Utilitarianism. What does RULE UTILITARIANISM mean? The belief that the value of a thing or an action is determined by its utility. Overall netbenefit is often referred to as aggregate well-being orwelfare. Utilitarianism is an ethical theory that determines right from wrong by focusing on outcomes. RULE UTILITARIANISM AND DECISION THEORY 29 sum, of individual utilities. The notion of rule utilitarianism has been discussed under two main headings: ideal-rules utilitarianism and "indirect" utilitarianism. A moral theory is a form of consequentialism if and only if itassesses acts and/or character traits, practices, and institutionssolely in terms of the goodness of the consequences. Historically,utilitarianism has been the best-known form of consequentialism.Utilitarianism assesses acts and/or character traits, practices, andinstitutions solely in terms of overall net benefit. In contrast, act utilitarians judge an act in terms of the consequences of that act alone, rather than judging whether it faithfully adhered to the rule of which it was an instance. III. Utilitarianism. Rule utilitarianism claims that the most efficient means of creating the greater good for humanity is to have a moral code with rules of conduct clearly understood. Wirehead Hedonism In Jurisprudence, a philosophy whose adherents believe that law must be made to conform to its most socially useful purpose. STANDS4 LLC, 2020. Rule Utilitarianism. This is because they believe these rules were created to make the greatest amount of happiness. Another problem is that the best rules would not be simple. HedWeb We can say that rule R is the best rule, and that everyone ought to follow that rule. Perceived risk and moral philosophy: situational influences in marketing ethical decision-making Although different varieties of utilitarianism admit different characterizations, the basic idea behind all of them is to in some sense maximize utility, which is often defined in terms of well-being or related concepts. Golden rule of Jesus 1. everyone deserves happiness 2. everyone therefore aims happiness how religious ethical system - utilitarianism based on laws of nature, also principle of justice - "love thy neighbour as you would love thyself."
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India, a nation of 1.2 billion people, is the most varied market in terms of food in the world, cheers to regional differences in cultures, lifestyles and preferences. Today’s consumers select those restaurants or brands that understand them and provide them with the experience they seek. India is a price sensitive country and good bargains and promotions catch consumers’ attention. This trend is seen across consumers categories. For Indians getting valued brands for a lesser price enhances their dining experience and is a motivating factor for them to be more loyal to the restaurants or brands. With the changing habits, there is an increased preference for convenience and eating out. According to various industry experts, nuclear families and bachelors are turning towards takeout, home delivery and semi-prepared meals (ready-to-eat/ ready-to-cook meals) as these are lower cost and also time saving options. According to a recent report by Financial Express Online, this is one important reason why FMCG companies like Nestle, Parle, or PepsiCo have not changed the prices of their products like Maggi, Lay’s and Parle-G for nearly a decade now. Harish Bijoor, Founder Harish Bijoor Consultancy Inc, told Financial Express Online, “These price points become memory points as well. The consumer reaches out to these packs and to an extent has an economy story in his or her mind for sure. The moment this price point is altered, even by 50 paise, there is a jarring effect in the minds of the consumer, retailer, and indeed the entire trade channel.” The Internet economy is bringing convenience in our lives that consumers want everything at the touch of a button, which led to the emergence of food-delivery platforms in India. The online food ordering business in India has boomed in last two years with the entry of several platforms such as UberEats, Zomato, Swiggy, among others. Considering the potential in the Indian market, these platforms have been expanding foothold in India and have more than three lakh restaurants listed on them. These platforms have gained increased usage by consumers by focusing on single-serve value-meals and varied cuisines. According to RedSeer’s Foodtech Market Updates, the foodtech industry has seen an overall Gross Merchandise Value growth of close to 140 per cent in 2018, with order volumes increasing by a whopping 176 per cent on account of discounts and value deals provided by food aggregators. Keeping up with this trend in the country, a global QSR brand like Subway has introduced Chhota Sub, a 4-inch-mini submarine sandwich in four flavours for consumers who are constantly seeking value-deal options with exciting taste. Subway India in past had introduced SubWraps as a snacking product priced at Rs 49 for vegetarian options and Rs 69 for non-vegetarian options. The brand is also running ‘Sub of the Day Offer’ for its guests to have an opportunity to relish their favourite submarine sandwich at an attractive price once a week and is a popular value deal. With the rapid growth of millennials as the major consumer segment, the perception of product’s value and premiumisation has also altered. Consumers no longer consider a product premium based on just a high price tag. Globally, less than one-third (31 percent) of the consumers consider a product premium only because it is expensive. Thus, a clear demand for value-for-money is emerging amongst the younger consumers.