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After completion of the case study, the students will be able to analyze the FinTech industry in emerging markets, distinguish the growth strategies for startups in the hyper-growth phase, using the Ansoff matrix, evaluate and select geographical markets for expansion (foreign country selection) and understand the liability of foreignness concept.

In 2015, Islam Shawky, Alain Al-Hajj and Mostafa Menessy founded Paymob in Egypt, a FinTech start-up providing technological and financial solutions to consumers and merchants in the country. The company had grown into one of Egypt’s most prominent digital payment providers by deploying infrastructure and technologies that empower the underserved with access to financial services. In 2021, Paymob had gained a lot of support from venture capital investors that ended with closing the largest in Egypt Series A fund of $18.5m led by Dubai-based venture capital firm Global Ventures. Although Paymob had already reached great success in Egypt, the founders’ vision was to become the regional leader of digital payments, focusing on small and medium-sized enterprises. So, they are considering regional markets similar to Egypt’s, such as the Kingdom of Saudi Arabia, a call with a lot of structure but a lot of competition, and Pakistan, a market with much less competition but relatively unstructured. The founders found themselves in early 2022 deciding between these two markets in preparation for the next round of Series B $50m funding.

This case study can be useful for courses in executive education.

Teaching notes are available for educators only.

CSS 3: Entrepreneurship.

The purpose of the paper is to investigate the marketing and communication activities carried out by small management consulting firms and how they relate to customers.

After the framing of the literature on the subject, the study is based on the results of a survey carried out through an online questionnaire. The sample under investigation is represented by 914 small consulting firms located in central Italy.

Results show that half of the sample carried out marketing and communication activities, mainly through the website and social media, while others participating in events as speakers at conferences. It also emerges that management consulting firms carry out activities aimed at maintaining relationship with customers even if they do not invest time in market research in order to find potential and new clients.

The study suggests that management consulting firms should adopt a systematic and strategic approach to communication and should develop a complete and integrated digital communication strategy, as well as to rethink the consulting business model.

There are no previous studies that provide insight into the everyday practice of marketing and communication of small management consulting services in today's dynamic and changing economic environment.

This paper aims at understanding how automotive firms integrate customer relationship management (CRM) tools and big data analytics (BDA) into their marketing strategies to enhance total quality management (TQM) after the coronavirus disease (COVID-19).

A qualitative methodology based on a multiple-case study was adopted, involving the collection of 18 interviews with eight leading automotive firms and other companies responsible for their marketing and CRM activities.

Results highlight that, through the adoption of CRM technology, automotive firms have developed best practices that positively impact business performance and TQM, thereby strengthening their digital culture. The challenges in the implementation of CRM and BDA are also discussed.

The study suffers from limitations related to the findings' generalizability due to the restricted number of firms operating in a single industry involved in the sample.

Findings suggest new relational approaches and opportunities for automotive companies deriving from the use of CRM and BDA under an overall customer-oriented approach.

This research analyzes how CRM and BDA improve the marketing and TQM processes in the automotive industry, which is undergoing deep transformation in the current context of digital transformation.

After completion of the case study, students will be able to understand the format of for-profit social enterprise working for menstrual hygiene sustainability and its contribution toward U.N. Sustainable Development Goals, to appreciate the company’s alignment with the triple bottom line framework, to analyze the blue ocean mechanism that the company has developed to create an impact and to critique the strategies the Asan Cups company could adopt to increase its market share and growth.

Asan Cups was a for-profit social enterprise founded by Ira Guha in 2021. The company crafted reusable menstrual cups from liquid silicone, sporting a patented design in India, the UK, Europe and the USA. Successfully retailing its products in India, the UK and Europe, Asan Cups operated on a bootstrap model with a compact team of four, led by its visionary founder. From the get-go, the company embraced a compelling 1-for-1 donation initiative. For every cup sold, Asan Cups generously donated another to women who could not afford it. Collaborating with nongovernmental organizations, schools, educational institutions and social workers, the company spearheaded campaigns to heighten menstrual hygiene awareness. This proactive approach aimed to boost the acceptance of menstrual cups among rural women and championed the cause of environmental sustainability. The company did not just stop at providing an eco-friendly alternative. Asan Cups fervently educated the masses on the detrimental environmental impact of traditional disposable period products like sanitary pads and tampons. Fast-forwarding to 2023, Asan Cups had garnered approximately 30,000 users, with the adoption rate steadily climbing. The company strategically used an education-intensive model to foster awareness about period products in collaboration with partners nationwide. However, being a for-profit entity, the founder, Guha, was at a crossroads. Balancing the need for profitability, there was mounting pressure to explore additional revenue streams and expand operations and market reach. The dilemma loomed large: opt for a quicker marketing strategy or stay true to the company’s foundational education-centered approach. This case study delves into the dynamic strategies, impactful operations and growth scenarios Asan Cups navigated since its inception. It examines the pivotal choices faced by the founder and explores potential strategies for sustained growth.

This case study can be used at both undergraduate and master’s levels. The case study will be handy for strategic management and business strategy courses and can also be used for social entrepreneurship, marketing and entrepreneurship courses.

