What is WILLINGNESS TO PAY? What does WILLINGNESS TO PAY mean? WILLINGNESS TO PAY meaning - WILLINGNESS TO PAY definition - WILLINGNESS TO PAY explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Willingness to pay (WTP) is the maximum price at or below which a consumer will definitely buy one unit of a product. This corresponds to the standard economic view of consumer reservation price. Some researchers however conceptualize WTP as a range. According to the constructive preference view, consumer willingness to pay is a context sensitive construct, that is, a consumer's maximum WTP for a product depends on the concrete decision context. For example, consumers tend to be willing to pay more for a soft drink in a luxury hotel resort in comparison to a beach bar or a local retail store. Accurately gauging consumers' willingness to pay for a product or service is critical for formulating competitive strategies, conducting value audits, and developing new products. It is also important for implementing various pricing tactics, such as nonlinear pricing, one-to-one pricing, and targeted promotions. Not surprisingly, several approaches have been developed for this purpose. Many methods to measure WTP were presented in the literature. The approaches to measure consumer WTP can be differentiated whether they measure WTP directly or indirectly and whether they measure consumer hypothetical or actual WTP. In practice, some researchers favor the direct approach, asking consumers directly to state their WTP for a specific product through, for example, an open-ended (OE) question format. Others prefer an indirect approach, such as choice-based conjoint (CBC) analysis, in which WTP is calculated on the basis of consumers' choices among several product alternatives and a "none" choice option. However, neither method is foolproof. Many studies have shown that both direct and indirect approaches can generate inaccurate results for various psychological and technical reasons. More fundamentally, both approaches measure consumers' hypothetical, rather than actual, WTP and thus can generate hypothetical bias, which the economics literature defines as the bias induced by the hypothetical nature of a task. A direct approach to elicit actual WTP is a mechanism that Becker, DeGroot, and Marschak (1964) propose (Becker–DeGroot–Marschak method), in which a participant is obligated to purchase a product if the price drawn from a lottery is less than or equal to his or her stated WTP. An indirect approach for determining actual WTP is the incentive-aligned choice-based conjoint (ICBC) analysis, in which participants are also obligated to make a purchase based on WTP inferred from their revealed preference, using the BDM mechanism. With more realistic economic incentives for survey respondents, these two approaches have generated good results in some applications. However, an actual WTP generated with these methods may not always be accurate, because it may differ from the WTP shown in real consumer purchases.
Views: 1086 The Audiopedia
Rajesh Bagchi, associate professor of marketing in the Pamplin College of Business at Virginia Tech, and co-researcher Amar Cheema from the University of Virginia study how red and blue background colors on websites or on the store walls influence consumers' willingness to buy. Their research looked at the impact of color on three settings: auctions, negotiations, and fixed-price settings, such as retail stores. Read the full story: http://www.vt.edu/spotlight/innovation/2013-04-22-consumers/color.html
Views: 32655 Virginia Tech
Transcript: 1 What exactly is consumer surplus? 2 Suppose I want a computer 3 because it gives me a happiness of $700. 4 I go to the market and realize I can buy it at just $500. 5. 6 Woohoo! $200 of net happiness. This is my consumer surplus. 7 On the demand curve, 8 Though everyone pays the same price at $500, 9 different consumers have different willingness to pay. 10 I’m willing to get the computer at $700. 11 It costs only $500. 12 My surplus is $200. 16 Then another guy is willing to pay $600. 17 18 His surplus is lower, at $100. 19 And of course you have a guy who’s only willing to pay $500. 20 21 His surplus is $0. 22 What about a guy who’s willing to pay $400? 23 24 The computer costs $500! No transaction will take place. 25 Add up all these surpluses, this is the total consumer surplus in the market. 26 What about producer surplus? 27 Suppose I produce computers. 28 I want to sell each of these at $300. 29 I go to the market and realize that everyone else is selling these at $500. 30 Happily, I price my computer at $500. Which is cool! 31 I’m expecting $300 but I get $500. 32 That’s $200 extra. 33 On the supply curve, Though everyone sells at the equilibrium price of $500, 34 different producers have different willingness to sell. 35 I hope to sell my computer for at least $300. 36 Sold it at $500. 37 My producer surplus is $200. 38 Another guy wants to sell his computer at $400. 39 40 His surplus will be lower at $100. 41 For a guy who’s wants to sell his computer at $500, 42 43 His producer surplus is $0. Add up all the producer surplus, 44 And you get a triangle area. 45 Add up these 2 triangles, We have the total surplus 46 Also known as the social welfare. 47 All of us know that this is the market equilibrium point. 48 Do you know this is also the allocatively efficient point? Huh? 49 Check out the next video on Allocative Efficiency. 50 If you like this video, remember to like and subscribe. _____________________________________________________ What happens if the equilibrium price is lower than what you, as a consumer, is willing to pay? Do you gain extra happiness? Yeah! Remember? The demand curve is also the marginal benefit. So when price is lower than your marginal benefit, you get 'extra benefit' due to the lower price you have to pay. Different consumers have different willingness to pay. So the lower their willingness to pay, the lower their consumer surplus. For consumers whose willingness and ability to pay are lower than the prevailing market equilibrium price, no transaction will take place. Add up all the individual consumer surplus to get the total consumer surplus. Producers also have different willingness to sell for a very simple reason--the cost of production for different producers is different. Hence, some producers can sell at a lower price while other can't. Remember? The supply curve is also the marginal cost curve. So if the price of the good is higher than the producer's marginal cost, there's a surplus, also known as the producer surplus. Add up the consumer surplus and consumer surplus, you get the total surplus, which is also known as the social welfare.
Views: 57439 Economics Mafia
Sizing done seamlessly. https://getmeasured.app Your customer’s willingness to buy your product is tied to how pleasant their experience is interacting with your store. The more work it takes to find important details, the less likely they’ll buy your items. Measured provides these details as they browse your product images. We’ve included an image zoom and an image slider in the app to create an immersive retail experience. Size charts can be created easily, and merged into an elegant interface for your store. Use Measured now to beautifully provide information to your customers, increasing sales and reducing returns!
Views: 849 Northspring Technologies
Bundling refers to when two or more goods are sold together as a package. Microsoft Office, Cable TV, Lexis-Nexis, and Spotify all provide examples of bundling. What if there were no bundling and you had to pay for Cable TV by channel rather than purchasing channels in bundles? Would you end up paying more or less? We explore this question and others in this video. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1S1vhil Next video: http://bit.ly/1TG9Swb Help us caption & translate this video! http://amara.org/v/GZRb/
Views: 45263 Marginal Revolution University
Quiz: Are you a sucker or a master? https://to.pbs.org/2QntlqB Watch more from Making Sen$e: https://bit.ly/2D8w9kc Read more economic news: https://to.pbs.org/2PNUx19 Asking for someone’s phone number in front of a flower shop will be more successful because the flowers prime us to think about romance. Small, subliminal cues change our willingness to be sold on a product, on ideas or even a date. Economics correspondent Paul Solman speaks with psychology professor Robert Cialdini about his book, “Pre-Suasion,” the crucial step before persuasion.
Views: 1801390 PBS NewsHour
This Video summaries the psychological factors that influence shopping behaviour. MUSIC CREDITS Song Title - "Arecibo Message" BY - Jesse Spillane ALBUM - Art of Presentation Available under the Creative Commons Attribution Attribution 4.0 International (CC BY 4.0) https://creativecommons.org/licenses/by/4.0/ http://freemusicarchive.org/music/Jesse_Spillane/Art_of_Presentation/Jesse_Spillane_-_Art_of_Presentation_-_10_Arecibo_Message https://creativecommons.org/licenses/by/4.0/legalcode NOTE: This video plays the opening of the song (approx 1 min) on loop. OVERVIEW Have you ever wondered what factors influence your shopping behaviour? Did you know that ϖ our assessment of expected product benefits ϖ rational decision making ϖ emotions ϖ heuristics ϖ Our habits ϖ mental accounting ϖ feelings of trust ϖ our general mood ϖ feelings of attachment towards the sale item ϖ ability to pay ϖ the interaction with sales staff ϖ market forces ϖ social influences ϖ The convenience of the sale process ϖ And random factors can all significantly influence whether people are willing to buy a good or service, and if so how much they are prepared to pay. ASSESSMENT OF EXPECTED PRODUCT BENEFITS: There is usually a direct relationship between our willingness to pay and our assessments of perceived value. The more we are convinced that the purchase will fulfil our needs or provide value, the more we will be willing to pay for the good or service. RATIONAL DECISION MAKING: In order to make a rational assessment of a potential purchase we must be able to articulate the key decision making criteria. The rational decision maker would then assess the milk purchase options against each criteria. Finally the rational decision maker would buy the option that best fulfils the decision criteria…if the purchase options fulfil his minimum requirements.. If a product is superior on some criterion but inferior on others, then the rational decision maker must assess which criteria should be give more importance. EMOTIONAL PURCHASING BEHAVIOUR: Emotional states, when compared to rational decision making, allow us to make quicker decision with much less cognitive effort. Marketers strategically seek to associate products with an emotional advertising experiences that will increase the prospect of a purchase. FEELINGS OF ATTACHMENT: Once you are attached to the product, you'll often consider paying a premium to keep the feeling of ownership. Behaviour economists call this phenomenon the “endowment effect”. HEURISTICS: Heuristics allow for quick decisions that are not mentally draining. Some of the rules of thumb we commonly use include: • Purchase the cheapest • Buy the option rated as having the best main feature • Buy the brand with the most attractive packaging • Buy the brand you know • Buy the same brand as last time. HABIT: If we are happy with a brand we have purchased before, then there is always a risk associated with purchasing a new brand. ABILITY TO PAY: We can only buy what we can afford, and nearly all of us face constraints on money available to make purchases. MENTAL ACCOUNTING: Psychological research has found that people rarely assess their overall budget making purchase decisions. Rather people tend to draw upon separate monthly budgets for different types of expenditure. MARKET FORCES Knowledge of market price sets a benchmark for how much we are willing to pay. SOCIAL FACTORS: Our social instincts commonly affect our purchasing behaviour. We often look at what others are buying, and we often purchase what is popular at the time. A social endorsement from a respected figure can also increase our tendency to buy at a premium. TRUST: Sellers with a reputations for providing a consistent quality product will benefit from higher sales. Many sellers offer a return policy to overcome the barriers of buyers concern about quality. We will also be more likely to buy at a premium if we consider the seller to be an expert. CONVENIENCE: No one likes being made to wait unnecessarily, being forced to travel, or being made to spend additional effort in the shopping process. THE SALES INTERACTION: Research has found that we buy more from salespeople that we like and trust. Sales staff who are skilled in making a customer feel important are nearly always more successful, as many people cannot resist paying more when their ego is being stocked. GENERAL MOOD: It has been found that people who are experience a sad mood over a period of time are more likely to buy more when they are out shopping. RANDOM FACTORS: You may be surprised to find out that random factors can significantly influence our shopping behaviour, by anchoring our willingness to pay.
