Economic Environment Predicts Consumer Behaviors

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Economic Environment Predicts Consumer Behaviors

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781713479451
Total Pages : 408 pages
Book Rating : 4.4/5 (794 download)

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Book Synopsis Economic Environment Predicts Consumer Behaviors by : Johnny Ch LOK

Download or read book Economic Environment Predicts Consumer Behaviors written by Johnny Ch LOK and published by . This book was released on 2019-11-30 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: To go back to the example of the definitional relationship " income equals consumption plus saving", we can obviously calculate it means that income minus consumption, whereever saving appears in a system of relationships. Thus, reducing the number of variables and of equation. As ny explanation indicates that why micro economic data, e.g. indivdual income variable level, saving variable level is more accuate to be gathered to use for judgement when, why and how the kind of product general consumers behaviors or shopping desires change to compare macro economic data , e.g. the country's GDP in the country. Because we can not build up a theory of human behavior with the aid of definitional relationship alone, in addition we shall need relationship of age groups, such as a individual or a young age group, working age group, old age group different age consumers or occupation groups, e.g. professional occupation, such as teacher, doctor, lawyer , or low educational level occupation, such as factory worker etc. different age or occupation consumer groups of a consumption behaviouristic or consumer group character telling us something of the way in which the different individuals or consumer groups behavr or indicating the technical relationships which subsist between, say the input of factors of production and the output of product. Example of such relationships are: The familiar demand and supply to the brand product relationships; the relationship connecting saving to the individual income or general young age group income or old age group income or working people income in the society, and the rate of interest to the country's bank system; a relationship indicating the presence or absence of price control to gas issue concerns how to influence car buyers' purchase cars demands or driving desires. All of these any one of micro economic relationship is the influence of as aspect of the consumer behavioral changing or consumer desire changing system highly relevant to general macro economic behavioral change system to the country.Is these any advantage in operate with structural equations? The answer is " yes" for the following reasons. In the case of relationship expressing behavior these may be expected to ahve the highest possible degree of performance, since they reflect the behavior of only one type of entity in the system, such as sales and price information equations just mentioned, depend for their stability on the constant responses not of one but of two or more types of entity, in the example both buyers ( the kind of product consumers or buyers ) and sellers ( the kind of product sellers). Thus, if we can assume that the buyers' responses , through not the sellers' responses will remain constant over a period, we can express ( or forecast) the quantity transacted by using one equation if we adopt the demand equation. Whereas, we shall need to least two if we adopt that sales equation. Thus, in micro economic view, equation method , such as gathering the kind of sale and price their information, it may help the seller measure whether it ought set up how much sale price to the product to let many consumers feel the most reasonable in order to increase its sale number in the country's consumption market.

How Behavioral Economic Method Explains And Predicts

Author : Johnny Ch Lok
Publisher :
ISBN 13 : 9781081234430
Total Pages : 524 pages
Book Rating : 4.2/5 (344 download)

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Book Synopsis How Behavioral Economic Method Explains And Predicts by : Johnny Ch Lok

Download or read book How Behavioral Economic Method Explains And Predicts written by Johnny Ch Lok and published by . This book was released on 2019-07-18 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reducing time pressure consumptionmethodsHow can sellers persuade consumers to choose to buy their products or consume their services in time pressure environment easily? It is a valuble research topic to concern how to know how consumer individual decision making to spend his/her available resources ( time, money and efforts, or consumption relatd aspects) as well as how any why he/she chooses the preference brand to buy its any kind of products or consume its services, when he/she chooses to buy the brand of products or consume its services? Hence, marketers need to obtain an indepth knowledge of consumer buying behavior.In any buying process, time factor will have about 10 % to 40 % to influence consumer decision. When the consumer feels hurry to consume, e.g. planning to go to travel, when he/she needs to choose to buy which airline's air ticket and what day and time is the right air ticket prebooking purchase decision right time choice; or enrolling which school to be choosed course to study decison, e.g. how long time is needed to be choose which school is the most suitable to provide the most suitable courses studying choce change; purchase warm clothes to wear in winter, when is the suitable time to choose to buy the cheaper warm clothers to prepare to wear in winter, e.g. Jan to Mar., April to June, July to Aug. month; when is the most suitable time to buy another new house to live, when the property consumer( buyer) has lived present house for long time, e.g. three years or more. All of these issues will include time factor to influence the consumer feels when he/she ought choose to buy the kind of product or consume the kind of service. However, the other factors will also include to influence his/her decision, e.g. family, friend relationship factor, advertising factor, social status factor, cultural difference factor, personal psychological need level or satisfactory level factor, young or old age factor, income level factor, economic environment factor, material enjoyable need factor etc. factors.

