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1 – 10 of 494Ye Bai, Xinlong Li and Hongye Sun
In online purchase for dietary supplements, due to the lack of professional advice from pharmacists, electronic word-of-mouth (eWOM) has become an important source of information…
Abstract
Purpose
In online purchase for dietary supplements, due to the lack of professional advice from pharmacists, electronic word-of-mouth (eWOM) has become an important source of information for consumers to make purchase decisions. How can firms use eWOM resources to increase sales? The purpose of this paper is to provide practical methods for firms by exploring the effects of eWOM on sales and developing a sales prediction model based on eWOM.
Design/methodology/approach
The data came from 120 dietary supplements on Tmall.com. The authors extracted the product sales as dependent variable and 11 eWOM factors as independent variables. The multicollinearity was tested by using variance inflation factor and least absolute shrinkage and selection operator. The multiple linear regression was used to investigate the effects of eWOM on sales. Drawing on white- and black-box approaches, six models were developed. Comparing the root mean square error, the authors selected the optimal one as their target sales prediction model.
Findings
Product ratings, total reviews and favorites are positively and strongly associated with sales. Questions and additional reviews have negative effects on sales. The random forest model has the best prediction performance.
Originality/value
The research focuses on eWOM of dietary supplement. First, the authors show that easily accessible eWOM from online platforms can be used to evaluate effects and predict sales. Second, the authors introduce white- and black-box models through machine learning to assess eWOM. Firms could use the described models to foster their marketing initiatives.
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Svante Andersson, Ulf Aagerup, Lisa Svensson and Sanna Eriksson
This study aims to explore challenges and opportunities in the digitalization of the business-to-business (B2B) customer journey in different buying situations. It also…
Abstract
Purpose
This study aims to explore challenges and opportunities in the digitalization of the business-to-business (B2B) customer journey in different buying situations. It also investigates where in the customer journey digital marketing is most efficient.
Design/methodology/approach
This research adopts a single case study approach to examine a B2B company that implemented digitalization in its customer journey in different buying situations. Data were collected through semistructured interviews, complemented by internal documents and information from the company’s website and social media, to identify reasons for and against the decision to digitalize the B2B customer journey.
Findings
Digitalization can offer firms a cost-effective and value-creating way to interact with customers in a B2B context. The B2B buying situation, however, plays a significant role in decisions on how to implement digitalization. Moreover, in the prepurchase phase, digital marketing is more effective in building awareness; in the purchase phase, personal selling is more effective in addressing customers’ needs.
Research limitations/implications
The use of a single case study cannot produce results directly generalizable to other contexts. However, the findings are applicable to the digitalization of B2B customer journeys in similar industrial contexts.
Practical implications
To successfully implement digitalization in the customer journey, B2B firms should choose digital tools according to different buying situations and phases in the customer journey, segment buyers by their needs rather than individual characteristics and integrate the sales and marketing functions.
Originality/value
This study contradicts prior research that claims that digital marketing can be used in a similar way in both B2B and business-to-consumer contexts. It further shows that the relevant demarcation is not between personal sales and digitalization but between automated digital marketing and individualized personal sales, regardless of medium.
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This paper aims to identify and report the differential effects of activity control and capability control on role stressors, which subsequently affect salespeople’s job…
Abstract
Purpose
This paper aims to identify and report the differential effects of activity control and capability control on role stressors, which subsequently affect salespeople’s job satisfaction and sales performance.
Design/methodology/approach
Drawing on job demands-resources (JD-R) theory, the authors defined active control and customer demandingness as the job demands and capability control as the job resource, and designed their relationship with role stressors, which are indicated as role ambiguity, role conflict and role overload. The authors enrolled a sample of 223 industrial salespeople from pharmaceutical companies. After collecting the data, the authors used structural equation modeling using AMOS to test and estimate causal relationships along with a two-step approach to examine the interaction effect. The authors have also tested the simple slope of two-way interactions. All of the measured variables were identical to those used in previous studies.
Findings
The study findings indicate that behavior-based control can be counterproductive. Reducing activity control can decrease role stress, increase job satisfaction and improve job performance; increasing capability control, however, can reduce role stress and increase job satisfaction and performance. It is also important to acknowledge the external environment of the sales context in which behavior-based control is most effective: whereas high customer demandingness and capability control are related to reduced role stress, high customer demandingness and activity control are related to increased role stress.
Practical implications
Sales managers should recognize that different control management regimes reinforce or mitigate salespeople’s job stressors and outcomes under specific conditions (i.e. work environments marked by higher or lower customer demandingness).
