FACTORS THAT INFLUENCE THE STRATEGIC COMMUNICATION MODEL AND ITS IMPACT ON CONSUMER BEHAVIOR: MAGUSEVA CASE STUDY

Factores que influyen en el modelo de comunicacion estrategica y su impacto en el comportamiento del consumidor: Caso de estudio MAGUSEVA

 Edison Manuel Arroba Freire^[1]: Higher Institute of Technology España. Ecuador.
edison.arroba@iste.edu.ec

 

 Diego Gustavo Toapanta Cunalata^[2]: Higher Institute of Technology España. Ecuador.

diego.toapanta@iste.edu.ec

 

 Orlando Rubén Toscano Ramos^[3]: Higher Institute of Technology España. Ecuador.

orlando.toscano@iste.edu.ec

How to reference this article:

Arroba Freire, E. M., Toapanta Cunalata, D. G., & Toscano Ramos, O. R. (2023). Factors that influence the strategic communication model and its impact on consumer behavior: MAGUSEVA case study. Vivat Academia, 156, 47-64. http://doi.org/10.15178/va.2023.156.e1483  

ABSTRACT

MAGUSEVA is a company dedicated to the production and manufacture of bus seats, as well as other products made of hard plastic materials for use in homes, companies or businesses. The company has stood out for the quality of its products and the satisfaction of its customers, which has allowed its growth and positioning in the market. However, in a competitive environment in which companies must stand out and differentiate themselves, it has been necessary to develop effective advertising and promotional strategies to increase their production and sales. In response to this need, an investigation was carried out with the aim of strengthening the design of advertising campaigns to strengthen the relationship with current customers and attract new ones. For this, a quantitative methodology was used with a proactive critical paradigm, and the technique used was the survey, with the questionnaire as an instrument to validate the data obtained. The results show that 77% of those surveyed prefer discounts on their purchases, while 23% want gift products. It is concluded that the company has a large market share of more than 70%, which allows it to maintain its stability as a company and expand by opening new branches to meet the needs of consumers.

Keywords: Advertising, Campaigns, Consumer behavior, Strategies, Strategic model.

RESUMEN

MAGUSEVA es una empresa que se dedica a la producción y elaboración de asientos para autobuses, así como otros productos fabricados con materiales de plástico duro para su uso en hogares, empresas o negocios. La compañía ha destacado por la calidad de sus productos y la satisfacción de sus clientes, lo que ha permitido su crecimiento y posicionamiento en el mercado. Sin embargo, en un entorno competitivo en el que las empresas deben destacar y diferenciarse, se ha visto en la necesidad de desarrollar estrategias publicitarias y promocionales efectivas para aumentar su producción y ventas. En respuesta a esta necesidad, se llevó a cabo una investigación con el objetivo de fortalecer el diseño de las campañas publicitarias para afianzar la relación con los clientes actuales y atraer a nuevos. Para ello, se utilizó una metodología cuantitativa con un paradigma crítico propositivo, y la técnica utilizada fue la encuesta, con el cuestionario como instrumento para validar los datos obtenidos. Los resultados demuestran que el 77% de los encuestados prefieren descuentos en sus compras, mientras que el 23% desea productos de regalo. Se concluye que la empresa, tiene una gran cuota de mercado de más del 70%, lo que le permite mantener su estabilidad como empresa y expandirse abriendo nuevas sucursales para satisfacer las necesidades de los consumidores.

Palabras clave: Campañas, Comportamiento del consumidor, Estrategias, Modelo estratégico, Publicidad.

