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This paper aims to expand foreign investors' understanding of potential return enhancement and risk diversification advantages offered by equity market of Pakistan through comparing its performance to performances in other markets and investigating what matters for investing in Pakistan's market.

Comparative analysis of Pakistan Stock Exchange is performed using data for 22 developed and 22 emerging markets over the period 1993–2019. Cross-sectional analysis is performed using data for 130 non-financial firms from Pakistan and Carhart (1997) and Fama and French (2015) models are applied. The role of liquidity with five-factor model is analyzed using turnover rate and Amihud (2002) illiquidity cost as liquidity measures.

Pakistan's equity offers substantial diversification benefits if added to developed market portfolios. However, observed large returns come together with inverted premia for most traditional factors indicating that investors may want to invest preferably in big stocks with low book-to-market and momentum. Finally, global investors can invest in high yielding stocks with low liquidity risk owing to positive connection between liquidity and returns.

This study will provide investment model for foreign investors to enhance their portfolio returns. Policy makers in Pakistan must identify regulatory steps to facilitate foreign investments.

To the best of the authors' knowledge, this is the first study which identifies efficiency gains offered by Pakistan's equity for global investors.

The United Nations (UN) 17 Sustainable Development Goals (SDG) places partnerships as a vital mechanism, which strengthens the implementation of change strategies. The SDG targets are ambitious; acknowledging the interconnected multifaceted issues that are currently facing society. Similarly, social marketing thought is transitioning to embrace systemic change strategies, realising no one organisation can have an impact on the emerging grand challenges. Partnerships are the 5th P in the social marketing mix, however, partnerships is also a nebulous term which has been criticised for lacking theoretical development. This study aims to answer the call from both the UN and social marketing community for further research to guide the development and implementation of impactful transformative partnerships.

A robust mixed method approach to develop and test a social marketing partnership model is presented. Trust and relationship commitment are at the forefront of successful partnership exchanges. Morgan and Hunt’s (1994) trust and relationship commitment model is extended into the social marketing domain.

The findings validate Hasting’s (2003) call for social marketers to listen to their commercial marketing counterparts, positioning trust and commitment as essential to change strategies. As the degree of complexities in the multifaceted world continues to accelerate, partnerships for change (UN SDG #17) will pay off, driving more effective and smarter collaborations amongst a diverse range of stakeholders at different levels in different networks. Partnerships will elevate social marketing to deliver systemic transformation for complex problems with far reaching collective and sustainable consequences.

With trust/mistrust critical to successful exchanges and exchange central to social marketing, quantitative measurement of the antecedents to and outcomes of partnerships can inform the evaluation, impact and management of social marketing interventions.

Three contributions are made, which support the selection, implementation and evaluation of social marketing partnerships. Key social marketing partnership characteristics are operationalised supporting the partnership selection process. Measurement scales are developed to assist in evaluating partnership relationships over time. The model is empirically tested to investigate the relationships between key mediating variables of social marketing partnerships.

This paper presents a validated 5th P Partnership model for social marketers, accelerating social marketing’s capacities to deliver systemic transformation for complex problems with far reaching collective and sustainable consequences and UN SDG #17.

Framed by nostalgia marketing, this research draws upon lessons from ParticipACTION, a Canadian non-profit health promotion organization, to examine one of their most well-known campaigns, Body Break with ParticipACTION, in order to assess the potential role for nostalgia-based marketing campaigns in sport participation across generational cohorts.

Exploratory sequential mixed methods involving two studies were completed on behalf of ParticipACTION, with the authors developing the research instruments and the collection of the data undertaken by research agencies. Study 1 was the secondary analysis of qualitative data from five focus groups with different demographic compositions that followed a common question guide. Study 2 was a secondary data analysis of a pan-Canadian online survey with a sample (n = 1,475) representative of the overall adult population that assessed awareness of, and attitudes toward, ParticipACTION, Body Break, physical activity and sport participation. Path analysis tested a proposed model that was based on previous research on attitudes, brand and loyalty. Further, multi-group path analyses were conducted to compare younger generations with older ones.

