Technological Change in Construction Affecting Sustainability – Green Building Technology
Issues concerning construction and the environmental sustainability have been of great concern. Many technological changes have taken place in construction industries to attain a sustainable life. Technological improvement has emerged because of the impact of the construction with the environment. A major technological improvement that has taken place in the construction industry is green building technology.
Green building is a new technology that has been introduced in building and construction companies It is also referred to as sustainable building. The green building technology aims at increasing the efficiency in buildings with their site uses by using processes and structures which are environmentally friendly and resource efficient. The green building technology aims at changing the nature of operation, construction, maintenance, design, demolition, and renovation of buildings.
Green building technology aims at finding a sustainable balance between home and industrial building and the sustainable environment. For this to be achieved, it requires keen intervention in different construction sectors including the design team, the engineers, and the architects together with the project clients in each phase of the construction project. The green building technology is aimed at expanding and complementing of the classical system of building design which is concerned with the economical sustainability, their utility, comfort, as well as durability.
The green building technology is designed in order to curb the impact from the built environment to that of human health and natural environment in different ways. These ways include;
1. Sustainable water usage, energy and resources available.
2. Promoting the health of the occupants and improving the productivity of employees
3. Reducing resulting wastes, environmental pollution, and degradation.
Buildings have got a great impact on the environment if they are not checked. The impact caused by the construction of building also extends to the health of people within the building. The technological change in construction looks at the resultant improvement over a long period, which is the entire life-cycle in construction including its subsequent operations, disposal costs and the maintenance of the building.
Green Building Technology – Was it introduced as a cost-saving measure or for other reasons such as meeting building regulations or improving thermal performance, etc.?
As mentioned above, green building technology was introduced in order to achieve a sustainable environment. This including saving on the cost of construction, reducing the impact of construction to the environment, Sustainable water usage, energy and resources available, as well as minimization on the waste disposal which causes environmental pollution and degradation.
Building has an adverse effect to the health of individuals. The public health is affected by the construction, the building design and operation practices. The effects of buildings to health can be grouped in three main categories.
1. Effect on those occupying the building: various aspects on the building affect the health of the occupants, the staff, and visitors of a certain building. This includes indoor air circulation. The indoor air circulation of a building depends on the physical design of the building, which includes the ventilation, waste disposal locations, airflow, and pressure. Daylight access in the building also affects the occupant.
2. Effect on the health of the community surrounding the building: Health of the surrounding community is affected by the building. This can also result from waste material from the building. It also has an impact on the water management and air circulation to the neighboring community.
3. The effect of the entire global community: The health effect of the building extends beyond the immediate community. The production material of a building can constantly release toxic components to the environment. The components can cause severe effect to the larger community such as the effect of CFCs.
The goals achieved by introduction green building technology included energy efficiency, water efficiency, and material efficiency and improved indoor environment. On energy efficiency, the green building technology aims at reducing the total capacity of energy used in its construction and operation.
For this reason, buildings are constructed in a way that they will save on energy and avoid energy wastage through several ways such as siting a building in place where there is enough daylight to be used instead of electricity during the day. The houses are also fitted with solar water heaters to cut on energy use and cost in heating.
Sustainable building also aims at reducing the overall consumption of water. For this reason, water harvesting techniques have been incorporated in the construction of buildings to harvest rain water. Installation of water recycling and purifying machines is also put in place to ensure water efficiency and conservation. The technological changes in the construction industries have helped to achieve a sustainable environment which is necessary to reduce the impact caused by building to the people within them and the surrounding community.
PARAYIL, G. (2002). Conceptualizing technological change: Theoretical and empirical explorations. Lanham, MD, Rowman & Littlefield.
SMITH, M. R. (1994). Does technology drive history? the dilemma of technological determinism. Cambridge, Mass., MIT Press
TROY, P. N. (1995). Technological change and the city. Annandale, NSW, Federation Press.
VLANDIS, P. (1999). The impact of technological change on construction management. Thesis (B. Build. Construction Management) University of New South Wales, 1999.
The Effect of Classical Conditioning on Consumer Behaviour
Classical conditioning is a source of learning that influences an individual’s behaviour psychologically, habitually and perceptually. The concept of classical conditioning is discovered by Ivan Pavlon and is defined as a learning process that is created by crafting a connection between a neutral stimulus and an environmental or physical stimulus. However, it emphasises on placing neutral stimuli before the naturally occurring reflex.