Views: 10923 BusinessPsychologyHub
Mr. Ryan explains how different variables can cause a change in buyers' willingness and ability to buy a product, which leads to a change in demand, which shifts the demand curve, which causes a change in equilibrium price and equilibrium quantity in the market for that product.
Views: 39 Professor Ryan
Here we do a typical homework problem comparing the social demand for public goods with private goods. Looking at the marginal benefits, we determine the optimal amount to buy at each price.
Views: 3946 BurkeyAcademy
The term "consumer" refers to an individual who buys goods and services for personal use. The consumer makes the decision on whether to purchase a product or not; thus the consumer is the target of marketing strategies .Marketers create demand. Demand is the willingness to buy a particular product or service. It is caused by a need or motive.
Views: 293 Guru Kpo
This movie describes what consumer surplus is, and how to calculate it with various changes in price, demand, and supply. More information can be found at: https://www.freeeconhelp.com/2011/09/what-is-consumer-surplus-and-how-to.html To summarize consumer surplus is equal to the area underneath the demand curve but above the market price. Another way to think about it is WTP - market price but you have to do this very every possible transaction (hence the triangle). This area can be thought of as the "bonus income" to the consumers because they get to obtain the good or service they desire at a price much lower than their maximum willingness to pay (hence consumer "surplus"). All of them are super lucky and happy--except for one... but it is still a voluntary transaction! Please comment below, I love when you find something helpful or if you have questions or criticism please feel free to share! Also, if you found this helpful remember to like and subscribe to freeeconhelp's channel: www.youtube.com/freeeconhelp/?sub_confirmation=1 Get Social: *********************** Our website: www.freeeconhelp.com Please like us on facebook at: www.facebook.com/freeeconhelp Follow us on twitter: www.twitter.com/freeeconhelp Below is a summary of the transcript for the video: :03.310, :07.020 All right this movie is going to go over how to calculate consumer surplus :07.020, :10.830 And what happens if we have some common changes in Consumer Surplus? :11.590, :13.179 so first :13.179, :16.438 consumer Surplus is easily calculated by :17.619, :23.849 First drawing our typical graph with price and quantity and then measuring out our demand curve :24.850, :30.930 So in order to calculate consumer Surplus we need this demand curve, and we need some price level :32.980, :34.440 We'll call it P star :34.440, :41.460 And then we need to know what this p upper limit is - because we need these numbers in order to calculate :41.8 , :43.270 Consumer surplus :43.270, :48.329 So consumer surplus is the difference between what you're willing to pay :48.610, :54.569 Which is how we construct this demand curve and what you actually have to pay so for each of these :54.850, :59.399 Consumers that are willing to pay a lot more than the actual price they have to pay 1: .129,1:07.469 So it's that area between the demand curve and the price paid that's going to be our consumer surplus 1:08.140,1:09.909 and 1:09.909,1:16.559 As you can see as long as we have linear demand curves consumer Surplus is going to be a triangle 1:18.640,1:23.430 So you have to know how to calculate the area of a triangle and if you don't I'll tell you it's 1/2 1:24.4 ,1:26.110 base 1:26.110,1:28.110 Times height 1:29.479,1:34.419 so let's go through an example if we're given a 1:35.780,1:38.979 curve so we have our q and p and 1:39.649,1:42.399 Our demand and our price 1:43.369,1:48.519 so what if price is five this upper limit price is 10 and 1:49.310,1:51.519 Our equilibrium quantity is five 1:52.520,1:54.610 Okay, so our formula Says 1/2 1:55.850,2:01.899 Base times height well what's the base here the base goes from 0 to 5? 2:02.720,2:04.720 so our base is 5 2:04.849,2:11.919 What's our height goes from 5 to 10 so our height is also 5 so 5 times 5 is 25? 2:12.799,2:19.209 1/2 times 25 gives us 12.5. So our consumer Surplus would be equal to 2:20.780,2:22.780 12.5 2:23.390,2:29.199 Now let's switch it up a little bit. What if we change we shift this demand curve 2:31.940,2:35.380 So let's say that it now intersects at 8 2:36.980,2:38.980 and 2:39.139,2:44.379 Price is still at 5. So this is our demand curve before 2:46.609,2:48.470 5 2:48.470,2:54. 9 Let's call this 3. This is our demand curve before for some reason it shifts left 2:54.010,2:56.590 And this is our new consumer Surplus 2:57.560,3:03.729 How do we calculate the area of that well it's going to be 1/2 times Base 3 3:04.069,3:07.988 Times Height 3 so our new consumer Surplus is 3:09.139,3:15.039 going to be 4.5. So if they ask us to calculate the difference in Consumer Surplus 3:15.560,3:21.130 It's going to be 12 point 5 minus 4 point 5. What is that going to give us? 3:22.430,3:29.260 8 so really to solve these problems all you have to do is shift that curve know what the values are 3:31.190,3:36.939 Calculate the areas of the triangles and then subtract one from the other to find the difference 3:40.070,3:42.070 you can also 3:42.180,3:45.950 Have a situation where the price increases 3:47.490,3:49.490 So if you have Q and p 3:51.9 ,3:53.9 Let's do 10 3:54.480,3:56.480 That's our demand curve 3:56.910,3:58.910 we have a p of 3:59.310,4:01.110 5P star 4:01.110,4:06.230 Or equilibrium quantity is 5 we know what the area of that is but now let's increase 4:07.050,4:08.220 our 4:08.220,4:09.510 p 4:09.510,4:12.739 Star Star, we'll call it to 7
Views: 301306 Free Econ Help
Purchase intention definition mba skool intentions to buy as predictors of buying behavior by susan p what is purchase intention? Definition and meaning jstor. Purchase predicting consumer purchase intention a discriminant analysis approachabstract. An intent to purchase real estate letter gives you an outline of the prospective 18 may 2017 concept intention is rooted in psychological and extensively used behavioral studies (dodd & supa, 2011). The study aims to determine the preferred citation for this publication is vintentions and their behavior, foundations trends. Keywords auto show, intention, sem, tpb. The indian retail space is seeing a gjmbr b classification jel code d11. However, as the main objective of this study is to understand behavior ecological consumers and their intention purchase organic food. Investigating the drivers of consumer intention to buy manufacturer behavior and purchase for organic food journal consumers' intentions their now publishers. The first factor is the attitudes of others buying real estate a big decision, so it's important to get every step in writing. Intent to purchase real estate letter (with sample) rocket lawyer. Measuring the purchase intention of visitors to auto show. Journal of branding literature indicates that consumers buy branded products because they expect higher quality compared with non. Predicting consumer purchase intention a discriminant nmims. Intention to buy counterfeit productsthe sport journal. The willingness of a customer to buy certain product or service is known as purchase intention. Theoretical foundations of purchase intention uk essays. Purchase intention of foreign products sage journals. Strictly as per the compliance and regulations of factors influencing consumer's intention to buy counterfeit 31 jan 2014 attitude also positively influenced buying for sport product. R in marketing, vol 7, no 3, key words ibspurchase behaviour; Purchase intention qualifier purchase, and is referred to as purchase (howard sheth, 1967) this article, we'll explore ways means of measuring intent different mechanisms we can use reduce cognitive stress foreign products, intention, image country origin, brand image, religiosity, ethnocentrism bangladeshi consumers' intentions surveys consumer buy are inefficient predictors rates because they do not provide accurate estimates mean probability. A study of consumers' attitudes and intention to buy organic foods consumer's purchase decision slideshare. Purchase intention is a dependent variable that depends on several external and internal factors purchase intentions continue to be an important concept in marketing. Googleusercontent searchdouglas and yoram wind (1971), 'intentions to buy as predictors of buying behavior', in sv proceedings the second annual conference definition purchase intention a plan particular good or service future. Qualifying purchase intentions using queueing theory journal of measuring intent a funnel approach questionpr
Views: 62 crazy sparky
Visit Anik Singal's website: http://AnikSingal.com http://www.successweekly.com - Save Your Free Seat Now! Disappointment will never overtake your goals if your conviction to succeed is strong enough and you have the willingness to learn today! In the modern global village, new technologies are emerging every day. Recent innovations ranging from wearable digital devices to state of the art electric cars running on the more obscure discoveries of Nikola Tesla have only exacerbated the matter. And it seems as if the near constant shifts in technology are becoming a normal part of every day life in the 21st century. Of particular note, is the global telecommunications network and the internet itself, which is slowly but steadily connecting the entire planet into a sort of larger whole, enabling people across the globe to interact in ways nobody expected a mere 20 years ago. Still, with this onslaught of telecommunications technology comes new opportunities for those with the gumption to grab them and seize them for themselves. Millions of people across the planet are using these technologies to set up cottage industries, selling whatever they have in abundance, whether it's a collectibles dealers on an online auction site or an artist selling their paintings for good prices to a global audience that appreciates their work. Some of these endeavors are cooperative endeavors that can create commercial groups spanning multiple continents, while others are personal affairs, done as much for personal fulfillment as personal profit. Still, for most people, the main upsurge of the internet has been in the field of marketing. With such a vast communications network where literally any idea can be spread for next to no money in less time than ever before, the implications for marketing are obvious. Many people have taken to a range of marketing efforts online, whether it's as the employees of a company, affiliates of a company or just for their own personal private industries. Among the best tools in this ever more complex world of search engines, social media and email are Anik Singal products. Anik Singal products are a line of online marketing products from Anik Singal Profit Academy. Intended to teach people the skills they need to start their own email marketing campaigns, capable of sustaining several separate businesses across multiple fields of interest. The email marketing techniques the academy teaches can be used to sell virtually anything, from time share vacation resort homes to niche interest DVDs or collectible toys. What one does with what they learn from these products is of course up to them, but the techniques are extreme versatile. The main product offered by the academy is access to its full depths of articles and educational videos relating to the field of online marketing. These videos, taught by Anik Singal and other successful e-commerce entrepreneurs, contain hours of footage containing valuable information for any would be internet marketer to study intently. The texts of the website are just as valuable, teaching important online marketing techniques, with a special focus on email marketing. One of the company's free products is actually a ten-step guide towards transforming email marketing into a way to sustain several online businesses. And while results will vary, the dedicated find this information very helpful. Buy Online Marketing Tools From Anik Singal Products - Setting Your Goals High : https://goo.gl/mBpbhu
Views: 562 Lavera Noble
While marketing, promotions, and price changes affect future sales, shopper behavior is also driven by numerous external factors. Wages, cost of fuel, sentiment, and online search trends can impact the shopper's willingness to buy, but are factors beyond a company’s control. Nonetheless, they can be analyzed and included in your research plan. Prevedere helps retail companies by constantly monitoring global activity and identifying future changes to consumer demand. By using Prevedere, retailers can improve daily product decisions with reliable forward-looking insight. Prevedere enables retailers to better: Discover the hidden drivers of product or category demand Quickly identify the most influential economic and consumer behavior factors for each category as well as their lead times. By combining this with an internal promotion, product distribution, and advertising activities, brand teams can gain deeper insight on past sales wins and misses. Validate category growth plans Retail companies can leverage Prevedere’s Demand Planning solution, along with syndicated data, to generate long-term demand forecasts that incorporate the most predictive leading indicators. These reports are constantly updated as economic and consumer activity change. Maximize ROI on marketing spend Retail marketers need to commit to marketing and promotional spend over a year in advance. Prevedere can show when demand is weakest up to 24 months in the future. Armed with this insight, marketers can allocate budget to the months and regions that need it most.
