Saturday, September 14, 2019

The Effects of Neuromarketing in Consumer Behavior

Neuromarketing helps many companies and academics to understand how the neurons in our brains behave in such a way that stimulates and influences our desire to consume products from a particular brand. The purpose of my research was to find out what influences my buying decisions referencing the book Buy-ology by Martin Lindstrom, which talks a about a Neuromarketing study that used 2,000 volunteers from around the world and related to the concepts learned in Consumer Behavior class. A personal consumption Journal is an excellent source of information that describes in detail my personal consumption experiences helping me to be more attentive of my consumer habits when marketers try to influence my judgment towards a product. The journal of Stephen J Gould states that â€Å"introspection involves the provision of verbal data about one’s own experiences that are consciously available only to oneself†. The data I collected with my journal was important and useful because it gave me the opportunity to compare the findings of Lindstrom with my personal experiences as an active consumer of a capitalist society. The journal was a challenging task for me because it took me a long time to be adapted to maintain up to date the log, eventually it became a routine. My consumer journal revealed that I was constantly seduced by companies to buy more products of their brand using my sensory receptors to attract my attention. An example was Victoria secret, my favorite lingerie and beauty store that seduce me to enter the store with an appealing smell and a mannequin wearing beautiful lingerie. Once you walk into the store there is a feeling of privacy and comfort. A quote from my Journal says â€Å"the lovely smell and texture of the Victoria secret cream increase my desire to come back and buy more products†. I immediately related my experience with the concept learned in class about sensation which is the instant reaction of the sensory organs to a stimulus. Companies try to create unique scents for their products in order to remain in the mind of the shoppers. One example is the Johnson and Johnson’s baby cream that just by a quick smell of the product; you will be immediately transported to your childhood memories. Lindstrom states that these kinds of associations are why companies use the mell of vanilla which is found in breast milk. An experiment carried out by a clothing store revealed that when the vanilla scents were sprayed across the women’s department, sales of the female merchandising increase in high numbers. Today companies are more frequently adopting the Sensory branding because if the consumer perceives a enjoyable scent with an attractive and seductive product, we are more likely to remember the product making it easy to the company to stay in your subconscious. Many companies around the world are using Neuromarketing to meet success in launching their new product. One example is Christian Dior, which scanned its new perfume J’adore to a series of FMRI studies to determine its ad placements in the market. As a result, they gathered a great success in selling their perfume J’adore and coincidentally having me as one of their loyal consumer. Neuroscience is so powerful that can even determine by brain scans how much a consumer is willing to pay for a good or service. Lindstrom conducted a series of studies on how a consumer perceives prices and if it had an influence on the decision of buying the product. He says â€Å"When subjects view luxury products such as Louis Vuitton and Gucci being sold at full price, both the nucleus accumbens and the anterior cingulated light up, showing the pleasure of anticipatory reward mixed with the conflict about buying such an expensive doodad. But when consumers are shown the same products at a significant discount, the â€Å"conflict† signal decreases as the reward activation simultaneously goes up† (Lindstrom, 2008, 197). In my log, I wrote my experience when buying a dress for a special dinner I had in October. I went to the Guess store to try to find the perfect outfit for my special occasion, all the merchandise I liked was at retail price so I decided to go to Macys and look in the guess section for my surprise the dress I wanted in guess was priced at 25% off at Macys. In my mind the price of the dress persuade me to buy the item thinking that I was getting a good deal. The study of Lindstrom and my personal experience was a clearly example of reference prices which is the price a consumer utilize as a source for comparison in judging another price. Lindstrom recalls an interesting study in his book performed by researches from Stanford University and the California Institute of Technology in which they asked twenty volunteers to position their pleasure and delight of different priced wines under an FMRI. The trap was that two of the wines were presented twice, one with a high price and the other with a low price. The findings of the researches state â€Å"When the expensive wine was presented, there was a flurry of activity in subjects’ medial orbitofrontal cortices, where they perceive pleasantness-indicating that the higher price of a product enhances our enjoyment of it†. In my opinion, the use an expensive product makes us feel pleased because in our minds we relate quality with expensive prices which is not always true. In Colombia the prices of low quality clothing are very high compared with the income of the population. Every time I go back home I complain about the market and their prices, entrepreneurs tend to take advantage of the people by buying merchandise at a low price in the U. S and china and selling in Colombia for five times the wholesale price. I understand that is a business and profit need to be made but an extremely high price in products limits the consumer capacity to consume. The book Buy-ology by Martin Lindstrom explains how his recent research in Neuroscience reveals