Creating Value for the Consumer Through Marketing Communication Tools

Viktorija Kovanoviene,Wjatscheslav Baumung,Giedrius Romeika

doi:10.7441/joc.2021.01.04

Abstract

The situation in the markets is changing rapidly and competition in the business sector is increasing rapidly. As a result, corporate marketing decisions are based on creating greater value for the consumer, which creates competitiveness and provides an advantage in competing for future customer loyalty. The purpose of this study is to determine whether there is a link between marketing communication tools and consumer perceived value in pursuit of consumer loyalty. Qualitative (observational research) and quantitative (a questionnaire survey) research methods were used to investigate the problem empirically. The observational research elucidated the value provided to the consumer by the research objects through marketing communication tools, supplementing the key questions for the quantitative study. Correlation and regression analysis were used in the study, with the results showing a statistically significant relationship between marketing communication tools and consumer perceived value in terms of user loyalty. It has also been determined that the greatest and strongest relationship in consumer value creation through marketing communication tools is the appropriate, mutually coordinated and complementary use of a package of marketing communication tools to achieve synergies that create the preconditions for increasing consumer loyalty in a competitive market.

Highlights

The competitiveness of an organization ensures its long-term success in the business world
It is believed that the consumer is incentivized by an organization that meet his/her needs which are met by marketing communication tools establishing consumer confidence, dedication and satisfaction, all of which foster consumer loyalty in the product, service or brand (Simova, 2009; Hassan, 2012; Keller, 2013; Strydom et al, 2015; Zhang et al, 2016; Wu & Li, 2017; Sánchez-Gutiérrez et al, 2019)
To understand which regressor is more influential in the model, we looked at the standardized coefficient Beta, through which we can see that the least influential regressor is “Personal Sales” (Beta – 0.529), and the most influential regressor “Marketing Communication Tools” (Beta – 0.789)

Summary

Introduction

The competitiveness of an organization ensures its long-term success in the business world. Successful competition entails the creation of value for the consumer that cannot be offered by competitors (Keller, 2013; Malik et al, 2013). It is believed that the consumer is incentivized by an organization that meet his/her needs which are met by marketing communication tools establishing consumer confidence, dedication and satisfaction, all of which foster consumer loyalty in the product, service or brand (Simova, 2009; Hassan, 2012; Keller, 2013; Strydom et al, 2015; Zhang et al, 2016; Wu & Li, 2017; Sánchez-Gutiérrez et al, 2019)

Objectives

Methods

Results

Conclusion