Views: 233 Prevedere
Firm's Equilibrium फर्म का संतुलन https://youtu.be/Vm8SbR6QhWs What Is Market Cournot’s definition – the French economist Cournot defined a market thus “economists understand by the ‘market’ not any particular market place in which things are bought and sold but the whole of any region in which buyers and sellers are in such free intercourse with one another that the prices of the same goods tend to equality, easily and quickly.” 2. According to Jevons – “originally a market was a public place in a town where provision and other objects were exposed for sale, but the word has been generalized so as to mean anybody or persons, who are in intimate business relation and carry on extensive transaction in any commodity. 3. As chapmen has said – “the term market refers not necessarily to a place but always to commodity or commodities and the buyers and sellers of the same who are in direct competition with each other.” 4. According to prof. Benham – “we must therefore, define a market as any area over which buyers and sellers are in such close touch with one another either directly or through dealers that the prices obtainable in one part of the market affect the prices in other parts.” What is market. Meaning of perfect competition. Characteristics or assumptions. Short-run firm equilibrium under perfect competition. Economic profit, losses, and normal profit earned by firm under perfect competition. Shutdown conditions of firm. Long-run firm equilibrium under perfect competition. Meaning of Market: In common parlance, by market is meant a place where commodities are bought and sold at retail or wholesale prices. Thus, a market place is thought to be a place consisting of a number of big and small shops, stalls and even hawkers selling various types of goods. In Economics however, the term “Market” does not refer to a particular place as such but it refers to a market for a commodity or commodities. It refers to an arrangement whereby buyers and sellers come in close contact with each other directly or indirectly to sell and buy goods. What is 'Perfect Competition’ Perfect competition describes a market structure where Competition is at its greatest possible level. Perfect competition is the Opposite of A monopoly. Pure or perfect competition is a Theoretical market structure. Ideally, perfect competition is a Hypothetical situation which cannot possibly exist in a market. perfect market is the subject of General equilibrium. Assumptions A large number of buyers and sellers – A large number of consumers with the willingness and ability to buy the product at a certain price, and a large number of producers with the willingness and ability to supply the product at a certain price. Homogeneous products – The products are perfect substitutes for each other, (i.e., the qualities and characteristics of a market good or service do not vary between different suppliers) Perfect information – All consumers and producers know all prices of products and utilities each person would get from owning each product. No barriers to entry or exit Perfect factor mobility – In the long run factors of production are perfectly mobile, allowing free long term adjustments to changing market conditions. Every firm is a price taker – It takes the price as decided by the forces of demand and supply. No firm can influence the price of the product. Normal Profit earned by sellers – Each firm earns normal profits and no firms can earn super-normal profits
Views: 17492 Know Economics
Market demand 8 important elements of market. Market demand? Definition and meaning q&a what is market What business jargons. Generally think of demand as your willingness to go out and buy a certain product. Within a specific marketing environment under clearly defined levels of expenditure and effort 4 jul 2017 definition demand in economics is how many goods services are aggregate demand, or market another way saying series various quantities product service that consumers given able willing to purchase collectively at each economics, schedule tabulation the quantity good all will any price. What is market demand? Definition and meaning investor wordsthe demand curve definition, equation & examples video difference between individual what meant by Youtubemarket in the cambridge english dictionaryallbusiness. Market demand is calculated to determine at what level learn more about market in the boundless open textbookthe summation of individual quantities that consumers are 16 jun 2015 curve, and how it derived? This lesson will explain concept a curve show you one while term somewhat vague, can be represented by point view person, single family, or household 2steps for analysis infoanalytica parameters this need defined, because otherwise, our opinion, always, if analyzed meaning, definition, all possible customers particular product service over definition. For example, market demand is the total of what everybody in wants philip kotler for product volume that would be bought by a defined customer group geographical area individuals commodity amount which consumer willing to purchase at any given price over specified period it graphically represented negatively sloped curve, term 'market demand' often used synonymously with 'demand excess definition dictionary, free online pronunciation (economics) situation. Individual's and market demand for a commodity definition amosweb is economics encyclonomic web pediadefine excess at dictionary. Market demand? Definition and meaning definition of market demand the aggregate demands all potential customers (market participants) for a specific product over period in 1 may 2009 is quantity good or service that consumers theory, level at range prices can be shown business students as they complete fourth term their two year linear course total amount goods services are willing able to purchase price marketplace refers sum individual individuals buy whole. What is demand definition, explanation, effect the balanceexample xplainddemand investopedia.
Views: 8 Caren Raatz Tipz
While marketing, promotions, and price changes affect future sales, consumer behavior is also driven by numerous external factors. Wages, cost of fuel, sentiment, and online search trends can impact the consumer’s willingness to buy, but are factors beyond a company’s control. Nonetheless, they can be analyzed and included in your research plan. Prevedere helps CPG companies by constantly monitoring global activity and identifying future changes to consumer demand. By using Prevedere, CPG companies can improve daily product decisions with reliable forward-looking insight. Prevedere enables CPG companies to better: Discover the hidden drivers of category demand Quickly identify the most influential economic and consumer behavior factors for each category as well as their lead times. By combining this with an internal promotion, product innovation, and merchandising activities, brand teams can gain deeper insight on past sales wins and misses. Validate category growth plans CPG can leverage Prevedere’s Demand Planning solution, along with syndicated data, to generate long-term demand forecasts that incorporate the most predictive leading indicators. These reports are constantly updated as economic and consumer activity change. Maximize ROI on marketing spend CPG marketers need to commit to marketing and promotional spend over a year in advance. Prevedere can show when demand is weakest up to 24 months in the future. Armed with this insight, marketers can allocate budget to the months and regions that need it most.
Views: 312 Prevedere
Alex Del Cielo reflects on a First Insight testing example that enabled his staff to cut a product from their assortment that would have underperformed, highlighting the importance of avoiding losing products. First Insight allows merchants to make data-driven decisions, learning how consumers will react to a product in terms of price, sentiment and willingness to buy.
Views: 145 FirstInsight1
If you want to increase your AdWords campaigns' effectiveness, you need a way of optimizing AdWords to measure meaningful customer behaviors. In the absence of more appropriate metrics, smart goals can be used to track consumer behaviors that equate to prospective customers moving down your lead funnel, indicating a willingness to buy your product or service. This 5 minute video give you the basics.
Views: 1003 PPC Rainmakers
Think you aren't being fooled by advertising tricks? Take a look at this so-called expert revealing food marketing's secret weapon. No amount of marketing makes factory farming acceptable. You can stop the spin at http://www.ciwf.org.uk/truth ------------------------------- This film was created by Catsnake (catsnake.com) for Compassion in World Farming (CiWF – ciwf.org.uk). For more information, please visit: ciwf.org.uk/truth We would like to give a big thank you to all those who helped with the project and the individuals who assisted in bringing the project to life: Cast: Actress: Kate Miles Crew: Director: Edward L. Dark Writer: Stephen Follows Producer: Lucy Fazey Executive Producers: Stephen Follows & Edward L Dark Editor: Rob Garwood Casting Director: Annelie Powell Production Designer: Jenny Ray Graphic Designer: Vincent Chatell Stage Manager: Gareth Weaver Costume: Giulia Scrimineri Camera Operator: Steve Brook-Smith Camera Operator: Anthony Gurner Camera Operator: George Simpson Sound Recordist: Sean Plunkett Production Assistant: Lauren Allen On Set Runner: Jessica Zuniga Speakers and Performers: Host: Tom Allen Paleoanthropologist: Ella Murray Astrophysicist: Ricarda Beckmann Burlesque Dancer: Scarlette Belle Shot on Location at: The Yard Theatre in Hackney Wick
Views: 9036909 Compassion in World Farming
How do increases or decreases in demand affect the demand curve? An increase in demand means an increase in the quantity demanded at every price. Similarly, a decrease in demand means a decrease in the quantity demanded at every price. This video takes a look at some important factors that shift the demand curve, such as changes in population, changes in income, prices of substitutes, and changes in taste. We’ll look at real-world scenarios that cause a change in demand — like how the demand for batteries increases when a hurricane is expected, how our demand for inferior goods decreases when our income increases, and how the demand for hot dogs increases when the price of the complement, hot dog buns, decreases. Microeconomics Course: http://bit.ly/20VablY Ask a question about the video: http://bit.ly/1T7fsbg Next video: http://bit.ly/1Q0DQXX
Views: 292448 Marginal Revolution University
In this video I show you how to buy a used car. I will go over some theories that I have come up with through many years of of negotiating prices. In this video I will mainly cover the financial part of buying a used car. I will teach you a 3 step process that will help you negotiate better prices on virtually anything. Step #1 is called do your homework. You want to research the current market value of the car. Search what the competition is selling similar cars for. This is the most importaint step since you must know your product before you begin to negotiate it. You may begin by Giving the owner of the car a phone call and ask him a few questions: are you the original owner? Why is are you selling the vehicle? Have you ever had any mechanical problems with the vehicle? Has this vehicle ever been involved in a car accident? These steps are important because you want to have as much information about the car so that you can establish a maximum price that you are willing to pay for the vehicle before you even go out and look at the vehicle. Establishing the maximum price will make sure your emotions don't get in the way of you making a rational financial decision when purchasing the car. If you don't get the car at the price that you want you have to be able to walk away and keep looking. Remember this is not the last car in the world. There is plenty of fish in the sea. Step #2 is called test the seller- After you visit the car you begin by testing the sellers willingness to sell and negotiate. You do this by asking him a simple question: "what is the best possible price that you are willing to give me". Let me give you an example so that you get a better understanding. Let's say you go view a car that is for sale at $10,000, Instead of testing the seller you decide make an offer right away at your maximum price of $9500. Let's say the seller accepts your offer at $9500. In this example, He's happy since he sold it very quickly and you are happy since you got $500 off the original price. However, how do you know the seller was not willing to take $9000 for the car? Or Even $8500. You don't!! And you'll never know. On the other hand let's say you ask him the magic question: "What is the best deal that you are willing to give me?" let's say he said $9500. In this scenario you have established two things. 1.) he is willing to negotiate and 2.) You have established his willingness to sell. Scenario #2 is going to make it easier for you to negotiate the price since you didn't bring the price down, he brought the price down. Step #3 is called make a lowball offer. In this step you will be making a low ball offer after you have negotiated his willingness to sell. My theory behind the low ball offer is that for some reason prices always meet somewhere in the middle. The higher your original offer starts, the less room for negotiations there is. For Example, let's say the seller has already brought down the price to $9500 and you make your offer at $9000. In this scenario you only have room to negotiate $500. If prices meet somewhere around the middle you will more than likely end up paying somewhere around $9250. On the other hand let's say you make your offer at $8000. In this case you have room to negotiate $1500. If my theory is correct and prices meet somewhere in the middle you will end up paying somewhere around $8750, worst case scenario you will pay $9000. It is important to understand that when I say low ball offer it must still be reasonable but low since you do not want to get the seller upset. By using these 3 steps I have negotiated prices on stereos, rims and cars. If you follow these 3 easy steps you can save a lot of money when negotiating prices. Remember the steps to remember are: Do your homework, test the seller's willingness to sell and finally make a low ball offer. Good Luck!!
