Business Forecasting : Consumer Behavior For Green Products

1876 Words Apr 22nd, 2016 8 Pages
Econometrics and Business Forecasting - Consumer Behavior for Green Products

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Date: Introduction Consumers in the 21st century have become more aware and well informed about the products they purchase in the market. There is unlimited access of this information to the public with platforms such as the social media and the internet playing a crucial role in increasing access to information. Further, most of the products in the market today can be customized. However, the demand for eco-friendly and green products has significantly increased in the market. Green products are defined as products that are eco-friendly and safe to use (Mazar and Zhong, 2010). Customers also want products that are of reasonable price and not harmful to their environments and their families.
Objectives
1. To evaluate the effect of price on the consumption of green products
2. To analyze the impact of green products marketing on the consumption of green products
Literature Review The markets for green products have continued to expand and replace the pollution-generating products in the global economy. This significant increase in the consumption of these products is because of the close relationship between the green products and reduction in pollution in the markets. Before consumers purchase any products, they evaluate the different aspects of the product they want. One of the elements that stand out is the evaluation on whether the…
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