Contemporary Market Research Articles

ICT Growth and the Fintech Boom: A Mismatched Capability Perspective from Nigeria

This article draws on both, dynamic capability theory and reviews of contemporary market research studies to assess the sustainability of Nigeria’s burgeoning fintech sector. It highlights the need for targeted education and training schemes to address a skills-driven, dynamic capability mismatch between larger and micro-enterprise employers in Nigeria’s organizational landscape. The talent pool of qualified candidates is limited, competition is intense, and the fintech boom has led to substantial emigration of the young and digitally skilled. Although unevenly distributed government efforts are evident, micro-employers have yet to benefit from these interventions.

Research on the Influencing Factors of Consumption Intention of Psychological Tourism Products and Marketing Strategies

In response to the growing mental health challenges faced by individuals in modern society, psychological tourism products have emerged as a significant area of interest. This paper aims to define the concept of psychological tourism products, highlighting their critical importance in the contemporary market. It explores the factors influencing consumer purchase intentions regarding these products, focusing on cognitive aspects, pricing strategies, precise customer identification, and innovative product design. Additionally, the paper delves into the corresponding marketing strategies that can effectively enhance consumer engagement and satisfaction. By examining these factors, the study offers valuable insights for the tourism industry, providing targeted directions for marketing optimization. The goal is to facilitate the successful positioning and promotion of psychological tourism products in a competitive market. This paper holds both theoretical and practical significance, contributing to the ongoing innovation and development of marketing strategies within the tourism sector. By addressing the nuanced needs of consumers seeking psychological benefits from their travel experiences, it aims to foster a deeper understanding and better implementation of effective marketing approaches. The findings can ultimately support the industry in creating meaningful and impactful tourism products that resonate with consumers’ psychological well-being.

Exploring the Power of Images and Videos in Visual Storytelling and Content Marketing: Airtel Ovajara as a Paradigm

This study examined the significant power of images and videos in visual storytelling and content marketing using Airtel Ovajara as a paradigm. In today’s digitally saturated landscape, the inability of content marketers to capture attention, convey complex ideas, and build brand authenticity using good images and videos has left some businesses in constant battle for audience/customer acceptability. Employing the Consumer behaviour theory which provided insights into the psychological processes that influence consumer responses to images and videos in visual storytelling, the paper explored the strategic ways in which Airtel Ovajara used images and videos to craft compelling narratives that not only showcased the brand but also fostered genuine connections with customers. The study adopted the mixed research methodology of content analysis and Key Persons Interviews (KPI) to understand the common themes, strategies and elements that position Airtel Ovajara’s visual storytelling as a successful marketing strategy. The use of images and videos as part of this strategy has revolutionized how brands engage with consumers, offering a dynamic way to communicate messages and evoke emotions. The study recommended a valuable insight into the strategic use of visual content to build stronger connections with audiences, demonstrating that effective visual communication was key to contemporary marketing.

An integrative model of the key factors determining consumer behaviour towards street food

PurposeThis study examines how street food affects urban culture, economics and sustainable tourism. It examines how street food stands, as a cultural and economic phenomenon, influence consumer behaviour and local traditions, particularly in Oman’s evolving street food scene.Design/methodology/approachAdopting a quantitative research design, this study utilises an integrated model combining the Stimulus-Organism-Response (S-O-R) and Attitude-Social-Influence-Efficacy (ASE) models. This approach facilitates a comprehensive analysis of the factors influencing consumer behaviour towards street food consumption. The methodology includes surveys and structured interviews with consumers and vendors to assess perceptions, attitudes and behaviours linked to street food in Oman.FindingsThe research identifies key sociocultural, economic and marketing factors that significantly influence consumer engagement with street food. It highlights how traditional elements, such as local customs and societal norms, interplay with contemporary marketing strategies to shape consumer preferences and experiences. The findings suggest that street food not only enhances the culinary experience for travellers but also plays a crucial role in the sustainable development of local tourism economies.Originality/valueThis study contributes to the existing literature by providing a novel empirical exploration of street food consumption in Oman, a relatively underexplored area within tourism research. It offers valuable insights into how street food can be leveraged to bolster local economies and enrich the tourist experience through sustainable practices. By integrating the S-O-R and ASE models, this research provides a unique framework for understanding the dynamic relationship between street food culture and consumer behaviour in a Middle Eastern context.

