Communication strategies for circular economic products
Promoting may be seen as both an impression of and sway on human culture, through the dynamic arrangement of business segments by associations using the standard displaying mix of significant worth, spot, headway and thing (the ‘4Ps’) to vivify thought, interest, need and action. Advancing is the correspondence of one to many (as specific from arrangements, which is composed), and a market-arranged firm is one, which sorts out promote information and a strong customer focus.
Brands and publicizing are critical to the field of promoting, and brands address unimaginable courses of suggesting that add to customers’ thoughts of self. Wisdom, reputation and picture are the substance of a brand, and it has been exhibited that publicizing that exploits emotive concerns is more powerful than essentially obvious structures especially where the brand’s image is of specific essentialness to the customer (e.g., with pieces of clothing. Publicizing is proposed to both enlighten and impact, and productive advancing can control people’s needs and points in order to make prerequisites for items with which they were at that point new or not enthused about procuring.
With the improvement of the web, an association’s promoting point of confinement and lifestyle as observed by its buyers is, as it were, created through its website, with components, for instance, visual interest, accommodation, instinct, trust and vitality getting the opportunity to be fundamental in changing over repetitive customers on the web. The challenges of contender detachment and nonattendance of individual contact or effect over customer zone are dynamically troublesome in online circumstances, however then the web has been described as an indispensable resource for retailers: web crawlers select required information, locales can be occasionally revived and got to from different contraptions in various regions and time zones, and Web 2.
0 has enabled new components of customer participation and joint exertion.
Suggestion of which communication strategies can address which consumer concerns in a circular economy.
The project about elaborating the customer perceptions about the goods and products of circular economic model studies the circular economic practices by which the lifestyle fashion industry builds industry resilience. This had been elaborated as the genies of the functionality of the industry and establishes literature about the concept.
Secondly, this study also elaborates of gap identified in the previous studies having little explanation about the methods used in building trust by creating value for end customers as a critical tool elaborating about the promotional strategy in the marketing mix. This study also substantiates the impact of the various marketing efforts effecting the perception and attitude of consumers to recycled or remanufactured products produced by organizations operating under the circular economic business model. Lastly, this study also elaborates on the methods used by lifestyle fashion brands in building relevant brand position by the tools of generating customers awareness generation and education, consumer perception of CE sourced products.
Research Methodology
For the research a total of 200 respondents attempted a self-administered questionnaires that was distributed evenly, by using online questionnaire, among the respondents living in New Delhi and NCR (National Capital Region). A total of 157 online filled questionnaires were returned for further analysis. The data obtained was drawn at non-random method facilitating analysis. The respondents were chosen due to convenience and time constrains of the study to be conducted.
The questionnaire consisted of two sections. Section A of the questionnaire was on respondents’ demographic profile such as gender, age, education, income level and occupation. Section B of the questionnaire comprised of a total of ten questions measured on the knowledge about the circular economy and the customer perception for buying lifestyle fashion products that were developed by brands using circular economic business practices. The information collected for the initial questions were based primarily on a three and five point Likert scale measuring the purchase and degree of association customers perceive while using and buying products manufactured by using remanufactured and recycled textiles and products.
Descriptive statistics, correlation and regression analysis have been conducted to analyze the data.
Descriptive statistics & correlation analysis
Descriptive statistics was used to measure the Indian consumers perception of the new and infant concept of circular economy and its fashion products. The knowledge about the circular economy, environmental concern and ecological behavior was tested using the statistical tools. Correlations of the variables are significant with the products produced and the perception of the consumers.
Regression analysis
Only one regression model have been run for this study. The model would shows the impact of awareness about circular economy and the products would influence the customers perception and attitude about the product itself and consumers’ environmental concern on the consumers’ ecological behavior.
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