Shift In Consumer Preferences Research Articles

Adaptation of strategic models of enterprises to industry markets

Introduction. In the contemporary conditions of global business, enterprises constantly face challenges associated with the need to adapt to dynamic industry markets. Rapid technological advancements, shifting consumer preferences, and unpredictable economic conditions require a strategic approach that enables enterprises to quickly and effectively adapt to them. The relevance of this study is driven by the necessity for enterprises to remain competitive and resilient amidst constantly changing market dynamics. In today’s fast-paced business environment, strategic flexibility is a prerequisite for survival and growth. Achieving organizational success requires understanding how enterprises can adapt their strategic models in accordance with the dynamics of the industry market. The purpose of this paper is to explore various strategies and approaches employed by enterprises to adapt to the dynamic structure of industry markets. Results. Based on a thorough analysis of existing literature and real-life examples, this paper draws several key conclusions. Firstly, it emphasizes the importance of strategic flexibility and agility for enterprises to seize new opportunities and mitigate risks. Secondly, it underscores the significance of market intelligence and data-driven decision-making to justify strategic adaptation. Thirdly, it examines the role of organizational culture, leadership, and innovation in enhancing enterprise adaptability. The conclusions drawn from this study highlight the importance of enterprises adopting a dynamic and iterative approach to strategic planning. Static, one-size-fits-all strategic models are no longer viable in today’s unstable markets. Instead, enterprises must foster a culture of flexibility and innovation, constantly reassessing their strategies in response to changing market trends and competitive pressures. Despite providing valuable insights into the adaptation of strategic models to industry market dynamics, some areas for further research remain insufficiently explored. Future research could delve into a deeper examination of specific industries or regions, elucidating how contextual factors influence strategic adaptation.

MARKET ACCESS FOR LOCAL GEOGRAPHICAL INDICATIONS AND MARKETING GI PRODUCTS: THE METRO EXAMPLE

This paper explores how the trend towards locality, transparency and geographically indicated products in the food industry reflects a shift towards conscious consumerism and how it transforms food marketing industry. There has been a paradigm shift in consumer preferences, with a growing emphasis on obtaining information about the quality, origin, and production methods of food. There is mounting pressure on food companies to provide information about their products. Studying the industrialization of geographical indications requires an exploration of how this phenomenon impacts local economies, traditional production methods, and the overall sustainability of the products in question.

Bata Corporation: A Comprehensive Profile of The Global Footwear Giant

Thomas J. Bata founded Bata Corporation in 1894, which has become a worldwide recognised name in the footwear industry, noted for its quality, affordability, and durability. Bata, headquartered in Lausanne, Switzerland, and active in over 70 countries, provides a varied range of products such as casual, formal, athletic, and specialised footwear, as well as accessories and apparel. This detailed analysis looks at Bata's strengths, including great brand recognition, a diverse product portfolio, and creative techniques. It also tackles the company's flaws, such as supply chain risks and insufficient financial transparency. Furthermore, the analysis investigates prospects for e-commerce expansion, entry into emerging markets, and exploiting sustainability trends, while also recognising dangers from fierce competition, economic changes, and shifting consumer preferences.

Dynamic Modeling and Control of a 4-Wheel Narrow Tilting Vehicle

The automotive industries currently face challenges such as emission limits, traffic congestion, and limited parking, which have prompted shifts in consumer preferences and modern passenger vehicle requirements towards compact vehicles. However, given the inherent limited width of compact vehicles, the potential risk of vehicle rollover is greater than that of regular vehicles. This paper addresses the safety concerns associated with vehicle rollover, focusing on narrow tilting vehicles (NTVs). Quantifying stability involves numerical indicators such as the lateral load transfer ratio (LTR). Additionally, a unique approach is taken by applying ZMP (zero moment point), commonly used in the robotics field, as an indicator of vehicle stability. Effective roll control requires a detailed analysis of the vehicle’s characteristic model and the derivation of lateral and roll dynamics. The paper presents the detailed roll dynamics of an NTV with a MacPherson strut-type suspension. A stability-enhancing method is proposed using a cascade structure based on the internal robust position controller and outer roll stability controller, addressing challenges posed by disturbances. Experimental verification using Simscape Multibody and CarSim validates the dynamic model and controller’s effectiveness, ensuring the reliability of the proposed tilting control for NTVs in practical scenarios.

