The impact of influencers on the decision-making process regarding the purchase of the brand product
Abstract
Purpose – the aim of this paper is to study the impact of influencers on the decisionmaking process regarding the purchase of the brand product.
Research methodology – the method of collecting data through a questionnaire and the contingency analysis to process the data were chosen for this research.
Findings – the research revealed quite a degree of distrust of Slovak consumers in influencer marketing. This may be partly explained by the singularity of Slovaks and partly by the limitations of research.
Research limitations – the limitation of research may be the fact that it is not possible to draw clear conclusions solely from the perspective of consumers because their actual view may differ from reality. To remove limitations of this kind it is advisable to repeat the questioning on another sample of respondents.
Practical implications – the results are anticipated to enhance and deepen the understanding of previous practice of brand managers. The findings should be beneficial for improving the attractiveness of marketing communication and thus higher competitiveness.
Originality/Value – the research population has been surveyed not only on flat-rate basis because the segments vary significantly in their perception of influencers’ impact.
Keyword : influencer marketing, brand product, marketing research
How to Cite
Gajanova, L., Majerova, J., & Nadanyiova, M. (2020). The impact of influencers on the decision-making process regarding the purchase of the brand product. Business, Management and Economics Engineering, 18(2), 282-293. https://doi.org/10.3846/bme.2020.12608
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Defy Media. (2015). Acumen report: Constant content. Retrieved April 29, 2020, from https://www.yumpu.com/en/document/read/47371921/acumen-constant-content-execsum-booklet-final2
Diaz-Sarmiento, C., Lopez-Lambrano, M., & Roncallo-Lafont, L. (2017). Understanding generations: a review of the concept, classification and distinctives traits among baby boomers, generation X and millennials. Clio America, 11(22), 188–204. https://doi.org/10.21676/23897848.2440
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Kicova, E., Bartosova, V., & Popp, J. (2020). The impact of TV advertising on brand credibility. In N. Tsounis & A. Vlachvei (Eds.), Advances in cross-section data methods in applied economic research (pp. 605–614). Springer. https://doi.org/10.1007/978-3-030-38253-7_39
Kicova, E., Kral, P., & Janoskova, K. (2018). Proposal for brands communication strategy developed on customer segmentation based on psychological factors and decision-making speed in purchasing: Case of the automotive industry. Economics and Culture, 15(1), 5–14. https://doi.org/10.2478/jec-2018-0001
Kirkpatrick, D. (2016a). Twitter says influencers are almost as trusted as friends. Retrieved April 29, 2020, from https://www.marketingdive.com/news/twitter-says-influencers-are-almost-as-trustedas-friends/419076/
Kirkpatrick, D. (2016b). Influencer marketing spurs 11 times the ROI over traditional tactics: Study. Retrieved April 29, 2020, from https://www.marketingdive.com/news/influencer-marketing-spurs11-times-the-roi-over-traditional-tactics-study/416911/
Kliestikova, J., & Janoskova, K. (2017). Branding with understanding: how national profile of consumer influences brand value perception. Marketing and Management of Innovations, 3, 149–157. https://doi.org/10.21272/mmi.2017.3-14
Kotler, P., & Armstrong, G. (2004). Marketing. Grada Publishing.
Kozel, R. (2006). Moderní marketingový výzkum. Grada Publishing.
Kral, P., & Janoskova, K. (2019). Consumer perception of global branded products quality. In T. Kliestik (Ed.), Sustainability in the global-knowledge economy (pp. 1–8). EDP Sciences. https://doi.org/10.1051/shsconf/20207401018
Krasniak, M. (2016). Social influencer marketing on the rise: New research. Retrieved April 29, 2020, from https://www.socialmediaexaminer.com/social-influencer-marketing-on-the-rise-new-research/
Levin, A. (2019). Influencer marketing for brands: What YouTube and Instagram can teach you about the future of digital advertising. Apress. https://doi.org/10.1007/978-1-4842-5503-2
Lichtarski, J., & Trenkner, M. (2018). On the co-existence of innovation and creativity in the Lean Management environment. Forum Scientiae Oeconomia, 6(3), 67–81. https://doi.org/10.23762/FSO_VOL6_NO3_5
Lizbetinova, L., Starchon, P., Lorincova, S., Weberova, D., & Prusa, P. (2019). Application of cluster analysis in marketing communications in small and medium-sized enterprises: An empirical study in the Slovak Republic. Sustainability, 11(8), 2302. https://doi.org/10.3390/su11082302
McCrindle, M., & Wolfinger, E. (2010). The ABC of XYZ: Understanding the global generations. University of New South Wales Press.
