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Economic Methods Predicts Consumer Desires
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Book Synopsis Economic Methods Predicts Consumer Desires by : Johnny Ch Lok
Download or read book Economic Methods Predicts Consumer Desires written by Johnny Ch Lok and published by . This book was released on 2018-07-20 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: I write this book researchs two questions:(1) Can macro or micro economy method predict present or future consumption behavioral variation?(2) Can macro or micro economy method measure how much market loss value ?
Book Synopsis Methods Predict How Economic Environment Factor Influence Consumer Desires by : Johnny Ch Lok
Download or read book Methods Predict How Economic Environment Factor Influence Consumer Desires written by Johnny Ch Lok and published by Independently Published. This book was released on 2018-09-09 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introduction I write this book researchs two questions: (1) How to predict micro or macro economic environment factor influences consumption behavioral change ? (2) Can predict how much market loss value from macro or micro economy factor influence ? In chapter one, I shall explain whether how and why researchers can apply macro and micro economic methods to measure agricultural food loss and waste challenges. In chapter two, I shall explain whether online ecommerce video, movie and music businessmen can apply statistic mathematical system web visitor behavioral forecasting method to attempt to predict when, how and why online product sale price range and visitor number will ought be changed to raise online buyer number more accurately. In chapter three, I shall explain whether fast food manufactuers can apply macro or micro economy method to predict when, how and why next year fast food sale number and price range will ought be how changed more accurately as well as predicting what challenges will encounter and finding the solve methods to be attempted to solve next year. In chapter four, I shall explain whether Africa government can apply micro and macro economy to attempt to predict when and how any why its farming industry development and health service industry will change as well as how to find solutions to raise Africa country itself economy growth more easier. I expect my readers can make analytical judgement to evaluate whether macro or micro economy method can predict when and how and why consumer behavior will change after your reading.
Book Synopsis Behavioral Economic Method Explains And Predicts by : Johnny Ch Lok
Download or read book Behavioral Economic Method Explains And Predicts written by Johnny Ch Lok and published by . This book was released on 2019-06-15 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: I shall indicate how to apply different behavioral economy methods to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.1.Demand systems and micro-economic factor influence basic income people consumption attitudeWhy stable basic income people will like to consume?
Book Synopsis New Economic Measurement Method by : Johnny Ch Lok
Download or read book New Economic Measurement Method written by Johnny Ch Lok and published by . This book was released on 2020-10-08 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Micro or macro economic method consumer desire measurementThe role of economy can measure consumer behavior, it can be used to analyze and gather social data, e.g. how many different brands of product are selling in the country, how many youth people, working people, old peole age groups are living in the country, how many the kind of product number is sold in the yar, how many average shopping times to the kind product to the country overall consumers number in the year, how long useful time to be replaced another new product, the counry's consumers they use the kind of product. Consequently, economist can conclude the effect of the kind of product sale number, different age of consumers' purchase times and useful time etc. different market data in order to predict whether the kind of product ought be manufactured how many number which is the most suitable number as well as whether the reasonable price level is to achieve the most highest sale income to the country's the kind of brand product next year.In general, consumer behavioral research economists have improved the research task of analysing and predicting econmic change how it can influence consumer behavior. A great deal of econometic work has been devoted to building and testing models, that is systems of relationships designed to how the interdependent variation of a set of variable, and with estimating the constants in these consumer behavioral influence models.Moreover, a system of equations in which the values of some variables appear for consecutive time periods can be used for any countries' consumer behavioral changing prediction purposes, but the predictions which can be dervied express the way in which the system would vary through time if it were allowed to run undistributed. Ths aspect ot the research consumer behavioral changing matter is now recognized and specifies the assumed properties, since they have importance bearing not only in prediction, but also on the estimation, e.g. how and why and when the country's consumer purchase habit will sudden change. Hence, the consumer behavioral research economists' role is to provide the country's market information about the systematic factors at work, so that the variable element of guess-work is reduced as far as possible.All practical economists who are not econometricians will readily assent to this statement as it relates to identities or definitions. No one in his senses will be content with predictions: what the most minimum of income level influences consumer individual shopping desire reduces, what the most minimum of savings level influences general consumers' shopping desires reduce etc. which do not satisfy the usual accounting identifies.Economics is the science which indicates human ( consumer) role is as a relationship between ( achieving sale effect ) and consumers feel scarce to buy the product ( psychological response), because general consumers feel scarce or shortage supplying to the product in themselves coutry market. They will choose to attempt to visit any shops to buy the product immediately. So, scarce or shortage supplying factor may be one important factor to influence general consumers expect to buy the kind of product immediately if they feel the brand of product is shortage to sell to them in any shops in the country. It may be more important to compare cheaper price factor, inflation factor, the shop's geographical location far away to the consumer individual home factor, savings or investment etc. different factors to influence the country's consumers purchase desires to be raise up or fallen down.
