Behavioral Aspects of Pricing

Buyers sometimes exhibit seemingly “irrational” behavior with respect to prices and use socially embedded heuristics to simplify their purchase decisions. In some cases small changes in prices can lead to much larger than anticipated changes in sales and profitability. Sellers need to understand the heuristics consumers use, the situations in which they emerge, and recognize how they can respond in markets where information and knowledge of product attributes and competitive prices is increasingly available via the Internet. This chapter explores consumers’ behavioral reactions to price through a review of contemporary literature in the field of pricing. The chapter delineates the nature and scope of these effects based upon a critical review of the most up-to-date empirical research in the field, and concludes by providing implications for innovation in pricing, and guidance for managers to reduce the disconnect between themselves and consumers

Reducing Household Water Consumption: A Social Marketing Approach

There is increasing pressure for society to move towards more sustainable use of its resources, and calls in the literature have been made to reassess marketing’s role in achieving such goals. This research examines how key behavioural factors influence household water use, in the context of a social marketing programme to reduce household water consumption. A model of the key drivers of household water consumption is developed and tested using a sample of 909 households in a regional city in Australia. The findings from this study support the model developed and show that in the absence of price as a rationing mechanism, the social marketing programme significantly reduces household water consumption. Statement of contribution: This is the first study to develop a comprehensive and empirically tested model of the non-price drivers of household water consumption, within the context of a social marketing intervention. The findings make a contribution to the field of consumer behaviour and social marketing by illustrating key behavioural drivers of water consumption. Consequently the study also shows how marketers can assist in preserving essential goods and services such as water

Density waves in the shearing sheet I. Swing amplification

The shearing sheet model of a galactic disk is studied anew. The theoretical description of its dynamics is based on three building blocks: Stellar orbits, which are described here in epicyclic approximation, the collisionless Boltzmann equation determining the distribution function of stars in phase space, and the Poisson equation in order to take account of the self-gravity of the disk. Using these tools I develop a new formalism to describe perturbations of the shearing sheet. Applying this to the unbounded shearing sheet model I demonstrate again how the disturbances of the disk evolve always into `swing amplified' density waves, i.e. spiral-arm like, shearing density enhancements, which grow and decay while the wave crests swing by from leading to trailing orientation. Several examples are given how such `swing amplification' events are incited in the shearing sheet.Comment: small corrections, uses new A&A style fil

Void formation in resin transfer moulding

In recent years interest has grown in the use of composite components within the automotive industry. Fibre reinforced plastic (FRP) components are of particular interest to the industry, since lower tooling costs and part consolidation can be utilised, whilst lighter, stiffer components can be produced. Several methods are available to produce FRP components at high volumes, including compression moulding (using dough and sheet moulding compounds), reinforced reaction injection moulding (RRIM) and liquid moulding processes (resin transfer moulding (RTM) and structural reaction injection moulding (SRIM)). RTM is a closed mould process, which is widely used to produce components economically in low volumes using matched moulds to produce two good surfaces. The absence of a high volume manufacturing technology, however, has impeded the acceptance and advance of RTM within the automotive industry. A research programme was established at the University of Nottingham to address the problems associated with the use of RTM for high volume manufacture. This programme has considered the topics of process technology, processing characteristics of polyester resin systems and fibre preforms, fibre wet-out and interfacial bonding, mould design, microwave pre-heating of reactive resin systems and process modelling. This thesis concerns the research which was undertaken to identify the causes of void formation during the impregnation and polymerisation stages of RTM, and methods of reducing the final void content within the component. The impregnation phase of the RTM process was identified as being the stage where the majority of voids were formed. A study of oil impregnation (having a similar viscosity to that of resin) into reinforcement was undertaken to determine the reasons for uneven flow and air entrapment. The dry reinforcements were studied to assess the microstructure of the preforms in order to determine reasons for obstruction of the resin flow. Fabric stitching, thermoplastic binder and size deposits were identified as potential causes of flow impediment. Fibre orientation and preform stacking were also assumed to assist in the development of uneven flow, leading to air entrapment. A major factor determining the formation of microvoids within fibre bundles was identified as the transverse impregnation of resin into high Tex fibre bundles. The major moulding process variables of injection pressure, vent pressure, fibre volume fraction, mould temperature and resin pre-heating have been assessed, to determine their effect on the void content within unidirectional and CFRM reinforced polyester laminates. It was observed that vacuum assistance during impregnation reduced void formation, although higher exotherm pressures and the possibility of monomer boiling arise from its use. A simple impregnation model was developed to assess the microscopic impregnation rates between fibre bundles, in the capillary between fibres and transversely into fibre bundles. The results from this model were compared with actual moulding histories. The findings of the overall work are discussed and suggestions proposed for the reduction of void content in RTM automotive components

Pricing and Consumers in a Changing World

This chapter will explore key behavioral aspects of pricing, drawing on links to the rapidly changing world of technology. Specifically, the chapter will begin by contrasting traditional perspectives on price with more contemporary perspectives on price; it will then examine the notion of perceived value and its multifaceted nature. The chapter will then outline the key behavioral aspects of price including internal and external reference prices, pricing and consumer perceptions of fairness, price endings, decreasing and increasing price, price–quality perceptions, and consumer price knowledge