Michman, R. D., Mazze, E. M., & Greco, A. J. (2003). Lifestyle marketing: Reaching the New American Consumer. Praeger.
Moravcikova, D., & Kicova, E. (2018). Brand as a strategic marketing tool of a company in conditions of globalization. In T. Kliestik (Ed.), Globalization and its socio-economic consequences (pp. 755–762). University of Zilina.
Moravcikova, D., Krizanova, A., Kliestikova, J., Rypakova, M. (2017). Green marketing as the source of the competitive advantage of the business. Sustainability, 9(12), 2218. https://doi.org/10.3390/su9122218
Morning Consult. (2019). The influencer report. Engaging Gen Z And Millennials. Retrieved April 29, 2020, from https://morningconsult.com/form/influencer-report-engaging-gen-z-and-millennials-download/
Nielsen. (2015). Global trust in advertising. Retrieved April 29, 2020, from https://www.nielsen.com/wp-content/uploads/sites/3/2019/04/global-trust-in-advertising-report-sept-2015-1.pdf
Nielsen Admosphere Slovakia. (2018). Influencerov sledujú Slováci hlavne na Facebooku. Najčastejšie len zo zvedavosti alebo kvôli pekným fotkám. Retrieved April 29, 2020, from https://www.nielsen-admosphere.sk/press/influencerov-sleduju-slovaci-hlavne-na-facebooku-najcastejsie-len-zo-zvedavosti-alebo-kvoli-peknym-fotkam/
Noble, S. M., & Schewe, C. D. (2003). Cohort segmentation: An exploration of its validity. Journal of Business Research, 56(12), 979–987. https://doi.org/10.1016/S0148-2963(02)00268-0
Odabasi, K. (2019). Digital marketing strategies: Ultimate guide to SEO, Google ads, Facebook & Instagram ads, social media, email newsletters. Independently published.
Oppenheim, M. (2016). New data reveals people trust social media influencers almost as much as their own friends. Retrieved April 29, 2020, from https://www.independent.co.uk/news/people/new-datareveals-people-trust-social-media-influencers-almost-as-much-as-their-own-friends-a7026941.html
Palus, M., Matova, H., Krizanova, A., & Parobek, J. (2014). A survey of awareness of forest certification schemes labels on wood and paper products. Acta Facultatis Xylologiae Zvolen, 56(1), 129–138.
Potter, W. J. (2018). Media literacy. SAGE Publications, Inc.
Reeves, T. C., & Oh, E. (2008). Generation differences. In J. M. Spector, D. Merrill, J. van Merrienboer & M. Driscolle (Eds.), Handbook of research on educational communications and technology (pp. 295–303). Taylor & Francis Group.
Reicher, R. Z. (2018). Hungarian millennials’ attitudes on being online. Forum Scientiae Oeconomia, 6(1), 5–18. http://doi.org/10.23762/FSO
Rentz, J. O., & Reynolds, F. D. (1991). Forecasting the effects of an aging pouplation on product consumption – an age-period-cohort framework. Journal of Marketing Research, 28(3), 355–360. https://doi.org/10.1177/002224379102800310
Rodgers, S., & Thorson, E. (2017). Digital advertising: Theory and research. Routledge. https://doi.org/10.4324/9781315623252
Sammis, K., Lincoln, C., & Pomponi, S. (2016). Influencer marketing for dummies. John Wiley & Sons, Inc.
