Using literature survey and analysis, this study assessed consumption behavior changes induced by the COVID-19 pandemic and the possibility of retaining them after the pandemic. Financial uncertainty and loss of welfare sources triggered saving behaviors. Some people binged on media products offering anxiety-mitigating and therapeutic benefits. While such behaviors could decrease once the virus is eliminated and its stressors disappear, some routines could continue. Certain values affecting the nature and frequency of consumption could also change, thus increasing the speed of individual customers' habit formation. To make accurate long-term strategic decisions without suffering losses, the restaurant sector and other businesses must adjust to new operational conditions by analyzing changing revenues and possible lasting effects of changing consumer behavior.
In recent years, a new type of influencer has emerged in the field of social media marketing: virtual influencers. Though it is spreading fast, the trend is still new and, therefore, limited research has been conducted on the topic. This study aims to investigate the impact of virtual influencers on customers and whether there is a direct impact on human influencers due to the rise of virtual influencers in the industry. The study employed a questionnaire-based survey method to collect and analyse responses from a sample of 357 participants. The questions focus on trust, credibility, expertise, and contribution to purchase intention by the virtual influencers. The results indicate that customers are increasingly attracted to virtual influencers and that virtual influences are perceived as more trustworthy, credible, and relevant to customers’ preferences, leading to an increase in purchase intention. The study also discusses the implications of these findings for managers designing marketing campaigns.
The current study investigates and establishes the factors that lead to short-term orientation strategies in western organisations. Moreover, this study used questionnaire-based surveys to assess the relationship between these factors and what it would take for the organisation to move to a long-term orientation strategy. At the start of the study, it was evident that the annual bonus system is a key reason for prioritising a short-term orientation strategy. The sample was composed of 300 companies of different sizes from different western countries. Furthermore, the general consensus within these companies was that most managers knew that long-term orientation was necessary; however, either their superiors/shareholders/supervisory board only reward short-term results, or the managers and stakeholders prefer short-term goals for evaluations because it is challenging to transform a long-term strategy into multiple short-term strategies and goals. At the end of the study, a basic framework has been suggested to be used as guidelines for any company moving from short-term to long-term orientation strategies.
In the conditions of digitalization, which has penetrated all spheres of human life and society, artificial intelligence (AI) and ultra-precise neural networks influence our thinking and form consumer demand and loyalty. Modern AI applications cover all the essential areas of activity: education, manufacturing, marketing, management, law, medicine, and e-commerce. The study aims to build a methodology for analyzing the influence of public opinion in social networks, particularly micro and nano influencers, through AI and machine learning on the effectiveness of companies' marketing activities. The authors studied the stages of consumer interaction with marketing profits and highlighted the role of AI technologies in each of them. They showed that public opinion was the main driving force for effective sales of products on the Internet. Based on empirical data, a strong direct relationship was found between the number of influencers and the dynamics of marketing profit: it was revealed that the correlation coefficients between the marketing profit index and the number of micro and nano influencers were 0.86–0.99 in all surveyed companies implementing AI technologies, regardless of the market niche. Based on the expert method, the company's marketing system is investigated. An integral indicator of its effectiveness is introduced, consisting of sub-indices of analysis, diffusion and marketing information management. The authors considered the factors of profit from marketing activities of five companies actively implementing AI in brand promotion, including those using the leadership opinions of influencers. The applied value of the developed methodology is the possibility of using it to construct Internet marketing strategies by companies. By permanently monitoring the relationship between the marketing profit index and the degree of brand popularization in social networks, companies can manage sales at all stages of consumer communications, optimizing the costs of influencers promoting products on different social platforms. The prospects for further research are to study the relationship between the degree of interactivity of the influencer with the audience, the content posted by it with the conversion rate and sales volumes; grouping and identification of influencers based on the clustering method.
This opinion paper explores the negative consequences of short-termism in western corporations and the influence of short-term oriented political systems on the business world. It highlights the need for a paradigm shift towards long-term orientation and sustainable growth, focusing on four key areas: redesigning bonus systems, encouraging a culture of long-term thinking, fostering transparency and accountability, and engaging shareholders in long-term discussions. Through practical examples, the paper demonstrates how businesses can effectively implement these strategies to promote long-term value creation, ensuring their long-term success and contributing to a more sustainable and resilient global economy.
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