revolutionary concepts about how people are influence by various advertisements strategies. Lindstrom through a detail study of the brain evaluates the effectiveness of the subconscious ads and is able to determine that they are actually more effective than the traditional advertisement logos. In his book he explains the effectiveness of subliminal advertisement campaigns and depicts real life scenarios of the marketing world. Lindstrom in his three year study, with a cost of seven million, engaged some of the top Neuroscientists – Dr Gemma Calvert current chair in applied Neuroimaging at the University of Warwick, England and founder of Neurosense in Oxford was in charge of overseeing the research team for this study. One of the conducted case studies was to discover if subliminal messages would produce cravings similar to the ones generated by the traditional logos. They picked the tobacco industry for this experiment since it is one of the industries which have been forced to adopt new marketing strategies due to the global tobacco advertisement ban effort. Tobacco companies such as Marlboro and Camel have implemented subliminal messages in response to this ban which have now, after this research, proven to be more effective. Lindstrom writes â€Å" More fascinating still, when Dr Calvert compared the brains’ responses to the two different types of images, she found even more activity in the reward and craving centers when ubjects viewed the subliminal images than when they viewed the overt images. In other words, the logo-free images associated with cigarettes, like Ferrari and the sunset, triggered more cravings among smokers than the logos or images of the cigarette pack themselves† ( Lindstrom, 2008,84). Formula one being one of the top most watched sports in the world created an association between the competing teams and tob acco brands. Prior to the tobacco bans Formula one teams’ were sponsored primarily by cigarette companies such as Marlboro, Camel, Lucky Brand, etc and their logos were decaled all over the cars. For all those who were acquainted with the sport, this long-lasting relationship between teams and tobacco brands created an association in people’s perceptions that still exist today even when the tobacco logos have been removed form the cars. A clear example of this is Ferrari with Marlboro, their cars, drivers and mechanics jumpsuits are red just like the Marlboro original brand logo, but more interesting that this long lasting partnership with Phillip Morris was the barcode logo that they had been using up until the beginning of this year, which according to the experts, resembles the bottom of a Marlboro cigarette pack. John Britton, a Fellow of the Royal College of Physicians and director of its tobacco advisory group, states, â€Å"according to the Times: â€Å"The bar code looks like the bottom half of a packet of Marlboro cigarettes. I was stunned when I saw it. This is pushing at the limits. If you look at how the bar code has evolved over the last four years, it looks like creeping branding. † (Pitpass. com). As being a Formula One fan myself, I experienced similar results to those conducted by Lindstrom. In my Journal, I noticed that my friends and I were always purchasing Marlboro cigarettes after watching a race. Unconsciously, I was having a desire to smoke without having being exposed to a Marlboro logo but instead having watched a red Ferrari car race around a circuit for two hours. This indicates that Marlboro has used subliminal message campaigns effectively through their partners creating a greater desire in consumers to purchase their product. This notion contradicts some of the findings of the effectiveness of subliminal persuasion in the book Consumer behavior (chapter 6). The book consumer behavior says â€Å"There is no evidence that subliminal advertising persuades people to buy goods and services. A comprehensive review of the literature indicates that subliminal perception has no effects on attitudes toward products and consumption behavior and that most of its effects were discovered in highly artificial situations†. In my research, I learned a lot about the mirror neurons which are accountable for why we imitate other individual’s behavior. The mirror neurons are responsible for when we try to lower our voices when someone is whispering. In terms of consumer behavior we can relate this concept to when we go to the mall and see a mannequin with an amazing dress with the matching shoes and purse that make her look elegant and slim. The consumer immediately buys the dress thinking that we as consumers are going to look the same if we acquiring the style and image that the store wants to sell us. In my journal, I found many scenarios where the mirror neurons influenced my rational thinking and caused me to unconsciously purchase what the store was displaying. In my visit to Hollister, one of the top 10 US clothing brands, I saw a female model at the entrance of the store wearing ultra casual red sweeter that immediately caught my attention because the color was perfect for the Christmas season, which then lead me to go inside the store to purchase the sweeter. The mirror neurons triggered my desire to buy the cool-looking sweeter I saw at Hollister. In conclusion, I was overwhelmed by the responsibility that our neurons and subconscious plays in our consumer behavior and how we attach to certain brands. In my opinion, Neuromarketing will soon be an essential source of information for marketers in terms of predicting the future of a new product in the market. The book Buy-ology explains the latest findings involving brains scans and successfully related to sales and purchases. Overall, Buy-ology gave me the opportunity to compare the statements of the book consumer behavior with the findings of Lindstrom and Dr. Calvert. After the consumer behavior class, I have come to acknowledge my consumer habits and be aware of the marketing strategies that influence my decision-making process.

