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Book part
Publication date: 13 May 2024

Sampath Boopathi and Sandeep Kautish

Introduction: Cost competitiveness, customer focus, and sustainability compliance are essential for new-age firms to survive and succeed in the VUCA market environment. This study…

Abstract

Introduction: Cost competitiveness, customer focus, and sustainability compliance are essential for new-age firms to survive and succeed in the VUCA market environment. This study examines how automobile corporations have improved cost competitiveness, productivity, and product quality.

Purpose: This study examines the importance of cost competitiveness, customer focus, and sustainability compliance for the long-term survival of organisations in VUCA markets, looking at the practical efforts made by automobile corporations to enhance cost competitiveness, productivity, and quality.

Methodology: The study utilises a comprehensive analysis of the strategies and initiatives implemented by the selected automobile companies. It involves a review of relevant literature, case studies, financial data analysis, and interviews with key industry experts, providing a holistic understanding of the actions taken by these organisations to achieve their goals.

Findings: The study reveals that cost competitiveness, customer focus, and sustainability compliance are critical factors for the long-term survival and success of organisations in the automotive industry. The analysed automobile companies have undertaken practical efforts to improve cost competitiveness, enhance productivity, and ensure high-quality products, enabling them to navigate the challenges and maintain a competitive edge.

Significance: The findings of this study contribute to a deeper understanding of the importance of cost competitiveness, customer focus, and sustainability compliance in the automotive industry. It highlights the need for organisations to constantly monitor both qualitative and quantitative profit to avoid complacency and ensure long-term efficiency. The study’s insights are relevant to businesses operating in other sectors, as they face similar challenges in the VUCA market environment.

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VUCA and Other Analytics in Business Resilience, Part B
Type: Book
ISBN: 978-1-83753-199-8

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Book part
Publication date: 14 December 2023

Jagathiswary Ravichandran, Choi-Meng Leong, Tze-Yin Lim, Eva Lim and Lee-Yen Chaw

The purpose of the study is to conceptualize the model of the predictors of consumer willingness to purchase green products. This study used the underpinning theories related to…

Abstract

The purpose of the study is to conceptualize the model of the predictors of consumer willingness to purchase green products. This study used the underpinning theories related to consumer willingness by integrating the green concept in deriving the consumer willingness to purchase green products. Based on the underpinning theories of marketing strategies, it was found that marketing mix was still fundamental in business. Therefore, green marketing mix was proposed to describe the consumer's green purchase willingness. Furthermore, corporate social responsibility (CSR) plays an important role as the key to organizational strategy. Thus, CSR is also included in the proposed framework. As this is a conceptual paper, further empirical study needs to carry out to verify the proposed hypotheses. This study contributes to the market practitioners or entrepreneurs in terms of re-considering marketing mix and CSR in deriving customer willingness to purchase green products. This study extends the literature of behavioural intention by integrating green marketing strategies with CSR in determining consumer willingness to purchase.

Book part
Publication date: 14 December 2023

Muhammad Faisal Sultan, Muhammad Nawaz Tunio, Ghazala Shaukat and Muhammad Asim

The shift in consumer focus towards green marketing mix elements is not a unique thing. Especially in recent times, most organizations are trying to implement green marketing…

Abstract

The shift in consumer focus towards green marketing mix elements is not a unique thing. Especially in recent times, most organizations are trying to implement green marketing strategies in order to influence customers as well as to reduce the negative impacts of environmental footprints. However, in recent times service marketing requires thorough implementation of a Green Marketing Mix as evidenced by Asian countries. However, research also claims that the use of a traditional green marketing mix is not a guarantee of success in the long run and therefore has been criticized by several researchers and scholars. Hence, there is a need to follow the Green-SIVA (Solution, Information, Access, and Value) concept in order to create a long-lasting impact on consumer buying and to discuss the application of tools in a more comprehensive manner. Although the linkage of Green-SIVA marketing might provide a new way to develop an effective marketing mix strategy for services. Hence, this chapter has been written purposely to discuss GMM elements with reference to the service industry of Pakistan and tries to develop an association with green-SIVA marketing practices in order to optimize service marketing practices.

