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This paper aims to present the importance of market segmentation and how it can be used to strategize effectively to penetrate deeper into the contact lens market.

Market segment is a group of consumers with common needs, priorities or characteristics. Each market segment is different, and a business must target these different market segments with different marketing strategies. This paper highlights the role of market segmentation in creating an ideal target segment for contact lens market and designing a unique strategy to reach the targeted segment.

Adolescents or teenagers seem to be an ideal segment to penetrate deeper into the contact lens market and to realize immediate gains. A unique or different marketing strategy is required to target and occupy adolescents.

Targeting adolescents, who form the most promising category to penetrate the market, with a unique marketing mix will likely increase profit, revenue and return of investment.

This paper aims to present a broader industry-level competitive analysis of a contact lens market.

Porter’s Five Forces model can be used for a broader and rigorous competitive analysis of a contact lens market to determine the competitive intensity and to form a well-rounded business strategy.

The contact lens market is highly competitive and unattractive. Because growth has been stagnant, traditional competition has become more intense to steal share from each other. However, the competition in the market could not be defined narrowly between traditional competition but is broad with substitutes, and bargaining power of customers and distributors. A contact lens manufacturer has to look beyond the traditional competition to not only compete with traditional competitors within the industry but also with substitutes, and bargaining power of customers and distributors.

This paper will benefit contact lens manufacturers/businesses in forming a well-rounded business strategy.

This paper aims to build important strategic elements to penetrate deeper into the contact lens market and increase sales.

The contact lens market is highly competitive and unattractive. Because contact lens market growth has slowed, competitors have become more alike. To survive or make more than normal profits, a contact lens manufacturer has to differentiate and compete on wider dimensions.

In a complex, competitive and ever-changing vision care industry environment, a contact lens manufacturer must compete on wider dimensions to gain strategic advantage and increase sales.

To survive, a contact lens manufacturer’s strategic game plan may not look simple and form wider strategic components.

Provides a unique look at the contact lens market.

Teaching objective 1: Students are able to identify and apply characteristics of a social entrepreneur, and social enterprise, as defined by Dees (2001). Teaching objective 2: Students are able to identify and apply the four tensions identified by Smith, Gonin and Besharov (2013) that manifest in social enterprises. Teaching objective 3: Students are able to apply Institutional Theory to social entrepreneurship. Students are able to explain legitimacy and the influence of context on the social enterprise. Teaching objective 4: Students through using the Change Canvas, are able to distinguish between profit and purpose characteristics of the organisation; and are able to make recommendations based on the process they have followed.

Kovin Naidoo is the CEO Of a multi-national social enterprise, Australia-based The Brien Holden Institute. The case explores Naidoo's journey as a social entrepreneur, and the partnership forged with Brien Holden as they built their multinational social enterprise. Naidoo is catapulted to the position of CEO after the sudden death of his friend, and is trying to balance the competing pressures of profit and purpose. The case introduces the foundational characteristics of social entrepreneurship, before exploring Institutional Theory and the Change Canvas as a tool for managing tensions between profit and purpose.

This case study is aimed at students of entrepreneurship, social entrepreneurship, corporate social investment, development studies, innovative health-care systems, sustainable livelihoods and asset-based development. It is written at an Honours / Masters level and is therefore also appropriate for use in customised or short programmes.

Videos (including a TedX by Naidoo), Web materials and a book chapter are included in the supplementary materials list.

CSS 3: Entrepreneurship.

Suggests that companies can become customer centred by adopting five strategies: shift to a laser‐beam focus; hardwire the voice of the customer; universal collaboration; lasting customer enthusiasm rather than customer satisfaction, and a move to contact leadership.

Creating a fundamentally different business in the shadow of the old one – while its assembly lines continue to roll – is a daunting challenge. Bain consultant Chris Zook recently published the last book in a trilogy which addresses the question of how to make “fundamental change in your business model, while still running your business.”. This paper aims to explores his views on this subject.

For this interview, two Strategy & Leadership senior editor's – one a Silicon Valley consultant and former CEO and the other an academic – – asked Zook to take them on a guided tour of his reinvention process.

The paper finds that the underlying thesis in each of the three books is that companies need to master all phases of a strategic life cycle: from extracting the full potential from their core business, to expanding their business successfully, to redefining themselves For most companies and in more industries, the strategy cycle – from Focus, to Expand, to Redefine – has become shorter, and therefore companies frequently confront moments of redefinition of their core.

In this interview, Zook's how‐to advice for managers covers: the role of hidden assets, the “state of the core diagnostic” tool, the “shrink to grow” strategy, how to test “the waters,” and the FER (focus‐expand‐redefine) cycle.

Because the interview considers the whole trilogy the reader gets a unique view of how Zook's ideas fit together and build a cogent thesis.

