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This study analyzes how tech firms can implement the modern wave of subscription-based business model (SBBM), including value proposition, value creation, value capture and performance. In fact, these elements push tech firms to move from traditional to SBBMs.

To achieve the objectives of this study, we initially construct a theoretical framework for applying SBBM. Subsequently, we employ qualitative research to examine the current implementation of the subscription-based economy within tech firms.

A successful SBBM necessitates capturing value through sustainable revenue transactions and revising aspects of the value proposition, creation and capture. Continuous improvement through business value analysis is imperative. Additionally, an agile operations system is vital to address revenue complexities, enable data collection and enhance value proposition, service innovation, churn rate and customer retention, which are essential for SBBM maintenance.

This study delves into how the subscription-based economy is reshaping the business models of tech firms. Beyond exploring the theoretical foundation of this transformative path, this study offers actionable insights on enhancing the value proposition, creation, capture and business value within subscription-based economy frameworks.

There is an ongoing challenge to map the efficacy of e-retailing strategies in building both value co-creation opportunities for online customers and customer value for companies. Based on the service-dominant (S-D) logic, an integrative model is provided that connects the impact of convenience and personalisation strategies (CPSs) on an e-retailer's performance – by offering co-creation opportunities and customer engagement.

The survey instrument is validated and the model is tested with data from active online customers using a novel methodology that blends artificial neural network (ANN) analysis with partial least squares (PLS) in both the measurement model and the path analysis.

The findings robustly support the model and yield evidence of the contribution of CPSs in effective value propositions, the interface between the S-D logic and customer engagement, and the direct effect of customer engagement on tangible forms of value for companies.

This study is the first scholarly effort to provide a comprehensive understanding of how and why CPSs can maximise customer value for the e-retailer, while simultaneously testing the customer value/engagement interface with a new blended ANN-PLS method.

The purpose of this paper is to investigate the impact of customer-focus on small medium enterprise (SME) performance from the perspective of a resource-based view (RBV).

This research study implemented a survey strategy to gather data from 255 respondents on the registered list of Ghana Enterprise Agency (GEA) in the eastern region of Ghana. Scales used to gather data were operationalized from previous research studies. A structural equation modeling (SEM) path analysis was used to estimate the impact of customer-focus on the performance of SMEs.

The outcomes of this study indicate that customer-focus has a significant positive impact on SME performance, hence backing the current demand for investigating the distinct influence of customer-focus on SME performance. The results show that customer-focus has a positive and significant relationship with financial performance, customer performance, internal business process performance and learning and growth performance, thus supporting the literature on the positive impact of customer-focus on SME performance. Therefore, customer-focus determinants used in this study, including co-creation, networking ties, customer insight and artificial intelligence marketing (AIM), are critical to the optimization of SME performance.

Notwithstanding the importance of this research study mentioned earlier, the study has limitations. Notably, the sample size of this study can be increased to capture SME respondents in other geographical zones that were not included in this study. Future research studies may address how business environment conditions moderate the relationship between customer focus and performance, and also the cause-effect of the relationship between customer focus and business environment conditions on SME performance.

The practical implications consist of two main items. First, this study empowers SME owners and managers to develop a customer focus technique as a central strategic goal in their quest for SME performance optimization. Second, SME owners and managers should progressively exploit the four determinants of customer focus which include co-creation, networking ties, customer insight and (AIM in order to accrue important resources for effective utilization of their customer focus competences as a way to enhance their performance.

This study is targeted at the sound development of SMEs to bring about poverty alleviation and employment. Poverty, unemployment and poor living standards are recognized as vital social challenges in most emerging economies. The establishment of customer focus as an important strategic capability provides opportunities for SME survival, profitability and growth.

Generally, the findings of this research study provide a strong backing to RBV perspective and the proposition that customer-focus and its determinants (i.e. co-creation, networking ties, customer insight and AIM) should be acknowledged as a vital strategic resource for optimizing the performance of SMEs. This research study also provides new knowledge contribution to the present body of knowledge on customer-focus orientation and management literature, particularly in the context of an emerging economy.

The purpose of this study is to examine the impacts of product knowledge, perceived quality, perceived risk and perceived value on customers’ intention to invest in Islamic Banks. This study specifically examines an Islamic bank’s term deposits.

Structural equation modeling was used to analyze the data collected from 217 customers of an Islamic bank in Indonesia using an online survey.

This study highlights the central and dual roles of perceived risk as both the independent and the intervening variable that mediates the relationship between product knowledge and Muslim customer intention to invest in an Islamic bank’s term deposits.

