Showing papers on "Marketing strategy published in 2021"
TL;DR: A three-stage framework for strategic marketing planning, incorporating multiple artificial intelligence (AI) benefits: mechanical AI for automating repetitive marketing functions and activities, thinking AI for processing data to arrive at decisions, and feeling AI for analyzing interactions and human emotions is developed.
Abstract: The authors develop a three-stage framework for strategic marketing planning, incorporating multiple artificial intelligence (AI) benefits: mechanical AI for automating repetitive marketing functions and activities, thinking AI for processing data to arrive at decisions, and feeling AI for analyzing interactions and human emotions. This framework lays out the ways that AI can be used for marketing research, strategy (segmentation, targeting, and positioning, STP), and actions. At the marketing research stage, mechanical AI can be used for data collection, thinking AI for market analysis, and feeling AI for customer understanding. At the marketing strategy (STP) stage, mechanical AI can be used for segmentation (segment recognition), thinking AI for targeting (segment recommendation), and feeling AI for positioning (segment resonance). At the marketing action stage, mechanical AI can be used for standardization, thinking AI for personalization, and feeling AI for relationalization. We apply this framework to various areas of marketing, organized by marketing 4Ps/4Cs, to illustrate the strategic use of AI.
254 citations
TL;DR: In this article, a taxonomy of social media marketing strategies (SMMSs) is proposed, which comprises four major components, namely drivers, inputs, throughputs, and outputs.
Abstract: Although social media use is gaining increasing importance as a component of firms’ portfolio of strategies, scant research has systematically consolidated and extended knowledge on social media marketing strategies (SMMSs). To fill this research gap, we first define SMMS, using social media and marketing strategy dimensions. This is followed by a conceptualization of the developmental process of SMMSs, which comprises four major components, namely drivers, inputs, throughputs, and outputs. Next, we propose a taxonomy that classifies SMMSs into four types according to their strategic maturity level: social commerce strategy, social content strategy, social monitoring strategy, and social CRM strategy. We subsequently validate this taxonomy of SMMSs using information derived from prior empirical studies, as well with data collected from in-depth interviews and a quantitive survey among social media marketing managers. Finally, we suggest fruitful directions for future research based on input received from scholars specializing in the field.
206 citations
TL;DR: In this paper, the authors focus on four key new-age technologies (Internet of Things, Artificial Intelligence, Machine Learning, and Blockchain) and their respective roles in marketing, and examine each of these four technologies in depth, to understand their key elements, the domains in which they operate, and current use cases pertaining to these technologies.
145 citations
TL;DR: The authors investigated whether the source characteristics of an influencer (i.e., expertise, authenticity, physical attractiveness, homophily) can function as relational resources in the formation of follower trust.
96 citations
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01 Jan 2021
TL;DR: In this article, the authors used Google Data Studio for analyzing the data resulting from an online survey to gather customer information for a client, which gave their client insight that they could use to develop their content and marketing strategy to better target the customers.
Abstract: Now that we’ve covered some basics in the previous chapters, let’s see how we can use Google Data Studio for another real-world situation: analyzing the data resulting from an online survey to gather customer information for a client. This chapter is based on a real-life project that we did for a popular travel company. For a client to get an interactive analysis of their customer data without expensive visualization tools is not only cost-efficient but also incredibly useful. It gave our client insight that they could use to develop their content and marketing strategy to better target the customers.
93 citations
TL;DR: Sustainability has emerged as a critical macromarketing perspective over the last five decades as discussed by the authors, starting with the early concerns in the 1960s about the world’s finite resources that would limit eco...
Abstract: Sustainability has emerged as a critical macromarketing perspective over the last five decades. Starting with the early concerns in the 1960s about the world’s finite resources that would limit eco...
73 citations
TL;DR: In this paper, the extent to which mobile augmented reality apps can influence user attitudes and shopping behavior was investigated and found that consumers perceived the MAR app as enjoyable, useful, and contributing to the information acquisition.
72 citations
TL;DR: Wang et al. as mentioned in this paper analyzed 153 textual information sources to explore Chinese restaurant enterprises' innovative activities during and after COVID-19 and synthesized an innovative crisis management model from a micro-level perspective by adopting the life cycle model to dynamically measure the innovative strategies applied by Chinese restaurants in their emergency responses and recovery efforts.
