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Article
Publication date: 17 July 2023

Rahmi Baki

The aim of the proposed classification approach of potential market alternatives (CAPMA) is to provide exporting countries with a framework for identifying potential market…

Abstract

Purpose

The aim of the proposed classification approach of potential market alternatives (CAPMA) is to provide exporting countries with a framework for identifying potential market opportunities for their products or services.

Design/methodology/approach

In today's global market conditions, with competition increasing daily, companies, businesses and states must seek new markets at the national and international level. Target market selection is a strategic process that directly affects the success of an organization and can lead to important results in the short and long term. The process requires systematic research and digitization of data to analyse target markets.

Findings

The study tested the proposed approach by analysing Turkey's potential markets for hazelnut exports and identifying new target markets. A significant part of Turkey's hazelnut exporting is confined to the European geography of Turkey, the leading country in hazelnut production and export. Twenty potential markets were evaluated on the basis of 11 criteria, and feasible alternatives were categorized into four classes. The study revealed that the USA, India, the United Kingdom and Japan were in the category of markets with the greatest potential for increasing exports (Dimension 1).

Originality/value

This study has developed a novel approach that allows the comparison of the current market situation with potential market outcomes and creates an accurate classification of target markets.

Article
Publication date: 20 February 2024

Abhay M. Vyas and Gyaneshwar Singh Kushwaha

This study explores consumers' perceptions of purchasing fast food items through online platforms. The central idea of this research is to practically assess the various elements…

Abstract

Purpose

This study explores consumers' perceptions of purchasing fast food items through online platforms. The central idea of this research is to practically assess the various elements impacting the consumers’ perceptions of online purchasing of fast food items and find out the factors with high importance and performance value.

Design/methodology/approach

A quantitative research approach was used to collect data from 402 participants in the form of a pen-and-paper-based method using a 5-point Likert scale. The collected data were analyzed using structural equation modeling (SEM) and importance-performance analysis. Theory of planned behavior and technology acceptance model form the basis for this research.

Findings

The findings indicate that constructs such as convenience, perceived quality and perceived healthiness positively influence consumers' perceptions of online purchasing of fast food items. On the other hand, competitive prices, discounts and promotions (CPDP) and online shopping experience have no significant impact on perceived value for money.

Research limitations/implications

A constraint of this study is that it was done in a particular geographical location, which restricts the generalizations of the findings. The study only examined consumers' perceptions of online fast food purchasing, and future research could explore consumers' actual behaviors toward personalized fast food recommendations by online sellers.

Originality/value

The research supports and extends the existing literature by comprehensively understanding consumers' perceptions of purchasing fast food online. These findings can help online fast food sellers improve their services and develop targeted marketing strategies.

Details

British Food Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0007-070X

Keywords

Article
Publication date: 26 September 2023

Jian-Ren Hou, Yen-Hsi Li and Sarawut Kankham

As an alternative to hiring financial specialists or investment consultants, robo-advisors offer financially automated investment services. This study aims to investigate how…

216

Abstract

Purpose

As an alternative to hiring financial specialists or investment consultants, robo-advisors offer financially automated investment services. This study aims to investigate how robo-advisors' service attributes, risk attitude and financial self-efficacy influence customers' choice preferences of adopting robo-advisors.

Design/methodology/approach

Two hundred fifty-one online surveys were used to collect data, and choice-based conjoint analysis was conducted.

Findings

Results show that increasing annual fees negatively impact customers' choice preferences. Promotion, general investment education and additional human assistance have a positive impact. Furthermore, risk-seeking and risk-averse customers require more human assistance than risk-neutral customer and customers with high levels of financial self-efficacy prefer more general investment education and additional human assistance than those with lower levels. In addition, customers in the older age group prefer promotion, general investment education and additional human assistance, while wealthy customers prefer lower annual fees, higher general investment education and more additional human assistance compared to middle-class and low-income groups.