Behavioral Economy Methods Predict Consumer Behaviors

Author : Johnny Ch LOK
Publisher : Independently Published
ISBN 13 : 9781980862987
Total Pages : 209 pages
Book Rating : 4.8/5 (629 download)

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Book Synopsis Behavioral Economy Methods Predict Consumer Behaviors by : Johnny Ch LOK

Download or read book Behavioral Economy Methods Predict Consumer Behaviors written by Johnny Ch LOK and published by Independently Published. This book was released on 2018-04-17 with total page 209 pages. Available in PDF, EPUB and Kindle. Book excerpt: I shall research three questions.(1)Whether has it relationship between behavioraleconomy and consumer psychology ?(2)Can apply behavioral economy concept topredict consumer behavior?(3)How can apply behavioral economy conceptto predict consumer behavior?In part one, I shall explain what behavioral economy mean and function is, and I shall indicate some examples of behavioral economy method.In part two, I shall indicate how to apply behavioral economy methods to attempt to predict Disney visitor's behavioral choice to visit , university student behavioral choice to study, underground train MTR's passenger's behavioral choice what transportation tool to catch, airline passenger's behavioral choice which airline to buy airticket to catch airplane and environment protection product buyer's behavioral choice to buy any kind of environmental product reasons.Because economic is the science of how resources are allocated by individuals, firms and markets. So, the psychology of individual behavior should be influenced by environment economic factors. Behavioral economy is seem a mathematical tool to predict consumer behaviors, e.g. product price, purchase of insurance, corporate structure and personal decisions, like investment in education or investment in saving.These external economic environment factors, firm's internal strengths or weaknesses factors and consumer's individual psychological factors will influence how many the consumers choose to buy the firm's products or consume the firm's service provision in every year.I write this topic main aim to explain how to apply behavioral economy methods to predict consumer behavior or employee behavior. In my this book, I shall indicate UK and US some public or private entrepreneurs' model, how to apply behavioral economy methods to predict whose marketing behaviors in macro economy view point as well as organizational behavior in micro economy view point both. Different industries have different unique marketing consumption models. How to apply behavioral economy methods to predict behavior in order to know what is the main psychologyical factors to influence these sample UK, US sample entrepreneur's consumers choices to decide to consume themselves services or buy their products more attractively. I shall apply marketing behaviors in macro economy view point as well as organizational behavior in micro economy view point both to indicate these factors, such as product price, purchase of insurance, corporate structure and personal decisions, like investment in education or investment in saving. To explain why these factors will influence consumer numbers to any firms.

How Ai Predicts Consumer Behavior in Economic Environment

Author : Johnny Ch LOK
Publisher :
ISBN 13 :
Total Pages : 75 pages
Book Rating : 4.6/5 (849 download)

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Book Synopsis How Ai Predicts Consumer Behavior in Economic Environment by : Johnny Ch LOK