Impact of Celebrity Endorsements on Consumer Buying Decisions – A Conceptual Framework

The use of celebrity endorsement has become a prevalent strategy in contemporary marketing, embraced by numerous large corporations. This approach is characterized by a well-known individual leveraging their public recognition to promote a specific product or service. The study employed exploratory research methods alongside a qualitative framework, which included an extensive review of existing literature, leading to the development of a conceptual model. The findings of the research indicate that certain key attributes are essential for a celebrity to be deemed suitable for endorsement roles. These attributes include congruency, flexibility, expertise, attractiveness, longevity, and likeability, all of which contribute to the effectiveness of the endorsement in enhancing brand visibility and consumer engagement.

Research on Marketing Strategy based on Social Media Big Data

With the rapid advancement of internet technologies, social media platforms have emerged as pivotal channels for information exchange and dissemination. The vast amounts of user-generated data provide businesses with unprecedented insights. The analysis of big data from social media allows for more precise and effective marketing strategies. This paper aims to explore the characteristics of big data from social media and analyze its applications in marketing strategies. By delving into data types, volumes, structures, and user behavior, it reveals the main challenges businesses face in big data applications and proposes corresponding solutions. Precision marketing, brand management, market trend forecasting, and crisis management are significant areas of application for big data in marketing. This paper, through a detailed examination of these strategies, highlights the potential and challenges of big data in contemporary marketing. Ultimately, it seeks to offer theoretical support and practical guidance for businesses on how to develop and implement effective marketing strategies in a big data-driven market environment.

CONSUMER PROTECTION IN HIRE PURCHASE TRANSACTIONS: A CASE STUDY OF GHANA’S LEGAL FRAMEWORK

Objective: This study critically examines the effectiveness of Ghana's Hire Purchase Act 1974 in safeguarding consumer interests in modern hire purchase agreements. Theoretical Framework: The focus of analysis is the regulatory framework for hire purchase transactions in Ghana in comparison to UK and Australia. Method: The methodology adopted for this research comprises [concisely describe the study design, including approach, participants, instruments, procedures, etc.]. Data collection was carried out through [explain the specific methods used, such as interviews, questionnaires, observations, among others. Results and Discussion: The Act provides fundamental consumer protections through requirements for written agreements, disclosure of terms, and rights to terminate agreements. However, it faces challenges in addressing contemporary market realities, particularly digital transactions, and in providing accessible dispute resolution mechanisms. The study identifies key areas for improvement, including modernization of the Act, introduction of alternative dispute resolution options, strengthening enforcement capabilities, and enhancing consumer education initiatives. Research Implications: These findings contribute to the ongoing discourse on consumer protection in Ghana and offer valuable insights for policymakers considering reforms to the hire purchase regulatory framework. The research emphasizes the need for a balanced approach that enhances consumer protections while maintaining a vibrant hire purchase market in Ghana. Originality/Value: Overall, the study offers a unique and valuable perspective on the effectiveness of Ghana's Hire Purchase Act and provides actionable recommendations for improvement.

The Role Of Accounting Data In Modern Marketing Decision-Making

This study aims to analyze the role that accounting information plays in the decision-making process of contemporary marketing. This research seeks to establish a connection between marketing activities and accounting procedures by investigating the views and methods utilized by marketers who are employed by a wide range of firms. This investigation uses a qualitative case study methodology to analyze how marketers exploit accounting information. Specifically, the study focuses on. In addition, it brings to light the difficulties connected to the integration process and offers suggestions for improving collaboration. On the other hand, the findings highlight the necessity for increased data accessibility, analytical capabilities, and alignment across various domains. The findings also indicate that there is a rising realization of the value of accounting data. The current body of knowledge is expanded as a result of this study, which adds to the extension of the existing body of knowledge by presenting empirical evidence on the application of accounting data and providing practical ramifications for businesses and marketers

The Future of Marketing and Marketing Education

Employers expect university graduates seeking entry-level marketing jobs to be well-versed in contemporary topics, such as sustainable development, digital marketing, big data, analytics, and the role of artificial intelligence (AI) in both traditional and contemporary marketing domains. Because many of today’s cutting-edge technological advances are deeply relevant to marketing, marketing educators must reconsider how they prepare marketing students to enter the technology-enabled world and workforce. The authors propose that marketing educators adapt their teaching of foundational marketing concepts to reflect the technology-augmented marketing era. Such reconsiderations span multiple arenas, including how classes are conducted, which topics are covered, how assignments are crafted, and how technology—and AI and generative artificial intelligence (gen AI) in particular—will transform future marketing roles. The authors also suggest ways educators can modify and reimagine existing marketing courses to prepare students for a successful entry into technology-enabled marketing jobs, as exemplified with some sample class assignments.

Using machine learning to develop customer insights from user-generated content

Uncovering customer insights (CI) is indispensable for contemporary marketing strategies. The widespread availability of user-generated content (UGC) presents a unique opportunity for firms to gain a nuanced understanding of their customers. However, the size and complexity of UGC datasets pose significant challenges for traditional market research methods, limiting their effectiveness in this context. To address this challenge, this study leverages natural language processing (NLP) and machine learning (ML) techniques to extract nuanced insights from UGC. By integrating sentiment analysis and topic modeling algorithms, we analyzed a dataset of approximately four million X posts (formerly tweets) encompassing 20 global brands across industries. The findings reveal primary brand-related emotions and identify the top 10 keywords indicative of brand-related sentiment. Using FedEx as a case study, we identify five prominent areas of customer concern: parcel tracking, small business services, the firm's comparative performance, package delivery dynamics, and customer service. Overall, this study offers a roadmap for academics to navigate the complex landscape of generating CI from UGC datasets. It thus raises pertinent practical implications, including boosting customer service, refining marketing strategies, and better understanding customer needs and preferences, thereby contributing to more effective, more responsive business strategies.

Nostalgic consumer trends and nostalgia marketing

Over the last few years, we have observed an intensification of nostalgic consumer trends manifested through choices and behaviors that reflect sentimental attachments to the past. In parallel, we increasingly note a growing presence of marketing activities that tap into the emotions and experiences tied to consumers’ memories. These efforts link brands and their campaigns to positive concepts or ideas from the past. Nostalgia marketing relies on evoking positive feelings about the past and applies to products, marketing communications, and brand experiences. The article seeks to identify trends based on nostalgia, both in terms of consumer behavior and marketing practice. The author presents the essence of nostalgia marketing and the research domains on nostalgic consumer behavior. The article describes nostalgic consumer trends in the context of their determinants. It identifies nostalgic strategies and trends in contemporary marketing practice. The objectives are realized based on a literature review supported by bibliographic analysis, desk research based on available quantitative and qualitative research results, and content analysis of campaigns promoting nostalgic products and using themes and content related to nostalgia marketing. Insights on nostalgic trends and marketing approaches provide the basis for identifying practical and research recommendations.

Examining 360° video tourist experiences and adoption in a developing country

Purpose Understanding tourist experiences with virtual reality (VR) products is essential for firms using VR for tourism marketing, particularly in developing countries where customers do not have access to personal VR devices or gadgets. This study aims to provide insights into technology usage for tourism marketing India, which is a developing country. It explores 360° virtual tours as an upcoming strategy for tourism promotion by analysing tourists’ perspectives through a qualitative approach. Design/methodology/approach 360° YouTube video launched by the Ministry of Tourism, Government of India, was shown to the participants as a marketing stimulus, followed by questions to understand tourists’ experiences and intentions. Responses were collected from 45 tourists who visited popular tourist destinations such as Shimla, Manali and Dharamshala districts of Himachal Pradesh, India. Findings The findings of the study indicate that several crucial elements play a pivotal role in creating the 360° VR experience. Based on interviews, it was found that 360° video experiences assist in visualising a destination through imaginative exploration, generating curiosity about the destination, forming a favourable image of the destination and facilitates ease of experience. A few participants mentioned experiencing discomforts, such as motion sickness and eye strain, while viewing 360° videos. Moreover, tourists provided valuable insights into various factors, including how 360° videos elicit arousal through entertainment and excitement, develop immersion and engagement in the virtual environment (VE), aid in assessing destination suitability, offers advantage over other media, serves as a substitutes for travel during constraints, generates assurance and influences intentions. These factors have emerged as significant considerations influencing their willingness to adopt such technology in the future. Originality/value In the contemporary market landscape, 360° VR technology is anticipated to enhance the experiential elements within VEs. While existing research has focused on the technical attributes of VR, there remains a crucial gap pertaining to the experiential and destination-related elements and their influence on usage, travel planning and intentions. Therefore, this study provides deeper insights into the unexplored concepts and dimensions of the virtual tourism experience, particularly concerning interaction with 360° videos. The study contributes novel insights to the existing body of tourism literature and provides practical implications for enhancing 360° virtual tour experiences.

