Standard Costing – Alternative Costing Systems
Standard costing: Based on standard (budgeted) values rather than on actual results. Static budget: Used for standard costing. Created in an income statement format that…
Standard Costing – Alternative Costing Systems
Alternative Costing Systems
Actual vs. Standard Costing: – Standard costing is base on budgets Full Costing (Absorption) vs. Variable Costing: -Differs in the treatment of fixed overhead –…
Cost Accounting – Review
Product costs: – Costs that can be attributed to the generation and delivery of individual products – Also called “inventoriable” costs and are capitalized in…
Types of consumer behaviour models
Perhaps the most useful set of categories is that of low, medium or high level models. In this case the level refers to the level…
The Four Models of Consumer Behavior
1. Economic model: Economic model of consumer behaviour is one-dimensional. This means that buying decisions of a person are governed by the concept of utility….
The Howard Sheth Model of Buying Behaviour
The Howard Sheth Model of Buying Behaviour serves two purposes: 1. It indicates how complex the whole question of consumer behaviour is.2. It provides the…
Engel-Kollat-Blackwell Model
Variables grouped into categories a) Stimulus inputs b) information processing c) decision process and d) variables influencing the decision process Strength of model Deals with…
4 Components of Engel-Kollat-Blackwell model
The Engel-Kollat-Blackwell model consist of four components: i. Information processing: this component comprises the consumer’s selective exposure, attention, comprehension and retention of stimuli relating to…
5 Steps of Engel-Kollat-Blackwell model
This model talks of consumer behaviour as a decision making process in the form of 5 steps or activities. The five steps are as: 1….
Customer scenario mapping approach
A‘customer scenario’ is the set of steps a customer needs or is willing to take in order to reach their desired outcome. And scenarios are…