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Entrepreneurship and Green Finance Practices
Type: Book
ISBN: 978-1-80455-679-5

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Book part
Publication date: 16 February 2024

Maria Palazzo

In today’s dynamic business environment, it’s crucial for companies to employ robust strategies and decision-making tools to remain competitive. This chapter explains the key…

Abstract

In today’s dynamic business environment, it’s crucial for companies to employ robust strategies and decision-making tools to remain competitive. This chapter explains the key comprehensive policies that can be applied by any company to maximise the effectiveness of the APPNIE framework. These policies include the following key elements for effective use of the APPNIE model: appointing an APPNIE manager responsible for maintaining and updating the model, collaborating with top executives, and formulating action plans; raising awareness of the APPNIE manager’s role across the organisation to encourage sharing valuable information (establishing clear procedures and channels for data collection); encouraging the communication of valuable data by offering recognition or rewards, ensuring a steady flow of filtered information; monitoring the eight quadrants using qualitative and quantitative data for up-to-date assessments of key APPNIE’s factors; organising regular meetings between APPNIE managers and directors from different functions to share perspectives, discuss action plans, and address challenges and opportunities. The chapter shows that by adopting these practices, companies can navigate ‘complexity’, make informed decisions, and enhance their overall success and competitiveness in the market.

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Rethinking Decision-Making Strategies and Tools: Emerging Research and Opportunities
Type: Book
ISBN: 978-1-83797-205-0

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Book part
Publication date: 16 January 2024

Monika Prakash, Sweety Mishra, Pinaz Tiwari and Nimit Chowdhary

The smart destination can be defined as a destination that deploys information communications technologies (ICTs) and other technological tools for interactive/participative…

Abstract

The smart destination can be defined as a destination that deploys information communications technologies (ICTs) and other technological tools for interactive/participative engagement with prospective visitors. The rationale is to enhance the residents' quality of life as well as the tourists' experiences of the destinations they visit. This chapter discusses about digitization strategies and on marketing superstructures affecting destinations. It advances a conceptual framework through the development of an Attracting, Stay, and Return (ASR) Model that is suitable for smart destinations. It relies on descriptive case studies to conceptualize smart tourism destinations. This contribution reiterates the importance of having a well-designed website that presents appropriate content to entice the prospective travelers' curiosity about destinations. It offers valuable insights and advances new knowledge on smart marketing approaches that are intended to increase the destination management organizations' outreach with tourists at each stage of the ASR Model.

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Tourism Planning and Destination Marketing, 2nd Edition
Type: Book
ISBN: 978-1-80455-888-1

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Book part
Publication date: 14 March 2024

Aman Abid and Sanjit K. Roy

Social media has become an indispensable part of modern politics. Its rise in the political arena has coincided with the decline in trust toward mainstream media. Today, more than…

Abstract

Social media has become an indispensable part of modern politics. Its rise in the political arena has coincided with the decline in trust toward mainstream media. Today, more than half of the population gets their political news and information through social media platforms like Twitter and Facebook. Social media offers a great marketing opportunity to politicians as they allow them to bypass traditional media and communicate directly with voters, engage citizens during campaign and noncampaign periods, and create a brand image. As social media's influence in politics grows, so has the research devoted to political marketing on social media. It is against this backdrop that this chapter is written, which provides readers with an overview of the academic domain and the current state of literature. The chapter highlights the various research areas that have been explored in the literature and the implications of social media for political marketing strategy, along with the domain's current limitations and possible avenues of further research.

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The Impact of Digitalization on Current Marketing Strategies
Type: Book
ISBN: 978-1-83753-686-3

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Book part
Publication date: 4 April 2024

Yan He, Ruixiang Jiang, Yanchu Wang and Hongquan Zhu

We form portfolios based on return and liquidity and examine the effects of liquidity and other risk factors on asset pricing in the Chinese stock market. Our results show that…

Abstract

We form portfolios based on return and liquidity and examine the effects of liquidity and other risk factors on asset pricing in the Chinese stock market. Our results show that the past loser-and-illiquid stock portfolios tend to outperform the past winner-and-liquid stock portfolios in the 1–12 months holding period. The excess return is significantly associated with the market-wide liquidity factor even when we control the three Fama-French and momentum factors. Cross-sectionally, the liquidity beta significantly affects the excess return even with control of other risk betas and other traditional liquidity proxies.