Factores que influenciam o modelo de comunicação estratégica e o seu impacto no comportamento do consumidor: o estudo de caso MAGUSEVA

RESUMO  

A MAGUSEVA é uma empresa que se dedica à produção e fabrico de bancos para autocarros, bem como de outros produtos em materiais plásticos duros para utilização em casas, empresas ou negócios. A empresa tem-se destacado pela qualidade dos seus produtos e pela satisfação dos seus clientes, o que lhe tem permitido crescer e posicionar-se no mercado. No entanto, num ambiente competitivo em que as empresas têm de se destacar e diferenciar, tem-se verificado a necessidade de desenvolver estratégias publicitárias e promocionais eficazes para aumentar a sua produção e vendas. Em resposta a esta necessidade, foi realizada uma investigação com o objectivo de reforçar a concepção de campanhas publicitárias para fortalecer a relação com os clientes existentes e atrair novos clientes. Para o efeito, recorreu-se a uma metodologia quantitativa com paradigma crítico propositivo, e a técnica utilizada foi o inquérito, tendo o questionário como instrumento de validação dos dados obtidos. Os resultados mostram que 77% dos inquiridos preferem descontos nas suas compras, enquanto 23% querem produtos de oferta. Conclui-se que a empresa tem uma grande quota de mercado, superior a 70%, o que lhe permite manter a sua estabilidade como empresa e expandir-se através da abertura de novas filiais para satisfazer as necessidades dos consumidores.

Palavras chave: Campanhas, Comportamento do consumidor, Estratégias, Modelação estratégica, Publicidade.

1. INTRODUCTION

Strategic management is an essential process for organizations as it allows them to plan and make long-term decisions to achieve their goals and ensure their growth in the market. To carry out a strategic advertising plan, it is important to consider aspects such as market analysis, identifying target audiences, defining communication objectives, establishing the budget and media strategy, among others. Having good strategic management is essential for a company to have a clear vision of the future and have a specific action plan to achieve its purposes. Strategic management is related to the process carried out by managers in organizations to anticipate the future and, in an operational and systematic way, be able to reach it" (Murillo, 2018). It is also known as "The art and science of formulating, implementing, and evaluating decisions through functions, with the aim of achieving all its objectives" (Cristancho and Ramírez, 2019).

Strategic communication is a systematic and planned approach to organizational communication that seeks to maximize the impact and effectiveness of communication in achieving an organization's strategic objectives (Gutiérrez-García and Sadi, 2020). In simple terms, strategic communication involves using communication as a tool to achieve an organization's goals, whether it is improving public image, increasing sales, or enhancing customer satisfaction.

Strategic communication involves the identification of an organization's communication objectives, the definition of key messages, the selection of appropriate communication channels, and the measurement of results (Tur-Viñes and Monserrat-Gauchi, 2014). To be effective, strategic communication must be aligned with the overall strategy of the organization and must be consistent at all times. Furthermore, strategic communication is a continuous process that requires constant evaluation and adjustments as necessary to achieve the organization's communication objectives (Herrera-Morillas, 2021).

When it comes to marketing, advertising agencies must take into account both originality and performance in their advertising campaigns. To achieve a balance between the two, it is necessary for the agency to have a strategic team, analytical tools, and sources of information that are constantly updated. A clear example is the planner, who is responsible for conducting pre-creation research and evaluating the results of advertising campaigns to ensure their effectiveness. This role works closely with the creative team to ensure that campaigns are based on accurate research and data, which can lead to better results (Oñate, 2019).

Advertising is presented as an essential tool for any company that wishes to achieve its objectives. It specifically aims to stimulate sales, whether in the immediate or long term, and relies on the art of persuading consumers to acquire a particular product or service (Sojo-Gómez, 2021). In the context of a company's promotional mix, advertising is integrated with other elements such as personal selling, sales promotion, and public relations, in a combination that seeks to achieve the marketing objectives established by the company (Guayaquil-Herrera, 2019).

To implement accurate advertising strategies, it is necessary to follow a five-stage process. Firstly, the strategic concept must be designed, meaning that the objectives to be achieved with advertising need to be defined. Next, tactics should be developed to effectively carry out the strategy. Scheduling is another key stage, as it involves determining the timing and media channels for launching the advertising. Budgeting is also an important factor to consider in the advertising strategy, as the necessary resources must be allocated for its execution. Lastly, it is essential to have a monitoring and control system to evaluate the results of the strategy and make necessary adjustments to achieve the established objectives (Guayaquil-Herrera, 2019).

