scholarly journals Development of Market Orientation for Marketing Strategy Formulation

2017 ◽  
Vol 9 (4) ◽  
pp. 54
Author(s):  
Nagasimha Balakrishna Kanagal
Keyword(s):  
Literature Review ◽  
Marketing Strategy ◽  
Market Orientation ◽  
Value Creation ◽  
Business Environment ◽  
Customer Relationship ◽  
Strategy Formulation ◽  
Market Mechanisms ◽  
Develop Market ◽  
Business Purpose

The formulation of marketing strategy is augmented with the firm making efforts to develop market orientation. Market orientation is the ability of the firm to “orient” its marketing strategy to the requirements of the market and continually re-orient its marketing strategy to the changes that occur in the market and business environment. The paper examines the nature of market orientation through literature review and outlines the meaning of the types of strategic thrusts, with specific focus on introducing a new position of competitive advantage called “market mechanisms.” The paper then postulates aspects of enabling reorientation of marketing strategy to keep up with changes in the market and business environment. The paper then extends the understanding of market orientation in extant literature by outlining the details of accommodating the convergence between the business purpose of firm orientation and the business purpose of value creation that encapsulates the firm-customer relationship or the market. An empirical section on certain “orient” aspects is laid out. Implications for marketing strategists are discussed. 

Customer relationship mining system for effective strategies formulation

2014 ◽  
Vol 114 (5) ◽  
pp. 711-733 ◽  
Author(s):  
H.Y. Lam ◽  
G.T.S. Ho ◽  
C.H. Wu ◽  
K.L. Choy
Keyword(s):  
Marketing Strategy ◽  
Integrated Approach ◽  
Customer Relationship ◽  
Resources Allocation ◽  
Strategy Formulation ◽  
Demand Forecast ◽  
Mining System ◽  
Content Type ◽  
The Neural Network ◽  
Education Industry

Purpose – The purpose of this paper is to propose a customer relationship mining system (CRMS) to analyze the data collected from franchisees and formulates a marketing strategy based on customer demand and behavior. Design/methodology/approach – The system makes use of cloud technology to collect and manage data among the franchisees. An integrated approach of association rule mining and the neural network technique is adopted to investigate customer behavioral patterns and to forecast sales demand, respectively. Findings – The significance and contribution of this paper are demonstrated by adopting the CRMS in the education industry in Hong Kong. The findings led to the identification of student learning intentions such as course preferences, and the forecasting of enrolment demand in terms of demand forecast. It is believed that better resources allocation can be achieved and an increase in customer satisfaction is foreseeable. Research limitations/implications – The proposed CRMS could be applied to various franchising industries for effective marketing strategy formulation. However, since the data in this study are extracted from a specific industry, modifications may be required before the CRMS can be applied to other franchising industries. Originality/value – This study presents a new application to convert data into useful knowledge, and provides useful insights for delivering strategic promotional plans under a franchising business model. Through the pilot study conducted in a franchising education center, the results demonstrate that the proposed CRMS is valuable in providing effective promotion to attract more customers, better preparation in resources allocation and more standardized methods to formulate marketing strategies in the franchising industry.

scholarly journals Consumer Marketing Strategy and E-Commerce in the Last Decade: A Literature Review

2021 ◽  
Vol 16 (7) ◽  
pp. 3003-3024
Author(s):  
Albérico Rosário ◽  
Ricardo Raimundo
Keyword(s):  
Literature Review ◽  
Marketing Strategy ◽  
Information Quality ◽  
New Technologies ◽  
Product Information ◽  
Business Environment ◽  
Online Marketing ◽  
Human Interaction ◽  
Global Business ◽  
Consumer Marketing

E-commerce is deemed as the sale and purchase of goods and services through the internet in exchange for money and data transfer to complete the transactions. E-commerce is at the forefront of transforming marketing strategies, based on new technologies, and facilitates product information and improved decision-making. In this way, marketing strategy increasingly require large amounts of information to better understand client needs, which raises the question of choosing the right marketing strategy to better fit consumer expectations. This literature review aims to shed light on both the recent growth of e-commerce literature and its interplay with consumer marketing strategy. Extant research has examined this change in human interaction due to social network building, mostly through the themes of online marketing and social media marketing, also comprehending issues such as cost efficiency, information quality and trust development towards online shopping. Nevertheless, existing research has not shown in full all the research streams, how they interact with each other and its potential knowledge development. Thus, a literature review on consumer marketing strategy for e-commerce in the last decade is opportune. This paper aims to identify research trends in the field through a Systematic Bibliometric Literature Review (LRSB) of research on marketing strategy for e-commerce. The review includes 66 articles published in the Scopus® database, presenting up-to-date knowledge on the topic. The LRSB results were synthesized across current research subthemes. The following findings are presented: Amidst the current competitive global business environment, companies tend to respond with strategies for e-commerce and online businesses that resort to e-commerce platforms and social networking to better understand consumer needs, facilitate consumer marketing strategy and share innovative information. The originality of the paper relies on its LRSB method, together with extant review of articles that have not been categorized so far.