Originality/value
Drawing on JD-R theory, the research shows that a behavior control (i.e. activity control and capability control) has differential, and even opposite, psychological consequences.
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This chapter deals with the principal features of the International Code of Direct Selling 2013 prepared by the International Chamber of Commerce on Marketing and Advertising…
Abstract
This chapter deals with the principal features of the International Code of Direct Selling 2013 prepared by the International Chamber of Commerce on Marketing and Advertising. Having identified the Basic Principles of Direct Selling and the Ideal Conduct towards Consumers, this Code also details the conduct which should be shown towards direct sellers; in addition to their responsibility to and in the event of any breach thereof, the responsibility to be discharged by the direct sellers. That is why this Code of Conduct provides for special training for familiarisation of the important provisions of this Code. This Code intends to achieve a number of objectives, namely (a) the importance of responsibility and good practice in direct selling in any jurisdiction; (b) to respect consumer preferences and privacy and the need for consumer protection – as the days of caveat emptor are over – the onus of consumer protection has been passed on to the sellers of products and services; and (c) direct selling should be done with social and professional responsibilities.
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Sardar Mohammadi, Abed Mahmoudian and Mike Rayner
Although the needs and desires of customers are different, obtaining positive and negative experiences is an inevitable consequence of consuming products and services purchased by…
Abstract
Although the needs and desires of customers are different, obtaining positive and negative experiences is an inevitable consequence of consuming products and services purchased by the consumer. The nature of these experiences is very important for the retail industry and in particular sports stores, as the intangible experience includes the main essence of the products and services provided by businesses; in other words, sports products are mostly experience-oriented and can be classified as an overall experience. Despite the importance of the consumer experience as a dominant and effective paradigm in consumer behaviour, the design of sports customer experience has received less attention from researchers. Therefore, the present study seeks to answer the question of what aspects of creating and developing the customer experience in sports and recreational complexes are. To answer this question, this chapter attempts to identify the areas of creating customer experiences in sports and recreational environments by examining the case of the Enghelab sports and recreational club (in Tehran, Iran) using qualitative research methods and interviewing experts in this field and using the content analysis technique. The findings indicate that cognitive, functional, comprehensive, human, physical, functional, aesthetic, sensory, social, emotional and communal components are the most important components of creating and enhancing customer experience in sports and entertainment complexes.
Therefore, the owners, managers and marketing unit of these collections should invest in the creation and development of these components in the design of their strategic marketing plans in order to provide a memorable experience for the customer during their journey and finally be able to benefit from the subsequent positive consequences such as customer satisfaction, word-of-mouth advertising, loyalty and return intention.
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Nicolas Depetris Chauvin, Antoine Pinède and David Priilaid
This paper aims to examine the convergence and divergence of business and production practices in the global wine industry, particularly focusing on Pinot Noir producers in…
Abstract
Purpose
This paper aims to examine the convergence and divergence of business and production practices in the global wine industry, particularly focusing on Pinot Noir producers in Burgundy, New Zealand and South Africa (SA). This study explores the interplay between firm-specific factors and regional contexts to identify competitive advantage drivers among Pinot Noir producers.
Design/methodology/approach
This research uses a comparative analysis approach, using data from a comprehensive winery level survey. This study applies methodologies akin to value chain analysis to unravel the configuration of productive and technology/knowledge creation activities within wineries across three regions.
Findings
This analysis reveals both convergence and divergence in business and production practices among Pinot Noir producers in Burgundy, New Zealand and South Africa. Although there is a degree of convergence in marketing, distribution and competition strategies, differences exist in production practices and firms’ capabilities. Burgundy emphasizes tradition and terroir expression, contrasting with the modernization and innovation focus observed in New Zealand and South Africa. However, all regions share a commitment to quality as a competitive advantage.
Research limitations/implications
This study acknowledges limitations such as the focus on a specific grape variety and regions, the absence of performance impact analysis and the need for additional variables like environmental, institutional and cultural factors and consumer preferences to provide a comprehensive understanding of industry dynamics.
Practical implications
The insights from this study offer practical implications for winemakers, industry stakeholders and policymakers. Producers can optimize production and marketing strategies based on regional contexts and market segments, whereas stakeholders can identify emerging trends and opportunities in the global wine market. Policymakers can develop targeted policies supporting innovation, sustainability and competitiveness.
Originality/value
This paper provides a unique contribution by conducting a comparative firm-level analysis across distinct wine-producing regions, shedding light on the nuanced interplay of factors shaping competitive advantage among Pinot Noir producers. This study’s comprehensive data set and methodological approach enhance understanding and offer valuable insights for industry stakeholders and policymakers.