Within business strategies, it is possible to distinguish various types that pursue different objectives. Particularly, defensive strategies are designed to prevent the loss of current customers. On the other hand, development strategies aim to offer current customers a wider range of products or services. Finally, attack strategies seek to generate business from new customers (González et al., 2020).

MAGUSEVA company offers personalized upholstery services for various items, such as car seats, office furniture, plastic dividers for vehicles, 100% waterproof seat covers for cars, buses, and trucks, as well as plastic cabins for buses. The company advertises its products as elegant, durable, easy to clean, and made with hypoallergenic materials. Starting from this reference, it is important to understand polymers. Historically, humans relied exclusively on natural materials to create tools, utensils, and everyday objects. It is known that ancient Egyptians in the pharaohs' dynasty used natural resins for embalming their deceased and also used heated natural asphalt to mold figures and containers. The history of plastic dates back to the United States in 1860 when its creation began. In 1907, Leo Baekeland invented Bakelite, which was considered the first thermosetting plastic. This material was a heat-resistant insulator, resistant to moderate heat, acids, and water, which had a significant impact. Its popularity grew rapidly, and by 1930, scientists were creating modern polymers that now dominate the industry (Nieto y Mantilla, 2021). Plastics are one of the most versatile and efficient materials available in society, and they contribute significantly to the main goals of sustainable development. Although they only consume 4% of the world's oil, they are valuable and can be recycled or used as an alternative fuel at the end of their life cycle. Additionally, they are essential for the use of renewable energies such as solar panels and wind turbines. Plastic protects against pollution, moisture, and UV rays, ensuring freshness in environments (Albarracin, 2019).

The vehicle upholstery industry has evolved over time and has improved both in terms of aesthetics and compliance with higher performance and environmental standards. The leather products used now have a more natural and appealing appearance for users, but at the same time, they must comply with stricter regulations on restricted substances to protect the environment and human health. However, despite these advancements, the industry continues to seek ways to improve cost efficiency and increase profitability. This may include searching for alternative materials that are more affordable but meet the same standards of quality and performance, as well as adopting more advanced technologies to enhance production efficiency and reduce costs (Ammar-Reyes, 2016).

Due to the growing demand for products, it has been decided to increase the company's capital in order to import directly and diversify the stock, with the aim of meeting customer needs. According to Barbei (2020), a product is anything that can be offered in the market to satisfy customer needs, whether they are physical objects, services, people, places, among others.

To increase short-term sales, strategies should be developed to encourage current customers to buy more and potential customers to start buying soon, as pointed out by Hinostroza and Laureano (2020). In this sense, it is necessary to stimulate the desire for quick purchases, taking into account that customers seek to get the maximum benefit for their money. To achieve this, incentives can be offered to customers and the appropriate strategy can be used, as mentioned by Alcamamani-Porco (2022).

The objective of the research is to determine the most effective advertising strategic model for the brand MAGUSEVA, based on consumer knowledge, as well as identifying the factors that influence customers, providing the possibility of increasing sales. With the increase in import frequency and obtaining a larger quantity of new products, an appropriate stock to meet market needs, and a clear, accurate, and successful advertising plan was designed to promote the purchase of products in larger quantities.

Market research is essential to understand the consumer well and communicate effectively with them. It is important to know their tastes, preferences, and behaviors to define the sales strategy and plan effective actions for the sale of products and services. Professionals in marketing, advertising, and related fields must be familiar with consumer behavior and know when and how to apply different market research tools. It is important to note that the research process is not limited solely to the start of a new business but should be an ongoing activity to stay updated and adapt to changes in the market (Guevara, 2014). The online university UNIR, in its publication "The Benefits of Market Research: Clarity and Accuracy" (Vera, 2022), also emphasizes the importance of knowing the consumer well and using market research as a tool to achieve effective communication and meet their needs and expectations.

