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Open Access
Article
Publication date: 5 September 2023

Simone Guercini

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…

2179

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.

Details

Management Decision, vol. 61 no. 13
Type: Research Article
ISSN: 0025-1747

Keywords

Open Access
Article
Publication date: 11 October 2021

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…

9772

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.

Details

Journal of Knowledge Management, vol. 25 no. 11
Type: Research Article
ISSN: 1367-3270

Keywords

Open Access
Article
Publication date: 22 April 2020

Theresa Eriksson, Alessandro Bigi and Michelle Bonera

This paper explores if and how Artificial Intelligence can contribute to marketing strategy formulation.

25639

Abstract

Purpose

This paper explores if and how Artificial Intelligence can contribute to marketing strategy formulation.

Design/methodology/approach

Qualitative research based on exploratory in-depth interviews with industry experts currently working with artificial intelligence tools.

Findings

Key themes include: (1) Importance of AI in strategic marketing decision management; (2) Presence of AI in strategic decision management; (3) Role of AI in strategic decision management; (4) Importance of business culture for the use of AI; (5) Impact of AI on the business’ organizational model. A key consideration is a “creative-possibility perspective,” highlighting the future potential to use AI not only for rational but also for creative thinking purposes.

Research limitations/implications

This work is focused only on strategy creation as a deliberate process. For this, AI can be used as an effective response to the external contingencies of high volumes of data and uncertain environmental conditions, as well as being an effective response to the external contingencies of limited managerial cognition. A key future consideration is a “creative-possibility perspective.”

Practical implications

A practical extension of the Gartner Analytics Ascendancy Model (Maoz, 2013).

Originality/value

This paper aims to contribute knowledge relating to the role of AI in marketing strategy formulation and explores the potential avenues for future use of AI in the strategic marketing process. This is explored through the lens of contingency theory, and additionally, findings are expressed using the Gartner analytics ascendancy model.

Details

The TQM Journal, vol. 32 no. 4
Type: Research Article
ISSN: 1754-2731

Keywords

Open Access
Article
Publication date: 1 March 2024

Ahsan Siraj, Yongming Zhu, Shilpa Taneja, Ehtisham Ali, Jiaxin Guo and Xihui Chen

With rapidly changing marketing landscape, nowadays, the formulation of various marketing strategies is increasingly focused on how consumers tend to make decisions. To meet the…

Abstract

Purpose

With rapidly changing marketing landscape, nowadays, the formulation of various marketing strategies is increasingly focused on how consumers tend to make decisions. To meet the highly demanding consumer expectations, market segmentation can be used as an important marketing strategy. Due to gender marketing concept familiarity in the contemporary world, gender difference is one of the reference features in the process of market segmentation for marketers. This research is aimed to examine various determining factors that foster consumer purchase decision-making and the differences between consumers of different genders while making shopping and purchase decisions with special reference to an emerging economy, i.e. Pakistan.

Design/methodology/approach

Based on a cross-sectional sample of 367 consumers, the study adapted Sproles and Kendall's (1986) Consumer Style Inventory (CSI) to scrutinize the decision-making of both genders in Pakistan. For data analysis, the exploratory and confirmatory factor analysis in addition to the structural equation modeling has been used.

Findings

The study emphasized that, with the exception of quality awareness, brand consciousness, fashion consciousness, option overload and price consciousness greatly affect buying decisions. In addition, when it comes to consumer purchase decision-making, significant gender variations were discovered for both fashion consciousness and price consciousness.

Originality/value

Drawing upon the distinctive cultural characteristics of Pakistan and its people, in-depth research was conducted on purchasing behaviors of Pakistani consumers and the decision-making characteristics of customers of different genders were summarized. The outcomes are expected to make a significant contribution to the field of gender marketing by organizations.

