The a company. According to Economist Thorstein Veblen,

The researchers want to determine the buying behavior of Grade 9 and 10 students of Elizabeth Seton School Las Pinas Campus with the use of Marshallian theory, Veblenian Social- Psychological, and Psychoanalytic. Marshallian theory, created by Alfred Marshall, explains the preference of consumers for goods and services which satisfy them the most. However, it also provides the relationship between the price and sales of the product. Even if there is a substitute product, the ultimate consideration will still be the lower price. However, the income of the buyers will also affect product sales considering these factors can influence the marketing strategies to be used by a company.

According to Economist Thorstein Veblen, humans follow the standards of the culture and subgroups they live in. People’s individual needs and wants are created and influenced by their relationship in their groups. This theory suggests that marketers should study and better understand what influences their customers to better get product demand.The Psychoanalytic theory started with Sigmund Freud, an Australian founder of psychoanalitics. The theory states that consumers do not only think about price, sales and other economic considerations and functions in buying products. Symbolic concerns also come into play in deciding what to buy. According to Freud, external factors such as age and income cannot interpret consumer behavior because the motivations are deep withn the soul.

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Instead, marketing messages that have an emotional appeal to the consumers feeling are more effective than rational appeal.With the use of these theories, the researchers will be able to know which of the business simulation and ESS canteen has more sales.


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