Friday, September 13, 2019

Effect of Psychological Contract Violation on Organizational Essay

Effect of Psychological Contract Violation on Organizational Commitment, Trust and Turnover Intention in Private and Public Sector Indian Organizations - Essay Example Shahnawaz and Goswami (2011) basically outline the negative outcomes of psychological contract breaches on employers and employees in an organization. Epitropaki (2013: 67) describes an employment contract as a document which can control the activities of employees in an organization, and help them to realize the business goals. Such a contract details what employees are expected of by their employer and the gains that they are entitled to as payment for their effort. On the other hand, Wei and Si (2013: 544) concurs with Shahnawaz and Goswami on the definition of the less formal psychological contract as the beliefs of an individual employee as influenced by the business conditions guiding the interaction between employees and the employer. Alternatively, psychological contract can be construed to mean the perception of individual employees of their duty to their employer and their entitlements (Chiang et al 2012:81). Although, many people view the formal contract as more important to the success of an organization, Shahnawaz and Goswami’s assertion that psychological contract is a mutual commitment which plays an equally pivotal role in forging organizational commitment and the greater productivity is based on scientific evidence (Kraft & Kwantes 2013: 139; (Randmann 2013: 134). But Shahnawaz and Goswami’s argument that it is obvious for either party to fulfill their duty such contracts fails the implementation test. Notably, Zribi and Souaà ¯ (2013: 11) say the understanding of the psychological contract terms between an employee and the organization may be different because both parties have diverse interests and the practice is massively perceptual. Liang and Liu (2014: 56) also note these conflicting understandings of the mutual duties may create an understanding that the other party has reneged on the contractual terms. In addition, employees’ beliefs about of the duti es set up at the

Thursday, September 12, 2019

Politics of development Article Example | Topics and Well Written Essays - 2000 words

Politics of development - Article Example Globalization reduces rather than contributes to inequalities giving low developed nations a chance to progress and grow, acquire new technologies and innovations in all spheres of life. Globalization has both positive and negative impact on the third world countries identified by the development stage and economic possibilities. For the third world countries, positive effects of globalization involve free trade and integrated economic relations, low barriers to trade and cultural communication, political unity and easy travel, technology transfer and labor turnover. Governments take measures to make their economies more or less attractive to global investors. In addition, nation-states have retained control over education, infrastructure, and, most importantly, population movements. Indeed, immigration control, together with population registration and monitoring, has often been cited as the most notable exception to the general trend towards global integration. (Friedman 2000). Although only 2% of the world's population live outside their country of origin, immigration control has become a central issue in most advanced nations. Many governments seek to restrict population flows, particularly those originating in the poor countries of the global South. Even in the United States, annual inflows of about 600 ,000 immigrants during the 1990s reached only half the levels recorded during the first two decades of the 20th century (Stiglitz 2002). Finally, the series of drastic national security measures that were implemented worldwide as a response to the terrorist attacks of 9/11 reflect political dynamics that run counter to the hyper-globalizers' predictions of a borderless world. Some civil rights advocates even fear that the enormous resurgence of patriotism around the world might enable states to re-impose restrictions on the freedom of movement and assembly (Wade et al 2006). At the same time, however, the activities of global terrorist networks have revealed the inadequacy of conventional national security structures based on the modern nation-state system, thus forcing national governments to engage in new forms of international cooperation (Hirst and Thompson 1999). Following Stiglitz (2002): "Globalization can further be defined as the arrival of 'self-generating capital' at the global level: that is, capital as capital, capital in the form of the TNC, free of national loyalties, controls, and interests. This is different from the mere internationalization of capital, which assumes a world of national capitals and nation states; it is the supersession by capital of the nation state (p. 10). At the outset of the 21st century, the world finds itself in a transitional phase between the modern nation-state system and postmodern forms of global governance (Yip 1995). Regional clubs and agencies have sprung up across the world, leading some observers to speculate that they will eventually replace nation-states as the basic unit of governance. Starting out as attempts to integrate regional economies, these regional blocs have, in some cases, already evolved into loose political federations with common institutions of governance. On a global level, governments have formed a number of international organizations, including the UN, NATO,