Download or read book How Ai Predicts Consumer Behavior in Economic Environment written by Johnny Ch LOK and published by . This book was released on 2020-09-10 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: It seems that in future, (AI) machine learning will allow search to evolve even further. Search engineers will deliver refined recommendations to their business users and use less human input to predict consumers' needs. For IBM computer example, it indicated 90% of the data that exists today has been created in the last two years. This huge explosion of data gives brands the opportunity to quickly spot and react to the latest trends, fashion and fads among its clients and potential clients. This will allow companies to better engage with younger consumers, who gain influence access to the latest trends, and use the brands. They associate with to help define who they are as individuals. Thus, brands have to identify and make use of them before consumers move on, but the vast quantity of data available makes. This a resource-intensive task. For next example, Lesara, a based online clothes store, uses this machine learning to inform its product decision often gathering information from internal and external sources. When its trends -spotting shoes. Lesara has a range of over 20 styles and sells hundreds of pairs a day. It focus on giving consumers, the very latest trends allow Lesara to develop on average of 50,000 new items each year. It compared to 11,000 old items each year. Thus, (AI) brain seems to human brain to own analytical ability to predict consumer behaviors. For another example, Lesara is one online clothes store, uses machine learning decisions after gathering information from internal and external sources. One of its most popular products, shoes with LED started life when its trend spotting software flagged up a blogger wearing similar shoes. Now Lesara has a range of over 20 styles and sells hundreds of pairs a day. Its focus on giving consumers the very latest trends allows Lesara to develop an average of 50,000 new items each year, compared to 11,000 for its competitor Lara. it seems (AI) machine learning can help Lesara business to predict what kinds of shoes design or style that shoe consumers will prefer choose to buy in future shoe market trend. Thus, Lesara can predict shoe consumers' taste successfully and it can manufacture many attractive style of shoes. (AI) machine learning can gather global past shoe consumer's shoe shopping experiences, then analyzes to make conclusion to give lesara recommendation successfully. This will make the experience more enjoyable for shoe consumers and allow Lesara to advert whose different new style or design of shoes to deliver them move relevant messages by understanding the context of the experience.However, (AI) machine learning will have this risk who manufacturers need to concern if they applied this technology to predict consumer behavior. It is on sample consumers' privacy issue, in order to avoid complaint chance occurrence. However, machine learning can tie this data together to identify which f the billions of devices are being used by individual consumers. This helps brands understand how consumer engagement and actions can be attributed to different messages in different contexts and at different time. So, machine learning can help brands to build confidence to promote their products by any advertisement channels. When, this new (AI) machine learning technology can conclude how to design their products to be the most attractive, due to it has more accurate to predict consumer behaviors to compare human themselves prediction judgement effort. It seems that (AI) machine judgement effort is more accurate to compare to human judgment effort.

Behavioral Economic Method Predicts Consumer Behavior And Relationship

Author : Johnny Ch Lok
Publisher : Independently Published
ISBN 13 : 9781707118892
Total Pages : 60 pages
Book Rating : 4.1/5 (188 download)

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Book Synopsis Behavioral Economic Method Predicts Consumer Behavior And Relationship by : Johnny Ch Lok

Download or read book Behavioral Economic Method Predicts Consumer Behavior And Relationship written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-11-10 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: ditional economy can be predominted by psychology, but it can also include elements of philosophy, sociology nd even mathematics or econometrics. When any product manufacturers or sellers or service providers expect to predict consumer market how will change to influence consumer individual consumption effort. Analysis is necessary, it is made possible a better understanding of the human brain and of the fundmentals on which it builds decision-making. However, they also need to make any hypotheses of consumption environment to attempt to find what factors will influence future individual customer behavioral changes to make decision making whether how any why he/she chooses to buy the product or consume the service. So, the research methodology was concentrate on quality method more than quantity method when any product manufacturer or service provider expects to predict future consumer behavioral how and why changes more easily. The research processing includes data collected from the global business similar product seller market. The data can concern: How and why the environmental factors had influenced many consumers make emotional reponses of individuals in economical decision making to choose the purchase any similar brand product consumers' shopping experiences will help the present product manufacturers to predict whether how and why what factors will influence the similar product consumers to choose to buy its products in future consumption environment more easily.

Can Apply Artificial Intelligence Predicts Consumer Behavior In Business Environment

Author : Johnny C. H. Lok
Publisher : Independently Published
ISBN 13 : 9781723774508
Total Pages : 572 pages
Book Rating : 4.7/5 (745 download)

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Book Synopsis Can Apply Artificial Intelligence Predicts Consumer Behavior In Business Environment by : Johnny C. H. Lok