Using a data-driven marketing strategy on customer relationship management: an empirical case of urban coffee shops in Taiwan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wen-Yu Chiang
Keyword(s):  
Marketing Strategy ◽  
Customer Relationship Management ◽  
Large Scale ◽  
Relationship Management ◽  
Business Environment ◽  
Customer Relationship ◽  
Data Driven ◽  
Research Approach ◽  
Content Type ◽  
Crm System

PurposeNowadays, the agricultural business environment is expended to the whole world. Transaction records in point of sales and customer relationship management (CRM) systems can be large-scale data for long-established global chain businesses. Thus, the purpose of this paper is to using a proposed data mining approach to discover valuable markets/customers of urban coffee shop industry (retailer) in current environment of Taiwan, which can implement the industry's data-driven marketing strategy on a CRM system.Design/methodology/approachIn this research approach, Ward's method, C5.0 decision tree and a proposed model are applied for discovering valuable markets and mining useful customer rules.FindingsThese found markets and discovered rules can be applied on marketing information or CRM system for identifying valuable customers and target markets.Originality/valueIn this study, the CRM system can be the media for the data-driven marketing strategy in environment of Taiwan. The approach of this research can be applied on other businesses for their data-driven marketing strategies as well.

scholarly journals Strategi Pemasaran Produk Indosat M3 di Kota Kediri Berdasarkan Analisis SWOT

2016 ◽  
Vol 3 (02) ◽  
Author(s):  
Ana Komari
Keyword(s):  
Marketing Strategy ◽  
Swot Analysis ◽  
Investment Strategy ◽  
Business Environment ◽  
Data Collection Tool ◽  
Strategy Formulation ◽  
Business World ◽  
Closed Type ◽  
Smart Products ◽  
Fierce Competition

The business world of telecommunications is now a full decade with the changes thatare filled with newcomers in the business world of telecommunications. The changes andupheavals are not just fast, unpredictable and complex, but also contradictory and couldlead to a crisis (Pierce & Robinson, 1994). To respond to these changes companies need tofundamentally rethink their strategy, structure, performance in order to have the ability tocompete in the increasingly fierce competition conditions. The company is required tocontinuously adjust its strategic planning related to the company business environment sothat the chosen strategy is always appropriate.In order to find the appropriate marketing strategy formulation then it is needed efforts toidentify the strengths, weaknesses, opportunities and threats faced by the company. Forthose reasons, this study was held which focused on the determination efforts of themarketing strategy that appropriate with the company condition in the middle ofcompetition. Research conducted in Indosat M3 in particular on its Smart product used aqualitative method by using respondent of employees who have an understanding of themarket conditions that amounted to 15 people. Data collection tool used was a structuredquestionnaire with closed-type questions. The results of this study indicated that thestrategy formulation suggested for Indosat M3 Smart is an investment strategy byemphasizing on distribution and pricing strata such as make empowering potential outlets,cooperate with Bank Mandiri and BCA, as well as the incentives system for the interestingchanneling. Thus, Indosat M3 Smart products can feature their competitive advantage ifcompared to other similar competitors.Keywords: IM3, Telecommunications, Marketing Strategy, SWOT Analysis.

