Curry Powder Indusrty

INDUSTRY PROFILE India is a place that is known for flavors where numerous assortments are developed in the various locales of the nation. The individuals of the nation are enamored with hot food so the flavors are the most significant fixing in any Indian dish. The country isn't only the huge maker and shopper of flavors yet additionally a significant player in universal market, sending out the overflow and bringing in the shortage. Flavors assume a significant job in improving the flavor and taste of the handled nourishments. They are likewise utilized in the medications in view of their carminative, simulative and stomach related properties. India creates practically all the known flavors and is the biggest exporter of this item. Ground flavors are widely utilized in a wide range of curried dishes in India and abroad. In spite of the fact that flavors are exchanged primarily in a natural structure, a little yet critical amount enters global exchange as zest powders. Curry powder is the premier of those mixes or blends and once in a while comprises of at least 20 flavors intended to include the trademark kind of an Indian curry, which is valued everywhere throughout the world. Aside from the abroad market, prepared curry powder is getting well known in the residential market moreover. Thus the interest for unadulterated flavors and curry powder in alluring convenient bundling is quick rising. FOOD INDUSTRY IN INDIA In India, rural and dairy area have accomplished surprising triumphs in the course of the last three and half decades. Other than being one of the world’s biggest makers of food grains. India positions second on the planet in the creation of leafy foods and first in milk creation giving genuinely necessary nourishments security to the country. India is one of the world’s significant food makers however represents under 1. 5%of global food exchange. The estimation of the Indian food industry has expanded from 3. 09 trillion out of 1993-94 to Rs. 3. 99 trillion out of 2000-01. The fragment with biggest development potential have been distinguished as dairy, leafy foods and poultry. Food showcasing is an exceptionally managed industry. Guideline in food showcasing endeavored manages rivalry and monopolistic condition encourages exchange, secure buyers and straightforwardly impact food cost and quicker monetary and social advancement. India produces assortment of zest items. No nation on the planet delivers as much sort of flavors items as India creating. The Indian flavors and curry powder advertise assumes a significant job in the day by day life of Indians. Presently, curry powder businesses have a conspicuous job in food item industry in India INDIAN SPICES India is the biggest makers of flavors on the planet as the climate is obviously reasonable for the development of flavors. Flavors are developing in 28 states and 7 regional regions in India. Starting at now, India is delivering around 2. 5 million tones of different flavors esteemed around 3 billion US$ and holding a chief situation on the planet. Additionally India is the significant exporters of flavors on the planet under the propitious of India government possessed â€Å"Spices leading group of India†, which is the summit body for the fare advancement of flavors in India. This was set up in 1987. The board plays an expansive and compelling job as a turn of events, administrative and limited time organization for Indian flavors. In early days Indian individuals were put away the different sorts of flavors, for example, cold, turmeric, coriander, etc, for setting up the different dishes and sauces. These flavors were independently and mixing relies upon the idea of dishes. Flavors used to season with the assistance of indigenous devices at home by ladies, as that was the custom during that period. In course of time circumstances are changed, individuals are compelled to utilize electronic gadgets so as to diminish their household work. Reciprocally, they utilized readymade curry powders at their home. Step by step they have fallen in to a propensity for utilizing moment curry powders from the open market. Considered this circumstances a few firms were approached to dispatch curry powder enterprises. That is the reason curry powder enterprises were rising hugely everywhere throughout the nation. Starting at now curry powder ventures have a conspicuous job in Food industry in India. CURRY POWDER The name Curry powder today is interchangeable with the Indian food. The word curry is accepted to be conveyed from the South Indian Tamil World ‘Karhi’. During the British Raj in India, â€Å"curry† developed as the world depicted Indian food prepared in this flavors sauce. Throughout the years, the outsiders, particularly British who leaved or visited India . Gradually began to acquaint the curry with outside the world. The great business curry powder was elusive during the good 'ol days. Individuals needed to make curry powder without any preparation in the event that they needed quality. Notwithstanding, presently numerous great curry powders are effortlessly found in India just as western general stores. Curry powder is mix or blend of the various flavors, which concedes as indicated by geographic locales or individual inclination. CURRY POWDER INDUSTRY In the situation, economy displays high line of commercialization. The curry powder industry has seen the section of numerous organizations in the Indian market by siphoning enormous measure of capital so as to catch the piece of the overall industry. Anyway numerous local organizations have developed with different fascination items so as to beat the nation wide organizations and catching an enormous number of clients. On our perception the majority of the organizations are performing sufficiently for a specific brand to move quick in the market it needs to meet the 4 A’s. That is the market clients ought to know about it, ought to be a worthy, accessible and reasonable. Clearly, the fabricates ought to comprehend the need and needs of the client and gives complete fulfillment so as to prevail in the business world. Curry powder is a notable name among the Indian individuals. It is the mix of finely powdered flavors. For each dish there are diverse curry powder flavors. For each dish there are diverse curry powders however the fixings are pretty much the equivalent. Presently a day’s a large portion of the housewives are utilizing this instant curry powder thus the amount required is expanding step by step. So this is an industry by which another business person can begin without second however. Be that as it may, the makers should give consideration for catching the market. Presently days the urban individuals as well as have a furor for these instant curry powders. There is a decent market for curry powder in India and abroad. The significant players in the curry powder in India are; Eastern, Melam, Mangala, Saras, and so forth. As Kerala’s biggest maker of fixings, â€Å"Eastern Condiments (P) Ltd† has assisted with keeping the acclaimed zest course alive. With an encounter of more than 30 years in delivering flavors, they have given their shoppers reliably great powders and mixes â€Å"Melam† the word implies a different of instruments in amicability making a quick of outlandish and wonderful music. M. V. J. Nourishments (India) (P) Ltd. Cochin draws out an assortment curry powder and zest powder under the brand name Melam. The melam extend is huge and incorporates an incredible assortment of discernment. â€Å"devon, THE SPICE of life† deven nourishments gives a wide scope of sweet-smelling zest powders and curry powders for every single culinary need. They utilize just best quality flavors and procedure them in suitable condition. â€Å"Sara spice† is the topping creating unit of the Anna gathering. Organization is engaged with the creation and fares of Indian flavors. Like curry powder, Masala powder, Indian entire flavors since the previous two decades. CURRY POWDER MARKET Albeit Indian flavors have been on the planet showcase for a few centuries, the curry powder business, especially curry masala (blender, flavors) has not been abused by the Indian business people to a noteworthy degree. Fare of this item has not enlisted any critical development makers in un sorted out segment have ruled the household showcase, for curry powder and curry masala . Clearly the curry powder development enterprises brand advancement keeps on being noteworthy till as of late. Nonetheless, hardly any makers from the composed division have been advancing marked items in Kerala showcase as of late. Rivalry has gone to be forceful with the stagnation in the universal market. Creating of curry powder and curry masala are including in advertising systems to guarantee critical pieces of the pie in spite of the fact that in explicit fragment DOMESTIC MARKET The India showcase for curry powder is evaluated at Rs. 500 Cr. This is represent 25% of world