Download or read book Can Apply Artificial Intelligence Predicts Consumer Behavior In Business Environment written by Johnny C. H. Lok and published by Independently Published. This book was released on 2018-09-17 with total page 572 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prepare This book has these two research questions need to be answered? (1) Can apply (AI) learning machine predict consumer behaviors? (2) Can (AI) learning machine replace human marketing research method, e.g. survey or human psychological and micro and macro economic methods to predict consumer behaviors more accurate? Nowadays, many businessmen or marketing research professional hope to apply different methods to predict consumer behaviors in order to know what will be future market activities and market changes to help them to choose to implement what kinds of marketing strategies more accurately. The methods include economic environmental change prediction method, consumer individual psychological change prediction method, micro or macro behavioral economic environmental change prediction method, marketing environmental change prediction method etc. different kinds of methods which can be applied to predict how consumer behavioral changes to influence whose behavioral consumption to the manufacturer products sale within one to two years short term or three to five years middle term, even above five years long term business plans. Hence, if the product manufacturers can apply the most suitable consumer behavioral prediction method to predict how consumers' choice will be changed to influence their products sale easily. It will have more beneficial intangible and tangible advantages to achieve the their product easier sale aim to ensure their businesses' future market share to be increased more easier to their countries' choice target sale markets. Otherwise, if they applied the inaccurate consumer behavioral prediction methods to predict how their consumers' behavioral changes wrongly. Then, it will influence their market shares to be same level, even it will decrease their market shares, when their consumer behavioral prediction inaccurately. In my this book first part, I concentrate on indicate whether any artificial intelligence (AI) tools will be one kind of good consumer behavioral prediction method to be choose to apply to predict consumer behaviors. I shall indicate some examples, cases to give reasonable evidences to analyze whether (AI) tools will be one kind suitable tool to be applied to predict when and how consumer behavioral changes. If (AI) can be one kind tool to attempt to be applied to predict when and how consumer behavioral changes. Will it replace other kinds of methods to predict consumer behaviors? Does it have weaknesses to be applied to predict consumer behaviors, instead of strengths? Can it be applied to predict consumer behaviors depending on any situations of only some situation? Finally, I believe that any readers can find answers to answer above these questions in this book. In my this book second part, I shall explain why and how human can possible apply (AI) tool to predict consumer individual emotion. I shall indicate case studies to explain how consumer individual better or worse emotion how to influence whose consumption behavior in different situation. Finally, I shall indicate evidences to conclude how and why (AI) tool that can be used to predict consumer individual emotion and it will have direct relationship to influence consumption behavior, as well as how (AI) tool can assist businessmen to judge whether what reasons case the customer does not choose to buy its product, it is possible because the product high price factor, poor product quality or poor staff service performance or attitude etc. different factors to influence the consumer decides to choose to buy the other product consequently, when the (AI) tool can confirm consumer has good or bad emotion to judge what factors are the causes his decision making at the moment.

Can Predict When, How, Why Consumer Behavioral Changing?

Author : Johnny Ch LOK
Publisher : Independently Published
ISBN 13 : 9781983397608
Total Pages : 109 pages
Book Rating : 4.3/5 (976 download)

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Book Synopsis Can Predict When, How, Why Consumer Behavioral Changing? by : Johnny Ch LOK

Download or read book Can Predict When, How, Why Consumer Behavioral Changing? written by Johnny Ch LOK and published by Independently Published. This book was released on 2018-07-08 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book has two parts. The first part indicates whether micro and macro economic methods can be attempted to apply to predict when, how and why consumer behavioral changing for every kind of different business. The second part indicates whether artificial intelligence can be attempted to apply to predict when, how and why consumer behavioral chaning for every kind of different business.Nowadays, many businessmen or marketing research professional hope to apply different methods to predict consumer behaviors in order to know what will be future market activities and market changes to help them to choose to implement what kinds of marketing strategies more accurately. The methods include economic environmental change prediction method, consumer individual psychological change prediction method, micro or macro behavioral economic environmental change prediction method, marketing environmental change prediction method etc. different kinds of methods which can be applied to predict how consumer behavioral changes to influence whose behavioral consumption to the manufacturer products sale within one to two years short term or three to five years middle term, even above five years long term business plans.Hence, if the product manufacturers can apply the most suitable consumer behavioral prediction method to predict how consumers' choice will be changed to influence their products sale easily. It will have more beneficial intangible and tangible advantages to achieve the their product easier sale aim to ensure their businesses' future market share to be increased more easier to their countries' choice target sale markets. Otherwise, if they applied the inaccurate consumer behavioral prediction methods to predict how their consumers' behavioral changes wrongly. Then, it will influence their market shares to be same level, even it will decrease their market shares, when their consumer behavioral prediction inaccurately.Whether can businessmen apply micro and macro-economic methods to assist them to analyze how marketing will change, what marketing trend will develop next month or next half year, even more than one year marketing development trend in possible?In my this book first part, I shall considerate on businessmen and customers both beneficial view point to explain how to apply behavioral economic concept to predict how their specific industries marketing development trend or consumer behavioral changing trend in these micro economic (individual consumer psychological shopping change trend) and macro-economic (global every specific industry marketing changing trend) environment.This book main research this two questions: (1)Has it relationship between macro and micro economic environment change factors to influence marketing development change trend?(2)Can businessmen apply macro and micro economic methods to predict future marketing development change trend in their specific industries?I shall indicate some specific cases industry to attempt to explain whether it has really relationship between macro and micro economic environment change factors to influence marketing development change trend as well as whether businessmen can apply micro and macro-economic methods to predict future marketing development change trend in these specific industries. In my this book second part, I concentrate on indicate whether any artificial intelligence (AI) tools will be one kind of good consumer behavioral prediction method to be choose to apply to predict consumer behaviors. I shall indicate some examples, cases to give reasonable evidences to analyze whether (AI) tools will be one kind suitable tool to be applied to predict when and how consumer behavioral changes.