Views: 4457 Jose Luiz Morales Group - Realtor
Mastering sales will set you free by giving you the skills to bring cash flow in to grow fast. If you can't get someone interested or over the line who wants to buy your product or service, then you won't make money and money is oxygen for business. The biggest challenge most people have when it comes to selling, they come into the sales environment with this lack, desperation or neediness. So what can we do to eradicate it quickly to increase the probability of having a good connection? There are three things you can do... #Sales #WantNothing #Strengths #Willingness Facebook: https://www.facebook.com/kerwinrae/ Instagram: https://www.instagram.com/kerwinrae/ Twitter: https://twitter.com/kerwinrae Linkedin: https://au.linkedin.com/in/kerwinrae Website: http://www.kerwinrae.com/
Views: 15090 Kerwin Rae
Many marketers think the customer journey starts when the brand makes contact with the customer through some type of advertising or promotional effort. But the customer journey starts long before customers even recognize any desire to investigate your product category as a potential solution to their needs. Various experiences, or situations, or even micro-moments occur during people’s lives that lead them on a path either toward or away from desiring something in your product category, not to mention desiring your particular brand. This same customer journey travels on far past your customers’ final purchase and even past their final use of your product. Their willingness to speak favorably or negatively, or even speak at all, about your brand can be a powerful factor in the success of your marketing efforts for years after the person no longer is a viable customer. Think about parents who used to buy all sorts of “baby” products, but then “grow out” of that stage, potentially never to enter that market again. Yet their opinions of those products and brands can span a lifetime of advice to other new parents who are at the buying points of their customer journeys. The task for marketers? Gain a comprehensive understanding of your customers’ various journeys, and you’ll be much better equipped to satisfy them and truly create customers for life. **Be sure to subscribe to my channel so you don't miss any future episodes of Monday's Marketing Minute, where you’ll learn about: - Marketing Strategy and Tactics - Brand Development - Personal Branding and Professional Branding - Marketing Yourself - Marketing Leadership - Self-Improvement - and whatever relevant and related topics come our way. **Also, connect with me on any of the following: LinkedIn: https://www.linkedin.com/in/anthonymiyazaki Twitter: https://twitter.com/sensiblefolk Instagram: https://www.instagram.com/sensiblefolk/ YouTube: https://www.youtube.com/AnthonyMiyazaki
Views: 25389 Anthony Miyazaki
**Try out an award-winning Formula Botanica course by taking our free sample class: https://www.formulabotanica.com/sample-class** Knowing how to price your skincare products is one of the most important factors in getting a viable beauty business off the ground. You're passionate about natural skincare formulation, but are you guilty of shirking the numbers? It's all too easy to get our heads in the pot enjoying making skincare but forget the nuts and bolts of running and growing a business, such as profit, retail and wholesale margins. Spreadsheets not just formulae sheets should be your number one priority once you've decided to make a serious business out of your skincare products. To help talk you through the numbers and how to factor enough wiggle room into your margins, we welcome a familiar face in the skincare business world, Melinda Coss. A several times entrepreneur and pioneer in the natural beauty industry, and experienced skincare business mentor, Melinda walks us through the most important things to think about in pricing skincare products. She takes us from working out the unit cost of products to the percentages retailers and distributors might expect and which you have to factor in. We don't speak accounting jargon but we do recommend hitting replay so you can take down notes as Melinda packs in a lot of advice for new skincare entrepreneurs. This episode is a goldmine if you're currently doing back of the envelope or worse, finger in the wind accounting in working out how to price your skincare products. So get your notebook open, and dust off your ability to do percentages. However, don't worry as you're in good company; Melinda has run and sold several successful businesses and says that with some help, savvy and willingness to learn, the number crunching can become second nature. In this episode, you'll learn: -Why working out your reasons for wanting to run a skincare business are key to understanding what profits you wish to make, or, simply put, why your mindset makes your market; -How your branding and your brand's positioning in the market are critical to determining how to price your products at a level that meets consumer expectations; - Why natural and organic skincare is rarely cheap; -How a 'time and motion' analysis of every cost aspects of your activities in producing products will give you the insights on which to base pricing; -and Find out how and when it makes sense to run discounts and other incentives like 'buy one, get on free', or to offer free shipping. Melinda doesn't talk in abstract terms. She runs through some ballpark percentages that you should be aiming for when working out how to price skincare products and gives examples of other key facts and figures you need to know to run a business. Key takeouts about how to price your skincare products include: -Take time to work out what you wish or need to earn from your business in its first year. On that basis, you can make the financial and production forecasts required; -Work out in minute detail your unit costs, not forgetting to factor in your hourly rate and everything relating to packaging down to the sellotape! Then, add on 70% and you'll arrive at your base trade costs. After that, add on 7% for contingencies so you ensure you have some leeway for costs you've not envisaged up front; -and Remember that your figures are your most important tool. Business is about making money whatever the passion that lies behind it. Find Melinda Coss here: Website: https://www.melindacoss.com/ Facebook: https://www.facebook.com/groups/MelindaCossMastermind/ Twitter: https://twitter.com/melindacoss Listen, Download and Subscribe to Green Beauty Conversations Thank you for joining us for this episode of the Formula Botanica: Green Beauty Conversations podcast. If you enjoyed this episode, please share, subscribe and review on iTunes or Stitcher so that more people can enjoy the show. Don’t forget to follow and connect with us on Facebook, Twitter and Instagram.
Views: 1151 Formula Botanica
I think Bitcoin Cash Satoshi's Vision is surprising people with their willingness to sacrifice huge sums of money ($280k/day) to win this battle. They have nearly 50% of the hash rate right now, and climbing. There is an awesome Star Wars themed page for this Hash Wars saga that is playing out. VeChain and H&M are working together to track the provenance of H&M products in the Arket brand. TRON has announced a $1M pot of money set aside for dApp development. The program is called Accelerator. ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ ► Business Email: [email protected] Useful Links Mine Cryptocurrencies: https://cyberianmine.de/ref/skrilla25 Proud Ambassador Of Dacxi: https://dacxi.com/ Discuss Crypto with Me ►►https://skrillaking.com/discord Buy Bitcoin, Get $10 ►►https://skrillaking.com/coinbase Buy Cryptos on Binance ►►https://skrillaking.com/binance My #1 Hardware Wallet ►►https://skrillaking.com/ledger ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Social Links ► Twitter: https://twitter.com/SkrillaKingReal ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ DISCLAIMER: Only invest what you can comfortably afford to live without, and consult a qualified financial advisor if you’re serious about investing. The content of these videos is meant to be informative and entertaining and should not be construed as financial advice, a guarantee of returns, or an official endorsement of any company, party, platform, agent, etc. unless otherwise explicitly noted. #Bitcoin #Blockchain #crypto
Views: 1108 SkrillaKings
The next avocados you buy at a grocery store might stay fresh at least twice as long as they used to, and it’s all because James Rogers didn’t listen to his mother. » Subscribe to CNBC Make It.: http://cnb.cx/2kxl2rf Rogers is the founder and CEO of Apeel Sciences, a Southern California-based food technology startup that is trying to battle food waste. Rogers’ Apeel, recently named to the 2018 CNBC Disruptor 50 List, thinks it can combat the problem with its primary product, a tasteless, odorless, edible coating made from plant materials. Apeel can keep produce like avocados or oranges from going bad for weeks longer than usual — it can double the shelf life in some cases — even without refrigeration. The point of the Edipeel coating is, simply, to act as a physical barrier that slows down the evaporation process and regulates how much oxygen gets into produce. And because Apeel makes its invisible coating out of the fatty acids and other organic compounds taken from the peels, seeds and pulp of other fruits and vegetables, the FDA has deemed it safe to eat. Avocados sprayed with Edipeel are already being sold at grocery stores like Kroger, Costco and Harps Food Stores across the U.S. “Our philosophy is: The only thing that belongs on food is food,” Rogers tells CNBC Make It. Rogers founded Apeel in 2012 and the company has raised a total of $110 million in funding from investors who include the Bill & Melinda Gates Foundation as well as investment firms Viking Global Investors and Andreessen Horowitz. Rogers, 33, got the idea for Apeel when he was working on his Ph.D. in materials science at UC Santa Barbara. Rogers started researching how water loss and oxidation spoil produce, and it reminded him of how the steel industry uses coatings to prevent metal from rusting. He thought he could come up with a similar solution to coat produce and prevent fruits and vegetables from spoiling so quickly. It was kind of a wild idea, especially considering Rogers had no agricultural experience, which is exactly what his mother told him when he called her and explained his idea for fighting world hunger by inventing a protective coating for produce. He was able to flesh out his idea and apply for a research grant from the Bill & Melinda Gates Foundation, which gave him $100,000 that marked the beginning of Apeel. Rogers hired two researchers he knew from his Ph.D. program and they got to work developing the product that would become Apeel. Six years later, Rogers has legitimate hope that Apeel can make a real difference in fighting the global hunger epidemic. Apeel’s business is starting to take off thanks to selling the coating to major fruit and vegetable producers like Del Rey Avocado, Horton Fruit and Eco Farmsand, and partnering with U.S. retailers (who currently lose more than $18 billion a year due to wasted food). But, Apeel is also working with farmers in Kenya and Nigeria, where Edipeel is awaiting regulatory approval, in order to help them keep their produce fresh long enough to be transported from rural areas to larger markets where they can feed the local population. At the moment, Apeel’s coating is only being sold on avocados, but the company is also working on selling it to produce growers to use on asparagus and various citrus fruits, among other produce. (The Apeel formula differs for each variety of fruit or vegetable.) Looking back now, Rogers can chuckle at the fact that his mom initially threw cold water on his produce plans. But, he says there’s an important lesson in that story. “Don’t not do something because there’s a part of it you don’t know about,” he tells CNBC Make It. Instead of giving up because you’re not fully versed on something, even if it’s a major aspect of what you want to do, you can just commit to learning more and filling in those gaps in your knowledge, Rogers says. “It’s oftentimes the combination of the stuff that you know about and the willingness to learn the stuff that you don’t know about which leads to some really cool innovations.” About CNBC Make It.: CNBC Make It. is a new section of CNBC dedicated to making you smarter about managing your business, career, and money. Connect with CNBC Make It. Online Get the latest updates: http://www.cnbc.com/make-it Find CNBC Make It. on Facebook: http://cnb.cx/LikeCNBCMakeIt Find CNBC Make It. on Twitter: http://cnb.cx/FollowCNBCMakeIt Find CNBC Make It. on Instagram: http://bit.ly/InstagramCNBCMakeIt Find CNBC Make It. on LinkedIn: https://cnb.cx/2OIdwqJ #CNBC #CNBCMakeIt #Apeel This Bill Gates-backed start-up is fighting world hunger by making your avocados last longer | CNBC Make It.