Being smart and being green : Entrepreneurial innovation in challenging times

In difficult times business operators are looking for clever and affordable ways to grow their enterprises. This paper seeks to make a contribution to a better understanding of proactive environmental and innovation strategies for SMEs and the interaction between demand and supply towards sustainable and innovative business practices. The paper discusses the combined outcomes of the exit survey of a greening small business 2008 pilot program and the entry survey for the 2009 online training and networking version of the program, which fuses environmental, business and ICT- enabled skilling to enhance both SME entrepreneurship and innovation. The study suggests that SME business sustainability cannot be reduced to an oversimplified business case and that pro-environmental strategy adoption and behaviour, and particularly behavioural change, is highly complex. The outcomes of this research are expected to contribute to good practice in environmental and innovation skilling for SMEs, especially skilling that differentiates between supply and demand side skilling and brings together the two sides in a proactive resource acquisition, knowledge transfer and networking environment

The influence of national and organizational culture on absorptive capacity of Chinese companies

The paper reports on a research study of knowledge acquisition by Chinese firms involved in collaborative ventures with foreign enterprises. The study uses 152 Chinese businesses and examines how absorptive capacity (ACAP), as conceptualized by Cohen and Leventahl (1990) and modified by Zahra and George (2002), and national and organizational culture differences, affect the transfer of knowledge between Chinese firms and their international partners. The study uses a multivariate modeling approach to examine the impact of a number of factors on successful knowledge transfer. It finds that ACAP has a significant effect on successful knowledge transfer but that the relationship is significantly modified by cultural differences and inter-firm communications. Culture per se does not influence knowledge transfer directly but does so through its impact on communications channels and institutions. Knowledge management practices and organization are also able to impact successful knowledge transfer.C

Void formation in resin transfer moulding

In recent years interest has grown in the use of composite components within the automotive industry. Fibre reinforced plastic (FRP) components are of particular interest to the industry, since lower tooling costs and part consolidation can be utilised, whilst lighter, stiffer components can be produced. Several methods are available to produce FRP components at high volumes, including compression moulding (using dough and sheet moulding compounds), reinforced reaction injection moulding (RRIM) and liquid moulding processes (resin transfer moulding (RTM) and structural reaction injection moulding (SRIM)). RTM is a closed mould process, which is widely used to produce components economically in low volumes using matched moulds to produce two good surfaces. The absence of a high volume manufacturing technology, however, has impeded the acceptance and advance of RTM within the automotive industry. A research programme was established at the University of Nottingham to address the problems associated with the use of RTM for high volume manufacture. This programme has considered the topics of process technology, processing characteristics of polyester resin systems and fibre preforms, fibre wet-out and interfacial bonding, mould design, microwave pre-heating of reactive resin systems and process modelling. This thesis concerns the research which was undertaken to identify the causes of void formation during the impregnation and polymerisation stages of RTM, and methods of reducing the final void content within the component. The impregnation phase of the RTM process was identified as being the stage where the majority of voids were formed. A study of oil impregnation (having a similar viscosity to that of resin) into reinforcement was undertaken to determine the reasons for uneven flow and air entrapment. The dry reinforcements were studied to assess the microstructure of the preforms in order to determine reasons for obstruction of the resin flow. Fabric stitching, thermoplastic binder and size deposits were identified as potential causes of flow impediment. Fibre orientation and preform stacking were also assumed to assist in the development of uneven flow, leading to air entrapment. A major factor determining the formation of microvoids within fibre bundles was identified as the transverse impregnation of resin into high Tex fibre bundles. The major moulding process variables of injection pressure, vent pressure, fibre volume fraction, mould temperature and resin pre-heating have been assessed, to determine their effect on the void content within unidirectional and CFRM reinforced polyester laminates. It was observed that vacuum assistance during impregnation reduced void formation, although higher exotherm pressures and the possibility of monomer boiling arise from its use. A simple impregnation model was developed to assess the microscopic impregnation rates between fibre bundles, in the capillary between fibres and transversely into fibre bundles. The results from this model were compared with actual moulding histories. The findings of the overall work are discussed and suggestions proposed for the reduction of void content in RTM automotive components

Trust in rural areas

E

Managing community relationships, reputation and sustaining competitive advantage : The case of mining towns

An important issue currently facing the mining industry in Australia is the management and cost to the industry and other stakeholders of entry into and exit from towns and their communities. These costs can be environmental, social, economic, political or reputational. The ability of companies to engage the trust of communities, governments and investors is critical, and corporate reputation plays a significant role in this. For the industry to secure a long-term and sustainable future, it must have the technical, business and reputation assets to proceed in a cost-effective, environmentally acceptable and socially supportive way. The paper introduces the concepts of sustainability both at the corporate level and the regional town and community level. For the companies, there are important impacts on costs and efficiencies, an organisations ‘license to operate’, shareholder value and the trade off between dealing with environmental and social issues through prevention or retrofit and corrective measures. However, for the mining industry, possibly the most important aspect of this study is the ability of companies to get access to new sites at competitive cost. For mining companies sustainability has moved from mineral and environmental resources, to a greater emphasis on economic sustainability and community capacity building.E