied cognition.
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Sutomo, Rudi, and Johny Hizkia Siringo Ringo. "Sistem Penunjang Keputusan Penilaian Kinerja Karyawan Berprestasi Menggunakan Acuan MBO dan Metode AHP Menggunakan Aplikasi Expert Choice." Jurnal ULTIMATICS 10, no. 1 (July 6, 2018): 26–33. http://dx.doi.org/10.31937/ti.v10i1.756.
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In the determination of employees who have the achievement required assessment of the assessment. There are several policy setting criteria to be able to prevent subjective decision-makers such as the influence of "likes and dislikes", so it is often wrong to judge employees. This paper is intended to provide a solution to the problem of choosing qualified and qualified employees using the AHP method and using decision support systems application Expert Choice to assist decision making in determining outstanding employees based on MBO method references. From the result of comparison of criteria weight that has been inputted and has been adjusted with comparison matrix Sub Criteria of Achievement then got that occupy the highest priority data that is consumer satisfaction with point 0,434, discipline with point 0,285, operational performance with point 0,071 and achievement with point 0,058 with inconsistency 0, 03 with 0 missing judgments. The results of AHP calculations will be applied to produce the highest intensity of employee priority outputs so that employees with the highest score are eligible for rewards or rewards.
Index Terms—AHP, Aplikasi Expert Choice, MBO, SPK
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Agustina, Raida, Mustaqimah, Rahmat Fadhil, and Devianti. "Sensory Evaluation of Pliek-U Quality Using Fuzzy-Topsis Method." Acta Technologica Agriculturae 23, no. 4 (December 1, 2020): 161–67. http://dx.doi.org/10.2478/ata-2020-0026.
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AbstractThe purpose of this study is to apply one of the decision-making methods, namely the fuzzy-TOPSIS method, to determine the best alternative of coconut fermentation in process of making Pliek-U, which is a typical powder made of coconut and is used for traditional cooking recipes by people in Aceh Province, Indonesia. The weight of fuzzy criteria and judgments about alternative methods of coconut fermentation was used to calculate the sensory evaluation scores and Pliek-U quality ratings. It can help to determine the quality of the Pliek-U. Sensory evaluation results for the quality of Pliek-U using the fuzzy-TOPSIS method showed that the most ideal alternative of the coconut fermentation method in the process of making Pliek-U is the 10-day coconut fermentation method, because it had the highest closeness coefficient (0.7484) in contrast to the 7-day coconut fermentation method (0.5425), and 4-day coconut fermentation method (0.3291). The fuzzy-TOPSIS method utilization was beneficial for generating the sensory multi-criteria assessment calculations through weighting, so that the process of determining consumer acceptance of the product assessed became easier and faster.
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Bernatt, Maciej. "Effectiveness of Judicial Review in the Polish Competition Law System and the Place for Judicial Deference." Yearbook of Antitrust and Regulatory Studies 9, no. 14 (2016): 97–124. http://dx.doi.org/10.7172/1689-9024.yars.2016.9.14.4.
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The article discusses the effectiveness and the intensity of judicial review in the Polish competition law system. First, it studies whether the judicial review offered by the 1st instance Court of Competition and Consumer Protection in Warsaw (SOKiK) is effective in practice. Next, the article analyzes whether Polish courts tend to defer to the findings of the Polish competition authority, UOKiK. Judgments of the Supreme Court concerning relevant market definition serve as case studies. Finally, the article discusses whether proceedings before the Polish competition authority ensure sufficient due process guarantees, the impartiality of decisionmakers, and the overall expert character of UOKiK’s decision-making process. On this basis the article examines whether there are grounds for the reviewing courts to defer to UOKiK’s findings. The article concludes that currently the review undertaken by SOKiK happens to be superficial and thus ineffective. At the same time, the Supreme Court’s review of the determination of the relevant market is not deferential towards UOKiK’s findings. The Supreme Court substitutes its own definition of the relevant market for that of UOKiK and that of the lower courts. However, the article shows that there are no grounds at the moment for arguing for greater judicial deference. Proceedings held before UOKiK, despite recently introduced improvements, still do not offer sufficient due process guarantees or a division between investigatory and decision-making functions. In addition, UOKiK’s expertise is not sufficient for both institutional and practical reasons
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Soni, Nitin, and Jagrook Dawra. "Judgments of acquisition value and transaction value." Journal of Indian Business Research 12, no. 3 (November 21, 2019): 389–410. http://dx.doi.org/10.1108/jibr-06-2018-0170.