Predict Consumer Behavior Psychology Methods

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781976870507
Total Pages : 284 pages
Book Rating : 4.8/5 (75 download)

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Book Synopsis Predict Consumer Behavior Psychology Methods by : Johnny Ch LOK

Download or read book Predict Consumer Behavior Psychology Methods written by Johnny Ch LOK and published by . This book was released on 2018-01-11 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one part, it aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model. Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be biult, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in randomways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irratonal in similar and predictable ways, therefore, irratonality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows that who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competition will encourage consumers to make the best option.

Behavioral Economy Or Artificial Intelligent Method Predicts

Author : John Lok
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.8/5 (873 download)

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Book Synopsis Behavioral Economy Or Artificial Intelligent Method Predicts by : John Lok

Download or read book Behavioral Economy Or Artificial Intelligent Method Predicts written by John Lok and published by . This book was released on 2022-06-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In my this book first part, I shall considerate on businessmen and customers both beneficial view point to explain how to apply behavioral economic concept to predict how their specific industries marketing development trend or consumer behavioral changing trend in these micro economic (individual consumer psychological shopping change trend) and macro-economic (global every specific industry marketing changing trend) environment.I shall indicate some specific cases industry to attempt to explain whether it has really relationship between macro and micro economic environment change factors to influence marketing development change trend as well as whether businessmen can apply micro and macro-economic methods to predict future marketing development change trend in these specific industries. In my this book second part, I concentrate on indicate whether any artificial intelligence (AI) tools will be one kind of good consumer behavioral prediction method to be choose to apply to predict consumer behaviors. I shall indicate some examples, cases to give reasonable evidences to analyze whether (AI) tools will be one kind suitable tool to be applied to predict when and how consumer behavioral changes

Learning Predicting Consumer Behavioral Methods

Author : John Lok
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.8/5 (877 download)

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Book Synopsis Learning Predicting Consumer Behavioral Methods by : John Lok

Download or read book Learning Predicting Consumer Behavioral Methods written by John Lok and published by . This book was released on 2022-07-21 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned how to apply behavioral economy method to predict consumer behavior. This book divides two parts, first part introduce what is behavioral economy asn second part explains how environment influences consumer behavior. In Behavioral economics part, it can provide more realistic psychological foundations. This book is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision.In part one, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. In part two, environment and consumer behavior relationship, I shall explain what psychological method means and how to apply psychological method to predict consumer behavior.

Apply Behavioral Economy Concept to Predict Consumer Behavior

Author : Johnny C. H. Lok
Publisher :
ISBN 13 : 9781973827023
Total Pages : 286 pages
Book Rating : 4.8/5 (27 download)

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Book Synopsis Apply Behavioral Economy Concept to Predict Consumer Behavior by : Johnny C. H. Lok

Download or read book Apply Behavioral Economy Concept to Predict Consumer Behavior written by Johnny C. H. Lok and published by . This book was released on 2017-07-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: It divides part one and part two and part three and part four. In part one, it shall indicate how the process of behaviour economic field develops, then I shall show what methods are used to measure behavioural economy. Next, I shall indicate what the main two categories of behavioural economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explai how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close relationship to influence consumption of decision. In part two, I shall indicate underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labour psychology or client psychologic consumption behavior. Then, which can have more confidence to attract more clients or reduce labour turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioural economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life. In part three, I shall explain how to apply behavioral economy method to attempt to predict how any consumer individual consumption of decision. How to predict why the consumer chooses to do whose consumption behavior in psychological view point. I shall introduce the different kinds of behavioral consumption of prediction methods include: the standard economic model of behavioral consumption of prediction method, online psychological advertising of prediction method, brand image attention of behavioral consumption of prediction method, store atmosphere environment influence prediction method, knowledge of the factors prediction method, constructive consumer choice processes influence prediction method, survey research prediction method ,consumer neuroscientific research prediction method etc. different psychological research of consumption methods. I shall indicate that how to predict customer behavior in marketing view point, analyzing and predicting consumer behavior can include demographics, personality, personal values and lifestyles. First, demographics is the size, structure and distribution of a population. How marketers use demographic analysis as market segment, descriptors and in trend analysis to predict customer behavior as well as how consumer analysts use demographic trends to predict changes in demand for and consumption of specific products and services. To explain how demographic analysis provides information for social policy and demographics used in analyzing policy questions related to the aggregate performance of marketing in society ( macro marketing) to predict how industrial demand is ultimately derived from consumer demand. In part four, I shall give insurance and travel both industries to explain how to apply behavioral economy theories to solve consumer behavior prediction as well as I shall indicate some methods to explain how manufacturers or service providers can attempt to solve some challenges encountering when who attempt to predict consumer behaviors. Finally, I shall indicate what the methods are the most effective to attempt to predict consumer behaviors.