Originality/value

This study contributes to robo-advisor providers to provide appropriate service attributes for each customer group.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

Keywords

Case study
Publication date: 12 December 2023

Ratna Achuta Paluri and Girish Ranjan Mishra

This case study will allow students to critically analyse and develop entry strategies into untapped foreign markets. The case study was designed to introduce students to…

Abstract

Learning outcomes

This case study will allow students to critically analyse and develop entry strategies into untapped foreign markets. The case study was designed to introduce students to identifying and analysing information related to target markets for expansions in international business.

The main objectives of this case are to evaluate and make the “Go Global” decision for the company; to take a position on entry timing for a company for entering an overseas market; to select a country for entry based on cultural, administrative, geographic and economic analysis and other relevant factors; and to evaluate a firm’s readiness for exports.

Case overview/synopsis

This case study on Satya Pharmaceuticals presents a typical dilemma faced by small and medium enterprises (SMEs) in emerging markets such as India while exploring the untapped overseas markets to expand their business. Satya Pharmaceuticals produced over-the-counter Ayurvedic medicines. With the onset of the COVID-19 pandemic, the consumer preference for Ayurvedic products had increased globally. Home country governments’ emphasis on exports and conducive consumer preferences created an opportune time for such SMEs to explore uncharted markets with a propensity for herbal medicines. Amidst strict regulations regarding safety, efficacy, labelling and packaging norms, along with a subjective understanding of the consumers’ sentiments regarding alternate medicines, SMEs had to select their target market carefully for their products to be successful overseas. This case study presents the basic information that entrepreneurs needed to explore the foreign markets. It revolved around checking firms’ preparedness to explore foreign markets, identifying target markets, timing the entry and entering those markets.

Complexity academic level

This case is appropriate for graduate-level courses in management that offer subjects such as international business.

Supplementary material

Teaching notes are available for educators only.

Subject code

CSS 5: International business.

Article
Publication date: 20 December 2022

Hyo Eun Cho, Jong-Ho Lee and Insik Jeong

The purpose of this study is to investigate an understudied topic—new product strategy in international markets. Specifically, this study aims to address the crucial role played…

Abstract

Purpose

The purpose of this study is to investigate an understudied topic—new product strategy in international markets. Specifically, this study aims to address the crucial role played by organizational characteristics and market characteristics in determining a firm's decision of adopting either a waterfall or a sprinkler product strategy for international markets.

Design/methodology/approach

The empirical analysis was conducted using survey data collected from a sample of 171 Korean small and medium enterprises (SMEs). This study uses logistic regression analysis to test the relationships among organizational characteristics, market characteristics and a firm's international product strategy.

Findings

The empirical results suggest that firm characteristics, such as higher degree of internationalization, lead the firms to choose the sprinkler strategy. Moreover, this research finds that a firm's choice between the waterfall and the sprinkler strategy varies depending on market characteristics such as competitive intensity and market turbulence. The findings indicate that the sprinkler strategy is more optimal for use when firms operate under a high level of competitive intensity, whereas a waterfall strategy is more suitable for firms that encounter a high level of market turbulence in targeted foreign markets.

Originality/value

This research contributes to the international marketing literature by exploring the impact of organizational characteristics and market characteristics on a firm's new product strategy in international markets.

Details

International Marketing Review, vol. 40 no. 2
Type: Research Article
ISSN: 0265-1335

Keywords

Article
Publication date: 31 August 2023

Jonggeun Lee and Amrut Sadachar

The purpose of this study was to propose and examine a conceptual model delineating how two different types of appearance-related self-discrepancies (i.e. the ideal appearance…

Abstract

Purpose

The purpose of this study was to propose and examine a conceptual model delineating how two different types of appearance-related self-discrepancies (i.e. the ideal appearance self-discrepancy vs. the ought appearance self-discrepancy) influence retail therapy shopping behavior through motivational route (i.e. approach motivation vs. avoidance motivation).

Design/methodology/approach

This study utilized the online survey for data collection. Using a national sample of 532 US consumers who had retail therapy shopping experience, the conceptual model was tested through various statistical techniques, including confirmatory factor analysis, exploratory factor analysis and structural equation modeling.

Findings

Results revealed that the ought appearance self-discrepancy positively influenced retail therapy shopping behavior through avoidance motivation and emotion-focused coping strategy, whereas the ideal appearance self-discrepancy did not influence retail therapy shopping behavior. The results also suggested that the effect of two different types of appearance-related self-discrepancies on motivations in retail therapy shopping context varied depending on the gender (i.e. male vs. female).

