Social consumerism

Last updated

Social Consumerism [1] occurs when the consumer's needs are met, the business achieves profitability and a social issue is positively affected. This is very different than traditional business models where only the first two objectives are achieved.

The value of social consumerism is that it takes the responsibility of the charitable donation away from the consumer and ties the philanthropic action to what consumers do naturally (e.g. eat out and part of the tab goes to a food charity.)

As many as 92% of moms and 88% of millennials want to buy from organizations that support a good cause. [2]

Related Research Articles

<span class="mw-page-title-main">Advertising</span> Form of communication for marketing, typically paid for

Advertising is the practice and techniques employed to bring attention to a product or service. Advertising aims to put a product or service in the spotlight in hopes of drawing it attention from consumers. It is typically used to promote a specific good or service, but there are wide range of uses, the most common being the commercial advertisement.

<span class="mw-page-title-main">Graphic design</span> Interdisciplinary branch of design and of the fine arts

Graphic design is a profession, academic discipline and applied art whose activity consists in projecting visual communications intended to transmit specific messages to social groups, with specific objectives. Graphic design is an interdisciplinary branch of design and of the fine arts. Its practice involves creativity, innovation and lateral thinking using manual or digital tools, where it is usual to use text and graphics to communicate visually.

<span class="mw-page-title-main">Marketing</span> Study and process of exploring, creating, and delivering value to customers

Marketing is the process of identifying customers and "creating, communicating, delivering, and exchanging" goods and services for the satisfaction and retention of those customers. It is one of the primary components of business management and commerce.

Marketing communications refers to the use of different marketing channels and tools in combination. Marketing communication channels focus on how businesses communicate a message to its desired market, or the market in general. It is also in charge of the internal communications of the organization. Marketing communication tools include advertising, personal selling, direct marketing, sponsorship, communication, public relations, social media, customer journey and promotion.

<span class="mw-page-title-main">Advertising campaign</span> Advertisements based on a theme

An advertising campaign is a series of advertisement messages that share a single idea and theme which make up an integrated marketing communication (IMC). An IMC is a platform in which a group of people can group their ideas, beliefs, and concepts into one large media base. Advertising campaigns utilize diverse media channels over a particular time frame and target identified audiences.

Celebrity branding or celebrity endorsement is a form of advertising campaign or marketing strategy which uses a celebrity's fame or social status to promote a product, brand or service, or to raise awareness about an issue. Marketers use celebrity endorsers in hopes that the positive image of the celebrity endorser will be passed on to the product's or brand's image. Non-profit organizations also use celebrities since a celebrity's frequent mass media coverage reaches a wider audience, thus making celebrities an effective ingredient in fundraising.

<span class="mw-page-title-main">User-generated content</span> Online content created by users

User-generated content (UGC), alternatively known as user-created content (UCC), is generally any form of content, such as images, videos, text, testimonials, and audio, that has been posted by users on online content aggregation platforms such as social media, discussion forums and wikis. It is a product consumers create to disseminate information about online products or the firms that market them.

A target audience is the intended audience or readership of a publication, advertisement, or other message catered specifically to said intended audience. In marketing and advertising, it is a particular group of consumer within the predetermined target market, identified as the targets or recipients for a particular advertisement or message. Businesses that have a wide target market will focus on a specific target audience for certain messages to send, such as The Body Shops Mother's Day advertisements, which were aimed at the children and spouses of women, rather than the whole market which would have included the women themselves. A target audience is formed from the same factors as a target market, but it is more specific, and is susceptible to influence from other factors. An example of this was the marketing of the USDA's food guide, which was intended to appeal to young people between the ages of 2 and 18.

Marketing effectiveness is the measure of how effective a given marketer's go to market strategy is toward meeting the goal of maximizing their spending to achieve positive results in both the short- and long-term. It is also related to marketing ROI and return on marketing investment (ROMI).

Advertising research is a systematic process of marketing research conducted to improve the efficiency of advertising. Advertising research is a detailed study conducted to know how customers respond to a particular ad or advertising campaign.

<span class="mw-page-title-main">Digital marketing</span> Marketing of products or services using digital technologies or digital tools

Digital marketing is the component of marketing that uses the Internet and online-based digital technologies such as desktop computers, mobile phones, and other digital media and platforms to promote products and services. Its development during the 1990s and 2000s changed the way brands and businesses use technology for marketing. As digital platforms became increasingly incorporated into marketing plans and everyday life, and as people increasingly used digital devices instead of visiting physical shops, digital marketing campaigns have become prevalent, employing combinations of search engine optimization (SEO), search engine marketing (SEM), content marketing, influencer marketing, content automation, campaign marketing, data-driven marketing, e-commerce marketing, social media marketing, social media optimization, e-mail direct marketing, display advertising, e-books, and optical disks and games have become commonplace. Digital marketing extends to non-Internet channels that provide digital media, such as television, mobile phones, callbacks, and on-hold mobile ringtones. The extension to non-Internet channels differentiates digital marketing from online marketing.

