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1 – 10 of 21Deepak Saxena, Mairead Brady, Markus Lamest and Martin Fellenz
This study aims to provide more insight into how customer voice is captured and used in managerial decision-making at the marketing-finance interface. This study’s focus is on…
Abstract
Purpose
This study aims to provide more insight into how customer voice is captured and used in managerial decision-making at the marketing-finance interface. This study’s focus is on understanding how the customer voice, often communicated through online and social media platforms, is used in high-performing hotels.
Design/methodology/approach
This research is based on a case study of four high-performing Irish hotels. For each case, multiple informants, including marketing managers, general managers and finance managers, were interviewed and shadowed. Twenty seven decisions across the four cases were analysed to assess the use of customer voice in managerial decision-making.
Findings
Social media provides a stage that has empowered the customer voice because of the public nature of the interaction and the network effect. Customer voice is incorporated in managerial decision-making in three distinct ways – symbolically as part of an early warning system, for action-oriented operational decisions and to some extent in the knowledge-enhancing role for tactical decisions. While there is a greater appreciation among senior managers and the finance and accounting managers of the importance of customer voice, this study finds clear limits in its utilisation and more reliance on traditional finance and accounting data, especially in strategic decision-making.
Research limitations/implications
The cases belong to a highly visible open environment of hotels in an industry where customer voice has immediate and strong effects. The findings may not directly apply to industries characterised by a relatively more closed context such as banking or insurance. Moreover, the findings reflect the practices of high-performing hotels and do not necessarily capture the practices used in less successfully operating hotels.
Practical implications
While marketers need to enhance their ability to create a narrative that links the customer voice to revenue generation, finance managers also need to develop a skillset and adopt a mindset that appropriately reflects the influential role for customer voice in managerial decision-making.
Originality/value
Despite the linkage of marketing performance to business performance, there is limited research on the impact of customer information on managerial decision-making. This research provides insight into how customer voice is considered at the critical marketing-finance interface.
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Sri Rahayu Hijrah Hati, Muhammad Budi Prasetyo and Nur Dhani Hendranastiti
The study aims to examine the difference of financial-based brand equity of Sharia-compliant and non-Sharia-compliant companies listed in the stock market.
Abstract
Purpose
The study aims to examine the difference of financial-based brand equity of Sharia-compliant and non-Sharia-compliant companies listed in the stock market.
Design/methodology/approach
The five-year data were collected from 561 companies listed in the Indonesian stock market (349 Sharia-compliant firms and 212 non-Sharia-compliant firms).
Findings
Based on five years of observations, the study shows that Sharia-compliant companies have much higher brand equity than companies that are not Sharia-compliant. However, the study did not find consistent results when the study examined the differences between brand equity in newly listed Sharia-compliant firms in the short run (two-quarters of the observations). In other words, Sharia-compliant status positively impacted a company’s brand equity only in the long run.
Research limitations/implications
The study examines only the brand equity of Sharia- and non-Sharia-compliant companies in the Indonesian stock market.
Practical implications
The study suggests that companies should list their equity in the Islamic stock market as the empirical evidence shows that the companies listed in the Sharia index have much higher brand equity than companies listed in the non-Sharia index, although this impact can only be seen in the long run.
Originality/value
The study integrates finance and marketing perspectives, which are often disconnected in daily business. In addition, the study provides a piece of empirical evidence on the effect of financial decision to be listed in the Islamic stock market on the establishment of brand equity, which represents the long-term intangible assets of the firm in the eyes of the customers.
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Boban Melović, Marina Dabić, Milica Vukčević, Dragana Ćirović and Tamara Backović
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…
Abstract
Purpose
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.
Design/methodology/approach
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.
Findings
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.
Research limitations/implications
The fact that the survey only covers companies from one country is its limitation.
Practical implications
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.
Social implications
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.
Originality/value
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.