The results provide direction and understanding of the importance of nostalgia in marketing sport participation programs across generational cohorts. For instance, in the four parent-adult focus groups, unaided references as well as frequent and detailed comments regarding Body Break were observed. Similarly, Millennials reported that Body Break was memorable, Canadian and nostalgic, with a mix of positive and negative comments. The importance of nostalgia was supported sequentially via results from the national survey. For example, while 54.1% of the 40–54 age-group associated ParticipACTION positively with Body Break, so did 49.8% of the 25–39-year age group, most of whom were not born when the promotion ran. Further, brand resonance was found to explain 4% more variance in moderate-to-vigorous physical activity (MVPA), the proxy for sport participation, for younger people compared to older people.

Results provide direction to brands, properties and agencies around the use of nostalgia in sport marketing campaigns and sponsorship efforts. For brands seeking to sponsor sport properties to alter their image with potential consumers in a new market, associating with a sport property that many view as nostalgic could improve the impact of the campaign. On the sport property side, event managers and marketers should both identify existing assets that members or fans are nostalgic about, as well as consider building nostalgia into current and new properties they develop.

This research is valuable to the sport marketing and sponsorship literature through several contributions. First, the use of nostalgia marketing, and nostalgia in general, is novel in the sport marketing and sponsorship literature, with future research in nostalgia and sponsorship recommended. Second, the potential to adopt or adapt Body Break to other sport participation and physical activity properties is empirically supported. Finally, the finding that very effective promotions can have a long-lasting effect, both on those who experienced the campaigns as well as younger populations who only heard about it, is notable.

The purpose of this study is to determine what the history of research in marketing implies for the reaction of the field to recent developments in technology due to the internet and associated developments.

This paper examines the introduction of new research topics over 10-year intervals from 1960 to the present. These provide the basic body of knowledge that drives the field at the present time.

While researchers have always borrowed techniques, they have refined them to make them applicable to marketing problems. Moreover, the field has always responded to new developments in technology, such as more powerful computers, scanners and scanner data, and the internet with a flurry of research that applies the technologies.

Marketing will adapt to changes brought on by the internet, increased computer power and big data. While the field faces competition for other disciplines, its established body of knowledge about solving marketing problems gives it a unique advantage.

This paper traces the history of academic marketing from 1960 to the present to show how major changes in the field responded to changes in computer power and technology. It also derives implications for the future from this analysis.

El objetivo de este estudio es examinar qué implica la historia de la investigación académica en marketing en la reacción del campo de conocimiento a los recientes desarrollos tecnológicos como consecuencia de la irrupción de Internet.

Esta investigación analiza la introducción de nuevos temas de investigación en intervalos de diez años desde 1960 hasta la actualidad. Estos periodos proporcionan el cuerpo de conocimiento básico que conduce al ámbito del marketing hasta el presente.

Aunque los investigadores tradicionalmente han tomado prestadas ciertas técnicas, las han ido refinando para aplicarlas a los problemas de marketing. Además, el ámbito del marketing siempre ha respondido a los nuevos desarrollos tecnológicos, más poder de computación, datos de escáner o el desarrollo de Internet, con un amplio número de investigaciones aplicando tales tecnologías.

El marketing se adaptará a los cambios provocados por Internet, aumentando el poder de computación y el big data. Aunque el marketing se enfrenta a la competencia de otras disciplinas, su sólido cuerpo de conocimiento orientado a la resolución de problemas le otorga una ventaja diferencial única.

Describe la historia académica del marketing desde 1960 hasta la actualidad, para mostrar cómo los principales cambios en este campo respondieron a los cambios tecnológicos. Se derivan interesantes implicaciones para el futuro.

Historia, Revisión, Cambio, Tecnología, Conocimiento, Internet, Datos, Métodos

Revisión general

This study aims to identify integrated marketing communication (IMC) antecedents and the consequences of planned brand identity in the context of higher education, and empirically test a number of hypotheses related to the constructs of these antecedents and consequences.

A model of the IMC antecedents and consequences of planned brand identity was tested in a survey conducted among stakeholders in two London-based universities. Structural equation modelling (SEM) was applied to gain insight into the various influences and relationships.

The study identifies and confirms key constructs in planned brand identity. IMC antecedents of planned brand identity, such as brand elements, service attributes, public relations and place/country of origin, were found to positively influence the planned brand identity consequences of awareness, image and reputation. However, websites, social media, advertising and direct marketing were not found to have significant influence.

