Showing papers on "Marketing strategy published in 2020"

How artificial intelligence will change the future of marketing

Abstract: In the future, artificial intelligence (AI) is likely to substantially change both marketing strategies and customer behaviors. Building from not only extant research but also extensive interactions with practice, the authors propose a multidimensional framework for understanding the impact of AI involving intelligence levels, task types, and whether AI is embedded in a robot. Prior research typically addresses a subset of these dimensions; this paper integrates all three into a single framework. Next, the authors propose a research agenda that addresses not only how marketing strategies and customer behaviors will change in the future, but also highlights important policy questions relating to privacy, bias and ethics. Finally, the authors suggest AI will be more effective if it augments (rather than replaces) human managers.

The Role of Trust in Understanding the Impact of Social Media Marketing on Brand Equity and Brand Loyalty

Abstract: In this era, social media platform is integrated into the marketing strategy. This new technology sets out new mechanisms and communication tools that companies can rely on to interact and engage w...

Augmented reality marketing: A technology-enabled approach to situated customer experience

Abstract: Recent advances in Augmented Reality (AR) technologies have led to a growing interest in their application for marketing strategy and practice – what we term Augmented Reality Marketing (ARM). However, despite emerging publications on the subject, managers and academics struggle to articulate how ARM delivers experiences that are valuable to customers in a way that is different from other marketing approaches. In this article, we review the emerging literature, and define ARM as a customer-facing interface for the application of digital marketing technologies in physical settings. Rooted in a class of ‘situated cognition’ theories from social psychology, we identify a unique set of digital affordances which ARM offers beyond extant marketing approaches in traditional media. By drawing on the key conceptual building blocks of situated cognition theory, we develop a framework of ARM experiences to synthesize current research and applications, and to suggest directions for future research.

Learning from the Dark Web: leveraging conversational agents in the era of hyper-privacy to enhance marketing

Abstract: The Web is a constantly evolving, complex system, with important implications for both marketers and consumers. In this paper, we contend that over the next five to ten years society will see a shift in the nature of the Web, as consumers, firms and regulators become increasingly concerned about privacy. In particular, we predict that, as a result of this privacy-focus, various information sharing and protection practices currently found on the Dark Web will be increasingly adapted in the overall Web, and in the process, firms will lose much of their ability to fuel a modern marketing machinery that relies on abundant, rich, and timely consumer data. In this type of controlled information-sharing environment, we foresee the emersion of two distinct types of consumers: (1) those generally willing to share their information with marketers (Buffs), and (2) those who generally deny access to their personal information (Ghosts). We argue that one way marketers can navigate this new environment is by effectively designing and deploying conversational agents (CAs), often referred to as “chatbots.” In particular, we propose that CAs may be used to understand and engage both types of consumers, while providing personalization, and serving both as a form of differentiation and as an important strategic asset for the firm—one capable of eliciting self-disclosure of otherwise private consumer information.

Refining the relation between cause-related marketing and consumers purchase intentions: A cross-country analysis

Abstract: Cause-related marketing (CRM) is an ever growing marketing strategy developed by companies that may result in a win-win-win strategy for business, non-profit organizations and society. However, the specific relationship between CRM and consumers purchase intentions (PI) has been analyzed in a fragmented way within the mainstream literature. Grounding on this, the purpose of this paper is to give a more comprehensive and fine grained view of this phenomenon, testing the effect of several moderators on the relationships between CRM and consumers PI in two different countries.,The sample consists of 234 Italian (individualistic culture) and 164 Brazilian (collectivist culture) consumers surveyed online. Ordinary least squares analysis has been carried out in order to test the moderator effects hypothesized.,Regarding Italian respondents, the author found positive evidence for moderator effects of the perception of CRM goal achievement (GA), brand-fit (BF) and gender. On the contrary, the author did not find a significant moderator effect of brand-use, while the author found it significant but negative for Brazilian respondents. Moreover, the author found that the perception of CRM GA does not moderate the aforementioned relationship for Brazilians while BF and gender still have positive effects.,A more fine grained picture of the CRM–PI relationships have been provided through the empirical test of several moderators, finding different effects in individualistic (Italians) and collectivist culture (Brazilians), thus deriving interesting implications in the international marketing field of research.