The very well-known example of classical conditioning is of a dog, where the dog was exposed to a sound as neutral stimuli which triggered salivation as the reflex in anticipation of food (Cherry, 2017). Nevertheless, a study by Pornpitakpan (2012) states that there is no significant evidence that classical conditioning have any effect on consumer behaviour and its use in the advertisement is a waste. Therefore, this report will analyse the impact of Classical Conditioning on Consumer behaviour through Coca Cola’s advertisement in United Kingdom.
Classical Conditioning at Coca Cola
Coca Cola is among the top selling and manufacturing soft drink Companies in the world, it was established by John Pemberton in the 19th century. Perhaps it is run by Asa Griggs Candler, an extraordinary marketer who has got Coca Cola to this dominating position. Coca Cola is a Global brand but this report talks about its Coca-Cola Great Britain (CCGB) division, which manages 20 different brands and 80 or so drinks. Its brands in the United Kingdom include a variety of still and sparkling drinks, four colas, herbal teas, sports drinks, waters, juices and also no calories, caffeine and sugar drinks in the range of flavours (Coca-cola, 2017). Nonetheless, the advertisement of Coca Cola is a great choice to demonstrate the impact classical conditioning on consumer buying behaviour.
Coca Cola’s Advertisement History
Coca Cola has a unique way of marketing its drinks ever since it’s first on-screen advertisement in 1950, where it associated its brand to festive occasions from red trucks in Christmas holidays to hilltop singers by creating an association. Similarly, in another advertisement in the 1950s featuring Julie Reaby and Alf Davies (the winners of British Ballroom Dancing Open Championship of 1956) with the slogan “Coca‑Cola puts you at your sparkling best!”. Coca Cola has been seen to create its brand image as the source of happiness.
Like most of the well-known brands in the 1960s, Coca Cola featured celebrities in its advertisement to air in the UK because it tends to influence consumer’s buying behaviour. Then there were also some ads where it introduced cartoons to show how characters call truce using a bottle of Coca Cola. Furthermore, it uses appealing jingles like “Only Coke will do when you’re thirstiest”, “Coca‑Cola refreshes you best!”. Likewise, Coca Cola has evolved tremendously by associating coke with appealing notions and trends like it introduced can opener named Churchkey in the mid-1970s with the demonstration of how to open cans. The Coca Cola ads at times introduce its campaigns, to help a cause or demonstrate a new idea but with the aim to attract more and more consumers (Coca Cola, 2017).
Use of Classical Conditioning in Coca Cola’s Advertisement
Understanding the consumer behaviour is a crucial aspect of today’s market, especially for effective marketing and branding of the products. In fact, when a new product is launched the consumer behaviour changes and its psychological understanding becomes important because it requires new association. Under classical conditioning, many brand use liked or disliked music in their advertisement to affect consumer’s product preference (Gorn, 1982). However, Coca Cola uses classical conditioning in its advertisements very effectively for creating an association of its products with a likeable factor.
As thirst is an unconditioned response of the consumers in a hot season and it is triggered by many physical and environmental factors like sports, heat, dehydration, workout etc. which are used by Coca Cola as unconditioned stimuli in its marketing and branding functions very strategically. Moreover, the keywords of these unconditioned stimuli are used in slogans to appeal consumers and influence their purchase decision such as “Thirst Knows No Season”, The Pause That Refreshes”, Open Happiness etc. (Ryan, 2017).
Nonetheless, Coca Cola products are used as conditioned stimulus by placing along with the unconditioned stimuli in every advertisement. As a result, Coca Cola drinks become a signal of unconditioned stimulus like heat and dehydration for the consumers and they feel thirsty by seeing the ad without actually experiencing the environmental factors. This impact of classical conditioning compels consumers to buy Coca Cola by making them feel thirsty when they actually may or may not be thirsty. In addition to that, Coca Cola also uses festivals to create its pairing with the festive period and influence people to buy coke (Oakley, 2013).