Details

Arab Gulf Journal of Scientific Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1985-9899

Keywords

Open Access
Article
Publication date: 20 July 2022

Simone Guercini and Matilde Milanesi

This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews…

4583

Abstract

Purpose

This paper aims to provide a wide picture of studies on heuristics for international decision-making with a focus on foreign market entry. This paper systematically reviews studies published in the international business and international marketing domain to examine heuristically based decisions for foreign market entry.

Design/methodology/approach

This paper proposes a systematic literature review and an in-depth analysis of 32 papers published between 1997 and 2021 dealing with foreign market entry and the use of heuristics for international decision-making.

Findings

Even if the marketing and management literature is in many ways permeable to the debate around heuristics developed in experimental psychology and cognitive science, international business and international marketing studies on the one hand recognize that international decision-making, especially when dealing with foreign market entry, is strongly characterized by uncertainty, on the other hand, there isn’t a developed and systematized literature about it. This paper shows key topics and areas fundamental to foreign market entry in which heuristics are applied by decision makers and their effectiveness.

Originality/value

A systematic review of the use of heuristics for foreign market entry decision-making can represent a useful step for a more organic development of knowledge about the more general use of heuristics for international decision-making. Understanding the decision-making process on the modes of entry in foreign markets is a key topic for international marketing and international business scholars and practitioners.

Details

Management Research Review, vol. 45 no. 9
Type: Research Article
ISSN: 2040-8269

Keywords

Open Access
Article
Publication date: 13 February 2018

Jalal Rajeh Hanaysha

The purpose of this paper is to examine the effects of corporate social responsibility, social media marketing, sales promotion, store environment and perceived value on a…

109390

Abstract

Purpose

The purpose of this paper is to examine the effects of corporate social responsibility, social media marketing, sales promotion, store environment and perceived value on a purchase decision in the retail sector.

Design/methodology/approach

A quantitative research methodology was used and the data were collected from 278 customers of retail stores in Malaysia. The collected data were analysed using SPSS 19 and structural equation modelling on AMOS.

Findings

The findings showed that corporate social responsibility has significant positive effects on a purchase decision, whereas sales promotion has a negative effect on purchase decision. The outcomes of this study also indicated that store environment has a significant positive effect on consumers’ purchase decisions. Contrary to expectations, the findings revealed that the effect of social media marketing on purchase decision is insignificant. Finally, the results showed that perceived value has a significant positive effect on a purchase decision.

Originality/value

The findings of this study contribute to an understanding of the importance of the selected factors in affecting a consumer’s purchase decision in the retail industry.

Details

PSU Research Review, vol. 2 no. 1
Type: Research Article
ISSN: 2399-1747

Keywords

Open Access
Article
Publication date: 9 November 2023

Paola Andrea Ortiz-Rendon, Jose Luis Munuera-Aleman and Luz Alexandra Montoya Restrepo

The implementation of control systems allows marketing managers to improve operational decisions and organizational results. This paper aims to identify the relationship between…

Abstract

Purpose

The implementation of control systems allows marketing managers to improve operational decisions and organizational results. This paper aims to identify the relationship between control combinations and organizational results and analyze the relationships between the variables attributed to the marketing managers and with marketing control combinations. Decisions involving marketing control combine formal and informal mechanisms and generate control systems that have a favorable relationship with organizational results.

Design/methodology/approach

The paper is based on 301 cross-sectional surveys among marketing managers. The classification procedure based on metric distance was implemented to identify the marketing control combinations. A hierarchical cluster analysis was carried out with perceptions about formal and informal control, to validate the control combination classifications. Finally, a discriminant analysis and ANOVA test were carried out for exploring factors associated with the managers. The data analysis was supported by IBM SPSS Statistics 24 software.

Findings

The authors found evidence that, when managers perceive high-control systems, the perception of non-financial and financial results is always better, but the presence of high-clan control also returns optimal results. In addition, the manager's satisfaction levels and work motivation are higher with high control systems than with other control systems.