utilization of curry powders. The curry powder showcase is assessed to associate with Rs. 150Cr, with estimated 35% of market in south India. The curry powder advertise in Kerala is evaluated at Rs 70 Cr. The market can be sorted in to 3 gatherings. * The excellent portion The medium fragment * Un composed division In the past section the significant brands in the market are Everest, Melam Saras and MDH . the examination done by different specialists delights that moast famous Brand in the superior portion is Everest with 30% piece of the pie . Melam had half piece of the overall industry, while different brads had an irrelevant offer i n the top notch portion. Be that as it may, the top notch makes up just 30% of the absolute market of curry powder in Kerala. The medium section comprise half of all out curry powder showcase, Easter is the market chief in the fragment. The disorderly portion comprises of 20% of the all out curry powder advertise. Worldwide MARKET Exports of flavors from India typically occur in mass structure. The fare of significant worth included items are not many, as none serious costs can't get by in the International market. Curry powder is esteem included zest item. the world utilization of curry powder is assessed to be 20000 metric tons in 2004, 2005. Fares of curry powder from Indian continue fluctuating between 2500 to 3500 metric tons . An examination of yearly fares of

Skype the Perfect Freemium Model Essay Example

Skype the Perfect Freemium Model Essay Example Skype the Perfect Freemium Model Paper Skype the Perfect Freemium Model Paper The ideal FREEMIUM model 11/24/2010 Petra Sanyova BCi08: fifth semester: e-Marketing The Freemium Model The term freemium is an instituted term, got from words ‘free’ and ‘premium’. This term represents a growing plan of action where organizations are making benefits from offering premium items to a little level of their all out clients. In spite of the fact that most of the clients isn't paying anything for the item, organizations despite everything has plausibility to be profoundly gainful, and they generally are. The business where just 5-10% of clients produce income couldn't run productively under conventional conditions. The change was brought about by various developments in the field of advanced creation, just as web appropriation. Because of these mechanical advances, organizations can duplicate and appropriate free items to numerous clients at exceptionally low expenses. Skype â€Å"Skype is programming that empowers the world’s discussions. † Millions of individuals make video or voice calls, send texts and offer documents through this program. Most of them do as such with no charge by any stretch of the imagination. The main essential, to have the option to utilize this product, is that the two gatherings who might want to impart need to have the program introduced and running. Skype was built up in 2003, with its central station being in Luxemburg. Its authors Niklas Zennstrom and Janus Friis are as yet fractional proprietors along with financial specialist bunch drove by Silver Lake (that additionally possesses eBay), the Canada Pension Plan Investment Board and Andreessen Horowitz. Since the foundation †the primary form of the program, Skype never halted to develop is as yet presenting new updates, highlights and so on. With regards to its locale, the Skype transformed from a little obscure program into a program utilized day by day by a large number of individuals with numerous highlights. Of late everyone is dazzled with the quantity of Facebook clients; in any case toward the finish of year 2009, Skype had 160 million more enrolled clients than Facebook, which in numbers is 560 million. As indicated by the quarterly updates the organization issues, it included 39 million enrolled clients in the last quarter of 2009 as it were. This represents 6% development rate in the development period of the item! 36. billion minutes of Skype-to-Skype calls were recorded in these most recent three months of 2009, adding to get 250 billion minutes of these calls recorded in general. Still in 2009 just, this number represented 12% of the world’s global calls. Around 23 million clients are signed into Skype at its pinnacle times. (I am signed in similarly as a compose this paper. ) Skype is universal progr amming, offered in 29 dialects and utilized nearly in each and every nation of the world. Skype offers an assortment of highlights to every one of its clients, with the principle include being Skype-to-Skype calls complimentary. To improve the customers’ experience while calling, it presented numerous extra highlights as: meeting calling, video calling and gathering video calling. In addition Skype is viably utilized for texting and sharing different documents; screen sharing included. One of the most recent presented highlights is called ‘Facebook News Feed and Phonebook’ which empowers clients to call companions straightforwardly from a Facebook News Feed and Phonebook in Skype. In spite of the fact that this everything is offered by Skype to its clients for nothing, it doesn't demonstrate company’s madness. Because items are free, doesn't mean organizations are not productive. Google is an incredible case of this; and anyway somewhat extraordinary, Skype is also. The fact of the matter is to widen the great perspective on a market from just two gatherings (purchaser and dealer) to more gatherings, from which just not many trade cash. The most widely recognized model is the three-party framework. The outsider pays to take an interest in the framework, the initial two made by a free trade between one another. The achievement of charging nothing for something lies in comprehension of the mental hole between ‘almost zero’ and ‘zero’. As the various individuals are expected to make nature, for others to pay for, it is fundamental to pull in however many individuals as could be allowed. While the expenses are inconsequential and free is a word engaging nearly everyone, parting with the item to 90% of clients is sensible. The rest 10% at that point comprise of the clients who settled on a top notch record and they create incomes. Pareto rule applies This is the situation of Skype as well. The outsider comprises of the top notch clients, who are really paying for extra highlights accessible in premium records. This gathering of clients records to 6% of its every dynamic client creating more than 777 million dollars per year. The extra highlights, they are then empowered to utilize are: Skype-to-landlines/mobiles, phone message, call sending, call move and content informing. The client additionally gets his/her own online number so the landlines/mobiles-to-Skype calls are then likewise conceivable. Skype explicit achievement can be licensed not exclusively to the extraordinary thought that is making people’s lives simpler, however to the manner in which its whole plan of action is set up: [ 1 ]. SKYPE plan of action Accomplices:- Phone makers Online Platforms| Key exercises:- Software advancement Integration with new stages Marketing| Value suggestion:- Free VoIP and video calling-Internet based communication| Relationships:- Appreciative client base-Thanks to free download-Automated with online profiles| Customers:- Not fragmented| | Key assets:- Software-Brand| | Distribution and securing channels: Online| | Cost structure:- Very low upkeep cost-Software development| Revenue streams/estimating:- Sale of complimentary things 7-8% change rate from free| What's more, no contention there, that it is set up splendidly. End Skype, along with Flickr and LinkedIn, is one of the best organizations, working under the freemium model. As was at that point referenced, Skype utilizes three-party model, in which the Pareto rule applies †little level of a clients pay to get a top notch, taking care of the expense of most of clients not charged and as yet producing the incomes. The purpose behind this is the right around zero upkeep cost, because of innovative progressions. For individuals to buy the superior records is significant that the framework made is steady and enormous enough, thus Skype is doing extraordinary employment in pulling in these fundamental clients. By giving the program for nothing and refreshing it routinely it doesn't make just enormous client base, yet a thankful one. As Skype is a program, which with its highlights, benefits the common clients and conceivably set aside them cash †this gathering is grateful. Being appreciative for Skype implies being faithful and having by and large inspirational perspectives towards the brand; which is another enormous resource of Skype. These days it represents a universal brand, which is generally perceived. In the event that organization can keep up the transformation proportion, stay well known and hand off the potential strings from new contenders or media transmission organizations; its manageability of the freemium model can be demonstrated.

