Marketing and the impact on consumers today

Tanvirmasud

With the first signs of an exit from the Covid-19 crisis, the first part of 2022 saw companies hoping for the re-establishment of economic and social balances at pre-pandemic levels. Today, Western companies are colliding with political-economic events of great importance; events that caught companies unprepared, also due to this same initial optimism. The impact on consumer habits and market trends cannot be ignored: faced with the need to react, the decision-making bodies of large organizations and, in particular, CIOs, CFOs and CMOs in different sectors are setting up counter-offensive strategies that seem to have a lot in common.


Confirmation Bias in Marketing and the India Telegram Number Data impact on consumers today When widespread optimism clashes with external negative events, it is easy to find reactions linked to a positive confirmation bias . This is the psychological reaction whereby we tend to select almost exclusively positive information, ignoring the objectivity of data and indicators relating to an assumption. In the report The Chief Marketing Officer, Third Quarter 2022, Gartner identified a confirmation bias that united managers and VP marketing throughout 2022, whereby predictions on the dynamics of economic recovery (especially for the sectors most affected by the pandemic) were in distorted parts. Specifically, the representative sample of large global companies stated that they had increased budget and resources for marketing operations.




Marketing 2022 Percentage of Revenue allocated to the Marketing budget from 2018 to this year. From: The Chief Marketing Officer, Third Quarter 2022, Gartner The lack of agile planning therefore saw an allocation of resources that had to clash with the current ones: -Inflation rates at 7.7% in the USA, 10.6% in Europe and 12.6% in Italy, with data updated between October and November 2022 ( Rateinflation ) -Interest rates on main refinancing operations, marginal lending facilities and deposits at the central bank increased to 2.00%, 2.25% and 1.50% respectively as of 2 November 2022 ( ECB ) -Negative consumer confidence rate, updated to November this year with a score of 90.1 in Italy, where the neutral value is 100 which.