Consumer Behavior and Preferences Shift: The Impact of Boycotting Imported Brands on Local Product Demand

This study investigates the impact of boycotting imported brands on local product demand, focusing on how customer sentiments (CS), perceived quality (PQ), social norms (SN), and advertising (AD) influence attitudes towards imported products (ATIP) and subsequently local product demand (LPD). Using a cross-sectional design and convenience sampling, data were collected via an online survey of social media users aged 18 and above. Structural Equation Modeling (SEM) using Smart PLS was employed to analyze the data. The results show that negative customer sentiments and strong social norms significantly reduce ATIP while increasing LPD. Advertising also negatively impacts ATIP and positively affects LPD. Perceived quality directly boosts LPD without significantly affecting ATIP. Mediation analysis reveals that ATIP mediates the relationships between CS, SN, AD, and LPD but not between PQ and LPD. The study's findings highlight the critical roles of sentiments, social norms, and advertising in shifting consumer preferences towards local products. Limitations include the use of convenience sampling, the cross-sectional nature of the study, and reliance on self-reported data, which may introduce biases. Future research should employ random sampling, longitudinal designs, and consider additional influencing factors like cultural and economic variables. Expanding the geographic and cultural scope of studies and utilizing diverse analytical techniques will provide a more comprehensive understanding of consumer behavior in the context of boycotting imported brands. These insights can guide policymakers and marketers in developing strategies to promote local products and sustain shifts in consumer preferences.

Research and Recommendations on Marketing Strategies for Small and Micro Wine Import Companies in China

The Chinese economy’s rapid growth has led to an increased standard of living and a shift in consumer preferences from price to quality, particularly in the wine market. The demand for imported wines has surged, with China becoming one of the world’s largest wine importers since 2016. The younger generation, aged 25 to 45, is particularly interested in wine, focusing on brand culture and the origins of the wine. This demographic shift, along with China’s economic openness and the rise of e-commerce, has created a thriving market for imported wines. Research on the wine industry shows that China’s wine imports have grown significantly since joining the WTO in 2001, with the EU dominating the import sources. The development of wine tourism has also provided new opportunities for the industry. In terms of marketing, it’s suggested that China learn from European wine marketing models, focusing on cultural marketing and differentiation strategies targeting young consumers. Consumer behavior analysis indicates that young consumers prefer wine during social gatherings and are influenced by education and travel experiences, while celebrity endorsements can effectively promote wine products. Thus, some marketing strategy recommendations are as follows: Small and micro wine import companies in China should focus on understanding consumer behavior and preferences, leveraging online and offline sales channels, and promoting wine culture to capitalize on the growing wine market.

Plant-Derived Bioactive Compounds: Exploring Neuroprotective, Metabolic, and Hepatoprotective Effects for Health Promotion and Disease Prevention.

There is a growing trend among consumers to seek out natural foods and products with natural ingredients. This shift in consumer preferences had a direct impact on both food and pharmaceutical industries, leading to a focus of scientific research and commercial efforts to meet these new demands. The aim of this work is to review recent available scientific data on foods of interest, such as the artichoke, gooseberry, and polygonoideae plants, as well as olive oil and red raspberries. Interestingly, the urgency of solutions to the climate change emergency has brought new attention to by-products of grapevine bunch stem and cane, which have been found to contain bioactive compounds with potential health benefits. There is a pressing need for a faster process of translating scientific knowledge from the laboratory to real-world applications, especially in the face of the increasing societal burden associated with non-communicable diseases (NCDs), environmental crises, the post-pandemic world, and ongoing violent conflicts around the world.