7 Rings

7 Rings You guessed it, Im finally: And because there are literally so many, so so so many blog posts that talk about the tradition of the MIT brass rat, the ring design and what happens at ring delivery, Im going to skip past that. As surreal as it feels, Ive finished half of my adventure here at MIT.  Looking back at it all now, a lot has happened in the past two years. Ive been through a lot. Let go of a lot. Grown a lot. I like to think that Ive collected some diamonds through my time here. So heres to spoiling you with my riches: The Ultrium Its 100% ok to not be 100% prepared. Wave goodbye to the days of spelling lists and map quizzes. Sometimes, the information is too much, the pset is too long, the textbook is too complicated. You really cant know it all. And sometimes, knowing at least something is an accomplishment. The Extreme Silver Nothing beats a 11 pm food order. Seriously. Get that medium-sized banana pepper and pineapple pizza from Dominos. Or a small mango slush from Kung Fu Tea. Or a pineapple frozen yogurt with white chocolate chips on the top from Cafe 472. The Brass Its ok to take breaks. No, I dont mean put your work aside and stress about the things you have to do. I dont mean watch an episode of Gilmore Girls  either. Dont try to turn your mind off, but have it do something productive, but equally refreshing instead. Call up a family member or a friend. Go on a walk. Make yourself a smoothie. The Prism Explore the world around you often. Travel when you can. Take walks without your headphones on. Wake up to watch sunrises. Take naps in the grass. Go on spontaneous road trips. Stroll through city streets. Because nothing ever looks the same and every moment is its own. The Stealth Learn to spend time with yourself. Being alone and being lonely are two different things. Its ok to spend all Saturday in your room away from other people. Its ok to have a jam session all by yourself. Its ok to get a table for one.  Make time for self-care. It goes a long way. The 14K Rose Gold Dress up for exams. It does wonders to your self confidence. The 18K White Gold Take all the photos. Who cares if your dropbox is getting full? Itll make you smile years from now. Post Tagged #Brass Rat

Rhetorical Analysis Of George W. Bush - 982 Words

The Iraq war was an issue that started in 2003 that had taken over America. Citizens were conflicted with sending their own to a foreign country to solve an issue that had nothing to do with their own nation. Four years later into the war, Senator Barack Obama and his constitutes attend a meeting where Obama was to give a floor speech to George W. Bush. During the speech, Obama expresses the use of Aristotle’s Appeals, logos, pathos, and ethos, along with Kairos in order to convince the president to pull their troops out of Iraq. One of the main rhetorical devices Obama uses throughout the speech is pathos. He starts his argument off with a description of an ex-soldier. He explains how he is blind and how he has lost control of one arm due to the war. He follows up talking about his family and how they adapt to dad’s new lifestyle. Obama starts the speech off appealing to pathos. He creates an emotional connection between his listeners and our Iraqi soldiers. He also cr eates a sense of imagery by saying, â€Å"Too many have returned from Iraq with broken bodies and shattered nerves and wounds that even the best care may not heal†¦ come home shrouded in the flag†¦ moms and dads and husbands and wives have answered that knock on the door,† and it makes one reevaluate if it’s all worth it. He reminds us that we are fighting someone else’s war and that â€Å"Americans standing in the world is a precious resources not easily rebuilt.† Our lives are precious and we are wasting them on aShow MoreRelatedRhetorical Analysis Of George W. Bush s Speech1364 Words   |  6 Pages Rhetorical Analysis: 9/11 Address to the Nation When reading and watching our former president George W. Bush’s 9/11 Address to the Nation I found the speech to be ineffective. George W. Bush was president at the time of the 9/11 attacks, his speech started and ended efficiently with the appeal to pathos. Though its lack of logos overlooked this and made his speech unsuccessful. 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In the camp aign commercial, Obama artfully combines these rhetorical elements in this videoRead MoreRhetorical Strategies Analysis of Bill Clintons First Inaugural Address1007 Words   |  5 PagesRhetorical Strategies Analysis of Bill Clintons First Inaugural Address Introduction William Jefferson Bill Clinton served as the 42nd President of the United States from 1993 to 2001. He got authority at the end of the Cold War. During Cold War, in order to compete with the Soviet Unions military power, the federal government spent a great deal of financial resources to establish a powerful military. The quality of life of common people decreased year after year. At that time, peopleRead MoreGeorge W Bush s Presidency Essay2151 Words   |  9 PagesGeorge W Bush’s presidency can be associated with an infamous term that stood out from the State of the Union address, that term being ‘Axis of Evil’. 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Each president had different speeches analyzed and graphedRead MoreAn Analysis Using Rhetoric Expert s Advice Essay2277 Words   |  10 PagesAn Analysis Using Rhetoric Expert’s Advice On the morning of September 11, 2001, al Qaeda terrorists carried out a set of coordinated suicide attacks with four-hijacked passenger planes and killed around 3,000 people on American soil. The first two planes hit the World Trade center in New York and killed everyone on board and hundreds inside the buildings. Following this attack, the nation was informed by President Bush that these attacks were, â€Å"apparent terrorist attacks on our country† (http://wwwRead MoreThroughout history, mankind has often ventured to spread its faith to the non-believers of the2900 Words   |  12 Pagesaspect of United States foreign policy. During the Cold War, neoconservatives in the American polity did not advocate democratic promotion as a primary foreign policy agenda. (McClelland, 2011). 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What Do We Know About Autism Spectrum Disorder - 1390 Words

What Do We Know About Autism Spectrum Disorder? Actress Holly Robinson Peete once stated, â€Å"I m not a doctor or scientist. I m just a mom. But I do think there s a genetic predisposition, and there are environmental triggers. I feel like that combination, in my child s case, is what resulted in autism.† Holly Robinson could have not said it in a better way. What is the cause of autism? Is autism solely caused by genetics or a combination of genetics and environmental influences? What does make up autism spectrum disorders? With so much research by professionals, it is unknown how the cause of autism spectrum disorder is not yet identified; however, overwhelming support suggests that biological and environmental influences are the†¦show more content†¦There is no single medical test that can diagnose it definitively; instead, in order to accurately pinpoint your child s problem, multiple evaluations and tests are necessary.† Autism is a lifelong developmental brain-base disorder that affects a person form of communication, behavior and social skills. ASD share common effects of autism. Autism in a child can be recognized as early two months old. Early signs in a two month old may include, not responding to facial expressions or loud noises and putting their hands or feet toward their mouth. As a child grows older signs of autism began to show more. The effects in communication skills in those who have ASD may tend to be very verbal or nonverbal. In children language will begin to develop then stop. It is difficult for a person to engage in a conversation. They may also find it difficult to take turns in a conversation, or not understand humorous comments and are not able to pick up on innuendos. Some behavior effects of ASD are not being able to focus on many details, they tend to be preoccupied with a simple object and require stability and routine. Effects are also, rocking the body back and forth or flapping or clapping their arms and legs or both. Their senses may be sensitive or on overload. he effects of ASD in social interaction are difficulty in maintain eye contact, and reading facial expressions and their own facial expressions may not be easily read as well. They have difficulty with emotion

