Income Of Buyers Research Articles

ВПЛИВ МАРКЕТИНГОВОГО ЦІНОУТВОРЕННЯ НА ПОВЕДІНКУ СПОЖИВАЧІВ

The psychological aspects of consumer behavior were studied, taking into account the influence of the principles of marketing pricing. Various types of consumer behavior on the market and factors affecting it during the purchase of goods are considered. It is noted that the importance of price as a factor in making a purchase decision among consumers is quite high. In the perception of a significant share of consumers, price is an indicator of the quality of a product or service. The higher the buyer's income level, the more often he believes that price is directly related to quality. The considered features of the attitude of consumers to changes in the price level indicate that, depending on the nature of needs, the goals of purchasing products, the motivation of behavior, the level of supply and the influence of other factors, their behavior on the market may manifest itself in different ways. However, there is a certain sequence in these actions, which requires a study of the nature of its manifestation of actions in the process of making a decision by the consumer regarding the purchase of the product and its further implementation. Coordination of the general offer of the enterprise with the requirements of buyers for the quality of goods and their prices is the basis of its success in the sale of products. Taking this into account, the algorithm for forming a consumer's purchase decision when the company's price level changes has been improved. When adjusting the price level, special attention should be given to determining the degree of consumer satisfaction with the company's products, to studying the dynamics and forecasting the level of market prices for similar types of products, to studying competition trends in the market, to analyzing the dynamics of product sales volumes and profits. At the same time, it should focus on ensuring competitive advantages in the market with the help of a new price. The main psychological methods of marketing pricing are described. It is noted that in order to achieve higher efficiency, enterprises need to combine pricing methods, applying a complex situational approach.

Research of the factor dependence of egg and egg products consumption in the subjects of the Russian Federation

Importance of consummating eggs and egg products in the diet of the population is determined by their high nutritional value. An egg contains a complete animal protein, it has consumer accessibility (both economic and physical) and prevalence in food markets regardless of the territory. The widespread availability (both assortment and price) of eggs and egg products to some extent can compensate for the deficit in consumption of other types of livestock products, which are often not available for socially vulnerable groups of the population with a low level of income. This food group is one of the most valuable products in the structure of rational consumption that meets the modern requirements of a healthy diet, which is reflected in the relevant Recommendations of the Ministry of Health of the Russian Federation [1]. The conducted research is based on the analysis of the main parameters of eggs and egg products’ consumption. The emphasis is made on the study of statistical information on the number of the living population; the prevailing average per capita money income; consumer average retail prices for the specified food group; the level of consumption, its compliance with a rational level that meets modern requirements for healthy nutrition in equal subjects of the Russian Federation, both in the region, territory, republic, autonomous okrug, autonomous region, and in cities of federal significance: Moscow, St. Petersburg, Sevastopol. The result of the study was confirmation of the direct dependence of the reduction in the consumption of eggs and egg products as a result of a decrease in the population's income. The territorial aspect also indicated the existence of such dependence. All this allows us to assert that the fundamental factor affecting the level of consumption of eggs and egg products is the economic affordability of the food group, which depends on the income of buyers [11; 13].

The Influence of Expenditure Behaviour Towards Homeownership

Homeownership becomes the dream of all households. It requires proper planning on the buyer's income and expenses. The different level of household expenditure often influences the allocation of money for house purchasing. Hence, various types of household expenditures have been studied to see how far they may affect the current income and homeownership. A mixed-method was adapted to completing the study. A study sample was obtained through the questionnaire survey among respondents residing within Klang Valley region. The analysis was conducted using the correlation technique. The results show that all categories of expenditure are significant and have a high impact on the status of homeownership.

Housing (In)Equity and the Spatial Dynamics of Homeownership in France: A Research Agenda

AbstractThis paper advances a research agenda on how asset‐based welfare policies, residential market volatility, stratified accumulation and vulnerability impinge upon the geography of inequality in property markets. Since the mid‐1990s, housing prices have increased faster than the income of buyers, becoming a driver of social polarisation and household vulnerability. Few studies have however explicitly linked socio‐spatial inequality to asset capitalisation, instability and vulnerability in residential housing markets. We employ an empirically‐grounded investigation of the factors driving and reinforcing these dynamics, what we conceptualise as a feedback loop mediating particular housing finance regimes. Drawing on three French cities (Paris, Lyon, and Avignon) our study develops a comparative framework to interpret the relational effects of price, equity and homeowner vulnerability on the production of inequality across different geographical scales. Our approach puts into conversation debates concerning housing markets, social inequality, and ordinary financialisation in the period since the Global Financial Crisis.

Home Prices and Income in the UK: Uncovering an Elusive Relationship Through Accounting for Nonlinearities.