62 citations
TL;DR: This research focuses on the association between the Big Five personality traits and m-shopping intentions of hedonic products among four generational cohorts: baby boomers and Generations X, Y, and Z.
Abstract: In retailing, it is recognized that prominent differences exist between generational cohorts. As such, analysis of varying patterns of personality traits and their effects between generations is essential for understanding consumer behaviors. This research focuses on the association between the Big Five personality traits and m-shopping intentions of hedonic products among four generational cohorts: baby boomers and Generations X, Y, and Z. Generational cohort theory, the Big Five Personality Model, and resistance to innovations theory are integrated in a theoretical framework. The research was conducted by online survey of 1241 Internet users aged 14–72. Different patterns of effects of personality traits between generations were found. For baby boomers and Generation X, a positive association between openness to experience and m-shopping intention was found. Moreover, in these generations, personality traits were more powerful in predicting m-shopping intention, compared to younger generations. Among Generation Y, extraversion was positively correlated with m-shopping intention. Among Generation Z, a negative correlation between agreeableness and m-shopping intention was found. Based on our findings, we propose a generational approach to marketing strategy and suggest specific practical implications.
62 citations
01 Jan 2021
TL;DR: In this paper, the authors indicate that recent marketing trends indicate the rise of influencers as an extension of word of mouth campaigns, and organizations are realizing the power of influencer...
Abstract: Recent marketing trends indicate the rise of influencers as an extension of word of mouth campaigns. As consumers turn to social media platforms, organizations are realizing the power of influencer...
55 citations
TL;DR: In the last fifty years, marketing theory and practice has made significant advances toward becoming more scientific and rigorous as mentioned in this paper, and a review of significant past developments in marketing can be found in this paper.
Abstract: In the last fifty years, marketing theory and practice has made significant advances toward becoming more scientific and rigorous. This paper reviews significant past developments in marketing stra...
TL;DR: In this paper, the authors explored the impact of mobile augmented reality (AR) services on consumers' purchase behavior and brand awareness in the beauty industry and identified the different effects of the relationship among flow experience (concentration, playfulness and exploratory behavior), decision comfort and purchase intention moderated by different levels of consumer characteristics (individualism and fashion innovation).
Abstract: Due to the lack of relevant literatures on the application of mobile augmented reality (AR) service in beauty industry, the purpose of this study is to explore the impact of the mobile AR service on consumers' purchase behavior and brand awareness in beauty industry. And this study also wants to identify the different effects of the relationship among flow experience (concentration, playfulness and exploratory behavior), decision comfort and purchase intention moderated by different levels of consumer characteristics (individualism and fashion innovativeness).,This study set up a research model based on SOR model. The study used AR mobile app named “Youcam Makeup” as stimulus to do the questionnaire survey. First, the authors describe the way to use this AR mobile app and make sure each participant experience this app for about 5 min to understand AR well and finally, finished the questionnaire. SPSS and AMOS were used to do data analysis.,The results of this study showed that first, in the field of fashion and beauty makeup, compared with the ability to control or modify virtual contents – the perception of vividness, reality and aesthetics – are more relevant to consumers. Second, besides the playfulness that AR provides, AR technology can also encourage exploratory behavior in consumers, which will directly affect their intention to purchase. Finally, when using mobile AR technology, consumers with different levels of individualism or fashion innovativeness will gain different perceptions of their purchase intention.,First, the study targets millennial female consumers. The future studies can be conducted on consumers of different age groups. Second, the sampling of this study is insufficient; if it had more samples, the results would be more accurate. Finally, AR is integrated into people's lives; therefore, to not be limited to millennial consumers, demographic characteristics need to be applied to future research.,This study provides a theoretical basis for marketers to formulate marketing strategies. First of all, marketers can use this technology to provide consumers with a more vivid and specific online shopping experience. Second, technical developers can focus on developing the features of AR with the strongest consumer perception based on the results of this study. Finally, this study researched consumer traits that can deepen understanding of both emerging technologies and consumer behavior as compared to research only on mobile AR services. Marketers need to understand the characteristics of consumers when making marketing plans and expand the characteristics of AR technology corresponding to the characteristics of consumers to attract consumers with different attributes.,By using interactive technology, the brand can be closer to consumers and provide help and fun for consumers when they consume online. AR can also lead to future tool reuse behavior, thus establishing long-term relationships with consumers. More than that, AR can be used with the mobile phone, which can be used anytime and anywhere, eliminating space and time constraints. Therefore, the brand can establish cheap and extensive technology as a marketing strategy. Also, it can become one of the most common marketing tools.,This research fills the gap in the literature on mobile AR technology in the beauty industry. Such knowledge will not only facilitate the online development of brands but also help support retailers' development in the beauty industry, providing necessary capabilities for the expansion and application of this new technology. With regard to marketing strategies, the study on consumer characteristic provides the knowledge foundation for marketers to create marketing strategies, which is easier for them to formulate marketing schemes favorable to the brand for varying consumers.