Econmet Paper Free Essays

Christian Benedict B. ARGA 11027614 AE-FIN A Study on the Effect of Inflation, Net Income, and Energy Use to the Fossil Fuel Consumption in the Philippines An Empirical Paper Presented to The Faculty of the School of Economics De La Salle University In Partial Fulfillment of the Requirements in ECONMET Submitted by: Christian Benedict B. Arga 11027614 Submitted to: Dr. We will write a custom essay sample on Econmet Paper or any similar topic only for you Order Now Cesar Rufino December 14, 2012 1 Christian Benedict B. ARGA 11027614 AE-FIN Table of Contents Introduction I. II. III. IV. Background of the Study Statement of the Problem Objectives of the Study Scope and Limitations Review of Related Literature I. II. III. Inflation Net Income Energy Use Operational Framework I. II. Variable Descriptions A-Priori Expectations Methodology I. II. Data Gathered Model Specifications Empirical Results and Interpretation I. II. Variable Analysis Critical Assumptions 2 Christian Benedict B. ARGA 11027614 AE-FIN 1. Multicollinearity 2. Homoscedasticity 3. Non-autocorrelation Remedial Measures and Adjusted Estimated Econometric Model I. II. Remedial Measures Adjusted Econometric Model Conclusions and Recommendations Bibliography Data Presentation 3 Christian Benedict B. ARGA 11027614 AE-FIN Introduction I. Background of the Study In this empirical paper, the researcher aims to know the effects of net income, inflation and energy use on the consumption of fossil fuels in the country. This project will allow the student to use various econometric concepts and a variety of tests to determine the factors that will allow him a practical approach on the subject. Fossil fuel as defined by Encyclopedia Britannica is â€Å"any of a class of materials of biological origin occurring within the Earth’s crust that can be used as a source of energy. It is a hydrocarbon containing natural resource that is not acquired from plants or animals. Fossil fuel is a general term for buried combustible geologic deposits of organic materials, formed from decayed plants and animals that have been converted to crude oil, coal, natural gas, or heavy oils by exposure to heat and pressure in the earth’s crust over hundreds of millions of years. The depletion of fo ssil fuel has been an underlying problem in our economy. Unlike energy coming from hydroelectric power plants or windmills, the energy acquired from fossil fuel cannot be renewed and is gone forever. Christian Benedict B. ARGA 11027614 AE-FIN II. Statement of the Problem As said earlier, fossil fuel is a non-renewable energy source. All countries in the world are trying their best to conserve their respective resources. The problem in this empirical project is that whether various factors such as inflation, net income, and energy use of the country has an effect on its consumption of fossil fuels. III. Objectives of the Study There are various objectives to this study. First is to find out whether inflation, net income, and energy use has an effect on a country’s consumption on fossil fuels. Second, is to educate the readers of this paper which of the independent variables affects the consumption of fossil fuel the most. And lastly, this paper aims to apply the various lessons learned in class to show the effects of the chosen variables on the fossil fuel consumption. 5 Christian Benedict B. ARGA 11027614 AE-FIN IV. Scope and Limitations The data gathered that was used in this project was limited and only allowed the researcher to gather up to 35 observations because some variables lack values for previous years. Because of this reason, the sample size is relatively small and cannot be compared to other countries for reference. Review of Related Literature I. Inflation Inflation is defined by Investopedia, as the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. Central banks attempt to stop severe inflation, along with severe deflation, in an attempt to keep the excessive growth of prices to a minimum. Inflation has affected the rate of many products at which they are consumed. For this project, we will find out if inflation has an effect on the consumption of fossil fuels. We want to find out if people would 6 Christian Benedict B. ARGA 11027614 AE-FIN consume more or less if the prices of fossil fuel has been affected by inflation. II. Net Income Net income, as learned in the student’s business subjects, is the money left after subtracting expenses and other deductibles like taxes and interest to the total revenue. We will observe if net income has an effect on fossil fuel consumption. Maybe, a higher net income may lead the consumer to consume more or perhaps, a lower net income may get the consumer to find other sources of energy which may be cheaper than fossil fuel. III. Energy Use Fossil fuel burning powers our vehicles and industries, heats and cools our buildings, and runs appliances. It also produces electricity that we use for all sorts of purposes, such as lights and computers. This is quite obvious because as we consume more energy, the more fossil fuel we burn and vice versa. 7 Christian Benedict B. ARGA 11027614 AE-FIN Operational Framework I. Variable Description The model will contain the following components, the dependent variable and the independent variables. The independent variables are those that are exogenous in nature. It is not affected by any variable contained within the model. The dependent variable, on the other hand, is endogenous in nature. It is affected by all the independent variables in the model. For this project, there will be three independent variables namely; inflation, netincome, and energy while the dependent variable will be fossil. Table 1 : Variable Description This is the independent variable. This is the fossil fossil fuel consumption of the Philippines from the years 1977 until 2011. It is expressed in percentage. 