All articles by Avishek Majumder

Using Psychoanalytic theory and Pavlovian theory by online marketers

The Marshallian Economic was propounded by Alfred Marshall in order to propose the buying preferences of customers in the situation of product purchase (Biswas, 2012). Based on the gaps found in the Marshallian Economics, Psychoanalytic Theory and Pavlovian Theory of customer behaviour model were developed to fill them. The customers are given utmost preference in this economic model. Moreover, the model finds aggressive use in e-retailing services.

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Supply chain costs management models

Supply chain cost management is the task of controlling the operational cost in order to enhance the profit margin of a business. It involves all activities of logistics and supply chain such as stocking, distribution, processing, packaging, procurement, and handling (Silva, Gonçalves, & Leite, 2014). Supply chain cost management has become very crucial for businesses due to the intensifying market competition (Lai & Cheng, 2016).

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Quantitative and qualitative forecasting techniques in logistics management

Demand forecasting is defined as an approach used for analyzing future demand in comparison to the previous ones. The purpose of demand forecasting is to apply future planning and decision in the domain of finance, logistics, operation and sales. Companies use a qualitative method of forecasting to analyse and evaluate the opinion of experienced staff rather than focusing on numerical values (Dwyer, et al., 2012). These methods are used for predicting any short term or internal forecasting on the basis of summative feedback of departmental heads. On the other hand, quantitative forecasting technique deals with numerical data focus on projection of trends on the basis of historical figures of the business. This method of forecasting is consistent and useful for long term scenario planning of the company.

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The use of the Veblenian socio-psychological model for online marketing

Traditionally, consumer behaviour theories emerged from different psychological, anthropological and economic theories as marketers applied them to understand consumer wants. The Psychoanalytic theory classifies human psyche into three dimensions:

  1. Id,
  2. Ego, and
  3. Superego.
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A decision framework to mitigate the challenges of international logistics

International logistics requires many different options and requirements to be met in order for a business to operate internationally (Wood, 2012). International logistics is the design and management of a system that controls the flow of materials, through, and out of the international business unit. By taking a systems approach, the firm explicitly recognizes the linkages among the traditionally separate logistics components within and outside the corporation (David, 2003).

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Marketing strategies that influence consumer behaviour

As mentioned in previous articles, the Millennials or the Generation Y or digital natives are those born between 1982 and 1994 and technology is a part of their life (Glass, 2007). Whereas Generation Z was born into it, from 1995 to 2010. Marketers use different strategic marketing methods to target the two groups based on their characteristics and values.

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Influence of social media on the buying behaviour of Millennials

Social media marketing refers to the use of social media platforms for the purpose of sales promotion (Agrawal and Kaur, 2015; Duffett, 2017). This has completely changed the dynamics of the market by giving more power to the consumers. Moreover, social media-based marketing has also influenced the consumption habits and buying behaviour. It is providing consumers with a greater number of choices and giving them a scope to analyze and compare (Alves et al., 2016). While social media marketing strategies have been successful in influencing consumers of allied age groups and backgrounds, their influence is optimum upon the buying behaviour of Millennials. This is because they remain consistently updated about the latest information related to their preferred brands (Arora et al., 2018; Helal et al., 2018).

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Impact of social media on the buying behaviour of Generation Z

The phenomenal growth of social media has impacted almost every aspect of a young consumer’s life over the past two decades. Today, a significant number of youths spend a large amount of time on various social media platforms. Generation Z population has been surrounded by the internet for their entire lives (Greenfield, 2008). They use social media as a tool for receiving instant information. The term Generation Z refers to individuals born after the generation of the Millennials, who are born between 1995 and 2015 (Chen, 2017). They are expected to account for 40% of all consumers by the year 2020 (Finch, 2015). Moreover, a vast majority, i.e. 75% prefer to shop online rather than in-store, a trend that is set to grow in the near future (Sweeney, 2018).

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