TL;DR: A literature review on consumer marketing strategy for e-commerce in the last decade is presented in this article, which aims to identify research trends in the field through a systematic bibliometric literature review (LRSB).
Abstract: E-commerce is deemed as the sale and purchase of goods and services through the internet in exchange for money and data transfer to complete the transactions. E-commerce is at the forefront of transforming marketing strategies, based on new technologies, and facilitates product information and improved decision-making. In this way, marketing strategy increasingly require large amounts of information to better understand client needs, which raises the question of choosing the right marketing strategy to better fit consumer expectations. This literature review aims to shed light on both the recent growth of e-commerce literature and its interplay with consumer marketing strategy. Extant research has examined this change in human interaction due to social network building, mostly through the themes of online marketing and social media marketing, also comprehending issues such as cost efficiency, information quality and trust development towards online shopping. Nevertheless, existing research has not shown in full all the research streams, how they interact with each other and its potential knowledge development. Thus, a literature review on consumer marketing strategy for e-commerce in the last decade is opportune. This paper aims to identify research trends in the field through a Systematic Bibliometric Literature Review (LRSB) of research on marketing strategy for e-commerce. The review includes 66 articles published in the Scopus® database, presenting up-to-date knowledge on the topic. The LRSB results were synthesized across current research subthemes. The following findings are presented: Amidst the current competitive global business environment, companies tend to respond with strategies for e-commerce and online businesses that resort to e-commerce platforms and social networking to better understand consumer needs, facilitate consumer marketing strategy and share innovative information. The originality of the paper relies on its LRSB method, together with extant review of articles that have not been categorized so far.
TL;DR: This article developed an organizing framework to review existing research and assess and synthesize the knowledge in the upper echelons marketing strategy domain and used this to identify key blind spots and underdeveloped areas of knowledge caused by the two fields' independent evolutions.
Abstract: Marketing scholars have recently embraced the study of the corporate upper echelons—the executives and board members atop the organizational hierarchy However, management scholars have researched the upper echelons for decades, with frequent forays into the marketing strategy domain As a result of progressing in two separate disciplines, the literature on marketing strategy and the upper echelons is fragmented and disjointed We develop an organizing framework to review extant research and assess and synthesize the knowledge in the upper echelons marketing strategy domain Our review covers the 14 most influential marketing and management journals from 1984 through February, 2020 Given the relative newness of this research within marketing, we develop a conceptual model fusing existing theory in the upper echelons and marketing strategy literatures, and use this to identify key blind spots and underdeveloped areas of knowledge caused by the two fields’ independent evolutions Finally, we also examine challenges associated with conducting research in this area and provide recommendations to help researchers and reviewers navigate these challenges to advance theory and practice
TL;DR: In this article, the effect of narrative transportation, sense of presence, and psychological reactance in short narrative videos on destination brand attitude was investigated, and the results indicated that the narrative of short videos promoted brand attitude, and that this effect is achieved by lessening individuals' psychological reactionance to official advertisements.
TL;DR: In this article, the authors examine the role of place in the marketing strategies of seven family-owned wineries, in six countries, and explain how these wineries use their place to create and incorporate consistency with change in their marketing strategies.