Schewe, C. D., & Meredith, H. G. (2004). Segmenting global markets by generational cohorts: Determining motivations by age. Journal of Consumer Behaviour, 4(1), 51–63. https://doi.org/10.1002/cb.157
Sima, C. (2016). Generations BB, X, Y, Z, alpha – the changing consumer in the hospitality industry. In M. Ivanova, S. Ivanov, & V. P. Magnini. Routledge handbook of hotel chain management (pp. 471–479). Routledge.
Sroka, W., Cygler, J., & Gajdzik, B. (2014). Knowledge transfer in networks – the case of steel enteprises in Poland. Metalurgija, 53(1), 101–104.
Smith, J. W., & Clurman, A. S. (1997). Rocking the ages: The Yankelovich report on generational marketing. HarperCollins e-books.
Valaskova, M., & Kriazanova, A. (2008). The passenger satisfaction survey in the regional integrated public transport system. Promet-Traffic & Transportation, 20(6), 401–404.
Wong, K. (2014). The explosive growth of influencer marketing and what it means for you. Retrieved April 29, 2020, from https://www.forbes.com/sites/kylewong/2014/09/10/the-explosive-growth-of-influencer-marketing-and-what-it-means-for-you/#1dc86ec952ac
Woods, S. (2016). #Sponsored: The emergence of influencer marketing. Retrieved April 29, 2020, from https://trace.tennessee.edu/cgi/viewcontent.cgi?article=3010&context=utk_chanhonoproj
Burstein, D. (2017). Marketing chart: Which advertising channels consumers trust most and least when making purchases. Retrieved April 29, 2020, from https://www.marketingsherpa.com/article/chart/channels-customers-trust-most-when-purchasing
Chakraborty, T., & Balakrishnan, J. (2017). Exploratory tendencies in consumer behaviour in online buying across gen X, gen Y and baby boomers. International Journal of Value Chain, 8(2), 135–150. https://doi.org/10.1504/IJVCM.2017.10006412
Content Agency. (2020). Pohľad späť: influencer marketing v roku 2019 na Slovensku. Retrieved May 04, 2020, from https://contentagency.sk/pohlad-spat-influencer-marketing-v-roku-2019-na-slovensku/
Dalgleish, D. (2007). Beginning pivot tables in excel 2007. Apress.
Dalgleish, D. (2008). Excel 2007 pivot tables recipes: A problem-solution approach. Apress. https://doi.org/10.1007/978-1-4302-0504-3
DeAlmeida, G. T., Ituassu, C. T., & Moura, L. R. C. (2016). The meaning of consumption for members of generations X, Y and Z. Revista ciencias administrativas, 22(2), 605–636. https://doi.org/10.5020/2318-0722.22.2.605-636
Defy Media. (2015). Acumen report: Constant content. Retrieved April 29, 2020, from https://www.yumpu.com/en/document/read/47371921/acumen-constant-content-execsum-booklet-final2
Diaz-Sarmiento, C., Lopez-Lambrano, M., & Roncallo-Lafont, L. (2017). Understanding generations: a review of the concept, classification and distinctives traits among baby boomers, generation X and millennials. Clio America, 11(22), 188–204. https://doi.org/10.21676/23897848.2440
Donovan, S. (2020). Changing the game: Influencer marketing for generation Z. Retrieved April 29, 2020, from https://influencermarketinghub.com/influencer-marketing-for-generation-z/
Forrester, J. (2019). Whalar unveils ‘world’s first’ neuroscience influencer study. https://talkinginfluence.com/2019/06/18/whalar-unveils-worlds-first-neuroscience-influencer-study/
Garcia, D. (2017). Social media mavens wield ‘influence,’ and rake in big dollars. Retrieved April 29, 2020, from https://www.cnbc.com/2017/08/11/social-media-influencers-rake-in-cash-become-a-billion-dollar-market.html
Hendl, J., & Remr, J. (2017). Metody výzkumu a evaluace. Portál.