Views: 3705 CNBC Make It.
US Arm Twists India to Buy Patriot-3 Systems And Not Russians S-400 Late last year, the Iran-supported Houthi rebels in Yemen fired a Burqan-2 missile (a Scud variant) aimed at the international airport in Riyadh some 600 miles to the northeast. The missile got to its target alright but due to the strains in the metal canister induced by the flight, blew apart with the debris littering parts of the runway and the road outside the airport. The Saudis, however, claimed that they had fired five Patriot advanced capability (PAC-3) interceptor at the intruder and had destroyed the Houthi Burqan. US President Donald Trump visiting Saudi Arabia not long after that event crowed, “Our system knocked the missile out of the air. That’s how good we are. Nobody makes what we make, and now we’re selling it all over the world.” Trump is a loud, less than, credible snake oil salesman at the best of times. As promoter of the PAC-3 he is eminently ignorable, as is any US official urging friendly countries to buy this air defence system whose worldwide publicity is far better than its performance. Except, and this is a kicker, an analysis by air defence experts of the debris distribution and of the parts of the Burqan system that the Saudis proudly displayed days after the attack, came to the conclusion, as reported in the American press, that the incoming missile had come apart by itself at the end of its trajectory and, more shocking still to Trump Admin officials, the Pentagon, and Raytheon — the maker of the Patriot, that all the five PAC-3 interceptors the Saudis fired had missed the target! Last month Tina Kaidanow, principal deputy assistant secretary of the US State Department’s Political-Military Affairs Bureau, came to Delhi on a triple-pronged mission — to press Delhi to sign the remaining two “foundational” agreements — COMCASA and BECA as follow up to the LSA; and to prevent India signing up to buy the Russian counterpart of the PAC-3, the S-400, for $5 billion; and to persuade the Modi government to buy instead the American product, PAC-3, that doesn’t work. While Kaidanow’s visit wasn’t reported by the Indian media, External Affairs Minister Sushma Swaraj’s statement that India would go in for the Russian item even if it attracted US sanctions under the 2018 Countering America’s Adversaries Through Sanctions Act, was. Apparently, the US State Dept official’s muffled threat of CAATSA did not work, nor did it “engender a willingness” on the part of the Indian government to think about the US PAC-3 system as replacement. And as regards COMCASA and BECA she was told nothing she could be reassured by. “As a function of trying to move the defense relationship forward — and certainly the defense trade relationship — it is important that those foundational agreements are considered by the Indian government, they are acted on hopefully as expeditiously as possible,” Kaidanow told the Washington defence media. “Of course it is their sovereign right to decide on these things, but our hope is that we have presented to them some good options and some ways forward. Hopefully we can make some progress in that relatively soon.” And pertaining to the F-16 and perhaps also the PAC-3, she said “American defense product is great product — it is the best in the world. It’s central that countries really think about when they acquire these things — and particularly when we’re talking about important systems … — that they think about the quality and the interoperability piece and all of the things that we know come with the acquisition of American products.” Kaidanow is right. Buying military goods from the US comes with lot of attached baggage and just too many do’s and don’t’s, inclusive of the uncertainty attending on the spares supply, which can be stopped at any time on Congressional whim and an Administration’s fancy. And worst of all, the PAC-3 does not work as advertised. Whether Prime Minister Narendra Modi is convinced about the cons outweighing the pros or not, the political scene at home tilting against him suggests his government is unlikely during the remainder of its first term at least to sign any accords, or buy anything big from America, let alone nix the S-400 deal, go in for the PAC-3, and permanently turn Russia into an enemy.
Views: 1562 Indian Defence News
Jens Hainmueller explains his real-world research, based in US grocery stores, into whether consumers are really willing to pay more for fair trade certified coffee. Hainmueller is associate professor of political economy (by courtesy) at Stanford Graduate School of Business. Read Jens Hainmueller's paper about consumer demand for the fair trade label: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1801942 Learn more about associate professor Hainmueller: http://www.gsb.stanford.edu/faculty-research/faculty/jens-hainmueller
Views: 4107 Stanford Graduate School of Business
Behavioral economics is a method of economic analysis that applies psychological insights into human behavior to explain economic decision-making. While it’s not actually this grim, It has broad use in marketing to target consumers irrational behaviors in order to achieve the desired outcome. For example, What deal are you more likely to respond to? buy one get one free or buy 2 and get 50% off? They are the same deal! And yet most will often choose the first because people love the word “free” - studies show the word “Free” releases large quantities of dopamine in our brain to make us feel happy, and we end up responding irrationally. This is behavioral economics. Behavior outside the rational expectations explained by economics. So how is it done? Psychological theories are applied to purchasing behaviors and marketers use those theories in an effort to influence consumer behaviors. Let’s look at some examples. Starbucks uses a process called anchoring - the process of planting a thought in a person’s mind that will later influence their actions - to convince people to buy a copy of coffee at a much higher price than competitors. Starbucks differentiates itself by a unique store appearance or fancy coffee names - neither of which affect the actual cup of coffee - but the association creates a higher willingness to pay for the exact same cup of coffee. Maybe you’re thinking “I like Starbucks coffee better than Dunkin Donuts because it tastes way better” You may be right… or maybe they’ve just effectively anchored you. Here are a few other marketing applications. Suggesting something is in scarce supply makes us want it more. Remember supreme? Sensory priming plays off the 5 senses, Like, playing music while you shop; a wine shop found if they played French music they sold more French wine. But when they played German music, they sold more German wine. Another method is to remove “pain” points or signposts - people don’t like spending money, but they do like buying new things: Studies have shown that by removing the ($) on menus increase average spending by 12% We also hate losing stuff - Loss aversion is almost 2x as influential as possible gains Losing 10$ hurts more than the pleasure of gaining $10 Let’s explore how behavioral economics is used looking specifically at social reinforcement and loss aversion. Social reinforcement is a commonly used practice that shows celebrities and/or well-known companies that use a particular product or service. Examples include Collin Kaepernick with Nike, Steph Curry with Under Armour, displaying customer logos on your website, using stats like 9 of out 10 people save money when they switch to our insurance company, etc. These marketing campaigns carry social weight that can change how people buy your products. Nike has been very successful with this marketing approach with a large portion of its customers making purchases because well-known athletes or celebrities promote the product. Loss aversion is another popular behavioral economics topic for marketers. As mentioned earlier, consumers hate to losses twice as much as they enjoy gains. Framing maketing campaign and materials in terms of loss rather than gain can have a big impact. For example, a doctors office gave patients nearly identical brochures on breast exams. The only difference was that one brochure emphasized the gains of the exam while the other emphasized the negative outcomes of not performing the exam. Framing the exams in terms of loss led to greater action and more positive attitudes towards the exams. Loss aversion also shows up frequently in e-commerce with wording like “buy in the next hour and save” or “only 5 of this item left.” Customers don’t want to miss those opportunities. Images from Wikipedia
Views: 15 VirgilARicks
This might be my Magnum Opus. Please see my comments below with regards to reports the video was partially faked. Go to https://NordVPN.com/MarkRober and use code MARKROBER to get 75% off a 3 year plan and an extra month for free. My buddy Sean posted a video with more details of the build: https://youtu.be/IpMxOmUcfOI Note about 2 missing the reactions in the video (I posted this on all my social channels immediately after it happened)- I was presented with information that caused me to doubt the veracity of 2 of the 5 reactions in the video. These were reactions that were captured during a two week period while the device was at house 2 hours away from where I live. I put a feeler out for people willing to put a package on their porch and this person (who is a friend of a friend) volunteered to help. To compensate them for their time and willingness to risk putting a package on their porch I offered financial compensation for any successful recoveries of the package. It appears (and I've since confirmed) in these two cases, the “thieves" were actually acquaintances of the person helping me. From the footage I received from the phones which intentionally only record at specific times, this wasn’t clear to me. I have since removed those reactions from the original video (originally 6:26-7:59). I’m really sorry about this. Ultimately, I am responsible for the content that goes on my channel and I should have done more here. I can vouch for that the reactions were genuine when the package was taken from my house. Having said that, I know my credibility is damaged but I encourage you to look at the types of videos I’ve been making for the past 7 years. This is my first ever video with some kind of “prank" and like I mentioned in the video, it’s pretty removed from my comfort zone and I should have done more. I’m especially gutted because so much thought, time, money and effort went into building the device and I hope this doesn’t just taint the entire effort as “fake". It genuinely works (like all the other things I’ve built on my channel) and we’ve made all the code and build info public. Again, I’m sorry for putting something up on my channel that was misleading. That is totally on me and I will take all necessary steps to make sure it won’t happen again. High Speed camera courtesy of https://www.aimed-research.com/. They rent high speed cameras at killer prices. Hit them up. ***Music*** 0:00- Dance of the Sugar Plum Fairy - Kevin MacLeod https://incompetech.com/ 00:18- Cereal Killa - Blue Wednesday https://soundcloud.com/bluewednesday/ 00:59- Take a Chance - Kevin MacLeod https://incompetech.com/ 1:09- Q - Blue Wednesday https://soundcloud.com/bluewednesday/ 1:56- Arrow- Andrew Applepie http://andrewapplepie.com/ 3:40- Home Alone Sample 3:55- Ambientis 9:39- New Shoes - Blue Wednesday https://soundcloud.com/bluewednesday/ Summary: I got upset that my package was stolen so I made a glitter bomb revenge package. MERCH- They are soft- https://teespring.com/stores/markrober PLEASE CONSIDER SUBSCRIBING: http://tinyurl.com/MarkRober-Sub **************************************** I make videos like this once a month all year long while supplies last: CHECK OUT MY CHANNEL: http://tinyurl.com/MarkRober-YouTube FACEBOOK: https://www.facebook.com/MarkRoberYouTube TWITTER: https://twitter.com/#!/MarkRober INSTAGRAM: https://www.instagram.com/markrober/
Views: 59187022 Mark Rober
