Consumer buying preferences towards technological goods produced using sustainable business practices Essay

1. AbstractThis report shows data on consumer deportment as primary question and secondary data from books somewhat sustainability, sustainable business practices and consumer behaviour towards sustainable produced goods. The marchess sustainability and sustainable business practices go forth be examined in much than than than detail. Data garner from primary enquiry give help to get a better understanding on consumer behaviour, by analysis and presentation in pie charts and restraint charts. Methods of data amass will be examined and the use of surveys and questionnaire as considerably.2. IntroductionThis report will investigate consumer buying electences towards technological goods produced exploitation sustainable business practices. The term sustainability was first defined by the UN World Commission in its 1987 make report called Our Common Future, which defined it as development which meets the ineluctably of current generations without compromising the abili ty of future generations to meet their own inescapably.Since the mode change and its impact on the environment mass became more sensible of the signifi sternce of sustainability. similarly companies strive to implement sustainable business practices to embarrass further harm to the environment and to improve their efficiency to lower cost and to enhance quality, which in turn satisfies customers and employees.This report will show that companies victimisation sustainable business practices reach an advantage in todays economy and consumers will invest more time and m unrivalledy in technological goods produced using sustainable business practices. Techniques on how information was gathered will be elucidated in the methodology section and the results will be presented in section 5.3. Literature ReviewSeveral literature resources most the topics sustainability, sustainable business practises, consumer behaviour and the environment were available. Key findings in literature s how that impacts on the environment have led businesses as well as people to rethink the way they use resources.Due to media exercise in past decades many people became aw ar of global warming, pollution, the ozone stratum depletion and its negative effects on nature and health of graciousity. An article about sustainable business practices suggests that companies of various sectors should use their own set of techniques to get to their own version of sustainability. furthermore various literatures show that most developments in business practices came from creative thinking about redesigning production cycles while maintaining consumer needs with the environment in mind. Ecoefficiency is the term used by some companies to specify their aims towards more sustainability. The World Business Council, an association of big corporations defines Ecoefficiency as as being achieved by the delivery of competitively priced goods and services that satisfy human needs and bring quality of life, while progressively reducing bionomical impacts and resource intensity throughout the life cycle, to a level at least in line with the Earths estimated carrying capacity. This description is remarkable in its position to human needs and value of life, and can be interpreted as a move away from philistinism and contribution to meeting needs for human well-being. Most literature offered a big variety of subtopics around sustainability, sustainable business practices and consumer behaviour, which whitethorn go way far for purposes of this report.4. MethodologyPrimary research was conducted with the aid of surveys and questionnaires. The smack consisted of 40 people, who answered 10 questions around the topic consumer buying preferences towards technological goods produced using sustainable business practices. The questionnaire took approximately 10 minutes to complete and participants were asked that the middle-agedest fraction of each sept should return the results by end of the month. Surveys are one of the fastest methods to gather information nowadays, due the possibility to conduct them online as well.In the questionnaire participants of ages 30 and above were asked basic questions like name, email, gender and age. Furthermore the questionnaire asked more specific questions like how would you best describe your household, annual household income, if participants would buy sustainable produced goods over normal competitors even if the price was smallish higher and more to gather information about consumers buying preferences.The questionnaire was designed to gather a lot of information in a before long time. To achieve better results, phrases around the topic sustainability and sustainable business practices were form so that participants had just to tick their favourite answers. Limitations in primary research may be that the sample size could be accessiond more by surveying under 30 course of study olds as well. tributary research was unde rtaken with the aid of online databases like summon, which is a database for all kinds of academic articles. Also the survey was based online due to its efficiency, because nowadays majority of people have internet connection.5. ResultsWhen asked the question if participants would buy an electronic device which is produced using sustainable business practices rather than one that is not, even if it is more expensive 60% responded with yes. 15 % of participants responded with sometimes and 25% with no.Furthermore the research was dressed and responses by household were considered as well, to get more details on consumer behaviourThe bar chart above illustrates that families with under 16 year old children are most likely to invest in sustainable produced goods, while gray couples are least likely to invest in electronic devices. The most remarkable sign when looking at the bar chart is that all except the elderly couples charmm to invest more in electronic devices produced using sustainable practices. Singles seem to address as well with response of 3 votes indicating the value sometimes and 4 indicating yes.Families indicate 7 yes, 0 sometimes and 1 no. As seen families with under 16 year old children respond with 8 yes, 1 sometimes and 4 no. Overall couples, singles and elderly people seem to care less than families and families with under 16 year old children. The results could have been improved by investigating more questions and designing more charts for presenting and interpreting data. One more approach to improve the results would have been to increase the number of participants by giving under 30 year olds the probability to participate as well.6. ConclusionThe aim of this report was to investigate consumer behaviour in relation to sustainability. A survey was conducted to gather information and to see how participants would respond. Data collected using this method helped designing bar charts and pie charts, to illustrate percentages of partici pants voting for a specific answer. As conclusion majority of consumers prefer to invest in goods produced using sustainable business practices rather than products which are not, even if the price is higher.Families seemed to be most likely to invest, while elderly couples seemed not as much interested. Overall consumers tend to invest more in sustainable goods. Secondary research showed that environmental awareness may be a trigger for such decisions. This report also showed that companies put in sustainability can insure a long run profitability in every sense, be it lowering production costs or driving up consumer and employee satisfaction.