Novel embedding model predicting the credit card's default using neural network optimized by harmony search algorithm and vortex search algorithm

In today's banking and financial system, using a credit card has become indispensable. The credit card industry has existed due to a shift in consumer preferences and a rise in national economic growth. The number of issuing banks, card issuers, and transaction volumes has increased significantly. Nevertheless, owing to the growth in the number of transactions made with credit cards, both the total amount due and the rate of defaults on credit card loans have become issues that cannot be neglected. This issue must be resolved to ensure the continued and prosperous growth of the banking industry in the years to come. Currently, a few optimization algorithms—Whale optimization algorithm (WOA), Harmony Search (HS), Multi-verse optimization (MVO), and Vortex Search (VS)—have been used to achieve this purpose. However, because credit card default data is volatile and unequal, it is challenging for typical optimization algorithms to offer steady approaches with optimal performance. Studies have indicated that optimizing algorithms with suitable properties can significantly improve performance. To improve performance, some tuning was applied to the ANN. This study will assess twenty-three parameters, and the efficacy of all four approaches will be compared using ROC and AUC evaluations. The suggested model's performance is contrasted with a scenario where the classifiers were trained using original data. In contrast, the AUC values for VS-MLP were 0.7407 and 0.7271, while those for HS-MLP were 0.7074 and 0.6997. In the training and testing phases, AUC values of 0.7469 and 0.7329 from MVO-MLP and 0.72 and 0.7185 from WOA-MLP, respectively. The results show that the training accuracy of HS, VSA, MVO, and WOA are similar; MVO has the highest training accuracy. The credit card industry can benefit significantly from this methodology, which may help resolve default probabilities.

A STUDY ON CUSTOMER’S PREFERENCE TOWARDS ROYAL ENFIELD BIKES

The project examined “A STUDY ON CUSTOMER’S PREFERENCE TOWARDS ROYAL ENFIELD BIKES.” The automotive sector in India stands as one of the globe's largest and fastest-growing industries. With an annual production of over 18 million vehicles, including both two and four-wheelers, and exports exceeding 2.3 million units, India commands a significant presence on the international stage. Notably, it ranks as the world's second-largest producer of motorcycles, with eight prominent players contributing to the manufacture of 13.8 million units during the 2017-18 period. The journey of the Indian two-wheeler industry traces back to 1948 when Bajaj Auto initiated the import and sale of Vespa scooters in the country. Since its inception, the industry has witnessed a remarkable evolution, marked by shifting consumer preferences towards motorcycles and gearless scooters. These modern variants offer superior technology, enhanced fuel efficiency, and aesthetic appeal, eclipsing the demand for traditional metal-bodied geared scooters and mopeds. Consequently, this transformation in consumer behavior has significantly impacted the market dynamics, leading to the decline of erstwhile industry leaders and the emergence of new frontrunners. Key Words: Royal Enfield, Customer Preference, Automobiles, Satisfaction.

Digital marketing as an element of sustainable development: trends, challenges and opportunities

In the intersection of digital marketing and sustainability, emerging trends and innovations are shaping the landscape as businesses increasingly recognize the importance of environmental and social responsibility. The article is devoted to the impact of digital marketing solutions on the process of achieving sustainable development goals. It analyzes trends indicating a significant shift in consumer preferences towards environmentally friendly products and socially responsible consumer behavior. The article provides examples of several international campaigns that illustrate successful efforts contributing to sustainable development. The role of digital technologies in achieving sustainable development goals examined, emphasizing the necessity of integrating sustainability issues into corporate digital strategies.

Exploring the Impact of Packaging Design on Consumer Purchase Behavior for Northeastern Cereal Agricultural Products

This study endeavors to unravel the intricate relationship between packaging design and consumer behavior in the context of Northeastern cereal agricultural products. Focusing on the vibrant region of Song Yuan, Jilin, China, the study employs a multi-method approach encompassing fieldwork observations, content analysis, and consumer surveys. The investigation unfolds in three key dimensions: evaluating current packaging designs, understanding consumer perspectives, and gauging the acceptance of alternative designs. The findings reveal four distinct models of packaging design, each resonating differently with consumers. Traditional motifs evoke a sense of authenticity, while modern graphics enhance visual appeal and information communication. Consistency with brand identity instills trust, and informative packaging aids in informed purchase decisions. Additionally, the introduction of alternative designs presents an exciting prospect, especially among younger demographics, signifying a potential shift in consumer preferences. This research contributes a nuanced understanding of the pivotal role packaging design plays in shaping consumer choices for Northeastern cereal agricultural products. It provides actionable insights for businesses seeking to align their packaging strategies with consumer preferences, fostering brand loyalty and enhancing market competitiveness. This study serves as a valuable resource for practitioners, academics, and stakeholders invested in the dynamic interplay between design and consumer behavior.

