Models of Buyer Behavior, Chapter 14


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The Theory of Buyer Behavior


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Macroeconomics


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The new edition of this bestselling textbook covers Macroeconomics today, balancing short-run and long-run issues in a way that emphasises the relevance of Keynesian and classical ideas to current practice. Featuring the latest data and extensive coverage of the current financial crisis, it is the ideal textbook for uncertain economic times. Additional Supplementary products are also available: Macroeconomics Study Guide ISBN: 9781429233729 Macroeconomics Instructor's Resource Manual ISBN: 9781429239363 Macroeconomics Instructor's Solution Manual ISBN: 9781429239424 Macroeconomics Computerized Test Bank (CD ROM) ISBN: 9781429239349 Macroeconomics Printed Test Bank ISBN: 9781429239356 Macroeconomics WebCT ISBN: 9781429239370




Consumer Behaviour


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With special reference to India.




The 3M Model of Motivation and Personality


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Integrating control theory, evolutionary psychology, and a hierarchical approach to personality, this book presents a new approach to motivation, personality, and consumer behavior. Called the 3M, which stands for `Meta-theoretic Model of Motivation', this theory seeks to account for how personality traits interact with the situation to influence consumer attitudes and actions. The book proposes that multiple personality traits combine to form a motivational network that acts to influence behavior. Mowen argues that in order to understand the causes of enduring behavioral tendencies, one must identify the more abstract traits underlying surface behaviors. In constructing the 3M model, the author reports data from fifteen empirical studies employing over 3500 respondents. In this hierarchical model, four types of personality traits are identified: elemental, compound, situational, and surface traits. Eight elemental traits are proposed as forming the underlying dimensions of personality. Consistent with control theory, the research reveals that the elemental traits combine to form compound traits, such as self-efficacy, task orientation, playfulness, and competitiveness. These elemental and compound traits combine with situational influences to cause enduring behavioral tendencies within general situational contexts. Examples of situational traits investigated include impulsive buying, value consciousness, sports interest, and health motivation. In the 3M model the elemental, compound, and situational traits combine to yield surface traits, which are enduring dispositions to act in specific behavioral contexts. Five surface traits are empirically investigated in the book: compulsive buying, sports participation, healthy diet lifestyles, proneness to bargaining, and a tendency to frugality. Across these five studies, the empirical results reveal that the 3M model accounts for over 44% of the variance in the surface trait measures. By presenting a new meta-theory of motivation and personality that is testable, Mowen's 3M model accounts for high levels of variance in consumer behavior. By integrating the work of selected past and current theorists into a comprehensible whole, the 3M model provides coherence in a field currently dominated by conflicting ideas, theories, and approaches. The book provides evidence that by understanding the individual dispositions that underlie consumer behavior, public policy officials and marketing specialists can develop better communication programs to influence and persuade their target audiences. The book shows how to employ the 3M model to segment the marketplace, provide psychographic inventories, position brands, create promotional themes, and develop brand personalities.




Sharing Economy


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This edited book examines the challenges and opportunities arising from today’s sharing economy from an operations management perspective. Individual chapter authors present state-of-the-art research that examines the general impact of sharing economy on production and consumption; the intermediary role of a sharing platform; crowdsourcing management; and context-based operational problems. Sharing economy refers to a market model that enables and facilitates the sharing of access to goods and services. For example, Uber allows riders to share a car. Airbnb allows homeowners to share their extra rooms with renters. Groupon crowdsources demands, enabling customers to share the benefit of discounted goods and services, whereas Kickstarter crowdsources funds, enabling backers to fund a project jointly. Unlike the classic supply chain settings in which a firm makes inventory and supply decisions, in sharing economy, supply is crowdsourced and can be modulated by a platform. The matching-supply-with-demand process in a sharing economy requires novel perspectives and tools to address challenges and identify opportunities. The book is comprised of 20 chapters that are divided into four parts. The first part explores the general impact of sharing economy on the production, consumption, and society. The second part explores the intermediary role of a sharing platform that matches crowdsourced supply with demand. The third part investigates the crowdsourcing management on a sharing platform, and the fourth part is dedicated to context-based operational problems of popular sharing economy applications. “While sharing economy is becoming omnipresence, the operations management (OM) research community has begun to explore and examine different business models in the transportation, healthcare, financial, accommodation, and sourcing sectors. This book presents a collection of the state-of-the-art research work conducted by a group of world-leading OM researchers in this area. Not only does this book cover a wide range of business models arising from the sharing economy, but it also showcases different modeling frameworks and research methods that cannot be missed. Ultimately, this book is a tour de force – informative and insightful!” Christopher S. Tang Distinguished Professor and Edward Carter Chair in Business Administration UCLA Anderson School of Management




Modeling Data Irregularities and Structural Complexities in Data Envelopment Analysis


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In a relatively short period of time, data envelopment analysis (DEA) has grown into a powerful analytical tool for measuring and evaluating performance. DEA is computational at its core and this book is one of several Springer aim to publish on the subject. This work deals with the micro aspects of handling and modeling data issues in DEA problems. It is a handbook treatment dealing with specific data problems, including imprecise data and undesirable outputs.




Shopping for Safety


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Economics and Consumer Behavior


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For advanced courses in economic analysis, this book presents the economic theory of consumer behavior, focusing on the applications of the theory to welfare economies and econometric analysis.




Enhancing and Predicting Digital Consumer Behavior with AI


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Understanding consumer behavior in today's digital landscape is more challenging than ever. Businesses must navigate a sea of data to discern meaningful patterns and correlations that drive effective customer engagement and product development. However, the ever-changing nature of consumer behavior presents a daunting task, making it difficult for companies to gauge the wants and needs of their target audience accurately. Enhancing and Predicting Digital Consumer Behavior with AI offers a comprehensive solution to this pressing issue. A strong focus on concepts, theories, and analytical techniques for tracking consumer behavior changes provides the roadmap for businesses to navigate the complexities of the digital age. By covering topics such as digital consumers, emotional intelligence, and data analytics, this book serves as a timely and invaluable resource for academics and practitioners seeking to understand and adapt to the evolving landscape of consumer behavior.