Individual Consumer Decision-Making Process Paper Essay

Individual Consumer Decision-Making Process Paper - Essay Example In this paper, we will discuss the ways marketers can use the consumer decision-making process to drive buyer’s actions. The paper will also include a discussion on the impact of marketing on consumer satisfaction. As Tatum (n.d.) states, â€Å"with most customer buying process models, the approach begins with the determination by the consumer that he or she has a need or a want that must be fulfilled†. At this stage of consumer buying process, consumers identify their needs and then carryout a search for the available alternatives. At this stage, marketers determine the needs of the customers to know what strategies they should use to make people buy their products. Moreover, marketers can look at various aspects of the requirements of the customers to know whether their marketing strategies will be able to drive customer focus or they need some modifications to make their products attractive for the customers. Problem recognition stage is of great importance in the overall consumer buying process because this is the stage when a customer makes out whether he/she should continue with the buying process or not. This stage is dependent somewhat on the marketing of products. i.e. people first look at the advertisements of new products and then if they like some particular product, they make up their mind to continue the buying process. At this stage of the buying process, a customer searches for some available alternatives which are similar to the product they are intending to buy. If they find some better product from the same product range, they shift their choice to that item and discard their decision to buy the already chosen product. Consumers explore promotional materials and product’s history gain information about the desired product (Stroebel, 2011). From the perspective of consumers, search for the alternatives refer to the search for companies that manufacture the desired product. Marketers can play a vital role at this stage

Ethics Essay Example | Topics and Well Written Essays - 750 words - 9

Ethics - Essay Example This may be problematic for the healthcare personnel to diagnose the actual disease a patient will be suffering from, and it may be difficult to apply proper medication to the patient. This is dangerous since it can be harmful to the patient in the long run. However, there are certain instances where breach of confidentiality can be viewed in a positive light. If a patient, particularly an adolescent, is diagnosed with a disease that can be harmful to him or her, then there is a need for breach of confidentiality if it is necessary for the parents to know the case. If the disease is also a threat to the community at large, then it may be imperative for the healthcare practitioner to breach confidentiality. In this particular case, Hathaway believes that harm will come to Andrea who has been diagnosed with cervical cancer unless the parents are informed of the diagnosis of the disease. The problem is that the patient is minor, hence she may not follow proper channels of having the dis ease cured unless her parents are informed. It is also difficult in different healthcare systems in the US for a minor to be treated with such disease without parental consent. Therefore, for the benefit of the minor in this case, it will be ideal to breach confidentiality. 2. ... The case of cervical cancer can pose a threat to public health if it is not controlled. Therefore, measures should be taken in order to ensure that public health is not negatively affected, hence the reason to breach the principle of confidentiality. The virtue theory, on the other hand, talks about what a good person will do in certain circumstances in life (1). In this case, a good person will take measures that are meant to protect the patient as well as the community at large. Any action that is beneficial to the community and the patient is appropriate though it may entail that confidentiality will be breached. These two ethical theories give the healthcare practitioner a leeway to make positive decisions though they may be in breach of confidentiality. 3. In order to address the dilemma presented in this particular case study, there are different stages that can be taken. First and foremost, it is imperative to diagnose the situation and identify all the problems associated wit h the scenario. It is important to gather as much information as possible about this particular problem so as to be in a better position to gain an insight into it. Having identified the problem, it becomes important to try to come up with as many solutions as possible to the problem identified. Once the probable solutions have been identified, the healthcare professional involved can then take the opportunity to select the best possible solutions that are likely to yield the best results from taking that particular course of action. When the best solution has been found, then it can be implemented in order to address the situation. However, implementing the decision is not an end in itself but part of an ongoing process. For instance, it will be important to