Wednesday, September 11, 2019

Triple Steel Corporation Essay Example | Topics and Well Written Essays - 2000 words

Triple Steel Corporation - Essay Example As the discussion highlights in the initial assessment of the company, the current assets of the company have declined as the total worth of the company has also deteriorated comparing from the last year results. Since the revenue of the company has reduced by 2.37 Million as compared to last year, the assets of the company have also decreased but not in the same proportion. The cash and cash equivalents have decreased by 1% while the trade receivables have reduced by almost 60% which does not correspond with the loss decline in the revenue for the current year which was only 11%. The inconsistency between the two corresponding figures requires some additional concern over revenue and receivables. This paper outlines that   the inventory of Triple Steel has not decreased by the same proportion as the closing stock of the company stood at 3.55 Million which was down by 14% while the cost of goods sold was up by 1%. It has also been identified that the company has used two different methods of valuation of inventory at the year end as the method of valuation of inventory must remain constant throughout the year. In addition, the IAS doesn’t allow the use of Last-in-first-out method of valuation of inventory. The prepaid tax and insurance figures saw a decline by 23.53% as the revenue has also declined for the company and the company also incurred a loss of 49,000 this year compared to the profit of 1.795 Million last year. The property, plant and equipment of the company have increased by 3.7% which includes the purchase of land, building, equipment and machinery during the year. This has also given rise to the depreciation expense of the year which was nearly 8.8%. This may be because of the depreciation method used by the company such as the reducing balance. The current liabilities of the company have increased by 16.15% which include major increase in the amount of accounts payable which has increased by nearly 14%.

Tuesday, September 10, 2019

Constitutional Law Master Essay Example | Topics and Well Written Essays - 1000 words

Constitutional Law Master - Essay Example There is no technical difference between ordinary statutes and law considered "constitutional law." Therefore the Parliament of the United Kingdom can perform "constitutional reform" simply by passing Acts of Parliament and thus has the power to change any written or unwritten element of the constitution. The constitution is based on the concept of all sovereignty ultimately belonging to Parliament (Parliamentary sovereignty), so the concept of entrenchment cannot exist. The lack of a central written constitutional document explaining the fundamental principles of the state and relationship between its institutions and between the people leads some constitutionalists to regard the United Kingdom as having "no (formal) constitution." The phrase "unwritten constitution" is sometimes used, despite the fact that the UK constitution incorporates many written sources, statutory law being considered the most important source of the constitution. But the case remains that the constitution re lies far more on unwritten constitutional conventions than virtually every other liberal democratic constitution. Conventions as a source of constitutional rules have been widely acknowledged. Regardless of whether a country possesses an unwritten1 or a written constitution, constitutional conventions usually play an important role in regulating constitutional relationships among different branches of government. A common definition of constitutional conventions is: "By convention is meant a binding rule, a rule of behaviour accepted as obligatory by those concerned in the working of the constitution."2 Law and constitutional conventions are closely related. Constitutional conventions presuppose the existence of a legal framework, and do not exist in a legal vacuum. For example, in the UK, the constitutional conventions of forming a Cabinet presuppose the laws relating to the Queen's royal prerogative, the office and powers of Ministers, and the composition of Parliament.3 A difference between law and constitutional conventions is that laws are enforceable by the courts, but constitutional conv entions are not enforced by the courts. If there is a conflict between constitutional conventions and law, the courts must enforce the law. In some countries, such as the United Kingdom (UK) and Canada, the courts acknowledge the existence of constitutional conventions as aids to judicial interpretation.4 Academics consider that such acknowledgement may at 1times appear to be similar to enforcement.5 The constitution ... is seen to consist of two different parts; the one is made up of understandings, customs, or conventions which, not being enforced by the courts, are in no true sense of the word laws; the other part is made up of rules which are enforced by the courts, and which, whether personified in statutes or not, are laws in the strictest sense of the term, and make up the true law of the constitution. This law of the constitution is, as we have further found, in spite of all appearances to the contrary, the true foundation on which English polity rests, and it gives in truth even to the conventional element of the constitutional law such force as it really possesses. First, as constitutional conventions can easily be adapted to new circumstances arising, they are therefore frequently used as a means of bringing about constitutional development, provided that those constitutional co