Impact of Advertisement Characteristics on Consumer Behaviour and Pepsi (Rival Brand)
There are numerous characteristics of Advertisement including the use of media, tools, communications means etc. which basically make the brand image. As the brand image is the core driver of the brand equity and it influences consumer perception and choice regarding a product by driving the consumer behaviour. Regardless of the marketing strategies of the companies, the main objective of every organisation is to effect consumer’s perception and buying behaviour towards the brand. Coca Cola establishes its brand image of happiness and refresher in consumer’s mind and stimulates their purchasing decision of the brand (Zhang, 2015).
The first ever print advertisement published by Coca Cola in 1886 had slogan “Delicious and Refreshing” and was marketed on every merchandise including trays, clocks etc. until 1920 to create its brand image as a very refreshing beverage. Which positively influenced consumer behaviour and increased its market share, as a result many similar slogans were used in ads like “Coca Cola is a Delicious Beverage, Delightfully in Harmony with the Spirit of All Outings”, “Coca Cola Revives and Sustains” and “The Great National Temperance Drink” using classical conditioning to create a distinct brand image in consumer mind (Ryan, 2017).
For example, a very well-known and highly anticipated Christmas ad by Coca cola that was aired in 2013 used the traditional factors or view of advertisement to compel consumers to buy that product. In the human mind, events like Christmas are the unconditioned stimulus that tends to bring a positive vibe or sense of happiness, excitement and togetherness as an unconditioned response.
Before the implementation of the classical conditioning, the neutral stimulus or Coca Cola drinks do not trigger any emotion in consumers because of no brand association. Nevertheless, when the same neutral stimulus (Coca cola) is advertised with the unconditioned stimulus (Christmas) in an advertisement, it generates positive feelings among consumers, the emotions of excitement and family re-emergence when they see Coca Cola. These emotions then become the conditioned response of consumers due to the association of Coca Cola with Christmas. Perhaps, the effectiveness of the advertisement cannot be directly measured but the recorded sales of Coca Cola during the Christmas season exceeded to £185m, which shows its very positive impact on consumer buying behaviour (Oakley, 2013).
Furthermore, Oakley (2013) shows the impact of Coca Cola’s same advertisement on Pepsi by highlighting the AIDA (Awareness, Interest, Desire, Action) tool used by Coca Cola in the ad. The tool is discovered by Elmo Lewis and proposes a view of effective advertisement which affects Pepsi’s sales. The tool first grasps consumer attention by awareness, then interests or appeals them to learn about it and consequently convinces them to desire the product. Eventually, it influences their purchasing decision making or consumer buying behaviour and they take action to buy Coca cola. Which perhaps decrease Pepsi’s sales than Coca Cola.
The rivalry between Coca Cola and Pepsi is quite interesting as both have somewhat similar in chemical composition but their advertisement creates preference among their consumers. However, Coca Cola is known as the most popular beverage with 18.6% global market share, whereas Pepsi has 11.9%.
The advertisements of Coca Cola like its 2013 Halloween ad maybe a cheap advertisement tactic (shown in the figure below) as a competition but it is an example of classical conditioning that created the brand association. The advertisement may have worked in favour of Coca Cola but badly affected Pepsi (Oakley, 2013). Not just that the other advertisement characteristics of Coca Cola like media and communication tools also badly affect Pepsi as they both have the same target audience.
After the above thorough analysis of Classical Conditioning and its effect on consumer behaviour in advertisement using Coca Cola’s Great Britain advertisement, it is proved to be quite evident. There are many brands like Coca Cola who use the unconditioned stimulus along with neutral stimulus to create conditioned response by associating the brand or product with an emotion.
The effect is proven significant using various Coca Cola’s advertisement examples, from its first ever print ad to on-screen advertisements that create its association with freshness, happiness, togetherness etc. and Influence its consumer’s buying behaviour and increases its sales. The example of its Christmas ad is used to show the effect of classical conditioning on Coke’s consumers and their purchase decision which show an immense increase in sales during Christmas period.
Furthermore, the effect of advertisement characteristics on its rival brands is also significant. Which is proved using its 2013 Halloween advertisement that created the brand association (using classical conditioning) and through AIDA communication tool, which anticipates and influenced most of the cola consumer market at the time.