Research on Value and Influence of Chinese Traditional Culture in Contemporary Cultural and Creative Arts Industry

This paper deeply discusses the value and influence of Chinese traditional culture in the contemporary cultural and creative arts industry. First of all, it introduces the basic concept, development course and the role of Chinese traditional culture and cultural and creative arts industry in today's social and economic development. Secondly, it analyzes the application practice of traditional Chinese cultural elements in the cultural and creative arts industry, including product design, creative planning and value dissemination. Then, it deeply analyzes the positive impact of calligraphy, painting, ceramics and other representative fields on the contemporary market after combining modern design concepts. At the same time, the possible problems and challenges in the process of integration are discussed. Finally, this paper summarizes the role of the government in promoting cultural exchanges between China and foreign countries, and looks forward to the future development.

Design and Evaluation of Packaging Art Based on Sentimental Value Calculation and Clustering

This paper introduces the cultural dimension of product packaging, elucidates the quantification principle and methodology governing customer aesthetic experiences, propounds an innovative packaging style design approach, and presents an evaluation model based on an enhanced neural network. Using tea packaging design as an illustrative case, the methodology initially aligns adjectives, subsequently computes the emotional depth value, and ultimately derives the corresponding correlation between customer emotional experiences and design elements through a neural network. Subsequently, the designed model is validated using tea packaging design as a practical example. The outcomes demonstrate the model's accuracy and efficacy in establishing the mapping between design elements and aesthetic experiences, offering novel insights for the evolution of packaging design in the contemporary market landscape.

Beyond gender: The evolving significance of pink in the contemporary marketing

This study investigates the influence of pink in marketing, focusing on its impact on female consumer behavior, particularly in light of the Barbie movie’s recent popularity. It analyzes the psychological and historical significance of pink, and its economic implications in marketing strategies. This study conducts an in-depth literature review and case study analysis to explore the cultural and psychological significance of the color pink in marketing and its influence on consumer behavior beyond different genders. The originality of this study lies in its multifaceted exploration of the interplay between the color pink and female consumer behavior, particularly through the lens of cinematic imagery. By focusing on the cultural and psychological significance of pink in films and its subsequent impact on fashion trends and marketing strategies, this research uniquely bridges the gap between color symbolism and contemporary consumer behavior.

The Role of Advertising in Shaping Consumer Perceptions of Sustainable Brands

This research investigates the pivotal role of advertising in shaping consumer perceptions of sustainable brands, delving into the intricate mechanisms by which advertising strategies influence consumer attitudes and behaviors towards sustainability. Through an extensive review of literature, empirical findings, and prospective research directions, this study illuminates the nuanced landscape of sustainability advertising and its profound implications for marketers and consumers. The research underscores the burgeoning significance of sustainable branding within contemporary marketing paradigms, propelled by the escalating consumer interest in sustainability and ethical consumption. Empirical investigations affirm a robust positive correlation between advertising exposure to sustainable brands and consumer perceptions, underscoring the substantial impact of advertising on molding attitudes and driving purchase behavior. The researcher explores the influence of advertising on consumer perceptions of sustainable brands, through a comprehensive review of literature, qualitative and empirical analysis, investigates the mechanisms by which advertising strategies impact consumer attitudes and behaviors towards sustainable brands, explore theories and concepts that provide insights into the mechanisms by which advertising strategies impact consumer attitudes and behaviors towards sustainable brands. Additionally, present the findings of empirical analysis, which further elucidates these relationships and sheds light on the significant role of advertising in shaping perceptions of sustainability and provide insights for marketers aiming to promote sustainable products and initiatives.