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Boban Melović, Milica Vukčević and Marina Dabić
The aim of this paper is to show how a bank's brand value is quantitatively assessed using the Interbrand methodology, taking into account the specifics of the banking market…
Abstract
Purpose
The aim of this paper is to show how a bank's brand value is quantitatively assessed using the Interbrand methodology, taking into account the specifics of the banking market. Therefore, the objective of this paper is to review the ways in which brands contribute to the higher market value of banks by strengthening intellectual capital (IC), as reflected in increased levels of competitiveness and the reputation that the bank maintains in the minds of customers.
Design/methodology/approach
This paper applies the Interbrand methodology, which indicates that the assessment of brand value implies the determination of economic profit as the difference between the net operating profit after tax and the cost of capital. The brand profit is then calculated as the product of the economic profit and the index of the brand role. Brand value is obtained as the product of the brand's profit and the discount rate of the brand. In order to further test the results obtained through the application of the Interbrand methodology, linear regression was applied to the panel data in order to provide more efficient econometric estimates of the model parameters.
Findings
This research has shown that the Interbrand methodology's empirical foundations lie in the Montenegrin banking market, but also that, out of all of the analyzed parameters, the greatest significance is obtained from the profit of the brand, which influences the value of bank brands.
Research limitations/implications
This research is related to the service sector–in this case, financial services – meaning that it is necessary to adjust the calculation of the weighted average cost of capital. Although the banking sector is a very competitive market, a limitation exists in the fact that the research was conducted only in Montenegro. In other words, in order to achieve a more detailed analysis, this methodology should be applied to more countries, such as those within the Western Balkans, as they have a relatively similar level of development.
Practical implications
A main contribution of this paper is that the assessment of the banks' brand value could be useful to future investors. Therefore, the improvement of the financial sector–in this case, banks–as institutions that hold a dominant position in the financial market in Montenegro, is a particularly important issue. It is important to point out that the research conducted could serve as a means by which to bridge the gap between theory and practice, since the methodology of the consulting company Interbrand has been optimized and adjusted to the Montenegrin banking market.
Social implications
On considering the fact that most countries of the Western Balkans are at a similar level of development, the authors can conclude that, with the help of this adapted form of methodology, this research can be applied to assess banks' brand value in neighboring countries.
Originality/value
This paper serves as the basis for further research as the analysis of banking institutions that comprise both marketing and financial aspects, i.e. the application of the Interbrand methodology, was not conducted in Montenegro. Also, this paper overcomes the literal gap between theory and practice as there is little research thus far involving the application of the Interbrand methodology to the field of finance; especially in the field of banking. The authors point out the specifics of the banking sector as a key explanation for this. This is why it is necessary to make certain adjustments to the methodology. The research has positive implications for banks' internal and external stakeholders. The originality of this research is reflected in the fact that the Interbrand methodology has been optimized in order to assess the brand of banks, taking into account the specificity of the analyzed market. Brand is analyzed as a component of IC: another factor that exemplifies the value of this research.
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This paper is to explore how cross-functional integration (CFI) of production-marketing can impact the firm's build-to-order (BTO) competitiveness, marketing performance (MP) and…
Abstract
Purpose
This paper is to explore how cross-functional integration (CFI) of production-marketing can impact the firm's build-to-order (BTO) competitiveness, marketing performance (MP) and financial performance (FP).
Design/methodology/approach
Empirical study with the structural equation modeling approach is applied. Six hypotheses are constructed and tested based on survey data collected from Chinese manufacturing firms.
Findings
The survey data supports that production-marketing integration (PMI) improves BTO competitiveness (BTOC) and MP and that BTOC also positively affects marketing outcome which, in turn, impacts a firm's FP. The results reveal that CFI of production-marketing is an effective approach for achieving the BTO manufacturing strategy and can improve organizational performance.
Originality/value
The paper uncovers the role of CFI of production-marketing in BTO manufacturing strategy and its impacts on a firm's MP and FP and provides important managerial implications for practitioners to improve organizational time-based competitiveness and performance in today's time-based competition era.