The effect of classical conditioning on consumer behaviour is noticed because of the association that this theory help creates, condition human brain to respond similarly to the unconditioned response (heat, dehydration or thirst) at the sight of a neutral stimulus (Coca Cola). A study by Till, Stanley and Priluck (2008) states that the celebrity enforcement used to condition consumer behaviour is very effective. For example, when a celebrity endorses a brand, his followers are likely to buy that brand to create a sense of belongingness.
Classical Conditioning Recommendations
According to the above analysis Coca Cola uses Classical Conditioning to influence its consumer behaviour, perhaps there are numerous other ways of influencing consumer behaviour. Few of them are as follows:
As nowadays consumers are flooded with the information than the last decade which gave them the power to switch brand due to excessive sugar or any other property of the product. Moreover, there are the variety of substitute brands using same classical conditioning factors.
In fact, Conlon (2021) states that four out of five customers don’t come back if they do not like a single thing about the product. Therefore, it is recommended to onboard technologies and personally engage with the consumers to influence their buying behaviour and offering the personalised experience. There are latest technologies like social intelligence and customer analytics that would assist in delivering the premium experience.
As technology has empowered the brands, it has also empowered consumers to disengage and unsubscribe, which means that Coca Cola cannot merely rely on its festive and refreshing drinks advertisement. Some consumers demand ‘boosting drinks’ or the healthy drinks that do not increase their sugar intake and obesity level. Thus, it is recommended to create smaller consumer segments to cater all consumer preferences and influence them by targeting their insecurities like weight, health consciousness, energy etc.
Furthermore, Redsicker (2014) say that today’s consumers are super connected, thus understanding individual groups that tend to influence each other’s buying behaviour must be studied to anticipate their purchasing decision. By learning about their cultural aspects or latest trends or celebrity hype, is likely to alter consumer behaviour.
Another recommendation is to use the ‘on rader’ issues or social causes instead of festivals because these factors resonate more than anything. The issues like recycling, animal welfare, personal energy source etc. tend to attract young people to use those brands that support human welfare. It is also likely to create loyal customers by accessing more and more consumer insight to influence them and anticipate their demand or decision making (Lee, 2011).
Cherry, K. (2017). How Classical Conditioning Works: An Overview With Examples. [online] Verywell.
Coca Cola. (2021). Coca‑Cola adverts from our archives.
Coca Cola. (2021). Coca-Cola GB.
Conlon, G. (2021). What Change in Customer Behavior Will Impact Marketing Most in 2020?
Gorn, G.J., 1982. The effects of music in advertising on choice behavior: A classical conditioning approach. The Journal of Marketing, pp.94-101.
Lee, S. (2011). Influencing Consumer Behaviour Sustainability.
Oakley, T. (2013). Why do Coca-Cola advertise?
Pornpitakpan, C., 2012. A critical review of classical conditioning effects on consumer behaviour. Australasian Marketing Journal (AMJ), 20(4), pp.282-296.
Redsicker, P. (2014). 5 Ways You Can Influence Consumer Purchasing Decisions: New Research : Social Media Examiner.
Ryan, T. (2017). Coca-Cola Slogans History.
Till, B.D., Stanley, S.M. and Priluck, R., 2008. Classical conditioning and celebrity endorsers: An examination of belongingness and resistance to extinction. Psychology & Marketing, 25(2), pp.179-196.
Zhang, Y., 2015. The Impact of Brand Image on Consumer Behaviour: A Literature Review. Open journal of business and management, 3(01), p.58.
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This dissertation examines long-run purchasing power parity (PPP) between the United States and other competing countries and regions using monthly data from 1960 to 2019. Mainstream methods of PPP test and most influential researches are reviewed.
Three methods of PPP testing – Unit Root Test, Cointegration Test, Panel Unit Root Test have been applied in this paper. We identify that PPP holds between the US and a certain number of countries by analysing the test results. Also, the results of PPP test between the US and its top 10 trading partners have been specifically investigated and elaborated.
This dissertation highlights that both the Multivariable co-integration tests and the bivariable Cointegration tests are applied in order to find out the effect of prior restrictions on the results. Then, this chapter examines whether the PPP holds between the US and its top 10 trading partners countries minus China with the panel unit root test. Finally, in the sixth chapter, this paper concludes that PPP holds in 41 countries out of 176 countries, and among the US top 10 trading partners, only China, Canada and India do not have solid evidence supporting PPP.
