Stable Income Consumer Behavior

By: Lok, Johnny Ch

Raising electricity consumption from electricity user individual habitFor electricity use market case example, how to analyze people's behavior in consuming electricity using a behavioral economic framework ? Electricity consumption is modeled by the means of consumer's individual useful habit, electricity price, consumer satisfaction level, willingness to invest in new technologies, social interactions, and marketing strategies by the power utility. Because electricity is necessary to every home or electric vehicle users needs or businessmens' office etc. different needs every day.Power companies supply electricity to a region's homes and industries. However, electricity needs modernization of power system companies expect to increase price. Due to competitive factor, such as other fuel resource choices, outdated kind of energy electricity supply, and renewable fuel energy source competition.Hence, applying behavioral economic concept, I assume electricity consumers will compare to electricity and other kinds of energy choices to weigh up the costs and benefits of all alternatives, aiming to maximize their benefits, before making a decision to choose to use electricity for their house electricity demand or electric vehicle or shop or factory manufacturing etc. function of different aspects of electricity users.For example, electricity business clients, they aim to reduce cost, such as energy expenditure, when they use any energy to manufacture their products in factories. If they feel electricity is expensive price to compare other kinds of energy power supply. When, they feel that they can not earn much beneficial advantages to use electricity to produce their products. Otherwise, if they feel other any kinds of energy supply can replace electricity to give more benefits to compare electricity energy. Then, many business electricity users will change to use other kinds of energies to consume to replace electricity power.However, electricity can have competitive ability in electric vehicles market, if many drivers feel environment protection is more important to compare vehicles will be popular to be drived, due to many drivers don't want air pollution. They will like gas vehicles. Hence, the main attribute from the consumer side is one their habit electricity consumption behaviors, satisfaction level, energy efficient interaction with the power utility.Consequently how to predict electricity consumer's demand. The important factor is how to let electricity users to feel power companies are changing a reasonable level to compare other similar energy supply products. When electricity users feel electricity which can bring more benefits to compare other kinds of energy products. Then, in energy supply market, if the demanding number of electricity consumers can increase more than other kinds of energy demanding number. Then, it is right time to raise electricity price to charge electricity consumers. Hence, how to persuade electricity consumers to feel that they can have more benefits to compare other kinds of energy products. It is the main successful factor to electricity power supply companies.

• Format: Paperback
• Language: English
• ISBN: B08PXFV9MH
• ISBN13: 9798578407116
• Release Date: January 1
• Publisher: Independently Published
• Length: 50 Pages
• Weight: 0.26 lbs.
• Dimensions: 0.1" x 8.0" x 10.0"