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Minhan Wang, Saloomeh Tabari and Wei Chen
Design plays an important role in the hospitality and retail industry. Hotels interior and exterior designs are an important part of hotel operations, and customers are paying…
Abstract
Design plays an important role in the hospitality and retail industry. Hotels interior and exterior designs are an important part of hotel operations, and customers are paying attention to them more than ever. The industry is presenting its brand culture through the modern or unique design of its establishments. This chapter is exploring design and its effects on customer satisfaction and the choice of hotel. The chapter attempts to analyse customer psychology and the impact of external architectural style and internal decoration on customer satisfaction and decision-making, followed by investigating the impact of interior design on guest satisfaction. To achieve this, the chapter aimed to answer the following question: how do external and internal design of the hotel influence customer decision-making?
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Farouq Sammour, Heba Alkailani, Ghaleb J. Sweis, Rateb J. Sweis, Wasan Maaitah and Abdulla Alashkar
Demand forecasts are a key component of planning efforts and are crucial for managing core operations. This study aims to evaluate the use of several machine learning (ML…
Abstract
Purpose
Demand forecasts are a key component of planning efforts and are crucial for managing core operations. This study aims to evaluate the use of several machine learning (ML) algorithms to forecast demand for residential construction in Jordan.
Design/methodology/approach
The identification and selection of variables and ML algorithms that are related to the demand for residential construction are indicated using a literature review. Feature selection was done by using a stepwise backward elimination. The developed algorithm’s accuracy has been demonstrated by comparing the ML predictions with real residual values and compared based on the coefficient of determination.
Findings
Nine economic indicators were selected to develop the demand models. Elastic-Net showed the highest accuracy of (0.838) versus artificial neural networkwith an accuracy of (0.727), followed by Eureqa with an accuracy of (0.715) and the Extra Trees with an accuracy of (0.703). According to the results of the best-performing model forecast, Jordan’s 2023 first-quarter demand for residential construction is anticipated to rise by 11.5% from the same quarter of the year 2022.
Originality/value
The results of this study extend to the existing body of knowledge through the identification of the most influential variables in the Jordanian residential construction industry. In addition, the models developed will enable users in the fields of construction engineering to make reliable demand forecasts while also assisting in effective financial decision-making.
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Ghassem Blue, Masoumeh Chahrdahcheriki, Zabihollah Rezaee and Mohsen Khotanlou
This study aims to present a model for detecting and predicting creative accounting in companies listed on the Tehran Stock Exchange (TSE).
Abstract
Purpose
This study aims to present a model for detecting and predicting creative accounting in companies listed on the Tehran Stock Exchange (TSE).
Design/methodology/approach
The authors conduct this research in three stages. First, the authors review the literature to determine the dimensions, components, indicators and techniques of creative accounting. Second, the authors conduct semi-structured interviews with experts using the fuzzy Delphi technique to obtain screening and reach a consensus. Finally, the authors develop a model to predict creative accounting by classifying the financial statements of the sample companies into two groups based on the use or non-use of creative accounting techniques, measuring the indicators determined in the previous stage, running various machine learning algorithms and choosing the superior algorithm.
Findings
The results indicate the usefulness of accounting information for detecting and predicting creative accounting and the relevance of several financial attributes as important predictors. The results also indicate the superiority of extremely randomized trees over other algorithms in predicting creative accounting and suggest that the primary purpose of creative accounting in Iran is earnings management. Contrary to the political cost hypothesis, large Iranian companies use creative accounting to inflate profits.
Research limitations/implications
The present research also has several limitations that must be considered, and caution must be exercised in interpreting and generalizing the findings as specified in the revised manuscript.
Practical implications
This study’s implications are significant for policymakers, standard-setters and practitioners. By recognizing the detrimental effects of creative accounting on financial transparency within companies, policymakers can address existing gaps in accounting standards to minimize the potential for earnings manipulation. Consequently, strengthening internal and external mechanisms related to a firm’s financial performance becomes achievable. The study provides evidence of the need for audit firms to recognize the importance of creative accounting and consider creative accounting in their audit plans to prevent insufficient or even misleading disclosure by companies that extensively use creative accounting practices in their financial reporting. Moreover, knowledge of creative accounting techniques can help auditors assess audit and detection risks and serve as a valuable guide for reducing audit costs and improving audit quality.
Social implications
Given that creative accounting practices distort the true or real accounting results, curbing creative accounting practices reduces corporate failures and could lead to the reduction of job losses and other social consequences.
Originality/value
This study uses a unique database in Iran to determine a model for predicting creative accounting using a mixed-method methodology, qualitative and quantitative, to identify creative accounting techniques and run various machine learning algorithms.
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