"I Felt a Little Crazy Following a 'Doll'"

Virtual Influencers (VIs) are computer-generated characters, many of which are often visually indistinguishable from humans and interact with the world in the first-person perspective as social media influencers. They are gaining popularity by creating content in various areas, including fashion, music, art, sports, games, environmental sustainability, and mental health. Marketing firms and brands increasingly use them to capitalise on their millions of followers. Yet, little is known about what prompts people to engage with these digital beings. In this paper, we present our interview study with online users who followed different VIs on Instagram beyond the fashion application domain. Our findings show that the followers are attracted to VIs due to a unique mixture of visual appeal, sense of mystery, and creative storytelling that sets VI content apart from that of real human influencers. Specifically, VI content enables digital artists and content creators by removing the constraints of bodies and physical features. The followers not only perceived VIs' rising popularity in commercial industries, but also are supportive of VI involvement in non-commercial causes and campaigns. However, followers are reluctant to attribute trustworthiness to VIs in general though they display trust in limited domains, e.g., technology, music, games, and art. This research highlights VI's potential as innovative digital content, carrying influence and employing more varied creators, an appeal that could be harnessed by diverse industries and also by public interest organisations.

Environmental Perpetuity Cost and Earning Yields of Oil and Gas Marketing Firms: Nigeria’s experience

The study examined the environmental perpetuity cost and earning yields of oil and gas marketing firms: Nigeria’s experience. Its main objective was: to specifically examine the extent to which environmental perpetuity costs influence earning yields of oil and gas marketing firms taking evidence from Nigeria. To achieve the objective, an ex-post facto design was employed and relevant data were obtained from secondary source. Multiple regression analytical tool was used to analyse the data in order to verify the hypotheses formulated for the study. The findings indicated that donations as a perpetuity cost positively influences earning yield though the influence is not a very strong one; support/social cost to destitute and less privileged significantly affect earnings per share; support to motherless babies’ homes and others significantly affect earnings per share; and donations/ social cost to nongovernmental organization significantly affect earnings per share. The researchers then recommended that government should encourage listed firms to disclose their donations which will strengthen the earning per share of these firms via increased employee productivity.

Volatility Modelling of Stock Returns in the Petroleum Marketing Sector of the Nigerian Stock Exchange

Introduction: Financial markets play key role in the growth and sustainability of the economy. However, high levels of volatility in the markets may adversely affect the financial system and weaken the economy. Purpose: This paper examined the presence of volatility in the stock returns of the petroleum marketing sector of the Nigerian Stock Exchange using ten petroleum marketing firms quoted on the Nigerian Stock Exchange for a period of twenty-four months that is from January 2017 to December 2018. Methodology: The study adopted empirical research design using time series data where ordinary least squares was employed to run the analysis through the use of ARCH/GARCH models. Findings: Among other results, it was seen that a unit increase in volatility (VLT) will lead to 0.006916 decrease in stock returns (STR). Also, the result of R-squared implies that about eight per cent (8%) of the changes in stock returns (STR) is captured by volatility (VLT) while the remaining ninety-two per cent (92%) of the variation in the model is captured by the error term. The ARCH effect observed is statistically significant. The coefficient of the GARCH effect which is significantly positive at 5% shows that past volatility of stock market return is significant and has effect on current volatility. Unique Contribution to theory, Practice and Policy: The implication of this is that an increase in volatility is linked to a significant increase of returns, which is an expected result and thus conforms to economic theory. The results of static and dynamic forecasting of GARCH volatility showed that the volatility is stable. As a result, investors can hold the stock. Among other things, the author recommends that Government should make sufficient regulatory effort that will improve efficiency of stocks performance and reduce volatility aimed at boosting investors’ confidence in the petroleum marketing sector and since the various ARCH and GARCH models showed volatility movement in stock returns, Nigerian government should look for new ways to diversify the economy from dependence on oil and explore other sectors like manufacturing sector and agricultural sector to reduce volatility in the economy and the overall effect on it.

A STUDY OF VARIOUS DIGITAL MARKETING TRENDS USED BY VARIOUS BUSINESSES DURING THE PANDEMIC

The unprecedented event of the COVID-19 pandemic severely hit every stratum of the economy. Right from local business & start-ups to multinational chains, every enterprise experienced a sag because of a sudden & massive hindrance to their networking & reachability to clientele. Amidst this strenuous financial environment, some budding trends accelerated to become core competencies & survival strategies of these businesses. Digital Marketing & leveraging a presence over the internet expedited as a life-saving, more so, a transformational strategy for many brands. Through this study, the researcher aims to unveil the various approaches, investment trends, & sought-after domains of digital marketing that helped brands survive the pandemic. To effectively do so, the researcher approached various digital marketing firms as sources of garnering preliminary information. For this purpose, the researcher, with the help of primary data & secondary data from the digital marketers, concluded that brands invested in digital marketing during the COVID-19 Pandemic, more than ever. There were also emergence of newer startup ventures & solopreneurs who leveraged the digital media to generate profitable alternate sources of income. The most sought after digital marketing services were, Social Media Marketing(SMM), Website Development & Search Engine Marketing (SEM).