The use of market research techniques allows for a broad and detailed understanding of the movements of buyers and sellers. It helps us gather more real and objective information to make informed decisions and achieve a higher degree of success that benefits the company's growth. The company understands that advertising will help improve market positioning, making the brand influential and allowing it to expand into various market segments, including the family, corporate, and healthcare sectors, among others.

Consumer behavior refers to the set of internal and external processes that an individual initiates to satisfy their needs through goods and services. From a marketing perspective, consumer behavior refers to the decision-making process and activities they undertake to search, evaluate, and acquire the goods and services that best meet their needs (Raiteri, 2016).

Understanding consumer behavior is a key element for companies as it allows them to understand the reasons why customers choose certain products or brands over others. In this way, they can identify the most relevant factors in making commercial decisions. Among the most important factors that consumers value are low prices, proximity, and personalized attention at the time of purchase. Companies that offer quality products and services at competitive prices and prioritize providing close and personalized attention tend to be more successful and establish themselves in the market (Espinel et al., 2019).

According to researcher Linguido (2005), "an advertising plan is one that specifically describes the ideas and tasks necessary to create and implement an effective advertising effort." With this research, which provides us with clear goals, differentiated segments, and an understanding of how customers want to engage with us, we can apply advertising strategies with consistency, constancy, and coherence. This involves creating campaigns designed to address the needs identified in the survey, including traditional media campaigns and social media marketing campaigns. This allows us to better showcase our products, promotions, and timelines, achieve better market positioning, and increase sales potential (Diaz-Rojas, 2020)

2. METHODOLOGY

MAGUSEVA is a company that is dedicated to providing services and customer support in various areas, such as product sales, technical advice, and support. Since the quality of the service it provides is a key factor for customer satisfaction and, therefore, for the success of the company, research was conducted to evaluate the procedures used to attend to customers and gather detailed information about them.

In the present study, a quantitative methodology was employed. A population of 71 individuals with a level of heterogeneity of 50% was determined. A margin of error of 5% and a confidence level of 95% were considered to determine the sample size, resulting in 61 respondents. A questionnaire consisting of 10 questions was used, with 5 of them presenting closed-ended response options classified according to various criteria, while the remaining questions included only one closed-ended response option. The surveys were distributed online through Google Forms to the company executives and regular customers to ensure convenience and accessibility for the respondents. The data processing and analysis were conducted using Microsoft Excel. This software facilitated the generation of graphs and tables to represent the survey results.

This allowed for the collection of detailed information about the procedures used to serve customers and identify areas of opportunity to improve service quality. Two methodological approaches were employed to analyze the data: deductive approach, which involved applying general principles to specific cases, and inductive approach, which was used to generate theories from the specific data collected. In this way, it was possible to evaluate how general principles are applied to the procedures for serving customers in the company and generate theories from the specific data collected.

Once the data was analyzed, a hypothesis was formulated: "The advertising strategic model influences the impact on consumer behavior within MAGUSEVA company." This will help determine one of the factors involved in customer behavior, allowing focus and development of commerce strategies and maximizing sales. The chi-square test for 2x2 contingency tables was used for this purpose.

3.  RESULTS

Figure 1

Most frequented advertising media

Source: Author´s own work.

It was determined that 79% of the respondents corresponded to Social Media, 13% to Traditional Media, 5% to General Above-the-Line Advertising, and 3% to Print Media. Therefore, we can deduce that the best medium to use, in terms of advertising and promotional plans, is social media, as it is currently the most widely used platform that people check daily. It also gives us an advantage since advertising costs through these channels are more affordable.

 

Figure 2

Appealing factors in the purchase of a product

Source: Author´s own work.

It was determined that 77% of the respondents chose the option "Percentage Discount" and 23% chose "Gift Product." Therefore, it is evident that customers prefer discounts on products. As a result, a promotional proposal can be developed based on attractive discounts to significantly increase the customer base.

Figure 3

Attention-grabbing features

Source: Author´s own work.

