Administered Prices and Open Market Prices

4460 Words Mar 29th, 2011 18 Pages
TOPIC: ADMINISTERED PRICES AND OPEN MARKET PRICES: ANALYSE WITH THE HELP OF CONSUMER BEHAVIOUR.

SUBMITTED TO:
MR.MANDEEP SINGH SUBMITTED BY: SABA MASOD ROLL NO: B43 Sec :-sm1001 Index
1.Introduction
2. Review of literature
3. Administered price and consumer behaviour.
4. Open market price and consumer behaviour. 5. Alternative price mechanism and
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Without it, a panel of experts set up to ‘rationalise production’, likely closely linked to the cobblers for expertise, would tend to support the cobblers interests in a ‘conspiracy against the public’. If this happens to all industries however, everyone would be worse off than if they had been subject to the rigours of competition (economics).
INTRODUCTION OF CONSUMER BEHAVIOUR
Consumer behavior is "The study of individuals, groups, or organizations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society
The study of consumers helps firms and organizations improve their marketing strategies by understanding issues such as how
• The psychology of how consumers think, feel, reason, and select between different alternatives (e.g., brands, products, and retailers);
• The psychology of how the consumer is influenced by his or her environment (e.g., culture, family, signs, media);
• The behavior of consumers while shopping or making other marketing decisions;
• Limitations in consumer knowledge or information processing abilities influence decisions and marketing outcome;
• How consumer motivation and decision strategies differ between products that differ in their level of importance or interest that they entail for the consumer; and
• How marketers can adapt and improve their