Book Synopsis Behavioral Economic Method Predicts How Employee Influences by : Johnny Ch LOK
Download or read book Behavioral Economic Method Predicts How Employee Influences written by Johnny Ch LOK and published by . This book was released on 2019-10-24 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can apply behavioral economy method raises basic stable income consumer consumption desireEconomists aim to develop models of human behavior and interactions in consumption markets. But consumers behave in complex ways, such as how to predict consumers to make rational decisions in consumption processes. Moreover, self-consumption control and motivation can vary significantly across different individual consumer.In order to build useful consumption prediction models, economists make simplifying assumptions, aims to predict how to raise stable basic income consumer target group consumption more success. However, behavioral economy method is one kind of accurate consumption prediction method. It can be applied to predict economic decision-making to every consumer consumption choice more accurate raising whose consumption desire?I shall indicate how to apply different behavioral economy methods to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.
Book Synopsis Behavioral Economic Method Predicts Consumer And by : Johnny Ch Lok
Download or read book Behavioral Economic Method Predicts Consumer And written by Johnny Ch Lok and published by . This book was released on 2019-10-06 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is a confidence indicator ?A confidence indicator is considered as an explanatory variable for consumption together with standard variables used on predicting consumption expenditure. However, the natural real personal consumption expenditure is unexpected and unpredicted easily.In conclusion, consumption expenditure depends the consumer individual confidence. If the consumer has much confidence to feel this year economic change will be better and he/she is easily to find job, then he/she will accept consumption easily in this year. It seems financial wealth and unemployment etc. economic factors will influence every household consumption desire. So, survey is one kind of good psychological consumption prediction method to predict consumption spending for any country in the year. I recommend manufacturers may choose to apply survey method to attempt to enquire sample survey people to gather data to predict whether what degree of consumption desire to them and find solution methods to solve low degree of consumption desire challenge.How to apply behavioral economy methods to influence employee individual psychology to achieve raise productivity of long term incentive intention?
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.
Book Synopsis Macro and Micro Economic Methods How Predict by : Johnny Ch Lok
Download or read book Macro and Micro Economic Methods How Predict written by Johnny Ch Lok and published by . This book was released on 2021-05-11 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: However, micro and macro economy changing factor will influence online buyer number indirectly. If the market environment will change to be better, so the company can attempt to spend more expenditure to expand its business from online sale channel. Otherwise if market environment will change to be worse, so the company can not attempt to spend more expenditure to expect its business from online sale channel.The web search forecasting method includes: statistic mathematical system web visitor behavioral forecasting method that uses aggregate for sometimes disagreed data to test the conclusion of systems whether when the country marketing environment will change to be better or worse next year. Thus, statistic mathematical system web visitor behavioral forecasting method will help online businessmen to attempt to solve these questions such as below: Whether the organization ought to dismiss or keep or increase online ecommerce channel employee numbers next year? Whether the online sale product' price range ought to be increased or decreased or stable no change next year? Whether online consumer's consumption desires will raise or fall down next year? Whether the organization ought to spend more or less its expenditure on advertising to online sale channel next year?All these questions will be attempted to predict how market will change by statistic mathematical system web visitor behavioral forecasting method next year. They can gather both past online similar product competitors and the online seller itelf data consider past which industry's web sale market variable, price variable, employee number variable, product number variable data within one to five years or five to ten years, even more than ten years to conclude next year how and when online sale market variable prediction more absolutely. For example, the online product manufacturers can attempt to gather global all different online car brand manufacturing competitors data, including their different kinds of vehicle sale number, online car sale price, car sale number, e.g. sport style design car, four seats private car, six seats private car, two seats private car from online sale data channel.Then, the car manufacturer can conclude whether this past one to five years or six to ten years or ten to twenty years period which online vehcile sale market which had how many sport car online sale number, four seats or six seats or two seats private car sale number, which private and sport car online sale price range e.g. from average US$5,000 to US$10,000 car online sale price, total online private car sale number 5,000,000 within ten year, e.g. from average US$10,001 to US$30,000 total online private car sale 3,000,000 number within ten year. Consequently, the car manufacturer can apply past gathering itself or competitors' online car sale price and online car sale number data statistical method to conclude whether it ought set up how much online car sale price for private or sport car online sale in order to achieve the highest private or sport car online sale number next year. Hence, web search forecasting method can be one kind of tool to predict next year how and why and when online sale number and price range will change for any industries more accurate.
