Result of Survey About Consumer's Buying Preferences towards Essay

Result of Survey About Consumer's Buying Preferences towards Technological Goods Produced using Sustainable Business Practices - Essay Example II. Introduction Knowing the preference of a market or determining how will consumer respond towards a certain good is critical to a business success especially when it is about to introduce a product in the market. The information regarding the market’s preference, behaviour or response towards a certain product is critical because this will give the company an idea whether to push through with the product or not and if ever it will push through with the product, on how will it position itself in the market that would optimize its success. In the case of this paper, the research will determine the consumer buying preference towards technological goods produced using sustainable business practices. Albeit it is ideal to produce products using sustainable business practices, it is not yet known whether there will be a business incentive in terms of market acceptance in the market of Dubai towards green products. This paper will attempt to determine Consumer buying preferences t owards technological goods produced using sustainable business practices and if they are, what particular consumer demographics are susceptible to it so that a company can focus on a particular segment of the market to optimize its success. III. Description of methodology The information used in research paper came from primary data through the form of a survey. The survey had 40 respondents from the Dubai market. The demographics of the market are consumers age 30-60 above, who have a source of income of USD 20,000 to USD 59,000 that ranged from single people to couples with family. Suffice to say that the respondents were a fair representative of consumers of technological goods. The purpose of the survey however was to determine their preference towards technological goods produced using sustainable business practices. Albeit it is the ideal business practice, it is yet to be determined if sustainable business practice can translate to sales and ultimately profit. The survey came in the form of a questionnaire which requires respondents to indicate their age, gender, approximate annual income and civil status. The questionnaires were designed to be simple to easily determine consumer response towards technological goods produced using sustainable business practices. IV. Analysis of the data from the survey The result of the survey was an eye opener as well as encouraging. For one, there are already segments in the market who particularly conscious about the company’s business practice and in fact has a bearing in their purchase decisions. Survey result showed that the age group 35 to 39 and 40 to 44 strongly agreed that consumer should completely stop buying products that are unsustainable to the environment. This indicates that a particular segment in the market has a strong opinion about the environment friendliness of a product. This is being supported by another statistical data that these age groups are responsive to the environmentally sustaina ble practice of a company. Age group 35 to 39, 40 to 44 and 45 to 49 proved to be willing to pay extra as long as the product/s is/are environmentally friendly. They would also ask or inquire about the business practice of a company of which they deemed to be important in the decision making process of purchasing their electronic goods. Consumers also do not merely associate environment friendliness to energy consumption because respondents on all age group did

Modern Ethical Theories Essay Example | Topics and Well Written Essays - 750 words

Modern Ethical Theories - Essay Example It suggests that all our acts are motivated by our self interest. People act selfishly to promote happiness and foster their self interest. Thomas Hobbes, a believer of psychological egoism, emphasized that people are selfish unconsciously. They do things for their own interest or for their own survival. With this statement, it cancels its real essence if we talk about doing things for others. If we do things for other people, does it always means that we did it for our own interest That's the big argument now. According to Hinman, there are two interpretations about psychological egoism, it's either people act for selfishness or they act for their own interest. It may sound the same but between these two interpretations, there is a difference. It actually depends upon one's motive or the consequence the person gets doing things for other people. If we intend to do something good for other people, we did it because it satisfies us inside. It rarely happens for a person to act genuinely for it self. They even sometimes hide what's the real them. Instead, people act apparently in their self-interest. What is more vocal of a person is when it acts for a certain motive. The essence of psychological egoism cancels out when intentions comes in. It falsifies its real meaning if we consciously do something or intend something. If there are two interpretations of psychological egoism there are also two versions of ethi... l to promote one's good, it is essentially never moral not to do so-that is, there may be conditions in which the avoidance of personal interest may be a moral action. There are personal, individual, and universal ethical egoism. The first implies that a person does only his self interest and disregards the other person's behavior. The individual ethical egoism states that all people should serve my own interest and universal ethical egoism means that all persons should act exclusively for their self-interest. Among the three, the personal ethical egoism is the weakest. This kind of ethical egoism is not recommendable to others for what is important is your own interest. The strongest among the three is the universal ethical egoism. This states that you should only pursue your self-interest exclusively. Psychological egoism and ethical egoism is two different things. Psychological egoism emphasizes that human beings are selfish in nature. They don't notice it because it is subconscious. In contrast to this, ethical egoism is a kind of egoism which states that a person's action is done by the person's best self-interest. It may harm or benefit others. Ethical egoism is defined by an inherent desire to perform altruistic acts while psychological egoism is defined by inbuilt selfishness of all acts. Ethical egoism doctrines states that all persons must act to their own interest while the doctrines in psychological egoism stresses that a human's motivation of every voluntary action is a need for humans own happiness. The difference is between fact for psychological egoism and value for ethical egoism. With the two kinds of egoism we have there is a thin line between what is selfish and what self-interest is. We can say that humans are being selfish because we claim for