8 Christian Benedict B. ARGA 11027614 AE-FIN This is a dependent This is GDP variable. measured inflation by the deflator from 1977 up to 2011. This variable is expressed in the annual percentage. This is a dependent is the variable. This yearly total income of our country from 1977 until netincome 2011. We can see that the data has negative values. This is due to the data being in BoP expressed in US$. This is a dependent is the variable. energy yearly This energy of from the 1977 consumption Philippines until 2011. This variable 9 Christian Benedict B. ARGA 11027614 AE-FIN is expressed in kilotonnes. II. A-Priori Expectations The A-Priori is a smart justification before actual testing and analysis is done with the data. Given that the fossil fuel onsumption is the dependent/endogenous variable, we will take a look at the relationship of this with the independent/exogenous variables. This will be presented in the table below: Table 2: A-Priori Expectations Endogenous Variable: fossil Exogenous Variable Relationship Reason As inflation goes up, the prices of fossil fuel goes up too therefore, the consumption of fossil fuel w ill be reduced. People will try to find cheaper sources of energy and maybe renewable ones are a good try. inflation negative 10 Christian Benedict B. ARGA 11027614 AE-FIN netincome positive energy positive As netincome increases, there will be more money to spend therefore it may affect the consumption of fossil fuel positively. People will tend to buy more goods like food which requires electricity to cook. As energy consumption goes up, there will be more and more fossil fuel that will be consumed. Most of the world’s energy source comes from fossil fuels. Therefore, as people tend to consume more energy, more fossil fuel is going to be burned up. Methodology I. Data Gathered The data gathered has been acquired from the databank of the World Bank’s website. The data is from the Philippines dating back from 1977 until 2011. There are a total of 35 observations. This is due to the reason that some of the variables lack data from 1976 and further back. So to keep the consistency of this project, only 35 observations per variable has been used. This is to ensure that the 11 Christian Benedict B. ARGA 11027614 AE-FIN data is unbiased and comparable to each other. Presented in the table below is the data summary from Stata12: II. Model Specifications The regression model to be formed will be based on intuition, economic theories, conducted studies and research materials related to the objectives of this paper. The independent variables chosen will all be affecting the dependent variable, profits, proportionately; therefore, it is appropriate to use the lin-lin model or the linear-linear model. The estimated econometric model based on the A-priori expectations would look like this: fossil=? 1 +? 2 inflation+? 3 netincome+? 4 energy+U i 12 Christian Benedict B. ARGA 11027614 AE-FIN Empirical Results and Interpretation I. Estimated Econometric Model The summarization table earlier confirms that there are truly a total of thirty-five observations for each variable. The data can therefore be regressed and is comparable for there are equal numbers of observations per variable included in the estimated model. However, in order to determine the individual contribution of each variable, the values should be in terms of the same unit of measurement. The model has been transformed into the Log-Log model so that the data is comparable to each other. Stata12 generated the missing values. Using the Ordinary Least Squares regression functionality of Stata12, the following table has been generated which will lead us to acquire our estimated econometric model: 13 Christian Benedict B. ARGA 11027614 AE-FIN The estimated model is now: fossil=-2. 324895. 0168192inflation+. 0182493netincome+. 5711335energy+U i From doing the Ordinary Least Squares regression, we are actually looking at the p-values and the r-squared values. The pvalue will tell us the significance of the variable while the r-squared will tell us the explanatory ability. The significant parameters in the data are the netincome, energy, and the constant. We could say that these parameters are significant because when the p-value generated by Stata12 is generated by two, the p value falls below the required value of 0. 05. The r-squared of the data is at 0. 349 or 93. 49%. This tells us that this data explains that the data is a good fit for the real world because it explains 93. 49% of the real world model. II. Variable Analysis Given the independent variable, fossil, and the independent variables, it is given that for every 1 unit increase in inflation, fossil fuel consumption would go down by 0. 0168912%. This give s inflation a negative relationship with fossil fuel consumption and 14 Christian Benedict B. ARGA 11027614 AE-FIN thus matches with our A-priori expectation. Next, for every 1 unit increase in net income, fossil fuel consumption will go up by 0. 182493%. This satisfies our A-priori expectation that net income has a positive relationship with fossil fuel consumption. Energy is also proven to give a positive relationship with fossil fuel consumption. This is given by its coefficient of 0. 5711335. So this means that for every 1 unit increase in energy use, fossil fuel consumption goes up by 0. 5711335% which also satisfies our Apriori expectation. Now for the constant, which has a coefficient of 2. 324895, tells us that if nothing happens with inflation, net income, and energy use, fossil fuel consumption still goes down by 2. 324895%. Although it is a fantasy that there will nothing happen with inflation, net income, and energy, there may be missing factors which were not included in this project. III. Critical Assumptions Classical linear regression models (CLRM) have three critical assumptions ? non-multicollinearity, homoscedasticity and nonautocorrelation. Violations of these will each give up an unfavorable, unreliable and inaccurate outcome for the estimated model. It is for these reasons that the above interpretation of the 15 Christian Benedict B. ARGA 11027614 AE-FIN model could not be used yet to conclude anything regarding the consumption of fossil fuel. . Multicollinearity, as defined by Penn State University, is an event whenever two or more of the predictors in a regression model are moderately or highly correlated. To test for multicollinearity, the Variable-Inflating Factor will be used. Shown below is the result generated by Stata12: There is multicollinearity within the model if the Mean Variance -Inflating Factor is greater than 10. From the result generated by Stata12, the Mean VIF is 1. 08. This value is very far from 10 therefore, the model does not possess the problem for multicollinearity. 2. Homoscedasticity Homoscedasticity means that the variance around the regression line is constant for all X values. Heteroscedasticity are most commonly present in cross-section data. When 16 Christian Benedict B. ARGA 11027614 AE-FIN heteroscedasticity is present, OLS is no longer the best linear unbiased estimate; therefore, violation of this assumption is a far graver problem than the violation of non-multicollinearity. The researcher used Stata12 to test for homoscedasticity. Using the variables above for the test, Stata12 gave the result as follows: Given that our H o : P-Value (one-tailed) 0. 5: constant variance and H A : P-Value (one-tailed) 0. 05: non-constant variance, Stata12 yielded a p-value of 0. 3693. Because the pvalue that was acquired is greater than 0. 05, we accept the null hypothesis which states that our OLS has a constant variance and thus, is not suffering from heteroscedasticity. 3. Non-autocorrelation Another critical assumption of the CLRM is non- autocorr elation. Autocorrelation is the correlation between the past and present value of the data. This violation is commonly 17 Christian Benedict B. ARGA 11027614 AE-FIN present in time series data because of the sluggishness of economic variables. The presence of autocorrelation will result to OLS not being the best linear unbiased estimate, although it is still unbiased, constant, asymptotically normal and sufficient. R–squared are overestimated, t-values F-values and x 2 are all wrong, all leading to counter-intuitive signs. The root cause of all these errors will be coming from the standard errors being underestimated. This will result to wrong policy implementation and misleading inferences. For this, the researcher used the Breusch-Godfrey LM test for autocorrelation. The result can be seen below: Given that our H o : P-Value (one-tailed) 0. 