eco 100 wk1 - wall or surface to be painted and then...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Utility 1 Sheri Brown ECO 100 Utility and Purposeful Behavior Instructor Turner July 6, 2010
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Utility 2 Utility is the outcome a consumer gains by spending their time or finances in hopes on finding enjoyment, pleasure, happiness, or satisfaction. (Brue, McConnell) Purposeful behavior explains the time one invests to get a particular outcome. For instance, painting the house in the attempt to improve the overall look is an example of purposeful behavior. The singular purpose is to improve the overall look of the house, therefore, painting it is the behavior to reach the goal. This is an example of a personal purposeful behavior. Take this example and change it into a business outlook. A business that has a single purpose of increasing their sales of a particular item, may sell the item for less than the expected value. Behr Paint has a new paint on the market. It is called Behr Premium Plus Ultra. This product features a primer and paint in one. The idea behind this product is to relieve the consumer from a double step process of priming the
Background image of page 2
Background image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: wall or surface to be painted and then actually painting the surface, to just one step which is to use this new two in one product. Behr’s production manager’s single purpose is to increase consumer’s awareness and desire to use this new product. They will use media and coupons to increase consumers’ understanding of the perceived benefit and cost value of such a product. As discussed in our posts, there is a marginal benefit of saved time to use such a product that would sustain the higher cost over other paints. Introducing coupons would decrease the overall price, entice consumers to try the product, find out it is worth the price even without a coupon, refer it to other painters, hence reaching their one goal of increasing knowledge, respect, and value of the new item on the market. Utility 3 Reference: Brue, S. L., & McConnell, C. R.(2010). Essentials of economics (Ashford Custom 2nd ed.). New York: McGraw-Hill/Irwin....
View Full Document

This note was uploaded on 09/26/2010 for the course BUSINESS eco 100 taught by Professor Turner during the Spring '10 term at Ashford University.

Page1 / 3

eco 100 wk1 - wall or surface to be painted and then...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online