Asset prices and fundamentals can move apart, as during bubble episodes. However, in the long run, they should exhibit a stable relationship. For UK housing, previous studies have investigated whether home values share a long run relationship with income. However, results thus far have not yet found such stability in the interaction between the two variables. These previous papers have imposed linear adjustment on the relationship. Nonlinear adjustment, however, has been shown to be a feature in a number of housing market relationships. Determining which variables are the most important fundamentals and attaining proper measurement present challenges in such an investigation. In this study, we utilize a data set consisting of home prices relative to first time buyer income for the UK and its thirteen constituent regions, which gives us a direct measure of affordability. Following previous studies, we test for the stationarity of the home price/first time buyer income ratio with linear tests, and, as in past studies, fail to find a long run relationship. However, we then employ the nonlinear Enders Granger test, and find a stationary relationship between home values and income for the UK and seven of the thirteen regions. In particular, the regions closest to London appear most clearly to have a stationary relationship between home values and income.

Racial and ethnic price differentials in the housing market

Do minorities pay more than whites for similar housing? We revisit this important question using a rich new dataset that covers two million repeat-sales housing transactions drawn from four major metropolitan areas. Our analysis applies a repeat-sales framework, including house and neighborhood-by-time fixed effects to control for unobserved differences in the quality of homes and their associated neighborhoods. In contrast to most of the recent literature, we find that black and Hispanic homebuyers pay premia of around 2% on average across the four cities – differences not explained by variation in buyer income or access to credit. We also show black and Hispanic buyers pay more for housing regardless of the race or ethnicity of the seller, suggesting that the estimated premia are unlikely to be driven by a very direct form of racial prejudice. Our estimates have implications for the levels and persistence of racial differences in home ownership, the segregation of neighborhoods, and the dynamics of wealth accumulation.

THE ISSUE OF VALUE IN ECONOMIC THOUGHT — PART 1: THE EVOLUTION OF VIEWS FROM THE 5TH CENTURY BC TO THE MID-19TH CENTURY

This paper is devoted to the evolution of views on the category of value, which for more than two thousand years has been recognized as one of the most important economic concepts. It appeared in the literature thanks to Herodotus in the 5 th century BC. Aristotle distinguished use value and exchange value, and demanded the exchange of goods of equal value. St. Thomas Aquinas argued that prices of traded commodities should be of equal value, and that this value is determined by the amount of labour, production costs, needs and income of buyers, as well as the amount of goods offered for sale. W. Petty found that the amount of labour determines the value of goods. The views of the aforementioned thinkers were developed by J. Locke, J. Steuart Denham and R. Cantillon, the last of whom pointed out that market prices oscillate around the proper value of affected goods. For A.R.J. de Turgot, the purchasing power and needs determine the value set by contractors. However, G.F. Le Trosne acknowledged that proper value is determined by use value, production costs and the abundance of things. These views on the objectively existing value of exchanged products were taken over and developed by A. Smith and D. Ricardo, who made value the foundation of the scientific system of economics. This role of the theory of value in economics was not undermined even by the critics of the classical school, including K. Marx, A.H. Muller, and H.Ch. Carey, although for K. Marx, as for D. Ricardo, the theory of value was an element that integrates the whole theoretical system. In turn, the precursors of the subjective-marginal movement, among others, F. Galiani, E.B. de Condillac, A.A. Cournot, and J.M. Hoene-Wronski made the value of goods dependent on the subjective feelings of individuals satisfying their needs or performing work.

Residential properties, resources of basic education and willingness price of buyers

Purpose– China's resource allocation mechanism in education has become an important factor in determining residential access to educational resources. The purpose of this paper is to analyze the impacts made by the individual natures of buyers, the external environment, as well as the characteristics of residential properties on the willingness price of buyers. The study's aim is to lay theoretical foundations for the determination of problems related with the matters under consideration.Design/methodology/approach– Using the panel data of 54 districts and counties in Beijing, Shanghai, Guangzhou and Shenzhen, the study unifies macro factors and micro factors in a model for empirical analysis.Findings– Basic education resources can affect housing prices via the “capitalization of education.” The degree of those educational resources’ influence on willingness price changes according to personal income levels, standards of living, housing price fluctuations, the convenience of the residential area and the degrees of urbanization in a district. The greater the buyer's income and standard of living is, the higher is their willingness price. Buyers in urbanized areas prefer increases in educational resources. Increased educational resources increase the values of residential downtown areas. In developed areas with private educational facilities, the role of educational resources in influencing property prices is relatively small.Originality/value– This paper uses data concerning the consumption and investment of residential properties to build a theoretical model for the willingness price of buyers. It unifies macro factors and micro factors in a single model and presents new results about basic education resources and the willingness price of buyers under different conditions.

Clientele Effects on the Demand For Housing Price Appreciation

If house buyers are segmented by income, one might expect to observe buyers in such markets valuing the benefits of expected capital gain differently. Presumably, individuals experiencing higher marginal tax rates should be inclined to pay relatively more for anticipated capital gain since the opportunities of sheltering such income from taxation are greater. This paper attempts to identify a proxy for expected capital gain by using the hedonic price methodology to predict a recent price series for each housing unit in a sample of sales. That proxy is then used to determine an individual buyer's marginal willingness to pay for anticipated price appreciation. The results indicate that one cannot reject the joint hypothesis that homebuyers naively extrapolate from prior implied price performance to establish future price expectations and the variation in willingness to pay for that expectation may be a function of the buyer's income. This suggests the existence in housing markets of a phenomenon termed the clientele effect. This effect has been the subject of considerable examination in the finance literature.