The changing role of marketing: Digital transformation of marketing

2020 ◽  
pp. 77-94
Author(s):  
Storbacka Robert ◽  
Kaj Anold
Keyword(s):  
Business Models ◽  
Academic Research ◽  
Marketing Research ◽  
Digital Transformation ◽  
Digital Marketing ◽  
Technology Firms ◽  
Back Office ◽  
Changing Role ◽  
Channel Environment

Digitalization affects every aspect of a firm’s business model–from front-end to back-office, from how firms create value for their customers to how they capture value– and doing so can reshape every facet of the firm. By adapting their business models to the possibilities of technology, firms are facing an accelerating transformation of their activities, offering new opportunities for “out-of-the-box” development of new processes and tools, which effectively challenge deeply engrained functional silo- based thinking. Despite the ubiquity of digital transformation, much academic research still seems to take a functional view (Verhoef et al. 2019), where information systems look into the development and adoption of specific technologies (Nambisan et al. 2017) or analytics schemes (Davenport and Ronanki 2018), strategic management research focuses on understanding the role of new digitalized business models (Foss and Saebi, 2017), and marketing research focuses on what is generally called “digital marketing” or the development of an omni-channel environment (Verhoef et al. 2015; Lamberton and Stephen 2016; Kannan and Li 2017).

Revisiting the concept of a competitive “cash advantage”

2015 ◽  
Vol 43 (4) ◽  
pp. 38-46 ◽  
Author(s):  
Joseph Calandro, Jr.
Keyword(s):  
Competitive Advantage ◽  
Corporate Strategy ◽  
Academic Research ◽  
Cash Holdings ◽  
Content Type ◽  
Cash Reserves ◽  
Changing Role ◽  
Viable Method ◽  
Practical Implications

Purpose – The purpose of this paper is to profile how ample cash holdings can serve as a competitive advantage by first mitigating the risk of becoming a forced seller during times of distress, and then positioning a firm to take strategic advantage of forced selling and other forms of distress-generated opportunities. Design/methodology/approach – The author reviews the changing role of cash over time in corporate strategy, and how inadequate cash has caused or contributed to corporate failures. Findings – The findings of this paper, which are supported by historical and contemporary examples, are that ample cash reserves can be a powerful source of comparative advantage. Practical implications – This article supports earlier work published in Strategy & Leadership that shows how Graham-and-Dodd-based analysis is a viable avenue of academic research and a viable method with which to assess and formulate corporate strategic initiatives such as mergers and acquisitions, share buy-backs, risk management and, in this case, the strategic uses of cash. Originality/value – This paper offers leaders and financial executives a practical explanation of how ample cash holdings can serve as a competitive advantage.

scholarly journals The digital transformation of the healthcare industry: exploring the rise of emerging platform ecosystems and their influence on the role of patients

2020 ◽  
Vol 13 (3) ◽  
pp. 1033-1069
Author(s):  
Sebastian Hermes ◽  
Tobias Riasanow ◽  
Eric K. Clemons ◽  
Markus Böhm ◽  
Helmut Krcmar
Keyword(s):  
Digital Health ◽  
Academic Research ◽  
Digital Transformation ◽  
Healthcare Industry ◽  
Value Capture ◽  
Digital Platforms ◽  
Systems Research ◽  
Wide Range ◽  
Platform Ecosystems

AbstractWhile traditional organizations create value within the boundaries of their firm or supply chain, digital platforms leverage and orchestrate a platform-mediated ecosystem to create and co-create value with a much wider array of partners and actors. Although the change to two-sided markets and their generalization to platform ecosystems have been adopted among various industries, both academic research and industry adoption have lagged behind in the healthcare industry. To the best of our knowledge current Information Systems research has not yet incorporated an interorganizational perspective of the digital transformation of healthcare. This neglects a wide range of emerging changes, including changing segmentation of industry market participants, changing patient segments, changing patient roles as decision makers, and their interaction in patient care. This study therefore investigates the digital transformation of the healthcare industry by analyzing 1830 healthcare organizations found on Crunchbase. We derived a generic value ecosystem of the digital healthcare industry and validated our findings with industry experts from the traditional and the start-up healthcare domains. The results indicate 8 new roles within healthcare, namely: information platforms, data collection technology, market intermediaries, services for remote and on-demand healthcare, augmented and virtual reality provider, blockchain-based PHR, cloud service provider, and intelligent data analysis for healthcare provider. Our results further illustrate how these roles transform value proposition, value capture, and value delivery in the healthcare industry. We discuss competition between new entrants and incumbents and elaborate how digital health innovations contribute to the changing role of patients.

