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Shipping markets. The international shipping industry can be divided into four closely related shipping markets, each trading in a different commodity: the freight market, the sale and purchase market, the newbuilding market and the demolition market. These four markets are linked by cash flow and push the market traders in the direction they want.
Psychological pricing (also price ending or charm pricing) is a pricing and marketing strategy based on the theory that certain prices have a psychological impact. In this pricing method, retail prices are often expressed as just-below numbers: numbers that are just a little less than a round number, e.g. $19.99 or £2.98. [ 1]
Behavioral economics is the study of the psychological, cognitive, emotional, cultural and social factors involved in the decisions of individuals or institutions, and how these decisions deviate from those implied by classical economic theory. [1] [2] Behavioral economics is primarily concerned with the bounds of rationality of economic agents.
It is an agreement among firms or individuals to divide a market, set prices, limit production or limit opportunities. [1] It can involve "unions, wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties". [2] In legal terms, all acts effected by collusion are considered void.
A target market, also known as serviceable obtainable market ( SOM ), is a group of customers within a business 's serviceable available market at which a business aims its marketing efforts and resources. A target market is a subset of the total market for a product or service. The target market typically consists of consumers who exhibit ...
Managerial psychology is a sub-discipline of industrial and organizational psychology that focuses on the effectiveness of individuals and groups in the workplace, using behavioral science . The purpose of managerial psychology is to aid managers in gaining a better managerial and personal understanding of the psychological patterns common ...
Neuromarketing is an emerging disciplinary field in marketing. It borrows tools and methodologies from fields such as neuroscience and psychology. The term "neuromarketing" was introduced by different authors in 2002 (cf. infra) but research in the field can be found from the 1990s. [6] [7]
Agency (psychology) The first half of the topic of agency deals with the behavioral sense, or outward expressive evidence thereof. In behavioral psychology, agents are goal-directed entities that are able to monitor their environment to select and perform efficient means-ends actions that are available in a given situation to achieve an ...