Book Synopsis Raising Customer Consumption Desire by : Johnny Ch Lok
Download or read book Raising Customer Consumption Desire written by Johnny Ch Lok and published by Independently Published. This book was released on 2018-10-17 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is concerned how to apply behavioral economy method to predict consumer behavior. Also I shall compare to explain what advantages and disadvantages between any one of my solvable suggestions and the any one of the company's choice of solvable method to these any one sample industry consumer behavioral economic challenges to aim to let any reader to judge whether how to choose the solvable method is better. In, conclusion, this book can provide sample industries to let students to learn how to behavioral economy method to predict consumer behaviors.Research question: How to raise consumers' consumption desire?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. 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.
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.
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 . This book was released on 2018-04-18 with total page 318 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can constructive consumer choice processes influence consumption behavior?In micro economy view point, if the consumer needs long time to decide whether who will choose to buy the product. Then, it is possible that the consumer will choose to buy other kind of similar product to replace this product. It is the consumer's psychological long time product choice pressure factor to influence whose final choice to buy this product. Consumer decision making has been an interest in consumption behavior research, e.g. how technological changes, an information explosion factor can influence consumer individual choice decision to buy any products. Due to limited processing capacity, consumers often don't have well-defined existing preferences, but construct them using a variety of strategies contingent on task demands. Rapid technological changes for instance, has led to multitudes of new products and decreased product lifetimes. In addition, new communications media, such as the world wide web have made amounts of information on options potentially available ( Alba et al. 1987). It seems time pressure, such as fast product lifetimes and new communications, media, internet advertisement can influence consumers how to make decision to buy any thing which is the best to them, e.g. choice of gathering products of advertisement information to buy products from internet ( electronic shopping) instead of traditional visiting shops consumption behavior. So, new information advertisement media, e.g. internet advertisement consumer information media will influence consumer individual decision tasks. For example, a consumer may be fairly certain about the values of some of the attributes to choose to buy which kind of mobile phone from electronic shopping easily at home. However, the consumer may not have information for all of the mobile phone options on some attributes ( e.g. reliability information would not be available for a new mobile model) from internet advertisement. In addition, some attributes, such as safety may be difficult for consumer to trade off; making trade off requires possibly accepting a loss on such an attribute with potentially threatening consequences. What is characteristics of consumer decision strategy in product choice process? It includes the total amount of information processed, the selectivity in information processing, the pattern of process, ( whether by alternative brand or by attribute). First, the amount of information processed is very a great deal. For example, a mobile phone choice may involve detailed consideration of much of the information available about each of the available mobile phone, as implied by more rational choice models, or it may have a consideration of a limited set of information ( e.g. repeating what are choices last time). Second, different amounts of information can be processed for each attribute or alternative ( selective processing), or the same amount of information can be processed for each attribute or alternative ( consistent processing). For example, suppose a consumer considers the mobile phones to decide that life time is the most important attribute, processed only that attribute and chooses which mobile brand, with the famous brand value on that mobile phone attribute. Third, choice process would involves on that attribute. This choice process would involve highly selective processing of attribute information ( since the amount of information examined differs across attributes), but consistent processing of alternative mobile phone brand information, since one piece of information is considered for each mobile phone. The fact that working memory capacity is limited effectively requires selective attention to information, e.g. internet advertisement media.