The using Okuns law to track and analyze the changes in the Research Paper

The using Okuns law to track and analyze the changes in the unemployment rates over the last decade - Research Paper Example Output and employment have a tendency to more simultaneously. In 1962, Arthur Okun conducted an empirical research over the relation between changes in unemployment to the changes in gross national product in US economy.The Using Okun’s law to track and analyze the changes in the unemployment rates over the last decade.He found that for every 3 percent increase in real output of the country, unemployment decreased by 1 percent. The observers of this result started to dub it as â€Å"Okun’s Law†. Thus for the United States, Okun coefficient is 3. It can logically be expected the output of a country to approximately move one for one with the level of employment. Okun, however, argued that Measures unemployment is less volatile to any economic change than output. This is for, according to him, fluctuations in working hours and labor force participation generally hide underemployment to some extent. (Okun, 1962). Okun coefficients are not same for all countries. It h as been found by the economists that most of the developed or industrialized nations of the world have higher Okun coefficients than United States. It simply implies that, in most of the other industrialized nations of the world the rates of unemployment have a tendency to vary less for a given fluctuation in gross domestic product than in case of the United States. A reason for this could be that in United States labor market is less regulated than in other countries and hence companies can more easily lay off their workers during economic slowdowns. In most of the industrialized countries, there are stronger implicit job protections by the societies, stronger unions, and higher governmental restrictions on laying off workers than in United States. (Kaufman, 1988; Moosa, I. A.(1997) However, over the years, many industrialized countries have undertaken various reform measures to reduce restrictions on labor market so that companies can exercise more freedom in laying off workers at the time of economic downfall. Thus, Okun coefficients of many industrialized countries like UK, Canada, Germany, Japan, France and so on have been lowered in recent time than before. However, USA still has the largest Okun coefficient. (Kaufman, 1988; Moosa, I. A.(1997) One interesting thing about Okun coefficient is that it can change over time as the relationship between output growth and change in unemployment depends to a large extent on a number of other factors like technology, social regulations, demographics, laws, etc. As these factors change, Okun coefficient might also change. (Lee, 2000). Here this Okun’s law will be used to analyze the movement in the rate of unemployment in US over the last decade. Here an attempt will be made to find out whether Okun coefficient is still the same in US as documented by Arthur Okun. The last decade has experienced huge economic fluctuation, and hence it would be quite interesting to find out the value of Okun coefficient under such economic slow down in US. At present, most of the economies throughout the world are going through a critical phase of recession and among all the economies. The situation has been so critical that the most power economies in the world also have not been able to escape this economic crisis. Economies of U.S., Japan, China, U.K. etc are all suffering from severe demand crunch and consequently fall in production and employment. U.S. is the Worst hit country by the current recession. The ongoing economic crisis through out the whole world owes it origin in U.S. following a huge credit crisis in the home loan market. Since early 2008, the U.S. economy has been looming under recession. Many economists are even of the opinion that this recession has started during the last quarter of 2007 itself. The effect of recession has not been confined to U.S. economy only. In late 2007 and even early 2008, most of the stock market indices across the world were touching the sky. Under such sce nario, corporate houses were showing over enthusiasm and in several of countries money was flowing in huge

Human resource Essay Example | Topics and Well Written Essays - 500 words - 1

Human resource - Essay Example I am idealistic and responsible and would rather spend my days doing volunteer work because I am dependable, a team player and an organizer. These characteristics will be effective once I achieve a leadership or managerial position because I can organize my employees and at the same time engage in corporate social responsibility that is good for the community and the image of the organization. I have high management skills which in line with my career success will come in handy My future career goal is to be a strategic Human Resource Manager and therefore the Strategic human resource management is the best human resource category to help me achieve my future goal and enable me to gain enough knowledge to facilitate my smooth initiation into this career. Strategic human resource management is a career that is aimed at enabling organizations prevents foreseeable internal problems that arise in the organization and deteriorate the status of the organization and even reduce productivity immensely. This is an area most organizations are yet to invest in because they usually assume there is a similarity between human resource management and strategic human resource management and hence neglect the strategic aspect of it (Kandula 6). In order therefore to ensure that I achieve my goal and be of help in future to an organization, I need to endeavor in my studies and concentrate on the human resource activity about strategic human resource management as it will not only provide mw with the knowledge but also act as a guide that I will use when working in future. Career success means different things to different people and hence has no definite definition. According to me, career success is much deeper than achieving highly in my education (like having a doctorate) or personal success for that matter. Career success is having a positive impact on the people you have been serving (whether they

Daily Social Responsibility in Action Assignment

Daily Social Responsibility in Action - Assignment Example The involved actions in social responsibility may not necessarily remedy the actual effects on the society but aim achieving an overall social benefit. Organizations also engage in social responsibility in order to meet interest of people who influence the organization’s existence and operations. Partnerships and other contracts may for example be tied to terms for corporate social responsibility and this forces organization to honor their obligations to the stakeholders (Grossling, 2011). Another reason for organization’s participation in social responsibility is that the role averts pressure that would have built against the organization’s interest such as crimes into vandalism of assets (Visser, Matten, Pohl and Tolhurst, 2010). Organizations derive diversified benefits from their participation in social responsibility. Such benefits include reduced costs due to recycled resources, innovation into new products, motivated staff and a safer environment. The organization’s employees however benefit from â€Å"environmental awareness,† and â€Å"improved staff morale† towards higher output levels (Frank and Neergaard, 2012, p. 86). My experience with a company that involved in corporate social responsibility involves witnessing academic sponsorship by a commercial bank to needy students. The bank’s partners initiated this role and it improved customer’s loyalty to the bank, especially people from the beneficiary