Originality/value

Results suggest implications regarding potential target market strategies to retailers and provide a better understanding of retail therapy shoppers' characteristics and psychological mechanisms for consumer researchers.

Details

Journal of Fashion Marketing and Management: An International Journal, vol. 28 no. 2
Type: Research Article
ISSN: 1361-2026

Keywords

Article
Publication date: 9 October 2023

Anil Bilgihan and Peter Ricci

This paper aims to explore the impact of emerging technologies, such as virtual reality, voice search, artificial intelligence, robotics and the Metaverse on hotel sales…

Abstract

Purpose

This paper aims to explore the impact of emerging technologies, such as virtual reality, voice search, artificial intelligence, robotics and the Metaverse on hotel sales, marketing and revenue optimization.

Design/methodology/approach

This paper uses a combination of articles published in Journal of Hospitality and Tourism Technology and industry case studies to examine the integration of innovative technologies in hotel sales, marketing and revenue optimization strategies, plus the role of fundamental practices in ensuring long-term success.

Findings

The analysis demonstrates that innovative technologies can significantly enhance customer engagement, streamline booking processes and unlock new revenue streams. However, this paper also highlights the importance of fundamental marketing practices, such as user-friendly websites, fast and reliable/mobile-friendly websites, search engine optimization, social media engagement, content marketing and data-driven revenue management, in maintaining a hotel’s competitive advantage in the dynamic world of hospitality.

Practical implications

The findings suggest that hoteliers need to strike a balance between embracing emerging technologies and maintaining traditional marketing fundamentals to remain competitive and drive revenue growth. This integrated approach ensures long-term success in the ever-evolving hospitality landscape.

Originality/value

This paper bridges the gap between academia and industry practitioners by providing practical insights and implications that can be applied directly to hotels’ marketing and operational practices. The paper highlights the importance of balancing innovation with fundamental marketing strategies, emphasizing the need for an integrated approach to ensure long-term success in the ever-evolving world of hotel sales, marketing and revenue optimization – as well as those same tools in a plethora of hospitality and tourism venues working alongside the accommodations sector.

研究目的

探讨新兴技术(如虚拟现实、语音搜索、人工智能、机器人技术和元宇宙)对酒店销售、营销和收入优化的影响。

研究方法

本文结合发表在《酒店旅游科技杂志》(JHTT)的文章和行业案例, 研究了创新技术在酒店销售、营销和收入优化策略中的整合, 以及基础实践在确保长期成功方面的作用。

研究发现

分析表明, 创新技术可以显著增强客户参与度, 简化预订流程, 并开拓新的收入来源。此外, 文章强调了基本营销实践, 如用户友好的网站、快速可靠/移动友好的网站、搜索引擎优化、社交媒体参与、内容营销和数据驱动的收入管理, 在保证酒店在充满变化的行业竞争中维持优势的重要性。

实际应用

研究结果表明, 酒店经营者需要在使用新兴技术和保持传统营销基本原则之间取得平衡, 以保持竞争力并推动收入增长。这种综合方法确保在不断发展的酒店销售、营销和收入优化领域取得长期成功。

研究创新

本文通过提供可直接应用于酒店营销和运营实践的实际见解和影响, 弥合了学术界与行业从业者之间的鸿沟。文章强调了创新与基本营销策略的平衡的重要性, 强调了综合方法的必要性, 以确保在不断发展的酒店销售、营销和收入优化领域取得长期成功, 以及这些工具在众多酒店和旅游场所与住宿部门一起工作的多样性领域中的应用。

Article
Publication date: 16 October 2023

Ekrem Yilmaz

The purpose of this paper is to examine the applicability of Preference Similarity Theory (PST) and Protection Motivation Theory (PMT) in identifying the target audience and…

Abstract

Purpose

The purpose of this paper is to examine the applicability of Preference Similarity Theory (PST) and Protection Motivation Theory (PMT) in identifying the target audience and developing effective marketing strategies, particularly in non-Muslim countries, to increase the market growth and reach of sukuk to broader investor groups and provide recommendations for such strategies.

