World`s Most Valuable Brand Resonation With Categories of Different Customer Needs

One of the key performance indicators of brand success is its value. Brand value is an outcome of brand`s performance in market, and is largely depended from brand`s ability to satisfy certain customer needs. For the greatest success in the world`s market brand should resonate its ability to satisfy some of customer`s most universal needs. In this paper authors strives to find out which of the needs world`s most successful brands are resonating with. Therefore paper goal is to is to determine what customer needs world`s most valuable brands are primarily satisfying. First part of paper authors briefly evaluate Maslow theory of needs. In second part of paper authors identify main challenges …

Digital promotion as solution for integrated marketing communication in business

Sustainable Marketing – Prospects and Challenges under Present Economy

The article reflects on the attitude, understanding and knowledge on sustainable marketing, as well as the essence of sustainable marketing,the strategy of its practical use and the concept of development. As a result of research, definitions of sustainable developmentand sustainable marketing and a model of concept of motivation of its use at a company were developed and the strategy of practicaluse of a sustainable marketing and the motivation of use at Latvian companies was ascertained, confirming the initially advancedhypotheses. In order to fulfil the purpose and objectives, the authors used the following quantitative and qualitative methods ofeconomic research: polls, comparisons, gro…

CONCEPTUAL MODEL IN INTEGRATED MARKETING COMMUNICATION

Integrated marketing communications are developing, with IMC approaches to communication with consumers seeing further enhancements in the scientific literature. However, in order to reach the marketing targets, a variety of IMC tools may be used in combination when implementing marketing activities. Despite each IMC tool in itself being highly distinctive, they all depend on each other in the creation of product consumption value and the enhancement of economic, communicational and social benefits. Purpose of the paper: The goal of the research is to assess the integrated marketing communications used in the marketing strategy of Latvian food retail chains. Methodology/methods: The followi…

Impact of Regulatory Decisions of the Republic of Latvia on Sustainable Product Supply Provided by the Food Retail Chains

This article reflects the impact of regulatory decisions of the Republic of Latvia on the food retail sector and sustainable product supply provided by food retail chains, as well as on operational trends. Attention has been drawn to the law of the Republic of Latvia on the key characteristics of foodstuffs and sales on the market. The research covers development of classification of the main instruments characterizing the products subject to the national regulation, as well as development of a scheme of the impact of the Latvian authorities on the operation of food retail chains. To implement the goal and tasks of the research, the authors have applied quantitative and qualitative research…

Barriers to the Development of Regional Competitiveness in the Context of Regional Economies - EU, Latvia, Region Vidzeme Case Study

Innovation potential and the creation of new knowledge, which is considered to be one of the main drivers of economic development, is particularly emphasized in region development [1, 2, 3]. However, in effect regions face significant barriers to the development of innovation and smart specialization. Despite strong institutional support impulses, the current contribution of regions to national competitiveness is debatable. As an example, the study analyses one of the regions of the EU Member State Latvia (Vidzeme), its contribution to national productivity and the main obstacles to the development of the region’s innovations - smart specialization. The results obtained in the context of a …

Influence of integrated marketing communication tools upon consumers’ buying decisions in the context of sustainability

A topical business subject of nowadays is the influence of integrated marketing communications (IMC) for sustainability upon various consumer audiences and their buying decisions. From the standpoint of businesses the use of integrated marketing communications in product promotion contributes to the consumption of sustainable, ecological products and, consequently, a healthy lifestyle, yet the factors influencing buyer’s buying decisions still remain topical. In this research the authors surveyed buyers of Latvian food retail chains to find out the influence of promotion-related integrated marketing communication tools for sustainability upon buyers’ buying decisions. The research brings co…

Consumer behavior affecting factors leading to increased competitiveness during holiday season

PRICE AS AN INTEGRATED MARKETING COMMUNICATION TOOL IN PROMOTING THE CONSUMPTION OF SUSTAINABLE PRODUCTS

There are favourable conditions for the development of sustainable marketing in Latvia. In order to take advantage of this, businesses need to conduct market research on the need and demand for sustainable products and draw up a marketing strategy encompassing all the marketing mix elements serving the People, Planet, and Profit. Businesses need to create a well-thought approach, a sustainable product assortment and promotion and selling activities in line with sustainability conditions. The consumers of nowadays are very sensitive to any price changes, and businesses may use price changes as an IMC (integrated marketing communication) tool in communication with their consumers to help not …

