Factors Affecting One's Decision about the Type of Transport They Use and How They Respond to Market Changes - Essay Example

FACTORS LIKELY TO AFFECT AN INDIVIDUAL’S DECISION ABOUT THE TYPE OF TRANSPORT THEY USE DAILY AND HOW THEY RESPOND TO MARKET CHANGES Name Course Date Introduction The idea of the world as a global village gathers the opinion of many. In order to be fully part of this change, one has to move from one part to another with the movement facilitated through transportation. Transport is imperative in today’s world as it enables the movement of people, goods, and even animals from one part to another. An important component serves to benefit the majority of individuals is the advancement of the transport systems. With transport, individuals have particular preferences for the various modes of transportation, and this has to be in consideration. Other factors that affect the choices include price, effectiveness of the means of transport, speed, risk, and endurance.1This paper aims to explore the various factors to consider in order choosing which type of transportation to use particularly in European countries from Australia, Sydney, Perth and the factors that affect choice in the mode of transportation. 1. Australia In Australia, the main means of transport is by road. Regarding the other forms of transportation, there are airports, railway stations for travelers in the metropolises, ferries, boats, and pipelines used in transporting oil. Transport, in this case, can be either public or private. Depending on some factors, an individual’s preference for a particular mode of transport determines whether they opt for public or private means. Individuals also take into consideration factors to do with convenience then determine which form is favorable when in transportation. Therefore, an active process of evaluating options takes place is imperative.2 2. The trends in transport use in Perth and Sydney a. Perth Perth, located in Western Australia has various means of transportation among them an extensive throughway linkage, significant arrangement of traveler rail lines and bus means. Public means of transport undergoes monitoring by the Transperth agency. The description of Perth’s transport system utilizes the words convenient, reliable and dynamic. Its rail service, in particular, receives high ranking as the best for average network speed as it is time efficient and characterized by quality service.3 Public transport in Perth creates a competitive economy in that it helps people with no cars to be independent and still able to move from one part to another. It also facilitates people going to work, seeing their families and other places with ease not to mention reducing traffic in the city. b. Sydney It has several transportation means, which include, water, air, railway, and road. Operational modes include commuter, light rail, buses, and ferries. It has the fastest, consistent light rail with the benefits incurred being in a more relaxed ride. Additional advantages include possibly advanced traveler volume per lane per hour in the right situations , lower effective costs per passenger, less sound both inside and out, an advantage to other road operators where exteriors are rebuilt example fewer surprises for the buses.4 Factors affecting individual decision about the type of transport The premise behind consumer choice theory rests on the preference of customers for certain goods and services. In individuals determining the best means of transport, the theory plays a role. Within the context of transport, transport manufacturing companies have to consider the customers preferences by taking into account whether they prefer safety over performance of the car. The decision extends to even the choice of buses consumers choose to board with some having a preference for buses whose seats are well spaced. The favorability of private means of transport over public is an application of the consumer choice theory in that, an individual may prefer the safety and comfortability of private means as opposed to public. Preferences form a significant aspect of the theory with them attracting an indifference curve where an individual may equally evaluate two modes of transport. For instance, where equally considers bicycles and scooters as the means of transport, both modes complement each other. Other factors include: a. Price or Cost This mainly relates to the price of the means of transport, for instance, the cost of maintenance and any other additional cost. A widely applied evaluation is of private modes of transport. One has to consider how much it costs to purchase and repair the means of transport. Through this analysis, it is possible to compare all the ways and choose the best option. The advantage of this is that it helps an individual determine if they can afford the purchase in relation to their budget. If a person can afford the repair and maintenance cost, then they can choose the means of transport. With public means on other hand, factors to consider include transportation fee for instance, how much a ticket costs. Through analysis of prices, one can compare the various means such as road, air, train and water and decide the best option. Ticket rates also undergo comparison when paying attention to the different modes. Air and road can at times be costly leading individuals choosing other means such as the railway. b. Availability of materials This mostly affects private means of transport where individuals check on the availability of spare parts. The concept revolves around the questions of how accessible and available the materials used in the repair are. This is crucial as it helps determine which means is easier to fix and how accessible it is. It also evaluates the means necessary to purchase the spare parts. Maintaining and repairing of components are needed when considering the use of private means as it would help make sure that the means are stable and in good condition. 5 c. Distance it can cover The distance the means of transport can cover is also an important factor as it helps ensure that the can cover the expected distance without any problem. If it can cover a long distance at a low cost and without breaking down then it is a better means of transport compared to others. Another aspect is that if it can cover a long distance in a short time, it is preferable. d. The speed The speed is about how fast the means can go a certain distance. Air is preferable in these situations. The choice of speed relies on how fast or the urgency of an individual to be at a particular destination. Most people prefer means that are fast as they help save on time. e. The use of the means This is about the purpose of the transportation. If it is to carry individuals, then capacity is considered. In this regard, it would help if knew about the number of people it takes. If it is goods, then one has to think if it can handle heavy goods. 