Design/methodology/approach

After separately examining the effects of PST and PMT on marketing sukuk, recommendations are presented from a shared perspective of these two theories.

Findings

The findings of this study suggest that understanding the values, beliefs and perceptions of potential investors is crucial for effectively marketing sukuk investments, especially in non-Muslim countries. The PST and PMT provide useful frameworks for tailoring sukuk offerings and communicating effectively about the risks and benefits of sukuk investments to attract investors who identify with the values and beliefs embodied in sukuk.

Originality/value

To the best of the author's knowledge, this is the first paper to examine the marketing of sukuk in non-Muslim countries. This study is also the first paper to discuss sukuk in the context of PST and PMT. In addition, this study is expected to guide banks in the marketing of sukuk.

Details

Journal of Islamic Accounting and Business Research, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1759-0817

Keywords

Article
Publication date: 31 May 2022

Jianfang Qi, Yue Li, Haibin Jin, Jianying Feng and Weisong Mu

The purpose of this study is to propose a new consumer value segmentation method for low-dimensional dense market datasets to quickly detect and cluster the most profitable…

Abstract

Purpose

The purpose of this study is to propose a new consumer value segmentation method for low-dimensional dense market datasets to quickly detect and cluster the most profitable customers for the enterprises.

Design/methodology/approach

In this study, the comprehensive segmentation bases (CSB) with richer meanings were obtained by introducing the weighted recency-frequency-monetary (RFM) model into the common segmentation bases (SB). Further, a new market segmentation method, the CSB-MBK algorithm was proposed by integrating the CSB model and the mini-batch k-means (MBK) clustering algorithm.

Findings

The results show that our proposed CSB model can reflect consumers' contributions to a market, as well as improve the clustering performance. Moreover, the proposed CSB-MBK algorithm is demonstrably superior to the SB-MBK, CSB-KMA and CSB-Chameleon algorithms with respect to the Silhouette Coefficient (SC), the Calinski-Harabasz (CH) Index , the average running time and superior to the SB-MBK, RFM-MBK and WRFM-MBK algorithms in terms of the inter-market value and characteristic differentiation.

Practical implications

This paper provides a tool for decision-makers and marketers to segment a market quickly, which can help them grasp consumers' activity, loyalty, purchasing power and other characteristics in a target market timely and achieve the precision marketing.

Originality/value

This study is the first to introduce the CSB-MBK algorithm for identifying valuable customers through the comprehensive consideration of the clustering quality, consumer value and segmentation speed. Moreover, the CSB-MBK algorithm can be considered for applications in other markets.

Details

Kybernetes, vol. 52 no. 10
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 1 July 2022

Ann Højbjerg Clarke and Per Vagn Freytag

Successful segmentation and implementation are crucial for firms. This paper aims to focus on what areas small- and medium-sized enterprises (SMEs) consider when implementing new…

Abstract

Purpose

Successful segmentation and implementation are crucial for firms. This paper aims to focus on what areas small- and medium-sized enterprises (SMEs) consider when implementing new target segments in the organization. If firms do not understand the potential complexity and plan for implementation, they risk overlooking important areas that cause organizational resistance and failure in the market.

Design/methodology/approach

This paper builds on a literature study and five SME case studies based on 44 interviews and 10 intervention workshops.

Findings

The authors identify key areas of change that SMEs consider when planning to implement segments in the organization, including marketing strategy and plans, organizational aspects and implementation processes. Organization changes and sales plays are key considerations among SME managers. The authors further identify four categories characterized by different degrees of marketing and organizational changes that SMEs face when implementing new target segments, reflecting SMEs former choices.

Research limitations/implications

This research is based on interviews and workshops that bring managers into a situation where they can evaluate needed changes to implement segments. The managers can express the complexity and the effect of the implementation.

Practical implications

This paper presents considerations and insights derived from SMEs and discusses how firms can be better equipped to implement new segments.

Originality/value

This paper offers new insights and directions for segmentation literature, focusing on implementation and proposing how to advance the segmentation literature.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 4
Type: Research Article
ISSN: 0885-8624

Keywords

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