Book Synopsis Demand and Supply Theory Predicts by : Johnny Ch Lok
Download or read book Demand and Supply Theory Predicts written by Johnny Ch Lok and published by . This book was released on 2020-11-12 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: How can apply demand and supply theory raises basic stable income consumer consumption desireEconomists aim to develop models of human behavior and interactions in consumption markets. But consumers behave in complex ways, such as how to predict consumers to make rational decisions in consumption processes. Moreover, self-consumption control and motivation can vary significantly across different individual consumer.In order to build useful consumption prediction models, economists make simplifying assumptions, aims to predict how to raise stable basic income consumer target group consumption more success. However, behavioral economy method is one kind of accurate consumption prediction method. It can be applied to predict economic decision-making to every consumer consumption choice more accurate raising whose consumption desire?I shall indicate how to apply different behavioral economy methods ( demand and supply theory) to raise stable basic stable income target consumer group consumption desire in these different consumption situation ( consumption environment) aspects as below:1.Stable basic stable income consumer group consumption great or small amount desireThe consumption of products and services is a fundamental part of consumer's welfare. Basically, every one who has stable basic stable income, who will like to consume any products and services. Even, consumption great or small amount desire won't be depended on whether the person whose income is more or less. It means low income level of people will still like to consume great amount to buy expensive products or consume expensive services, because consumption is human's part of life and basic needs. This stable basic income people will like to consume, because they have stable income source when they do not worry about unemployment occurrence to cause them have no enough money to support their life. Otherwise, non-stable basic stable income people won't like to consume because they feel they have no stable basic income source to support their life and they will worry about unemployment occurrence any time. Hence, stable basic income people will have more consumption desire to compare non-stable basic stable income people in any countries usually. Behavioral economic method indicates they feel their economic benefits will be loss if they planned to buy any products or consume any services easily. So, they prefer to save money in bank more than consumption.Prediction traveller individual tourism entertainment package choice from psychology view and computer statistic view. How to predict travel consumption? It is one question to any travel agents concern to use what methods which can predict how many numbers of travelers where who will choose to go to travel more accurately. I think that who can consider how to predict travel behavioral consumption from psychology view and computer science view both.On the psychology view, It has evidence to support the relationship between self-identify threat and resistance to change travel behavior to any travelers, controlling for whose past travelling behavior, resistance to change if a psychological phenomenon of long standing interest in many applied branches of psychology. Past travelling behavior has been acknowledged as a predictor of future action. Such as travelling behavior that is experienced as successful is likely to be repeated and may lead to habitual patterns. Some psychologists differentiate habit between two concepts, such as goal oriented and automatic oriented both. Although repeated past travelling behavior is addition goal oriented and automatic oriented. Further non-deliberative nature of habit may make appeals to judge and to predict future individual traveler's behaviour accrately. However, repeated travelling behavior without a necessary constraint of goal orientation and automatic oriented both.
