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1 – 10 of 49Jitendra Gaur, Kumkum Bharti and Rahul Bajaj
Allocation of the marketing budget has become increasingly challenging due to the diverse channel exposure to customers. This study aims to enhance global marketing knowledge by…
Abstract
Purpose
Allocation of the marketing budget has become increasingly challenging due to the diverse channel exposure to customers. This study aims to enhance global marketing knowledge by introducing an ensemble attribution model to optimize marketing budget allocation for online marketing channels. As empirical research, this study demonstrates the supremacy of the ensemble model over standalone models.
Design/methodology/approach
The transactional data set for car insurance from an Indian insurance aggregator is used in this empirical study. The data set contains information from more than three million platform visitors. A robust ensemble model is created by combining results from two probabilistic models, namely, the Markov chain model and the Shapley value. These results are compared and validated with heuristic models. Also, the performances of online marketing channels and attribution models are evaluated based on the devices used (i.e. desktop vs mobile).
Findings
Channel importance charts for desktop and mobile devices are analyzed to understand the top contributing online marketing channels. Customer relationship management-emailers and Google cost per click a paid advertising is identified as the top two marketing channels for desktop and mobile channels. The research reveals that ensemble model accuracy is better than the standalone model, that is, the Markov chain model and the Shapley value.
Originality/value
To the best of the authors’ knowledge, the current research is the first of its kind to introduce ensemble modeling for solving attribution problems in online marketing. A comparison with heuristic models using different devices (desktop and mobile) offers insights into the results with heuristic models.
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Carla Ramos, Adriana Bruscato Bortoluzzo and Danny P. Claro
This study aims to capture how the association between a multichannel relational communication strategy (MRCS) and customer performance is contingent upon such customer…
Abstract
Purpose
This study aims to capture how the association between a multichannel relational communication strategy (MRCS) and customer performance is contingent upon such customer performance (low- versus high-performance customers) and to reconcile past contradictory results in this marketing-related topic. To this end, the authors propose and validate the method of quantile regression as an unconventional, yet effective, means to proceed to that reconciliation.
Design/methodology/approach
This study collected data from 4,934 customers of a private pension fund firm and accounted for both firm- and customer-initiated relational communication channels (RCCs) and for customer lifetime value (CLV). This study estimated a generalized linear model and then a quantile regression model was used to account for customer performance heterogeneity.
Findings
This study finds that specific RCCs present different levels of association with performance for low- versus high-performance customers, where outcome customer performance is the dependent variable. For example, the relation between firm-initiated communication (FIC) and performance is stronger for low-CLV customers, whereas the relation between customer-initiated communication (CIC) and performance is increasingly stronger for high-CLV customers but not for low-CLV ones. This study also finds that combining different forms of FIC can result in a negative association with customer performance, especially for low-CLV customers.
Research limitations/implications
The authors tested the conceptual model in one single firm in the specific context of financial services and with cross-sectional data, so there should be caution when extrapolating this study’s findings.
Practical implications
This study offers nuanced and precise managerial insights on recommended resource allocation along with relational communication efforts, showing how managers can benefit from adopting a differentiated-customer performance approach when designing their MRCS.
Originality/value
This study provides an overview of the state of the art of MRCS, proposes a contingency analysis of the relationship between MRCS and performance based on customer performance heterogeneity and suggests the quantile method to perform such analysis and help reconcile past contradictory findings. This study shows how the association between RCCs and CLV varies across the conditional quantiles of the distribution of customer performance. This study also addresses a recent call for a more holistic perspective on the relationships between independent and dependent variables.
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Digitalization and marketing technologies have made it possible to overcome some barriers to pricing – a multidisciplinary field between marketing, finance and IT – and have set…
Abstract
Digitalization and marketing technologies have made it possible to overcome some barriers to pricing – a multidisciplinary field between marketing, finance and IT – and have set the stage for a paradigm shift in the pricing profession. Value creation, the pricing process, and price communication have been transformed by innovative business models and advanced algorithmic and human–machine solutions. This chapter synthesizes the literature to date and provides a comprehensive framework for an all-encompassing 360° pricing approach that broadens the understanding of pricing in the context of digital business across all steps of the price management process. Starting from product attributes and motivational beliefs in consumers' value assessment and adoption of (technological or digital) products or services, new business models and pricing models emerge in the digital economy, human–machine solutions for price implementation and repricing are increasingly applied, and price search and communication take place through a variety of digital communication channels. Each stage of this framework discusses concrete examples, highlighting the freemium strategy, the subscription model, price tracking and repricing tools, and digital price information channels such as e-commerce, marketplace, or price comparison platforms. The implications for price management in a digital, technology-driven landscape are discussed from the executive level to the analyst level.
