Showing papers on "Marketing strategy published in 2018"

SMEs and Marketing: A Systematic Literature Review

Abstract: This paper presents a systematic review of recent academic literature analysing the role, organization and management of marketing activities in small and medium-sized enterprises (SMEs). To this end, 310 articles published between 2006 and 2015 in 69 main journals devoted to small firms/entrepreneurship and management/marketing fields were analysed. This review shows that SMEs’ marketing has received great attention in both management and marketing literature in recent years. Findings reveal, on the one hand, the emerging role of networks and information and communication technologies in marketing behaviour by SMEs, and on the other hand a research gap in terms of specific marketing practices. Entrepreneurial marketing has been used as the main conceptual framework in reviewed studies, even if findings overall still point out a distance between the theoretical bases of reviewed contributions and the study of SMEs’ marketing behaviour and practices. Therefore, future research on the role of resources, relationships and networks could benefit from the combination of theories developed within the field of entrepreneurship with other approaches such as the resource-based view, the dynamic capabilities theory and the Industrial Marketing and Purchasing (IMP) framework.

Marketing Capabilities in International Marketing

Abstract: There has been a significant increase in scholarly research focusing on marketing capabilities as an important aspect of marketing theory–based explanations of firm performance. This growing research interest in marketing capabilities has also been reflected in the international marketing literature. However, it is unclear whether and how thinking and research about international marketing capabilities differs from that of marketing capabilities in a domestic market context. To explore this question, the authors conduct a review of studies of marketing capabilities in the most influential journals publishing research in international marketing. They supplement this with insights from interviews with executives in firms engaged to varying degrees in international marketing. The study suggests that there remain numerous important unanswered questions in conceptualizing and empirically researching international marketing capabilities.

Junk Food Marketing on Instagram: Content Analysis.

Abstract: Background: Omnipresent marketing of processed foods is a key driver of dietary choices and brand loyalty. Market data indicate a shift in food marketing expenditures to digital media, including social media. These platforms have greater potential to influence young people, given their unique peer-to-peer transmission and youths’ susceptibility to social pressures. Objective: The aim of this study was to investigate the frequency of images and videos posted by the most popular, energy-dense, nutrient-poor food and beverage brands on Instagram and the marketing strategies used in these images, including any healthy choice claims. Methods: A content analysis of 15 accounts was conducted, using 12 months of Instagram posts from March 15, 2015, to March 15, 2016. A pre-established hierarchical coding guide was used to identify the primary marketing strategy of each post. Results: Each brand used 6 to 11 different marketing strategies in their Instagram accounts; however, they often adhered to an overall theme such as athleticism or relatable consumers. There was a high level of branding, although not necessarily product information on all accounts, and there were very few health claims. Conclusions: Brands are using social media platforms such as Instagram to market their products to a growing number of consumers, using a high frequency of targeted and curated posts that manipulate consumer emotions rather than present information about their products. Policy action is needed that better reflects the current media environment. Public health bodies also need to engage with emerging media platforms and develop compelling social counter-marketing campaigns.

Orientations and capabilities of born global firms from emerging markets

Abstract: The purpose of this paper is to examine the impact of entrepreneurial orientation and networking capabilities of born global firms in an emerging market on marketing strategy and foreign market performance.,Structural equation modeling was used to analyze data from 1,001 internationalized firms in an emerging market and to test seven hypotheses regarding the development of marketing strategy and foreign market performance.,Marketing strategy was found to mediate the relationship between entrepreneurial orientation and networking capability and foreign market performance, while foreign market performance is affected by entrepreneurial orientation and marketing strategy.,Research on emerging market multinationals can be merged with that of born globals to augment our understanding of how early internationalizers from emerging markets perform in foreign markets.,This study is among the few focusing on born globals in emerging markets, which face the difficulties of newness and limited resources, as well as characteristics of emerging markets, such as institutional voids.

