Product Innovation and Personalization via Social Media

2022 ◽  
pp. 288-302
Author(s):  
Rajiv Ranjan
Keyword(s):  
Social Media ◽  
Educational Technology ◽  
Big Data ◽  
Competitive Advantage ◽  
Industry 4.0 ◽  
Corporate Sustainability ◽  
Venture Capitalists ◽  
Sustainable Competitive Advantage ◽  
Customer Data ◽  
Start Up

Innovation of products continually, customization, and personalization are the strategies to gain sustainable competitive advantage for companies operating in Industry 4.0 era. Corporations tend to turn to the new social media for access to customer data. How much big data in terms of variety, veracity, velocity, and volume the corporation has determines its prediction architecture and hence customer satisfaction. This is reflected both in terms of inflecting revenues as well as investment from the venture capitalists (VCs), who then see great potential in the business, whether it be a start-up, an established organization, or its spin-off. This chapter explains this new management strategy for corporate sustainability through application of social media to acquire personal consumer and customer data. This is to devise customised products, personalize experience, and innovate for the two. The chapter takes exceptional growth story of BYJU's an educational technology company, as an example to elucidate the theory, concepts, and ideas discussed.

Deal of the day at Cherry.ee

2011 ◽  
Vol 1 (3) ◽  
pp. 1-13
Author(s):  
Katri Kerem ◽  
Dietmar Sternad
Keyword(s):  
Social Media ◽  
Strategic Management ◽  
Competitive Advantage ◽  
Business Model ◽  
Strategic Decision ◽  
First Year ◽  
Sustainable Competitive Advantage ◽  
Content Type ◽  
Start Up ◽  
Deal Of The Day

Subject area Marketing, branding, strategic management, online retailing, and entrepreneurship. Study level/applicability Postgraduate courses in: strategic management; marketing management (branding); and entrepreneurship. Case overview The case describes the founding and the first year of an Estonian internet start-up, the “deal-of-the-day” web site Cherry.ee. The focal topic of the case is the analysis of alternative scenarios for the further development of the company after the first year in business: selling the company, entering into a merger with similar businesses, or continuing to develop the brand independently. The case gives an example of creating a new market, introducing a new business model and launching a brand with substantial use of social media marketing. The successful business model was quickly copied by a lot of followers creating a fierce competitive environment and raising a question of sustainability of the competitive advantage. The case provides an opportunity to discuss how to strategically handle the development of a growing start-up company in an increasingly competitive market environment. Expected learning outcomes Understanding the critical success factors and potential pitfalls for an internet start-up; developing skills to critically analyze the concept of sustainable competitive advantage; comprehension of the main factors influencing the strategic decision on whether to follow a growth, cooperation, or exit strategy; and awareness of the relative advantages of online and offline marketing and understanding how social media strategies can be used to build a brand. Supplementary materials Teaching note.

Rethinking the Business Strategy in the Gaming Industry in India: The Case of Virtual Infocom

2018 ◽  
Vol 7 (3) ◽  
pp. 176-183
Author(s):  
Subrata Chattopadhyay ◽  
Subhajit Bhattacharya ◽  
Arijit Bhattacharya
Keyword(s):  
Competitive Advantage ◽  
Business Strategy ◽  
Sustainable Competitive Advantage ◽  
Gaming Industry ◽  
Market Strategy ◽  
Start Up ◽  
The World ◽  
Global Player ◽  
Training Institute

The case is about rethinking the business strategy in the gaming industry in India vis-à-vis the world. It discusses the start-up Virtual Infocom (Virtual Information & Communications) and how over the years it has grown into a formidable local and global player. The case is about revamping market strategy and the attributes therein, the prospects and the potential, and envisages to explore as to how the company should, if so, alter their business strategy to be a top brand reckoning in the industry. Virtual Infocom, primarily a training institute, is considering whether to develop games for the market instead of being a secondary player. It unravels the dilemma as to whether it should continue with training or diversify to earn revenues globally to ensure a sustainable competitive advantage in the gaming industry.

