In What Country Are People the Happiest? (Hint: It’s Not the U.S.)

The OECD (Organization for Economic Cooperation and Development) currently comprises 34 countries: Australia, Austria, Belgium, Canada, Chile, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Israel, Italy, Japan, Korea, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States.
The OECD regularly conducts surveys in its member countries to determine the Life Satisfaction there:
“Life satisfaction measures how people evaluate their life as a whole rather than their current feelings. It captures a reflective assessment of which life circumstances and conditions are important for subjective well-being. When asked to rate their general satisfaction with life on a scale from 0 to 10, people across the OECD gave it a 6.6 grade. Life satisfaction is not evenly shared across the OECD, however. Some countries – Estonia, Greece, Hungary, Portugal, and Turkey – have a relatively low level of overall life satisfaction, with average scores of less than 5.5. At the other end of the scale, scores were higher than 7.5 in Canada, Denmark, Norway, and Switzerland. There is little difference in life satisfaction levels between men (6.6) and women (6.7) across OECD countries. Education levels do, however, strongly influence subjective well-being. Whereas people who have only completed primary education across OECD countries have a life satisfaction level of 6.2, this score reaches 7.2 for people with tertiary education.”
According to the OECD’s most recent survey, the United States rates 17th in Life Satisfaction among the 34 countries: “In general, Americans are less satisfied with their lives than the OECD average, with 75% of people saying they have more positive experiences in an average day (feelings of rest, pride in accomplishment, enjoyment, etc.) than negative ones (pain, worry, sadness, boredom, etc.). This figure is lower than the OECD average of 76%. The top five countries in Life Satisfaction are Switzerland, Norway, Denmark, Canada, and Iceland.
Click this link, then click the “Countries” tab, and choose a country to learn more about “How’s Life” in each of the 34 countries in the OECD survey.

And for a fun interactive Web site on the “Better Life Index,” click the chart below, look at the responses in the individual countries, and enter your own answers. [Note: Click “Create your index”]

 
Better Life Index
 

Posted in Global Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , , , | 1 Comment

Sensory Marketing – Strengthening Brand Perception by Appealing to all the Five Senses

Although the notion of appealing to the senses to sell products is not new, it is evident that the future belongs to companies that create more than just products or services. It lies within the grasp of brands that are willing to innovate and create buying experiences that take advantage and charm for all of the five senses – touch, taste, sight, smell, and sound.

Evans on Marketing's avatarEvans on Marketing

This guest post was written by Ram Kumarasubramanian. After working for several years, Ram graduated fromHofstra University’s Zarb Schoolin 2012 with an MBA in Marketing and membership in the Beta Gamma Sigma honor society. He is currently a Master of Science in Information student at theUniversity of Michigan School of Informationspecializing in Human Computer Interaction. You can connect with him viaTwitterorLinkedIn.

Ram
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Sensory marketing or sensory branding refers to the attempts made to indulge and appeal to the senses of the customers while promoting a product, by adopting a multi-sensory brand experience approach.

While brands have always placed an emphasis on providing cues that are geared towards creating the intended perception in the consumers’ minds, multi-sensory marketing aims to step up the experience by engaging all of the five senses or at least a majority of them. Sensory marketing (SM) has come…

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Posted in Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , , , , , | 1 Comment

eMarketer’s Retail Blog

Did you know that research firm eMarketer has an extensive retail blog that covers “retailer performance, store productivity, and consumer spending”?
Click on the image to read one of the recent posts.

 

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business | Tagged , , , , , | 2 Comments