Planning and implementing an effective omnichannel marketing program

Abstract: The purpose of this paper is to analyze differences between multichannel and omnichannel marketing, describe the advantages of omnichannel marketing and explain how retailers can best transition from multichannel marketing to omnichannel marketing.,The paper’s findings are based on a systemic review of the literature of academic studies, research-based studies by major consulting firms and case study reports of effective omnichannel retailers. The approach used is managerial and strategic.,Four stages are identified between a pure multichannel and a pure omnichannel marketing strategy. This multistage approach enables a firm to determine its current position, to view the gaps in its strategy in moving to the next level and to develop appropriate actions to move to the next higher level. This paper also identifies barriers to a firm implementing an omnichannel marketing strategy and describes how these barriers can be overcome.,This paper describes the advantages associated with omnichannel marketing and discusses a strategy to transition to omnichannel marketing. Barriers to adopting omnichannel marketing and how they can be overcome are analyzed.,This study makes a number of contributions to the literature on omnichannel marketing. It sets forth specific criteria for firms to determine their present stage on the multichannel marketing to omnichannel marketing hierarchy. This strategic approach provides firms with a roadmap to planning and implementing an omnichannel marketing orientation. The paper concludes with directions for future research and managerial implications and conclusions.

Toward a 'masstige' theory and strategy for marketing

Abstract: The term 'Masstige' stands for mass prestige. Masstige marketing is a strategic phenomenon with the goal of market penetration and brand management in the era of globalisation. The main purpose of this paper is to contribute towards the development of the masstige marketing theory to explain the brand management phenomenon of high value/premium/moderately highly priced (but attainable) brands with a new theoretical model - focused on product, promotion and place strategies, keeping prices constant. Besides, we assess and contrast the effectiveness of marketing strategy of foreign and domestic car brands in the USA using Masstige Mean Index (MMI) developed by Paul (2015). This study is based on the survey data of owners of Japanese and American car brands. It was found that brands can create higher mass prestige value in a foreign country if they follow masstige marketing strategy. The study shows how MMI may facilitate masstige score estimates, allowing comparisons and aiding brands in devising strategies.

Pathways to Profits: The Impact of Marketing vs. Finance Skills on Business Performance

Abstract: This paper examines the impact of improvements in marketing skills relative to finance skills among small-scale entrepreneurs. It addresses three important questions: (1) What is the impact of marketing or finance skills on business profits? (2) How do improvements in marketing and finance skills respectively affect different business outcomes? (3) When are increases in marketing relative to finance skills more beneficial? Through a randomized control study of 852 firms in South Africa, the analysis finds significant improvements in profitability from both types of business skills training. However, the pathways to achieve these gains differ substantially between the two groups. The marketing group achieves greater profits by adopting a growth focus on higher sales, greater investments in stock and materials, and hiring more employees. The finance group achieves similar profit gains but through an efficiency focus on lower costs. Both groups show significantly higher adoption of business practices related...

When Does Market Share Matter? New Empirical Generalizations from a Meta-Analysis of the Market Share–Performance Relationship

Abstract: The impact of market share on financial firm performance is one of the most widely studied relationships in marketing strategy research. However, since the meta-analysis by Szymanski, Bharadwaj, and Varadarajan (1993), substantial environmental (e.g., digitization) and methodological (e.g., accounting for endogeneity) developments have occurred. The current work presents an updated and extended meta-analysis based on all available 863 elasticities drawn from 89 studies and provides the following new empirical generalizations: (1) The average raw market share–financial performance elasticity is .132, which is substantially lower than the effectiveness of other intermediate marketing metrics. This result challenges a widely used strategy that solely focuses on increasing market share. (2) Elasticities differ significantly between contextual settings. For example, they are lower for business-to-business firms than for business-to-consumer firms, for service firms than for manufacturing firms, and for...

When marketing strategy meets culture: the role of culture in product evaluations

Abstract: This research investigates how national culture interacts with marketing strategy to influence consumers’ organic post-consumption satisfaction ratings of entertainment products rich in cultural content. Drawing upon a communication theory framework, we develop hypotheses concerning multiple interaction effects between culture and marketing strategies on consumers’ product evaluations. We test these hypotheses by analyzing consumer reviews of 260 movies in 25 country markets. In support of our hypotheses, we find that the cultural congruence between the product and the market improves consumer reviews, and that the effect is stronger in cultures characterized by collectivism, femininity, and uncertainty avoidance, as well as for products more heavily loaded with cultural content. In addition, we find that the negative effect of delay in product launch timing weakens for cultures characterized by long-term orientation, and that the positive effect of advertising spending on consumer evaluations is stronger in cultures characterized by high power distance belief. These results provide practical insights into how managers should make decisions concerning product design, launch timing, and advertising strategies in international markets.