The use of social media by higher education institutions

2020 ◽  
Vol 65 (2) ◽  
pp. 30-42
Author(s):  
Jacek Maślankowski ◽  
Łukasz Brzezicki
Keyword(s):  
Higher Education ◽  
Social Media ◽  
Big Data ◽  
Competitive Advantage ◽  
Full Advantage ◽  
Higher Education Institutions ◽  
Marketing Activities ◽  
Use Of Social Media ◽  
Marketing Methods

Higher education institutions have been using, to an increasing extent, various marketing methods and tools, which are becoming a decisive factor in building their competitive advantage and achieving success. In order to initiate and maintain long-term relationships with their communities and to conduct other marketing activities, higher education institutions have been increasingly often using social media, which has enabled them to actively create their image. The aim of this study is to utilize big data methods and tools to measure the scale of the use of social media by the higher education sector. The research carried out in the first quarter of 2019 demonstrates that large higher education institutions, i.e. those with over 1696 students (according to the adopted classification), use social media to communicate current news to a larger extent than the smaller ones. A significantly smaller percentage of mediumsized higher education institutions (223-1695 students) and small ones (up to 222 students) have accounts in social media, thus failing to take full advantage of the potential of these media. Higher education institutions use social media mainly to promote events they organise.

scholarly journals Real-time Visibility, Operational Insights and Actions with SAP Operational Process Intelligence, powered by HANA

2021 ◽  
Author(s):  
Harsh Jegadeesan
Keyword(s):  
Big Data ◽  
Competitive Advantage ◽  
Real Time ◽  
Sustainable Competitive Advantage ◽  
Business Outcomes ◽  
Operational Process ◽  
The Past ◽  
Business Operations ◽  
Operational Intelligence ◽  
Operational Data

Abstract Over the past decade, business operations in organizations are increasingly generating vast amounts of data. This steep increase in operational data – often known as big data – is a result of organizations capturing data at more fine-granular levels in business operations. Leveraging operational big data to improve business operations can create a sustainable competitive advantage to organizations. In this paper, we argue that operational big data is ”dead data” unless it is contextualized and made actionable for line-of-business users. Moreover, we explain how organizations can use SAP Operational Process Intelligence and the power of HANA to first, contextualize operational big data for real-time operational intelligence, second, provide line-of-business users visibility into business operations and business situations as they evolve and third, propose appropriate actions to respond to these business situations and help them reach business outcomes.

Exploring the Usage of Big Data Analytical Tools in Telecommunication Industry in Oman

Web Services ◽  
2019 ◽  
pp. 459-472
Author(s):  
Himyar Ali Al Jabri ◽  
Ali H. Al-Badi ◽  
Oualid Ali
Keyword(s):  
Information Technology ◽  
Social Media ◽  
Big Data ◽  
Data Management ◽  
Competitive Advantage ◽  
Case Studies ◽  
Telecommunication Industry ◽  
A Value ◽  
Telecom Industry ◽  
Analytical Tools

Big Data has recently become a very hot topic in the field of Information Technology and Data Management. Data generated by the company's daily operations through different resources such as social media, etc. is very important because it can bring a value that will lead to a competitive advantage. The objectives of this research are to: 1) Explore the analytical tools used to manipulate Big Data in Omani telecom industry, 2) Present the benefits of using these tools, the extent of use, and the features specifically promoted these tools, and 3) Highlight the challenges/obstacles that the telecom industry in Oman facing in adopting/using Big Data analytical tools. To achieve the research objectives two case studies were conducted among the main telecom operators in Oman. This research concluded that both studied telecom operators in Oman are not ready for the DBAs. Both operators need to invest in developing the capabilities that enable them to use these tools. Once that is satisfied, then other components like the infrastructure, tools, and data can be managed very well.