TL;DR: This study proposes a novel Web analytics methodology to examine online reviews posted by tourists in real time and offers empirical evidence for a successful application, contributing to the literature by providing scholars interested in textual analytics a step-by-step guide to implement a multi-method approach.
Abstract: The dynamic yet volatile nature of tourism and travel industry in a competitive environment calls for enhanced marketing intelligence and analytics, especially for those entities with limited marketing budgets. The past decade has witnessed an increased use of user-generated content (UGC) analysis as a marketing tool to make better informed decisions. Likewise, textual data analysis of UGC has gained much attention among tourism and hospitality scholars. Nonetheless, most of the scholarly works have focused on the singular application of an existing method or technique rather than using a multi-method approach. The purpose of this study is to propose a novel Web analytics methodology to examine online reviews posted by tourists in real time and assist decision-makers tasked with marketing strategy and intelligence.,For illustration, the case of tourism campaign in India was undertaken. A total of 305,298 reviews were collected, and after filtering, 276,154 reviews were qualified for analysis using a string of models. Descriptive charts, sentiment analysis, clustering, topic modeling and machine learning algorithms for real-time classification were applied.,Using big data from TripAdvisor, a total of 145 tourist destinations were clustered based on tourists’ perceptions. Further exploration of each cluster through topic modeling was conducted, which revealed interesting insights into satisfiers and dissatisfiers of different clusters of destinations. The results supported the use of the proposed multi-method Web-analytics approach.,The proposed machine learning model demonstrated that it could provide real-time information on the sentiments in each incoming review about a destination. This information might be useful for taking timely action for improvisation or controlling a service situation.,In terms of Web-analytics and UGC, a comprehensive analytical model to perform an end-to-end understanding of tourist behavior patterns and offer the potential for real-time interpretation is rarely proposed. The current study not only proposes such a model but also offers empirical evidence for a successful application. It contributes to the literature by providing scholars interested in textual analytics a step-by-step guide to implement a multi-method approach.
TL;DR: In this article, a recent change in legislation obligates influencers to be compliant with social media regulations, which is a very important marketing strategy that builds its success on the strong link between influencers and their followers.
Abstract: Influencer marketing is a very important marketing strategy that builds its success on the strong link between influencers and their followers. A recent change in legislation obligates influencers ...
TL;DR: In this article, the Adaptive Hybridized Intelligent Computational model (AHICM) has been developed to analyze consumer behaviour for business development, and the study results are presented by segmenting respondents by the sustainability factor, determining the impact of sustainability values upon consumers' conduct, and identifying barriers to the transformation of values in action.
TL;DR: In this article, the authors offer reflections on how scholars can advance the marketing discipline and contribute to the achievement of the United Nations Sustainable Development Goals (SDGs) by using marketing discipline.
Abstract: This commentary offers reflections on how scholars can advance the marketing discipline and contribute to the achievement of the United Nations Sustainable Development Goals (SDGs). It contributes ...
TL;DR: Wang et al. as discussed by the authors evaluated the modified model of CSR initiatives as business and marketing strategy and their impact on customers' buying behavior and found that brand loyalty and cause-related marketing positively and significantly impact mediators between CSR dimensions and customers? buying behavior.
Abstract: Research background: This paper integrates the marketing and corporate social responsibility concepts by investigating how the previous studies de-bated CSR as a business strategy. This discussion extended from academics to business practices. Hence, this study investigated the concept of CSR as a business strategy in a multifactorial fashion in the marketing field.
Purpose of the article: This study evaluates the modified model of CSR initiatives as business and marketing strategy and their impact on customers' buying behavior. For this purpose, we have taken dimensions of Carroll's pyramid of CSR as marketing strategies. We have also examined the influence of brand loyalty and cause-related marketing as mediating variables and technology as a moderator between dimensions of Carroll's pyramid and customers' buying behavior.
Methods: We employed modified theoretical & conceptual model for evaluating the direct and indirect hypothesized relationship. We have collected 693 responses from the structured and adapted questionnaire. The survey was done among marketing and senior managers of the Asian pharmaceutical industry. We employed SEM-based multivariate modeling to examine the hypothesized relationship.