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Aastha Kathuria and Apurva Bakshi
Online impulsive purchasing is growing exponentially, and website-related factors play a substantial role in this phenomenon. This study provides a comprehensive and integrative…
Abstract
Purpose
Online impulsive purchasing is growing exponentially, and website-related factors play a substantial role in this phenomenon. This study provides a comprehensive and integrative framework encompassing a variety of website-related factors influencing impulsive purchase behaviour.
Design/methodology/approach
The study is a systematic literature review, which includes literature search from two prominent databases. This article consolidates the results of 60 relevant research papers, and thematic analysis is performed on various website-related aspects classified into five research topics.
Findings
The different website qualities have been classified into broad themes and their role in online impulse buying has been explored. The antecedents, moderators, mediators, and outcomes are portrayed in an integrated research framework. Possible research gaps have been identified, and a future research agenda has been proposed, representing potential research areas.
Research limitations/implications
As we have included only studies published in the English language, this review may be limited by language bias. Relevant research published in other languages might have been excluded.
Practical implications
This literature review may provide management insights to marketers and practitioners managing online retail websites. To sustain an online business in the long term, it is critical for online retailers to have a thorough understanding of all conceivable website stimuli and develop them in a way that compels consumers to make impulsive purchases.
Originality/value
This study represents an original contribution to the realm of systematic literature reviews. To the best of our knowledge, this is the first SLR that elaborately delineates the influence of website-related factors on online impulse buying behaviour.
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Bin Liu, Jing Sun and Zongsheng Huang
We investigate the extended service strategy choices of competing manufacturers and examine their impact on the retail platform.
Abstract
Purpose
We investigate the extended service strategy choices of competing manufacturers and examine their impact on the retail platform.
Design/methodology/approach
We construct a supply chain model with a retail platform as the leader and manufacturers as the followers. Manufacturers face differential consumer preferences on the same agency retail platform, and they can sell a bundled extended service product and sell a separate product without any extended service.
Findings
The sale of extended warranty services on the retail platform leads to lower pricing of the manufacturers' products and changes in the product market structure in response to differences in consumer preferences. The retailing platform tends to provide an extended warranty conditionally. The sale of extended warranty services on a retail platform would be detrimental to the interests of the manufacturer who sells products with extended warranty services and in favor of the manufacturer who sells products without them.
Originality/value
The equilibrium results of the retail platform’s non-sales and sales of extended warranty services for the no-extended warranty product under the same commission rate and differential commission rate models are discussed, and the product structure of the market is investigated, respectively.
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Paulo Botelho Pires and José Duarte Santos
Buying online has become a widespread and common activity for consumers, and, for many organizations, e-commerce has become a very profitable alternative to sell their products…
Abstract
Buying online has become a widespread and common activity for consumers, and, for many organizations, e-commerce has become a very profitable alternative to sell their products and services, also allowing them to leverage their strategy in new geographical markets immediately. Although the literature on the subject is comprehensive, there is a gap in identifying the holistic constructs that are the determinants of consumers' choice of an online store. This research resorts to an exploratory study, based on a nonsystematic literature review, seeking to identify these constructs. The results obtained allowed us to identify the following constructs: consumer behavior, customer experience, web content, catalog, terms and conditions, customer support, perceived value, trust, security and privacy, satisfaction, and loyalty. Customer experience, satisfaction, and loyalty constructs stand out from a strategic perspective.
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Paula Rodríguez-Torrico, Rebeca San José Cabezudo and Sonia San-Martín
In the channel-mix era, the customer journey involves combining channels during all the stages of the decision-making process, such that creating and maintaining relationships…
Abstract
Purpose
In the channel-mix era, the customer journey involves combining channels during all the stages of the decision-making process, such that creating and maintaining relationships with consumers poses a challenge to retailers. This work aims to explore what role brands play in this issue by analyzing what impact the perceived benefits of brand channel-mix have on consumer self–brand connection (SBC) and what their effect is in enduring consumer–brand relationships (i.e. future channel-mix use and word of mouth [WOM]). This paper also explores the moderating role of product involvement in these relations.