The purpose of this paper is to bring international marketing and consumer research attention to multicultural marketplaces as a new focal research lens. It develops a conceptualisation of multicultural marketplaces, demonstrating why they constitute new conceptual territory, before specifying five key areas for research development.

The paper draws from seminal international marketing literature and other fields to propose perspective shifts, and suggest theories and frameworks of potential usefulness to the five research areas.

The paper conceptualises multicultural marketplaces as place-centred environments (physical or virtual) where the marketers, consumers, brands, ideologies and institutions of multiple cultures converge at one point of concurrent interaction, while also being potentially connected to multiple cultures in other localities. Five key areas for research development are specified, each with a different conceptual focus: increasing complexity of cultural identities (identity), differentiation of national political contexts (national integration policies), intergroup conviviality practices and conflictual relationships (intergroup relations), interconnectedness of transnational networks (networks), and cultural dynamics requiring multicultural adaptiveness (competences).

For each research area, a number of research avenues and theories and frameworks of potential interest are proposed.

The paper demonstrates why multicultural marketplaces constitute new conceptual territory for international marketing and consumer research; it provides a conceptualisation of these marketplaces and a comprehensive research agenda.

The purpose of this paper is to review customer experience formation (CXF) by first locating and analyzing how researchers approach CXF in the service literature and the theoretical underpinnings of these approaches, and then assessing which approaches are best suited for understanding, facilitating, and examining CXF in today’s service landscape.

This study systematically reviews 163 articles published between 1998 and 2015 in the service field.

This study illustrates how researchers approach CXF on the individual level by applying stimulus- interaction- or sense-making-based perspectives. These reflect researchers’ theoretical underpinnings for how individuals realize the customer experience within environmental, social, and temporal contexts through intermediation. Researchers further apply contextual lenses, including the dyadic and service- or customer-ecosystem lenses, which reflect their theoretical underpinnings for explaining how various actor constellations and contextual boundaries frame individual-level CXF. Finally, this study shows why the sense-making-based perspective, together with a service- or customer-ecosystem lens, is particularly suitable for approaching complex CXF in today’s service settings.

To advance theory, researchers should choose the approaches resonant with their research problem and worldview but also consider that today’s complex service landscape favors holistic and systemic approaches over atomistic and dyadic ones.

This study provides managers with recommendations for understanding, facilitating, and evaluating contemporary CXF.

This study advances the understanding of CXF by systematically reviewing its multiple layers, approaches, and dimensions and the opportunities and challenges of each approach.

The purpose of this paper is to explore the marketing of online businesses operated by ethnic minority entrepreneurs. The authors apply an entrepreneurial marketing lens to explore how such entrepreneurs draw on the resources to market their businesses. They also consider whether online businesses offer such entrepreneurs the opportunity to break out of the highly competitive sectors with which they are traditionally associated.

Key informant interviews are undertaken with 22 entrepreneurs operating online businesses in the UK and augmented by complementary sources of data such as their websites and press coverage.

Use of an entrepreneurial marketing perspective demonstrates that marketing in such businesses is not haphazard or chaotic. Rather it reflects the emergent and flexible use of resources. The affordances of online businesses appear to offer opportunities for break out, but the reliance on incremental experimentation and copying others results in highly homogeneous approaches to marketing. The authors also provide empirical evidence of the link between visa status and entrepreneurial choices.

Despite the popularity of online businesses, previous studies have not explored them as an opportunity for ethnic minority entrepreneurs. This study moves the consideration of break out from market-entry to the ongoing marketing activities that sustain a business. It also demonstrates how the domains of ethnic minority entrepreneurship and entrepreneurial marketing can be brought together via a focus on resources. Finally, it enriches entrepreneurial marketing by evidencing connections with notions of effectuation and entrepreneur-venture fit.

This paper aims to explore the market creation practices of farm-based entrepreneurs in the local food sector. Alternative marketing channels for farm-based products increase, but it is not known how entrepreneurs work to position their products in the marketplace. By expanding on the research of farm-based entrepreneurship and entrepreneurial marketing (EM), this study explores the entrepreneurial practices that farm-based entrepreneurs use through the lens of the EM mix (EMM) and its constituent dimensions: person, purpose, practice and process.

The study uses a multiple case study design and follows a phenomenological approach in conducting in-depth retrospective interviews with 11 successful farm-based entrepreneurs in the local food sector in Norway.

The thematic analysis revealed four key EM practices of the study’s farm-based entrepreneurs: transferring the farm or transforming the farm as the primary purpose; legitimising a local brand through the uniqueness of person, purpose and place; using a personal networking approach in the market development process and flexible and controllable market expansion practices. These elements constitute the pillars of successful, creative and resource-efficient market development.

The study represents a pioneering attempt to explore and conceptualise EM within farm-based entrepreneurship. The findings ultimately give rise to a novel framework: the farm-based entrepreneur’s marketing mix (FEMM).