Teaching notes are available for educators only.

CSS 11: Strategy.

This paper aims to develop an alternative perspective on marketing informed by service scholarship to resolve marketing’s challenges as a discipline and practice.

This paper is conceptual and builds on the ongoing debate regarding marketing’s challenges and on service research to develop a new alternative marketing perspective and model, which could contribute to reforming marketing.

An analysis of the current understanding of marketing showed that the discipline’s myopic focus on activities, which disregards what marketing is as a phenomenon, is the primary reason for the prevailing problems and failure to reform marketing. Based on research into service logic (SL), the paper demonstrates that a higher level view of service can be characterized as the provision of help to the users of goods and services to ensure that these goods and services deliver meaningful assistance in their lives and work. This suggests that the ultimate objective for marketing is to make firms meaningful to the users of their goods and services.

To the best of the author’s knowledge, since this paper is the first to conceptually develop a perspective on marketing and a corresponding model informed by service scholarship, more conceptual and empirical research is necessary. Developing the new meaningfulness-based perspective and model for marketing brings a new approach to the process of resolving marketing’s current troubled situation.

The meaningfulness approach to marketing enables customer-centered marketing strategies to be implemented. Such strategies include both demand-stimulating and demand-satisfying programs.

To the best of the author’s knowledge, this paper is the first to examine marketing’s troubled situation from a service research and SL perspective.

With the advancement of digital transformation, it is important for e-retailers to use artificial intelligence (AI) for customer engagement (CE), as CE enables e-retail brands to succeed. Essentially, AI e-marketing (AIeMktg) is the use of AI technological approaches in e-marketing by blending customer data, and Retail 4.0 is the digitisation of the physical shopping experience. Therefore, in the era of Retail 4.0, this study investigates the factors influencing the use of AIeMktg for transforming CE.

The primary data were collected from 305 e-retailer customers, and the analysis was performed using a quantitative methodology.

The results reveal that AIeMktg has tremendous applications in Retail 4.0 for CE. First, it enables marketers to swiftly and responsibly use data to anticipate and predict customer demands and to provide relevant personalised messages and offers with location-based e-marketing. Second, through a continuous feedback loop, AIeMktg improves offerings by analysing and incorporating insights from a 360-degree view of CE.

The main contribution of this study is to provide theoretical underpinnings of CE, AIeMktg, factors influencing the use of AIeMktg, and customer commitment in the era of Retail 4.0. Subsequently, it builds and validates structural relationships among such theoretical underpinning variables in transforming CE with AIeMktg, which is important for customers to expect a different type of shopping experience across digital channels.

This paper aims to identify the combination of innovation determinants driving the creation of innovative products amongst market leaders and market followers in food and beverage (F&B) firms.

This research is based on the case study methodology by using two types of data sources: (1) semi-structured interviews with industry experts and (2) in-depth interviews with managers. In addition, a questionnaire adapted from prior research was used to consider market and firm types.

Suggesting an integrated theoretical framework based on firm-based factors and market-based factors, this study identified a combination of determinants significantly impacting innovative products in the market. Specifically, these determinants are competition intensity and innovation capability (a combination of research and development (R&D) investment and marketing capabilities). The study also examined how these determinants vary depending on whether the firms are market leaders or market followers.

This research provides practical insights for managers working in the F&B industry by using case studies and exploring the determinants of developing innovative products. In doing so, suitable strategies can be selected according to the market and firm situations.

The originality of the study is shown by focussing on how different combinations of market and firm factors could be applied in creating successful innovative products in the food sector.

This paper aims to assess retail shopping avenues for young consumers based on the type of guidance and assistance they pursue (social media vs professional service provider) in purchasing situations judged to be important. Young consumers consider themselves pet parents and pets represent an extension of self. Thus, pet-related products, by their importance, represent an excellent area of analysis for this inquiry.

Data collection was completed in a way that is contextually relevant and gives the results ecological validity with the assistance of a major supplier of pet food. A total of 470 Gen Z owners of small companion animals were obtained. The partial least squares structural equation modeling testing method is considered appropriate for the model analysis due to the structure and homogeneity of the sample and due to the precision of the method.

Results indicate that, in accordance with social media engagement (SME) theory, high SME elevated social commerce purchase intentions while professional advice seekers reported increased brick-and-mortar shopping. Thus, context-dependent, young consumers may purchase from brick-and-mortar sites.

This paper draws on SME and Advice Response Theory and proposes an original model explaining channel selection preferences for young consumers based on the type of advice sought for important purchasing decisions. The model represents a steppingstone to investigate the mechanism that translates information search sources into buying through different channels.

Based on relationship marketing theory, this study aims to test the effect of social customer relationship management (social CRM) on customer satisfaction (CS) and loyalty (CL).

To assess the proposed framework, structural equation modeling was performed on the data of 314 automotive customers surveyed online.

Social CRM dimensions [traditional CRM (TCRM) and social media (SM) technology use] have a direct and positive effect on CS. On the other hand, only TCRM has a direct and significant influence on CL, while the SM technology use effect seems to be indirect rather than direct. Indeed, the findings have provided empirical support for the contention that CS plays a mediating role between social CRM dimensions and CL.