Originality/value

This study contributes to the existing knowledge by providing a broader empirical basis to extend conceptual frameworks about marketing control combinations that emerge in practice.

研究目的

企業設置營銷控制系統來進行營銷控制,這可讓市場經理能改善其營運決策和組織成果。本文擬確定控制合併與組織成果的關係;本文亦擬分析涉及市場經理的變數與營銷控制合併的關係。涉及營銷控制的決策會結合正式和非正式的機制,而這些決策會帶來與組織成果有良性關係的控制系統。

研究方法

本研究乃基於對市場經理進行的301項橫斷調查。研究人員實施基於度量距離的分類程式,來確定營銷控制合併;為了證實有關的控制合併分類是正確的,研究人員就對正式控制和非正式控制的觀感和看法、進行了階層式分群法分析;最後,研究人員進行了判別分析和變異數分析 (ANOVA), 以探索與經理有關聯的因素。有關的數據分析得到IBM公司的SPSS (統計產品與服務解決方案) Statistics 24 (統計軟體) 的支持。

研究結果

我們證實了、若主管感知高控制的系統,其對非財務結果和財務結果的看法必會較好的,但高社群控制亦會帶來最佳的結果。我們亦證實了高控制系統,較其它控制系統,更能提高主管的滿意程度和工作動機。

研究的原創性

本研究提供了一個更廣闊的經驗基礎,以擴展涉及在實踐中出現的營銷控制合併的概念框架,就此,本研究豐富了這方面的知識。

Details

European Journal of Management and Business Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2444-8451

Keywords

Open Access
Article
Publication date: 8 December 2021

Daniel Espinosa Sáez, Paola Andrea Ortiz-Rendón and José Luis Munuera Alemán

This paper aims to examine the relationship between control mechanisms and marketing performance based on a sample of marketing managers. To that end, this paper focuses on the…

2981

Abstract

Purpose

This paper aims to examine the relationship between control mechanisms and marketing performance based on a sample of marketing managers. To that end, this paper focuses on the relationship between the types of controls used in marketing and the market and business results.

Methodology

This study collected the data through a survey among marketing professionals with experience and decision-making capacity involving marketing budgets and plans, in practical terms a sample of 97 marketing managers and analyzed the data via a structural equation model using Smart PLS 3.

Findings

The findings confirm that marketing control mechanisms have a significant impact on business results, demonstrating the relationship of formal controls with market results and the relationship between informal controls with financial results. Likewise, the authors were able to prove that there is a relationship between formal and informal control.

Practical implications

The implementation of the control mechanisms should be based on the development of a detailed evaluation system of the activities carried out by the marketing employees and an analysis of their capabilities and abilities. In addition, managers should integrate formal control decisions into their marketing strategy to improve organizational results.

Originality

The results of this study help explain the relationship between marketing control mechanisms and organizational results and allow to understand what the level of influence is that marketing control mechanisms have on market and financial results.

Objetivo

Examinar la relación entre los mecanismos de control y los resultados a partir de una muestra de directores de marketing. Con ese fin, el documento se centra en la relación entre los tipos de controles utilizados en marketing y los resultados de mercado y financieros.

Metodología

Los datos fueron recolectados a través de una encuesta entre profesionales del marketing con experiencia y capacidad de toma de decisiones sobre presupuestos y planes de marketing. Contando con una muestra de 97 gerentes de marketing. Los datos se analizaron mediante un modelo de ecuación estructural (SEM) utilizando Smart PLS 3.

Hallazgos

Se confirma el impacto significativo de los mecanismos de control de marketing sobre los resultados organizacionales, demostrando la relación del control formal con los resultados de mercado, y la relación entre el control informal con los resultados financieros. Asimismo, se pudo comprobar que existe una relación entre el control formal e informal.

Originalidad

Los resultados ayudan a explicar la relación entre los mecanismos de control de marketing y los resultados organizacionales, y permiten comprender cuál es el nivel de influencia que tienen los mecanismos de control de marketing sobre los resultados de mercado y los financieros.

