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The market is a complex organism that has rich implications and essential stipulations. From the property right perspective, the market is a series of property rights…
The market is a complex organism that has rich implications and essential stipulations. From the property right perspective, the market is a series of property rights, rules, and system arrangements (an aggregation of rights), which are constructed, owned, operated, and managed by the state and from which the government can benefit. The market property right is owned by the government (state). The costs of market property right include tangible (explicit) cost, system cost, human cost, and other cost components. The study on the cost components of market property right is conducive to establishing the principle of matching investment with ownership, matching investment with income, and integrating (unifying) cost with efficiency.
Strategy Question: How do I better understand the make-up of my overall market?Summary: Assuming that the market has been properly sized, it is important to also spend…
Strategy Question: How do I better understand the make-up of my overall market?
Summary: Assuming that the market has been properly sized, it is important to also spend similar effort to define segments and size these appropriately. This tool basically mirrors the approach of the Bottom-up Market Sizing Tool. At this stage, emphasis turns to breaking the overall market into actionable segments. Two to three iterations again are common to improve accuracy. The tool output casts the segments as a rectangular graphic, made up of one column for each segment. Segment width is representative of its size relative to the other segments. The width of all segment columns, added together, ties back and equals the overall size of the markets. The result provides guidelines for determining strategic market segments and niches, and how to best position the firm within those segments.
It is observed that many destinations are implementing sport tourism offerings to enhance their ability to attract visitors through satisfying their desires of new…
It is observed that many destinations are implementing sport tourism offerings to enhance their ability to attract visitors through satisfying their desires of new experiences. This has led to a highly competitive sport tourism market and as a result destinations engage in various marketing techniques and promotional tools to gain an advantage. For that reason this research was undertaken to acquire a greater understanding of the importance of promotional tools to successfully and efficiently market sport tourism experiences.
The construct of this study comprises of two stages. The aim of the first stage is to evaluate the specific tools used to promote sport tourism and sport tourism experiences in Barbados by examining the responses of various sporting and tourism bodies. The second stage of this research was conducted to present and analyze how marketing/promotional tools could contribute to better market sport tourism experiences.
The research found that many of the promotional tools implemented in Barbados during their marketing process correspond with those used internationally. However, problems of poor and insufficient sporting facilities as well as little collaboration between tourism and sporting entities, hamper the success of Barbados as a sport tourism destination. This further minimized Barbados’ ability to market favorable tourism experiences. This therefore shows that while promotional tools are essential in attracting tourists, other elements must also be taken into consideration to ensure sport tourists have positive experiences which would lead to a successful sport tourism destination.
Few studies in this area have been undertaken in the Caribbean. This study attempts to fill this gap by examining the implementation of sport tourism offerings to attract visitors to Barbados.
This article argues that the economic, political, and cultural spheres of society are not separate but rather mutually embedded in one another. The market is not just an…
This article argues that the economic, political, and cultural spheres of society are not separate but rather mutually embedded in one another. The market is not just an economic phenomenon, but a political and cultural one as well. Markets, in this reframing, include not just the convenient fiction of atomized buyers and sellers but trade and professional associations and a field of public actors including assorted regulators and courts. It is the interaction of these parties that creates a market culture. These cultures exhibit contradictory tendencies that are generated by exchange relations and resolved by power dynamics. The contradictory tendencies reflect the tension between accumulative and regulative norms in market cultures. These include opportunism versus restraint, innovation versus standard practice, and growth versus stability. The resolution of the cultural contradictions of markets is not a natural tendency toward equilibrium, but rather an ideal of public policy to be attained by countervailing power in effective legal and regulatory institutions.
The purpose of this final chapter is to draw together the conclusions and insights presented in each of the chapters throughout the book, to summarize and categorize…
The purpose of this final chapter is to draw together the conclusions and insights presented in each of the chapters throughout the book, to summarize and categorize concisely the findings, and to offer views about the next steps in the field of education marketing. The chapter is presented under key headings which emerge from the edited book chapters: market-led leadership, building relationships, and relationship marketing. The final section discusses a way forward for education marketing research and practice.
The chapter seeks to draw together and make sense of the insights from all the chapters under key headings to provide the reader of the volume with some key ideas to take forward for practice and research in the field.