Herhold, K. (2017). How consumers view advertising: 2017 survey. Retrieved April 29, 2020, from https://clutch.co/agencies/resources/how-consumers-view-advertising-survey-2017
Influencer Marketing Hub. (2020). Influencer marketing benchmark report: 2020. Retrieved April 29, 2020, from https://influencermarketinghub.com/Influencer_Marketing_Benchmark_Report_2020.pdf
Kádeková, Z., & Holienčinová, M. (2018). Influencer marketing as a modern phenomenon creating a new frontier of virtual opportunities. Communication Today, 9(2), 90–105.
Kicova, E., Bartosova, V., & Popp, J. (2020). The impact of TV advertising on brand credibility. In N. Tsounis & A. Vlachvei (Eds.), Advances in cross-section data methods in applied economic research (pp. 605–614). Springer. https://doi.org/10.1007/978-3-030-38253-7_39
Kicova, E., Kral, P., & Janoskova, K. (2018). Proposal for brands communication strategy developed on customer segmentation based on psychological factors and decision-making speed in purchasing: Case of the automotive industry. Economics and Culture, 15(1), 5–14. https://doi.org/10.2478/jec-2018-0001
Kirkpatrick, D. (2016a). Twitter says influencers are almost as trusted as friends. Retrieved April 29, 2020, from https://www.marketingdive.com/news/twitter-says-influencers-are-almost-as-trustedas-friends/419076/
Kirkpatrick, D. (2016b). Influencer marketing spurs 11 times the ROI over traditional tactics: Study. Retrieved April 29, 2020, from https://www.marketingdive.com/news/influencer-marketing-spurs11-times-the-roi-over-traditional-tactics-study/416911/
Kliestikova, J., & Janoskova, K. (2017). Branding with understanding: how national profile of consumer influences brand value perception. Marketing and Management of Innovations, 3, 149–157. https://doi.org/10.21272/mmi.2017.3-14
Kotler, P., & Armstrong, G. (2004). Marketing. Grada Publishing.
Kozel, R. (2006). Moderní marketingový výzkum. Grada Publishing.
Kral, P., & Janoskova, K. (2019). Consumer perception of global branded products quality. In T. Kliestik (Ed.), Sustainability in the global-knowledge economy (pp. 1–8). EDP Sciences. https://doi.org/10.1051/shsconf/20207401018
Krasniak, M. (2016). Social influencer marketing on the rise: New research. Retrieved April 29, 2020, from https://www.socialmediaexaminer.com/social-influencer-marketing-on-the-rise-new-research/
Levin, A. (2019). Influencer marketing for brands: What YouTube and Instagram can teach you about the future of digital advertising. Apress. https://doi.org/10.1007/978-1-4842-5503-2
Lichtarski, J., & Trenkner, M. (2018). On the co-existence of innovation and creativity in the Lean Management environment. Forum Scientiae Oeconomia, 6(3), 67–81. https://doi.org/10.23762/FSO_VOL6_NO3_5
Lizbetinova, L., Starchon, P., Lorincova, S., Weberova, D., & Prusa, P. (2019). Application of cluster analysis in marketing communications in small and medium-sized enterprises: An empirical study in the Slovak Republic. Sustainability, 11(8), 2302. https://doi.org/10.3390/su11082302
McCrindle, M., & Wolfinger, E. (2010). The ABC of XYZ: Understanding the global generations. University of New South Wales Press.
Michman, R. D., Mazze, E. M., & Greco, A. J. (2003). Lifestyle marketing: Reaching the New American Consumer. Praeger.
Moravcikova, D., & Kicova, E. (2018). Brand as a strategic marketing tool of a company in conditions of globalization. In T. Kliestik (Ed.), Globalization and its socio-economic consequences (pp. 755–762). University of Zilina.