Re-Shaping Business Strategy in the Era of Digitization

2020 ◽  
pp. 76-97
Author(s):  
Deniz Palalar Alkan
Keyword(s):  
Artificial Intelligence ◽  
Internet Of Things ◽  
Competitive Advantage ◽  
Business Strategy ◽  
Industry 4.0 ◽  
Digital Transformation ◽  
Sustainable Competitive Advantage ◽  
Digital Networks ◽  
Global Marketplace ◽  
Existing Structures

In the era of digitization terms such artificial intelligence (AI), internet of things (IoT) and related concepts are frequently used to describe a phenomenon that will eventually connect all things to digital networks that will lead to digital transformation of existing business and how they formulate strategies. One of the reasons behind such a paradigm shift is due to the demands of hyper-competition companies face in the global marketplace. Changing nature of the competitive landscape forces companies to re-think their strategy and align existing structures to achieve agility, flexibility, and a sustainable competitive advantage. Thus, companies need to re-think and conceptualize their overall strategies including the means to achieve sustainable competitive advantage. The trends that are shaping the Industry 4.0 will shape the way companies formulate strategies, create collaboration, and convergence of all the actors in the ecosystem to achieve agility, flexibility, and maximize efficiency.

How Social Media is Transforming Marketing?

2019 ◽  
pp. 318-335
Author(s):  
İbrahim Kırcova ◽  
Ebru Enginkaya
Keyword(s):  
Social Media ◽  
Competitive Advantage ◽  
Business Environment ◽  
Communication Strategy ◽  
Sustainable Competitive Advantage ◽  
Consumer Experience ◽  
Experience Marketing ◽  
Social Media Tools ◽  
Digital Channels ◽  
Communication Planning

Integrating companies to digital channels is a necessity to build and maintain a competitive advantage in today's market conditions. In the business environment, companies realize that sustainable competitive advantage can be gained only by understanding customers' needs and expectations, developing activities that meet their demands, ease their work, and engage them to the brand to create difference and value. Success in marketing will be driven by an effective communication and consumer experience. Marketing and brand managers are in the process of determining how social media tools impact them and what their digital transformation approach and communication strategy should be. This chapter examines the importance of social media for companies and benefits of social media on the performance of marketing processes that enable better communication, planning, and execution from consumer engagement to consumer purchase.

scholarly journals Sustainable Competitive Advantage Driven by Big Data Analytics and Innovation

2020 ◽  
Vol 10 (19) ◽  
pp. 6784
Author(s):  
Muawia Ramadan ◽  
Hana Shuqqo ◽  
Layalee Qtaishat ◽  
Hebaa Asmar ◽  
Bashir Salah
Keyword(s):  
Big Data ◽  
Competitive Advantage ◽  
Direct Effect ◽  
Data Analytics ◽  
Structural Equation ◽  
Big Data Analytics ◽  
Manufacturing Firms ◽  
Data Availability ◽  
Equation Modeling ◽  
Sustainable Competitive Advantage

Big data analytics (BDA) is one of the main pillars of Industry 4.0. It has become a promising tool for supporting the competitive advantages of firms by enhancing data-driven performance. Meanwhile, the scarcity of resources on a worldwide level has forced firms to consider sustainable-based performance as a critical issue. Additionally, the literature confirms that BDA and innovation can enhance firms’ performance, leading to competitive advantage. However, there is a lack of studies that examine whether or not BDA and innovation alone can sustain a firm’s competitive advantage. Drawing on previous studies and dynamic capability theory, this study proposes that big data analytics capabilities (BDAC), supported by a high level of data availability (DA), can improve innovation capabilities (IC) and, hence, lead to the development of a sustainable competitive advantage (SCA). This study examines the proposed hypotheses by surveying 117 manufacturing firms and analyzing responses via partial least squares–structural equation modeling (PLS-SEM) statistical software. Findings reveal that BDAC relies significantly on the degree of DA and has a significant role in increasing IC. Furthermore, the analysis confirms that IC has a significant and direct effect on a firm’s SCA, while BDAC has no direct effect on SCA. This study provides valuable insights for manufacturing firms to improve their sustainable business performance and theoretical and practical insights into BDA implementation issues in attaining sustainability in processes.

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