Economists, industry leaders discuss consumer marketing

Economists, industry leaders discuss consumer marketing

by Martin Badoy on December 21, 2012 - 11:28 am

Dr. Bernardo Villegas talks about the Philippine economy during the roundtable discussion. Photo courtesy of CRC

Dr. Bernardo Villegas talks about the Philippine economy during the roundtable discussion. Photo courtesy of CRC

 

“In the third quarter, GDP growth was 7.1 percent…the fourth quarter will be about 8 percent.”

Center for Research and Communication (CRC) Director and Leo Parma Professorial Chair Dr. Bernardo Villegas declared this in CRC’s roundtable discussion on consumer marketing, December 3.

According to Dr. Villegas, the economic growth would be due to stronger remittances, election spending, and high local consumption.

Discussants included representatives from GFK Retails and Technology Philippines, Alaska Milk Corporation, Pilipinas Hino, Inc., and Marie France.

Dr. Winston Padohinog. Photo courtesy of CRC

Dr. Winston Padojinog. Photo courtesy of CRC

According to Dr. Villegas, the meeting sought to share perspectives on how economics affects consumer behavior, as well as to promote the creation of a joint database run by UA&P and other partner institutions to further consumer research.

Experts from UA&P and other institutions comprised the roster of speakers.

Dr. Winston Padojinog, dean of the UA&P School of Management, talked about the economic influence of the Filipino middle class. Nicco de Jesus of the Marketing and Opinion Research Society discussed the findings of his company’s study on  socioeconomic classes. Tony Abaya of the Socially-relevant Economically-viable Environmentally-sustainable Development Institute reported on the consumption behavior of mothers from classes C to E. Dr. Cid Terosa, vice dean of the UA&P School of Economics, presented the findings of a recent study on OFW remittances and expenditure.

Discussants also said they felt the need for studies on psychological and cultural influences of consumers. UA&P economist Bienvenido Nito suggested that a consumer marketing conference be held in 2013 to explore psychographic consumer research.

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