David Foster Wallace is on YouTube giving the commencement address at Essay

David Foster Wallace is on YouTube giving the commencement address at Kenyon College, a speech that when published, is called T - Essay Example As a function of seeking to understand this particular speech and a more effective manner, the following analysis will take a nuanced approach, incorporating criticism, review, and analysis of Wallace is pronouncements in the hopes that the reader will gain a more informed understanding with respect to the approach that he champions and the relevance of the information that he presents. Wallace starts by discussing the experience of life; exhorting the listener to â€Å"construct meaning and create relevance† from the otherwise mundane and seemingly pointless activities that all human beings, regardless of their socioeconomic status, race, or ethnic origin, must engage as a function of living. From there, the author delves into the issue of what a liberal arts education actually means; denoting that the education itself means nothing. Rather, the ultimate meaning that is derived from a liberal arts education is solely contingent upon what the individual has the potential to do with it. However, the author strongly encourages the listener to avoid a type of arrogance; maintaining critical awareness in its stead. Whereas it is true, as a Wallace states, that reality is ultimately designed with the individual experience as the only measurement through which understanding can be accomplished, seeking to define the world through such a selfish viewpoint necessarily decreases the degree of empathy and understanding that an individual might otherwise exhibit (Boswell 368). As a function of this, Wallace encourages the individual with regards to what they should pay attention to; defining the debate within oneself and utilizing the liberal arts education as a means of affecting this. As such, not becoming detached, not refusing reality because it is painful, sad, monotonous, or mundane, and continually exercising a right and will towards thinking come to be the prime mechanisms through which Wallace point of view can most reasonably be affected (Veggian 99). In effect, what Wallace is promoting is an understanding of the fact that thinking is a choice and should not be an automatic setting; albeit a choice that a liberal arts education necessarily encourages. Finally, hammering this point home further, Wallace discusses the necessity of not being lulled into a complacent routine. Rather, seeking out â€Å"thinking† and utilizing the experiences and knowledge that are gained from a liberal arts education is not only an opportunity but in fact something of a calling that each and every individual that experiences such an education and can draw upon it must necessarily engage. The irony of all of this has to do with the fact that even though each of these points is effectively expounded upon by Wallace, the author and speaker himself ultimately committed suicide in 2008 (Fest 127). Although the events surrounding his suicide remained largely misunderstood, it is the view of this particular author that Wallace was unable to ascribe to t he high standard of open-mindedness, compassion, and a sense of selflessness that he promoted to the audience within the commencement address. However, this inability upon Wallace part should not be understood as an effective dismissal of the

Contract law Essay Example | Topics and Well Written Essays - 1750 words

Contract law - Essay Example 20,000 to be paid in instalments related to the work completed. The plaintiff got into financial difficulties because the price was too low and he did not supervise the work properly. He had received over 80 per cent of the price but still had far more than 20 per cent of the work to do. The defendants were liable to a penalty clause in the main contract if the work was not completed on time. They were aware of the plaintiff’s difficulties and that the price was too low. They met him and agreed to pay him an extra ?10,300 at ?575 per flat to ensure that he continued with the work and completed on time. The plaintiff completed eight further flats and received a payment of ?1,500. He stopped work and sued for the money he alleged to be owing. The defendants denied liability and, in particular, that they were liable to pay any part of the additional ?10,300 because their agreement to pay it was not supported by any consideration. The judge held that the plaintiff was entitled to eight payments of ?575, less certain deductions. The defendants appealed. â€Å"My understanding of the meaning of the requirement that ‘consideration must move from the promisee’ is that such consideration must be provided by the promise, or arise out of his contractual relationship with the promisor. It is consideration provided by somebody else, not a party to the contract, which does not ‘move from the promisee’†¦Ã¢â‚¬ ¦but it is, of course, not the situation in the present case. Here the benefits to the defendants arose out of their agreement of April 9, 1986 with the plaintiff, the promise.(Glidewell L.J in Williams v Roffey Bros.[1990]) The judge(Glidewell L.J) further concluded that:† I repeat, therefore, my opinion that the judge was, as a matter of law, entitled to hold that there was valid consideration to support the agreement under which the defendants promised to pay an additional ?10,300 at the rate of ?575 per flat. For these rea sons I would dismiss this appeal† In answering the question as to whether promissory estoppel could have been of raised or whether it could have added relevance to Williams v Roffey Brothers, the answer is no, because of the limitations on the doctrine of promissory estoppel. It may be of paramount importance to find the relationship between consideration and promissory estoppel. Consideration originated simply as an indication of the need for a reason for enforcing a promise or obligation, such as the fact that the promisee had given something to the promisor in expectation that the promise would be fulfilled(Atayah, 1986). The rigid set of rules requires that there must be benefit and detriment, that past consideration is no consideration; that consideration must be of economic value; and that gratuitous promises will not generally be enforced. The doctrine of promissory estoppel on the other hand, derives from Lord Denning’s decision in Central London Property Trust Ltd v High Trees Ltd[1947] KB 130. The doctrine gives rise to situations in which a contract can in effect be varied without there being consideration. The facts are that by a lease under seal made on September 24, 1937, the plaintiffs, Central London property Trusts Ltd, granted to the defendants High Trees House Ltd, a subsidiary of the plaintiff company, a tenancy of a block of flats for the term of 99 years from September 29, 1937, at a ground rent of ?2, 500 a year.