Instilling FinTech Culture in a Digitalized World

2021 ◽  
pp. 74-101
Author(s):  
Wassim J. Aloulou
Keyword(s):  
Business Models ◽  
Future Research ◽  
Financial Industry ◽  
Research Directions ◽  
Technology Firms ◽  
Entrepreneurial Culture ◽  
Disruptive Innovations ◽  
Future Research Directions ◽  
Changing World

FinTech has revolutionized the financial industry by its disruptive innovations and emergent technology-enabled business models. After defining the concept of FinTech, the chapter sheds the light on its drivers, features, and challenges, and discusses the elements and attributes of the FinTech ecosystem and the diversity of FinTech models operating in the sector. Then, the chapter emphasizes the role of a FinTech culture as a vibrant digital, agile, customer-centric, creative technology-driven, and entrepreneurial culture in a digitalized and changing world. Such culture is needed for enterprising individuals and startups, incumbents, and established financial and technology firms and for the economy and the society as a whole to nurture a FinTech community and benefit from the ecosystem's resources and opportunities. The chapter suggests certain recommended future research directions for the emerging field of FinTech at individual, corporate, incumbent, and institutional levels to be investigated in countries developing the FinTech industry.

scholarly journals Impacts of Digital Technostress and Digital Technology Self-Efficacy on Fintech Usage Intention of Chinese Gen Z Consumers

2021 ◽  
Vol 13 (9) ◽  
pp. 5077
Author(s):  
You-Kyung Lee
Keyword(s):  
Digital Technology ◽  
Self Efficacy ◽  
Significant Interaction ◽  
Marketing Research ◽  
Digital Marketing ◽  
Moderating Effects ◽  
Managerial Implications ◽  
Research Findings ◽  
The Relationship

The role of digital technostress and self-efficacy in digital marketing research is seldom discussed and even more rarely examined among Gen Z consumers. This study investigates the relationships between four sub-dimensions of technostress (complexity, overload, invasion, and uncertainty), digital technology self-efficacy, and fintech usage intention. Data from a total of 266 Chinese Gen Z consumers were used in multiple regression analysis. The results of the study generally support that all sub-dimensions of technostress were negatively related to fintech usage intention. Related to the moderating effects of digital technology self-efficacy on the relationship between the four sub-dimensions of technostress and fintech usage intention, significant interaction effects with complexity and overload were found. Finally, the study discusses the theoretical and managerial implications of the research findings.

scholarly journals Rola banków i sektora FinTech w świetle implementacji dyrektywy PSD2 ​

2018 ◽  
pp. 159-169
Author(s):  
Jacek Grzywacz ◽  
Ewa Jagodzińska-Komar
Keyword(s):  
Financial Services ◽  
Business Models ◽  
Banking Sector ◽  
Banking System ◽  
Technical Standards ◽  
Innovative Solutions ◽  
New Business ◽  
Close Cooperation ◽  
Changing Role

The aim of the article is to define the prospects for the development of cooperation between the banking sector and FinTech in the context of the implementation of the PSD2 directive. First, attention was drawn to the changing role of banks that have already taken actions to use the opportunities related to the implementation of this EU regulation of the European payments market. It has been pointed out that the opening of the banking system will result in close cooperation with the FinTech sector, so-called API economics, and this will affect the emergence of new business models. Next, new solutions developed in the PSD2 Directive were presented, with reference to new regulatory technical standards between the banking sector and third parties. The last issue raised in the article concerns cooperation between banks and the FinTech sector. Financial institutions should use innovative solutions offered by fintechs and thanks to that they will increase operational efficiency and create products and services better suited to clients' needs. In the next years, it will be possible to observe how the financial services market will change and which entities will play a significant role in it.

scholarly journals Marketing Research in the 21st Century: Opportunities and Challenges

