Advances in Economics, Management and Political Sciences
- The Open Access Proceedings Series for Conferences
Proceedings of the 2023 International Conference on Management Research and Economic Development
Series Vol. 26 , 13 September 2023
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Based on Consumer Psychology Analyzing Caitang’s Innovative Marketing Strategy
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Abstract
As industry 4.0 evolves, how to acquire customers from the high-tech sector has become one of the top difficulties for incumbent firms. Previous research indicates that consumer psychology is important in establishing innovative marketing strategies. However, most existing research is still focused on a theoretical framework built around production, pricing, distribution, promotion, and other marketing factors but ignores systematic consumer influence. Therefore, this research conducts a case study analysis on the Chinese domestic cosmetic brand Caitang to research innovative marketing strategies based on consumer psychology. The author points to the relevancy and important role that (1) personal relevancy, ingroup perception and national pride, (2) para-social interaction, (3) high cognition and trust play in influencing consumer purchasing behavior. The author then explains the principles and effectiveness of using these three marketing strategies. Domestic firms receive insights if they plan to innovate companies’ promotion strategy. The author recommends adopting personally relevant advertisements, interactive opportunities, and signature products in promoting purchasing intention.
Keywords
marketing strategy, consumer psychology, domestic firms.
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2023 International Conference on Management Research and Economic Development
- ISBN (Print)
- 978-1-915371-95-9
- ISBN (Online)
- 978-1-915371-96-6
- Published Date
- 13 September 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/26/20230596
- Copyright
- © 2023 The Author(s)
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited