Digital transformation of traditional marketing business model in new industry era

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Aylin Caliskan ◽  
Yeşim Deniz Özkan Özen ◽  
Yucel Ozturkoglu
Keyword(s):  
Industry 4.0 ◽  
Service Sector ◽  
Business Models ◽  
Industrial Revolution ◽  
Marketing Mix ◽  
Point Of View ◽  
Content Type ◽  
Depth Analysis ◽  
New Business ◽  
Managerial Implications

PurposeImpact of the digitalization on the production and service sector is a highly popular topic in these days and especially, new business models receive increasingly more attention. Under the light of digitalization, the Fourth Industrial Revolution, so-called Industry 4.0, and its impacts on all kinds of process is a promising topic in the academia and also beneficial for the practitioners. Since there are arguments from scholars that Industry 4.0 has an important and shaping effect on marketing, the concept of 7P's in marketing should be incorporated in Industry 4.0 elements. From this point of view, this study focuses on developing the understanding of 7P's based on contemporary perspectives of Industry 4.0.Design/methodology/approachIn order to do that, different criteria related to integration of Industry 4.0 and marketing practices under each marketing-mix element are presented and one of the multi-criteria decision-making (MCDM) methods, the best–worst method (BWM) is used to prioritize the criteria for future implications.FindingsResults indicated that product, process and physical evidence are the most affected marketing-mix factors by considering Industry 4.0. managerial implications which were also presented based on the numerical results.Originality/valueAn in-depth analysis of literature review related to Industry 4.0 revealed that changing and developing technologies are examined in detail mostly around a production perspective. In order to fulfill the gap in the knowledge, this study focuses on the examination of impacts of Industry 4.0 on the marketing-mix strategy. To the best of the authors’ knowledge, this is the first study which merges Industry 4.0 with the marketing mix.

Procurement 4.0: factors influencing the digitisation of procurement and supply chains

2018 ◽  
Vol 24 (4) ◽  
pp. 965-984 ◽  
Author(s):  
Florian Bienhaus ◽  
Abubaker Haddud
Keyword(s):  
Supply Chains ◽  
Industry 4.0 ◽  
Online Survey ◽  
Business Models ◽  
Industrial Revolution ◽  
Primary Data ◽  
Content Type ◽  
Procurement Process ◽  
Enabling Technologies ◽  
The Impact

Purpose While digitisation is a key driver of the fourth industrial revolution (Industry 4.0); organisations have different approaches to deal with this topic to get a clearer picture of the opportunities and challenges concerning the digital transformation. The purpose of this paper is to identify the impact of digitisation on procurement and its role within the area of supply chain management. The research will also explore potential barriers to digitising procurement and supply chains and ways to overcome them. Finally, the significance of potential enabling technologies to the digitisation will also be examined. Design/methodology/approach A quantitative approached utilising an online survey was used to collect the primary data for this study. Data were collected from 414 participants directly involved with procurement or related business functions and work for different organisations in different industries. The survey included eight items about the impact of digitisation on organisational performance in the area of procurement and supply chains; ten items related to key barriers to digitisation of organisations and ways to overcome them; and seven items about enabling technologies to leverage procurement procedures and processes digitisation. All of these items utilised the Likert five-point level of agreement scale. Findings The findings indicate that digitisation of procurement process can yield several benefits including: supporting daily business and administrative tasks, supporting complex decision-making processes, procurement will become more focussed on strategic decisions and activities, procurement will become a strategic interface to support organisational efficiency, effectiveness, and profitability, and supporting the creation of new business models, products, and services. The authors were also able to confirm that there are barriers to digitising procurement process and supply chains and such barriers found in existing procedures, processes, capacities, and capabilities. Finally, the significance of a number of enabling technologies to the digitisation process was revealed. Originality/value To the best of the authors’ knowledge, this is the first study of its kind with participants located world-wide. Industry 4.0 as a topic had been explored within different business areas and functions but very limited research specifically explored potential impact, barriers, and enabling technologies of procurement 4.0. The results can be beneficial for organisations already implemented Industry 4.0 or planning to do so. The study can also benefit academic scholars interested in the researched topic, business professionals, organisations within different sectors, and any other party interested in understanding more the concept of procurement 4.0.

