A Humanistic Approach to Recommender Systems: Implications for 5.0 Marketing Management

Abstract

In the producer-customer interaction, humanistic management places a strong emphasis on the end-user interests. This perspective embraces a number of more focused philosophies that highly value human development, potential, and dignity. A reaction to the emerging mega-trend that calls for reevaluating marketing is humanistic marketing. Recently, 5.0 marketing management was created by integrating conventional theories of consumer behavior with fundamental concepts from humanistic psychology, such as the ability for self-actualization, self-direction, and choice. Currently, research on online consumer behavior examines how customers select products from e-commerce platforms, and recommendation engines are crucial to this process. A sort of information filtering system called a recommender system makes suggestions for products or services based on the user’s areas of greatest interest. The present cross-sectional research will further investigate how the main types of recommender systems—social-aware recommender systems, robust recommender systems, and explainable recommender systems—are perceived by individuals depending on three psychological characteristics: trust, suspiciousness, and fast and slow thinking decision-making system. A sequential mediation analysis was employed, and a significant indirect effect was observed, results indicating the impact of anchoring effect. Implications are discussed with regard to an efficient 5.0 marketing management strategy.