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Consumption Commitment

In: Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022)

Author

Listed:
  • Winne Wu

    (St Paul’s Grammar School, International Baccalaureate Diploma Program)

Abstract

Affective value has grown in importance as a factor affecting customers’ desire to purchase as living standards have increased. In this essay, we examine the impact of commitment consumption on consumption, work extend the theoretical of objective price to subjective value of the Veblen effect as well as real-world examples. In addition, an effort is made to analyse Veblen effect after the experimental methodology of customer preferences under diverse causes. In this way and according to the results of the experiment, we offer a suggestion that assist producers in using commitment consumption to boost sales and brand loyalty.

Suggested Citation

  • Winne Wu, 2022. "Consumption Commitment," Advances in Economics, Business and Management Research, in: Faruk Balli & Au Yong Hui Nee & Sikandar Ali Qalati (ed.), Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), pages 312-317, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-052-7_36
    DOI: 10.2991/978-94-6463-052-7_36
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