Industry 4.0 and Sustainability

2020 ◽  
pp. 67-84
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

scholarly journals Clarifying the disruptive innovation puzzle: a critical review

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sucet Jimena Martínez-Vergara ◽  
Jaume Valls-Pasola
Keyword(s):  
Critical Review ◽  
Business Models ◽  
Disruptive Innovation ◽  
Complex Nature ◽  
Content Type ◽  
Disruptive Innovation Theory ◽  
Depth Analysis ◽  
New Business ◽  
Key Issues ◽  
New Business Models

PurposeDisruptive innovation theory has attracted the interest of researchers and practitioners across many areas, resulting in the development of new business models and strategies. Despite the increasing scholarly attention, its definition has not yet been understood, the understanding of the term “disruptive” and the complex nature of this innovation has provoked some misinterpretations, and the meaning remains ambiguous. To address this confusion, this article undertakes a critical review of disruptive innovation in an attempt at providing a solid theoretical grounding.Design/methodology/approachThe review examines the key issues of published articles, identified after conducting a search in the Web of Science scholarly database. The analysis highlights the basic definitions of disruptive innovation, showing its evolution, types and its characteristics. This article also examines the behaviours adopted by the actors associated with disruptive innovation (i.e. incumbents, entrants and customers).FindingsOverall, this article finds that disruptive innovation has its own elements to be identified, requiring an in-depth analysis to avoid confusing with other innovation approaches. The findings suggest that disruptive innovation affects businesses and sectors in varied and complex ways because customers from low-end market and mainstream market appreciate this innovation. Further, its impact on practice is huge and incites further efforts in establishing a stronger theoretical grounding.Originality/valueOur research contributes on the evolution of this theory, helping to better understand the phenomenon of disruption and can be used for different types of research settings.

Pre-event marketing and territorial governance: the case of Monza and Brianza province

2016 ◽  
Vol 19 (2) ◽  
pp. 173-203 ◽  
Author(s):  
Laura Gavinelli ◽  
Maria Cristina Morra ◽  
Angelo Di Gregorio
Keyword(s):  
Marketing Mix ◽  
Point Of View ◽  
Multiple Sources ◽  
Public And Private ◽  
Content Type ◽  
Event Marketing ◽  
Managerial Implications ◽  
A Minor ◽  
Mega Event

Purpose The purpose of this paper is to examine whether and how a mega event can be an opportunity for a territory to be developed as a marketing product. The topic is analysed in the pre-event phase, from the point of view of marketing mix and governance. Design/methodology/approach A qualitative method was adopted with a case study on Monza and Brianza province (northern Italy) which is strongly involved in EXPO2015 initiatives. The triangulation among multiple sources such as documents, interviews and observation, allow for deeper data collection. Findings A mega event can enhance development and repositioning also of minor territories. There are, however, two main conditions for benefiting from such an opportunity: to plan the marketing mix, taking into account people and partnerships, and to ensure a vision on territory through coordination with a legacy perspective. Research limitations/implications This study is not representative or generalizable. However, it gives insights into the mechanism of coordination and collaboration between different stakeholders and on how to plan the Monza and Brianza marketing mixes. Practical implications The research has implications for governance mechanisms and for marketing politics both for public and private decision-makers, especially in the pre-mega event phase, but also with some inputs into legacy phase. Originality/value The research is original for three reasons: the context concerns Monza and Brianza province, and so can help understand how mega events can help a minor territory reposition itself; the research looks at the managerial implications of place marketing in this pre-event phase; and in Italy, provinces are being reorganized or abolished: this case study looks at a province and its future.

Industry 4.0 will arrive unevenly

2016 ◽  
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Capital Expenditure ◽  
Intelligent Manufacturing ◽  
Content Type ◽  
Production Distribution ◽  
New Business ◽  
Production Flexibility ◽  
Smart Factories ◽  
New Business Models

Subject Outlook for industry 4.0. Significance Dubbed variously 'Industry 4.0', 'intelligent manufacturing' or the 'internet of everything', cyber-physical systems that control the flow of materials, products and information are starting to transform industrial production and supply chains. They will eventually disrupt business models and challenge policymakers. Impacts Improved production flexibility and vertical integration with customers should facilitate bespoke manufacturing ('mass customisation'). Entire value chains will vertically integrate, embracing product design, procurement, production, distribution, sales and maintenance. Horizontal integration around smart factories will create new business models based on manufacturing as a service (MaaS). Pay-by-use and subscription-based MaaS could upend traditional models for financing capital expenditure on plant and equipment.