Wikipedia wiki consumer_economics url? Q webcache. Consumer wikipedia consumer economics wikipedia en. Consumer economics definition statistics canadadefinition of 'consumer price index' the economic times. Consumer demand definition and meaning what are consumer services? Definition theory investopediaconsumer surplus investopediadefinition of by merriam webster. Googleusercontent search. What is a consumer? Definition and meaning investor words. A consumer is someone who can 1 dec 2008 economics includes materials dealing with credit and banking, savings, advertising, making purchases, maintaining personal in the fields of economics, marketing a generally defined as one pays to consume goods services produced by 20 jul 2013 definition comprehensive measure used for estimation price changes basket representative consumption surplus difference between consumers' willingness pay commodity actual paid them, or high unemployment economic slowdown gradually reduced demand. Video definition products that are purchased for consumption by the average consumer. Economic growth definition consumer spending is what households buy to fulfill everyday needs 3 jan 2002 in theory, individual welfare defined by an individual's own assessment practice, applied economics uses the notion of economy that relies heavily on how much people are buying and. Garraty, john arthur the american nation a definition of consumer services range provided to consumers product by company that produces, markets, or supports theory is study how people decide what spend their money on given logically, they will choose bundle gives them greatest benefit (that maximizes utility, in economic parlance). Alternatively called final goods, consumer goods are the end result of production and one that consumes such asa utilizes economic many consumers make purchases on internet. Oecd glossary of statistical terms consumer welfare definitionconsumer economy defined. Definition of 'consumer surplus' the economic times. Consumer spending definition and determinants the balance. B an organism requiring complex organic 6 apr 2017 what you buy every day drives u. It is a broad field, principally concerned with microeconomic analysis behavior in units of consumers, families, or individuals (in contrast to traditional economics, which primarily government business units) consumer person organization that uses economic services commodities the economics topic by longman dictionary contemporary english what you need know about words, phrases and american heritage language, fifth edition(k n sju m )(economics) who acquires goods definition an individual buys products for personal use not manufacture resale. An example of a consumer economy in. Video definition if consumers spend too much of their income, however, future economic growth they simply mean the combined market value all consumer spending within an measure satisfaction, which is calculated by analyzing difference a surplus occurs when wil
Views: 324 new sparky
Why are Alibaba Suppliers Ignoring Me? If your contacting suppliers and not getting any answers back there may be something wrong with the way your contacting suppliers. There are many people who abuse the free sample thing just to get free products, while other people get free samples and never order anything so suppliers have really cut back on their willingness to give free samples. Some suppliers do but generally you will have to pay at the very least the shipping on free samples. You'll also want to seem more experienced and larger than you actually are. If you have an LLC mention your name and say your contacting them on behalf of XYZ Company. If you have a website you plan to sell the product on mention the website. Speak as if you know what your talking about. If you want custom packaging ask for "OEM" not "can you make a package with my name". Lastsly, if you want to start with a small first order, rather than asking if they'll do only a 20 piece order, ask for a 20 piece sample. They will typically fulfill that order even if it's below their MOQ and you can get a small first order and take it from there. If you have any questions or want to offer some helpful advice of your own feel free to do it in the comments section below. Sign Up For Alibaba For FREE Today!!! http://click.alibaba.com/rd/1semq84d
Views: 24433 Rules For Rebels
It is hard to say what exact features of fat bicycles attract buyers, be it bad ass motorcycle look of fat tires, extra cushioning, off-road readiness or just the willingness of riders to stand out, but it’s obvious that they are getting more popular with each cycling season! However, if riding a fat bike pedaling with one’s legs could be tough due to extra weight, electric motors easily solve this problem. Today we will present to you the best fat electric bicycles currently on sale that can climb mountains, will tackle curbs unnoticed and make you look like the toughest rider in the town! Some of the ebikes that can be found on Amazon: Youth E-Bike by Swagtron: https://amzn.to/2suJzkn Cyrusher 500W-1000W: https://amzn.to/2JfKpaT Pedego Trail Tracker 48V 14A: https://amzn.to/2sDboGi Pedego with 24" Fat Tires and 36V 11Ah: https://amzn.to/2Ldlt4o Other video episodes you might like: Ebikes That Can Reach Motorbike Speeds: https://www.youtube.com/watch?v=-oNKWAcBA9s Electric Scooters and Smart Mopeds: https://www.youtube.com/watch?v=Unv9eKDC64U Affordable motorcycles with e-motors: https://www.youtube.com/watch?v=gjysvBCkYbI Bicycles featured in this video: Sondors Fat Bikes: sondors.com/collections/north-america You have probably heard of the Sondors electric bicycles company, as the enterprise that managed to successfully crowdfund the development and production of the most affordable electrified bicycle on the market. Rad Rover Fat Bikes: radpowerbikes.com/products/radrover-electric-fat-bike Within the last couple of years Rad Power Bikes has risen to become one of the most recognized affordable electric bicycles manufacturers on the market. In 2018 they offer a completely redesigned lineup built from the ground up taking into consideration the experience and feedback collected from thousands of buyers. Swagtron EB-6 Youth Fat E-Bike: swagtron.com/ebike/eb6-7-speed-folding-electric-bicycle Swagtron’s folding bikes are probably most known for their weird designs, however there is one fat bicycle in the lineup as well. Cyrusher Fat Tire Bikes: cyrusher.com Cyrusher is based in Shenzhen, China, however their products are widely sold on Amazon with good reviews from buyers. The fat lineup includes 500W and up to 1 kW strong bikes powered by rear mounted hub motors. Super 73: lithiumcycles.com The Canadian based company Lithiumcycles was founded back in 2011 as a manufacturer of industrial carts and scooters, however after the tremendous success of the 2016 Super 73 electric bicycle they became primarily associated with this product. Voltbike Fat Bikes: voltbike.ca Though, still not the most affordable model out there, but customer’s satisfaction rating and rich standard package do make Voltbikes rather appealing. Fatbikes from this cyclemaker are named Yukon and Mariner, the former one being a full-size two-wheeler with 26 inch tires and the latter a 20-inch wheel compact folding bike. EStallion: estallion.de eStallion is a rather new brand on the market of electric fat bikes founded in 2017 in Germany. But regardless of its young age it stands out of the crowd due to the beautiful design, high quality components and great performance characteristics. Pedego Trail Tracker: www.pedegoelectricbikes.com/shop/trail-tracker/ Pedego Trail Tracker is a fat tire bike that is suitable to be ridden by adults or kids in snow, mud or sand. Juiced Bikes Scrambler: www.juicedbikes.com/products/scrambler Juiced Bikes Scrambler is a new line of powerful electric bicycles with classic “scrambler” design for off-road and on road use. UNIMOKE: urbandrivestyle.com/products/the-unimoke-utlity-ebike Unimoke universal road-legal all-purpose e-bike by a Berlin-based company called Urban Drivestyle. The bike comes in to motor options and has a base price of $2,800. Seven Days City: fantic-bikes.com/en/bikes/seven-days-city Seven Days Città is a stylish Italian-made urban bike that rides on 4-ich wide fat tires. It can be easily distinguished among competitors due to its sophisticated design and premium finish materials. Haibike XDURO Full FatSix: www.haibike.com/en/AT/bikes/558/2018-xduro-full-fat-six-9-0 Haibike XDURO Full FatSix is a top of the line fat bike that incorporates Bluetooth connectivity, GPS transmitter and a GSM chip. We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
Views: 105964 Automotive Territory: Trending News & Car Reviews
A glimpse into the life of successful young snake entrepreneur Mark Naughton. Offering healthy friendly product Eden Snakes shows its willingness to buy, sell, & trade in the snake business. With excellent customer service and a caring approach to the well being of its animals, Eden Snakes is a supreme snake provider.
Views: 579 Nick Catucci
Want to focus on the customers that are excited, ready, and willing to buy your solution? In this video, I'm going to share how to define your ideal customer profile (ICP) for your B2B SaaS business. DOWNLOAD: The Rocket Demo Builder™ - Never give a boring software demo again and close up to TWICE as many deals by this time next week - http://bit.ly/2PNxx2s --- Let's connect on... + Instagram (behind the scenes): http://instagram.com/danmartell + Facebook (live trainings + Q&A): http://FB.com/DanMartell + Twitter (what I'm reading): http://twitter.com/danmartell --- I have a little secret. A few years ago when I started coaching growth-minded SaaS founders on how to scale their companies, I created someone named ‘Software Scaling Sam”. Sam was obsessed with growth, had achieved product/market fit, and was ready to take full ownership and responsibility in scaling beyond 10k MRR. If you think that Sam sounds quite a bit like you, that’s because Sam is you. Sam (or Samantha) is the customer avatar I’ve used to create all the content you’re seeing in this video series… as well as my high-level coaching program, SaaS Academy. It’s what’s allowed me to tightly define and target the founders that would be MOST ready to benefit from my content and coaching. It’s also just one single aspect of what makes a powerful ideal customer profile. In this week’s video, I cover the 6 core aspects you need to take into consideration when building out your most profitable (and probable) customer profile for your SaaS business. At a high level, the 6 core aspects of your ideal customer profile are: 1. Firmographics 2. Demographic traits 3. Technographic tools 4. Psychographic drivers 5. Roles 6. Name your avatar While the customer avatar (Software Scaling Sam, Marketing Mary, etc.) tends to get the most attention in marketing circles, I’ve found that identifying and leveraging psychographic drivers is the quickest way to make sure you’re working with customers who are set up to succeed. I’ve often redefined “SaaS” as “success as a service”. And with all things being equal, your customer’s ability (and willingness) to succeed through your product will largely come down to their mindset, belief system, and overall psychographic profile. Taking an hour to more clearly define these aspects will make your marketing and sales process SO much smoother while reducing strain on your customer success team. Give the full episode a watch here, and then let me know in the comments ONE new insight you have about your ideal customer -- and how you plan to take action around it. Dan “Scaling like Sam” Martell Don't forget to share this entrepreneurial advice with your friends, so they can learn too: https://youtu.be/RqN41GVY6UQ ===================== ABOUT DAN MARTELL ===================== “You can only keep what you give away.” That’s the mantra that’s shaped Dan Martell from a struggling 20-something business owner in the Canadian Maritimes (which is waaay out east) to a successful startup founder who’s raised more than $3 million in venture funding and exited not one... not two... but three tech businesses: Clarity.fm, Spheric and Flowtown. You can only keep what you give away. That philosophy has led Dan to invest in 33+ early stage startups such as Udemy, Intercom, Unbounce and Foodspotting. It’s also helped him shape the future of Hootsuite as an advisor to the social media tour de force. An activator, a tech geek, an adrenaline junkie and, yes, a romantic (ask his wife Renee), Dan has recently turned his attention to teaching startups a fundamental, little-discussed lesson that directly impacts their growth: how to scale. You’ll find not only incredible insights in every moment of every talk Dan gives - but also highly actionable takeaways that will propel your business forward. Because Dan gives freely of all that he knows. After all, you can only keep what you give away. DOWNLOAD: The Rocket Demo Builder™ - Never give a boring software demo again and close up to TWICE as many deals by this time next week - http://bit.ly/2PNxx2s
Views: 1937 Dan Martell
My team here at Funnel Science constantly surprises our clients by getting conversion rates in excess of 20%. Other agencies don't manage this, not least because they focus on getting clicks, not sales. To get sales, you MUST have meaningful metrics, and the most important metrics are Conversions. Conversions are real-world calls-to-action (CTAs) that indicate a prospect's willingness to buy your product or service. Yet, strangely, many AdWords and other PPC campaigns are set up to count non-value-adding actions as Conversions. For example, counting a prospect clicking on a blog page is not a meaningful Conversion if your objective is to get that person to call and make an appointment. In this video, I explain what a meaningful Conversion is and how it can be applied to a real client situation.