Analysis of the Brand Visual Needs System from the Perspective of Contemporary Market Demands

Brand visual design is not only an essential bridge for companies to convey their ideas and values but also a key factor in shaping the brand image and enhancing market competitiveness. However, a pervasive concern has arisen in society that many recent graduates in brand design and visual design cannot immediately meet the demands of the design industry. Despite attempts by scholars to reform courses and teaching philosophies, there are still significant shortcomings and gaps. Therefore, based on market orientation and supply-demand concepts, this study collected in-depth recruitment demands for brand design from 74 companies and conducted systematic summarization and analysis. It synthesized a demand model consisting of three major modules and 55 content points required by companies for brand design students. Based on these demands, adjustments and plans were made to the curriculum content, aiming to construct a teaching system that not only meets market demands but also enhances students’ comprehensive qualities. The goal is to cultivate more outstanding talents capable of quickly adapting to and excelling in brand design work.

Beyond-money framing and customer decision to patronise Islamic banking: an experimental study

PurposeThe recent growth of Islamic bank (IB) assets in Indonesia has been mainly driven by government interventions rather than the organic development on the demand side. A novel approach to attract new consumers, increase market share and accelerate its development is the need of the hour. This study aims to propose beyond-money framing that promotes the Shari’ah and social dimensions of IB’s products on top of its contemporary marketing strategy. This paper examines whether this technique can advance IBs selection.Design/methodology/approachThis paper uses the (online) laboratory experiment involving 192 high- and low-literate participants from Generation Z (Gen Z). Using difference tests and Logit regression, this paper examines the impact of beyond-money framing on customers decision-making.FindingsBeyond-money framing has a significant impact in influencing customers decisions to select profit-and-loss sharing (PLS) products offered by IBs. The effect of the framing accelerates in the high-literate customers.Research limitations/implicationsThe contract examined is only the PLS one (mudharabah). Respondents are also restricted to Gen Z. This study does not separate the effect of Shari’ah and social aspects from beyond money framing.Practical implicationsTo attract new customers, IBs should emphasise their products’ social and Shari’ah features rather than relying solely on a low-price strategy.Originality/valueTo the best of the authors’ knowledge, this paper is the first study proposing the framing strategy for IBs and examining its impact on IB’s product acceptance in Indonesia.

Marketing’s crystal ball: Where we are and where we could soon be with generative artificial intelligence in marketing

Generative artificial intelligence (GenAI) has emerged as a transformative force in contemporary marketing, offering unprecedented creativity and efficacy. From predictive analytics to real-time personalisation, consumer behaviour patterning to personalised content creation, GenAI empowers marketers to craft bespoke strategies tailored to individual needs. As deep learning and natural language processing advance, GenAI promises to revolutionise brand–consumer relationships, forging authentic connections in the digital ecosystem. This paper studies the rise of GenAI in marketing, weaving research insights and visionary foresight. The study provides practitioners with an overview of GenAI’s potential for enhancing marketing efficacy and insight into its possible applications.

The Influence of Fashion bloggers on Consumer Behavior: Exploring Credibility, Engagement, and Homophily among consumers in Lahore, Pakistan

The fashion industry is a vibrant and globalized sector with a rich tapestry of style and culture. In recent years, the rise of fashion influencers has significantly impacted consumer behaviour. This study investigates the sway fashion bloggers hold over consumers’ purchasing intentions, examining the dimensions of credibility, engagement, and homophily, with research objectives containing probing brand preferences, gauging the influence of bloggers’ appearance, analyzing purchasing decisions based on recommendations, and scrutinizing the positive impact of homophily on consumer behaviour. By employing a survey research technique, this study collected responses from 700 respondents, comprising 411 females and 289 males, primarily sourced from Lahore, Pakistan. The data analysis involves correlation tests to explore the relationships between fashion bloggers' credibility, engagement, homophily, and consumers' buying intentions. The findings reveal significant correlations between these variables, indicating that fashion bloggers play a crucial role in influencing consumer behaviour. The study contributes to the understanding of the role of fashion bloggers in the contemporary marketing landscape and highlights the importance of considering bloggers' credibility, engagement, and homophily in marketing strategies. These findings stress the need for fashion brands to cultivate genuine connections with consumers through influencer collaboration, enabling them to develop more effective marketing strategies and strengthen brand loyalty in the digital landscape.