Anda Batraga

The Influence of Sales Stimulation Methods on the Behaviour of Consumers While Making the Decision on Purchase of Products in the Latvian Market

The purpose of this research is the determination the extent of influence of various stimulation methods on the behaviour of consumers while making the decision on purchase of products in the Latvian market. In the course of the research approaches to development and realization of sales’ stimulation process were used which were described in scientific literature and the results of empirical researches that were made under the leadership of the authors. In the article the following research methods were used: abstract literature analysis, Latvian residents’ questionnaire (1320 respondents), and the correlation analysis. As a result the model for developing and realization of sales promotion process was made, the extent of influence of various stimulation methods on the behaviour of consumers while making the decision on purchase of products in the Latvian market was determined based on the correlation analysis. The results of the research let the authors to make conclusion and develop recommendations for producers and sellers of foodstuff for process of developing and realization of sales’ stimulation for these products in the Latvian market. The results of the research have as well as theoretical as practical meaning not only for Latvian market subjects, but also for foodstuff market subjects in other countries.

Consumers’ Behavior in Decision-Making in Foodstuff Purchasing Process

The purpose of this research is developing of model of market segmentation for food consumers, as well as determination the extent of influence of various factors influencing the behavior of the Latvian consumers while making the decision on purchase of these goods. In the course of the research approaches to market segmentation of food products consumers were used, as well as statistical data for Latvian food product market, described in literature, also the results of empirical researches. As a result the model of market segmentation for food consumers was developed, the extent of influence of various factors influencing the behavior of the Latvian consumers was determined based on the correlation analysis. The results of the research let the authors to make conclusion and develop recommendations for producers and sellers of food products for possible effective marketing impact on the Latvian food product consumers. The results of the research have as well as theoretical as practical meaning not only for Latvian market subjects, but also for food product market subjects in other countries.

New Innovation Identification Approach Development Matrix

Innovations have become one of the contemporary economics key driving forces behind competitive advantages and have become socioeconomic category of their own. Diffusion of innovations, which is an integral part of the scientific and technological base of national economies, promotes structural changes in economy. Companies have to pay close attention to market trends and have to be able to identify and create new innovations, thus increasing their competitiveness and meeting consumer demands and expectations. The objective of this research is to evaluate the concept of different innovations in organizations and propose a complex approach to identifying innovations in the form of a matrix that would aid in creating new and competitive innovations, based on the study of scientific literature and expert surveys results theoretical evaluation of different innovation approaches in organizations and the scientific and practical approaches to identifying innovative ideas at the initial stage of the innovation process.

Consumer behavior affecting factors leading to increased competitiveness during holiday season

A modern consumer nowadays has availability of enormous variety of products and services to choose from when making purchasing decision. This leads to high competition, and companies have to seek new ways and more effective communication measures to successfully influence decision making process of consumers, as well as be creative to forecast consumer behaviour and increase market competitiveness. This is one of the reasons why behavioural research tools are important parts of management decision process. By being able to precisely define expected consumer activities, it is possible to forecast sales amounts, revenue, turnover, and also predict company development potential, especially in periods when sales hit high levels, for example, during holiday season. Consumer behaviour and actions are influenced not only by products, perception of brand values and effectiveness of marketing communication, but also by cultural, social, individual and psychological factors. Analyses of cross-interactions of these aspects allows to reveal which purchasing behavioural model is the most dominating one when buying goods or services. The aim of this research is to determine the most influencing factors of consumers in Latvia during holiday season, as well as evaluating effectiveness behind various holiday marketing solutions, in order to make argumented marketing decisions to increase competiveness of a company. The research results allow to indicate factors which affect consumption habits, and, based on that, proposals of upgrading marketing solutions for festive periods are revealed, including recommendations for improving marketing communication, appropriate methods of goods and services differentiation, methods of consumer segmentation and other aspects which sharpen competitive edge of a company.

Identification of innovation ideas in its development process

After identifying the essence of the term innovation the authors of the paper strive to identify approaches to the innovations development process in companies, and systematize the first part of the innovation process – identification of information sources of innovation idea.

Advertising in Latvia

Latvia is one of the three Baltic States, and recovered its independence in 1991. The development of an advertising industry in Latvia started with the decay of the Soviet Union. The recovery of independence and the transition period to the market economy, as in all of the former USSR, required rapid development of the advertising industry. The birth and development of this field was inescapable, and was dictated by the competitive principles of the market economy. As with individual advertisements, the whole advertising market in Latvia is specific, and it is slowly developing its own character. Many foreign companies have entered the Latvian advertising market, each of them bringing its unique contribution. The same is true of local employers and their commercials.