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Article
Publication date: 29 May 2023

Naushaba Chowdhury, Pravin Balaraman and Jonathan Liu

Over the last five decades, business to business (B2B) marketing has evolved from a transactional model to a behavioral model. This evolution is a consequence of the rise in…

1034

Abstract

Purpose

Over the last five decades, business to business (B2B) marketing has evolved from a transactional model to a behavioral model. This evolution is a consequence of the rise in thoughts of managing customer journeys, services marketing and acknowledging value co-creation amongst stakeholders. The contemporary B2B marketing strategies of relationship, innovation, sustainability and digital marketing that emerge through the literature review are discussed to demonstrate how they add value to the competitive advantage of firms and facilitate co-creation between business partners to help design the customer journey. The purpose of the paper is to discuss how the apparel industry could implement the B2B marketing strategies highlighted and further suggests a framework of value co-creation. The framework shows the journey between business partners followed by the value propositions as service exchange through resource integration within the service ecosystem.

Design/methodology/approach

Through a review of the literature, the evolution of B2B marketing unveils the importance of services marketing and how the marketing strategies discussed add value to the services marketing, this is further explored with propositions of value co-creation between business partners. The propositions are based on the theory of service dominant logic, whereby, the partners in the service ecosystem co-create value from value propositions offered by the business partners in collaboration with supply chain innovation.

Findings

A framework is suggested in the context of the apparel industry that demonstrates the value propositions as a part of the B2B marketing strategy. Through resource integration and collaboration between the business partners, the value propositions in the form of services, are exchanged resulting in value co-creation that leads to the ultimate offering to the end customer.

Research limitations/implications

The service dominant logic theory and the supply chain innovation model are the basis of the framework, showing the value propositions made, are in collaboration between the firm and the supply chain partners. The value propositions in the form of services are exchanged as an outcome of resource integration amongst the business partners resulting in value co-creation which will aid apparel manufacturers differentiate their services and manage customer journeys better. The framework will be further researched through primary research to determine its rationality in the real-world context. The nature of the industry being fast paced, the literature will be outdated in a short span of time and with the vast growth, new strategies will need to be executed eventually.

Practical implications

The paper discusses how the apparel industry can move forward with the B2B marketing strategies highlighted through the literature review and further suggests a framework of value co-creation. This will aid apparel manufacturers to focus their marketing efforts in an era of services marketing and compete better globally with service offerings.

Social implications

The competitive advantage strategies and other key emerging themes of co-creation, value co-creation and customer journeys are highlighted and shows increasing importance to the survival of businesses in an era of service orientation and relationship marketing.

Originality/value

Through a critical literature review of B2B marketing strategies and with the use of theoretical models of service dominant logic and supply chain innovation, the conceptual paper proposes a framework by the authors that allows future research to analyse value co-creation in B2B marketing strategies for the apparel industry.

Details

Journal of Strategy and Management, vol. 16 no. 4
Type: Research Article
ISSN: 1755-425X

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.

25385

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

Article
Publication date: 29 March 2011

Nicolette LeCren and Lucie K. Ozanne

This research aims to present an exploratory study of the consequences of environmental marketing strategies in New Zealand organisations. In general, empirical research on the…

3074

Abstract

Purpose

This research aims to present an exploratory study of the consequences of environmental marketing strategies in New Zealand organisations. In general, empirical research on the impact of environmental practices on organisational outcomes is limited and inconclusive, thus a greater understanding of the consequences associated with successful corporate environmental (CE) organisations is needed.

Design/methodology/approach

Eight in‐depth interviews were conducted with leading and proactive CE organisations in New Zealand.

Findings

General consequences including innovation, strategic alliances, and improved public relations were found in addition to consequences specifically related to product/service, process‐, and project‐dominant environmental marketing strategies. Negative consequences were also identified.

Research limitations/implications

Owing to the broad nature of the study, it is not possible to make substantial inferences between different industries or specific organisation types and environmental marketing strategies. The size of the sample further limits data generalisability.

Practical implications

Practically, it is anticipated the research will provide guidance for marketing and management leaders in organisations to gain a greater understanding of the consequences associated with environmental strategies. Managers need awareness of the potential impacts of choosing an environmental orientation and strategy.

Originality/value

This research provides the first empirical evidence regarding the consequences for CE organisations except those with previous support relating to organisation performance, brand attitude, employee attitude, and employee commitment and esprit de corps. Several new consequences not previously suggested in previous literature are identified.

Details

Marketing Intelligence & Planning, vol. 29 no. 2
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 29 April 2014

Anatoliy G. Goncharuk and Maryna Getman

The paper is devoted to benchmark strategic ideas, organizational culture, marketing business processes and key marketing performance measures of the pharmaceutical companies that…

2992

Abstract

Purpose

The paper is devoted to benchmark strategic ideas, organizational culture, marketing business processes and key marketing performance measures of the pharmaceutical companies that operate on Ukrainian pharma market in order to determine the best practices and possibilities of their use for the purpose of improving performance outcomes of companies participating in the research.

