RESEARCH OF FACTORS INFLUENCED ON THE LABOR MARKET WITH THE HELP OF ECONOMETRIC MODELING

Keywords: marketing research, econometric methods, econometric models, correlation-regression analysis, trend extrapolation, adaptive models, heuristic methods, software

Abstract

The article analyzes and summarizes econometric methods and models for the successful implementation of marketing research at the enterprise. The main advantages and disadvantages of the methods are noted. The range of marketing tasks that they solve is systematized and a set of marketing activity models is proposed that allow improving the quality and efficiency of marketing decision-making. Recommendations are given for their application in accordance with the tasks and conditions of marketing research. Methods of correlation-regression analysis and the possibilities of its application in marketing research are highlighted. It is noted that the most influential factors on demand and consumption are such as the level of consumer income, the level and ratio of prices for goods and services, as well as their changes, the quantitative and age-sex composition of the family, production and state of the product market and other factors: geographical, climatic, demographic, etc. The most widely used econometric models of the relationship between sales volumes and factors influencing the marketing environment, costs of promoting the product on the market; the number of potential consumers and the factors that determine them; determining the influence of the level of education and age on the purchase of a certain type of product; determining the influence of psychographic characteristics of consumers on the formation of their preferences and values; the relationship between the level of education and the choice of goods; the available income of consumers and the method of searching for attractive goods. Based on these models, the most significant factors of the influence of the marketing environment on the activities of the enterprise are determined; the portrait of consumers of goods; the effect of advertising. The feasibility of using trend extrapolation methods for forecasting product sales volumes, net profit, determining seasonality and cyclical factors by breaking down the time series into appropriate components is noted. Autoregressive analysis solves such marketing research tasks as forecasting potential consumers; calculating forecast estimates of demand for goods, etc. The main stages of econometric analysis in marketing research are determined. Modern software is recommended for its practical implementation.

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Available at: http://www.economy.nayka.com.ua/?op=1&z=5676.

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Published
2024-12-30
How to Cite
Vilchynska, O., & Tsikhanovska, O. (2024). RESEARCH OF FACTORS INFLUENCED ON THE LABOR MARKET WITH THE HELP OF ECONOMETRIC MODELING. Economy and Society, (70). https://doi.org/10.32782/2524-0072/2024-70-101
Section
ECONOMICS