Business-to-business marketing responses to COVID-19 crisis: a business process perspective

Abstract: This study aims to identify appropriate strategies and actions adopted by business-to-business firms to cope with the ongoing COVID-19 crisis.,A review of business-to-business marketing responses to the COVID-19 crisis in China was conducted.,Nine marketing responses built on core business processes were classified into three categories: (1) embedded in product development management process (stretching product lines to meet urgent needs, expanding product lines to meet urgent needs and adjusting products proactively for emerging needs), (2) built on supply chain management process (coordinating suppliers to meet surging demand, migrating to digital distribution channels and solidarity with supply chain members) and (3) related to customer relationship management process (investing in advertising and promotion, cross-selling to existing customers and supporting customers).,This study contributes to the literature of marketing responses to COVID-19 by examining the cash flows effects of various marketing responses. It also contributes to the business processes based on marketing strategy framework by extending it to the crisis management context. In addition, it provides five practical suggestions for business-to-business firms to cope with the COVID-19 crisis.

Customer Behavior as an Outcome of Social Media Marketing: The Role of Social Media Marketing Activity and Customer Experience

Abstract: Social media has been playing an important role in marketing strategy. As a part of social media, social networking sites (SNS) can be utilized by enterprises to create direct communication and good relationships with their customers. Therefore, enterprises using SNS have to select the right marketing content to enhance strong customer relationships, which lead to their behavior generating sustainable performance for enterprises. This research considered social media marketing activity (SMMA) and Customer Experience (CX) to measure the customer’s relationship quality, which can impact customer behavioral outcomes, which are purchase intention, loyalty intention, and participation intention. The 413 online questionnaire surveys were measured and analyzed using SmartPLS 3. The results show that SMMA and CX have a significant influence on the customer relationship quality, which also leads to a positive impact on customer behavioral outcomes. This research guides enterprises that SNS’s marketing content has to follow SMMA and CX dimensions to achieve the marketing objective and generate sustainable performance for enterprises.

Marketing in the Era of COVID-19

Abstract: We discuss the effects of COVID-19 on consumer behaviour and elaborate on the consequences of this disruption for marketing strategies and marketing policies. The crisis shows similarities with changes in consumer behaviour and the way marketing is carried out during economic downturns. However, it also displays characteristics which differ from downcycles, such as shifts in consumption between categories and the accelerated shift from offline to online behaviour. This is forced by the re-evaluation of life priorities by final consumers.

Trade-in-to-upgrade as a marketing strategy in disassembly-to-order systems at the edge of blockchain technology

Abstract: Growing environmental awareness and widening extended producer responsibility have heightened the need for economically, environmentally, and socially sustainable business strategies levered by dig...

Antecedents, consequences, and reducers of perceived risk in social media: A systematic literature review and directions for further research

Abstract: The social media has become an integral part of the marketing strategy. Marketing activities are now more inclined to online social networks (OSNs) than ever before in the history of the business. More and more consumers are joining OSNs for the sake of fun, socialization, and online buying. Every user perceives some degree of risk while joining and using OSNs. The current systematic literature review gathers and synthesizes research records of the last 9 years (2010–18) on consumer perceived risks concerning OSNs. We used PRISMA as a protocol to conduct this systematic literature review. The synthesis provides a detailed account of the perceived risk factors, their antecedents and consequences, risk-reducing strategies, and future research potential in the said domain.

Engaging Restaurant Customers on Facebook: The Power of Belongingness Appeals on Social Media:

Abstract: The hospitality and tourism industries now acknowledge that engaging with customers via social media is an essential element of marketing strategy. Given the high variability of success with which ...

Think with me, or think for me? On the future role of artificial intelligence in marketing strategy formulation

Abstract: This paper explores if and how Artificial Intelligence can contribute to marketing strategy formulation.,Qualitative research based on exploratory in-depth interviews with industry experts currently working with artificial intelligence tools.,Key themes include: (1) Importance of AI in strategic marketing decision management; (2) Presence of AI in strategic decision management; (3) Role of AI in strategic decision management; (4) Importance of business culture for the use of AI; (5) Impact of AI on the business’ organizational model. A key consideration is a “creative-possibility perspective,” highlighting the future potential to use AI not only for rational but also for creative thinking purposes.,This work is focused only on strategy creation as a deliberate process. For this, AI can be used as an effective response to the external contingencies of high volumes of data and uncertain environmental conditions, as well as being an effective response to the external contingencies of limited managerial cognition. A key future consideration is a “creative-possibility perspective.”,A practical extension of the Gartner Analytics Ascendancy Model (Maoz, 2013).,This paper aims to contribute knowledge relating to the role of AI in marketing strategy formulation and explores the potential avenues for future use of AI in the strategic marketing process. This is explored through the lens of contingency theory, and additionally, findings are expressed using the Gartner analytics ascendancy model.