The Difference Between Artificial Intelligence and Psychological: Method Predicts Consumer Behavior

Author : Johnny Ch Lok
Publisher : Independently Published
ISBN 13 : 9781720160762
Total Pages : 174 pages
Book Rating : 4.1/5 (67 download)

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Book Synopsis The Difference Between Artificial Intelligence and Psychological: Method Predicts Consumer Behavior by : Johnny Ch Lok

Download or read book The Difference Between Artificial Intelligence and Psychological: Method Predicts Consumer Behavior written by Johnny Ch Lok and published by Independently Published. This book was released on 2018-09-08 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chapter One Can apply economic models solve marketing changing challenges? Economists indicate economic modeling can provide a logical, data to help organize the analyst's thoughts. The model helps the economist logically isolate and sort out complicated chains of cause and effect and influence between the numerous interacting elements in an economy. There are four types of models used in economic analysis: Visual models, mathematical models, empirical models and simulation models. Visual models are simply pictures of an abstract economy: graphs will lines and curves that tell an economic story. It is one kind of micro or macro-economic method to predict consumer behavioral change. Some visual models are diagrammatic such as which flow the income thought the economy from one sector to another ( micro economic environment). It is mathematical model, when it is presented the mathematics are explained what the data analysis is or not. The model does not normally require a knowledge of mathematics, but still allow the presentation of complex relationship between economic variable. For example, the common supply-and demand model is meant to show the effect of inflationary expectations upon price and output. In this application, an increase in inflationary expectations causes demand to shift, raising prices and outputs (macro-economic environment). For another example, a very simple micro-economic model would include a supply function (explaining the behavior of products or those who supply commodities to the market), a demand curve ( explaining the behavior of purchasers) and an equilibrium equation, specifying the simple conditions that must be met if the model's equilibrium is to be satisfied. So, the variables in a model like this represent a type of economic activity (such as demand) or data ( information ) that either determines or is determined by that activity ( such as a price or interest rate variable change activity). Dynamic models, in contrast, directly incorporate time into their structure. This is usually done in economic modeling by this mathematical systems of difference of differential equations. For example, it can use a difference equation from a business cycle model, investment now depends upon changes in income in the past. Time is incorporated into the model. Dynamic models, when they can be used, sometimes better represent the business cycles, because certainly behavioral response and timing strongly shape the character of a cycle. For another example, if there is a delay between the time income is received and when it is spent. A model that can capture the delay is likely to those higher consumption desire to the consumer. It is a micro-personal behavioral consumption predict method. So, the user can experiment with an endless variety of values and assumptions to see whether results obtained are realistic or insightful. Since computers are now powerful and cheaper, the importance of dynamic simulation models should follow the future prediction time, when the consumer income receive and when it is spent to predict how much degree of the consumer's consumption desire in micro-economic view point. Another model to be applied to predict consumption behavior. It is expectations and enhanced model, it includes one or more variables based upon economic expectations about future values. For example, if consumers for whatever reason, expect the inflation rate to be much higher next year, then this year, they are said to have formed inflationary expectations. If numerical values are being used in a model and the current inflation rate is 9%, if they expect inflation to be higher next year, the variable for inflationary expectations might be given be a value if 12% or more.

Behavioral Economy and Consumption Behavioral Prediction

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781521707036
Total Pages : 288 pages
Book Rating : 4.7/5 (7 download)

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Book Synopsis Behavioral Economy and Consumption Behavioral Prediction by : Johnny Ch LOK

Download or read book Behavioral Economy and Consumption Behavioral Prediction written by Johnny Ch LOK and published by . This book was released on 2017-06-28 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: I write this book aim to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model. Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be built, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in random ways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irrational in similar and predictable ways, therefore, irrationality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competition will encourage consumers to make the best option.