The Importance of Knowledge Transfer to Industry

2016 ◽  
Vol 4 (1) ◽  
pp. 1-6
Author(s):  
Emília Madudová ◽  
Keyword(s):  
Literature Review ◽  
Competitive Advantage ◽  
Divergent Thinking ◽  
Business Environment ◽  
Point Of View ◽  
Creative Industry ◽  
Specific Knowledge ◽  
Creative People ◽  
Industry Needs ◽  
Firm Owners

The paper examines the specific knowledge universities transfer to industry, reflecting to creative industry needs. As results shows, the most asked alumni competences should be tacit knowledge and divergent thinking. Divergent thinking influence the creativity. Creativity is often defined as the ability to develop new and useful ideas, but in deep literature review, we can see few irregularities and different definitions of creativity. The paper also evaluates the importance of creativity from business environment point of view and from the creative industry perspective and creative firm owners. As point of view. Another key finding is, that to educate creative people will be one of the key competitive advantage, because mainly the ability to create and disseminate knowledge is often at the heart of the organization's competitive advantage not only in creative industry, but in transport industry as well.

Customer relationship management and its impact on innovation: A literature review

2021 ◽  
Vol 129 ◽  
pp. 83-87
Author(s):  
Vicente Guerola-Navarro ◽  
Hermenegildo Gil-Gomez ◽  
Raul Oltra-Badenes ◽  
Javier Sendra-García
Keyword(s):  
Literature Review ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationship

Market orientation, innovation commercialization capability and firm performance relationships: the moderating role of supply chain influence

2017 ◽  
Vol 32 (7) ◽  
pp. 913-924 ◽  
Author(s):  
Jeen-Su Lim ◽  
William K. Darley ◽  
David Marion
Keyword(s):  
Supply Chain ◽  
Firm Performance ◽  
Market Orientation ◽  
Innovation Management ◽  
Strategy Formulation ◽  
Content Type ◽  
Positive Effects ◽  
The Impact ◽  
Moderating Role

Purpose The study aims to explore supply chain influence (SCI) on the linkages among market orientation, innovation capabilities and firm performance (FP), using the resource-based view as a theoretical backdrop. Design Survey data from 182 top managers who are involved in strategy formulation and innovative direction of their companies was collected and analyzed using moderated multiple regression analysis. Findings Results revealed a moderating role of the SCI in that the proactive market orientation (PMO) and FP relationship is stronger when SCI is high, and innovation commercialization capability (ICC) and FP relationship is stronger when SCI is low. Practical implications Firms pursuing high PMO strategy must collaborate with supply chain function to achieve the full effect of PMO. Additionally, as supply chain is critical to meeting customers’ needs, these firms should allow supply chain to exert greater influence to enjoy the positive effects of PMO in addition to ensuring full integration into marketing strategy implementation. Also, firms with high ICC need to limit SCI to maximize the benefit of ICC on FP, just as innovation management needs to be cognizant of other functional areas. Originality/value The study investigates the potential moderating role of SCI on the relationships among market orientation, ICC and FP. The study fills a gap in the understanding of the nature and role of supply chain in the marketing–supply chain interaction, and the impact on FP.

Drivers of the experience value of mobile money transfer service: Senegaleseuser perspectives

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ndeye Astou Manel Fall ◽  
Fatou Diop-Sall ◽  
Ingrid Poncin
Keyword(s):  
Value Creation ◽  
Behavioral Intentions ◽  
Individual Characteristics ◽  
Customer Relationship ◽  
Management Policy ◽  
Business Practices ◽  
Service Market ◽  
Content Type ◽  
Mobile Money ◽  
Money Transfer

Purpose Digital service innovations have enabled service market access, transforming Africa. This paper aims to investigate individual and contextual drivers of experience value of mobile money transfer (MMT) service during post-adoption given impacts of individual/cultural characteristics in Senegal. Design/methodology/approach Mixed methods. Study 1 qualitatively investigates the effects of individual-contextual drivers on the experience value of MMT and behavioral intentions. Study 2 quantitatively tests the main causal effects between drivers and MMT. Findings Conceptual models of experience value including ethical and social dimensions proposed in MMT are positively related to behavioral intentions. Need for social interaction (NSI), self-efficacy (SEFF) and social pressure (SP) – sources of experience value creation/destruction – must be integrated into business practices. Results show the indirect positive influence of NSI on behavioral intentions through MMTs experience value. Moreover, traditional cultural orientation (TCO) is a source of value creation/destruction. Managers should build ethical relations with users, integrate social functions in MMT and understand users’ cultural and individual characteristics for better customer relationship management policy. Originality/value Few studies examine how MMT experience creates/destroys value in a Sub-Saharan African context, specifically in Senegal. The authors show that SP might destroy value and reveal how individual variables such as SEFF, NSI and TCO affect experience value creation/destruction. Surprisingly, NSI creates value, revealing MMT as hybrid self-service technology.

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