Search results

New information and communication technologies have transformed the ways businesses communicate and maintain relationships with their customers. In this chapter, we review the main topics in academic research pertaining to digital marketing and relationship perspectives. The discussion involves email and website marketing, search engine marketing, user-generated content, co-creation marketing, social media marketing, prosumption marketing in the sharing economy, immersive marketing and AI-based marketing. On this basis, the chapter proposes some future research directions including influencer marketing, live streaming, social service enhancement and the dark side of social media marketing, consumer-to-consumer interactions on two-sided platforms, psychological mechanisms related to the use of mixed realities, and the experience of AI-enabled service automation and relevant ethical issues. Furthermore, emerging technologies such as the Internet of things (IoT) and blockchain are expected to be the next breakthrough in marketing, which warrant further research to examine their impact on the customer-firm relationship. It is suggested the researchers could focus on the adoption and application of blockchain technology, participative marketing via IoT, as well as the privacy and data protection issues related to these technologies. This chapter provides a comprehensive picture of the connection between digital marketing and relationship marketing in academic research.

This chapter presents a summary of the literature on the influence of the Internet and other digital innovations on markets, consumers, and firms. The review leads to a list of topics in need of research in the general areas of big data, online and mobile advertising, consumer search, online privacy, online reviews, social networks, platforms for online transactions, and the impact of the Internet on retail markets, including multi-channel and omni-channel retailing. We discuss the big data approaches that have been applied to problems of targeting and positioning and suggest areas for further development of these approaches. We also discuss the emerging area of mobile advertising, which can further enhance targeting. On the consumer side, the evidence indicates that the Internet has greatly lowered the costs of search and access to retailers. Much of the consumer data are transmitted to sellers, and much of the online advertising is transmitted to consumers, through platforms, such as Google. We conclude that better models of competition among these platform firms are needed and that they need to be examined for anti-trust violations. While online retailing has grown rapidly, it still has a relatively small share of retail sales. Since sellers can combine the advantages of online and offline channels, it has been common for sellers to branch into multi-channel retailing. Given the increased availability of detailed consumer data, omni-channel selling, which emphasizes strategies for the various touchpoints that lead to a transaction, is an area for further development.

One of the biggest challenges in markets where products have ambiguous values (like fine art, specialty coffee, and wine) is to determine the structure of the market. As products in these markets are unique and values are private, it is difficult to determine its market structure using traditional methods. In this chapter, we present a method to determine the market structure of ambiguously valued products using bidding data from auctions. We create a sociomatrix of artists based on bidders revealed bidding preferences and uncover the market structure with artists as the unit of analysis. We demonstrate our approach using bidding data from an online auction of Modern Indian Art. This approach resulted in the extraction of a two-dimensional art market structure with color and price being the two dimensions. This chapter concludes with a discussion on the implications and limitations of our approach, and directions for future research.

Companies are interested in engaging consumers in spreading the word about their products or brands. Although more and more studies are analysing word of mouth marketing (WOMM), the topic is still very recent, thus very little is known about how to develop a WOMM campaign effectively. This chapter develops a literature review on WOMM in social media for better understanding on how to manage WOMM.

The studies reviewed have allowed us to identify the main decisions that should be taken when planning a WOMM campaign: the selection of the seed, the type of message and the inclusion of incentives.

We identify the two types of objectives that companies can follow with WOMM: information diffusion or consumers’ persuasion. Depending on the campaign objectives, the strategy to be used in order to be successful is different.

This chapter can be useful to both, marketers, by showing them how to develop a WOMM campaign effectively; and researchers, by showing them the main gaps on WOMM that should be addressed in future studies.

This is one of the first attempts to review the literature and organize knowledge on WOMM. Concepts that have been treated as synonymous by many researchers such as opinion leaders, market mavens, innovative consumers, and hubs are clarified and distinguished one from the other which may help in improving previous knowledge on this field.