2018 ◽  
Vol 17 (5) ◽  
pp. 666-699 ◽  
Author(s):  
Joseph F. Hair Jr. ◽  
Dana E. Harrison ◽  
Jeffrey J. Risher
Keyword(s):  
Data Analytics ◽  
Marketing Research ◽  
Digital Transformation ◽  
Customer Behavior ◽  
Management Skills ◽  
Coffee Shop ◽  
Digital Space ◽  
Marketing Function ◽  
Personal Mobile Devices

The role of marketing for consumers and businesses is rapidly evolving (Ferrell, Hair, Marshall Tamilia 2015). Indeed, the marketing function is fundamentally changing as a result of the digital transformation, data, data analytics and most recently, personal mobile devices, such as infusion software, which track time as individuals work or play, can search for local businesses or customers while in a coffee shop, send an invoice or quote from a clients office, and much more (Shah et al 2014). Marketing research design and analysis methods are also changing rapidly (Hair, Black, Babin Anderson 2019). These changes are emerging from transformations in management skills (Henke, Levine McInerney 2018; Davenport 2018), technological innovation, particularly in the digital space (Davenport 2018), and continuously evolving customer behavior (needs and expectations) (Wedel Kannan 2016). To continue being relevant, marketing research must remain as dynamic as the markets themselves.

scholarly journals Learning commons reference collections in ARL libraries

2016 ◽  
Vol 44 (3) ◽  
pp. 411-430
Author(s):  
Cindy Pierard ◽  
Sever Bordeianu
Keyword(s):  
Random Sample ◽  
Academic Libraries ◽  
Academic Research ◽  
Target Population ◽  
Content Type ◽  
Research Libraries ◽  
Learning Commons ◽  
Reference Collection ◽  
Changing Role

Purpose This paper aims to explore the changing role of the reference collection in learning commons at Association of Research Libraries (ARL) member libraries. Design/methodology/approach A 15-question survey was sent to managers at academic research libraries with membership in the ARL. Respondents were asked about their learning commons and reference collections. To increase the sample size, the researchers conducted phone interviews with a random sample of individuals from the same target population, utilizing the same questions and generated additional results. Findings Most respondents had or were planning learning commons for their libraries. The role of reference collections varied. Of those who had retained a print reference collection, the majority believed them to be little-used. The researchers believe this may signal an end to a formerly cherished idea: the primacy of the reference collection within a library learning space. Research limitations/implications This study involved a random sample of public service managers at North American ARL academic libraries. While the sample is believed to be representative of the broader population, findings may not be generalizable to all ARL libraries or to other academic libraries. Originality/value Many papers have been written about information or learning commons spaces and their distinctive elements. Others have discussed the changing role of reference collections. This paper is unique in examining the changing role of the reference collection within learning commons spaces.

scholarly journals Digital Transformation: Challenges for Human Resources Management

2021 ◽  
Vol 7 (1) ◽  
pp. 365-375
Author(s):  
Anton Florijan Barišić ◽  
Joanna Rybacka Barišić ◽  
Ivan Miloloža
Keyword(s):  
Human Resources ◽  
Organizational Performance ◽  
Performance Management ◽  
Employee Engagement ◽  
Business Models ◽  
Human Resources Management ◽  
Digital Transformation ◽  
Employee Relations ◽  
Future Research

The global economic situation and need to be better prepared for competitive challenges put pressure on modern companies to shift toward automation and digitalization. As a consequence of rapid technological development and the speed of change and therefore forced transformation of business models and work design, organizations are faced with a need for a massive change of features and an extended role of HR management processes. To be able to drive future organizational performance, HR leaders and professionals are required to make changes in the skills and competencies they have and to acquire and possess new ones. The critical components of a digital transformation strategy that can help achieve a competitive advantage are human capital, intellectual capital, and knowledge. The purpose of this paper is to explore and elaborate on the contemporary position and the changing function of HRM in light of digital transformation. In that sense, a comprehensive analysis of available literature has been conducted addressing the domains of HR planning, reward management, performance management, employee engagement, training and development, health and safety, employee relations, as well as their change under the influence of digital transformation. As the main conclusion of this research, it can be stated that although digitalization, i.e., digital transformation, strongly affects HR practices and procedures specifically by using human resources information systems, the role of HR in contributing to the digitization strategy is not sufficiently emphasized. However, it can be argued that the results of this research represent a valuable contribution to future research and can certainly be an important benchmark for organizations when preparing strategies to respond to the challenges of the digital age. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

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