Views: 10 funnelscience
✎ In this video Evan is sharing his top 7 marketing strategies that'll help you dominate social media in 2017. Enjoy! :) ❤ HELP TRANSLATE THIS VIDEO ❤ If you loved this video, help people in other countries enjoy it too by making captions for it. Spread the love and impact. https://www.youtube.com/timedtext_video?v=0W6Jz44L1wU ★ MORE RECOMMENDED VIDEOS FOR YOU ★ If you enjoyed this video, you may enjoy these other videos from Evan Carmichael: • Warren Buffett's Top 10 Rules For Success - https://youtu.be/iEgu6p_frmE • Rich Dad Poor Dad - Robert Kiyosaki's Top 10 Rules For Success - https://youtu.be/yVfBdFs4_S8 • Bob Proctor's Top 10 Rules For Success - https://youtu.be/uLn6lpP8YmA ✎ 7 Marketing Trends to Help you DOMINATE Social Media in 2017: 1. Small biz will eat brands * Small businesses will continue to dominate at social while big brands mostly struggle * For small businesses it will increasingly become the #1 way they drive new business 2. Video will dominate * Video will become increasingly important across all platforms * The ones who win will: stand for something, understand storytelling, be authentic, and take advantage of new technology like 360 and 4k/8k video * The ones who lose will be the ones who focus on promoting over providing value * Live video streaming will play an increasingly important role across all platforms 3. Mobile first will win * Marketing must focus on mobile first, desktop second as mobile use continues to grow * Websites and campaigns must be designed with the mobile user as the priority audience 4. Advertising costs will rise * For those spending on advertising, the cost to reach your audience will rise as more brands shift budgets to social * Facebook targeted ads is still the most cost effective way to reach a specific audience but the cost to reach them will rise in 2017 5. Influencer marketing will explode * Influencer marketing is still underpriced and a great way to connect with audiences * More brands will add influencer marketing to their strategy in 2017, driving up the cost of programs * Successful brands will have to navigate the willingness to give up creative control of content to allow the influencer campaigns to bring the best ROI 6. Content will grow * The amount of content, and quality content, from businesses will grow. Those who produce more will win. * Smart companies will show behind the scenes, become thought leaders, and feature their sawdust 7. Data nerds will reign * People who understand analytics, algorithm hacking, and automation will become increasingly valuable * Money will shift from SEO to social and new opportunities will open up for the people who can shift accordingly ♛ BUY MY BOOK, CHANGE YOUR LIFE ♛ Some used the ideas in this book to build multi-billion-dollar businesses. I'll give you the simple-yet-powerful formula that they used (and you can) to realize your dreams. Get yours. http://www.evancarmichael.com/oneword/ ✉ JOIN MY #BELIEVE NEWSLETTER ✉ This is the best way to have entrepreneur gold delivered to your inbox, and to be inspired, encouraged and supported in your business. Join #BelieveNation and feel the love. http://www.evancarmichael.com/newsletter/ ⚑ SUBSCRIBE TO MY CHANNEL ⚑ If you want to do great things you need to have a great environment. Create one by subbing and watching daily. http://www.youtube.com/subscription_center?add_user=Modelingthemasters ¿ COMMON QUESTIONS ¿ • What is #BTA?: https://www.youtube.com/watch?v=BsY8bmTUVP8 • How do I get one of Evan's t-shirts?: http://evancarmichael.com/gear • Why does Evan look like Nicolas Cage?: https://www.youtube.com/watch?v=gZHRniTcRwo • Why does Evan make so many videos? https://www.youtube.com/watch?v=NEKxGA8xr1k • How do I vote for the next Top 10 video Evan should make? https://www.youtube.com/watch?v=0arZb0xLIDM ツ CONNECT WITH ME ツ Leave a comment on this video and it'll get a response. Or you can connect with me on different social platforms too: • Instagram: https://www.instagram.com/evancarmichael/ • Twitter: https://twitter.com/evancarmichael • Facebook: https://www.facebook.com/EvanCarmichaelcom • Website: http://www.evancarmichael.com .: MORE ABOUT ME PERSONALLY :. • About: http://www.evancarmichael.com/about/ • Coaching: http://www.evancarmichael.com/movement/ • Speaking: http://www.evancarmichael.com/speaking/ ----------------------------------------------------------------------------- Thank you for watching - I really appreciate it :) Cheers, Evan #Believe
Views: 365850 Evan Carmichael
Chapter 14 Video Lecture Managerial Economics: A Problem Solving Approach by Luke Froeb, Brian McCann Summary of Main Points Chapter 14 -- When a seller cannot identify low- and high-value consumers or cannot prevent arbitrage between two groups, it can still discriminate, but only indirectly, by designing products or services that appeal to groups with different price elasticities of demand, who identify themselves based on their purchasing behavior. -- Metering is a type of indirect discrimination that identifies high-value consumers by how intensely they use a product (e.g., by how many cartridges they buy). In this case, charge a big markup on the cartridges and a lower markup on the printer. -- If you offer a low-value product that is attractive to high-value consumers, you may cannibalize sales of your high-price product. -- When pricing for an individual customer, do not bargain over unit price. Instead, you should -- Offer volume discounts; -- Use two-part pricing; or -- Offer a bundle containing a number of units. -- Bundling different goods together can allow a seller to extract more consumer surplus if willingness to pay for the bundle is more homogeneous than willingness to pay for the separate items in the bundle.
Views: 12306 LukeFroeb
Late last year, the Iran-supported Houthi rebels in Yemen fired a Burqan-2 missile (a Scud variant) aimed at the international airport in Riyadh some 600 miles to the northeast. The missile got to its target alright but due to the strains in the metal canister induced by the flight, blew apart with the debris littering parts of the runway and the road outside the airport. The Saudis, however, claimed that they had fired five Patriot advanced capability (PAC-3) interceptor at the intruder and had destroyed the Houthi Burqan. US President Donald Trump visiting Saudi Arabia not long after that event crowed, “Our system knocked the missile out of the air. That’s how good we are. Nobody makes what we make, and now we’re selling it all over the world.” Trump is a loud, less than, credible snake oil salesman at the best of times. As promoter of the PAC-3 he is eminently ignorable, as is any US official urging friendly countries to buy this air defence system whose worldwide publicity is far better than its performance. Except, and this is a kicker, an analysis by air defence experts of the debris distribution and of the parts of the Burqan system that the Saudis proudly displayed days after the attack, came to the conclusion, as reported in the American press, that the incoming missile had come apart by itself at the end of its trajectory and, more shocking still to Trump Admin officials, the Pentagon, and Raytheon — the maker of the Patriot, that all the five PAC-3 interceptors the Saudis fired had missed the target! Last month Tina Kaidanow, principal deputy assistant secretary of the US State Department’s Political-Military Affairs Bureau, came to Delhi on a triple-pronged mission — to press Delhi to sign the remaining two “foundational” agreements — COMCASA and BECA as follow up to the LSA; and to prevent India signing up to buy the Russian counterpart of the PAC-3, the S-400, for $5 billion; and to persuade the Modi government to buy instead the American product, PAC-3, that doesn’t work. While Kaidanow’s visit wasn’t reported by the Indian media, External Affairs Minister Sushma Swaraj’s statement that India would go in for the Russian item even if it attracted US sanctions under the 2018 Countering America’s Adversaries Through Sanctions Act, was. Apparently, the US State Dept official’s muffled threat of CAATSA did not work, nor did it “engender a willingness” on the part of the Indian government to think about the US PAC-3 system as replacement. And as regards COMCASA and BECA she was told nothing she could be reassured by. “As a function of trying to move the defense relationship forward — and certainly the defense trade relationship — it is important that those foundational agreements are considered by the Indian government, they are acted on hopefully as expeditiously as possible,” Kaidanow told the Washington defence media. “Of course it is their sovereign right to decide on these things, but our hope is that we have presented to them some good options and some ways forward. Hopefully we can make some progress in that relatively soon.” And pertaining to the F-16 and perhaps also the PAC-3, she said “American defense product is great product — it is the best in the world. It’s central that countries really think about when they acquire these things — and particularly when we’re talking about important systems … — that they think about the quality and the interoperability piece and all of the things that we know come with the acquisition of American products.” Kaidanow is right. Buying military goods from the US comes with lot of attached baggage and just too many do’s and don’t’s, inclusive of the uncertainty attending on the spares supply, which can be stopped at any time on Congressional whim and an Administration’s fancy. And worst of all, the PAC-3 does not work as advertised. Source :- The Citizen Background Music :- bensound.com Disclaimer- This channel is for defence related news worldwide . We try to give you true news related to each and every aspects of defence . It is either country, defence weapon, air Force, army ,navy, military or anything we will try to fully explain . The content specially news we upload are taken from various news channels and media houses . we never claim it is 100 % on our behalf but we try to deliver you exact without rumours . our news is specially related to india . As India is a growing country specially in defence under narendra modi BJP government . Channel Link: https://www.youtube.com/DefenceTube Facebook Link: https://www.facebook.com/defencetube Twitter Link : https://twitter.com/DefenceTube Check my all playlist : https://www.youtube.com/defencetube/playlist
Views: 2709 Defence Tube
Pricing is the process of determining what a company will receive in exchange for its product or service. Pricing factors are manufacturing cost, market place, competition, market condition, brand, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix. (The other three aspects are product, promotion, and place.) Price is the only revenue generating element amongst the four Ps, the rest being cost centers. However, the other Ps of marketing will contribute to decreasing price elasticity and so enable price increases to drive greater revenue and profits. Pricing is the manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others. Automated systems require more setup and maintenance but may prevent pricing errors. The needs of the consumer can be converted into demand only if the consumer has the willingness and capacity to buy the product. Thus pricing is very important in marketing. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 6 Audiopedia
Moving images are getting more and more important for Online Shop owners. They increase the conversion rate and improve search results. We call it Shop by Video. Short fashion clips present fashion of designers and luxury brands with full emotion. The floating movements give the product presentation a fourth dimension and stimulate the willingness to buy.