5: no serial correlation and H A : P-Value (one-tailed) 0. 05: with serial correlation, Stata12 yielded a p-value of 0. 1119 which is greater than 0. 05 thus, we accept the null hypothesis that there is no serial correlation in the model. Although the data has been tested through the BreuschGodfrey LM test for autocorrelation, we still need to test it 18 Christian Benedict B. ARGA 11027614 AE-FIN furthermore but now through the Durbin-Watson d statistic test. The Breusch-Godfrey test has been done first because it is preferred by statisticians for auto correlation testing. Now for the results of the Durbin-Watson: The result for the Durbin-Watson yielded a value of 0. 6512995. As learned through the course, autocorrelation exists if the result is close to 0 or 4. The model possesses positive autocorrelation if the yielded d is close to 0. On the other hand, if d is closer to 4, the model experiences a negative autocorrelation. For the model to be autocorrelation free, the yielded d must be closer to 2 than 0 or 4. In this case, Stata12 returned a result which is closer to 0 which tells us that autocorrelation exists in the model. Because the assumption of no autocorrelation was violated, we must correct this by implementing remedial measures. 19 Christian Benedict B. ARGA 11027614 AE-FIN Remedial Measures and Adjusted Estimated Econometric Model I. Remedial Measure Because the model was tested with positive autocorrelation above, a remedial measure is needed to be implemented to correct this. For this problem, it will be corrected through the use of the Prais-Winsten estimation. It is a procedure meant to take care of the serial correlation of type AR(1) in a linear model. It is a modification of Cochrane–Orcutt estimation in the sense that it does not lose the first observation and leads to more efficiency as a result. Stata12 could also apply this method whenever autocorrelation is detected through the Durbin-Watson testing. The results are as follows: 20 Christian Benedict B. ARGA 11027614 AE-FIN After the application of the Prais-Winsten estimation, we acquired a transformed Durbin-Watson statistic of 1. 206692. This value is closer to 2 compared to the original DW statistic of 0. 651299. Having this result, we can now safely say that the model now is autocorrelation free. II. Adjusted Econometric Model With the execution of the Prais-Winsten, the r-squared and the adjusted r-squared has changed together with the coefficients of the variables. With the transformed r-squared of 0. 9994, it has improved from the previous r-squared of 0. 9349. This means that the model now explains 99. 94% of the real world variance. Because of the Prais-Winsten transformation, we acquired new coefficients and thus we have our adjusted econometric model: fossil=-2. 956624. 0344159inflation+. 0145774netincome+. 6412211energy+U i The same concept still applies with our previous econometric model. The relationships between the dependent variable and the independent variables haven’t changed so that means that it still meets our A-priori expectation. 21 Christian Benedict B. ARGA 11027614 AE-FIN Conclusion and Recommendations Now that the model with fossil fuel consumption as its dependent variable; inflation, net income, and energy use as its independent variables, has now been empirically tested and that the concepts and skills that have been learned in class have been applied, it is now time to supply in the conclusions and recommendations about the subject matter. Fossil fuel as said earlier is a non-renewable source of energy. Once that it has been burned up, it can never be acquired again. Unlike hydroelectric and wind energy sources, these are easily renewable through the resources provided by Mother Nature. Also, the burning of fossil fuel damages the ozone layer and increases the amount of greenhouse gases. It has been proven earlier that the A-priori expectations have been met. First I’d like to discuss the relationship of inflation and fossil fuel consumption. It is said above that fossil fuel consumption and inflation have a negative relationship. This means that whenever inflation goes up, the consumption of fossil fuel goes down. If the global economy wants to reduce the consumption of this non-renewable energy source and encourage people to turn to other sources of energy other than this, taking advantage of the inflation may be a good idea. If fossil fuels’ prices like oil and coal have gone up due to the inflation, people may find it practical to switch to other sources of energy like solar, wind, or geothermal heat. 22 Christian Benedict B. ARGA 11027614 AE-FIN Fossil fuel consumption and net income has been proven to have a positive relationship. This is because whenever the net income of a household increases, they can afford more goods such as food and electric dependent devices which consumes more fossil fuel. If the net income on the other hand goes down, the consumption of fossil fuel also goes down. This is due to the fact that people tend to consume less when their income is lower. They buy less food and other goods which consume fossil fuel to be utilized. Energy use also has a positive relationship with the consumption of fossil fuel. Today, very few have switched to the use of renewable energy. There are very few houses that have solar panels to power up their household. Some industrial organizations have windmills and large solar panels that power up their buildings and machineries. But even though these alternative sources are more eco-friendly, it comes with a very large price tag. It is very expensive to switch to renewable energy sources than just plainly using fossil fuel for power. So this means that the more a household or organization use energy, more and more fossil fuel is burned and consumed. Fossil fuel is the most reliable source of energy today. If for example, a certain country would want to reduce its fossil fuel consumption, they can implement laws like to increase the taxes on fossil fuel so that people would be forced to switch to other energy resources. The use of fossil 23 Christian Benedict B. ARGA 11027614 AE-FIN fuel hasn’t really been a win for our planet. Burning fossil fuels release greenhouse gases which lead to the depletion of the ozone layer. Aside from this, fossil fuel may someday be burnt out completely. Embracing other sources of energy which may be safe for the environment may be a good thing because fossil fuel will not last for a very, very long time. 4 Christian Benedict B. ARGA 11027614 AE-FIN Bibliography Gujarati, D. , Porter, D. (2009). Basic econometrics. Singapore: McGrawHill/Irwin. Damassa, T. (n. d. ). Fossil Fuel Consumption and its Implications | World Resources Institute. World Resources Institute | Global Warming, Climate Change, Ecosystems, Sustainable Markets, Good 2, Governance 2012, the from Environment. Retrieved December http://www. wri. org/stories/2006/11/fossil-fuel-consumption-and-itsimplications Data | The World Bank. (n. d. ). Data | The World Bank. Retrieved November 30, 2012, from http://data. worldbank. rg/ Fossil Fuels and Energy Use. (n. d. ). B. C. Air Quality – Home. Retrieved December 9, 2012, from http://www. bcairquality. ca/101/fossil-fuels. html Fossil | Department of Energy. (n. d. ). Energy. gov | Department of Energy. Retrieved December 5, 2012, from http://energy. gov/science- innovation/energy-sources/fossil 25 Christian Benedict B. ARGA 11027614 AE-FIN Data Presentation Year 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 Fossil fuel energy consumption (% of total) 55. 