Findings & value added: The finding of this research exhibited that dimensions of Carroll?s pyramid of CSR have a positive and significant impact on customers' buying behavior. The results further demonstrated that brand loyal-ty and cause-related marketing positively and significantly impact mediators between CSR dimensions and customers? buying behavior. Finally, the technology has a significant influence as a moderator between exogenous and endogenous factors. The undertaken study demonstrated important theoretical and practical implications. The modified conceptual framework has provided several new dimensions for future researchers to use and replicate in different economic sectors. On the other hand, practitioners of the pharmaceutical industry should incorporate Carroll's CSR pyramid as business strategies to gain the trust and respect of their customers.
TL;DR: Zhang et al. as discussed by the authors analyzed consumers' overall evaluation behavior patterns in the online-to-offline (O2O) model by calculating network density, central potential, edge betweenness.
01 Oct 2021
TL;DR: It is shown that the physical environment and human interaction have the same importance in affecting perceived value and identifying the subtle difference between attitudinal and behavioral loyalty influenced by perceived value in the accommodation-sharing economy is identified.
Abstract: Understanding customer experience is an essential part of service operations for sustaining business in the sharing economy. We investigate the relationship among customer experience, perceived value, and customer loyalty from a stimulus-organism-response (S-O-R) perspective. Using a dataset of 4166 listings in a leading Chinese accommodation-sharing platform and text mining and econometric methods to analyze online customer reviews, we find that customer experience manifests in the physical environment and human interaction dimensions. The results show a positive association among customer experience, perceived value, and customer loyalty. Notably, the physical environment and human interaction are equally important in influencing customers' value judgments about their consumption experience. Moreover, perceived value has a stronger positive effect on attitudinal loyalty than on behavioral loyalty. This study adds new insights into the customer experience-perceived value-customer loyalty path by showing that the physical environment and human interaction have the same importance in affecting perceived value and identifying the subtle difference between attitudinal and behavioral loyalty influenced by perceived value in the accommodation-sharing economy. Furthermore, these findings provide managerial insights for service operations management and marketing strategy planning.
TL;DR: In this article, the authors discuss the importance of understanding the market of the refurbished product and the role of consumer purchase behavior and run a survey analysis to test several hypotheses about consumer's viewpoint toward refurbished electronics and identify marketing strategies that may benefit promoting the sale of refurbished consumer electronics in the market.
Abstract: The selling of refurbished products is considered a sustainable practice for businesses looking for strategies to improve their market image. However, companies still struggle to sell refurbished products for different reasons ranging from consumer's attitudes towards refurbished products to in-efficient pricing policies adopted by remanufacturing and manufacturing companies due to the lack of understanding of the actual market of refurbished products. This impacts the profitability of the remanufacturing industry on a large scale. This paper aims to discuss the importance of understanding the market of the refurbished product and the role of consumer purchase behavior. With an emphasis on the refurbished cellphone market, this study has run a survey analysis to test several hypotheses about consumer's viewpoint toward refurbished electronics and identify marketing strategies that may benefit promoting the sale of refurbished consumer electronics in the market. The survey analysis results suggest that consumers’ willingness to pay for refurbished cellphones depends on the degree of the technological obsolescence of the product. Consumer's willingness to purchase refurbished cellphones is higher for more technologically obsolete products. Also, the use of probabilistic selling or opaque selling might be a good strategy for selling refurbished products. Therefore, companies may consider using opaque selling as a marketing strategy since consumer choice decisions would change when dealing with an uncertain deal or probabilistic deals.
TL;DR: Through a factorial analysis, this work uncovered significant associations between marketing communication Media and users' profiles that allow sketching out a marketing strategy in twofold actions: first, identifying the target group to reach and, then, the nearest suitable channel where to develop the marketing communication.
TL;DR: In this article, a weak-brand firm and a strong-brand source from a common contract manufacturer may advertise this relationship to promote its own product, and the authors investigate how this relationship can be exploited.
Abstract: When a weak-brand firm and a strong-brand firm source from a common contract manufacturer, the weak-brand firm may advertise this relationship to promote its own product. This paper investigates wh...
TL;DR: In this paper, the authors examined consumers' purchase intention towards organic rice, using traceability information, and investigated the direct and moderating roles of product traceability knowledge, using the theory of planned behaviour.