This study only investigates term deposits as one type of investment in Islamic banks. This study contributes to the literature by examining the role of product knowledge, perceived quality, perceived risk and perceived value on Muslim customer intention to invest in Islamic term deposits.

The results of this study highlight the requirement for Islamic banks to educate customers to improve the depositors’ product knowledge because Muslim customers’ risk and value perception and intention are strongly influenced by product knowledge.

The investigation of perceived risk is particularly relevant for Islamic financial products because of the inherent nature of risk sharing in Islamic finance. This study investigates the role of product knowledge in influencing the Muslim customers’ perception of risk, quality, value and their intention to invest in Islamic bank term deposits. Ideally, the profit loss sharing concept (PLS) should be applied; however, in this context, revenue sharing is applied because of Indonesia’s central bank regulation.

Today, customers’ perceived value does not only depend on the products, but also on the services provided by a firm. In e-commerce, it is important to shift the focus beyond the product and discuss the value of personalized services in the context of e-commerce fulfillment. Therefore, the purpose of this paper is twofold: to develop a conceptual framework proposing satisfaction through personalized services as a middle-range theory; and to suggest foundational premises supporting the theoretical framework, which in turn shape middle-range theory within the context of apparel e-commerce fulfillment.

In this theory-driven paper, the authors apply the scientific circle of enquiry, as it demonstrates the role of theorizing with the help of middle-range theory and empirical evidence and as such provides a methodological scaffolding that connects theory formulation and verification. The authors synthesize literature related to customer perceived value (CPV) and satisfaction, followed by abduction focusing on understanding the empirical domain as it occurred in practice from company cases. The presented case studies are based on semi-structured interviews with three Swedish online retailers within the apparel industry. The theory-driven analysis results in suggestions of foundational premises.

Based on the theoretical foundations and empirical generalizations, three propositions are suggested. The premises regarding satisfaction through personalized service applied in the domain of apparel e-commerce fulfillment are: to ensure customer satisfaction requires a value co-creation perspective using data during the pre-purchase phase; to ensure customer satisfaction and retention require added-value perspective during the post-purchase phase of the shopping journey; and to ensure satisfaction and convenience require an added-value perspective at the last mile.

The apparel firms lose a substantial amount of revenue because of poor online customer satisfaction, leading to e-commerce not reaching its full potential. To enhance customer value, online retailers need to find a resort in advanced technologies and analytics to address customer satisfaction, and it is suggested that retailers shift their focus beyond the products and find ways to improve personalized service offerings to gain market advantage, improve fulfillment, drive sales and increase CPV.

To consider personalized services as a source for improving e-commerce fulfillment and CPV, the main contribution of this study is conceptual as it presents a theoretical model developed from general theory, middle-range theory and verified with empirical claims.

The purpose of this study is to address two issues relevant to those managing product returns: (1) how customers perceive the returning process and assessing the extent that these perceptions have on satisfaction with the organization, loyalty and word-of-mouth (WOM) and (2) are these outcomes moderated by whether customer returns were planned or unplanned?

The data consisted of 21 semi-structured interviews (pilot study) and a quantitative survey (n = 384; main study) targeted at consumers who had bought fashion items online.

Qualitative insights revealed that perceptions of the returning experience are driven by monetary costs, convenience, stress and guilt. Quantitative findings showed that the returning experience explains return satisfaction for both planned and unplanned returners, and returning satisfaction explains overall satisfaction and WOM. The noteworthy difference concerns loyalty: although customers that planned to return items are more loyal to the organization, it is the unplanned returners whose loyalty can be significantly increased by better managing the returning process.

Returning products online is increasingly common and thus forms an important part of the customer's overall experience with an organization. Returns management can therefore drive key customer outcomes. Understanding the dynamics between the product return experience, return satisfaction and customer outcomes will help practitioners design and implement more informed returns management strategies. Measures are also presented that assess the cognitive and emotional aspects associated with returning products.

Returning products is an increasingly important challenge for online retailers. Understanding what kinds of returning behaviors occur allows companies to design and execute better informed decisions to manage this phenomenon, not only for the sake of firm performance but also for societal and environmental benefits – the triple bottom line.

While scholars have investigated the relationship between return policies (e.g. free vs fee) and profitability, no prior literature has examined the returning experience: how consumers perceive the returning process; motivations for their returns (whether returns were planned or not) and subsequent customer outcomes.