31347732 54. 8931033 53. 78592188 49. 29623659 45. 48943701 43. 37568802 44. 38229089 35. 31123038 35. 76117547 36. 35431158 40. 26445038 41. 633 11248 42. 63808088 43. 43920259 44. 68749999 48. 64714575 49. 75059198 52. 18039963 55. 84399353 56. 88793876 58. 26781808 56. 4225028 53. 69666356 53. 57196521 54. 87855853 56. 41898661 57. 72775356 56. 78790726 58. 16262043 56. 49811715 56. 71572428 57. 1050697 Inflation, GDP deflator (annual %) 8. 272875998 9. 331739787 14. 83954359 14. 24994909 11. 70313893 8. 701224356 14. 22188106 53. 3359576 17. 63285991 2. 952878059 7. 4981921 9. 647022877 9. 033063566 12. 97128127 16. 268799 7. 932658326 6. 832158129 9. 991314599 7. 550870238 7. 661037838 6. 224392022 22. 38172301 6. 585053049 5. 709799946 5. 54947782 4. 162229818 3. 201335984 5. 516871 5. 828020679 4. 949030524 3. 090323839 7. 549059634 Net income (BoP, current US$) -125000000 -118000000 -206000000 -420000000 -503000000 -1021000000 -836000000 -1449000000 -1300000000 -1301000000 -1190000000 -1185000000 -1349000000 -872000000 -500000000 445000000 924000000 1850000000 3662000000 3282000000 4681000000 3769000000 -1062000000 -3 0000000 -57000000 -430000000 -287000000 -74000000 -298000000 -1261000000 -899000000 105000000 26 Energy use (kT) 20161. 985 20500. 008 21698. 546 22748. 27 22856. 792 23462. 731 25453. 089 22902. 456 24008. 288 24091. 214 25209. 039 26593. 306 27975. 579 28891. 831 28878. 767 30215. 561 30233. 992 32369. 158 33981. 925 35217. 379 37071. 776 38075. 904 39044. 627 40423. 602 38777. 981 39300. 931 39385. 191 39152. 811 39178. 35 38848. 861 38142. 364 39605. 368 Christian Benedict B. ARGA 2009 2010 2011 57. 04278229 57. 04278229 57. 04278229 2. 773246711 4. 222388865 4. 246089114 11027614 -193000000 505000000 1293000000 38842. 497 38842. 497 38842. 497 AE-FIN 27 How to cite Econmet Paper, Essay examples

Asymmetric Effects Online Consumer Reviews -Myassignmenthelp.Com

Question: Discuss About The Asymmetric Effects Online Consumer Reviews? Answer: Introducation Buyer behaviour can be understood as the systematic approach consumers follow when entering the purchase process and making the buying decisions. This can be seen as four step process which helps to understand the buyer behaviour at a microscopic level. Need recognition is the first step in the consumer buying process; this is a point at which a consumer becomes aware of existence of a functional or an emotional need. Hence, the marketers play an important role in need recognition by stimulating the need awareness in its marketing plan. Information search is conducted Post need recognition, consumer look forward to compare the products against a given set of criteria and also looks forward to evaluate other option. Marketers here have to focus on effective positioning and strong brand development to appear in customer information search (Solomon, 2014). In order to drive purchase and customer experience, customer loyalty and retention are very important to include in the marketing st rategies, when the company is looking for long term relation with the customers. Provide loyalty programs; add on selling efforts etc. help in building loyalty amongst the consumers. Customer arrives at a decision by combining all the information he has collected and evaluated with his need for product, he gets into a decision mode to buy the product. Everyone from his peers, subordinates, word of mouth, internet, blogs, reviews assist him in making the right decision (Khaniwale, 2015) Hence it can be said that Buying behaviour extremely impulsive in nature, but it is more like doing a systematic research on the product, and hence it leaves the current marketers a lot of gaps to fill in with their marketing strategy, one such part of the marketing strategy which influences the buying and purchasing behaviour of consumer is consumer reviews and Blogs. Internet has a global penetration of 46%, which means 3.419 Billion people are connected through Internet out of the total population of 7 Billion. Also the unique Social media users are 2.307 Billion and unique Mobile users add up tune to 3.790, the world can be seen more like a global village where every person is connected with internet. Internet thus opens a lot of avenues for the markets to promote their products and services and influences the customers buying behaviour(Poushter, 2016) Consumer review have a very strong role to play in influencing the buying behaviour of the customers, hence it is very important to learn and understand the impact and attitude of the costumer review on the consumers. According to one of the studies conducted in 2016 it has been shown that as many as 90% of the consumers read online review and an overall majority of 88% trust the online reviews and recommendation. It can be said that online reviews comes in handy to the customers when they are looking forward to buy a product, it helps them in in their purchase decision. Moreover it also makes sense as the customer reviews posted online are the reviews of people who have already used the product, and thus it makes more sense to trust their reviews. As mentioned earlier that the world has slowly but gradually transformed into a global Internet and hence a lot of information is available online which management the customer buying journey easy and filled with utmost certainty. Customer s these days put same or more amount of trust on the customer reviews as much they put it on their peers or closed ones, it has become that important aspect in customer purchase journey (Park Nicolou, 2015). The world today is changing; the buying habits of people are change and also the buying process. The days when people used to go to the malls, speak with the sales representatives, take their word on the product has been replaced by comments posted online by the customers. The shopping is now limited to Internet, thanks to a number of e-commerce sites which have eased the buying process for the consumers. Amazon, Alibaba, Flipkart, E-Bay are the e-commerce sites which work on a marketplace model and facilitates transaction between buyers and seller, they just act as a medium in connecting the buyer to seller and facilitate the journey. Hence, it becomes important for the e-commerce companies to get good quality sellers on the board. It is more likely that a new consumer will buy from the seller who has good review online and people have been appreciating the quality of product he has provided in the past. (Cantallops Salvi, 2014) Positive review in a way gives a relief to the consumers, he knows that the product he is looking to buy is good in quality and will be able to fulfil all the needs that he is looking forward to. At the same time, his faith is restored by the validation been given to him by numerous positive customer reviews. Another important study conducted on the buyer buying behaviour was that customers are more likely to spend 31% more on a business or a product with excellent review, this is most certainly not something astonishing, as it relates to buyers innate nature of getting the excellent product at an affordable price. Customer review not only help in increasing the sale, but it also helps in building a strong brand image in the minds of the consumer, 72% of the consumers believes they trust a brand based on the positive reviews. This leaves a very important space for the marketers, to understand the statistics of the consumers, their faith in the online reviews and hence come up with solutions or products which will make the consumers post positive and great reviews online. Another important trend on Social media these days is the