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Hanna Komulainen and Saila Saraniemi
The purpose of this paper is to increase understanding about how to improve customer value and to make mobile banking services a profitable business for banks and other financial…
Abstract
Purpose
The purpose of this paper is to increase understanding about how to improve customer value and to make mobile banking services a profitable business for banks and other financial actors. The study explores the user experiences and related value of a new mobile banking service.
Design/methodology/approach
The study is implemented as a case study that is phenomenological in nature and linked to an interpretive consumer study. Empirical data were collected through 14 semi-structured theme interviews and a diary method. The data were analysed by using a content analysis method.
Findings
The findings illustrate the importance of customer centricity in the mobile banking context by identifying customer experience and related value in a new mobile banking service. The study extends current understanding of customer experience as a complex and multifaceted phenomenon by including value related to process, the use situation and the outcome, and it identifies temporality as influencing and connecting all these aspects. The study identifies several aspects that help us to understand what creates value for the customer while using mobile banking services.
Research limitations/implications
As one limitation, this study was conducted in a developed country and the findings could be different in an emerging market context. Another limitation relates to the data, as the interviewees’ age range is quite limited, ranging between 20 and 40 years. However, they represent the consumers who normally use mobile services well and thus provide reliable data about their use experiences.
Practical implications
As the banking industry is currently experiencing rapid and widespread changes and customers become more demanding, it is crucial for banks and other mobile service providers to understand the everyday lives of their customers and to integrate their future services into the customers’ value creation processes as smoothly and inseparably as possible. The findings of this study will help banks and other financial institutions to develop their strategies and operations in regard to customer-oriented thinking, which will further help them to create long-term, profitable customer relationships and improve future viability.
Originality/value
The study contributes to bank marketing research and extends previous research on customer-centred service marketing by providing a framework that identifies the value related to customer experience in a new mobile banking service. It explores the experiences of actual mobile banking service customers’ and the related value, and thus provides original implications for both theory and practice.
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The purpose of this paper is to present a framework of ideation pathways that organically extend the current stock of knowledge to generate new and useful knowledge. Although…
Abstract
Purpose
The purpose of this paper is to present a framework of ideation pathways that organically extend the current stock of knowledge to generate new and useful knowledge. Although detailed, granular guidance is available in the strategy literature on all aspects of empirically testing theory, the other key aspect of theory development – theory generation – remains relatively neglected. The framework developed in this paper addresses this gap by proposing pathways for how new theory can be generated.
Design/methodology/approach
Grounded in two foundational principles in epistemology, the Genetic Argument and the open-endedness of knowledge, I offer a framework of distinct pathways that systematically lead to the creation of new knowledge.
Findings
Existing knowledge can be deepened (through introspection), broadened (through leverage) and rejuvenated (through innovation). These ideation pathways can unlock the vast, hidden potential of current knowledge in strategy.
Research limitations/implications
The novelty and doability of the framework can potentially inspire research on a broad, community-wide basis, engaging PhD students and management faculty, improving knowledge, democratizing scholarship and deepening the societal footprint of strategy research.
Originality/value
Knowledge is open-ended. The more we know, the more we appreciate how much we don’t know. But the lack of clear guidance on rigorous pathways along which new knowledge that advances both theory and practice can be created from prior knowledge has stymied strategy research. The paper’s framework systematically pulls together for the first time the disparate elements of transforming past learning into new knowledge in a coherent epistemological whole.
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Rickard Enstroem and Rodney Schmaltz
This study investigates the impact of large-scale teaching in higher education on students’ preparedness for the workforce within the context of evolving labour market demands…
Abstract
Purpose
This study investigates the impact of large-scale teaching in higher education on students’ preparedness for the workforce within the context of evolving labour market demands, the expansion of higher education and the application of high-impact teaching strategies. It synthesizes perspectives on employer work readiness, the challenges and opportunities of large-scale teaching and strategies for fostering a dynamic academia-industry feedback loop. This multifaceted approach ensures the relevance of curricula and graduates’ preparedness while addressing the skills gap through practical recommendations for aligning teaching methodologies with employer expectations.