Abstract: Organic rice forms the largest portion of the Thai organic food market. Because of its increasing popularity, marketers need to better understand consumer behaviour to address emerging concerns regarding product safety and quality and to tailor better marketing strategies relevant to the development of organic rice. As such, this study aims to examine consumers' purchase intention towards organic rice, using traceability information, and to investigate the direct and moderating roles of product traceability knowledge, using the theory of planned behaviour.,Responses were collected from 243 organic rice consumers in a farmers' market in Chachoengsao Province, Thailand, following a convenience sampling approach. The gathered data were analysed using structural equation modelling to evaluate the strength of the relationship between the constructs.,The findings reveal that subjective norms, health consciousness and product traceability knowledge have a significant positive influence on consumers’ intention to purchase organic rice. This study also establishes the moderating role of product traceability knowledge in perceived behavioural control and purchase intention, indicating that elaborated product information through traceability is essential for consumers who feel capable of buying the product. However, the direct effects of attitude and perceived behavioural control are insignificant, indicating the presence of external barriers to the purchase of organic rice, and that people may have a negative attitude towards the product. In addition, the cost perception result reveals that consumers consider price as an indicator of organic product quality, thereby increasing their desirability.,The findings of this study will help community enterprises in Thailand develop a more effective marketing strategy based on the identified motivators of organic rice purchase intention.,This study develops a model that integrates important factors related to organic food consumption to generate a more comprehensive analysis of this mainstream research. To the best of the authors’ knowledge, this is also the first study to investigate the moderating role of product traceability knowledge to obtain a new and more focused understanding of how this factor influences purchase intention when applied explicitly to organic food. Finally, the findings provide theoretical contributions and implications for both the community enterprise and policymakers on developing strategies for organic rice marketing among community enterprises in Thailand.
TL;DR: In this paper, the authors argue that blockchain has the potential to transform businesses and is a technology that marketers need to be acutely aware of and prepared to utilize, and they seek to generate discussion and future research on the impact of blockchain on five distinct areas: cryptocurrency, digital platforms, supply chain, online advertising, and market research.
Abstract: Marketers are faced with understanding and implementing new technologies at a greater rate than ever before. Yet despite the emergence of blockchain technology over a decade ago, it has received very little attention by academic researchers in marketing. Given the unique attributes of blockchain—transparent, decentralized, and immutable—it can create a more secure, customer centric, and open marketplace for consumers and businesses. This research contends that blockchain has the potential to transform businesses and is a technology that marketers need to be acutely aware of and prepared to utilize. We seek to generate discussion and future research on the impact of blockchain on five distinct areas: cryptocurrency, digital platforms, supply chain, online advertising, and market research.
TL;DR: The findings of this study show that the optimal marketing-mix strategy for brand A is pricing and for brand B is the product strategy, and the Nash equilibrium model has been used to analyze the results.
Abstract: Adopting efficient marketing strategies is a challenging task in a competitive market place involving complex marketing planning, techniques and mechanisms to identify the best course of action under these circumstances and finding optimal solutions or stable outcomes. Decisions and strategies of competitors in the market influence the selection of the appropriate marketing strategy. The main purpose of this paper is to develop a mathematical methodology based on the game theory approach for planning optimal marketing-mix strategies in dynamic competitive markets, taking into account strategic foresight and interaction effects.,The game theory approach, as a decision-making tool in conflict situations, is suggested for planning and adopting optimal marketing strategy. The main intellectual attraction of the game theory is essentially a question of how to act in gaming situations against highly rational opponents A kind of static, finite and non-cooperative game analytics approach has been developed for this issue, and the proposed model has been implemented to design optimal marketing strategies for two top brands of the automotive parts market in Iran.,The findings of this study show that the optimal marketing-mix strategy for brand A is pricing and for brand B is the product strategy.,Game theory and the Nash equilibrium model can provide a practical approach to find and adopt the right strategy, know competitors' movements and strategies and get more profit.,The integration of the game theory approach into the marketing mix framework has been adopted as a generalized model for marketing strategy planning and analysis as well as to resolve some shortcomings of the marketing mix framework. The Nash equilibrium model has been used to analyze the results. The incorporation of game theory into marketing models has the potential to enrich the scope of marketing modeling.