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Advances in Pacific Basin Business, Economics and Finance
Type: Book
ISBN: 978-1-83753-865-2

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Book part
Publication date: 16 January 2024

Antonella Monda, Antonio Botti and Massimiliano Vesci

This chapter is part of a strand of studies dedicated to tourism events and territorial marketing strategies and focuses on the role of communication in an event-based strategy…

Abstract

This chapter is part of a strand of studies dedicated to tourism events and territorial marketing strategies and focuses on the role of communication in an event-based strategy. Events can attract tourist flows, spread the territorial image, stimulate investment, and contribute to the territorial brand. Therefore, their role becomes increasingly important for an effective territorial and tourism marketing strategy. In the events sector, communication plays a key role in shaping marketing policies, which increasingly involve interaction between actors and the use of technology. To build and communicate an event is essential to implement social media marketing strategies that foster sharing of content that significantly influences user behavior. However, the academic literature on the role of social media in event management is limited. Therefore, this study has a twofold objective: to conduct a review of the literature to systematize and contextualize existing knowledge and to identify the main benefits and risks involved in the use of social networks in events.

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Tourism Planning and Destination Marketing, 2nd Edition
Type: Book
ISBN: 978-1-80455-888-1

Keywords

Book part
Publication date: 26 March 2024

Chandan Gupta, Priya Jindal and Madhavi Shamkuwar

Purpose: This chapter aims to find the impact of cultural marketing on consumer buying behaviour and analyse the cultural factors affecting consumers’ buying behaviour. Cultural…

Abstract

Purpose: This chapter aims to find the impact of cultural marketing on consumer buying behaviour and analyse the cultural factors affecting consumers’ buying behaviour. Cultural marketing aims to offer and promote a product, a message, or a service to a group of people who may be their potential purchasers and belong to the same culture or particular demographic.

Methodology: This study uses the published research for different countries viz. India, Canada, Germany, the UAE, the UK, the USA, Japan, etc., in the field of culture, cross-culture, and consumer buying behaviour considering various factors and their impact; but in particular, this study focussed on the cultural factors only and analysed their impact on the consumer behaviour of the different countries.

Findings: The study revealed that different countries have their own unique culture. Cultural factors have a positive relationship with consumers’ buying behaviour and exhibit that consumers behave differently towards the same product as per their perception developed by their culture.

Need of the study: Today, the world has become global, and to become a successful consumer oriented market service provider, marketers have to study the psychology of the customers to procure them. This study focusses on one of the essential factors, that is, culture and how cultural factors affect consumer buying behaviour. The study of culture is the gateway to attracting consumers in the market.

Practical implications: The study would help multinational companies in segmentation, targeting, and positioning and developing several marketing strategies for their products. Companies would be able to understand changes in consumer purchasing behaviours that arise from cultural differences, which helps them cater to the needs of their global consumers.

Details

The Framework for Resilient Industry: A Holistic Approach for Developing Economies
Type: Book
ISBN: 978-1-83753-735-8

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Book part
Publication date: 29 January 2024

Taqwa Al Mawaali, Omar Nasser Khamis Al Hashar, Noof Al Alawi, Tamanna Dalwai, Syeeda Shafiya Mohammadi and Maroua Ben Maaouia

This study investigates the impact of business strategy on earnings management practices for financial and non-financial firms in Oman. To assess the research objective, 430…

Abstract

This study investigates the impact of business strategy on earnings management practices for financial and non-financial firms in Oman. To assess the research objective, 430 firm-year observations from 2015 to 2019 were employed in the study. Using regression analysis, the findings suggest that differentiation strategy positively affects earnings management in financial sector firms. In addition, cost leadership strategy positively affects earnings management in non-financial sector firms. This indicates that business strategy is associated with company leaders managing their earnings while they are trying to survive through competition. These findings are useful for regulators, as they can introduce mechanisms to curb earnings management practices and instil more faith in investors.

Details

Digital Technology and Changing Roles in Managerial and Financial Accounting: Theoretical Knowledge and Practical Application
Type: Book
ISBN: 978-1-80455-973-4

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