Book Synopsis What Are Marketing Information and Artificial Intelligence Customer Psychological Predictive: Methods by : Johnny Ch Lok
Download or read book What Are Marketing Information and Artificial Intelligence Customer Psychological Predictive: Methods written by Johnny Ch Lok and published by Independently Published. This book was released on 2019-01-03 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic science or economic art methods predict consumer behaviorEconomic is both a science and art. Economic is considered as science because systematic knowledge derived from observation, study and experimentation. An art is the practical application of knowledge for achieving definition ends. A science teaches us to know a phenomenon and art traches us to do a thing. How to apply economic science or art method to predict consumer behavior? for example, there is a inflation US this year. This information is derived from positive science. The government takes certain fiscal and monetary measures to bring down to general level of prices in the country. The study of the monetary measures to bring down inflation makes the subject of economics as an art. Hence, as this case, if US government applies economic science or art method to predict this year will have inflation in US, then US government will attempt to avoid social general product prices to be raised, due to inflation influence. It aims to avoid US consumers reduce consumption desire in this year.For another example, nothing could be more useful than water. But in much of the world waste is plentiful enough that another glass more or less matters little to a fresh water supply agent businessman. So, water is chap. But, if any offices buy bottle of glass fresh water to let employees to drink. It will bring advantages that they do not spend time to buy water to drink when they are working in the office time in any offices as well as employees do not need to heat water to drink to waste time to work in offices. So, the bottle of fresh drinking water supply agent is one kind of drinking water product monopoly fresh drinking water supplier to supply fresh drinking water to satisfy office employees who do not need to spend time to heat water to drink in offices. Hence, it is possible that replace other different kind taste of drink or office employees themselves heat water drink in offices. It is general office employees' drinking habits and drinking choice in offices popularly. So, the bottle of fresh drinking water supply agents will concentrate on selling their fresh drinking water to office employee customers only in global fresh drinking water consumption target market. The office employees must be fresh drinking water companies' main target consumers.What is economic laws qualitative or quantitative method to predict consumer behavior? Law of economic are qualitative in nature. They are not exactly stated in quantitative terms. They tell the direction of change which is expected rather than the amount of change. For example, according to the law of consumer demand, the quantity demanded varies inversely with price, We don't say that 10% rise in price will lead to 30% fall in the customers' quantity demand.What is economic merits of deduction method? This method is near to reality. It is less time consuming and less expensive. the use of mathematical techniques in deducing theories of economics brings exactness and clarity in economic analysis. The deductive method is highly abstract. It require a great deal of care to avoid bad logic or faulty economic reasoning. This method makes conclusions to predict consumer behavior, due to reliance on imperfect and correct assumptions. It involves the process of reasoning from particular facts to general principle on the basic of experimentations, observations and statistical methods. In this method, data is collected about a certain economic phenomenon. There are systematically arranged and the general conclusions are drawn from them.What are the advantages of inductive method to predict consumer behavior? It is based on facts as such the method is realistic. In order to test the economic principles, method makes statistical techniques. The inductive method is therefore more reliable, inductive method is dynamic
Book Synopsis Behavioral Economy Methods Predict Organizational Behavior and Marketing Behav by : Johnny Ch Lok
Download or read book Behavioral Economy Methods Predict Organizational Behavior and Marketing Behav written by Johnny Ch Lok and published by Createspace Independent Publishing Platform. This book was released on 2018-04-24 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: How behavioral economy method can predict consumer behavior. This book can explain the actual evidences and cases to prove why it is possible to apply behavioral psychology methods to predict consumer individual purchase desire more successfully.
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.
Book Synopsis How to Predict Consumer Psychology by : Johnny Ch Lok
Download or read book How to Predict Consumer Psychology written by Johnny Ch Lok and published by Independently Published. This book was released on 2019 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part TwoPsychological method predicts consumer behabiorIntroductionWhat is the standard economic model? It is the standard economic model, the way most economists think about consumer welfare and consumer choice. What is the rationality in the standard economic model? The standard economic model relies heavily on the assumption that consumers are rational. Standard economic model assumes that consumers are fully aware of all the options who have, who can always and consistently, rank whose options in accordance with their preferences, and always choose the option, who like the best option. Thus, what the assumptions of the standard economic model of consumer are? The assumptions include consumers act with full information, consumers have known preferences, consumers choose the best option available.The standard economic model of consumer behavioral prediction method advantages includes: 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 and those models often correspond to actual behavior of consumption reasons. What is the inconvenient truth? It includes clear evidence from psychology has shown that the rationality assumptions of standard economic model are wrong. Evidence from psychology has shown that consumers often are irrational and also who are predictably irrational. So these are wrong view point to influence how economists judge what cause consumption of behavior. Thus, it beings this question? What is mean of predictably irrational? It means that of irrational consumers were irrational in random ways, who would cancel each other out, leaving the overall outcomes determined by the behavioral consumption of rational consumers. As that case, economic theories that ignored irrational behavioral consumption 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 to judge why the behavioral consumption has been caused.
Book Synopsis Methods Predict Consumer Behavior by : John Lok
Download or read book Methods Predict Consumer Behavior written by John Lok and published by . This book was released on 2022-03-21 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