Mapping of scientific coverage on education for Entrepreneurship in Higher Education

2019 ◽  
Vol 13 (1/2) ◽  
pp. 84-104 ◽  
Author(s):  
Amador Durán-Sánchez ◽  
María de la Cruz Del Río-Rama ◽  
José Álvarez-García ◽  
Diego Fernando García-Vélez
Keyword(s):  
Higher Education ◽  
Business Models ◽  
Bibliometric Study ◽  
Content Type ◽  
Subsequent Investigation ◽  
Entrepreneurial Spirit ◽  
Open Access Journals ◽  
Depth Analysis ◽  
New Business ◽  
State Of Research

PurposeThe purpose of this paper is to present an in-depth analysis of the current state of research related to Education for Entrepreneurship in Higher Education. Education for entrepreneurship is one of the fastest growing fields within academic training worldwide, which is a good indicator of the importance that entrepreneurship and the creation of companies have for the economic development of any society. Education for entrepreneurship is essential, not only to promote an entrepreneurial spirit among young people but also to provide the basic skills, knowledge and innovative attitudes to carry out new business models successfully.Design/methodology/approachA descriptive bibliometric study was carried out with analysis of citations of 164 articles included in the multidisciplinary database Scopus (Elsevier) until 2017.FindingsThe results obtained show a growing interest of the scientific community in its study, as shown by the significant increase both in the number of articles and their citations in recent years.Research limitations/implicationsIn any bibliometric study, the limitation involved when analysing the results, the choice of a specific database and a specific search equation must be taken into account. With respect to the search terms, those used in this research may not be possible, the inclusion of new terms will alter the results. On the other hand, the aim was not to evaluate the quality of the content of the selected articles at any time, an objective that can be considered in a subsequent investigation, but a descriptive-quantitative analysis of the works and citations related to Education for Entrepreneurship in Higher Education, present in Scopus. To expand the present study, it would be interesting to examine the documents indexed in other databases (Redalyc, Scielo, ProQuest, Directory of Open Access Journals[DOAJ]), together with the possibility of including comparative and overlapping studies between them.Originality/valueThe purpose of this work is to serve as a reference for researchers who are developing their studies in the general field of education for entrepreneurship and more specifically in the field of higher education, to improve their knowledge on the most relevant articles, the most productive authors or the key scientific journals that address this topic.

scholarly journals Extending micro-credentials to micro-apprenticeships for the Fourth Industrial Revolution: Enhancing vocational education and training in the post-pandemic’s ‘new normal’

2021 ◽  
Vol 12 (1) ◽  
pp. 39-43
Author(s):  
Pi-Shen Seet ◽  
Janice T. Jones
Keyword(s):  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
Vocational Education And Training ◽  
New Normal ◽  
International Borders ◽  
New Business ◽  
Digital Competencies ◽  
Increasing Demand ◽  
Restricted Mobility

As noted in the foreword of this Special Issue, COVID-19 has accelerated the Fourth Industrial Revolution’s or Industry 4.0’s disruption to the labour market (Sally, 2021). Beyond Industry 4.0 (I4.0), the COVID-19 pandemic has accelerated the adoption of digital technologies by enterprises, underscoring the need for workers to continuously upskill their digital competencies in order to remain relevant (Heinonen & Strandvik, 2021). Besides digitisation, organisations have had to innovate and adopt new business models to adapt to the ‘new normal’ of surviving and growing beyond the COVID-19 pandemic (Heinonen & Strandvik, 2021). In countries that largely relied on skilled migration as an important source of talent, the closure of international borders has restricted mobility of human capital resulting in insufficient skilled employees to meet the current and ever-increasing demand for skills (Guadagno, 2020).

