Rational Consumer Choice − DefinitionRational consumer choice is part of microeconomics that expresses consumer behavior as a result of an individual’s own preference. It assumes that consumer choice is dependent upon the personal preferences of consumers. It is used to model the human decision-making process and is thereby used in political sciences and warfare apart from economics.In rational choice theory, the school that is based on rational consumption, agents are illustrated by their non-changing preferences over all conceivable global results. Agents are termed rational if their rationality is complete and ordered. By completeness, it is assumed that preferences are complete ... Read More

In microeconomics, consumer choice refers to the goods and services a consumer purchases. There are many factors that influence consumer choice in reality. However, economists believe that all of these factors fall into two broad categories. These two factors that determine or guide consumer choices are budget constraint and utility.Consumer Choice: DefinitionConsumer choice is the choice of a consumer to buy a product or not. Usually, consumption or the behavior to buy products increase with increasing income. Moreover, it also depends on the happiness the consumer derives out of the product he/she buys.In other words, a consumer will choose to ... Read More

What is Organizational Communication?Organizational communication is established as the passage and forms of communication in which organizations such as institutions, charitable, and executive capture, as well as both the central communications that take place within an organization, and outer-facing communications between an organization and its shareholder.Enhancing organizational communication can have a significant result on the effectiveness of an organization. Individuals with a bachelor’s and/or master’s in organizational communication can work in human wealth, workers training and management, public interrelation and public incidents, retailing, communications authority, media management, strategy and defense, and investigation and direction, among other areas.Major Functions of Organizational ... Read More

Organizational behavior is the study of human behavior and interaction within an organization and with other organizations. Organizational behavior is related to individuals, as well as group of people working together in teams. The concepts and principles of organizational behavior are mostly used to improve the efficiency of businesses.Types of Organizational BehaviorVarious types of organizational behavior are as follows −Autocratic ModelCustodial ModelSupportive ModelCollegial ModelSystem ModelAutocratic ModelAutocratic model is the model that is contingent upon strength, ability and legal authority. In an autocratic organization, the owners who manage the tasks in an organization have legal authority to manage the employees who ... Read More

What is Organizational Behavior?Organizational behavior is the study of human behavior and interaction within an organization and with other organizations. Organizational behavior is related to individuals, as well as group of people working together in teams. The concepts and principles of organizational behavior are mostly used to improve the efficiency of businesses.The study of organizational behavior includes areas of investigation dedicated toward improvement of job production, increase in job fulfilment, promotion of innovation, and inspiring leadership keeping the foundation of corporate human resources. Each of these has its own endorse actions, such as restructure groups, adapt compensation structures, or changing ... Read More

Consumerism and Environmentalism are often viewed as mutually opposing constructs. While consumerism emphasizes on the accumulation and consumption of material resources, environmentalism advocates resource conservation and long-term sustainability.Philip Kotler defines consumerism as a "social movement seeking to augment the rights and power of buyers in relation to sellers" (1972).ConsumerismConsumerism is the belief that personal wellbeing and happiness depends to a very large extent on the level of personal consumption, particularly on the purchase of material goods. The idea is not simply that wellbeing depends upon a standard of living above some threshold, but that at the centre of happiness is ... Read More

What is Demarketing?Demarketing is a process in which a company develops strategies to reduce the consumption of a product. While traditional marketing often encourages customers to purchase more products, demarketing aims to limit a product's reach.Companies can use it in a variety of situations to control product use, price, or demand. They may use these strategies for many reasons, including to conserve resources or increase demand.Some of the different types of demarketing strategies are as follows −General DemarketingA company may adopt a general demarketing strategy when they want to reduce the consumption of a product for all users. This can ... Read More

Marketing Ethics: Definition and RoleMarketing Ethics can be defined as the set of guidelines and the area of applied ethics that act as a guiding light behind the scope of marketing. Some of the areas of marketing ethics overlap with the ethics of media as they both are co-related.Marketing ethics and the standards laid out guide organizations to do "the right thing." These standards are instrumental in identifying acceptable practices, fostering internal control, and dealing honestly and fairly with customers. They also ensure that the businesses have complete compliance with the law. Companies can at times develop and publish their ... Read More

What is Customer Adoption?You hope that when you release new products, services, tools, or features, your consumers will want to upgrade, purchase, or integrate the new product into their workflow. That is exactly what customer adoption implies. It is about assisting customers in adopting new products and services.Customer adoption is defined as the process through which a customer learns about a new product/service, expresses interest in it, evaluates it, tests it, and ultimately purchases and uses it as intended.Five stages in the process of adopting a new product are as follows −AwarenessThe goal of the first stage is to raise ... Read More

The concept of public policy marketing could allow governments to "sell" their policies to citizens through non-commercial marketing interactions that are unique to the public sector. Then, social behavior should be viewed as citizens' reciprocation, contributing to the government's desired social outcomes. Public policy marketing is predicted to improve the implementation of government policies when citizen behavior is important to success.Following are the key Public Policy Principles in Marketing −The Principle of Consumer and Producer FreedomConsumers and producers should have as much freedom as possible when it comes to marketing decisions. If a marketing system is to produce a good ... Read More