The survey results reveal that 56% of the respondents prefer the category of "Offers," followed by 34% in the category of "Price," and 10% in the category of "Demand." This indicates that offers are the most important factor for customers when making their purchases. Consequently, it is proposed to implement a promotional plan focused on a value proposition that highlights the product offers to attract new customers and retain existing clientele.

 

 

 

 

 

 

Figure 4

Number of items offered by Maguseva

Source: Author´s own work.

Seventy-seven percent of the respondents purchase between 1 and 3 products, indicating that monthly purchase ads have mainly generated sales within this range. There is an opportunity for growth in the purchase drop by identifying the products with the highest turnover. This will allow the development of aggressive promotional proposals to encourage their purchase and increase the brand's presence at the points of sale, consolidating its position in the market.

Figure 5

Digital means of communication that customers prefer

Source: Author´s own work.

It was determined that 43% of the respondents correspond to Digital catalogs, 36% to Websites, and 21% to Facebook. Therefore, digital catalogs are the most effective means to showcase products and promotions, as they have the highest acceptance among the respondents and are less expensive and more durable than printed catalogs.

Table 1

Strategic advertising model (Five multiple choice questions)

Options	Frequency	Percentage
Always	16	26%
Almost always	14	23%
Sometimes	15	25%
Amost  Never	9	15%
Never	7	11%
Total	61	100%

Source: Author´s own work.

Grouping of five questions ("Do you believe that advertising campaigns influence your purchasing decisions?"; "Do you pay more attention to the advertising message or other factors such as price, functionality, design, or product quality?"; "Do you believe that competition between brands influences your purchasing decisions?"; "Do you believe that the values or brand image of a company influence your purchasing decisions?"; "Do you believe that advertising campaigns influence your loyalty to a brand or product?")

The results obtained suggest that advertising has a significant impact on consumers' purchasing decisions. In fact, the option "Always" was the most common response among respondents, with a frequency of 26%, followed by "Almost always" with 23%. However, it was observed that 51% of the respondents answered "Sometimes," "Almost never," or "Never," indicating that other factors also influence the choice of a product or service.

Furthermore, it is observed that consumers take into account various aspects in their purchasing decisions, such as price, functionality, design, and product quality. This suggests that advertisers should consider these factors when designing their advertising strategic model. In this way, effective advertising strategies can be developed that take into account all relevant variables and increase the chances of success in the market.

Table 2

Hypothesis testing

		Does the product meet the needs of the majority of users?
		Meets	Doesn't Meet	Total
Have you ever heard about Maguseva?	Have heard	44	53	97
	Havent heard	17	8	25
	Total	61	61	122
	Probability	0,5%	0,5%

´Source: Author´s own work.

Chi calculated = 4.08, Chi table = 3.8. The percentiles 90, 95, and 99 of the chi-square distribution with 1 degree of freedom are 2.71, 3.84, and 6.63 respectively. Therefore, we can affirm that there is a probability between 95% and 99% of the association between the two variables. Thus, the null hypothesis is rejected, and we conclude that: The advertising strategic model influences the impact on consumer behavior within the company MAGUSEVA.

In MAGUSEVA, the factors identified based on analysis and information gathering are:

Table 3

Factors that influence the strategic communication model in MAGUSEVA

Communication objectives	To offer products and reach new audiences based on the implementation of new strategies, while remaining relevant in the market of producing and manufacturing seats for buses and other products made with hard plastic materials for use in homes, businesses, or other establishments.
Audience	Customers in need of purchasing upholstery or seats for buses or bodywork, the transportation market, and customers in need of acquiring other products made with hard plastic materials for use in homes, businesses, or other establishments.
Channels	Digital media communication
Message	Offer upholstery, seats for buses, and other products made with hard plastic materials for use in homes, businesses, or companies.
Context	Economic, transportation industry, home, and offices.
Feedback	Previous customers, inventory of previously marketed products, and suppliers.
Resources	Human resource quantity in MAGUSEVA          Human resource labor time,          Inventory and stock.
Competition	Companies that specialize in the production and manufacturing of bus seats, and companies that specialize in the production of other products made with hard plastic materials for use in homes, businesses, or offices.