The purchasing power parity (PPP) theory, as one of the most influential economic theories, has been widely used in macroeconomic analysis. It states that the price of the same commodity or a basket of products in two countries should be proportional to the exchange rate between the two countries. The exchange rate is crucial to the economic development of a country, not only because it affects the volume of imports and exports between countries, but also because it is highly correlated with other economic indicators, such as GDP and interest rate. Therefore, it is necessary to study the PPP theory to determine the equilibrium exchange rate as well as assist governments in adjusting exchange rates based on empirical evidence.
This dissertation will be structured in the following way. In chapter 1, this paper introduces the definition of purchasing power parity and then explains the significance of PPP studying. A brief history of the stages of the PPP study is also covered in this chapter. The second chapter is the literature review. It reviews the origin and evolution of PPP theory and common test methods. Sample testing results using different methods are also discussed in this dissertation and they also give us a broad view of PPP tests conducted for various countries using data from different time spans.
In the meantime, critiques and strengths of each test method are covered to provide a comprehensive view of each PPP test method. Besides, previous studies on the US are reviewed as well. In the third chapter, this paper presents a series of econometric methods and models to be used in this thesis, including unit root test, cointegration test and panel unit root test. In the fourth chapter, it explains the data source in detail. For EU countries that miss data due to the adoption of EUR, this paper also describes how the equivalent data is generated to fill the holes. The fifth chapter is the empirical analysis. This chapter first plots the real exchange rate for the US and its top 10 trading partners, and by presenting the graphs, the trend will be analysed.
In general, the purchasing power parity (PPP) theory works miserably when applied to real-world data. In other words, it is rare for the PPP relationship to hold true between any two countries at any particular point in time. In most scientific disciplines, the failure of a theory to be supported by the data means the theory is refuted and should be thrown out or tossed away.
However, economists have been reluctant to do that with the PPP theory. In part this is because the logic of the theory seems particularly sound. In part it’s because there are so many “frictions” in the real world, such as tariffs, nontariff barriers, transportation costs, measurement problems, and so on that it would actually be surprising for the theory to work when applied directly to the data.
Purchasing Power Parity Dissertation Contents
Chapter 1 – Introduction
Chapter 2 – Literature Review Two Versions of the PPP Theory Evolution of PPP Test Simple Static PPP Test Unit Root Test Cointegration Test Panel Unit Root Test Non-linear Test US & Related Tests
Chapter 3 – Empirical Framework Tests for a Unit Root in the Real Exchange Rate Cointegration Test Panel Unit Root Test
Chapter 4 – Data Description
Chapter 5 – Empirical Analysis Real Exchange Rate Observation Unit Root Test Cointegration Test Multivariate Cointegration Test Bivariate Cointegration Test Panel Unit Root Test Analysis of the US Top 10 trading countries’ Test Result
Contactless Payments Economics Dissertation – Has the Uptake of Innovative Payment Methods affected UK Student Spending Habits? Emphasis on Contactless Payments
This dissertation analyses the current payment landscape in the UK in a period of increased digitisation and use of contactless payment. The aim of this dissertation is to understand how innovative payment instruments like contactless cards and mobile payments, have affected the spending behaviour of students age 18 – 24.
It investigates the rationale for such behaviour and explores the differences that arise when using traditional methods such as cash. Using qualitative semi-structured interviews and questionnaire responses, this study builds on existing research and applies thematic content analysis to identify trends in student spending patterns when exposed to innovative payment methods.
Further illustrated by quantitative regression analysis, the use of contactless payment methods, significantly influenced student spending habits. Common themes apparent from the analysis included a subconscious accumulation of small, impulsive purchases, as well as a reduced sense of guilt when using contactless payments. This was primarily attributed to the theory that in comparison to using cash for payments, contactless transactions are intangible and therefore do not feel like using real or tangible money.
