Industry WIKI

Administered prices are prices of goods set by the internal pricing structures of firms that take into account cost rather than through the market forces of supply and demand and predicted by classical economics. They were first described by institutional economists Gardiner Means and Adolf A. Berle in their 1932 book The Modern Corporation and Private Property. As Means argued in 1972,

Consumer behaviour is the study of individuals, groups, or organisations and all activities associated with the purchase, use and disposal of goods and services. It encompasses how the consumer's emotions, attitudes, and preferences affect buying behaviour, and how external cues—such as visual prompts, auditory signals, or tactile (haptic) feedback—can shape those responses. Consumer beh

Ernest Dichter (14 August 1907 in Vienna – 21 November 1991 in Peekskill, New York) was an American psychologist and marketing expert known as the "father of motivational research". Dichter pioneered the application of Freudian psychoanalytic concepts and techniques to business — in particular to the study of consumer behavior in the marketplace. His ideas significantly influenced advert

Karl Gunnar Myrdal ( MUR-dahl, MEER-; Swedish: [ˈɡɵ̌nːar ˈmy̌ːɖɑːl]; 6 December 1898 – 17 May 1987) was a Swedish economist and sociologist. In 1974, he received the Nobel Memorial Prize in Economic Sciences along with Friedrich Hayek for "their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social a

Mass marketing is a marketing strategy in which a firm decides to ignore market segment differences and appeal to the whole market with one offer or one strategy, which supports the idea of broadcasting a message that will reach the largest number of people possible. Traditionally, mass marketing has focused on radio, television and newspapers as the media used to reach this broad audien

In machine learning, a neural network (NN) or artificial neural network (ANN) is a computational model inspired by the structure and functions of biological neural networks.

Neuromarketing is a commercial marketing communication field that applies neuropsychology to market research, studying consumers' sensorimotor, cognitive, and affective responses to marketing stimuli. The potential benefits to marketers include more efficient and effective marketing campaigns and strategies, fewer product and campaign failures, and ultimately the manipulation of the real

The norm of reciprocity requires that people repay in kind what others have done for them. It can be understood as the expectation that people will respond to each other by returning benefits for benefits, and with either indifference or hostility to harms. The social norm of reciprocity may take different forms in different areas of social life, or in different societies. This is distin

Outgroup favoritism is a social psychological construct intended to capture why some socially disadvantaged groups will express favorable attitudes (and even preferences) toward social, cultural, or ethnic groups other than their own. Considered by many psychologists as part of a variety of system-justifying motives, outgroup favoritism has been widely researched as a potential explanati

Values scales are psychological inventories used to determine the values that people endorse in their lives. They facilitate the understanding of both work and general values that individuals uphold. In addition, they assess the importance of each value in people's lives and how the individual strives toward fulfillment through work and other life roles, such as parenting. Most scales