Marketing@ psychology Essay Example | Topics and Well Written Essays - 1000 words

Marketing@ psychology - Essay Example The situation presents great market potential which is yet to be fully exploited. Consumers ought to have an easy time when looking out for information in addition to wise decision making as regards to online shopping. There are quite a number of online shops on the internet. This scenario presents varying alternatives for the consumer to choose from. Furthermore, the internet provides numerous levels of information control over the same medium. The authors have therefore developed this study with an aim to examine this particular characteristic relative to the consumers’ ability to make wise decisions when shopping online. A relevant hypothesis in this case is that the level of information control ought to be in tandem with the level of motivation in order to enhance the quality of online consumers’ decisions. A common observation has always been that consumers who are highly motivated tend to look up for relevant information. Consequently, the higher the degree of inf ormation control, the higher the chances of proper decision making by consumers. On the other hand, consumers who are lowly motivated are not willing to search for information. The authors through the study have employed an experimental type of methodology. A total of 171 participants took part in the experiment voluntarily. At the end of the day, the results revealed that consumers who are highly motivated tend to make better decisions on condition that information control is maintained at high levels. The results also revealed that low-motivation consumers made better decisions relative to low levels of information control as compared to high levels of information control. In conclusion, the results reveal great support for the study’s hypothesis. 2. Schuldt, J.P., and Koonrath, S.H. (2012). The Right Angle: Visual Portrayal of Products Affects Observers’ Impressions of Owners. Psychology and Marketing, 29(10), 705-711. Schuldt and Koonrath (2012) assert that the obs ervers’ impression of product owners have for a long time been influenced by consumer products. Advertisements play a vital role with regard to portraying the image of a product. Consumers are known to make their purchase decisions on the basis of advertisements. It follows that a consumer will be attracted to a more appealing advertisement thus his/her decision to purchase the product or not. However, the angle of visually portraying the products in advertisement may be overlooked. The authors base their study on the hypothesis that portraying a similar product from different points of view can result into various associations as regards color impressions of the owner and product in analogous ways. The authors have also drawn lessons from the first study which indicated how Sport Utility Vehicles (SUV) were rated ahead of sedans on the basis of their power related traits. The SUV can be termed as a dominant and powerful type of automobile. Such associations work to influence the impressions on the owners of the products. In this case, a person who owns an SUV has a higher status as compared to another who owns a sedan as much as the two are relatively costly commodities. In other words, the society closely associates with the SUV owner thus easily respects the owner. This suggests that visual portrayal goes beyond product evaluation such that more specific impressions relating to their respective owners. Lastly, primed traits usually affect impressions as long as they are

Professional Ethics Essay Example | Topics and Well Written Essays - 1500 words

Professional Ethics - Essay Example It outlines the implications of such behavior and also discusses professional etiquette. Implications of Conflicts of Interest Conflict of interest in the tender management industry is illegal and may lead to prosecution of individuals or companies that intentionally benefit from the conflict. It leads to award of tenders with total disregard of merit and hence some qualified companies may not have a chance to undertake the work that they are competent in. In most cases, tenders awarded on the basis of conflicts of interest eventually fail or the expected outcome is not realized. According to Worthington & Goldsman (1998), the success of a project depends on the sincerity of the involved parties to satisfy the needs of stakeholders. Conflicts of interests lead to the pursuance of individual benefits while ignoring public interest. The preferred bidder in such a process may quote low prices and eventually end up requesting for additional funding with excuses of high cost of materials or high inflation thereby increasing the cost of a project. Such bidders are to blame for many projects that have turned in to white elephants, yet there might have been genuine bidders who would have accomplished the work at a lower cost (Keyes, 2004). In an economy, companies that do not win contracts as a result of conflicts of interest may become bankrupt in the long-run (O’Connor, 2007). On the other hand, those that are awarded tenders due to their political influence end up having no competitor and therefore they relax in terms of quality standards. A significant loss is experienced in the economy with regards to the desired impacts of the project, while on the other hand such practices promote corruption. Oyer (2005) observes that conflicts of interest in the management of tenders in the Philippines have led to an economic decline that has seen the country being overtaken by Thailand despite of having been ahead of it in the last five decades. In the economies where c onflicts of interest are pronounced, transparency and accountability are concealed from public scrutiny. To avoid the undesirable consequences of conflicts of interest, those involved in tender management should be thoroughly researched to establish if they are personal interests that may hamper the tendering process. Any relationship between the client and bidders needs to be investigated to thwart conflict (Gallagher, 2005). If a person in the tendering process is found to promote conflicts of interest, he/she should be disqualified from participating. In some instances when disqualification of a person is impossible, a conflict of interest can be managed through involving a third party to control the conflict. However, setting up of a code of ethics in tender management is the most significant tool to guide the tendering process. This is because if the code of ethics is adhered to, it can promote professional etiquette thereby preventing extra-professional affairs that may cause conflicts of interest (Ferrell & Fraedrich, 2009). Professional Etiquette Professional etiquette is a scheme of rules and principles that standardize social and professional conduct. In any organization, there are certain set of rules and behaviors that are recognized to have a positive influence on an organization’s strategic objectives. Each position in a bureaucratic organization is guided by principles that are endorsed by