Chapter 1 – Introduction
Chapter 2 – Literature Review History of contactless payment Contactless Payment Technology Mobile Proximity Payment Adoption of Technology Model Consumer Payment Choice The Preference for Innovation The Transition to a Cashless Society Student Spending Habits Psychological Aspects The Pain of Paying
Chapter 3 – Methodology Research Design Research Style – Qualitative Semi- Structured Interviews Investigative Questionnaire Data Analysis Quantitative Analysis – Probit Regression Bank Balance Financial Fluency
Chapter 4 – Data Analysis and Discussion Description of Sample Qualitative results and Descriptive Statistics Initial Observations Payment Tangibility The Effect of Contactless Adoption on Spending Mobile Proximity Payment (MPP Adoption) Inhibitors to Contactless Adoption Student Debt Contributors Implications of a Cashless Society Quantitative Regressions Awareness of Current Bank Balance Financial Fluency Limitations of the Dissertation
According to UK Finance (2020). “We all tend to reach for the payment methods that we are accustomed to using, forming habits over time that can be quite strong. Once we have found a set of payment methods that we are comfortable using and that help us to manage our finances effectively, it can take a great deal for us to change to a different way of doing things. As a result, payment markets have historically tended to evolve slowly. Despite this natural inertia, technological change and significant innovation in payment methods have brought greater choice for people and businesses in how they pay for things.
This has been led by the popularity of the smartphone, which has revolutionised many aspects of modern life in just over a decade. Also, innovations such as contactless payments, mobile wallets, online banking and mobile banking have had a significant impact on the way that we now choose to pay for goods and services and manage our finances. As people have realised the value to them of doing things in a different way, so their payment habits have evolved, resulting in a gradual revolution in payments in the UK.
During 2019, card payments continued to grow as consumers and business increasingly used their cards to pay for things, whether online or in the ‘real world’. This growth saw card payments increase to the point of accounting for over half (51%) of all payments in the UK for the first time. Online and contactless payments continued to act as substantial drivers of this growth, with eight out of ten UK adults using contactless payments in 2019.
Strong growth was also seen in Faster Payments as both businesses and consumers increasingly used online and mobile banking to make payments and to transfer money. Mobile banking in particular continues to grow strongly, and users are continually widening the range of tasks that they perform using such services, exploring beyond checking their balances to also make one-off payments and manage other aspects of their finances” Source: UK Finance. UK PAYMENT MARKETS SUMMARY 2020.
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Predicting Economic Market Failure and Collapse in The London Housing Market and How It Compares to a Collapse in The Wider UK Housing Market – A VAR Approach
The general objective of this dissertation is to (i) test whether a collapse in the London Housing Market would affect the UK economy and (ii) see if its impact on the economy is more significant than the impact of a UK Housing Market shock. We use a Vector Auto-regressive model (VAR) to analyse how GDP, Inflation and Uncertainty might react to a shock in either the London or the UK Housing Market. To do that, we go through the Impulse Response Function (IRF) which helps us identify the sign, significance and duration of the responses of our variables to a simulated shock in one the Housing Market.
We then go through the Historical Decomposition which calculates the contribution of the housing markets to the different structural accumulated shocks of our variables; and, helps us estimate whether the results found through the IRFs make empirical sense. We expect GDP to fall, Inflation to slow down, and Uncertainty to be negatively affected. We also consider the possibility of a recession being created in the economy, if GDP growth is affected negatively for more than three quarters. Lastly, we suppose that the London Housing Market will have a more significant impact on the economy.
London Housing Market Dissertation Contents
Chapter1 – Introduction
Chapter2 – Literature Review
Chapter3 – Analysis Objectives Methodology and Data Empirical Model and the Data Identification Strategy Results Impulse Response The London Case The UK Case Historical Decomposition Comparing the London case with the UK case Sensitivity Analysis Robustness Analysis Changing the order Replacing Uncertainty with other variables Dividing the sample Results prior to 1992 Results following 1992 Comparing our two sub-samples results Critics and limitations of our model
It is the biggest plunge since the 7.0% annual drop recorded in August 2009, says ONS. “House prices in London have fallen at their fastest pace since the financial crash a decade ago as the capital bears the brunt of the nationwide torpor in the property market. Amid a dearth of potential buyers, the cost of a home in London was 4.4% lower in May than a year earlier, according to the latest official snapshot of the market from the Office for National Statistics.
The ONS said it was the biggest drop in London prices since the 7.0% annual fall recorded in August 2009 – a period that included the near-meltdown of the global banking system in the autumn of 2008” (The Guardian, 2019).
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