INTEGRATED MARKETING COMMUNICATIONS IN SUSTAINABLE BUSINESS

Business sustainability hinges on authorities’ action, cooperation and willingness to protect nature and natural resources, but they also have to meet the economic needs and cultivate the economic opportunities, whilst also satisfying the social needs and building a fair relationship among the different social groups. One of the ways to develop a sustainable business is integrated marketing communications. When using integrated marketing communications, businesses – notably food producers and retailers – need to focus on the education of consumers, the ecological performance and impact of products on the environment and human health, thus contributing to a sustainable development of Latvia’…

Integrated marketing communication as a business management tool in the context of sustainable development

AbstractThe problem of nowadays is that consumers lack information on food products, their composition and quality, nutritional value, packaging, its impact on the human health and environment, reuse and recycling possibilities, etc. Integrated marketing communications (IMC) as a business management tool may not only draw the consumers’ attention and incite a purchase, but also provide information and serve as a facilitator of consumers’ knowledge and competence on products, their nutritional value, use and utilisation. The goal of the research is to assess the impact of IMC for sustainability upon demand at Latvian food retail chains and the impact of the use of IMC for sustainability upon…

TRENDS IN THE DEVELOPMENT OF INTEGRATED MARKETING COMMUNICATION IN THE CONTEXT OF DIGITAL MARKETING

Nowadays, in the context of digital marketing and social media development, with the advantages given by technologies and the vast possibilities of communication among consumers, businesses find the implementation of integrated marketing communication influenced by the Internet as a marketing communication environment where businesses are urged into a customer-centric approach by the consumers’ changing habits of receiving information. This results in an increased role of content marketing, relationship orientation, dialogue and network communication, management of multiple stakeholders etc., which envisages consumer involvement with a view to mitigating the consequences caused by the obsta…

Integrētā mārketinga komunikācija Latvijas pārtikas mazumtirdzniecības veikalu ķēžu uzņēmumos ilgtspējīgas attīstības kontekstā

Promocijas darbā pētīta integrētā mārketinga komunikācija ilgtspējīgas attīstības kontekstā - tās loma un nozīme, ietekme uz pieprasījumu, pircēju rīcību tirgū, pircēju pirkšanas lēmumiem. Identificēti pircēju pirkšanas lēmumus ietekmējošie kompleksie faktori ilgtspējīgas attīstības kontekstā, kā arī izstrādāts integrētā mārketinga komunikācijas konceptuālais modelis ilgtspējīgai attīstībai, kas pielietojams uzņēmumiem praktiskajā darbā un komunikācijā ar sabiedrību vides saglabāšanas, sociālās atbildības un ekonomikas attīstības kontekstā. Izstrādātais modelis izmantojams arī pētniekiem, lai tā sakarības pielāgotu un novērtētu citu nozaru uzņēmumu praktiskā darba pilnveidē. Latvijā līdz ši…

Sustainability: Economic, Environmental and Public Issues. Marketing Possibilities

The research aims to update the corporate marketing role in promoting sustainability. The study is based on the assessment of today’s economic, ecological, and social responsibility issues, as well as public issues associated with the development of sustainability. The following scientific research methods have been applied in the research: analytical, comparing, graphical, statistical and surveillance methods. The authors have studied sustainability issues, i.e., economic, environmental and social, in the world and particularly in Latvia, as well as their impact on public welfare. In research, there was chosen and analysed the Latvian food retail industry, which makes a significant contrib…

THE INFLUENCE OF INTEGRATED MARKETING COMMUNICATIONS ON THE DEMAND OF SUSTAINABLE PRODUCTS AT LATVIAN FOOD RETAIL CHAINS

Research background: There are a number of product-related tools subject to regulation by state authorities and controlled by subordinate authorities. From the viewpoint of sustainable development, novelties in the legislation, government regulations and other regulatory enactments would enable the state to not only enhance the assortment of sustainable products at food retail chains, but also to raise the awareness of consumers, thus also triggering changes in demand for sustainable (ecological, environment-friendly, high-quality) products. Consumers lack information on the characteristics of the products purchased; they are not knowledgeable about the nutritional value, packaging, raw mat…