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Behavioral Economic Brings Marketing Strategic Advantages
Contributor(s): Lok, Johnny Ch (Author)

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 ISBN: 179502769X     ISBN-13: 9781795027694
Publisher: Independently Published
OUR PRICE: $79.20  

Binding Type: Paperback - See All Available Formats & Editions
Published: January 2019
* Out of Print *
Additional Information
BISAC Categories:
- Business & Economics | Motivational
- Business & Economics | Industries - General
Physical Information: 0.1" H x 8" W x 10" L (0.26 lbs) 48 pages
 
Descriptions, Reviews, Etc.
Publisher Description:
Chapter FiveConsumption behavior concerns economic enjoyable benefits andcosts comparisonIn behavioral economy view point, in generl, consumers will compare consumption choice to the product or the service whether which will bring more enjoyable benefits to compare other kinds of similar products or services before they decide to buy any product or consume any service need. Why do they have this kind of rational and personal economic benefits and costs comparison need? I shall indicate some cases to attempt to explain as below: In behavioral economic theory, it explains that consumers are economic men in general, economic man makes logical, rational, self-interested decisions that weigh costs against benefits and maximize value and profit to himself/herself. In general, economic man is an intelligent, analytic, selfish creature who pursues his/her future enjoyable benefit goals when he/she feels need to buy any product or consume service. He/she needs to compare how much is the future enjoyable benefits among different similar product manufacturers or service providers to make more reasonable rational consumption decisions to choose to buy the brand of product or consume the service. So, in the choice process, comparison which kinds of product or which kind of service provider which can earn the largest economic benefit to choose to buy the brand of product or consume the service from the product seller or the service provider consequently.This kind of product or service economic benefit and cost comparison to general consumer behavior is explained from behavioal economic theory. For writing book author occupation example, I assume that one author will have five days public holodays, he needs to choose whether he ought write one book to finish it to be published after the end of holidays or he ought choose to spend these five public holidays to go to overseas to travel. The author will compare the economic benefit between writing the book behaviour in the five public holidays and spending the five public holidays to go to overseas to travel.Hence, travelling entertainment enjoyable benefit and publishing the book sale benefit which in the five public holidays activities which will be the author individual choice. However, if the author chose to spend future next five public holidays to go to overseas to travel, he will earn travelling entertainment enjoyable benefit. But, the author needs to pay air ticker expense and hotel living and eating and transportation expense in the whole five days travelling journey. Otherwise, if the uthor chose to spend future next five public five days public holidays time to enjoy whose overseas travelling entertainment as well as he will need to use whose mind and nervous and time to write the book at home hardly. But, the author will have possible to earn much royalty income when he finishs the book to publish to attract many readers to choose to buy the book to read in possible. So, the author will weigh the opportunity loss cost and the opportunity earn benefit between spending the five public holidays to write the book and travelling entertainment activities. Conequently, the author personal and rational future economic benefit comparison will influence whose final decision to choose to do either writing the book behavior or travelling overseas entertainment behavior in the future next five public holidays time.
 
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