This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-...This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-alternative”characteristics of mental accounting,this paper expounds how the strategy of the bilingual live-streaming of Oriental Selection promoters stimulates consumers’desire to buy the advertised products and services whilst using the utility theory of mental accounting to analyze how Oriental Selection promoters improve consumers’acquisition utility and total utility.Secondly,we sum up the successful experiences of Oriental Selection:The live-streaming industry should apply the theory of mental accounting in effectively overcoming the shortcomings of the live-streamed marketing by stimulating consumers’desire and influencing their decision-making behavior through the streaming of content that triggers them to make purchases.This is achievable by abandoning the traditional ways of loudly urging consumers to buy goods.Finally,this paper puts forward some suggestions on how to use the mental accounting theory in promoting sustainable consumption and points out the prospects for Oriental Selection.展开更多
The following paper attempts to understand if income determines the buying decision-making styles of consumers in Bhubaneswar,the capital city of Odisha,a state located on eastern India.A total of 103 respondents of B...The following paper attempts to understand if income determines the buying decision-making styles of consumers in Bhubaneswar,the capital city of Odisha,a state located on eastern India.A total of 103 respondents of Bhubaneswar were chosen by using the Mall intercept method.The samples were classified into three groups based on their average annual family income such as High Income,Middle Income and Low Income groups.Exploratory Factor Analysis was carried to identify the decision-making styles.ANOVA was employed to compare the shopping styles of these three income sub-groups.Results indicate that differences in consumer shopping styles exist among the income sub-groups.Findings of the study can be used by marketers for segmentation,targeting and positioning of retail shoppers which may facilitate them to compete efficiently.It is recommended that different income sub-groups should be viewed as distinct consumer segments and strategies should be formulated to cater each segment effectively.展开更多
This study investigates the role of default options in the relationship between trait anxiety,and decision-making styles and financial decisions.One hundred and ninety-four participants were divided into three groups ...This study investigates the role of default options in the relationship between trait anxiety,and decision-making styles and financial decisions.One hundred and ninety-four participants were divided into three groups and subjected to three different conditions.Under each experimental condition,they had to decide whether to accept or reject investment proposals.In the first group,they had been enrolled in investment plans by default(opt-out condition),in the second group,they had not been automatically enrolled in these plans(opt-in condition),and in the third group they had to choose whether to enroll or not(control condition).The results showed that the investment decisions of anxious,avoidant,rational and dependent individuals could be facilitated by default options.In conclusion,using default options as a“nudge”can support specific groups of people to improve their financial decisions.展开更多
This paper describes a model to simulate the decision-making process of consumers that adopts technology within a dynamic social network.The proposed model use theories and tools from the psychology of consumer behavi...This paper describes a model to simulate the decision-making process of consumers that adopts technology within a dynamic social network.The proposed model use theories and tools from the psychology of consumer behavior,social networks and complex dynamical systems like the Consumat framework and fuzzy logic.The model has been adjusted using real data,tested with the automobile market and it can recreate trends like those described in the world market.展开更多
With the rise of live streaming on social media, platforms like Facebook, Instagram, and YouTube have become powerful business tools. They enable users to share live videos, fostering direct connections between busine...With the rise of live streaming on social media, platforms like Facebook, Instagram, and YouTube have become powerful business tools. They enable users to share live videos, fostering direct connections between businesses and their customers. This critical literature review paper explores the impact of live streaming on businesses, focusing on its role in attracting and satisfying consumers by promoting products tailored to their needs and wants. It emphasizes live streaming’s crucial role in engaging customers, a key to business growth. The study also provides viable strategies for businesses to leverage live streaming for growth and customer engagement, underscoring its importance in the business landscape.展开更多
文摘This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-alternative”characteristics of mental accounting,this paper expounds how the strategy of the bilingual live-streaming of Oriental Selection promoters stimulates consumers’desire to buy the advertised products and services whilst using the utility theory of mental accounting to analyze how Oriental Selection promoters improve consumers’acquisition utility and total utility.Secondly,we sum up the successful experiences of Oriental Selection:The live-streaming industry should apply the theory of mental accounting in effectively overcoming the shortcomings of the live-streamed marketing by stimulating consumers’desire and influencing their decision-making behavior through the streaming of content that triggers them to make purchases.This is achievable by abandoning the traditional ways of loudly urging consumers to buy goods.Finally,this paper puts forward some suggestions on how to use the mental accounting theory in promoting sustainable consumption and points out the prospects for Oriental Selection.
文摘The following paper attempts to understand if income determines the buying decision-making styles of consumers in Bhubaneswar,the capital city of Odisha,a state located on eastern India.A total of 103 respondents of Bhubaneswar were chosen by using the Mall intercept method.The samples were classified into three groups based on their average annual family income such as High Income,Middle Income and Low Income groups.Exploratory Factor Analysis was carried to identify the decision-making styles.ANOVA was employed to compare the shopping styles of these three income sub-groups.Results indicate that differences in consumer shopping styles exist among the income sub-groups.Findings of the study can be used by marketers for segmentation,targeting and positioning of retail shoppers which may facilitate them to compete efficiently.It is recommended that different income sub-groups should be viewed as distinct consumer segments and strategies should be formulated to cater each segment effectively.
文摘This study investigates the role of default options in the relationship between trait anxiety,and decision-making styles and financial decisions.One hundred and ninety-four participants were divided into three groups and subjected to three different conditions.Under each experimental condition,they had to decide whether to accept or reject investment proposals.In the first group,they had been enrolled in investment plans by default(opt-out condition),in the second group,they had not been automatically enrolled in these plans(opt-in condition),and in the third group they had to choose whether to enroll or not(control condition).The results showed that the investment decisions of anxious,avoidant,rational and dependent individuals could be facilitated by default options.In conclusion,using default options as a“nudge”can support specific groups of people to improve their financial decisions.
文摘This paper describes a model to simulate the decision-making process of consumers that adopts technology within a dynamic social network.The proposed model use theories and tools from the psychology of consumer behavior,social networks and complex dynamical systems like the Consumat framework and fuzzy logic.The model has been adjusted using real data,tested with the automobile market and it can recreate trends like those described in the world market.
文摘With the rise of live streaming on social media, platforms like Facebook, Instagram, and YouTube have become powerful business tools. They enable users to share live videos, fostering direct connections between businesses and their customers. This critical literature review paper explores the impact of live streaming on businesses, focusing on its role in attracting and satisfying consumers by promoting products tailored to their needs and wants. It emphasizes live streaming’s crucial role in engaging customers, a key to business growth. The study also provides viable strategies for businesses to leverage live streaming for growth and customer engagement, underscoring its importance in the business landscape.