Source: Author´s own work.

Definition of the factors and their established characteristics based on the information obtained from MAGUSEVA.

4.  DISCUSSION

The implementation of an advertising plan based on technology and social media can be an effective strategy to improve sales and distribution of MAGUSEVA products. Since the company already has recognition in the market, it can be expected that a well-executed advertising plan will reach a wider audience, supported by the ideas of Albarracín (2019) and Bonilla et al. (2018), who agree that marketing should be directed towards the customers' perspective on the brand, offering them quality content, digital reputation, and result monitoring.

In this regard, advertising on social media is a highly effective marketing tool, as highlighted by Armstrong and Kotler (2013), as it allows for effective targeting and reaching specific audiences, significantly influencing consumer behavior (Lalaleo-Analuisa et al., 2021). To maximize the results of the advertising plan, it is necessary to identify the most popular products and offer attractive promotions that encourage their purchase. This way, the advantages of advertising on social media can be fully utilized, creating a positive and appealing image for new consumers, improving customer loyalty, and increasing sales volume (Bonilla-Jurado et al., 2020).

Regarding strategic communication, Tur-Viñes and Monserrat-Gauchi (2014) and Herrera-Morillas (2021) agree on the importance of having a strategic communication plan to achieve organizational objectives and improve communication effectiveness. The authors emphasize that strategic communication should be aligned with the organization's objectives and consistent at all times to achieve success in communication management and goal achievement.

Furthermore, Gómez Nieto (2016) highlights the importance of segmentation and targeting in strategic communication. The author points out that digital advertising has become a key tool to reach the right audience, so advertisers must be able to segment and direct their messages to the appropriate users at the right time and place. Aligning with the research, strategic communication is conceived as a key element to achieving organizational objectives and improving communication effectiveness. To do so, it is essential to have a strategic communication plan that is aligned with business objectives and remains consistent at all times. Additionally, advertisers must be able to segment and direct their messages to the appropriate audience at the right time and place to achieve effective communication in the digital environment.

Continuing with the focus on digital marketing and its impact on the company, Villaverde and Valencia-de-Lara (2009) mention that social media can be useful for promoting and disseminating the company, as well as creating a positive brand image. It also facilitates communication and contact with customers, serving as an effective tool to promote service quality and attract new customers through recommendations and positive reviews (Monroy, 2021). The importance of personalization and segmentation in digital advertising is also highlighted, as it allows companies to reach their target audience more effectively and stand out in an information-saturated environment (Gómez-Nieto, 2016).

While this strategy brings benefits, it can also represent a tool that alienates customers, as proposed by De Salas (2010), suggesting that companies develop advertising strategies that are respectful to users and provide them with added value, rather than simply aggressively trying to sell their products or services. This references invasive and poorly designed advertising, which is corroborated by Castaño-Ramírez and Arias-Sánchez (2021), who argue for the importance of having proper corporate social responsibility due to its positive impact on a company's reputation. Consumers and other stakeholders increasingly value ethical and responsible practices of companies, which include friendly advertising.

In addition, promotions and discounts are valuable tools for attracting customers and stimulating product demand (Clow and Baack, 2010). However, the offering of promotions cannot be random or indiscriminate; it must focus on key products that need to be made known to customers. In this regard, it is important for the company to conduct a market analysis to identify which products have the highest sales potential and apply promotions and discounts to them, so that the offer is attractive to customers. This aligns with Barbei (2020), who argues that identifying products with high sales potential and applying promotions and discounts are effective tools for attracting and retaining customers.

