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1 – 10 of over 205000Discusses decisions faced by marketing managers and whether answers to some important questions can be successfully answered. Examines marketing information systems (MIS…
Abstract
Discusses decisions faced by marketing managers and whether answers to some important questions can be successfully answered. Examines marketing information systems (MIS) components – the data bank, the model bank, the measurement statistics bank, and the system user interface. Posits that there are economic benefits derived from making ‘better’ marketing decisions that result in larger monetary payoffs to the firm. Suggests a systematic impact study be based on analysis of the various steps that have to be taken in constructing a decision model. States MIS aids the marketing manager in specifying the decision model and in implementing this model. Concludes the MIS designer should look at each step in the construction of the decision model in order to estimate the potential impact of the change.
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Marketing management presents challenging ground for the integrated use of intelligent agents. The design of a strategic marketing plan presents a natural division of four…
Abstract
Marketing management presents challenging ground for the integrated use of intelligent agents. The design of a strategic marketing plan presents a natural division of four distinct yet independent decision problems. Concurrent execution of these four functions can yield a significant decrease in time‐to‐market for new products, and turnaround time for modified products. Electronic information is a two‐edged sword. On the one hand, it results in information overload, taxing the decision‐ making process. On the other hand, the electronic nature of these vast information flows makes them accessible to intelligent agents who can improve the decision‐making process. This paper presents the problem of information overload and decision‐making complexity in marketing management. In it, we present a blackboard‐based agent architecture that allows individual agents to proceed toward their given goals yet react opportunistically to developments reported by other marketing agents. We present the blackboard model of problem solving, and discuss why it is well suited to support multiple marketing agents. CMA, a multi‐agent model for concurrent marketing analysis, is discussed and the agent architecture required for creating a cooperating society of marketing agents is presented.
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Martin D. Goslar and Stephen W. Brown
Information technology has made possible the recognition, acquisition, organization, and controlled retention of data from sources virtually unavailable in the past. Terms such as…
Abstract
Information technology has made possible the recognition, acquisition, organization, and controlled retention of data from sources virtually unavailable in the past. Terms such as “the information society” and “information glut” have become commonplace. High‐level corporate positions with titles such as Chief Information Officer are being created in an attempt to efficiently and effectively use information for the benefit of the organization and the society it serves. A major challenge in the 1980s is to gain and maintain the ability to use this information for competitive advantage. Decision Support Systems (DSS) enable marketing managers to integrate internal and external information environments within a decision‐making context. Useful features available within Marketing Information Systems can be incorporated with the potentials of DSS. Together the two systems can provide marketing managers with opportunities to anticipate, identify, and creatively respond to changing consumer demand.
While problem and decision analysis has attracted considerable interestin general management fields, it is not a topic commonly found in themarketing management literature…
Abstract
While problem and decision analysis has attracted considerable interest in general management fields, it is not a topic commonly found in the marketing management literature. Problem understanding and definition determine management action, and therefore deserve greater attention. Addresses the key issues in marketing management problem analysis by showing why problem definition is important; outlining the nature of marketing problems and the difficulties involved in addressing them; and providing guidelines for management and research practitioners. A diagrammatic review of several problem and decision models provides a broad view of the complex processes involved. One critical factor which comes to the fore in the discussion is the necessity for decision makers and analysts to collaborate, and several techniques for such co‐operation are presented.
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Pouria Nouri, Narges Imanipour and Abdollah Ahmadikafeshani
This study furthers the body of knowledge on entrepreneurial decision-making, entrepreneurial marketing and female entrepreneurs by exploring practical implications of heuristics…
Abstract
Purpose
This study furthers the body of knowledge on entrepreneurial decision-making, entrepreneurial marketing and female entrepreneurs by exploring practical implications of heuristics and biases in female entrepreneurs’ marketing decisions. Heuristics and biases influence many entrepreneurial decisions. Moreover, some of the most important entrepreneurial decisions are marketing-related. Given that the entrepreneurial marketing behavior emanates from entrepreneurial thinking and decision-making, one may conclude that female entrepreneurs’ marketing decisions are susceptible to heuristics and biases. This paper aims to explore the outcomes of heuristics and biases in entrepreneurial marketing decisions.
