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RETRACTED ARTICLE: Consumer behavior during high inflation and new branding in Pakistan
Abstract
Domestic and international investors are interested in introducing their brands in Pakistan, the question is whether period of high inflation is suitable for introducing new brand in Pakistan. This study learned the consumer behavior during extremely high inflation period in Pakistan. The study conducted in Karachi, financial hub of the country. As population of Pakistan consisted of mainly three income classes, that are upper, middle and lower, the study selected randomly 100 consumers from each class of consumers. The descriptive statistics discovered that inflation caused a compromising change in behavior of consumers from the lower class, the study found a considerable change in terms of the buying capacity as well as selection of the brand among consumers from lower income class. The study further found little change in both these dimensions among the consumers from the middle class. However, the study did not find any large change in the behavior of the consumers from the upper class. It concludes that income level is the real determinant of consumer behavior while inflation is merely a catalyst. Based on such findings, the study contributed that period of high inflation in Pakistan is suitable for promoting new local brands providing economy in the markets where majority of the consumers come from middle and lower classes of income.
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In this article, the authors examine how consumer choice between hedonic and utilitarian goods is influenced by the nature of the decision task. Building on research on elaboration, the authors propose that the relative salience of hedonic dimensions is greater when consumers decide which of several items to give up (forfeiture choices) than when they decide which item to acquire (acquisition choices). The resulting hypothesis that a hedonic item is relatively preferred over the same utilitarian item in forfeiture choices than in acquisition choices was supported in two choice experiments. In a subsequent experiment, these findings were extended to hypothetical choices in which the acquisition and forfeiture conditions were created by manipulating initial attribute-level reference states instead of ownership. Finally, consistent with the experimental findings, a field survey showed that, relative to market prices, owners of relatively hedonic cars value their vehicles more than do owners of relatively utilitarian cars. The authors discuss theoretical implications of these reference-dependent preference asymmetries and explore consequences for marketing managers and other decision makers.
Even though service marketers are interested in influencing customer choice at the service provider level (i.e. the service brand level), the decision to patronize a particular service firm seldom occurs until after the customer decides to use a service provider in the first place. Ultimately, this initial “make-or-buy” purchase decision – the decision to use a service category – restrains customer decisions at the service provider (brand) level. To enhance our understanding of customers’ service category decisions, a double cross-validation approach was employed to investigate the applicability of a service category choice model which we adapted from Howard’s work on consumer decision making. Our model, which was tested with two different service categories, was supported.
Contrary to the common wisdom that more choice is always better, selections made from large assortments can lead to weaker preferences. Building on the extant literature, this research identifies ideal point availability as a key factor moderating the impact of assortment on choice. It is proposed that, in the case of large assortments, ideal point availability can simplify choice, leading to a stronger preference for the selected alternative. In contrast, for choices made from smaller assortments, ideal point availability is proposed to have the opposite effect, leading to weaker preferences. Data obtained from four experiments lend support for the theory and the empirical predictions advanced in this article. Copyright 2003 by the University of Chicago.
Consumer knowledge is seldom complete or errorless. Therefore, the self-assessed validity of knowledge and consequent knowledge calibration (i.e., the correspondence between self-assessed and actual validity) is an important issue for the study of consumer decision making. In this article we describe methods and models used in calibration research. We then review a wide variety of empirical results indicating that high levels of calibration are achieved rarely, moderate levels that include some degree of systematic bias are the norm, and confidence and accuracy are sometimes completely uncorrelated. Finally, we examine the explanations of miscalibration and offer suggestions for future research. Copyright 2000 by the University of Chicago.
As companies try to keep pace with rapid changes in technology and cope with unstable business environments, their research departments have to do more than simply invent new products. They must design the new technological and organizational architectures that make a continuously innovating company possible. In this 1991 article, John Seely Brown, then director of Xerox's Palo Alto Research Center (PARC), describes the business logic behind this distinctive vision of research's role and the ways Xerox PARC tried to realize that vision. its researchers developed prototypes of new work practices as well as new technologies and products. They designed new uses for technology to encourage the local innovation that, they found, occurs naturally at all levels of any big company. And they experimented with new techniques for what the author terms "co-producing" technological and organizational innovations with Xerox's customers. Xerox's business is technology, but Seely Brown argues that any company, no matter what its business, must eventually grapple with the issues he raises. The successful company of the future must understand how people really work and must adapt its technology to the work rather than the other way around. It must know how to create an environment that allows for continuous innovation by all employees. It must rethink traditional business assumptions and tap into needs that customers don't even know they have. In essence, he argues, the most important invention that will come out of the corporate research lab in the future will be the corporation itself.
Examines key differences in feelings about the interview atmosphere between Ss participating in focus group interviews (FG), nominated group technique (NGT) interviews, and individual self-administered (ISA) surveys. 248 students (aged 18–24 yrs) who were frequent users of the product categories that were the focus of the research (beverages, and diet and regular carbonated beverages) participated in the study. Each S was randomly assigned to participate in 1 of the 3 interview groups. Results indicate that the atmosphere created by each of these techniques differs. FG participants perceived the interview as more exciting and arousing than participants in the other 2 techniques. FG Ss felt less anonymous during the interviews than NGT Ss, and ISA survey Ss felt more anonymous than the Ss of the other 2 groups. FG interviews were found to be best suited for creating an atmosphere conducive to phenomenological and exploratory tasks. (PsycINFO Database Record (c) 2012 APA, all rights reserved)
Utilizing an involvement perspective and Punj and Stewart's (1983) interaction framework of decision making, the relationship between external search effort and a number of motivating antecedent variables is investigated and evaluated across five related consumer electronic products. The findings confirm four of five hypothesized relationships between total search effort and the following variables: purchase involvement (+), attitudes toward shopping (+), time availability (+), and product class knowledge (−). The relationship between ego involvement and total search effort was not significant. The influence of these variables upon a number of subindices of external search, including retailer search, media search, interpersonal search, and neutral sources search, is also investigated and reported.
Perceived speed key to 3G success. 3G's commercial success depends on carriers' ability to deliver coverage and account for channel loading
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