Design/methodology/approach
The authors carried out a personal questionnaire with a sample of 288 consumers who were recruited after leaving one of the stores of a clothing brand that is a successful example of distribution channel management.
Findings
Insofar as consumers perceive channel-mix benefits, SBC will be higher and (or as a result) their future intentions with the brand will be more intense. In addition, the results show that product involvement moderates the relationship between SBC and channel-mix use intention and WOM.
Originality/value
This work contributes to channel-mix, relationship marketing, brand and product involvement literature by analyzing how customers may be retained in the channel-mix era through brand management and by considering product category involvement. This study merges brand and product variables to explore their impact on relationship marketing within channel-mix behaviors.
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Lucimara Gomes, Serje Schmidt and Luciene Eberle
In banking services, how customers interact with their bank – whether it’s through the physical branch or online – plays a significant role in how they feel about the experience…
Abstract
Purpose
In banking services, how customers interact with their bank – whether it’s through the physical branch or online – plays a significant role in how they feel about the experience. It’s not just about performing the service; it’s also about building trust, keeping them committed and getting them engaged so that a long-lasting relationship is developed. While there’s abundant research about trust and commitment in banking, not many studies have looked at how customers see both the online and offline sides of banking, especially in credit unions. Credit unions emphasize proximity with members, so it’s important to understand how these different ways of interacting affect how much people trust the credit union and stay committed to it and how engaged they feel as members. This study aims to explore this issue.
Design/methodology/approach
A quantitative survey was conducted using partial least squares structural equation modeling (PLS-SEM). The survey was answered by 195 members of one of the most traditional credit unions in Brazil.
Findings
The results suggest that both face-to-face and digital channels’ dimensions impact trust, which in turn influences commitment. Engagement is influenced by both trust and commitment, providing inputs to the value co-creation process.
Originality/value
The research presents relevant contributions to academia by deepening the understanding of the role of different service channels in value co-creation and customer engagement. It also offers significant contributions to the cooperative, which can improve the member experience in interaction channels to consequently develop lasting relationships and stimulate the engagement of its members.
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Nguyen M Trang, Brad McKenna, Wenjie Cai and Alastair Maclean Morrison
This research aims to explore generation (Gen) Z's personal branding on social media when job seeking.
Abstract
Purpose
This research aims to explore generation (Gen) Z's personal branding on social media when job seeking.
Design/methodology/approach
Gen Z students, in their final year of university, were interviewed about personal branding, as well as recruiters and career advisors to gain insights into the recruitment process and expectations of online personal brands. Before interviewing, Gen Z students' LinkedIn profiles were examined, and then fed into the interview process.
Findings
Using impression management theory, the findings show that Gen Z perceive online personal brands as a crucial tool to gain more advantage in job markets. A gap was found between desired and perceived selves in Gen Z's online personal brands. Strategies such as effective self-reflection, authentic communication, self-promotion processes, awareness of risks and constantly controlling digital footprints were suggested to build stronger and more coherent personal brands. Gen Z are in favour of a more dynamic, interactive, work-in-process of authentic personal brands.
Originality/value
This research demonstrates the importance of authentically building online personal branding strategies and tactics to bridge the divide between Gen Z's desired and perceived images in personal branding on social media when job seeking.
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This study examines how chatbots could improve the client experience in the banking sector. Due to their quick and effective customer service, chatbots are becoming more and more…
Abstract
This study examines how chatbots could improve the client experience in the banking sector. Due to their quick and effective customer service, chatbots are becoming more and more popular, but it is still unknown whether they can improve the customer experience. In order to gather data from a simple random sample of Palestinian banking clients in the Gaza Strip, a survey was conducted utilizing the explanatory technique. To test hypotheses, data collected from 337 individuals was evaluated using simple regression analysis. According to the results, chatbots may enhance the customer experience by offering 24/7 availability, prompt support, and customized replies. However, issues with data privacy, lack of human interaction, and chatbot accuracy were also noted. The study comes to the conclusion that chatbots may be an effective tool for increasing customer experience in the banking sector, but their design, deployment, and interaction with current customer service channels must be carefully considered. This study significantly adds to the body of knowledge on chatbots and their potential influence on customer experience. The study offers useful insights into the particular difficulties and potential of employing chatbots in a highly regulated and customer-focused industry by concentrating exclusively on the banking sector. The results show that chatbot implementation in banking needs to be approached thoughtfully and strategically to maximize their potential for improving customer experience while limiting any possible downsides.
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