Penerapan Digital marketing Sebagai Strategi Pemasaran UMKM

Abstract: The Community Service Partner in this activity is Rapi Sari Furniture which engages in the business of producing and buying furniture items. Rapi Sari Meubel is one of the SMEs that has been very long established in the city of Banjarmasin, which is more than 30 years. However, the marketing activities are still very minimal and still conventional. For this reason, training needs to be given on the importance of using digital marketing so that the marketing system can be better, to expand the scope of its business targets and to support better sales activities. In addition, partners are also given assistance in creating accounts in digital media (Google Business and Google) along with how to optimally manage digital media for the promotion of MSME business needs. The resulting outputs are in the form of Google business and Google accounts, scientific articles published in national journals, and activity reports. The method used in thisis activity by provide training in the form of lectures and giving tutorials / practices directly creating accounts in digital media for the MSME.

Blurring lines between fiction and reality: Perspectives of experts on marketing effectiveness of virtual influencers

Abstract: Virtual influencers are computer generated human avatars with a wide following on social media. Luxury brands such as Louis Vuitton and Prada are increasingly partnering with them to promote their new line of products. Lil Miquela, the most popular virtual influencer, has 1.7 million followers on Instagram. She is fictional, recognizes herself as a robot, but displays human emotions through her posts and interactions with her followers. Generally, research suggests that virtual influencers offer novelty but may lack authenticity and reliability like human social influencers. Despite increased recent media attention on the topic, to our knowledge, there is no empirical research on the effectiveness of using virtual influencers as a marketing gimmick. Due to lack of literature in the field, we chose an exploratory qualitative design to explore the advantages and disadvantages of using fictional characters as a marketing strategy. We administered semi-structured interviews with six experts in the field of digital media. Thematic analysis was utilized to explore repetitive patterns in their opinions and suggestions. The respondents primarily highlighted potential challenges of using virtual influencers, identified factors which may make them successful as a marketing strategy, and compared the appeal of humanized versus animated virtual influencers.

Improving Consumption and Purchases of Healthier Foods in Retail Environments: A Systematic Review.

Abstract: This review examines current research on manipulations of U.S. food retail environments to promote healthier food purchasing and consumption. Studies reviewed use marketing strategies defined as the 4Ps (product, price, placement, promotion) to examine results based on single- and multi-component interventions by study design, outcome, and which of the "Ps" was targeted. Nine electronic databases were searched for publications from 2010 to 2019, followed by forward and backward searches. Studies were included if the intervention was initiated by a researcher or retailer, conducted in-store, and manipulated the retail environment. Of the unique 596 studies initially identified, 64 studies met inclusion criteria. Findings show that 56 studies had at least one positive effect related to healthier food consumption or purchasing. Thirty studies used single-component interventions, while 34 were multi-component. Promotion was the most commonly utilized marketing strategy, while manipulating promotion, placement, and product was the most common for multi-component interventions. Only 14 of the 64 studies were experimental and included objective outcome data. Future research should emphasize rigorous designs and objective outcomes. Research is also needed to understand individual and additive effects of multi-component interventions on sales outcomes, substitution effects of healthy food purchases, and sustainability of impacts.

Corporate social responsibility on customer behaviour: the mediating role of corporate image and customer satisfaction

Abstract: Corporate social responsibility (CSR) plays an important role in corporate profits, corporate reputation, and consumer attitudes; it has been identified as a critical marketing strategy for enterpr...

Addressing Marketing Bias in Product Recommendations

Abstract: Modern collaborative filtering algorithms seek to provide personalized product recommendations by uncovering patterns in consumer-product interactions. However, these interactions can be biased by how the product is marketed, for example due to the selection of a particular human model in a product image. These correlations may result in the underrepresentation of particular niche markets in the interaction data; for example, a female user who would potentially like motorcycle products may be less likely to interact with them if they are promoted using stereotypically 'male' images. In this paper, we first investigate this correlation between users' interaction feedback and products' marketing images on two real-world e-commerce datasets. We further examine the response of several standard collaborative filtering algorithms to the distribution of consumer-product market segments in the input interaction data, revealing that marketing strategy can be a source of bias for modern recommender systems. In order to protect recommendation performance on underrepresented market segments, we develop a framework to address this potential marketing bias. Quantitative results demonstrate that the proposed approach significantly improves the recommendation fairness across different market segments, with a negligible loss (or better) recommendation accuracy.