Implicaciones prácticas

La implementación de los mecanismos de control debe basarse en el desarrollo de un sistema de evaluación detallado de las actividades realizadas por los empleados de marketing y un análisis de sus capacidades y habilidades. Además, los gerentes deben integrar las decisiones de control formal en su estrategia de marketing para mejorar los resultados organizacionales.

Palabras clave

Control formal, Control informal, Resultados de mercado, Resultados financieros, Departamento de marketing, Calidad del producto, Cobertura de mercado, Precio relativo, Valor de la marca, Lealtad, Marketing digital

Tipo de artículo – Trabajo de investigacion

目的

基于对营销经理的抽样调查, 研究控制机制与营销业绩之间的关系。为此, 本文着重研究了市场营销中使用的控制类型与市场和经营结果之间的关系。

设计/方法/途径

我们通过对具有涉及营销预算和计划的经验和决策能力的营销专业人员的调查来收集数据, 实际上是对97名营销经理的抽样调查, 并通过使用Smart PLS 3的结构方程模型(SEM)来分析数据。

研究结果

研究结果证实, 营销控制机制对商业结果有重大影响, 证明了正式控制与市场结果的关系, 以及非正式控制与财务结果的关系。同样, 我们也能够证明正式控制和非正式控制之间存在着关系。

原创性/价值

本研究的结果有助于解释营销控制机制与组织结果之间的关系, 使我们能够了解营销控制机制对市场和财务结果的影响程度如何。

实践意义

控制机制的实施应该建立在对营销员工所进行的活动制定详细的评估体系, 以及对他们的能力和水平进行分析的基础上。此外, 管理者应将正式的控制决策纳入其营销战略, 以提高组织结果。

关键词

正式控制;非正式控制;市场结果;财务结果;营销部门;产品质量;市场覆盖率;相对价格;品牌价值;忠诚度;数字营销

纸张类型 – 研究论文

Open Access
Article
Publication date: 15 March 2022

Elisabete Sá, Minoo Farhangmehr, José Carlos Pinho and Sally Dibb

This paper aims to deepen the understanding of the marketing process and practices taking place during the initial stages of the company development, by revealing the distinct…

1903

Abstract

Purpose

This paper aims to deepen the understanding of the marketing process and practices taking place during the initial stages of the company development, by revealing the distinct entrepreneurial marketing process and mix resulting from the entrepreneurs’ decision-making process.

Design/methodology/approach

Using the critical incident technique, the study analyzes 146 marketing decisions made by entrepreneurs. The resulting marketing activities are aligned in a process and compared with the mainstream managerial marketing process.

Findings

The results provide the basis for an entrepreneurial marketing framework with four phases: product creation – product–market fit – market expansion – refocus. An entrepreneurial marketing mix is also proposed, consisting of productisement, people and proof of value.

Originality/value

While the managerial marketing process is well established, the entrepreneurial marketing process remains largely uncharted. The framework provided contributes to identifying the main marketing concerns and understanding how the marketing process is implemented by entrepreneurs in the earlier phases of the firm. Practical suggestions are offered regarding the marketing operations of the new firms and the critical marketing aspects to consider.

Details

Journal of Research in Marketing and Entrepreneurship, vol. 24 no. 2
Type: Research Article
ISSN: 1471-5201

Keywords

Open Access
Article
Publication date: 16 February 2022

Luis-Alberto Casado-Aranda and Juan Sanchez-Fernandez

This study aims to illuminate the contribution of neurophysiological techniques in the field of marketing and consumer decision-making and to highlight avenues and research…

5512

Abstract

Purpose

This study aims to illuminate the contribution of neurophysiological techniques in the field of marketing and consumer decision-making and to highlight avenues and research questions that marketing researchers can take advantage of from neuroscience and psychology to inform marketing phenomena.