For the reasons previously mentioned, it is important that in the implementation of a promotional plan, customer satisfaction when purchasing the company's products is crucial. This can be achieved by offering various purchasing alternatives, such as discounts and promotions, so that the customer feels they are getting a good value for their money. This helps in building customer loyalty and gaining a competitive advantage over other companies offering similar products (Guayaquil-Herrera, 2019). The relationship between customer satisfaction and product quality has a positive impact on the customer's perception of the company (Mora-Contreras, 2011), and it is a key factor in customer loyalty and long-term profitability (Clow and Baack, 2010). Therefore, it is essential for the company to strive to meet all levels of customer satisfaction through its promotions and discounts.

In conclusion, social media has become a key tool for companies in their marketing strategies. Through social media, companies can effectively reach their target audience, generating greater visibility and brand reach. This allows for closer and more personalized communication with consumers, resulting in increased customer loyalty and brand advocacy. In this sense, advertising is not only about selling products or services but also about building a community. As highlighted by Cepeda-Palacio (2014), brand conceptualization should include different meanings that society can assimilate. This involves building and communicating a brand image that resonates with the values and desires of consumers.

5.  CONCLUSIONS

It is evident that MAGUSEVA holds a leadership position in the current market with a recognition exceeding 70%. This positioning has allowed them to maintain their business stability and expand through the opening of new branches to meet the demands of their customers. The implementation of advertising strategies plays a crucial role in decision-making within companies, and their impact on consumer behavior translates into a stronger product positioning in the current market. In this way, companies can generate new experiences for consumers, contributing to increased loyalty and satisfaction.

MAGUSEVA recognizes the relevance of designing and implementing advertising strategies for the success of their products in the market. Specifically, they understand the potential offered by advertising on social media, allowing them to reach a wider audience and create digital communities of new customers. The digitization of information and the evolution to web 2.0 have transformed how companies approach advertising and communication with their audiences. These advancements enable greater effectiveness and efficiency in brand communication and product promotion.

It is evident that there is a need to classify products appropriately when advertising them on social media, considering that each platform presents different trends and usage times by users. In the Ecuadorian context, it has been observed that people spend between one to two hours daily browsing social media, which makes it even more relevant to find an optimal digital alternative that aligns with the social media platform the company wants to use to enhance its products and maximize its reach.

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AUTHOR CONTRIBUTIONS, FUNDING, AND ACKNOWLEDGMENTS

Author Contributions:

Conceptualization: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Methodology: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Validation: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Formal analysis: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Data curation: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Writing-Preparation of the original draft:Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Writing-Revision and Editing: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Visualization: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Supervision: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. Project management: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. All authors have read and accepted the published version of the manuscript: Arroba Freire, Edison Manuel, Toapanta Cunalata, Diego Gustavo y Toscano Ramos, Orlando Rubén. 

AUTHOR/S:

Edison Manuel Arroba Freire: Master's in Family Business Administration (Ambato, Ecuador). Bachelor's in Marketing and Business Management from the Technical University of Ambato. Currently, he is a Lecturer in the Marketing and Administration program, Leader of Outreach Projects for Society in the Marketing program, and Leader of Research Projects at the Instituto Tecnológico Universitario España. He is the General Manager of Auto Tapicería Magusev, a company dedicated to the production and manufacturing of bus seats. He has published a total of 6 scientific articles since 2018 as an author and co-author.

Orcid ID: https://orcid.org/0000-0002-7196-0784  

 

Diego Gustavo Toapanta Cunalata: Master's in Financial Management, Lecturer in Financial Analysis, Budgeting, and Cost Accounting at the Technological Superior University España, Tungurahua, Ecuador.

Orcid ID: https://orcid.org/0000-0002-2721-9534
 

Orlando Rubén Toscano Ramos

Orcid ID: https://orcid.org/0000-0002-2419-7691 
 

 

¹ Edison Manuel Arroba Freire: Master's degree in Family Business Administration, Teacher at the Higher Institute of Technology España in Ecuador.

² Diego Gustavo Toapanta Cunalata: Master's degree in Financial Management of Companies, Teacher at the Higher Institute of Technology España in Ecuador.

² Orlando Rubén Toscano Ramos: Master's degree in Applied Mathematics, Teacher at the Higher Institute of Technology España in Ecuador.