Marketing Strategy and Building Brand Value on the Hungarian Market

Research background: The progress of business activity depends on current trends in customer shopping behavior in a global environment. The current trend is also becoming a factor of irrationality, which enters the process of purchasing behavior. It is supported by the emotions and desires of consumers. In this sense, it is important to understand the irrational behavior of customers and respect the individual behavioral characteristics in the sales process. By respecting these characteristics, a company can strengthen its brand and marketing strategy with a view to gaining a global competitive advantage. Research will highlight the importance of irrational customer behaviour between the global Lindt and Hershey brands. We will find out whether the pricing policy and the discount are important for influencing shopping behaviour. Purpose of the article: In the article, we pointed out the importance of behavioral characteristics of irrational shopping behaviour in the above-mentioned global brands. We will confirm whether the research of Dr. Ariely and despite the current trends, irrationality prevails in shopping behaviour in the environment of Slovak customers. Methods: In order to assess the theoretical assumptions of behavioral economics and irrational shopping behavior, we used methods of analysis, synthesis. In the analytical part of the article, we also used the method of sociological questioning in order to ensure the credibility of the entire research. In the discussion part of the article, we used the method of induction. Findings & Value added: Pointing out the importance and connection of irrational purchasing behavior in the application of the company’s marketing strategy in a global market environment.

Section: Discussionsupporting

confidence: 85%

The Importance of Irrational Purchasing Behaviour in Applying the Marketing Strategy of Selected Global Brands

Vrtaňa

2021

“…Its task is to identify the product of a seller and distinguish it from the products of the competition [5]. Brand building [12] affects many aspects that contribute to the success of products or services in the market [13]. An important tool of product policy is also the decision on product packaging.…”

Section: Product Policymentioning

confidence: 99%

Tools of product policy as part of business marketing in the conditions of globalization

Olexova

Chlebíková

2021

Research background: Marketing is one of the key process for a successful business, because it deals with gaining and retaining customers, without whom the business would not make sense. Effective marketing benefits not only the company, but also the customer, because it helps to find the product that customer needs at the right time, in the right place and at an acceptable price. The product is one of the basic tools of the marketing mix and it is anything that can company offer in the market to meet the needs. In relation to the product and the overall product policy of the company, the company and its management must make a lot of decisions. Globalization has had a significant impact on the company’s product policy as well as on the company’s overall activities in recent years. It is a process as a result of which markets and production in different countries become increasingly interdependent due to the dynamics of trade in goods, services and the mobility of capital and technology. Purpose of the article: The purpose of the paper is to point out the theoretical basis of product policy with emphasis on product policy tools. The paper also covers the impact of globalization on business marketing with an emphasis on product policy. Methods: Method of analysis, synthesis, comparison, induction and deduction. Findings & Value added: Literature research in the field of product policy and new knowledge in the field of product policy with emphasis on the impact of globalization.

“…The positive effect of gamification in marketing has been confirmed by many scientists and practitioners [6][7][8][9][10][11][12]. This can be explained by the fact that companies are able to achieve a competitive advantage using innovation and knowledge about users in a progressive form of marketing communication [13][14][15][16][17].…”

Section: Introductionmentioning

confidence: 96%

Self-determination Theory as Mediator in the Nexus of Gamification and Customer Purchasing Behaviour

Gajanova

Radišić

2021

Gamification in marketing can be understood as the use of game mechanisms to motivate customers and encourage them to behave in a specific way and interact in some activities or communities in order to increase their satisfaction, loyalty and commitment, thereby contributing to brand building. There are many foreign works confirming the benefits of gamification. However, there is an absence of any known studies explicitly conducted into gamification within a marketing context in the Slovak Republic. This paper therefore attempts to address this kind of research gap and answer the question of whether gamification is a more effective form of promotion for improving the purchasing behaviour of customers in Slovakia. The results of the research confirm that gamification as part of sales promotion has a positive effect on the purchasing behaviour, search intentions and attitudes of Slovak customers. The results also indicate the positive mediation role of motivation based theory related to gamification and customer purchasing behaviour.