Moravcikova, D., Krizanova, A., Kliestikova, J., Rypakova, M. (2017). Green marketing as the source of the competitive advantage of the business. Sustainability, 9(12), 2218. https://doi.org/10.3390/su9122218
Morning Consult. (2019). The influencer report. Engaging Gen Z And Millennials. Retrieved April 29, 2020, from https://morningconsult.com/form/influencer-report-engaging-gen-z-and-millennials-download/
Nielsen. (2015). Global trust in advertising. Retrieved April 29, 2020, from https://www.nielsen.com/wp-content/uploads/sites/3/2019/04/global-trust-in-advertising-report-sept-2015-1.pdf
Nielsen Admosphere Slovakia. (2018). Influencerov sledujú Slováci hlavne na Facebooku. Najčastejšie len zo zvedavosti alebo kvôli pekným fotkám. Retrieved April 29, 2020, from https://www.nielsen-admosphere.sk/press/influencerov-sleduju-slovaci-hlavne-na-facebooku-najcastejsie-len-zo-zvedavosti-alebo-kvoli-peknym-fotkam/
Noble, S. M., & Schewe, C. D. (2003). Cohort segmentation: An exploration of its validity. Journal of Business Research, 56(12), 979–987. https://doi.org/10.1016/S0148-2963(02)00268-0
Odabasi, K. (2019). Digital marketing strategies: Ultimate guide to SEO, Google ads, Facebook & Instagram ads, social media, email newsletters. Independently published.
Oppenheim, M. (2016). New data reveals people trust social media influencers almost as much as their own friends. Retrieved April 29, 2020, from https://www.independent.co.uk/news/people/new-datareveals-people-trust-social-media-influencers-almost-as-much-as-their-own-friends-a7026941.html
Palus, M., Matova, H., Krizanova, A., & Parobek, J. (2014). A survey of awareness of forest certification schemes labels on wood and paper products. Acta Facultatis Xylologiae Zvolen, 56(1), 129–138.
Potter, W. J. (2018). Media literacy. SAGE Publications, Inc.
Reeves, T. C., & Oh, E. (2008). Generation differences. In J. M. Spector, D. Merrill, J. van Merrienboer & M. Driscolle (Eds.), Handbook of research on educational communications and technology (pp. 295–303). Taylor & Francis Group.
Reicher, R. Z. (2018). Hungarian millennials’ attitudes on being online. Forum Scientiae Oeconomia, 6(1), 5–18. http://doi.org/10.23762/FSO
Rentz, J. O., & Reynolds, F. D. (1991). Forecasting the effects of an aging pouplation on product consumption – an age-period-cohort framework. Journal of Marketing Research, 28(3), 355–360. https://doi.org/10.1177/002224379102800310
Rodgers, S., & Thorson, E. (2017). Digital advertising: Theory and research. Routledge. https://doi.org/10.4324/9781315623252
Sammis, K., Lincoln, C., & Pomponi, S. (2016). Influencer marketing for dummies. John Wiley & Sons, Inc.
Schewe, C. D., & Meredith, H. G. (2004). Segmenting global markets by generational cohorts: Determining motivations by age. Journal of Consumer Behaviour, 4(1), 51–63. https://doi.org/10.1002/cb.157
Sima, C. (2016). Generations BB, X, Y, Z, alpha – the changing consumer in the hospitality industry. In M. Ivanova, S. Ivanov, & V. P. Magnini. Routledge handbook of hotel chain management (pp. 471–479). Routledge.
Sroka, W., Cygler, J., & Gajdzik, B. (2014). Knowledge transfer in networks – the case of steel enteprises in Poland. Metalurgija, 53(1), 101–104.
Smith, J. W., & Clurman, A. S. (1997). Rocking the ages: The Yankelovich report on generational marketing. HarperCollins e-books.
Valaskova, M., & Kriazanova, A. (2008). The passenger satisfaction survey in the regional integrated public transport system. Promet-Traffic & Transportation, 20(6), 401–404.
Wong, K. (2014). The explosive growth of influencer marketing and what it means for you. Retrieved April 29, 2020, from https://www.forbes.com/sites/kylewong/2014/09/10/the-explosive-growth-of-influencer-marketing-and-what-it-means-for-you/#1dc86ec952ac
Woods, S. (2016). #Sponsored: The emergence of influencer marketing. Retrieved April 29, 2020, from https://trace.tennessee.edu/cgi/viewcontent.cgi?article=3010&context=utk_chanhonoproj