The Cultural Knowledge Perspective: Insights on Resource Creation for Marketing Theory, Practice, and Education

Marketing researchers and marketers have long focused on the importance of resources: organizations having enough raw materials, advertising budget, distribution and supply facilities, data, technology, money, connections, time, or employees. However, these only become valuable to the organization when people identify them as potential resources and then use them adeptly. In this conceptual paper, we argue that understanding the process of identifying and creating resources is essential to understanding organizational success. We introduce the Cultural Knowledge Perspective. The perspective refocuses attention on the process by which people use and extend their cultural knowledge to identify latent materials, materials that have resource potential, and the process by which cultural knowledge is used to activate latent materials to create actual resources. We bring together and build on disparate research in marketing, sociology, and management to show the importance of understanding how the cultural knowledge of marketers and consumers is deployed for resource creation. In doing so, we show how this perspective opens avenues for hiring marketing talent, product development, marketing communications, and marketing education.

An Experimental Investigation of the Impact of Different Advertising Formats on Children’s Attitudes’ Towards Sports Brands

The study aims to investigate children’s attitude towards different advertising formats including TV ads, in-movie product placement and in-game advertisements, using a web-based between subjects’ experimental design among a sample of Egyptian children aged between 6 to 13 years. Children’s attitude development by advertising efforts is considered under investigated in literature particularly in Arab cultures and as they are considered as powerful influencers to parents’ purchase decisions, the study contributes to a better understanding of children’s attitudes that will guide mangers in making wiser advertising budget allocation. The results showed that there is a significant different impact of the investigated advertising formats on children’s attitude towards sports brands with higher cognitive, affective and behavioral responses resulted from the exposure to traditional video advertising compared to in- movie product placement and in-game advertisements.

Impact of YouTube Advertising on Sales with Regression Analysis and Statistical Modeling: Usefulness of Online Media in Business

Computer technology plays a prominent role in almost every aspect of daily life including education, health care, online shopping, advertising, and even in homes. Computers help to make daily tasks much easier and convenient. Among social media, YouTube is a well-known social sharing networking service. As more and more people join social media and become everyday users, brands have also increased their online engagement. However, it is still unclear how to effectively measure value and return on advertising using social media. As of 2021, more than 31 million YouTube channels around the globe have been opened. In this paper, we consider YouTube advertising to check its effectiveness and benefits gained. Certain statistical tools are adopted to measure the extent of advertising benefits and their correlation in creating effective advertising campaigns on YouTube. Simple linear regression analysis is performed on the data representing the YouTube advertising budget of a company and the sales data of that company. Furthermore, we develop a new statistical distribution to provide the best description of the YouTube advertising data. The result of this research shows that YouTube is an effective medium for advertising and has a strong relationship with sales.

Impact of Facebook and Newspaper Advertising on Sales: A Comparative Study of Online and Print Media

Marketing means the strategies and tactics an organization undertakes for attracting consumers to promote the buying or selling of a product or service. Active marketing is about receiving messages from potential buyers to create ways to influence their purchasing decisions. Advertising is one of the most prominent marketing strategies to promote products to consumers. It is well known that advertisement has a significant impact on the sale of certain goods or services. In this paper, we consider two mediums of advertisement, such as Facebook (which is an online medium) and Newspaper (which is a printed medium). We consider a dataset representing the advertising budget (in hundreds of US dollars) of an electronic company and the sales of that company. We apply the quantitative research approach, and the data which are used in this research are secondary data. For analysis purposes, we consider a statistical tool called simple linear regression modeling. To check the significance of the advertising on sale, definite statistical tests are applied. Based on the findings of this research, it is observed that advertising has a significant impact on sales. It is also showed that spending money on advertising through Facebook has better sales than newspapers. The finding of this research shows that the use of computer-based technologies and online mediums has a brighter future for advertising. Furthermore, a new statistical model is introduced using the Z family approach. The proposed model is very interesting and possesses heavy-tailed properties. Finally, the applicability of the proposed model is illustrated by considering the financial dataset.