Preserving culinary heritage: Challenges faced by Takoradi technical university food service lab students

Preserving culinary heritage is crucial for maintaining cultural identity, promoting sustainable food systems, and safeguarding traditional knowledge and practices. This study investigates the challenges faced by students at Takoradi Technical University's Food Service Lab in integrating traditional Ghanaian dishes into their menus, as well as the efforts undertaken by the university's Hospitality Management program to preserve Ghana's culinary heritage. A quantitative survey of 300 final-year students revealed that the primary challenge is difficulty sourcing fresh, quality ingredients for indigenous foods. Additional obstacles include concerns about guest acceptance, higher preparation costs, and perceived lack of skills in cooking traditional cuisine. These findings align with previous research highlighting issues like inconsistent supply chains, shifting consumer preferences, and erosion of culinary knowledge transmission across generations. The study also examined strategies for promoting culinary heritage, which encompass robust collaboration between stakeholders, integration of traditions into policies and curricula, and public outreach initiatives. These comprehensive approaches correspond with recommendations from literature emphasizing cooperation and mainstreaming culinary heritage preservation. To address the identified challenges, recommendations include implementing food literacy campaigns, updating vocational training curricula, and fostering partnerships between educational institutions, community groups, non-profits, and government agencies. By tackling these obstacles through strategic, coordinated efforts, Ghana can safeguard its diverse foodways for future generations while championing sustainable culinary practices.'

A Study on Consumer Behavior in Selection of Personal Care Products based on their Financial Status

This research delves into the labyrinth of consumer behaviour, dissecting the nuanced preferences in the realm of personal care product selection. Focusing on the pivotal influence of financial status, our study seeks to unravel the intricate tapestry of choices made by individuals across diverse economic backgrounds. From essential grooming items to indulgent self-care commodities, the research delineates the spectrum of consumer decisions influenced by income brackets. Moreover, it uncovers potential shifts in consumer preferences amidst economic fluctuations and their implications for the personal care industry. As we navigate through the labyrinth of consumer behaviour, this study not only contributes valuable insights to marketers and policymakers but also prompts a re-evaluation of societal perceptions surrounding personal care choices. By understanding the symbiotic relationship between financial status and consumer behaviour, we hope to foster a more nuanced discourse on the intricate dynamics governing our daily grooming rituals.

The Commercialisation and Commodification of Bollywood Music

This study explores the evolution of Bollywood music. Shifts in consumer preferences and consequently commercialisation, the cultural impact of this shift and its larged commodification of Indian elements for mass consumption. The study analyses the changes in song structure and composition in Bollywood which is owed to westernisation of the film industry as well as consumer preferences. It also takes into account the origin of classical Indian compositions while providing context for general changes in Indian classical music over time- which is what Bollywood music stems from. Furthermore, it examines the commodification of songs due to the dilution of the industry and digitisation making music production easily accessible. It also explains the commercialisation of Bollywood music as a reaction- a response to consumer preferences as compared to an independent evolution caused by digitisation.