Business cycle research in marketing: a review and research agenda

Abstract: Business cycles (BCs) may affect entire markets, and significantly alter many firms’ marketing activities and performance. Even though managers cannot prevent BCs from occurring, marketing research over the last 15 years has provided growing evidence that their impact on consumers, and hence on firm and brand performance, depends to a large extent on how firms adjust their marketing mix in response to these macro-economic swings. In this study, we review the growing marketing literature on how to attenuate or amplify the impact of BC fluctuations. Our discussion focuses on three key aspects: (1) the scope of, and insights from, existing BC research in marketing, (2) advancements in the methods to study various BC phenomena in marketing, and (3) some emerging trends that offer new challenges and opportunities for future BC research in marketing.

Friends with Benefits: Social Coupons as a Strategy to Enhance Customers’ Social Empowerment

Abstract: Businesses often seek to leverage customers’ social networks to acquire new customers and stimulate word-of-mouth recommendations. While customers make brand recommendations for various reasons (e.g., incentives, reputation enhancement), they are also motivated by a desire for social empowerment—to feel an impact on others. In several multi-method studies, we show that facilitating sharing of social coupons (i.e., coupon sets that include one for self-use and one to be shared) is a unique marketing strategy that facilitates social empowerment. Firms benefit from social coupons because customers who share spend more and report greater purchase intentions than those who do not. Furthermore, we demonstrate that social coupons are most effective when the sharer’s brand relationship is new versus established. For customers with an established relationship, sharing with a receiver who also has an established relationship maximizes potential impact. Together, these studies connect social empowerment to relationship marketing and provide guidance to managers targeting social coupons.

Is corporate social responsibility pursuing pristine business goals for sustainable development

Abstract: There is a continuing academic debate on corporate social responsibility (CSR), its goals and practices, and its impact on business and society. Following this debate, this study has made a critical investigation of CSR practices of business enterprises with a view to examining their spirit, intentions and roles in terms of pristine business goals. After analyzing the contents of pertinent literature (126 articles, of which 89 are empirical) in both developed and developing country contexts, the study finds that corporate managers are still less concerned about the meaning and essence of pristine business goals and the true goals and role of CSR. They practice CSR largely in a voluntary philanthropic fashion to build public image and primarily enhance business profit, not necessarily for social wellbeing. Their CSR practices have been found to be more of a cosmetic and face‐saving marketing strategy, undermining the social wellbeing goal for sustainable development. The CSR movement, therefore, needs reformation.

Does sustainability marketing strategy achieve payback profits? A signaling theory perspective

Abstract: Despite the importance of sustainability marketing strategy, its influence on firm performance is still inconclusive. In this study, we explore how and under what conditions sustainability marketing strategy influences firm performance by including the customer as an external stakeholder. Drawing on signaling theory, we test the hypothesized relationships using survey data collected from 264 Chinese firms. The results reveal that customer loyalty partially mediates the relationship between sustainability marketing strategy and firm performance. In addition, our findings indicate that competitive intensity positively moderates the relationship between sustainability marketing strategy and customer loyalty, and the mediating effect of customer loyalty. However, customer trust negatively moderates the relationship between sustainability marketing strategy and customer loyalty, while its moderated mediation is not significant. This study contributes to sustainability marketing literature and practice by providing novel insights into how to enhance firm performance by developing sustainability marketing strategy.