Methodology

The authors first reviewed the roots and definition of consumer neuroscience. Then, the authors outlined the main characteristics of the most commonly used neurophysiological tools (namely, skin conductance, facial electromyography, electrocardiogram, eye-tracking, electroencephalography, functional magnetic resonance imaging, functional near-infrared spectroscopy, magnetoencephalography and transcranial magnetic stimulation) with a special emphasis on their advantages and weaknesses. Finally, the authors propose the development of research lines that could be implemented by marketing researchers with an appropriate application and understanding of tools and theories of neuroscience and psychology.

Findings

The authors propose research questions to be addressed within four thematic areas: opportunities in product decisions (predicting product purchasing decisions, consumer responses to branding efforts and packaging), pricing, communication and retailing scenarios. The authors also incorporate insights into the complementarity of neurophysiological tools to traditional ones and situations in which these tools are useful for enhancing marketing theory. The authors finally shed light on the moral–ethical criticisms of this new branch of marketing.

Value

To the best of the authors’ knowledge, this research constitutes the first study in identifying the research opportunities that marketing researchers could take advantage from neuroimaging and physiological tools to inform marketing theory and practice.

Propósito

Esta investigación tiene como objetivo esclarecer la contribución de las técnicas neurofisiológicas en el campo del marketing y la toma de decisiones de los consumidores y destacar las vías y preguntas de investigación que los investigadores de marketing pueden aprovechar de la neurociencia y la psicología para informar sobre los fenómenos del marketing.

Planteamiento

En primer lugar, revisamos el origen y la definición de la neurociencia del consumidor. A continuación, esbozamos las principales características de las herramientas neurofisiológicas más utilizadas (a saber, la conductancia, la electromiografía facial, el electrocardiograma, el seguimiento ocular, la electroencefalografía, la resonancia magnética funcional, la espectroscopia funcional en el infrarrojo cercano, la magnetoencefalografía y la estimulación magnética transcraneal), haciendo especial hincapié en sus ventajas y debilidades. Finalmente, se propone el desarrollo de líneas de investigación que podrían ser implementadas por los investigadores de marketing con una adecuada aplicación y comprensión de las herramientas y teorías de la neurociencia y la psicología.

Resultados

Proponemos preguntas de investigación para ser abordadas dentro de cuatro áreas temáticas: oportunidades en las decisiones de producto (predicción de las decisiones de compra de productos, respuestas de los consumidores a los esfuerzos de marca y envasado), precios, comunicación y distribución. También incorporamos ideas sobre la complementariedad de las herramientas neurofisiológicas con las tradicionales y las situaciones en las que estas herramientas son útiles para mejorar la teoría del marketing. Por último, arrojamos luz sobre las críticas ético-morales a esta nueva rama del marketing.

目的

本研究旨在阐明神经生理学技术在营销和消费者决策领域的贡献, 并强调营销研究人员可以从神经科学和心理学中利用的途径和研究问题, 以告知营销现象。

方法

我们首先回顾了消费者神经科学的根基和定义。然后, 我们概述了最常用的神经生理学工具(即皮肤电导率、面部肌电图、心电图、眼球追踪、脑电图、功能性磁共振成像、功能性近红外光谱、脑磁图和经颅磁刺激)的主要特点, 特别强调了它们的优势和劣势。最后, 我们提出了研究路线的发展, 这些路线可以由营销研究人员通过适当的应用和理解神经科学和心理学的工具和理论来实施。

研究结果

我们提出了四个主题领域的研究问题:产品决策中的机会(预测产品购买决策、消费者对品牌推广工作的反应和包装)、定价、沟通和零售场景。我们还纳入了对神经生理学工具与传统工具的互补性的见解, 以及这些工具对加强营销理论有用的情况。最后, 我们对这个新的营销分支的道德伦理批评进行了说明。

纸张类型 – 研究论文

1 – 10 of over 8000