Design/methodology/approach

The AllFusion Process Modeler 7 software was used for processes modeling. The Balanced Scorecard Designer software was used to create balanced scorecard. The classifier of processes at pharmaceutical companies designed by American Productivity and Quality Center (APQC) was used when determining marketing processes and building process maps. A marketing analysis (value market share, share of voice, secondary sales dynamics and companies' market share growth dynamics) was carried out in order to estimate the efficiency of marketing process.

Findings

The study showed that three pharmaceutical companies have different strategic aims, mission and vision. For the global companies, a strategic aim is “Market takeover”, while the local company tries just to retain its position on the market due to some historically prevailing conditions. The study showed that local company's management does not consider marketing as a driving force of the development and sales growth; that is why company lacks marketing culture and marketing department as such is substituted with sales and distribution department. The authors find the needs of structural changes in order to develop, yield profit and avoid acquisition by local pharmaceutical company using the better practice of the global companies.

Research limitations/implications

The research is limited by a little number of companies (three) and one country market (Ukraine).

Practical implications

The study includes practical recommendations focused on the improvement of financial indicators and profitability of the local pharmaceutical company with a use of benchmarking tools. They can be useful for the other local companies that try to compete with global pharmaceutical companies on the local markets.

Originality/value

This paper adopts the various benchmarking tools to improve a strategy and marketing processes for pharmaceutical companies.

Details

Benchmarking: An International Journal, vol. 21 no. 3
Type: Research Article
ISSN: 1463-5771

Keywords

Book part
Publication date: 26 February 2008

Leslie H. Vincent

This chapter provides an overview of the marketing strategy development process in the commercialization of breakthrough technologies. Important concepts and elements that are…

Abstract

This chapter provides an overview of the marketing strategy development process in the commercialization of breakthrough technologies. Important concepts and elements that are considered critical when developing market applications are presented with emphasis on three key decisions: target market selection, segmentation, and positioning. These strategic decisions will guide the more tactical considerations relating to the specific elements, or marketing mix, of the product's marketing strategy. Marketing strategy development is a dynamic process impacted by many factors. This chapter highlights the dynamic nature of this process as well as provides insight into the fundamental considerations in strategy formulation.

Details

Technological Innovation: Generating Economic Results
Type: Book
ISBN: 978-1-84950-532-1

Article
Publication date: 3 November 2023

Abrar Ali Saiyed, Ateeque Shaikh and Suruchika Gupta

The primary aim of this study is to gain insight into the entrepreneurial marketing strategy (EMS) decisions made by microenterprises in the craft sector and draw comparisons…

Abstract

Purpose

The primary aim of this study is to gain insight into the entrepreneurial marketing strategy (EMS) decisions made by microenterprises in the craft sector and draw comparisons between the marketing strategy formulation and implementation of conventional businesses and those of craft-based microenterprises with a specific focus on the context of emerging markets, particularly India.

Design/methodology/approach

This paper follows a qualitative interpretivist paradigm using a multiple-case methodology approach. It tracks craft-based microenterprises that make furniture or home décor products in India. The study participants were the founders, principal designers, studio managers or craftspersons.

Findings

This study’s findings reveal that craft-based microenterprises implement an EMS that adopts a hybrid form of market orientation strategy. In this approach, the product or creative concept is at the centre of the decision-making, and the customer needs are factored in at a later stage for customisation. These microenterprises prioritise product positioning over segmentation and targeting strategies.

Research limitations/implications

This study tries to understand marketing strategy decision-making processes among craft-based microenterprises in India. Given that study participants came from only two-product-based craft businesses, this limits the generalisability of the findings to similar or related contexts. This study provides a framework and methodology for replication in other contexts and industries to formulate a nuanced understanding of micro, context-specific, craft-based businesses.

Originality/value

This study uses qualitative analysis to understand EMS in craft-based businesses in India. This study contributes to this fledgling stream of literature at the interface of marketing and entrepreneurship to understand entrepreneurial marketing. This study analyses the marketing strategy of craft-based businesses using the framework of Morgan et al. (2019).

Details

Journal of Research in Marketing and Entrepreneurship, vol. 26 no. 2
Type: Research Article
ISSN: 1471-5201

Keywords

Article
Publication date: 6 June 2016

Yen Hsu

The purpose of this study is to propose a model of a value cocreation strategy (VCS) for analyzing how enterprises adopt innovative, marketing, and design strategies to achieve…

2715

Abstract

Purpose

The purpose of this study is to propose a model of a value cocreation strategy (VCS) for analyzing how enterprises adopt innovative, marketing, and design strategies to achieve their performance goals through cocreation.

Design/methodology/approach

In the present study, a case study was conducted to establish a preliminary model. Subsequently, 1,000 NPD project managers in information and communications technology industries were approached to complete a two-stage questionnaire survey. The first survey investigated the VCSs they adopted for their marketing, innovation and design activities (valid questionnaires recovered=283). The valid respondents completed a second survey measuring their NPD performance 18 months after launching a new product (valid questionnaires recovered=247).