The focus on two UK universities limits the generalisability of the findings. Future research should be conducted in other country settings to test the relationships identified in the present study. Also, future research may build on the study’s findings by investigating the attitudinal and behavioural consequences of brand identification in the higher education context.

Professionals responsible for universities’ promotional and branding activities need to evaluate the relative contributions of the IMC antecedents of planned brand identity. Brand elements such as design, colour and name, for example, should be reviewed to determine whether modifications are required in different international markets. The increasing prevalence of social media, one of the key antecedents of brand awareness, offers opportunities for universities to engage in brand co-creation by interacting with past, present and future students on relevant digital platforms. Finally, the place/country-of-origin cue is of particular relevance to institutions of higher education given the increasing numbers of students at both undergraduate and postgraduate levels who are choosing to study abroad (Melewar and Akel, 2005). The attraction of the UK as a country to study in, or the appeal of individual cities such as London, should be fully integrated into universities’ IMC strategies.

The study makes two main contributions. First is the theoretical contribution by identifying the core IMC antecedents and consequences of planned brand identity for universities and from this extrapolate key directions for future research. Second it is indicated that a number of managerial implications are designed to assist in the formulation of improved professional practice.

The business landscapes in Asia and Africa are predominantly characterized by small and medium enterprises (SMEs) facing significant resource constraints. Understanding the capability dynamics of these enterprises in such contexts carries significant implications for theory and practice. This paper aims to addresses a crucial question of whether increasing customer involvement capability consistently yields the necessary rent for enterprises operating under resource constraints in emerging markets in Asia and Africa. By investigating this question, the paper offers SMEs a more nuanced approach to capability development, enabling them to achieve better returns on their investments.

To ensure the robustness of the findings, data were collected from SME service firms operating in two emerging economies: India (Asia) and Ghana (Africa). Data were collected in two waves to allow for catering to specific environmental conditions not accounted for in the study. Two-stage data analysis was then conducted to test the hypothesized relationships across the two countries.

The findings reveal that customer involvement capability does not always lead to an increase in firm-level competitiveness, and the effect follows an inverted U-shaped pattern. However, the nature of this relationship varies under different market conditions in both contexts. Specifically, in periods of low customer demand and intense competition, the relationship is linear and positive. On the other hand, in periods of high demand and competition, the relationship becomes inverted U-shaped, returning to a direct relationship with firm-level competitiveness.

This paper provides a resolution to the critical issue of whether customer involvement capability consistently delivers firm performance benefits, particularly for resource-constrained SMEs in emerging markets. By explaining how SMEs in emerging markets can fully capitalize on their capability development to optimize their resources, this paper makes a distinctive contribution. Moreover, it sheds light on the importance of aligning involvement capabilities with prevailing market conditions for SMEs to reap the maximum benefits.

The purpose of the study was to examine the effect of corporate social responsibility (CSR) and marketing capability on consumer behavioral responses in the mobile telecommunication industry in Ghana. Particularly, the study estimated the moderating effect of marketing capability on the relationship between CSR and consumer behavioral responses.

Both customers and employees of three major mobile telecommunication companies were sampled for this work. A mixed linear regression technique was used to examine the relationship between corporate responsibility, marketing capability and customer behavioral responses.

The empirical results revealed that marketing capabilities moderate the relationship between CSR and consumer responses in the telecommunication industry.

The study proposes practical dimensions to the mobile telecommunication companies that the extensive development of strong marketing capabilities serves a conduit for CSR to achieve favorable consumer responses.

The results have opened up rather a limitation studies on the moderation role marketing capabilities in relationship between CSR and consumer behavioral responses in the telecommunication industry.

This study explores the mediating role of marketing management in the relationship between online presence and product innovation among Small and Medium Enterprises (SMEs).

The sample comprises 205 Costa Rican SMEs collected by the Global Competitiveness Project during the first half of 2019. The data were analyzed using a two-stage modeling strategy for ordinary regression models to analyze mediation effects.

Marketing management as a strategic resource or capability accounts for the relationship between online presence and product innovation performance in SMEs, meaning that online presence resources require complementary organizational capabilities in marketing management to enhance product innovation.

This study, grounded in the resource-based view theory, contributes to the innovation field by identifying marketing management capabilities as an intermediate strategic interaction between online presence and product innovation performance in SMEs. Thus, managers should recognize the advantages of integrating marketing management principles and tactics into online presence tools to realize the value of their products by tailoring them to their client’s needs.