Monday, September 9, 2019

Stylistic arangements of experience Essay Example | Topics and Well Written Essays - 1000 words

Stylistic arangements of experience - Essay Example As the plot progresses the reader experiences a sort of tension and a feeling of horror because of the peculiar narrative style of the writer. Unlike the science fiction works of his contemporaries, Lovecraft narrates the experiences of his characters with a staunch sense of realism, both physical and psychological. The reader is made to feel the freezing coldness of the Antarctic region in his/her veins. In the same way, the famous painting ‘Isle of the Dead’ by Swiss artist Arnold Bocklin has evoked similar responses in the viewer that Mark Robson drew the inspiration for his film from this artistic work. Style is a distinctive manner or technique by which something is done, created, or performed. The style and technique by which Lovecraft, Arnold Bocklin, and Mark Robson produced their respective novella, painting, and film exemplify their unique manner and craftsmanship which paved new ways for creativity. The novel is considered as the most ubiquitous of all forms o f literature. Robert Silverberg states, â€Å"The novella is one of the richest and most rewarding of literary forms...it allows for more extended development of theme and character than does the short story, without making the elaborate structural demands of the full-length book. Thus it provides an intense, detailed exploration of its subject, providing to some degree both the concentrated focus of the short story and the broad scope of the novel.† (Robert Silverberg 2000). â€Å"At the Mountains of Madness† is a novella of terror based on geological expedition to unearth an unprecedented amount of scientific material; especially in the pre-Cambrian strata. The exploration is aimed at unraveling the primal life history in the realms of ice covered Antarctic continent. The expedition from Miskatonic University through the barren, wind-swept interior of the Antarctic plateau remains lifeless. On the contrary, they encounter strange fossils of unheard creatures, carved stones, and

Sunday, September 8, 2019

Mock Variable Assignment Example | Topics and Well Written Essays - 500 words

Mock Variable - Assignment Example Sales volume defines cumulative sales that a retail consultant realizes in a two-week period. Every product has a sales price and the prices of all products that a consultant sells will be aggregated to determine each consultant’s sales volume. Leadership potential defines perceived ability to influence others towards desired objectives. In the study, the ability will be with respect to supervisors’ influence on the consultants and the consultants’ influence on buyers. Leadership style defines a person’s dominant leadership behavior. Even though an individual may have traits that define more than one leadership style, there will always be a dominant style at a time. Three leadership styles that the Multifactor Leadership Questionnaire measures will be considered and these are transformational leadership, transactional leadership, and passive-avoidant leadership styles (Anderson, Nilson, and Rhodes, 2009). Sales volume will be measured from observed value of products that a consultant sells based on sales price. The variable will be measured on a ratio scale that is suitable for both descriptive and inferential statistics. Leadership potential will be measured through a pre-developed questionnaire, Leadership Practices Inventory, and using ratio scale (Kouzes, Posner, and Biech, 2010). The quantitative scope of the data means possible use of descriptive and inferential statistics for analysis. The Multifactor Leadership Questionnaire will be used to measure leadership style on an ordinal scale. This is because of an assumption of relative effectiveness of the leadership styles on the consultants’ effectiveness. Analysis of variance for difference in levels of effectiveness is therefore the suitable inferential statistic. Like age, level of education will be measured through a questionnaire to which participants will respond. It will be measured on an