Design/methodology/approach
The research methodically examines the multifaceted challenges and opportunities inherent in large-scale teaching. It focuses on sustaining student engagement, maintaining educational quality, personalizing learning experiences and cultivating essential soft skills in extensive student cohorts.
Findings
This study highlights the critical role of transversal skills in work readiness. It also uncovers that despite its challenges, large-scale teaching presents unique opportunities. The diversity of large student groups mirrors modern workplace complexities, and technological tools aid in personalizing learning experiences. Approaches like peer networking, innovative teaching methods, real-world simulations and collaborative resource utilization enrich education. The importance of experiential learning for augmenting large-scale teaching in honing soft skills is emphasized.
Originality/value
This manuscript contributes to the discourse on large-scale teaching, aligning it with employer expectations and the dynamic requirements of the job market. It offers a nuanced perspective on the challenges and opportunities this educational approach presents, providing insights for crafting engaging and effective learning experiences in large cohorts. The study uniquely integrates experiential learning, co-creation in education and industry-academia feedback loops, underscoring their importance in enhancing student work readiness in large-scale teaching.
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Deepak Kumar, B.V. Phani, Naveen Chilamkurti, Suman Saurabh and Vanessa Ratten
The review examines the existing literature on blockchain-based small and medium enterprise (SME) finance and highlights its trend, themes, opportunities and challenges. Based on…
Abstract
Purpose
The review examines the existing literature on blockchain-based small and medium enterprise (SME) finance and highlights its trend, themes, opportunities and challenges. Based on these factors, the authors create a framework for the existing literature on blockchain-based SME financing and lay down future research paths.
Design/methodology/approach
The review follows a systematic approach. It includes 53 articles encompassing multiple dimensions of blockchain-based SME finance, including peer-to-peer lending platforms, supply chain finance (SCF), decentralized lending protocols and tokenization of assets. The review critically evaluates these approaches' theoretical underpinnings, empirical evidence and practical implementations.
Findings
The review demonstrates that blockchain-based SME finance holds significant promise in addressing the credit gap by leveraging blockchain technology's decentralized and transparent nature. Benefits identified include reduced information asymmetry, improved access to financing, enhanced credit assessment processes and increased financial inclusion. However, the literature acknowledges several challenges and limitations, such as regulatory uncertainties, scalability issues, operational complexities and potential security risks.
Originality/value
The article contributes to the growing knowledge of blockchain-based SME finance by synthesizing and evaluating the existing literature. It also provides a framework for the existing literature in the area and future research paths. The study offers insights for researchers, policymakers and practitioners seeking to understand the potential of blockchain technology in filling the SME credit gap and fostering economic development through improved access to finance for SMEs.
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Noemi Sinkovics and Jason Archie-acheampong
This study aims to investigate how different academic fields within and outside of international business (IB) engage with the topics of social value creation in the context of…
Abstract
Purpose
This study aims to investigate how different academic fields within and outside of international business (IB) engage with the topics of social value creation in the context of multinational enterprises (MNEs). The aim is to take stock of the main themes and offer suggestions for future research avenues.
Design/methodology/approach
The paper undertakes a scoping review. The authors use the Web of Science database to identify relevant articles. The database search yielded 466 articles. The NVivo software was used to code and identify key thematic areas.
Findings
The matrix analysis performed in NVivo yielded 15 main thematic areas spanning 37 research fields. However, further analysis revealed that 89 per cent of the articles originated from 13 fields. Furthermore, while IB journals represent the second-largest field home to publications related to the social value creation of MNEs, they only account for 12 per cent of the sample.
Originality/value
The paper responds to prior calls to reduce disciplinary silos through the performing of a thematic analysis across a multitude of research fields.
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