Servitization in the creative and cultural industries

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jon Sundbo ◽  
Luis Rubalcaba ◽  
Faïz Gallouj
Keyword(s):  
Conceptual Model ◽  
Service Sector ◽  
Business Models ◽  
Cultural Industries ◽  
Innovation Ecosystem ◽  
Content Type ◽  
Leading Role ◽  
New Business ◽  
Five Elements ◽  
The Right

Purpose This paper aims to develop a conceptual framework for understanding the role of servitization in the creative and cultural industries (CCI). Design/methodology/approach A conceptual model is proposed based on five elements: servitization drivers (digitalization in particular), agents, modes (based on the standardization/customization dynamics), servitization mechanisms (the authors provide a new classification) and service experiences. Findings CCI is not considered a natural part of the service sector. They drive economic and social development and are part of the innovation ecosystem. They are confronting a set of emerging dynamics in which servitization plays a leading role. Servitization is a way to move toward value co-creation by transforming existing business models. Servitization – with digitalization facilitates the co-creation of CCI-based experiences for customers, users and other stakeholders. Research limitations/implications In terms of further research implications, these theoretical and managerial considerations call for empirical research of the servitization of CCI to investigate how and how much it develops. Practical implications CCI companies need new business models that combine servitization, digitalization and value co-creation in the right mix. “One size fits all” does not work. Business models have to consider the right mix. Originality/value The proposed conceptual model provides a novel understanding of servitization and CCI and changes the focus from the “production” or push side (e.g. artistic creativity and messages) that has characterized much CCI theory toward the demand or pull side and buyers’ (users) increased power.

Industry 4.0 and Sustainability

2021 ◽  
pp. 113-130
Author(s):  
Sibel Yildiz Çankaya ◽  
Bülent Sezen
Keyword(s):  
Sustainable Development ◽  
Global Warming ◽  
Natural Resources ◽  
Industry 4.0 ◽  
Business Models ◽  
Industrial Revolution ◽  
New Business ◽  
The Impact ◽  
Industrial Revolutions ◽  
New Business Models

Modern industry developed over several centuries and three industrial revolutions. Today, we experience the fourth era of the industrial revolution, Industry 4.0. The advance of industrialization brought along many problems, including environmental pollution, global warming, and depletion of natural resources. As a result, the concept of sustainability began to gain importance. Sustainability can be achieved through a balance between economic, social, and environmental processes. In order to establish such balance, businesses need new business models or insights. At this point, Industry 4.0 can be regarded as a new business mindset that will help businesses and communities move towards sustainable development. The technologies used by Industry 4.0 bear a strong promise to solve these problems, after all. Even though Industry 4.0 attracts a lot of attention lately, few works are available on its impact on sustainability. This chapter examines the impact of Industry 4.0 on sustainability.

The contribution of VSA and SDL perspectives to strategic thinking in emerging economies

2014 ◽  
Vol 24 (6) ◽  
pp. 565-591 ◽  
Author(s):  
Jaqueline Pels ◽  
Sergio Barile ◽  
Marialuisa Saviano ◽  
Francesco Polese ◽  
Luca Carrubbo
Keyword(s):  
Emerging Economies ◽  
Business Models ◽  
Systems Approach ◽  
Research Question ◽  
Content Type ◽  
Viable Systems ◽  
Dynamic View ◽  
New Business ◽  
Inclusive Business ◽  
Managerial Implications

Purpose – The purpose of this paper is to reflect upon strategic marketing in emerging economies (EEs). It tries to answer the research question: what new business models are enabled by the Viable Systems Approach (VSA) and Service-Dominant Logic (SDL) perspectives? Design/methodology/approach – The paper is developed by integrating two well-established perspectives – VSA and SDL – and applying them to inclusive businesses. Findings – The integration of these perspectives allows the authors to recognize a convergence toward business models that seem to be consistent with the principles of inclusive capitalism. The authors claim that by shifting between a reductionist/static and a holistic/dynamic view, these perspectives can be integrated, thus revealing an interesting contribution to the understanding of inclusive business. Specifically, they contribute by highlighting how the economic and social dimensions are intertwined and by highlighting that the management-thinking perspective, which has dominated in recent decades, should shift toward a more inclusive vision. Research limitations/implications – The paper represents an attempt to address an inclusive capitalism perspective in the context of marketing. Nevertheless, the conceptual reasoning developed in the paper should be further supported by empirical research carried out in the context of EEs. Practical implications – The paper has relevant managerial implications that suggest a rethinking of the business model to market with EEs. Originality/value – The paper contributes to the research on inclusive capitalism by linking it to well-grounded conceptual approaches to business that recapture a harmonious relationship between the economy and society.

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