This study aims to analyze the role of corporate social responsibility (CSR) customer perceptions, customer–company identification and customer trust on customer engagement (CE), paying special attention to the moderating effects of two types of social media communication, firm-generated content and user-generated content.

The study uses a mixed-methods’ approach. First, a single-factor experiment using Twitter posts as stimuli with 227 hotel guests. The structural model was analyzed using SmartPLS 3.2.7. Second, structured in-depth interviews were undertaken with three hotel industry experts to complement the conclusions of the quantitative study.

The results show that when a customer trusts a hotel and identifies with its corporate values, CSR tweets generate CE toward the hotel. CSR communications made by customers reinforce the impact of CSR tweets on customer trust more than CSR tweets posted by hotels. Hotel industry experts give insights to explain these results in different types of hotels.

CSR communications made through Twitter affect customers’ perceptions of a hotel’s CSR activities and customer trust in hotels, especially if they originate from a source external to the company. This result can be of use for hotel managers who have not previously given importance to active CSR communications or the interactivity of social media.

The authors show the moderating effect of user-generated content in the relationship between CSR customer perceptions and customer trust, thus contributing to the research into the effectiveness of social media. They use a mixed-methods’ approach to increase the validity of the results.

Este estudio analiza el papel de las percepciones de RSC, la identificación cliente-empresa (CCI) y la confianza en el engagement del cliente (CE), prestando especial atención al efecto moderador de dos tipos de comunicación en redes sociales: Contenido Generado por la Empresa (FGC) y Contenido Generado por el Usuario (UGC).

Se emplean métodos mixtos: un experimento de un factor usando publicaciones de Twitter como estímulo con 227 huéspedes del hotel, cuyo modelo estructural se analizó con SmartPLS 3.2.7., y 3 entrevistas en profundidad con expertos de la industria hotelera.

Los resultados muestran que, cuando un cliente confía en el hotel y se identifica con sus valores corporativos, los tweets de RSC generan engagement. La comunicación de RSC emitida por usuarios refuerza el impacto de los tweets de RSC en la confianza del cliente más que los tweets publicados por hoteles. Los expertos de la industria hotelera aportan nociones para explicar estos resultados en diferentes tipos de hoteles.

La comunicación de RSC realizada a través de Twitter afecta las percepciones del cliente sobre las actividades de RSC del hotel y la confianza en el mismo, especialmente si proceden de una fuente externa a la empresa. Este resultado puede ser útil para gerentes de hoteles que no se benefician de la comunicación activa de RSC o la interactividad de las redes sociales.

Se valida el efecto moderador del UGC en la relación entre las percepciones de RSC y la confianza de los clientes, contribuyendo así a la investigación sobre la efectividad de las redes sociales. Se emplea un diseño mixto para incrementar la validez de los resultados.

Comunicación de RSC, Engagement del Consumidor, Fuente del mensaje, Contenido generado por la empresa, Contenido generado por el usuario, Twitter, Compromiso con el cliente

Trabajo de investigación

The insurance industry has not been able to effectively retain its customers and struggles to establish and maintain long-lasting relationships with them. The purpose of this paper is thus to identify the main factors that explain the cancellation of motor insurance policies by individual customers, considering the influence of intermediaries on their decisions.

The data used in this research is based on a sample of 3,500 insurance policies that lapsed during the period of analysis between January and July 2017, against another sample of 3,500 policies that did not lapse, from a major insurance company in Portugal. Binary logistic regression was used for data analysis, using IBM SPSS software.

Aggressive tactics by insurance companies for customer acquisition may induce the cancellation of insurance policies. More valuable customers, the policies with higher premiums and recent claims, as well as the ancillary intermediaries and agents, are determinants of insurance cancellation. Conversely, the payment of policies by direct debit and without instalments reduces the probability of cancellations.

The main limitation of this study is the restriction on data access. Insurance companies are significantly resistant to sharing their customer data – including with academic researchers – even in an anonymised form.

The paper highlights internal and external practices of insurance companies that should be reformulated to significantly improve their performance regarding product cancellation, related to customer information management, mistrust behaviours related to stakeholders and new value propositions that deepen the relationships with intermediaries.

This research developed a framework with which to identify the factors that are mainly associated with motor insurance cancellation and to predict its likelihood.