Views: 25 Monthipha Saparp
marketing research for beginners, understanding marketing research fundamentals. Definition: The process of gathering, analyzing and interpreting information about a market, about a product or service to be offered for sale in that market, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face. Market research provides relevant data to help solve marketing challenges that a business will most likely face--an integral part of the business planning process. In fact, strategies such as market segmentation (identifying specific groups within a market) and product differentiation (creating an identity for a product or service that separates it from those of the competitors) are impossible to develop without market research. Market research involves two types of data: Primary information. This is research you compile yourself or hire someone to gather for you. Secondary information. This type of research is already compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations or other businesses within your industry. Most of the research you gather will most likely be secondary. When conducting primary research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents. Specific research, on the other hand, is precise in scope and is used to solve a problem that exploratory research has identified. Interviews are structured and formal in approach. Of the two, specific research is the more expensive.
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Views: 487 Andrei Galanchuk
Socioeconomic: The populations are broken down according to income, employment, education, social class, home/car ownership, etc. Income: Segmenting by income is very popular. It is true for cars, luggage, vacations and fashion goods. There may be people belonging to lower class, middle class and high net worth individuals. Education: College-going students have different demands. It is different than the people who after good higher education join the companies as executives, and those who are illiterates. Occupation: The requirements for executives and a school teacher would altogether be different. The executive class would require Armani suit, whereas the other one would require a suit of any brand which is economical. Social Class: Social class indicates one’s social position, and is objectified through income, occupation, and location of residence. A policeman might be earning more than a college professor. He belongs to a social class lower than that of a professor. The social class of professor will demand purchases of items and place of purchases different from that of a policeman. 4.Behavioural Segmentation: David Kurtz likes to call it as Product-related segmentation. Emphasis is placed on differences in peoples’ values. It takes into consideration the purchasing behaviour as the starting point. It reflects how frequently they buy, how loyal they are, what benefits they seek, when they buy, etc. (a) Usage status: The segmentation may be done on the basis of ‘light’, ‘medium’, and ‘heavy’ users of a product. The other way of user status can be non-users, first-time users and regular users. Airlines ‘frequent flyer’ schemes are based on this philosophy (b) Brand Loyalty Levels: The segments may be made on the basis of ‘Hard Core Loyals’ (same brand every time), ‘Soft Core Loyals’ (loyalty divided between two or more brands), ‘Shifting Loyals’ (Brand switchers), and ‘Switchers (no particular preference) (c) Benefit sought: The kind of benefit one wants to seek. Benefit segmentation depends on benefit sought is identifiable, using these benefits , marketers must be able to divide the customers into recognisable segments, and one or more of the resulting segments must be accessible to the firm. (d) Occasions for Purchase: Some of the products are purchased only on certain occasions. These occasions may be used as the basis for segmentation. Gifts are normally exchanged on Diwali. But colours are purchased only on Holi. Demand for dates increase during the month of Ramadan. On the occasion of wedding lot of things are purchased including Lehenga and Choli. The segmentation may be done not only on the basis of culture (Indian culture).The segmentation may be done also according to the subculture (religion, race, nationality). (e) Frequency of purchasing: People may buy for the whole year, or for one quarter or one month or one week. In India there are some households who buy rice at the time of harvesting for the whole year. They buy in 35 or 50 kg. Bags, Those who buy only for a month buy 5kg. bags. Thus, frequency of purchasing is a good basis for segmentation. (f) Willingness to buy: A few people might not know the product. A few know it but never used. But some people know it and have used it. Each one of these segments requires a different marketing strategy g) Season: In India, we have three seasons- summer, rainy, and winter seasons. For each season we have different requirements. Air conditioner is purchased only during summers. But gone are the days when sellers in the air conditioner (AC) segment would market their products only during summers. Now, with changing weather conditions, AC sales take place throughout the year.
Views: 181 Commerce Study Center
My community has been asking for ways to support Deliberately Creative: Click the TeeSpring Shop Shelf right below the Video For Deliberately Creative Branded Merchandise! (Affiliate Links will take you to a shop where I will earn a small commission when you purchase - I will not change your prices ever!) Do you want any products I mention in this video? Check out my Amazon Store: https://www.amazon.com/shop/deliberatelycreative I'm so excited to share this Fluid-Art Poured Acrylic Undersea Fantasy Step by Step Painting! It started of as a bouquet of flowers with Decoart Pouring Medium and Americana paints using the Pulled String Technique (using Jewelry chain!) and it ended up as a wonderful Undersea Fantasy with flowers, greenery and a little red octopus. I love how these paintings take on a life of their own and lead me down paths I would never have thought to explore. Let's get started! Oh! If this is your first time here Welcome!! Please click the Subscribe button and the Bell to turn on the Notifications! PAINT RECIPE: 3 Parts Decoart Pouring Medium, 1 Part Soft Body Acrylic Materials: Any items with links are Affiliate links for things that I have actually purchased and used in this ideo. I do earn a small commission if you make a purchase. Those links don't change the prices you pay and they do help my channel. :) Thank you!! Ampersand 12x12 Gessobord : https://amzn.to/2tdijXl Needle Tip plastic squeeze bottles: https://amzn.to/2rVddix 5ml plastic disposable Pipettes: https://amzn.to/2t1O46r Jewelry Chain Stainless Steel: https://amzn.to/2ybVUiI Decoart Pouring Medium: https://amzn.to/2Ij72yg Decoart Americana Craft Paint- Primary Blue Titanium White, Lamp Black, Primary Red, Festive Green.: https://amzn.to/2JAmcjU Decoart Americana Premium - Primary Yellow: Decoart Metallics: Splendid Gold There's no silicon oil or torching in my projects as I really worry about the possible side effects of heating the acrylic paints and the materials they are made from. I'm also concerned with the possible issues down the line with the paint not forming a good bond with the surface because of the oils preventing proper adhesion. We all have to weigh the pros and cons of how we interact with our art supplies. Experimenting can be exciting and beautiful, but there can be consequences we don't know about yet. As with any thing in life be informed by reputable sources and your own common sense. :) I have a creative spirit that loves to explore and experiment with all kinds of Arts and Craft! I hope you have fun while you join me on my creative adventures! Make sure you have clicked that Subscribe button and the Bell so you will be notified when new videos go up! Fun things are planned and I hope you will be a part of them! The most important things you need to be successful with any of my creative projects are the willingness to learn and to be easy on yourself as you are learning. We tend to be our worst critics and we need to learn to be kind to ourselves. I love the community that we are building here. We are caring and supportive of all levels of crafters, makers and Artists. We have a great group on Facebook Come and join us! Credit: Music: http://www.purple-planet.com Licensed under Creative Commons: By Attribution 3.0 http://creativecommons.org Music: Http://jukedeck.com Folk42 Find me at: Instagram: @deliberately_creative Pinterest: https://www.pinterest.com/sbergeron00/ Google+: +Deliberately Creative -Stephanie Bergeron Facebook: Deliberately Creative Https://www.facebook.com/groups/1524859274500385/ Please join our creative discussion! Join our group! Website: Http://deliberately-creative.com HAPPY MAIL ADDRESS Deliberately Creative P.O. Box 113 Vancouver, WA 98666 Copyright info: Videos produced by Stephanie Bergeron (Deliberately Creative Sbergeron00) are intended for private use only. Please contact me for commercial/retail use licensing information. Feel free to embed the videos as is, but please do not alter, remove watermarks, re-upload or otherwise change the original video. Thank you.
Views: 86265 DeliberatelyCreative
Here are the details for the 2 applications: 1st POSITION: Graphic Designer Position (Working Remotely- PAID) : Who do we want? A creative unicorn with exquisite taste who brings a unique perspective to the table. He/She has the willingness to observe, adapt, execute, and refine creative elements in a very fast-paced environment... Oh and the only thing that should match your creativity is your humility. Please only apply if you have: 1-3 years minimum of experience in design and branding a strong portfolio of creative work Education: Couldn’t care less as long as you’ve got what it takes. Skills required Articulate design solutions to team members effectively. Multi-task while coordinating multiple projects + resources. a strong work ethic and ability to thrive in a fast-paced and dynamic workplace. Be a team player who collaborates easily + brings creative momentum to projects. What we need a designer for: Creating the Yes Theory and Seek Discomfort brands’ visual identity. Designing Pitch Decks and Media Kits Pumping out designs and product concepts for “Seek Discomfort” (our product line and apparel brand) on a monthly basis. Designing infographics for performance briefs every quarter for Yes Theory and after every brand deal we make. Obviously more as we expand but that should suffice to start with. Will you be paid? Yes. We’ll do a 1 month trial and if you make it then you’ll officially join the team as the first ever Yes Theory graphic Designer. Who will you be working directly with? Ammar and the Yes Theory manager, Zack. How do you apply? -Redesign the “Yes Theory” logo. The words “yes” and “theory” have to roughly be around the same size (Trade mark requirement) -Submit a “Seek Discomfort” design for our apparel brand. Send all the above information to this email: [email protected] with these two (Max 6) designs plus a link to your previous work. Our goal with this application process will be to find our main graphic designer who we’ll be working with consistently but also pinpoint the top 10 applicants and outsource design work to them whenever the opportunity presents itself. The key here will be to surprise us with quality of work and presentation we’ve never seen before. Don't apply if you are under 18. 2nd POSITION: Badass storyteller and editor (based with us in LA) What we are looking for: Someone that can come in and not only nail our style of storytelling but enhance it. Play with new music, new graphics/animations and incorporate your own creativity into our videos. Thomas has been editing with Matt’s younger brother TD for a while but as Thomas is getting occupied with more tasks outside post production and we need someone to come in and fill his place. As you can expect, the position you’ll be applying for is the most strenuous and time demanding. We often end up with 2-5 hours of footage after our shoots. It’s usually a mess and requires someone with extreme patience and commitment to our message and purpose behind making these videos. On the upside, you’ll join a family that cares for each other beyond what you can imagine and share with us the privilege of bringing joy into people’s lives. How to apply: 1- Post a video on YouTube that has “Yes Theory Editor Application” somewhere in the title and send us the link to the video that you edited fully on your own. Either creatively tell us why we should pick you or simply tell a story you think showcases your skills as a storyteller. We’re leaving this assignment quite vague because we want to see where you take it. What matters here is that we sense thought, passion and creativity. Have fun with it. If you catch our attention and pass this stage there will be a stage of 2 of the editor application. 2- Email us the link of that video to [email protected] In that same email send us a link to the rest of your work, either to your youtube channel, vimeo or website. Structure your email this way: Subject line: Editor Application: (First Name, Last Name) “Hi my name is ____ I am ___ years old and live in ___. I (can/cannot) work in the US. Here is the link to my video application: (link) Here is the link to my previous work: (link) I want to join the Yes Theory team because… (6 sentences max) Thank you, (Name)” Is it paid? Yes, after a trial period with us in LA with living expenses covered. Don’t apply if: You are under 19 and have time commitments (going back to school in September for example). Can't wait to see what you got!
Views: 692299 Yes Theory