Availability heuristic

In today’s quick society, people often base their idea of who someone is without any actual information about the person. Most times it is done in order to ‘save time’ in their day - therefore causing people to create ideas about who a person is. However, there are moments when their perception is true, leaving them to stick with that idea that a quick judgement is the best way to react in that situation. It is not uncommon for people to jump to conclusions based off their personal experience…

Case Study: Mera Mobile, Mera Saathi In November 2010, a village in Uttar Pradesh banned unmarried women from using mobile phones. Here, and elsewhere in this region, mobile phones are seen as unwelcome tools that enable women to step beyond the confines of traditional roles and social mores. This explains the concept of behavioral economics. Herein thesocial, cognitive and emotional factors helps in understanding the reason for the economicdecision(to buy or not to buy a mobile) of…

sentiment scores After performing sentiment analysis and classifying rating system need to generate graphs showing sentiment scores of comments and ratings. 4.5 Nonfunctional requirements  Reliability requirement Loss of data must not be allowed. Availability of system when the user needs it.  Performance requirements Data should be up to date while performing. Time taken during processing must be…

If one of the machines should malfunction, machine one would be the appropriate choice for a back up. The chances of machine one breaking down is far less possible than the other two machines. Reliability is the probability that a machine will function properly for a specified time (Heizer, J. and Render, B. 2010). I recommend the following things to keep the machines up and running with the best possible efficiency: regular/preventative maintenance and well-trained personnel.…

Figure 1. 3 Convergence of Interest Model [Modified from Saxton et. al.] (Saxton, 2009). According to the educational experts from over 16 top pharmaceutical companies in Germany, the industry engagement in medical education can be grouped into four categories. a) Industry-provided product specific training b) Industry-provided professional development and medical disease education c) Collaborative partnerships d) Support to third party provided medical education a) Industry-provided…

According to Coopersmith’s definition, self-esteem is “the evaluation which the individual makes and customarily maintains with regard to himself: it expresses an attitude of approval and indicates the extent to which an individual believes himself to be capable, significant, successful and worthy. In short, self-esteem is a personal judgment of the worthiness that is expressed in the attitudes the individual holds towards himself.” (p. 4–5) To put it more simply, self-esteem is the attitude…

4 Wine back label effects In this part of study, I will discuss the importance for Chinese consumers of wine translated back label statements when they are choosing wine. And also, I will find out how these factors on the back label were related by price. Ten different back label statements with price were tested through a discrete choice experiment. Three hundred thirty-one wine consumers representing the normal Chinese wine consumers were tested to choose a bottle of wine they were most…

On the opposite spectrum from supplier bargaining power is the bargaining power of buyers. These buyers do not just represent the end user consumer who purchases a PC, laptop computer, or other computer accessory, but represent the buyers all along the entire supply chain from concept and research and development to manufacturing, customization, packaging, transportation, sales, and delivery and in some cases, after the sale customer service. Their overall buying power as a group is considered…

Benefits of direct marketing: Buyers • Home shopping- fun, convenient and hassle free, time saving, larger variety. • Comparative shopping possible- browsing through online catalogues. • Somebody else other than buyer can order goods. • Business customers- learn about new products & services- time saved in meeting sales people. Sellers • Buy mailing lists- any group : left handed, overweight, millionaires • Personalize and customize the messages- build continuous relationship with…

Unfortunately, some companies have mismanaged their greatest asset—their brands. This is what befell the popular Snapple brand almost as soon as Quaker Oats bought the beverage marketer for $1.7 billion in 1994. Snapple had become a hit through powerful grassroots marketing and distribution through small outlets and convenience stores. Analysts said that because Quaker did not understand the brand’s appeal, it made the mistake of changing the ads and the distribution. Snapple lost so much…