This paper aims to highlight a model of industry drivers (industries’ environmental reputation and competitive intensity) that affect the sustainability marketing strategy segmentation, targeting and positioning based on customers’ environmental concern and explore the circumstances under which such a strategy affects performance.

The authors examined 64 Iranian export companies, which adopted sustainability marketing strategies across seven different industries. Achieved data are analyzed using a structural equation model methodology.

The results indicate that industries’ environmental reputation is positively related to the sustainability marketing strategies based on customers’ environmental concern and leads to superior financial and market performance. They also posit that competitive intensity has no significant effect on sustainability marketing strategies.

This study specifically examines the impact of industry drivers on sustainability marketing strategy and performance. Logically, there might be other factors affecting the sustainability or other value dimensions that are not addressed in this study.

This paper provides some understanding of how organizations strength their sustainability marketing strategy, and they have to consider what factors to adopt such strategy. This paper also facilitates a better understanding of the customers’ needs and concern as a factor influencing sustainability marketing strategy adoption and implementation. Identifying the customer segmentation and market targeting based on the industry’s environmental can lead to the business will normally tailor the marketing mix (4Ps) with the needs and expectations of the target in mind.

This paper strengthens the effect of environmental concern of customer to understand what influences the success of the sustainability marketing adoption and implementation by investigating the most influential factors such as industries’ environmental reputation and competitive intensity.

Este artículo pretende poner de manifiesto un modelo de impulsores de la industria (reputación ambiental e intensidad competitiva de las industrias) que afecta a la segmentación, orientación y posicionamiento de la estrategia de marketing de sostenibilidad basada en la preocupación ambiental de los clientes y explora las circunstancias en las que dicha estrategia afecta al rendimiento.

Se han examinado 64 empresas exportadoras iraníes que adoptaron estrategias de marketing sostenible en siete industrias diferentes. Los datos obtenidos se analizan utilizando SEM.

Los resultados indican que la reputación ambiental de las industrias se relaciona positivamente con las estrategias de marketing sostenibles basadas en la preocupación ambiental de los clientes y conlleva un rendimiento financiero y de mercado superior. También se afirma que la intensidad competitiva no tiene un efecto significativo en las estrategias de marketing sostenible.

Este estudio examina específicamente el impacto de los impulsores de la industria en la estrategia y el rendimiento de marketing sostenible. Lógicamente, podría haber otros factores que afecten a la sostenibilidad u otras dimensiones de valor que no se abordan en este estudio.

Se analiza cómo las organizaciones fortalecen su estrategia de marketing sostenible y tienen que considerar qué factores adoptar en dicha estrategia. Este artículo facilita también una mejor comprensión de las necesidades y preocupaciones de los clientes como un factor que influye en la adopción e implementación de la estrategia de marketing sostenible. La identificación de la segmentación de clientes y el mercado basado en el entorno ambiental de la industria puede llevar a que el negocio adapte su marketing mix (4Ps) teniendo en cuenta las necesidades y expectativas del público objetivo.

Esta investigación refuerza el efecto de la preocupación ambiental del cliente para comprender qué influye en el éxito de la adopción e implementación del marketing sostenible al investigar los factores más influyentes, como la reputación ambiental y la intensidad competitiva de las industrias.

Sostenibilidad, Estrategia de marketing, Industria, Impacto medioambiental, Clientes, Preocupación ambiental, Intensidad de la competencia, Exportación, Rendimiento financiero, Rendimiento de mercado.

Estudio de caso

The purpose of this paper is to provide a comprehensive review of the literature and develop a model of the determinants, indicators and effects of destination competitiveness (DC), as well as several propositions.

This study thoroughly reviewed extant literature to develop a conceptual model and propositions.

Two key findings are listed below. First, 12 different environmental factors are identified and 12 propositions are developed linking these environmental factors to DC. Second, a new indicator of DC is developed, namely, Tourism Attractions-Basics-Context (TABC) model. The TABC model is simple and directly taps into the benefits tourists seek in a destination.

Directions for future research are discussed in detail in the paper.

Managerial implications are discussed in detail in the paper.

The extant research on the topic of DC has been rather fragmented and incomplete in scope. The research presented in this paper addresses these limitations.