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

1. AbstractThis authorship shows data on consumer behavior as primary research and collateral data from literature about sustain office, sustainable business practices and consumer behaviour towards sustainable produced goods. The preconditions sustainability and sustainable business practices will be examined in more than(pre zero(prenominal)inal) detail. Data arrive ated from primary research will help to set a better chthonicstanding on consumer behaviour, by analysis and debut in pie maps and bar charts. Methods of data collecting will be examined and the practice session of surveys and questionnaire as well.2. IntroductionThis report will orderigate consumer demoralizeing preferences towards technical goods produced use sustainable business practices. The term sustainability was first defined by the UN World Commission in its 1987 published report called Our Common succeeding(a), which defined it as development which meets the call for of current generations wi thout compromising the ability of future generations to meet their own needs.Since the climate change and its impact on the milieu people became more awargon of the significance of sustainability. Also companies reach to implement sustainable business practices to prevent further harm to the purlieu and to improve their efficiency to lower costs and to enhance type, which in spell satisfies customers and employees.This report will show that companies utilize sustainable business practices produce an advantage in todays economy and consumers will invest more time and m unrivaledy in technological goods produced using sustainable business practices. Techniques on how training was gathered will be elucidated in the methodology section and the results will be presented in section 5.3. lit ReviewSeveral literature resources about the topics sustainability, sustainable business practises, consumer behaviour and the environment were available. Key findings in literature show that im pacts on the environment have led businesses as well as people to rethink the way they use resources.Due to media influence in past decades legion(predicate) people became aware of global warming, pollution, the ozone layer depletion and its negative effects on nature and health of humanity. An article about sustainable business practices suggests that companies of confused sectors should use their own set of techniques to achieve their own version of sustainability. what is more various literatures show that virtually developments in business practices came from creative idea about redesigning production cycles while maintaining consumer needs with the environment in mind. Ecoefficiency is the term used by some companies to describe their aims towards more sustainability. The World statement of products Council, an association of big corporations defines Ecoefficiency as as being achieved by the preservation of competitively priced goods and services that satisfy human need s and bring quality of life, while progressively reducing ecological impacts and resource intensity end-to-end the life cycle, to a level at least in line with the Earths estimated carrying capacity. This definition is infrequent in its present to human needs and value of life, and can be interpreted as a move away from materialism and contribution to meeting needs for human well-being. Most literature offered a big variety of subtopics well-nigh sustainability, sustainable business practices and consumer behaviour, which may go way far for purposes of this report.4. methodological analysisPrimary research was conducted with the aid of surveys and questionnaires. The try consisted of 40 people, who answered 10 questions close to the topic consumer buying preferences towards technological goods produced using sustainable business practices. The questionnaire took nearly 10 minutes to complete and participants were asked that the oldest member of each household should military issue the results by end of the month. Surveys are one of the fastest methods to gather information nowadays, imputable the possibility to conduct them online as well.In the questionnaire participants of ages 30 and above were asked basic questions same(p) name, email, gender and age. Furthermore the questionnaire asked more special questions like how would you best describe your household, annual household income, if participants would buy sustainable produced goods all over normal competitors even if the price was little higher and more to gather information about consumers buying preferences.The questionnaire was designed to gather a ken of information in a short time. To achieve better results, phrases approximately the topic sustainability and sustainable business practices were formed so that participants had just to determine their favourite answers. Limitations in primary research may be that the sample size could be increased more by surveying under 30 twelvemonth o lds as well. unoriginal research was undertaken 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 refined and receptions 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 elderly couples are least likely to invest in electronic devices. The most remarkable sign when looking at the bar chart is that all merely the elderly couples seem to invest more in electronic devices produced using sustainable practices. Singles seem to care 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 slight 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 great(p) under 30 year olds the opportunity to participate as well.6. finishingThe 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 c harts, to illustrate percentages of participants 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 offset for such decisions. This report also showed that companies investing in sustainability can verify a long run profitability in every sense, be it lowering production costs or driving up consumer and employee satisfaction.