In this chapter, we connect our focus — the organizing of marketing — to one of the strongest drivers for its change — digitalization — and draw attention to various “dual…
In this chapter, we connect our focus — the organizing of marketing — to one of the strongest drivers for its change — digitalization — and draw attention to various “dual forces” that affect marketing as a consequence. These dual forces are associated with the concept of ambidexterity. Given that companies today are affected by digitalization, both internally in their organizations and in their external business relations, and that they need to act as ambidextrous organizations handling both old (“analog”) and new (“digital”) situations, how does this affect marketing, in general, and the organizing of marketing, in particular?
The chapter will be founded on the assumptions that digitalization is a central driver of change in business and society today, and this digitalization requires organizations to explore new opportunities while still operating with mature technologies in mature markets. Marketing most often has a central role in this situation of digitalization. The connection between digitalization processes, ambidextrous organizations, and the processes of organizing marketing is the focus of this chapter.
The subject is wide, and the aim of the chapter is to generate ideas on some potential consequences for marketing management and organization. The chapter ends with a set of propositions serving as starting points for further studies of the links between digitalization, marketing management and organization, as well as the forces resulting from digitalization.
Regardless of its relevance for economic development, the influence of strategic orientation by innovation orientation, and strategic marketing by marketing capability on…
Regardless of its relevance for economic development, the influence of strategic orientation by innovation orientation, and strategic marketing by marketing capability on firm performance, this interesting study focused on firms with strategic industries (defense and security) in Indonesia. It approached the gap in three ways. Initially, the examination was conducted on the role of innovation orientation, marketing capability, the interaction of innovation orientation and marketing capability on firm performance. The next step was considering the contribution of state-owned enterprise (SOE) and non-SOE. Finally, this relationship was studied in strategic industries of firms in Indonesia. The firm performance in this study, which we chose, was operational performance. The proposed conceptual model would be tested by distributing questionnaires to 41 firms in Indonesia. This study gave insight into the matters, which should be the companies’ focus, to improve their operations’ performance. By using PLS-based structural equation modeling (SEM) analysis, the results of the relationship between innovation orientation, marketing capability, and the interaction between innovation orientation and marketing capability on operational performance were identified. The findings could be clarified via the variations in the characteristics of enterprises (SOE and non-SOE). Moreover, there were clear variations in the findings, which were recognized among the firms’ relatively different characteristics. The main finding was a challenge to generalize the relationship from strategic orientation and strategic marketing to performance. The results of firm characteristics also had considerable managerial relevance. The authors recommend strategic industries (defense and security) in Indonesia in achieving operational performance excellence. Management’s importance is paying attention to the relationship between innovation orientation, marketing capability, and dynamic capability in running a company organization.
The policy of strategic diagnostics in the modern economy of Russia's regions is built in a contradiction. The expected growth of the share of material production in GRP…
The policy of strategic diagnostics in the modern economy of Russia's regions is built in a contradiction. The expected growth of the share of material production in GRP was not confirmed. Analysis of economic indicators allows stating the expected tendency in dynamics of development of tertiary spheres. A dominating element of structural changes of economy is consumer market.
Several methodological approaches to defining the category “consumer market” are distinguished: marketing, institutional, reproduction, and economic.
For formation of methodological foundations of evaluation of consumer market, several methodologies are systematized. A methodology including two stages of evaluation of development of consumer market is offered: diagnostics (first stage) and forecasting (second stage) of the region's consumer market.
According to evaluations obtained by the authors, a strategic factor of structural changes in Russia's economy is regions' consumer market. Its well-balanced development ensures acceleration of progressive structural changes in economy. A dominating factor in the structure of consumer market is trading sphere, and a tool of structural changes is trading the goods of local and domestic manufacturers.
Perhaps the most significant development in the global business arena in the post-war period has been the emergence of the Asia-Pacific rim countries as a significant…
Perhaps the most significant development in the global business arena in the post-war period has been the emergence of the Asia-Pacific rim countries as a significant economic force.
How do you sell a Norwegian invention, Cheese in a Tube, to a world used to cheese coming as a block or in slices? This is something Kavli has succeeded in doing despite…
How do you sell a Norwegian invention, Cheese in a Tube, to a world used to cheese coming as a block or in slices? This is something Kavli has succeeded in doing despite established cultural norms for cheese and related food products. Adapting to new cultural environments requires a reexamination of the market mix and positioning of the product, especially when the product has a strong home country cultural specificity. More distant markets have different preferences and environments and may require some degree of adaptation of the firm's marketing mix. The capacity of the firm to adapt to these differences and to respond to this challenge can make the difference for the future survival and long-term success of the firm.