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Solution: Business Ethics Assignment

Write a critical review of an article titled 'Negativity bias in consumer price response to ethical information' published in Business Ethics: A European Review. The review should include a critical appraisal of the research objectives, methodology, conclusions, and limitations of the study.

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Added on  2019-12-03

Solution: Business Ethics Assignment

Write a critical review of an article titled 'Negativity bias in consumer price response to ethical information' published in Business Ethics: A European Review. The review should include a critical appraisal of the research objectives, methodology, conclusions, and limitations of the study.

   Added on 2019-12-03

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Solution: Business Ethics Assignment_1
TABLE OF CONTENTSA. Critical appraisal of research objectives and including an assessment of the way inwhich this article fits into existing literature on this subject..................................................3B. Critical appraisal of research methodology and methods used by the authors..................5C. Critical evaluation of the research conclusion and applicability of conclusion toacademic understanding in this area of search.......................................................................7D. Critically evaluating the limitation of study and suggestions for further work.................8REFERENCES.........................................................................................................................10
Solution: Business Ethics Assignment_2
INTRODUCTIONCustomers are the key sources for success of any organization and it helps them inenhancing their market share as well as profit margin. It is quite essential for firms nowadays tofollow appropriate business ethics to get positive response from consumers. There is direct andincreasing consumer willingness towards ethically produced goods. This study is based on thearticle of Mossmayer (2012): Negative bias in consumer price response to ethical information:Business Ethics. In this concern, the present study gives critical appraisal of the researchobjectives as well as research methodology to asses that how this article fits into the existingliterature on this subject. Further, the overall discussion is based on the critical evaluation of thegiven article as well as limitations of the study and appropriate on further work that could becarried out.A. Critical appraisal of research objectives and including an assessment of the way in which thisarticle fits into existing literature on this subjectWithin current research and practices, the ethicality of company’s behaviour and variousrelated concepts are discussed in a deep manner. There is a significant question rises in the mindset of several authors that whether customers are willing to reward and punish on the basis ofethicality or not. Different authors have given distinct researches about the negative bias inconsumer price response to ethical information. Many authors have discussed their viewpointsabout increasing corporate ethics. They claim that such type of related activities might lead todecrease the cost of companies and increase the turnover. The paper presented by Moosmayer(2012) determines that there are various activities of company which targets social andenvironmental aim. In this concern, most of the firms are attaining these goals under the label ofcorporate ethical performance. However, consumers’ needs are changing day by day and they arebecoming more demanding with the changing time. According to Moosmayer (2012), most ofthe customers respond towards the corporate ethical performance by selecting their particularbrand. However, it helps them in buying greater quantities of paying more. It increases theturnover rate of companies. There are only fewer and limited studies and investigations on thenegativity bias in consumer willingness to pay. Moosmayer (2012) in his study found the impact of CEP on consumers’ willingness topay. The present study gives appropriate reasoning as if there is any negativity bias in consumer3| P a g e
Solution: Business Ethics Assignment_3
response towards CEP, it has been identified that their willingness positively increases withpositive CEP whether it decreases with negative CEP or not.This present articles fits into the existing literature of Lee, Mark andCho (2015) whichstated that there are different purposes of customers for purchasing different products. On thebasis of their demand and selection of products, they can decide whether they are ready to paythe existing amount or not (Cotton and Croucher, 2011). This article is associated with theinvestigation of customer choices for purchasing organic coffee by applying approach of Theoryof planned behaviour (TPB). Authors stated that consumer choices are highly influenced bydifferent degrees of ethical concern and price sensitivity. It is the best way through which betterunderstanding can be gained about the consumer behaviour related to the growing demands ofthis organic coffee or any other latest product. Findings for this study presented that ethicalconcern and price sensitivity documented as significant moderating roles upon organic coffeepurchasing behaviour. However, people nowadays are highly attentive for the use of latestservices as well as products. This clearly fits with the present situation and the present study asconsumers are highly aware about the ethics related to the products. Moosmayer (2012) says that price sensitivity is defined as a product related ethicalinformation that is explored in an experiment dealing with environment as well as social issues.This study allows author to identify the customer’s individual bias and their willingness to pay asper their expectations.Carrigan and Attalla (2001) presented his literature findings on the basis of myth ofethical consumers. He has given appropriate findings on the basis of research objective that doethical information matters in purchase behaviour? In his study, researcher argues about whetheror not consumers care about the ethical behaviour. This research gives a perception of consumersas per their changing nature day by day. Author clearly fits with the present study and given ajust opposite perception by stating that “however, consumers are more sophisticated today, butthis does not necessarily translate into behaviour which favours ethical firms and punishunethical firms” (Peng, 2013). By presenting this concept, it can be determined that this studyfits with the present article and defines that companies may take several measures in order tosegment the consumers based on their individual negativity bias. With the help of this,companies are able to better understand that consumers might find an ethical product offering. Itmay attract huge base of customers and help in enhancing the customer base by attracting them. 4| P a g e
Solution: Business Ethics Assignment_4

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