Overcoming skepticism toward cause-related marketing claims: the role of consumers’ attributions and a temporary state of skepticism

Abstract: This paper aims to clarify a situational factor that might interfere with the intended outcome of a cause-related marketing (CRM) ad on social network sites (SNSs): statements about the motivation of the sponsoring company for supporting a social cause This study also aims to explore how highly skeptical consumers and consumers with lower levels of skepticism differ in their responses to CRM ads,In Study 1, a total of 409 college students took part in an online experiment through Qualtrics The online experiment followed a 2 (statement of motivations: both of firm and public benefits vs public benefit only) × 2 (skepticism: high vs low) between-subjects design Skepticism was determined post hoc as a two-category variable to analyze its effect on the relationship between the statement of motivations and attribution In Study 2, a total of 533 adults took part in an online experiment Multigroup analysis was used to test the hypotheses,This study found that firm’s acknowledgments of firm-serving motivation, as well as of public-serving motivation, could be an effective marketing strategy to reduce consumer skepticism about the firm’s motives The procedure by which a consumer perceived and evaluated the motives of a company determined the effectiveness of the company’s CRM ads Temporary state of skepticism induced by an attributional thinking process is found to play a significant role in diminishing perceived corporate credibility Finally, a consumer’s perception of a company’s credibility has a great impact on their intention to join that company’s brand page,This study advances theories about consumers’ defensive mechanisms that can help predict their favorable responses to the brand pages featuring CRM on SNSs,This study extends previous literature by directing academic attention to consumers’ perceived attribution as a theoretical mechanism that can help predict consumers’ favorable responses to brand pages featuring CRM on SNSs This study also extends previous research on skepticism by showing that consumer skepticism can be either an enduring trait or a temporary state The findings suggest that marketers may be able to inhibit the development of consumer skepticism by publicly stating the potential firm-serving benefits of its actions

Market Segmentation, Targeting and Positioning

Abstract: Businesses may not be in a position to satisfy all of their customers, every time. It may prove difficult to meet the exact requirements of each individual customer. People do not have identical preferences, so rarely does one product completely satisfy everyone. Many companies may usually adopt a strategy that is known as target marketing. This strategy involves dividing the market into segments and developing products or services to these segments. A target marketing strategy is focused on the customers’ needs and wants. Hence, a prerequisite for the development of this customer-centric strategy is the specification of the target markets that the companies will attempt to serve. The marketing managers who may consider using target marketing will usually break the market down into groups and to target the most profitable segments. They may adapt their marketing mix elements, including; products, prices, channels, and promotional tactics to suit the requirements of individual consumers. In sum, this chapter explains the three stages of target marketing, including; market segmentation (ii) market targeting and (iii) market positioning.

Social Media Strategies in Product-Harm Crises

Abstract: When a focal firm undergoes a product-harm crisis, nonfocal firms offering similar products or services can suffer from a negative spillover effect, but can also benefit from customers switching from the troubled focal firm, which we call the competitive effect. In response, a nonfocal firm can adapt its marketing strategy in consideration of these two opposing effects. Because social media is a flexible medium through which firms can quickly adjust marketing strategies in response to such unexpected events, we study how nonfocal firms adjust their post-crisis social media efforts to induce purchases and to improve customer relationships-two strategies known in the literature as offensive and defensive marketing, respectively. In particular, we use the daily social media activities of 56 major airlines on Twitter around the time of the Germanwings Flight 9525 crash to study how nonfocal airlines ran offensive and defensive marketing on social media before and after the crisis. We find that, on average, nonfocal airlines increased their defensive marketing efforts but decreased their offensive marketing efforts after the crash, which we attribute to the negative spillover effect. However, the strategic adjustment of decreasing offensive marketing is attenuated by the competition between nonfocal airlines and the focal one, which we attribute to the moderating role of the competitive effect. These results are shown to be robust in various tests and reveal how the interplay of the two effects of a product-harm crisis on nonfocal firms shapes their postcrisis social media strategies. The online appendix is available at https://doi.org/10.1287/isre.2017.0707 .

The Relative Influence of Economic and Relational Direct Marketing Communications on Buying Behavior in Business-to-Business Markets

Abstract: Business-to-business firms spend significant resources in direct marketing to manage close relationships with their customers. Nevertheless, there is limited understanding of how the effectiveness of direct marketing communications varies by value propositions. Typically, direct marketing efforts are geared toward explicitly featuring economic or relational values. To implement an effective communication strategy catering to customers’ preferences, firms should understand how customers consistently evaluate these organizational marketing communications, which ultimately affect their buying behaviors. Therefore, the authors analyze marketing messages and employ content analysis to capture the two distinct types of direct marketing communications. Using data from a Fortune 500 business-to-business service firm and a robust econometric model, they find that the (1) effects of economic and relational marketing communication on customer purchase behaviors interplay and vary over time, (2) latent stock ...

