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Q. Economic model of consumer behaviour?
Economic model: Economic model of consumer actions is one-dimensional. This denotes that buying decisions of a person are governed by the concept of utility. Being a rational man he will create his purchase decisions with the intention of maximizing the utility.
Benefits
Economic model is on the basis of certain predictions of buying behaviour
(a) price effect-lesser the price of the product superfluous will be the quantity purchased
(b) Lesser the price of the substitute product slighter will be the quantity of the original product bought (substitution effect)
(c) More the purchasing power extra will be the quantity purchased (income effect).
Negotiation of Export Documents under Letters of Credit : Where the exports are under letter of credit arrangements, the banks will negotiate the export bills provided it is drawn
discuss perception of risk is critical to the customer whem making a puchase decision.
Explore the implications of changes in the general and marketing environment for organisations (a) How has the current business and economic climate affected your organisation'
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‘Tots & Teens Fashion' is a small business based in Birmingham, UK. It is owned by Amara and her husband Tariq who started the business 2 years ago. The business supplies a r
Q. Explain Black box model of consumer behaviour? ENVIRONMENTAL FACTORS BUYER'S BLACK BOX BUYER'S RESPONSE Marketi
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