INNOVATIONS IN BUSINESS MODELS THROUGH STRATEGIC ANALYTICS AND MANAGEMENT: CONCEPTUAL EXPLORATION FOR SUSTAINABLE GROWTH

In today's rapidly evolving business landscape, the integration of strategic analytics and management practices has become increasingly crucial for organizations seeking sustainable growth and competitive advantage. This paper aims to explore the concept of leveraging strategic analytics within business models to drive innovation and foster sustainable growth. The modern business environment is characterized by unprecedented levels of complexity, volatility, and uncertainty. Globalization, technological advancements, and shifting consumer preferences have disrupted traditional business models, compelling organizations to adapt or risk obsolescence. In this context, strategic analytics emerges as a powerful tool for organizations to navigate uncertainty, mitigate risks, and capitalize on emerging opportunities. Strategic analytics involves the systematic collection, processing, and analysis of data to inform decision-making processes and drive strategic initiatives. By leveraging advanced analytical techniques such as predictive modeling, machine learning, and data mining, organizations can gain actionable insights into various aspects of their operations, including customer behavior, market trends, and competitive dynamics. By leveraging advanced analytical techniques, organizations can gain a deeper understanding of customer needs, optimize internal processes, and anticipate changes in the competitive landscape. This enables organizations to drive innovation, foster sustainable growth, and create value for customers, shareholders, and society as a whole. Through a conceptual exploration, we examine the fundamental principles, challenges, and opportunities associated with integrating strategic analytics into various facets of business models. Drawing upon theoretical frameworks and empirical evidence, this paper elucidates the transformative potential of strategic analytics in reshaping traditional business models and creating new avenues for value creation. Furthermore, we discuss the implications for managers, policymakers, and researchers, highlighting the imperative of embracing strategic analytics as a cornerstone for driving organizational success in the digital age.
 Keywords: Business, Model Innovation, Sustainable Growth, Management, Strategic Analytics.

Artificial Intelligence in ESG investing: Enhancing portfolio management and performance

Artificial Intelligence (AI) has emerged as a transformative force in Environmental, Social, and Governance (ESG) investing, significantly enhancing portfolio management and performance. This paper investigates the integration of AI technologies within ESG investment strategies, elucidating their profound impact on decision-making processes and financial outcomes. By leveraging advanced data analytics and machine learning algorithms, AI empowers investors to analyze extensive ESG-related datasets, extract actionable insights, and identify investment opportunities aligned with sustainability objectives. The application of AI-driven ESG analysis enables investors to construct well-structured portfolios that not only aim for financial success but also adhere to ethical and sustainable principles. Through the utilization of AI, investors can systematically evaluate the environmental impact, social responsibility, and corporate governance practices of potential investments. This approach facilitates the identification of ESG risks and opportunities with greater precision and efficiency, leading to more informed investment decisions. Moreover, AI enables investors to dynamically adjust their portfolios in response to changing market conditions and emerging sustainability trends. By continuously monitoring ESG factors and leveraging predictive analytics, investors can proactively manage risks and seize opportunities to enhance portfolio performance over the long term. This proactive approach not only mitigates potential ESG-related risks but also positions investors to capitalize on emerging market trends and shifts in consumer preferences. Furthermore, the integration of AI in ESG investing fosters transparency, accountability, and stakeholder engagement within the investment ecosystem. AI-powered tools facilitate the dissemination of ESG-related information, enabling investors to make informed decisions that align with their values and sustainability goals. By harnessing the capabilities of AI, investors can drive positive environmental and social impact while achieving competitive financial returns. In conclusion, the utilization of AI in ESG investing represents a paradigm shift in portfolio management, offering investors unprecedented opportunities to navigate complex ESG challenges and achieve sustainable financial success.

COMMUNITY EMPOWERMENT AND INNOVATION AS A STRATEGIC BUSINESS RESILIENCE EFFORT FOR BATIK AND WEAVING BUSINESS ACTORS

Purpose: This study aims to analyze the factors affecting economic resilience in the batik and weaving SME industry in Indonesia, focusing on Pekalongan Batik, Yogyakarta Batik, and Tenun Sengkang. Theoretical Reference: This study integrates National Resilience Theory and Resource-Based View (RBV) to form a robust basis for business resilience, emphasizing community empowerment and innovation. Community empowerment builds batik and weaving businesses on skilled human resources, while innovation facilitates adaptation and growth. Together, they address external challenges like global competition and shifting consumer preferences, enhancing the resilience of batik and weaving enterprises. Method: The research method used was a qualitative approach with descriptive data collection through observation, interviews, and document analysis. The focus of this research is on empowerment and innovation in SMEs of Pekalongan Batik, Yogyakarta Batik, and Sengkang Weaving in Wajo Regency, South Sulawesi. Results and Conclusion: The study reveals that batik and weaving entrepreneurs highly value competitor analysis and the adoption of competitive best practices. Government support through community empowerment initiatives is vital for industry growth, offering crucial assistance such as training, education, and market expansion. Continuous community empowerment and regular program evaluations are essential. Effective collaboration among government, entrepreneurs, and stakeholders is key to fostering a supportive business environment, significantly enhancing the batik and weaving sector's development and overall welfare. Implication of Research: Effective community empowerment hinges on the collaboration among government, entrepreneurs, and stakeholders, ensuring planning, implementation, and evaluation involve all parties. This approach fosters synergies and enhances program effectiveness. Involving entrepreneurs in decision-making tailors programs to actual business needs, while government should ensure entrepreneurs have access to necessary training and education. Orginality Value: This study introduces novel aspects by focusing on the batik and weaving SMEs in Indonesia's specific regions (Pekalongan, Yogyakarta, Sengkang), offering detailed insights into their unique challenges and potentials. It employs a comprehensive approach to business transformation, considering marketing, technology, entrepreneurship, and other performance-related factors, thus providing a wider view on industry development. Additionally, it emphasizes the government's role in fostering a supportive business ecosystem through community empowerment initiatives and highlights the significance of government support, training, education, and collaboration for industry advancement.