Behavioral Economic Method Predicts Future Education and Service Industry Consumer Need

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781731276452
Total Pages : 388 pages
Book Rating : 4.2/5 (764 download)

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Book Synopsis Behavioral Economic Method Predicts Future Education and Service Industry Consumer Need by : Johnny Ch LOK

Download or read book Behavioral Economic Method Predicts Future Education and Service Industry Consumer Need written by Johnny Ch LOK and published by . This book was released on 2018-11-13 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: PrefaceWhat are future education and business industries consumer need challenge? How to predict future education and business industry consumer need challenge? I write this book concerns how to apply behavioral economy method to solve education service to student psychological need challenges as well as how to apply psychological methods to solve consumption challenges for some enterprises. These book divides two part. Part one concerns my recommendations how to attempt to solve students' learning psychological need challenges and explains how economic factor will influence their learning need . Part two concerns my recommendations how to attempt to apply behavioral economy method to solve client consumption challenges.At part one, this book concerns how to apply psychological and economic behavioral methods to predict customer emotion. The first part concerns to how to apply psychological method to predict consumer emotion. The second part concerns to explain what behavioral economy means and how to apply behavioral economic method to predict consumer behavior.It concerns how to apply behavioral economy and psychological method to predict how to manufacture the right food taste to let your consumers to like to eat your food as well as how to produce or design your products to sell to them successfully. I shall use three science and psychology ethnographic research and facial reading technology and online consumption behavioral methods to explain how to predict your client's individual taste and need more accurate. Also, it concerns how to apply psychological method to predict consumer behavior. I shall indiate how to use face reading technology predicts consumer emotion to predict how to do the acceptable ingradients to produce foods to let them to feel more enjoyable to eat sweet foods or drink soft drinking as well as how to use video camera to investigate to predict customer emotion to find what factors had attracted them to choose to buy the manufacturers' products to use and judge whether how to increase your product more attractive to win your competitors.It concerns how to find both what the worst attributed factor(s) had influenced the consumers to be caused to decide not to choose to buy your product as well as what the best attributed factor(s) had influenced the consumers to be caused to decide to buy your product in constructive choice process. I shall indicate how manufacturers can analyze to judge whether what the best and worst attributed factor(s) are during every consumer chooses to buy which kind of product or food in constructive choice process. Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best.

Learning Predicting Consumer Behavior Methods

Author : John Lok
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.8/5 (874 download)

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Book Synopsis Learning Predicting Consumer Behavior Methods by : John Lok

Download or read book Learning Predicting Consumer Behavior Methods written by John Lok and published by . This book was released on 2022-06-27 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book divides three parts, In first part chapter one concerns how economic environment can influence global fuel price change, I shall indicate on how economic environment can influence the relationship between airline freight service fuel consumption useful price change .Can economic measurement can predict when airline fuel price changes to airline freight service industry I shall indicate what factors cause the fuel price will raise as well as what the other external threats can cause risk to airline industry. Moreover, I shall also compare the different fuel price rising factors and other external threats whether which is the most effort to influence airline industry failure. Then, I shall give recommend how global airline industry can apply behavioral economic method to predict when the fuel price will rise possibly. In final part concerns how living economy influences our future living experiences and consumption behaviors. It concerns whether wars can impact economy threat to influence consumption behaviors and environment protection countries awareness how influences consumption behaviors. This book is suitable to any readers who have interest to learn whether macro economic methods how can be applied to consumer shopping behaviors in possible.

Behavioral Economy and Consumption Behavioral Prediction Method

Author : Johnn Ch LOK
Publisher :
ISBN 13 : 9781521916117
Total Pages : 470 pages
Book Rating : 4.9/5 (161 download)

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Book Synopsis Behavioral Economy and Consumption Behavioral Prediction Method by : Johnn Ch LOK