6 f. The infrastructure condition The state of the infrastructure in the area would help determine what kind of transportation to choose. An example is a road where one has to consider the condition of the roads in the area to know what kind of vehicle to buy which would be able to work effectively in the conditions. This would ensure that the means chosen are capable, best suited and easier. g. Luxury It centers on the comfortability of the ways and evaluates how easier the ways are. In determining the favorable means of transport, one has to consider every aspect of comfortability, which explains why in planes there are various classes with the business class being the most expensive and luxurious. h. Convenience It centers on the availability of the means of transport to the individual. If it is public, factors such as how close it is to the individual are in play, and if there are private, factors such as parking space are in play. The timing of when to access the means is should also be convenient as it signifies availability. Demonstrate how individual respond to changes in the market a. Income Individuals react differently to either income increase or decrease with people holding strikes to demand income rise. This with an aim of ensuring they have a stable lifestyle and meeting their basic needs. The increase in income leads to some people over spending while others save and invest in the money. In the overhaul, through people’s investments, the government also benefits from this with the economy steadily rising. Income is vital to most individuals as it shows the fruits of their labor. The rise of revenue motivates and encourages people to work harder. This helps improve job productivity and leads to rising in a state’s economy. The development of also infrastructure is also dependent on people’s labor ability.7A decrease in income, however, affects the individual’s lifestyle significantly to the point that it affects their preferable means of transport... b. Prices of vehicles Pricing is the only way in the market that helps bring about income and profit. The price plays a role in affecting individual’s consumer power in the various means of transport for instance; individuals are very resistant to any change that raises the prices of the means. One advantage of pricing is that it helps bring about competition, and a favorable price exists among customers when choosing the means. The favorable price has its origin on the past prices of the means and its demand on the market. If the prices start to change by going up, individuals become, reluctant in purchasing that type of vehicle and turn to other forms or makes. They then go for an alternative vehicle or one that cheaper and can provide the same level of service. Price is a significant factor that influences individuals’ choice to a particular type of vehicle as opposed to another. To counteract this, motor dealers should have in mind that a good discount will attract a good number of individuals. Most customers respond to vehicles with a good discount as they see the price to be fair. A change in the discount would cause either an increase or decrease in some customers. c. Petrol prices They cause a significant reaction from individuals with most of them turning to the government. They actively engage in protests so that the amount of fuel undergoes regulation. With such responses, individuals then start to go for public means of transport as they consider it cheaper than private means. When prices go down, they respond by most using private means. This in turn, increases traffic on the roads. On the other end, it helps those who use fuel on other machineries enhance their productivity. It is critical for fuel to be affordable as if not so many activities get on hold. d. Parking fees The response gotten from the increase in parking fees is that individuals now prefer to either park out of town or use public means the whole time. It can also lead to the demonstration in the streets if it if too much. Parking fees are necessary but should remain fair at all times.8 Discuss government/university policies that intend to change transport choices and evaluate its effectiveness One system that the Australian government has to change about transport choices has to with the integration of transport plans. This would help ensure the increase in value mainly to transport choice. This helps ensure improved convenience or availability, comfort, protection and functionality in cities and towns that would facilitate more sustainable transport outcomes. The government has a plan on increasing quantity transport system. The aims of this being to improve and ensure the level and superiority of public transportation facilities to ensure improvement assures that there will be need to be actual developments in consistency swiftness of travel, service occurrence, security and safekeeping, and ease of use. Incorporated transport arrangement targets ensure that there is an appropriate, harmless and unified transportation infrastructure for different transport means such as the reserved car, goods, public transport, walking and pedaling, which results in improving the community’s convenience to work, amenities, regeneration and other day-to-day events.9 The management under the ministry of transportation has a 2031 strategy for Perth geared towards mapping out the future of Perth’s public transport network. This is a tactical choice in that it aims at spreading the traveler’s rail network and maintaining a fully integrated system that allows people to move around the city with ease. . Conclusion It is from all this that one can learn the importance of not only the transport system but also a good transportation network. In Australia, one can see that the government has taken transportation as one of the ways to measure level of development. It has policies that govern transport system and transportation. It also has set goals, has objectives and future strategies to ensure the goals are achievable. Individuals or citizens are very engaged in the system. They are active in matters concerning transportation, as they understand the importance of transportation means in their country. Bibliography Read More