This post was recovered from an article first posted on 2013-01-12 06:08:33

“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 holder Dr. Bernardo Villegas declared this in CRC’s round table discussion on consumer marketing, December 3, 2012. According to Dr. Villegas, the economic growth would be due to stronger remittances, election spending, and high local consumption.

[ Photo: crcarch201301120608a]

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.

[ Photo: crcarch201301120608b]

Discussants included representatives from GFK Retails and Technology Philippines, Alaska Milk Corporation, Pilipinas Hino, Inc., and Marie France. 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. 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 to explore psychographic consumer research.

[ Photo: crcarch201301120608c]