increasing relevancy of consumer generated content (CGC), it is one of the top digital trend currently, it gives user the power to share their views, opinion, feedback, post their concern and grievances online. The utility of this content is that brands these days listen to whatever is being spoken about them online, it is a customer feedback platform for them, and in the market where e-commerce is the thing, social listening becomes important too. Customers are also aware of the importance of their feedback and opinions and hence put their r eal feeling out on the internet, because they know brands do care and brands will listen to their problem. Similarly, the new consumers who are looking to buy some product or service from that particular brand also have access to the customers concern, query and feedback and are thus watching over how the brand reacts once the product has been sold to the customer (Pappas, 2016). A great social listening by a brand helps to absorb more and more consumers online. Web 2.0, where everybody is online, information access has become more and more easy and comfortable and thus it makes more sense to do an online reputation management and understand the importance of the customer reviews on the buying behaviour. Until now it is established that online review have a direct correlation with customer buying behaviour, a positive review leads to affinity of the consumer towards the product and the bad review pulls him away from the product. Online community plays an important role here, buyers in the process of gathering information, become a part of an increasing growing community and start trusting their feedback about the product, thus creating a state of harmony in the digital world. Like the customer review, online blogs also play an important role when it comes to influencing his/her behaviour. It has been shown in a study conducted by Research now that around 9 out of 10 consumers make purchases after reading about a product or service on a Blog. Hence, a lot of businesses use blogs as their promotion material because they know it is a strong influencer for the customers. The Bloggers themselves have earned a lot of followers who follow their writing on the blogs and base their buying decision on their recommendation. This gives bloggers additional responsibilities of being unbiased in their blogs, and provides a correct feedback or information to the customer without having any brand bias (Strauss, 2016). Online marketplace provides almost everything to everything on their portal, ranging from small things like soaps to as big as a virtual garden, hence a variety of bloggers exist based on their expertise and their follower base. Amongst all the millions of p roduct sold on the web, some of the important ones are based on lifestyle, fashion, consumer durable and electronics, these are the product categories where in customer relies heavily on the bloggers content. Professional bloggers and hobbyists write about the brands more often in some way or the other, they either create a highly curated content and post in on their blogs, or go onto Facebook, Instagram, Snapchat or even twitter to speak about the brand and its product. And as the internet has found its place in pocket of every consumer in the form of smartphones, they can easily access the information on the go, even at the last minute and change their decision of buying a particular product. Bloggers are increasing their connection day by day with the consumers, the connection builds stronger once the consumer realizes that the feedback is not biased and is some form of paid marketing, in this way consumer loyalty towards the blogger is created, which in turn helps the blogger to expand his civil-engineering with more customer benefitting reviews (Goodrich DeMooji, 2014). Bloggers not only influence the customer in their decision making but they influence their entire journey starting from; information search or discovering about a new product, comparing the product with a competitor brand, deciding on a product, refine the options, seek out for expert advice and in the end inspire purchase in the customer. Bloggers these days use the AIDA model of marketing to influence the customers; A-Attention- Grab the attention of the customer by catch headlines I-Interested- Get them interested into a product by putting in all the relevant information as desired by the consumer D-Desire- Generate a desire to but the product in the customer by showing him ads online and sending him newsletters and recommendation about the product. A-Action to Call- Provide him the info in the form of link on the Blog to make a buy. All these steps contribute towards influencing the buyer behaviour at each step of his buying journey. Blog users have mentioned over and over again that they feel safe and comforted knowing that they are making a purchase decision based on the recommendation of a person who is an expert and have tried the product for himself and thus giving a correct feedback, they trust the opinions of the bloggers. Another interesting insight which puts in blogs more important in a customer buying behaviour is that the customers trust blogs more than the social media platforms like Facebook, Instagram etc. when buying a product. A survey conducted found out how Buyers use blogs in their buying journey, 21% decide on a product or service,19% refine choices,19% get support and answers,17% discover product and services,14% get assured,13% inspire a purchase and 7% execute a purchase. All these points mentioned above clearly indicate the prevalence and the usefulness of the blogs in the journey of a buyer. These days another important concept which is teaming up is of influencer marketing; Brands get an influencer/Blogger/A person with good number of followers and ask them to tweet after using the product, buyers on seeing the recommendation coming from their influencer automatically gets attracted towards the product, their brain starts getting stimulated to the stimulation received by the influencer, thus aide them in the purchase. The essay can be concluded by saying, online customer reviews and blogs plays an extremely important role in influencing the customer in making a purchase decision. Growing penetration of Smartphone makes the information accessible, even on the go, and customers do not move away from having an expert opinion on the product or service they are interested in. At the same time, it is a wonderful opportunity for the brHence it can be said that Buying behaviouraign on the premise of its social listening skills. References Solomon, M.R., 2014.Consumer behavior: Buying, having, and being(Vol. 10). Upper Saddle River, NJ: Prentice Hall. Khaniwale, M., 2015. Consumer buying behavior.International Journal of Innovation and Scientific Research,14(2), pp.278-286. Poushter, J., 2016. Smartphone ownership and internet usage continues to climb in emerging economies.Pew Research Center,22. Park, S. and Nicolau, J.L., 2015. Asymmetric effects of online consumer reviews.Annals of Tourism Research,50, pp.67-83. Cantallops, A.S. and Salvi, F., 2014. New consumer behavior: A review of research on eWOM and hotels.International Journal of Hospitality Management,36, pp.41-51. Pappas, N., 2016. Marketing strategies, perceived risks, and consumer trust in online buying behaviour.Journal of Retailing and Consumer Services,29, pp.92-103. Strauss, J., 2016.E-marketing. Routledge. Goodrich, K. and De Mooij, M., 2014. How socialare social media? A cross-cultural comparison of online and offline purchase decision influences.Journal of Marketing Communications,20(1-2), pp.103-116.