Findings

A conceptual was constructed to explain the effects of innovation marketing and design cocreation strategies on NPD performance. A partial least squares method was used to test the model showing a good fit between the model and the survey data, indicating the applicability of the proposed model. The innovation marketing and design cocreation strategies of the enterprises affected their NPD performance. Enterprises adopting diverse cocreation strategies improved their NPD performance. The cocreation strategies in the model were independent and mediating variables to NPD performance. A qualitative comparative analysis was performed to examine which strategy configurations affected NPD performance and to explore any regular patterns in them. Finally, a cluster analysis was conducted to investigate four cocreation strategies: market development, technology improvement, cost direction and customer service.

Research limitations/implications

Whether different industry categories involve different characteristics and whether different corporate cultures cause inconsistent result in value cocreation warrants further in-depth investigation. In addition, the two surveys conducted in this study were separated by 18 months, and thus, only the short-term NPD performance could be presented. Future studies are recommended to conduct an extensive exploration of different industries, administer long-term surveys, investigate the different levels of influence of various types of enterprise on the proposed research model or examine the degree of difference in the mechanisms and methods adopted for elevating innovation performance.

Practical implications

Enterprises can reference the proposed approach to optimize their product development and services according to their organizational resources and market advantages to increase their market coverage.

Originality/value

This study was the first empirical study to examine critical factors, such as product innovation, marketing, design and value cocreation strategies, and NPD performance by administering two-stage surveys. Enterprises can reference the proposed method according to their organizational resources and market advantages to develop products and services efficiently and face the ever-changing market.

Details

Journal of Business & Industrial Marketing, vol. 31 no. 5
Type: Research Article
ISSN: 0885-8624

Keywords

Article
Publication date: 1 May 2004

Marvin E. Gonzalez, Gioconda Quesada, Rene Mueller and Carlo A. Mora‐Monge

Since the 1960s, quality function development (QFD) has been recognized worldwide as a suitable planning tool for translating customers' needs into product specifications. QFD…

3234

Abstract

Since the 1960s, quality function development (QFD) has been recognized worldwide as a suitable planning tool for translating customers' needs into product specifications. QFD methodologies, as opposed to traditional quality approaches, are most often cited as essential for advancing the competitive advantage of an organization. This paper proposes a modified approach to QFD, called “QFD strategy house”, as a systematic means of incorporating intelligence on markets, consumers and technologies in strategy development. It links marketing and manufacturing strategies by first developing a continuous improvement strategy. Both the marketing and manufacturing literatures have reported that an alignment between the two constituent strategies confers a competitive advantage in the marketplace.

Details

Marketing Intelligence & Planning, vol. 22 no. 3
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 1 September 2002

Shuliang Li, Barry Davies, John Edwards, Russell Kinman and Yanqing Duan

A hybrid approach for integrating group Delphi, fuzzy logic and expert systems for developing marketing strategies is proposed in this paper. Within this approach, the group…

2374

Abstract

A hybrid approach for integrating group Delphi, fuzzy logic and expert systems for developing marketing strategies is proposed in this paper. Within this approach, the group Delphi method is employed to help groups of managers undertake SWOT analysis. Fuzzy logic is applied to fuzzify the results of SWOT analysis. Expert systems are utilised to formulate marketing strategies based upon the fuzzified strategic inputs. In addition, guidelines are also provided to help users link the hybrid approach with managerial judgement and intuition. The effectiveness of the hybrid approach has been validated with MBA and MA marketing students. It is concluded that the hybrid approach is more effective in terms of decision confidence, group consensus, helping to understand strategic factors, helping strategic thinking, and coupling analysis with judgement, etc.

Details

Marketing Intelligence & Planning, vol. 20 no. 5
Type: Research Article
ISSN: 0263-4503

Keywords

Article
Publication date: 1 April 1999

Shuliang Li, Yanqing Duan, Russell Kinman and John S. Edwards

A framework for a hybrid intelligent support system is proposed, on the basis of a discussion of the main problems of current computer‐based support systems and the roles for…

2608

Abstract

A framework for a hybrid intelligent support system is proposed, on the basis of a discussion of the main problems of current computer‐based support systems and the roles for computer‐based systems in developing marketing strategy. The objectives of the framework are: to integrate the strengths of different support techniques and technologies; to assist strategic analysis; to couple strategic analysis with managers’ judgement; to help managers deal with uncertainty; and to aid strategic thinking. Within this framework, the benefits of different strategic analysis models are combined to offer enhanced support for a logical sequence of strategic analysis, while the advantages of diverse support techniques and technologies are integrated and fitted to support different aspects of the marketing strategy development process. As well as the theoretical basis for the proposed framework, the paper also examines the associated technical issues.

Details

Marketing Intelligence & Planning, vol. 17 no. 2
Type: Research Article
ISSN: 0263-4503

Keywords

11 – 20 of over 185000