The effect of shopping channel (online vs offline) on consumer decision process and firm's marketing strategy

PurposeThis research investigates the novel questions of whether and how specific forms of shopping channels (online vs offline) influence consumers' decision-making. Moreover, this research investigates marketing firms' proper marketing strategies across different shipping channels.Design/methodology/approachThe authors conducted three studies using a large sample (N = 703) recruited from a diverse pool (students and adults) that examined multiple products (camera and car) across different shopping channels (online vs offline). Study 1a (n = 251) and Study 1b (n = 252) examined the effect of an online versus offline channel on consumers' decision-making using a one-factor (shopping channel: online vs offline) between-subjects design. Meanwhile, Study 2 (n = 200) investigated the effective strategies that firms should employ across different shopping channels using a 2 (shopping channel: online vs offline) × 2 (mental simulation: outcome vs process) between-subjects design. Participants in the online condition evaluated the product on a computer screen, whereas participants in the offline condition evaluated the real product assuming a real-world retail store setting.FindingsThe three studies supported the predictions that shopping channels (online vs offline) affect consumers' psychological distance and, in turn, affect their decision process. Specifically, results reveal that the online (offline) channel increases (decreases) psychological distance and leads consumers to pay more attention to a product's desirability (feasibility) aspects.Originality/valueGiven that many firms sell the same products through multiple channels, the findings of this research offer insightful theoretical and practical implications.

Assessing the Online Shopping Behaviour of Nigerian Youths

Background: Online shopping is the juice of buying and selling of products and services mostly adopted by the youths do their ability and zeal to always go online surfing and browsing as they look for solutions to their everyday needs. Purpose: The objectives of this study were: to ascertain the extent to which youths carry out online shopping; to assess the level of satisfaction of youths towards shopping online; to determine the extent to which online shopping is preferred to traditional shopping; to find out the effect the fear of losing money while shopping online has on the shopping behaviour of youths; and to determine the effects fear of non-delivery of order has on online shopping. Method: The population of the study is made up of students from three higher institutions in Enugu state. Convenience sampling technique was used in interviewing and administering the questionnaire to 90 respondentsafterwhichchi-square,and linear regression were used to test the hypotheses. Result: The findings indicate that Nigerian youths shop online frequently whenever they access various sampling brands, price and delivery options same time. Also, online shopping is preferred to traditional shopping by the sampled youths because it is convenient, offer discounts, have objective reviews from other shoppers. Conclusion: The online presence of most companies has created an opportunity for marketing firms to reach out to the youths by way of interacting with them and getting feedback on the companies products and services. Making it easy for the companies to know the best ways to improve their products or services. This study equally recommends that firms should focus more on establishing an online presence to attend to the shopping needs of youths in Nigeria.

BRAND TRAITS AND BRAND PERFORMANCE OF AUTOMOBILE MARKETING FIRMS IN SOUTH-S0UTH OF NIGERIA

This study examined the influence of brand traits on brand performance of automobile marketing firms in South-South, Nigeria. A conceptual framework was used to illustrate a diagrammatic relationship between dependent and independent variable. The study adopted descriptive research design. The target population was 129 automobile marketing firms in South-South, Nigeria. The study used simple random sampling technique to select 2 respondents each from the 129 automobile marketing firms. The sample size was taken to be 258. A pilot study was carried out to refine the instrument. The quality and consistency of the survey was further assessed using Cronbach's alpha. 258 copies of questionnaire were distributed to respondents, and the number of completed and usable response was 235 out of 258 responses. After data cleaning, 200 (85%) copies of questionnaire were found useful for the analysis. Data analysis was performed on a computer using Statistical Package for Social Science (SPSS Version 22) for Windows. Analysis was done using regression analysis. The study revealed that the components of brand traits significantly influence brand price sensitivity and brand alignment. The study therefore concludes that, brand traits significantly influence brand performance of automobile marketing firms in South-South of Nigeria, and recommends amongst others that managers of automobile marketing firms should position strategically, brand sincerity as identified by this study to brand performance, since the study unveiled its statistical significant influence on the metrics of brand performance (brand price sensitivity and brand alignment).

EXPRESS: Do Nudges Reduce Disparities? Choice Architecture Compensates for Low Consumer Knowledge

Choice architecture tools, commonly known as nudges, powerfully impact decisions and can improve welfare. Yet it is unclear who is most impacted by nudges. If nudge effects are moderated by socioeconomic status (SES), these differential effects could increase or decrease disparities across consumers. Using field data and several pre-registered studies, we demonstrate that consumers with lower SES, domain knowledge, and numerical ability are impacted more by a wide variety of nudges. As a result, “good nudges” designed to increase selection of superior options reduced choice disparities, improving choices more among consumers with lower SES, financial literacy, and numeracy than among those with higher levels of these variables. Compared to “good nudges”, “bad nudges” designed to facilitate selection of inferior options exacerbated choice disparities. These results generalized across real retirement decisions, different nudges, and different decision domains. Across studies, we tested different explanations of why SES, domain knowledge, and numeracy moderate nudges. Our results suggest that nudges are a useful tool for those who wish to reduce disparities. We discuss implications for marketing firms and segmentation.