Brand awareness is the extent to which customers are able to recall or recognize a brand under different conditions. Brand awareness is one of two dimensions from brand knowledge, an associative network memory model. Brand awareness is a key consideration in consumer behavior, advertising management, and brand management. The consumer's ability to recognize or recall a brand is central to purchasing decision-making. Purchasing cannot proceed unless a consumer is first aware of a product category and a brand within that category. Awareness does not necessarily mean that the consumer must be able to recall a specific brand name, but they must be able to recall enough distinguishing features for purchasing to proceed. Creating brand awareness is the main step in advertising a new product or bringing back the older brand in light.

<span class="mw-page-title-main">Content marketing</span> Form of marketing focused on creating content for a targeted audience online

Content marketing is a form of marketing focused on creating, publishing, and distributing content for a targeted audience online. It is often used by businesses in order to achieve the following goals: attract attention and generate leads, expand their customer base, generate or increase online sales, increase brand awareness or credibility, and engage an online community of users. Content marketing attracts new customers by creating and sharing valuable free content. It helps companies create sustainable brand loyalty, provides valuable information to consumers, and creates a willingness to purchase products from the company in the future.

<span class="mw-page-title-main">Social media marketing</span> Promotion of producs or services on social media

Social media marketing is the use of social media platforms and websites to promote a product or service. Although the terms e-marketing and digital marketing are still dominant in academia, social media marketing is becoming more popular for both practitioners and researchers. Most social media platforms have built-in data analytics tools, enabling companies to track the progress, success, and engagement of ad campaigns. Companies address a range of stakeholders through social media marketing, including current and potential customers, current and potential employees, journalists, bloggers, and the general public. On a strategic level, social media marketing includes the management of a marketing campaign, governance, setting the scope and the establishment of a firm's desired social media "culture" and "tone."

Virtual engagement is a metric to determine the level of affinity between a company and its customers.

Social media in the fashion industry refers to the use of social media platforms by fashion designers and users to promote and participate in trends. Over the past several decades, the development of social media has increased along with its usage by consumers. The COVID-19 pandemic was a sharp turn of reliance on the virtual sphere for the industry and consumers alike. Social media has created new channels of advertising for fashion houses to reach their target markets. Since its surge in 2009, luxury fashion brands have used social media to build interactions between the brand and its customers to increase awareness and engagement. The emergence of influencers on social media has created a new way of advertising and maintaining customer relationships in the fashion industry. Numerous social media platforms are used to promote fashion trends, with Instagram and TikTok being the most popular among Generation Y and Z. The overall impact of social media in the fashion industry included the creation of online communities, direct communication between industry leaders and consumers, and criticized ideals that are promoted by the industry through social media.

Simon Mainwaring is a branding expert and author of We First: How Brands and Consumers Use Social Media to Build a Better World and Lead With We: The Business Revolution that Will Save Our Future. He is the founder and CEO of Culver City, California-based We First Inc., a brand consultancy.

<span class="mw-page-title-main">Tina Sharkey</span> American entrepreneur, advisor, and investor

Tina Sharkey is an American entrepreneur, advisor, and investor. Noted for "discovering ways to bring consumers and businesses together," she co-founded Brandless and iVillage; served as chair and global president of BabyCenter; led multiple business units at AOL, and served as president of the Sesame Street Digital Group. She is a member of the PBS Board of Directors.

<span class="mw-page-title-main">Leomie Anderson</span> British model and designer (born 1993)

Leomie Jasmin Francis Anderson is a British fashion model, television presenter, and activist. She has walked in four consecutive Victoria's Secret Fashion Shows from 2015 to 2018, and became a Victoria's Secret Angel in 2019. Anderson was included in a 2020 Forbes '30 Under 30' list for the art & culture category.

Kelly Goldsmith is an American marketing researcher who specializes in consumer behavior and a former reality television contestant. She is currently the E. Bronson Ingram Chair and Professor of marketing at the Owen Graduate School of Management at Vanderbilt University.

References

  1. Andre, Angel (January 16, 2014). "How social consumerism can change the world | Andre Angel | TEDxPlano". How social consumerism can change the world | Andre Angel | TEDxPlano. TEDx. Retrieved January 16, 2014.
  2. "5 Brands that understand Moms. | Big Fuel | Social Media Creative | Social Media Strategy | Creative Agency | Social Media Marketing and Branded Content". bigfuel.com. Retrieved 2015-08-31.