Reflection Assignment Example | Topics and Well Written Essays - 250 words

Reflection - Assignment Example The supply is higher than the demand due to the release of past stockpiles by the energy companies that expected prices to go higher over the years while ignoring the price decrease. In normal circumstances, the prices fall resulting in a decline in supply and an increase in demand. However, the prices of oil declined, and demand decreased while supply increased. The predictions by the government for a further decline in prices have resulted in the maintenance of the equilibrium demand by customers expecting the prices to decrease further. Energy companies want to release as much oil and its product at the current price to avoid doing so when the prices decrease further. At the moment, the forecast for future price decreases is influencing the behavior of the supply and demand of oil prices. The steady and firm dollar has also affected the demand for oil. Oil prices get measured in dollar terms, and the currency has been stable making the decrease in prices ineffective in most countries where the dollar rates supersede the change. The increased supply has also happened due to the change in technology that allows oil companies access supplies in the trapped shale-oil

New Products Adoption in the Contemporary Market Essay

New Products Adoption in the Contemporary Market - Essay Example Because of such differentiation, a bifurcation has been observed in the process of buyer behavior related theoretical development. Although beneficial for the purpose of teaching and planning, according to the author, such divergence has prevented the development of theoretical structures that act as generic to both forms of buyer behavior. Although traditionally consumers are distinguished from organizations particularly in case of buying behavior due to the implicit understanding that while the consumer as an individual decision maker tends to be whimsical and responsive to sudden bursts of irrationality, organizations do not and professional organizational behavior is bound to be rational as it is the result of joint decision making in the presence of constraints like set objectives and priorities which prevent irrational and indulgent choices, the author argues against such distinctions pointing out the individual buyer although does not have to abide by constraints faced by professional organizations, has to make choices always being constrained by being a part of another organization – society. The differentiation is disagreed with by questioning the assumption that same individuals act differently under organizations that are contextually different, one being a professional organization while the other is the society the individual is embedded in. It is posited that theoretical enrichment is to be derived if buyer behavior is studied without differentiating between consumers and organizations. That in spite of consumers and organizations exhibiting different motivations and patterns in buying at times there are significant overlaps which lead to enhanced perceptions regarding the necessity of development of a general theoretical framework that can elucidate the differences of buying practices which are observed in different contextual settings.