Cause marketing and customer profitability

Abstract: This research marks the first attempt to investigate the cause marketing–customer profitability relationship, and to assess whether features can moderate the influence of cause marketing (CM) on customer profitability for a focal brand and its main rival. We obtain a panel dataset on 7257 customers to evaluate the Yoplait–Susan G. Komen partnership. On a propensity score matched sample, we estimate a multilevel model and find that Yoplait’s CM initiative positively influences Yoplait’s customer profitability (2.70%), along with a deleterious effect on Dannon’s customer profitability (−13.31%). These findings are theoretically meaningful and pragmatically useful as they: (1) provide behavioral evidence of CM’s profit impact, (2) establish CM as an “offensive” strategy that cultivates the rival’s customers, (3) suggest features can amplify the effect of CM on the focal brand’s customer profitability, and (4) support that managers can add CM to their strategic marketing arsenal as an instrument to strengthen brand equity.

Innovativeness in food small business: What is its relationship with marketing?

Abstract: Small businesses often do not have a sufficient capacity to put the appropriate r&D activities into action. never- theless, they are able to be innovative towards their products, processes, distribution channels, and geographical markets. Therefore, even for small and medium-sized enterprises (SMEs), the level of innovativeness can be high. The literature shows that the firm marketing capabilities are very important for innovation in the food industry, to guarantee that innova - tion reflects the market needs. The purpose of this paper is to analyse the relationship between the level of firm innovative - ness and different steps of the marketing management process, to understand if good marketing capabilities can affect the firm innovativeness. An interactive questionnaire available on the web was used for the data collection. The survey was conducted on 468 European SMEs. Linear regression was run to assess the link between marketing activities and the level of firm innovativeness. our empirical analysis reveals that the SME marketing capabilities show significant and positive relationships with firm innovativeness.

Conceptualising On-Screen Tourism Destination Development

Abstract: This article integrates cultural theory and marketing strategy to examine the complex relationship between on-screen popular culture and tourism destination place-making. Its review of the literature results in the development of an interdisciplinary conceptual framework (termed ‘on-screen dollying’) that provides a culturally grounded and contextually driven theorisation of the means by which on-screen popular culture place-making can foster destination development. In developing the conceptual framework, the article classifies the characteristics of on-screen tourism affecting destination development and identifies six strategies for leveraging on-screen tourism. Based on our interdisciplinary analysis, we propose a research agenda that integrates on-screen tourism and destination place-making and which has implications for policy and theory.

Criteria evaluation for pricing decisions in strategic marketing management using an intuitionistic cognitive map approach

Abstract: Marketing decisions are challenging in profit-oriented companies because of their complex nature. Many factors influence the marketing strategy in the new product development (NPD) process. With this aspect, strategic marketing decisions for launching a product to the market can be observed as multiple criteria decision-making (MCDM) problems. This study proposes a novel approach called intuitionistic cognitive map (ICM), for assessing the criteria that influence the pricing strategy of a company in earlier stages of the product’s life cycle in the market. A framework is formed based on a profound analysis of literature and experts’ opinions, in terms of criteria affecting pricing strategy and the causal relationships between them. Intuitionistic fuzzy sets and cognitive mapping are used together to capture the hesitation of the decision makers caused by lack of information and to define cause-and-effect relations between the criteria to represent the complexity of strategic marketing decisions. Contrary to conventional MCDM methods that require complete data, ICM method is able to deal with lack of information and hesitancy of the decision makers. In addition, ICM method has a new feature called “the coefficient of synergy” incorporating the synergy effect of the application field in the model. The case study is conducted in a technological-device-manufacturing company. Seventeen factors that influence the company’s pricing decisions are determined and evaluated with three marketing experts, and in the numerical application, brand image, market share, consumer fidelity, market/segment size, and new product capability criteria had the maximum positive influence on pricing decisions.