Content marketing capability building: a conceptual framework

Abstract: The purpose of this study is to develop a conceptual framework that identifies engaging CM practices, specifically how compelling content is created. Content marketing (CM) is fast becoming a key pillar in a company's marketing mix. It is also a requisite for companies seeking to modernise their marketing practices through digitalisation to enhance online branding. However, overlapping definitions and interchangeable terms arising from different perspectives and methodological practices confound what exactly constitutes CM. Although CM is generally accepted as sharing brand content via owned media to gain earned media, a strategic approach, based on evidence-driven research, is needed to navigate through the overwhelming confusion so that companies can better plan and implement CM.,This paper addresses the scarcity of work with regard to CM practices in Asia. To address this research gap, the study examines content creation practices of five successful companies, based in Singapore, through case studies, interviews and content analyses, to propose a CM capability development framework.,The findings point to the need for content creation to align with brand values and value creation to create and socialise compelling content for positive impact. Content created for audiences and marketed by brands can generate value when it is consumed and shared. The paper also provided much needed clarity in terms of how CM capability can be gained to minimise costly trial and error.,The study is limited to companies operating in Asia. The framework will require implementation in other regions. Another limitation of the study was that it did not extend to how consumers responded to CM posts. This is an area for further research that can help validate the proposed framework.,The analytical framework adopted in this study can also be used as a functional CM model for marketing managers to construct better CM strategies and informed standards of practice by growing capabilities.,CM is also a requisite for companies seeking to modernise their marketing practices through digitalisation to enhance online branding, particularly for small- and medium-sized companies.,This paper addresses the scarcity of work with regard to CM practices in Asia.

Entrepreneurial marketing strategy, institutional environment, and business performance of SMEs in Egypt

Abstract: The purpose of this research paper is to study the relationship between entrepreneurial marketing strategy (EMS), institutional environment (IE) and business performance (BP). Further, it examines the role of gender and entrepreneurial experience (EE) as moderators of EMS-BP and IE-BP relationships.,Based on the literature review, the authors proposed a conceptual model that was tested using a quantitative approach. Questionnaires were filled by 202 owners/entrepreneurs of small- and medium-sized enterprises (SMEs) in Egypt. Because of the absence of a formal population-frame for the Egyptian SMEs, non-probability quota sampling technique was used that considered differences in gender and EE. SmartPLS software was used for data analysis.,The results indicated that EMS has significant positive effect on BP. IE has significant positive effect on EMS but insignificant effect on BP. Gender was found to be moderating significantly both the EMS-BP and IE-BP relationships. However, EE was found to be an insignificant moderator in the EMS-BP relationship.,The findings communicate insights to the SMEs on the importance of undertaking proactive, risk-taking and innovative activities while creating and delivering value to their customers. Also, it encapsulates further implications for policymakers to promote a better IE for entrepreneurship in Egypt.,This study contributes conceptually to the interdisciplinary research that investigated the integration between entrepreneurship and marketing as a successful functional strategy in SMEs and its effect on enhancing BP and market share. Empirically, it adds value to the available literature on contemporary strategic entrepreneurship by analysing these IE-EMS-EE-Gender-BP relationships in a promising, yet under-researched, transitional economy.

Marketing innovation: a systematic review

Abstract: This study aims to investigate the development of ‘marketing innovation’ defined as the implementation of new marketing practices involving significant changes in the design, distribution, promotio...

Attracting Green Consumers as a Basis for Creating Sustainable Marketing Strategy on the Organic Market—Relevance for Sustainable Agriculture Business Development

Abstract: The aim of this paper was to analyze the main factors that affect green consumers' choice regarding the purchase of organic agriculture products. The data collected through a survey of 559 green consumers were analyzed using explanatory factor analysis, the Relative Importance Index, and logistic regression. The results point out eleven main factors related to the offerings on the organic agriculture market that predominantly drive green consumers' purchasing decisions. The Relative Importance Index identified health benefits that stem from a specific way of production as the main purchasing motive. This was also confirmed by the results of logistic regression, which showed that a respondent who buys organic agricultural products on a daily basis is approximately 71.5% less likely to disagree with the claim that organic products are healthier than non-organic, compared to a consumer who purchases organic products several times a week or month. However, as these benefits cannot be empirically confirmed, green consumers look for official labels on the product packaging. In order to assure the product quality, more than half of them find out very important information about producers: whether they have a product quality certificate (69.5%), how many years they are engaged in production (56.2%), and whether they have specific product packaging (54.9%). The Relative Importance Index also revealed that the main purchasing barriers that consumers face are scarce offerings and an insufficient development of the distribution channel, which were ranked in first and second place. The price as a barrier is of less importance. About 30.8% of the respondents are willing to pay up to 20% higher prices for organic food compared to conventional food, while 39.4% of them would pay even up to 40% higher prices. Based on the given results, there are clear suggestions for creating a sustainable marketing strategy for organic agriculture products as the main prerequisite for an increase of healthy food choices and fostering the future development of organic agriculture businesses at the local and global levels.

Scarcity Strategy in Crowdfunding: An Empirical Exploration of Reward Limits

Abstract: Scarcity-based marketing strategy has been prevalently implemented in reward-based crowdfunding in the form of reward limits, whereby campaign creators restrict the number of backers for each rewar...