保險業一向未能有效地留住客戶，故業內不斷努力建立並維繫與客戶長久的關係。因此、本文擬確定個人客戶終止其汽車保單的因素；研究過程中、會考慮中介人對客戶作有關決定的影響 。

本研究所使用的數據、為基於一個涵蓋3500份期滿終止保單的樣本、並以之與另一涵蓋3500份沒有終止保單的樣本相比，樣本均來自葡萄牙一家大型保險公司。期滿終止保單之樣本、乃於2017年1月至同年7月這個研究進行期間内期滿終止的。研究使用了二元羅吉斯迴歸來分析數據，並應用了IBM SPSS 數據分析軟件。

保險公司為贏得客戶所採用的積極進取策略可能導致客戶終止其保單。保單終止的決定因素包括更多有價值的客戶、保險費較高的保單、最近的索賠和輔助的中介及代理。反之，以自動扣帳方式及以非分期付款形式繳付保單則會減低終止保單的機會。

本研究發展了一個框架、以確定與客戶終止其保單有關聯的主要因素，並預計客戶終止保單的可能性。本文亦強調了保險公司須重新制定其內部與外部的做法，以能大幅改善其與產品取消有關的績效，而這些產品取消涉及客戶信息管理、與持份者有關的不信任行為、以及能深化與中介人之關係的新價值主張。

This paper aims to determine what the brand performance consequences of corporate social responsibility (CSR) activities would be during times of recession for well-known brands.

Based on signaling theory, this paper investigates if CSR activities serve to signal higher brand value for consumers via perceptions of better quality and greater differentiation, specifically during recessions. This study incorporates a representative longitudinal sample of known US firms for the analyses, which is accomplished through generalized method of moments estimations.

The findings empirically demonstrate that CSR initiatives during recessions are actually associated with increased perceptions of brand value. More specifically, during recessions, CSR initiatives such as charitable contributions provide a signal to customers of higher brand quality.

This study did not control for the costs of doing specific CSR activities that may be less visible to consumers.

While individual firms or managers may not be able to prevent recessions from happening, they can limit the negative impact of recessions on their performance by engaging in CSR activities (or refrain from cutting back) during these times.

Because CSR initiatives during recessions result in more favorable consumer perceptions of the brand, engaging in CSR aligns both social and managerial interests, owing to the economic gains from CSR investments.

During times of recession, some critics indicate that CSR may be an unaffordable luxury. On the contrary, this research shows that managers may want to consider CSR activities as a means of increasing the value of their brands, especially during economic recessions.

The purpose of this paper is to investigate the perception of marketing managers in a transition country Montenegro with regards to marketing metrics. The paper examines the degree in which managers are familiar with the way marketing metrics are applied and how important they are in the process of making business decisions in a company operating in a Montenegro.

Data was collected during 2020 through a survey of 171 randomly selected companies and was analyzed using structural equation model and the statistical method of analysis of variance tests.

The obtained results show that managers are quite familiar with financial and non-financial metrics. Both groups are applied to a significant degree, as managers believe that these indicators provide valuable information needed during the decision-making process. Still, more emphasis is placed on the knowledge, implementation and importance of non-financial metrics compared to financial metrics. This is probably due to the specificities of the economic activities of the companies operating in Montenegro, as most of them are service companies, which is why non-financial metrics (such as consumer metrics) are the most important indicators when it comes to ascertaining the market position of the company. Additionally, in recent years the primary focus in Montenegro, as country that is still in the process of transformation from planned economy to a free-market form, has been placed on strengthening of competitiveness and advancing the market orientation of companies. This led to an increase in the importance that managers in transition countries attach to non-financial metrics.

The fact that the survey only covers companies from one country is its limitation.

The obtained results will have a significant empirical contribution, which is reflected in providing guidelines for managers on how to improve the system of measuring and controlling marketing performance, all that to strengthen the competitiveness of the company, and can serve managers of hierarchy levels in a company as guidelines for making decisions on the implementation of marketing strategy and marketing metrics, to improve business performance, multi-context customer interaction, cost-saving and strengthen competitiveness.

Obtaining necessary knowledge management and implementing marketing metrics are important conditions for consideration when it comes to the continuous monitoring and improvement of business results, increasing competitiveness and advancing the market position of the company.

The originality stems from the analysis of the interconnection that exists between marketing metrics and strategic decision-making, which is expected to be positively reflected in the development of society, i.e. strengthening the competitiveness of companies based on knowledge management achieved through the assessment of the degree of knowledge, the implementation and the significance of each of the metrics covered within this research in business decision-making processes. The paper provides insights into the extent to which managers understand the meaning of these indicators and are able to combine different marketing metrics to obtain more complex indicators, serving as necessary inputs when making strategic business decisions.