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Purpose An open question of behavioral pricing literature is: What are the factors which influence consumers’ judgments of acquisition value and transaction value? An important framework to explain consumers’ shopping and purchase decisions is their decision-making styles. This paper aims to examine the influence of consumers’ decision-making styles, that is, perfectionistic high-quality conscious, brand conscious-price equals quality, novelty-fashion conscious, recreational-hedonistic, price conscious-value for money, impulsive-careless, habitual-brand loyal and confused by overchoice on their judgments of acquisition value and transaction value. Design/methodology/approach From the literature, a conceptual framework was formulated. Data was collected from a survey of 304 respondents. The measurement model was tested using exploratory factor analysis and confirmatory factor analysis. The structural model was tested using structural equation modeling. Findings The consumers’ judgments of acquisition value and transaction value vary with their decision-making styles. The measurement and structural models exhibited good fit, and 12 of the 16 proposed hypotheses were found to be significant. Research limitations/implications The respondents for this research study were urban and postgraduate students. Practical implications The results of this study can help managers personalize their promotional offers and market offerings targeted at consumers with different decision-making styles. Originality/value Behavioral pricing literature has not convincingly shown that consumers make the judgments of the two values, acquisition value and transaction value, in a purchase scenario. There is limited literature on the impact of decision-making styles on the marketing variables. The results of this study contribute to the literature by showing that consumers make the judgments of these two values, and these judgments vary with their decision-making styles. Also, this is one of only a few studies to examine the two components of the purchase value in an Indian context.
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Balestrini, Pierre, and Paul Gamble. "Country‐of‐origin effects on Chinese wine consumers." British Food Journal 108, no. 5 (May 1, 2006): 396–412. http://dx.doi.org/10.1108/00070700610661367.
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PurposeThe paper seeks to examine Chinese consumers' wine‐purchasing behaviour and, more especially, the importance of country of origin (COO) effects in the evaluation and assessment of wine quality and as it relates to decision making for wine purchases.Design/methodology/approachThe data for this study were collected in 2004 through an interviewer‐administered, structured questionnaire targeted at randomly selected wine buyers in the ChangNing district of Shanghai (China). Chinese consumers tend to purchase wine primarily for sensorial reasons, consuming it on social occasions. Wine has never acquired the connotations of being merely a thirst‐quenching drink as it did in some European countries. They are also attracted to wine for its health benefits.FindingsIt was found that Chinese consumers are more likely to use extrinsic cues than intrinsic cues to evaluate wine quality. Thus, COO information is a significantly more important cue than price for Chinese consumers as a quality cue. However, there appears to be no significant difference in the importance of COO and brand in this regard. Wine is a complex product – small differences in any one of a huge range of variables, from the weather, through the grape, the production method, the storage and even the bottling can affect quality. As might be expected in a market that is relatively under‐developed and which has a smaller experience of wine drinking than some other parts of the world, Chinese consumers pay much more attention to COO when they purchase wine for special occasions, where their choice is exposed to the judgment of others. By contrast, when purchasing wine for their own private consumption, COO assumes a lesser importance.Originality/valueThis research can significantly help wine marketers to develop more effective positioning strategies in China. It will also help in the development of pricing and promotional decisions.
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Chen, Ming-Yi. "Can two-sided messages increase the helpfulness of online reviews?" Online Information Review 40, no. 3 (June 13, 2016): 316–32. http://dx.doi.org/10.1108/oir-07-2015-0225.
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Purpose – Online reviews are increasingly available for a wide range of products and services. Several studies have demonstrated the benefits of the presence of customer reviews to an online retailer, but the issue of what makes online reviews helpful to a consumer in the process of making a purchase decision remains uninvestigated. The paper aims to discuss this issue. Design/methodology/approach – Given the strategic potential of online reviews, this study drew on past research to develop a conceptual understanding of the components of helpfulness and to further empirically test the model using actual online review data from iPeen.com in Taiwan. A content analysis of 989 reviews across four products identified the interplay effects of review sidedness, reviewer’s expertise, and product type on the helpfulness of an online review. Findings – For search goods, consumers consider two-sided reviews to be more helpful than one-sided reviews when the reviewers are experts in writing such articles, whereas they consider two-sided reviews to be equally helpful as one-sided reviews when the reviewers are novices. Conversely, for experience goods, consumers consider one-sided reviews to be more helpful than two-sided reviews when the reviewers are experts in writing review articles, but they consider one-sided reviews to be equally helpful as two-sided reviews when the reviewers are novices. Practical implications – With an understanding of how review sidedness affects online review helpfulness, online retailers could establish the policy for promoting the helpfulness of reviews more effectively. Originality/value – This research yields at least three important contributions: first, it contributes to the message sidedness literature by showing which arguments (one- or two-sided) are deemed to be helpful; second, it contributes to the online peer review literature by demonstrating the importance of considering product type and heuristic cues (i.e. the reviewer’s expertise) when explaining helpfulness; and third, the results in this research demonstrate that people are drawn to dual-processing; that is, the judgment of online review helpfulness is determined by heuristic cues (e.g. the status of the reviewer) and systematic processing (e.g. review content).