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You searched Library Catalogue - Title: Digital identity :your reputation online / Mary-Lane Kamberg.
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Call Number (WOU)
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SP CEMBA 2015 78
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Author
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Chai, Ngan Moi
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Title
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The study of middle income families manage their life style with recent rising cost / Chai Ngan Moi
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Abstract
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Malaysian government has implemented a series of fiscal reform such as subsidy rationalization program, increase Overnight Policy Rate (OPR) and goods and services tax (GST) which led to the rising cost of living. Thus the rising costs, ringgit depreciation and drop in oil prices has become add on burden to Malaysian in view of their existing high household debt. Theoretical review on household expenditure patterns, demand pull and cost push inflation, current inflation development in Malaysia, household income, government transfer, impact on currency rate fluctuation as well as Maslow Theory and Engel’s Law were conducted. Quantitative survey with 88 qualified respondents with annual gross household income within RM36,000 to RM100,000 were collected and qualitative survey by interview with 5 respondents were carried out. Both quantitative and qualitative survey results revealed that the recent rising cost causes the middle income family to change their life style such as taking additional job or overtime to increase household income, reduce consumption in luxurious goods and utilities, reduce eating in restaurant and cook more at home, and they intend to buy small cc or cost saving car for petrol saving. The rising price causes middle income families tend to buy less, switch to less-expensive substitutes and cost saving products. However, qualitative survey revealed that household change their life style but pursuing Asian Maslow’s Hierarchy of higher level needs on admiration needs and status needs. It is thus essential for the business, Central Bank, private sector and entrepreneur to understand the change of family consumption behaviour for their strategic planning and precautionary measures to overcome this challenging period.
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Notes
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Final project report submitted in partial fulfilment of the requirements for the Degree of Master of Business Administration (CeMBA)
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Publisher/Year
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Penang : School of Business and Administration, Wawasan Open University, 2015
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Subject
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Cost and standard of living.
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Subject
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Work and family.
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Subject
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Household appliances.
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