Virtual Reality: An Innovative Tool in Destinations’ Marketing

Abstract: Virtual reality (VR) is a fast-developing technology with a broad range of use. The tourism industry, more specifically destinations, may benefit from its potential in the near future. By using VR in its marketing strategy, destinations have a substantial influence on the information search process and the decision-making process of potential tourists. Tourists can experience the destination, its atmosphere and possible emotions beforehand. Thus, they can create a more detailed destination image and realistic expectations of their visit. This transfers them into a better position to decide whether or not to visit a destination. This experimental study takes a closer look into a destination’s promotional material by analysing and comparing a self-designed brochure with an existing VR video of the city of Dubrovnik, Croatia. A total of 101 experiments were conducted at Fachhochschule Salzburg and UniparkNonntal. The research shows that VR transforms the information search experience into a faster, more interactive, and more detailed process compared to traditional promotional material. The results can be beneficial for destinations to understand how relevant using VR for tourism promotion is. The Gaze: Journal of Tourism and Hospitality Vol.9 2018 p.53-68

Marketing activity in the community pharmacy sector - A scoping review.

Abstract: Background Community pharmacy ownership requires engaging with marketing strategies to influence consumer behaviour. There is a plethora of information from trade journals, expert opinion, and published discussion surrounding this issue. Despite this, evidence relating to the efficacy of marketing activity within the pharmacy sector is scant. Objectives To review how marketing activity has been conceptualised in the community pharmacy sector and to determine the evidence for the effect of marketing activity. Methods Seven databases were systematically searched using a scoping review framework with the reporting protocol of PRISMA-P. The search yielded 33 studies that were analysed for year of publication, journal, country of focus, and framework of marketing. Results The majority of marketing research papers focused on the United States and were published in healthcare journals. These were various marketing strategy elements, including; segmentation, targeting, differentiation, and positioning. Also evident was research regarding marketing mix, which predominately involved the “4Ps” model. Actual marketing activity comprised little of the research. Conclusions Research into marketing activity in community pharmacy is limited, and little evidence is available to show the effects of such activities. Future research needs to demonstrate the causality for the effect of marketing activities on consumer behaviour and economic outcomes.

Art as strategic branding tool for luxury fashion brands

Abstract: This study aims to understand the lasting relationship between luxury fashion and art. The purpose of the paper is to explore whether the application of art, the cooperation with artists, the implementation of experiential strategies focusing on retail spaces and shows embedded in the strategic concept of a luxury brand lead to a competitive advantage and to a sustained value creation for luxury brands.,Based on the literature, the strategic role of art and the importance of experiential marketing for the value creation of European luxury fashion brands was explored through empirical data collection, consisting of 26 semi-structured in-depth interviews. The gained data have been analysed through a thematic analysis approach and triangulated to avoid bias.,The exploratory study revealed that when art is applied as a strategic tool, it is of relevance to achieve an authentic fit to the brand. When integrating art consistently and authentically within the whole value chain system, it leads to a higher brand equity.,The paper provides a guide for both academics and marketers as theoretical frameworks are examined, analysed and future recommendations are given, which are suited to be applied within the brand management principles.,The outcome contributes to a wider delineation regarding the future of luxury brands. The study reveals novel viewpoints concerning the integration of arts in luxury brand marketing and adds to existing literature.

Business Model Canvas as a Solution for Competing Strategy of Small Business in Indonesia

Abstract: The development of small and medium enterprises in Indonesia is increasing, in addition by the support provided by the government as well as the universities which involve in supporting entrepreneurship whole fully. This particular Small Business can stand even in a crisis and critical situation compare to the big companies. Meanwhile, as the number of Small Business with the same business type increases, the competition will be even tighter and it can cause loss and bankruptcy. In order to face the competition, a strategy is needed in facing the competitor. The strategy is using business model canvas. Yet, before using business model canvas, the Small Business must be able to recognize its position in the marketing strategy, either as a market leader or market follower. Once they found their position in the market, they should prepare a marketing mix, which is a standard strategy that is necessarily a business should have. This particular study is conducted based on library review, observation and interview with several Small Businesses. The business owners expect to have a strategy in facing the tight competition.