Price hike and people's attitude
It is obvious nowadays that the price of everything ranging from essential daily commodit...
On the other hand, outside of Dhaka 26.3 percent try to take homeopathic medicines, 22.4 percent of
the people try not to ...
of 2

Price Hike And Peoples Attitude

Research was carried out to know people purchasing behavior during down turn economy. It is summarize version, which was published in "The Daily Star"
Published on: Mar 4, 2016
Published in: Education      Business      
Source: www.slideshare.net


Transcripts - Price Hike And Peoples Attitude

  • 1. Price hike and people's attitude It is obvious nowadays that the price of everything ranging from essential daily commodities to transportation, educational, medical and other expenses are increasing. According to the study, as a consequence of the price hike, the majority (97.7 percent) of the people in Dhaka metropolitan city and in other parts of the country are facing deep trouble in coping with the situation. Out of 97.7 percent people only 9.8 percent in Dhaka city are trying to reduce using electrical appliances to reduce their electric bill, but 8 percent of the people are reducing their daily bazaar, 6.7 percent stopped going out unnecessarily, and 4.9 percent are not attending social parties. On the contrary, 19.9 percent of the people surveyed outside of Dhaka city reduced their daily bazaar and11.3 percent are trying to reduce using electrical appliances to reduce their electrical bill. Besides they try to use less expensive vehicles for transportation purpose, rent less expensive houses, be more cautious in purchasing expensive products, try not to give in to the unreasonable demands of children, stop using dish connection, etc. However, it was revealed that during their daily bazaar 45.6 percent of the consumers were bargaining regularly and 45 percent occasionally. In purchasing fish and vegetables, 30.2 percent bargain in Dhaka city. On the other hand outside Dhaka, 36.1 percent bargain regularly and 51.4 percent bargain occasionally while purchasing daily bazaar. While purchasing fish only 26.7 percent bargain outside Dhaka city. It is surprisingly revealed that in Dhaka city 2.3 percent of the people do not bargain at all while doing their daily bazaar. To cope with the price hike condition and to ease the financial problems of the family, 21.1 percent in Dhaka city are doing part-time jobs, and in other parts of the country 45 percent are involved in some kind part-time work. In Dhaka themajority do no do any part-time jobs because their income is higher compared to people residing in other parts of the country. Of those who do part-time jobs in Dhaka, 48.3 percent do private tuition, 24.1 percent try to be self employed by doing small businesses. On the other hand, outside of Dhaka area, 43.7 percent do private tuition, 12.7 percent sewing work, and 11.3 percent do business. Furthermore, it is revealed that in Dhaka areas 42.1 percent and in other parts of the country 64.4 percent of the people try to convince their able members of the family to take up part-time work. It has been noticed that even in this kind of economic situation, in Dhaka city 75.4 percent and in other areas outside of Dhaka 79.2 percent of the people participate in entertainment related activities. Those who participate, among them 26.3 percent watch TV, 18.4 percent read newspaper, and 10.5 percent go for outings as their sources of entertainment in Dhaka city. Meanwhile in other areas of the country 37.9 percent watch TV, 15.7 percent read newspaper, and 7.1 percent go for outings. 81.9 percent of the people in Dhaka city do not think of cutting the education expenses of their children, in spite of financial hardships compared to 59.9 percent outside of Dhaka city. It is revealed that in Dhaka city 42.9 percent try to reduce their education expenses by not keeping private tutors and 21.4 percent try to teach their children themselves. On the other hand outside Dhaka 55.6 percent stopped keeping private tutors and 18.5 percent are trying to teach their children themselves. Moreover, a significant percentage of parents convince their children to use bus instead of motor vehicles, advise their children to use stationeries properly, and give home-made tiffin for school, both in Dhaka city and other parts of the country. To cope with medical expenses, 38.5 percent in Dhaka city try to avoid going to specialist as much as possible because of high fees, while 20.3 percent take medicine when they feel it is necessary and 11.1 percent try to take homeopathic medicines in case of normal and even in complex diseases.
  • 2. On the other hand, outside of Dhaka 26.3 percent try to take homeopathic medicines, 22.4 percent of the people try not to go to specialist doctors, 16.7 percent take medicine when they feel it is urgent, and 10.3 percent take help of Ayurvedic treatment. It was also revealed that, because of less faith in doctors, the majority of the people, both in Dhaka as well as outside of Dhaka, go to only those doctors who are really good and reliable. The upper class and middle class go abroad for complex treatment because they feel that they will get proper treatment, their money will be used appropriately, and it will be hassle-free. It was also revealed that people both from Dhaka as well as other parts of the country take less number of medicines as they cannot afford to purchase these. They try to live a healthy and disciplined life by jogging, avoiding rich food, going to the gym regularly, cutting down on cigarettes, etc. The last thing which was revealed from the study is that in Dhaka city 43.8 percent of the people think that because of price increase of almost everything, they are encountering economic hardship. 10.4 percent opined that population boom, 9.0 percent administrative inefficiency, 7.6 percent corruption, and 3.5 percent opined that political pandemonium were the main reasons for price hike. Beside those, the reasons people pointed out are black money, greediness of businessmen, extra imposed tax and VAT, changing life style of people, increased demand of people, etc. People outside of Dhaka are of more or less the same opinion, only the percentage varies. 45.5 percent of the people think that because of price increase of everything they are faced with economic hardship. 23.6 percent opined that population boom, 5.5 percent political pandemonium, 3.6 percent corruption and administrative inefficiency, and 2.4 percent opined that the new pay scale were the main reasons for price hike. Beside these, the other reasons people pointed out are changing life style of people, terrorism, and competition among people for status and advertisement. To help people to overcome this economic crisis people from all walks of life should come forward and take necessary steps against this price hike. Published in ‘The Daily Star” Thursday. December 22, 2005 http://www.thedailystar.net/2005/12/22/d512221503107.htm