Optimal Time for Consumers to Purchase Electronic Products with Consideration of Consumer Value and Eco-Efficiency

Hsin Rau and Yi-Tse Fang
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Hsin Rau: Department of Industrial and Systems Engineering, Chung Yuan Christian University, Taoyuan City 32023, Taiwan
Yi-Tse Fang: Department of Industrial and Systems Engineering, Chung Yuan Christian University, Taoyuan City 32023, Taiwan

Sustainability, 2018, vol. 10, issue 12, 1-23

Abstract: In recent years, owing to the improvements in technologies and the rapid changes in market demands, the life-cycle of consumer electronic products has been shortened and new products are being released constantly. With rising environmental awareness, product value, and cost are not the only factors defining consumer value; the impact of the product to the environment has become another new factor to affect consumers purchase decisions. A key concept to transform unsustainable to sustainable development is eco-efficiency, a concept that uses less energy and resource to make a product, producing less waste and pollution. However, there has been very little discussion on how beneficial these environmentally friendly products actually are to the consumer. In view of this, the present study proposes a set of methods for consumer value and ecological benefit evaluation from the perspective of consumers. A model for determining the most suitable time to make a purchase is developed with the inclusion of the time factor, and the Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) is used to find the suggested order of purchase at different times on the model. Finally, factors such as different groups of consumers and different types of products are considered in investigating the most appropriate time to make a purchase under different circumstances. This study focused on notebook computers, which are having high variety and easily get obsolete. As for the investigation of different consumer groups, this study found that there is a relatively good product selection order of Ultrabooks for price-conscious and environmentally conscious consumer groups. Business Notebooks are the most suitable option for general consumer groups. Being able to know optimal time to purchase and to evaluate the product ecological benefit would be beneficial to both consumers and the environment nowadays.

Keywords: eco-efficiency; consumer value; optimal purchase time; TOPSIS (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2018
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