In the automotive sector and developing countries in particular, companies’ managers could increase CS and CL and consequently enhance their competitiveness and market share by adopting an effective social CRM strategy. From this perspective, companies should focus their social CRM campaigns on the most SM used by customers, offer personalized choices and improve customer experience, interaction and value co-creation.

This paper enriches the understanding of how social CRM can affect CS and CL. The scales of social CRM, CS and CL were validated in the context of developing countries and the automotive sector. Furthermore, the direct and mediating effect of CS between social CRM (TCRM and SM) and CL was also confirmed.

Basándose en la teoría del marketing relacional, este estudio pretende comprobar el efecto de la gestión social de las relaciones con los clientes (CRM social) sobre la satisfacción y la fidelidad de los clientes.

Para evaluar el marco propuesto, se realizó un modelado de ecuaciones estructurales sobre los datos de 314 clientes de automoción encuestados online.

Las dimensiones del CRM social (CRM tradicional y uso de tecnología de medios sociales) tienen un efecto directo y positivo en la satisfacción del cliente. Por otro lado, solamente el CRM tradicional tiene una influencia directa y significativa en la fidelidad del cliente, mientras que el efecto del uso de la tecnología de medios sociales parece ser más indirecto que directo. De hecho, los resultados han proporcionado apoyo empírico a la afirmación de que la satisfacción del cliente desempeña un papel mediador entre las dimensiones del CRM social y la fidelidad del cliente.

Este artículo enriquece la comprensión de cómo el CRM social puede afectar a la satisfacción y la fidelidad de los clientes. Las escalas de CRM social, satisfacción del cliente y fidelidad del cliente se validaron en el contexto de países en vías de desarrollo y del sector automovilístico. Además, también se confirmó el efecto directo y mediador de la satisfacción del cliente entre el CRM social (CRM tradicional y medios sociales) y la fidelidad del cliente.

En el sector de la automoción y en los países en desarrollo en particular, los directivos de las empresas podrían aumentar la satisfacción y fidelidad de sus clientes y, en consecuencia, mejorar su competitividad y cuota de mercado adoptando una estrategia eficaz de CRM social. Desde esta perspectiva, las empresas deberían centrar sus campañas de CRM social en los medios más utilizados por los clientes, ofrecer opciones personalizadas y mejorar la experiencia del cliente, la interacción y la cocreación de valor.

基于关系营销理论, 本研究旨在检验社会化客户关系管理（social CRM）对客户满意度和忠诚度的影响。

为评估所提出的框架, 对 314 名汽车客户的在线调查数据进行了结构方程建模。

社交客户关系管理维度（传统客户关系管理和社交媒体技术使用）对客户满意度有直接的积极影响。另一方面, 只有传统客户关系管理对客户忠诚度有直接和显著的影响, 而社交媒体技术使用的影响似乎是间接而非直接的。事实上, 研究结果为客户满意度在社交客户关系管理维度和客户忠诚度之间发挥中介作用的论点提供了实证支持。

本文丰富了人们对社交客户关系管理如何影响客户满意度和忠诚度的认识。本文以发展中国家和汽车行业为背景, 对社会化客户关系管理、客户满意度和客户忠诚度的量表进行了验证。此外, 还证实了客户满意度在社会化客户关系管理（传统客户关系管理和社会化媒体）与客户忠诚度之间的直接和中介效应。

尤其是发展中国家, 企业管理者可以通过采取有效的社交客户关系管理战略, 提高客户满意度和忠诚度, 进而增强竞争力和市场份额。从这个角度来看, 企业应将社交客户关系管理活动的重点放在客户使用最多的社交媒体上, 提供个性化选择, 改善客户体验、互动和价值共创。

This article focusses on the hybrid strategy, a simultaneous combination of cost leadership and differentiation strategy. The study aims to examine the impact of hybrid strategy on firm performance through its anticipated positive effects on process and product innovation. In addition, we study the moderating role of adaptive capacity in the direct relationships of hybrid strategy with process and product innovation.

Structural equation modelling was used to analyse 1,842 Spanish firms with fewer than 250 employees. We randomly selected small and medium-sized enterprises (SMEs) operating in Spain from the Spanish Central Business Directory (2021) database. The overall sample design was based on stratified sampling.

We found that hybrid strategy is positively related to firm performance and to process and product innovation. Additionally, in firms implementing hybrid strategies, process innovation fostered firm performance. Finally, adaptive capacity strengthened the relationships of hybrid strategy with process and product innovation. This sheds light on how and when hybrid strategy is most effective in fostering SME performance.

We highlight that SMEs need to establish strategies that use diverse resources and capabilities and not just generate competitive advantage using one strategy (cost leadership or differentiation strategy). This requires an agile and flexible systems and structures.

Our research provides novel results by proposing the adoption of hybrid strategies instead of pure strategies (cost leadership and differentiation strategy) as a way for SMEs to survive during crises. Unlike “stuck in the middle” strategies, our study demonstrates the importance of hybrid strategies in a comprehensive model that links them to innovation and firm performance, with adaptive capacity being a determining factor.