ULO5 - Market and consumers’ behaviour in the circular economy

Understanding Market and Consumers behaviours is a key factor success for organisations which will operate on the footwear circular economy sector.

In a circular economy, markets and consumer behaviour are influenced by a different set of factors than in a traditional linear economy. Here are some of the themes which will be covered by the MOOC:

  • Increased demand for circular products: As circular economy principles become more widely adopted, there is an increased demand for products that are designed to be reused, recycled, or repurposed. Consumers may be willing to pay a premium for products that have a lower environmental impact or that are made from recycled materials.
  • Greater emphasis on product design: In a circular economy, product design is crucial to ensuring that products can be reused or recycled at the end of their life. Consumers are invited to be more interested in the design and sustainability credentials of products, and may be willing to choose products that have been designed with circular economy principles in mind.
  • New business models: In a circular economy, businesses will adopt new business models in order to remain competitive. For example, a business will have to choose to offer a product as a service rather than selling it outright, which will change the way that consumers interact with the product and the way that value is created.
  • Increased focus on waste reduction: In a circular economy, waste reduction is a key priority. This leads to increased demand for products that have a longer lifespan, or for products that can be easily repaired or refurbished.
  • Greater transparency and traceability: In order to ensure that products can be reused or recycled, there needs to be greater transparency and traceability throughout the supply chain. Consumers are becoming more interested in the provenance of products and the sustainability credentials of the companies that produce them.
  • Model of a circular economy consumer compared to a linear economy consumer
  • Lack of consistency between consumers wishes and effective circular economy behaviours
  • Change management of consumers
  • Crucial role of information and product packaging information

The unit will be divided into learning modules/lectures, each focusing on a specific aspect of the circular economy, market and consumer behavior. Learners will gain an understanding of the role that consumers play in a circular economy model and how their behaviour affects the success of the model.

Consumer behaviour refers to the actions and decisions made by individuals and households when purchasing products or services. In the context of a circular economy, consumer behaviour plays a critical role in determining the success of the model. Consumers have the power to drive demand for sustainable products, support environmentally conscious companies, and reduce waste by making informed choices.

This learning unit will explore the psychological, social, and economic factors that influence consumer behaviour and how these can be leveraged to promote sustainable consumption patterns. Learners will also examine the impact of advertising and marketing on consumer behaviour and how these can be used to support a circular economy.

Through the unit, learners will also explore the latest trends in footwear fashion and market trends related to sustainability, circular economy, and eco-friendly products. They will learn how to identify and analyse these trends, and how to incorporate them into their products or services.

The unit will highlight the importance of customer feedback and how to use it to improve their products or services. Learners will also examine market research techniques and how to use them to better understand their target audience and how to identify and meet customer and market needs in the circular economy.

Finally, learners will understand how to effectively promote their products or services through new ICTs and social media platforms. They will explore various digital marketing strategies and how to use them to reach their target audience. Learners will also examine the role of social media in the circular economy and how to use it to engage with customers and promote sustainable business practices. By the end of the module, students will have a deep understanding of how to effectively use digital marketing in the circular economy.

ULO5 - NOTES - EN
ULO5 - NOTES - RO
ULO5 - EN - VIDEOS
ULO5 - TEST QUIZ - EN