Design/methodology/approach
Data were collected by conducting semi-structured interviews with 19 Iranian female biotech entrepreneurs and analyzed by thematic analysis.
Findings
The findings indicate that introducing pioneering products to the market, overestimating product’s market appeal, unprepared entry, underestimating the competition, overcoming entry impediments, entry postponement, growth, success in incremental innovation and failure in radical innovation are the main outcomes of the identified heuristics and biases in the female entrepreneurs’ marketing decisions.
Practical implications
This paper has some precious practical implications for marketers as well as female entrepreneurs running small businesses. Generally speaking, reducing the negative impacts of the identified heuristics and biases of this study while enhancing their positive effects will increase the chances of female entrepreneurs to compete and succeed in tumultuous markets. Furthermore, our most important managerial implication is regarding overconfidence, which was very common in the female entrepreneurs’ marketing decisions by having various positive and negative outcomes. Thus, female entrepreneurs should be careful of this fateful bias in their decisions by knowing the most common signs of overconfidence.
Originality/value
This paper is unique because of not only identifying the main heuristics and biases but also their major outcomes in entrepreneurs’ major marketing decisions. Moreover, this paper is a pioneer in exploring heuristics and biases in female entrepreneurs’ decisions.
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Rita Ambarwati and Dewi Komala Sari
This study aims to determine the effect of Islamic branding, experiential marketing and word of mouth on college decisions and to find marketing strategies through strengthening…
Abstract
Purpose
This study aims to determine the effect of Islamic branding, experiential marketing and word of mouth on college decisions and to find marketing strategies through strengthening Islamic branding based on experiential marketing to increase the number of students at Muhammadiyah-Aisyiyah Higher Education.
Design/methodology/approach
This study used a quantitative method, with data collection carried out using a survey method by giving questionnaires to respondents. The respondents' criteria are active students, at least in semester three, who have studied at Muhammadiyah-Aisyiyah Higher Education in Indonesia, using a sampling technique with accidental sampling. Data analysis used Partial Least Square - Structural Equation Modeling to determine the estimated results or model predictions.
Findings
The results showed a significant direct effect of experiential marketing, Islamic branding and word of mouth on college decisions. There is an indirect effect between experiential marketing and Islamic branding on college decisions through word of mouth, but the word-of-mouth variable could not mediate the relationship between experiential marketing and Islamic branding on college decisions perfectly.
Research limitations/implications
The limitation of the results of the study is that it uses respondents who are and have participated in learning activities on the Muhammadiyah-Aisyiyah Higher Education, where the Muhammadiyah-Aisyiyah Higher Education has added value compared to other private campuses. The added value on the Muhammadiyah-Aisyiyah Higher Education is the overall learning activity based on Kemuhammadiyahan Islam in Indonesia. Islam Kemuhammadiyahan is the identity of the Islamic branding strategy on the Muhammadiyah-Aisyiyah Higher Education, which is only owned by the Muhammadiyah-Aisyiyah Higher Education.
Practical implications
This study recommends marketing strategies through strengthening Islamic branding based on experiential marketing to increase the number of students at Muhammadiyah-Aisyiyah Higher Education.
Originality/value
The novelty of this research is the addition of experiential marketing and Islamic branding variable measurements on word of mouth and college decisions, especially prospective students to study at Islamic Higher Education in Indonesia.
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This paper examines the relationship between marketing automation emergence and the marketers' use of heuristics in their decision-making processes. Heuristics play a role for the…
Abstract
Purpose
This paper examines the relationship between marketing automation emergence and the marketers' use of heuristics in their decision-making processes. Heuristics play a role for the integration of human decision-making models and automation in augmentation processes, particularly in marketing where automation is widespread.
Design/methodology/approach
This study analyzes qualitative data about the impact of marketing automation on the scope of heuristics in decision-making models, and it is based on evidence collected from interviews with twenty-two experienced marketers.