Download or read book Behavioral Economy and Consumption Behavioral Prediction Method written by Johnn Ch LOK and published by . This book was released on 2017-07-23 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt: In one part, it aims to show what the weaknesses of the standard economic model are and the behavioral economic model strengths are to predict consumer behavior. I find to use the behavioral economic model to predict consumer behavior is more accurate to compare to use standard economic model.Behavioral economy is consisted from psychology and standard economic model. Standard economic model is the way most economists think about consumer welfare and consumer choice in microeconomic environment. I shall apply behavioral economic model to explain underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises which rationality in the standard economic model relies heavily on the assumption that consumers are rational. In this case of consumer individual behavior consumption process, I assume that consumers are fully aware of all the options who have, who can always and consistently to rank their options in accordance will whose preferences and always choose the option who like best. Thus, these assumptions of the standard economy model of consumer include such as: consumers have known preferences and consumers choose the best option available. The advantages of the standard model, from there three assumptions, such as a logically consistent theory of consumer behavior can be biult, that theory can be used to make predictions about consumer behavior and those predictions can be compared with reality. These models often correspond to actual consumer behavior. But behavioral economy model can give evidence from psychology to show that consumer often are irrational and also who are predictably irrational. Clearly, psychology has shown that the rationality assumptions of standard economics are wrong. For example, if irrational consumers were irrational in randomways, who would cancel each other out, leaving the overall outcome determined by the behavior of rational consumers. In that case, economic theories that ignored irrational between would work just fine. But psychology has shown that consumers are irratonal in similar and predictable ways, therefore, irratonality doesn't cancel out and can't be ignored. Moreover, the fact that consumers are predictably irrational means that whose predictably irrational behavior can be relatively easily inserted into economic theories to make economic predictions more accurate. In fact, consumers often are unable to make use of what who know about their available options and their preferences to figure out the best available option, and even when who know what is best for them, evidence shows tht who often make bad choices anyway. Unfortunately for economic view point, there's plenty of reliable evidence of predictably unselfish behavior to consumers. It is true, that the free market competitiion will encourage consumers to make the best option.

Judgement the Difference Between Behavioral Economy and Psychological Methods to Predict Consumption

Author : Johnny Ch LOK
Publisher :
ISBN 13 : 9781521974322
Total Pages : 519 pages
Book Rating : 4.9/5 (743 download)

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Book Synopsis Judgement the Difference Between Behavioral Economy and Psychological Methods to Predict Consumption by : Johnny Ch LOK

Download or read book Judgement the Difference Between Behavioral Economy and Psychological Methods to Predict Consumption written by Johnny Ch LOK and published by . This book was released on 2017-07-30 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second part concerns how to explain what behavioral economy means and how to apply behavioral economy method to predict consumer behavior. Behavioral economics can provide more realistic psychological foundations. This part is intended to explain why consumer behaviors and economy has close relationship and apply economic concept to explain how the consumer chooses to do whose consumption of decision. In second part, it shall indicate how the process of behavioral economic field develops, then I shall show what methods are used to measure behavioral economy. Next, I shall indicate what the main two categories of behavioral economy are as well as I shall explain what risky and uncertain outcomes of individual behavior economic theories are as well as what behavioral game theory is. Finally, I shall explain how policy makers or decision makers can apply behavioral economy concept to do whose policy decision as well as I shall also indicate why behavioral economy and psychology which has close In summary, standard economic theories assume that consumers are rational and self- interested. However, behavioral economic theories assumes that psychology shows who are not rational usually. I shall indicate how consumer's psychological decision to choose their behavioral consumption in actual life environment for underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises. Some consumption of these enterprises evidences also show that consumer individual irrationality , these enterprises have predictable features in these enterprises consumption situation I shall use these enterprises to explain why behavioral economy can make economic predictions more accurate by using these enterprises' consumption evidences on their predictable irrational behavior to these enterprises. Although, these global enterprises' market competition is serious, consumers may be expected to learn to reduce irrational behavior over time, these processes may not work well and may take. You can read these underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to make judgement why behavioral economic model is more accurate to predict consumer behavior to compare standard economic model.In this part, I shall indicate underground train and Disney entertainment theme park and University and unground train transportation and environmental protection businessmen etc. enterprises to explain how which can apply psychological methods to predict which client's preferable behavioral choice to achieve economic benefits more easily. Thus, if company or individual businessman can predict labor psychology or client psychological consumption behavior. Then, which can have more confidence to attract more clients or reduce labor turnover. This book is suitable to any economists or policy makers or individual consumption makers or students or businessmen who have interest to learn how to apply behavioral economy methods to judge to do the most reasonable or the most right economic activities to achieve economic benefit in everyday life.Finally, in part three, I shall explain why to apply either behavioral economy or psychological method to predict as above sample cases which is more suitable to predict consumer behavior.I wrote this book for several reasons. I want to give my opinions to let businessmen to know how to apply psychological method or behavioral economic method to predict consumer behavior. Psychological method prediction is concentrated on consumer individual emotion, such as between salespeople and customers contact in one shop. Otherwise, behavioral economic method prediction is concentrated on serving consumers in public service industry, e.g. education, transportation, entertainment etc. public service businesses.