Jakarta’s Generation Z and Local Fashion Industry: Unveiling the Impact of Brand Image, Perceived Quality, and Country of Origin

The local fashion industry in Indonesia faces tough competition with imported brands, driven by shifting consumer preferences, particularly during the pandemic. The research examined the impact of country of origin on purchase intention in the casual fashion industry, with brand image and perceived quality as intervening factors. It involved 412 Indonesian Gen Z in Jakarta as respondents with prior experience in the local casual fashion market. Data were collected through online questionnaires, and the SEM-PLS analysis method with SmartPLS v3.2.9 software was used for analysis. Results show that country of origin significantly influences brand image and perceived quality, affecting purchase intention. The research aligns with prior consumer perceptions studies. The implications offer guidance for casual fashion industry marketers and retailers. Emphasizing a positive country of origin image and focusing on brand image and perceived quality can impact purchase decisions, particularly among Indonesian Gen Z consumers in Jakarta. Future research can also expand the scope to include a broader sample and employ qualitative methods for deeper consumer insights. In conclusion, the research enhances understanding of consumer behavior in the casual fashion industry by revealing the role of country of origin, brand image, and perceived quality in shaping purchase intentions. Businesses can utilize these insights to refine their marketing strategies and better cater to their target consumers’ preferences.

ЭВОЛЮЦИЯ ТОРГОВЫХ ЦЕНТРОВ И ПЕРСПЕКТИВЫ РАЗВИТИЯ

The article studies the development of shopping centers from marketplaces to the mall formats of the future. The author notes that trade as a phenomenon has existed since ancient times, over time the formats of shopping places have experienced significant changes, from small markets to complex shopping centers, adapting to changes in society and technology. The historical development of shopping centers is described, from the agoras of ancient Greece to modern shopping complexes, whose emergence was triggered by the industrial revolution and the development of automobile transportation. 
 The article also discusses the impact of internet shopping and the pandemic on classic shopping centers, highlighting the shift in consumer preferences towards online shopping and the need for shopping centers to adapt to the new conditions. The author offers reflections on the future of shopping centers, their potential evolution into socio-cultural and entertainment spaces capable of offering visitors a unique experience not available with online shopping. The analysis emphasizes the importance of innovation and flexibility in mall management for malls to continue to thrive in a changing world.

Business Model Innovation as a Structural Framework for Business Sustainability Growth: A Systematic Review

Business model serves as an essential structural foundation for companies amid the constant upheavals of the modern business world, guiding them through the intricacies of markets, competition, and shifting consumer preferences. A total of 213 papers published between 2010 and 2023 were examined from WOS and Scopus database as part of a comprehensive review of business model and business model innovation. The goal of this review study is to explore the methods of business model innovation, the impact of technology on the creation of novel models for business growth, and the development of business models in the context of global phenomena such as pandemics and climate change. In addition, the significant impact of customer expectations, ethical issues, and sustainability requirements on the dynamics of business model development are considered. These components enable companies to actively reshape its models and to take advantage of new opportunities and mitigate threats. This research provides companies and researchers alike with the knowledge and gaps they need to address the challenges and seize the opportunities that arise from the dynamic nature of contemporary business models by real-world case studies, providing practical strategies, and keeping a keen focus on emerging trends.