Findings
Marketers make extensive use of heuristics to manage their tasks. While the adoption of new automatic marketing tools modify the task environment and field of use of traditional decision-making models, the adoption of heuristics rules with a different scope is essential to defining inputs, interpreting/evaluating outputs and control the marketing automation system.
Originality/value
The paper makes a contribution to research on the relationship between marketing automation and decision-making models. In particular, it proposes the results of in-depth interviews with senior decision makers to assess the impact of marketing automation on the scope of heuristics as decision-making models adopted by marketers.
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Juan Florin and Alphonso O. Ogbuehi
Strategy and marketing scholars look at strategic issues from different points of view and attempt to explain strategic choice and performance from their unique perspectives. This…
Abstract
Strategy and marketing scholars look at strategic issues from different points of view and attempt to explain strategic choice and performance from their unique perspectives. This paper combines these perspectives in the context of international ventures and develops a conceptual framework integrating international marketing strategy decisions with entry mode decisions. The resulting contingency framework extends the hierarchical entry‐mode decision model and allows for a better specification of the strategy‐performance relationship in international business.
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Research concerning marketing standardisation is still developing. A new research theme has recently emerged, wherein it is suggested that the structure of marketing decision…
Abstract
Purpose
Research concerning marketing standardisation is still developing. A new research theme has recently emerged, wherein it is suggested that the structure of marketing decision making is likely to be a factor of marketing standardisation strategy. This study aims to add insights to this new research field. Based on the outcome of previous studies, it aims to propose and test a research framework concerning the relationships among environmental factors, the structure of decision making and marketing standardisation/performance. This study seeks to focus on the two most important programme elements: promotion and product.
Design/methodology/approach
The study used the experience of 78 firms operating in the European Union (EU) region to achieve its research objectives. The data used were collected through a postal survey. This analysis used both partial least square (PLS) and hierarchical regression analysis methods to examine its research framework.
Findings
The study has generated a framework for future research. It is suggested that, with the absence of direct influence, the structure of decision making is still likely to have an indirect effect on marketing standardisation strategy. Although a path relationship is unlikely to exist between environmental factors, the structure of decision making and performance, the joint effect between environmental factors and the decision‐making structure on performance is confirmed. The outcomes of the study suggest that, through careful selection, firms adopting a high and low degree centralisation structure can benefit from operating in a similar high/low environment, as well as in a country with high/low market size and potential.
Originality/value
The study's findings have enhanced those uncovered by other researchers. A number of implications can be drawn for these findings.
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Merlin Stone, Eleni Aravopoulou, Yuksel Ekinci, Geraint Evans, Matt Hobbs, Ashraf Labib, Paul Laughlin, Jon Machtynger and Liz Machtynger
The purpose of this paper is to review literature about the applications of artificial intelligence (AI) in strategic situations and identify the research that is needed in the…
Abstract
Purpose
The purpose of this paper is to review literature about the applications of artificial intelligence (AI) in strategic situations and identify the research that is needed in the area of applying AI to strategic marketing decisions.
Design/methodology/approach
The approach was to carry out a literature review and to consult with marketing experts who were invited to contribute to the paper.
Findings
There is little research into applying AI to strategic marketing decision-making. This research is needed, as the frontier of AI application to decision-making is moving in many management areas from operational to strategic. Given the competitive nature of such decisions and the insights from applying AI to defence and similar areas, it is time to focus on applying AI to strategic marketing decisions.
Research limitations/implications
The application of AI to strategic marketing decision-making is known to be taking place, but as it is commercially sensitive, data is not available to the authors.
Practical implications
There are strong implications for all businesses, particularly large businesses in competitive industries, where failure to deploy AI in the face of competition from firms, who have deployed AI to improve their decision-making could be dangerous.
Social implications
The public sector is a very important marketing decision maker. Although in most cases it does not operate competitively, it must make decisions about making different services available to different citizens and identify the risks of not providing services to certain citizens; so, this paper is relevant to the public sector.
Originality/value
To the best of the authors’ knowledge, this is one of the first papers to probe deployment of AI in strategic marketing decision-making.
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