An application of approximate dynamic programming in multi-period multi-product advertising budgeting

<p style='text-indent:20px;'>Advertising has always been considered a key part of marketing strategy and played a prominent role in the success or failure of products. This paper investigates a multi-product and multi-period advertising budget allocation, determining the amount of advertising budget for each product through the time horizon. Imperative factors including life cycle stage, <inline-formula><tex-math id="M1">\begin{document}$ BCG $\end{document}</tex-math></inline-formula> matrix class, competitors' reactions, and budget constraints affect the joint chain of decisions for all products to maximize the total profits. To do so, we define a stochastic sequential resource allocation problem and use an approximate dynamic programming (<inline-formula><tex-math id="M2">\begin{document}$ ADP $\end{document}</tex-math></inline-formula>) algorithm to alleviate the huge size of the problem and multi-dimensional uncertainties of the environment. These uncertainties are the reactions of competitors based on the current status of the market and our decisions, as well as the stochastic effectiveness (rewards) of the taken action. We apply an approximate value iteration (<inline-formula><tex-math id="M3">\begin{document}$ AVI $\end{document}</tex-math></inline-formula>) algorithm on a numerical example and compare the results with four different policies to highlight our managerial contributions. In the end, the validity of our proposed approach is assessed against a genetic algorithm. To do so, we simplify the environment by fixing the competitor's reaction and considering a deterministic environment.</p>

An Empirical Research Framework on Digital Marketing Consultancy: The Case of Marcheluzzo Srl

Drawing from the integrated areas of internal consultancy in marketing, advertising budget, and digital marketing, this empirical research aims to examine the company Marcheluzzo`s off-line advertising budget focused on the Brazilian market to combine on-line advertising investments in a new expense budget plan for 2021. A comprehensive analysis of the literature review demonstrates the importance of digital marketing strategies in a B2B - (business-to-business) context within the Brazilian market, covering both their benefits and challenges. The literature review filled and discussed the gaps found, it was also analyzed the past and actual literature within the specific themes in this research. The data used in this research was gathered by a semi-structured one-to-one interview conducted personally with the Marcheluzzo`s marketing and commercial manager. In addition, through the field observation and documents collected in the company more information was possible to gather and have insights about a variety of subjects mainly related to the advertisement budget. It was possible to successfully answer the two main research questions being discussed using the data collected. It was found that Marcheluzzo has been interested in making investments in digital marketing, as well as, there is room for this investment in a new advertisement budget focused on the Brazilian market, combining online and offline marketing strategies. Keywords: Advertising Budget. Digital Marketing. Marketing Consultancy. Resumo A partir das áreas integradas de consultoria interna em marketing, orçamento publicitário e marketing digital, esta pesquisa empírica visa examinar o orçamento publicitário off-line da empresa Marcheluzzo voltado para o mercado brasileiro para combinar investimentos publicitários on-line e off-line em um novo plano orçamentário para 2021. Uma análise abrangente da revisão da literatura demonstra a importância das estratégias de marketing digital em um contexto B2B - (Business-to-Business) no mercado brasileiro, abrangendo seus benefícios e desafios. A revisão bibliográfica preencheu e discutiu as lacunas encontradas, também foi analisada textos já publicados e atuais dentro dos temas específicos desta pesquisa. Os dados utilizados nesta pesquisa foram coletados por meio de entrevista semiestruturada individual realizada pessoalmente com o gerente de marketing e comercial do Marcheluzzo. Além disso, por meio da observação de campo e dos documentos coletados na empresa foi possível reunir mais informações e ter insights sobre uma variedade de assuntos relacionados principalmente ao orçamento publicitário. Foi possível responder com sucesso às duas principais questões de pesquisa em discussão usando os dados coletados. Constatou-se que a empresa Marcheluzzo tem interesse em fazer investimentos em marketing digital no Brasil, bem como, há espaço para esse investimento em um novo orçamento publicitário voltado para o mercado brasileiro, combinando estratégias de marketing online e offline. Palavras-chave: Orçamento Publicitário. Marketing Digital. Consultoria de Marketing

Optimal Advertising Budget Allocation across Markets with Different Goals and Various Constraints

Advertising budget allocation across multiple markets has drawn considerable attention in recent years. To expand previous research and fill a gap in the current literature, this study proposes two decision models for optimal budget allocation decisions across multimarkets with different goals and various constraints. In addition to the market parameters proposed by the Vidale–Wolfe model, the present study incorporates market goals and advertising objectives into budget allocation decisions. Different types of markets are defined in terms of the goal set for market share or profit. Given the characteristics of different markets, two separate decision models are developed. Model I aims to maximize sales volume given a fixed advertising budget, while model II seeks to minimize the advertising budget given a total of targeted sales volume for all the markets. Solutions to the two models are discussed, and a numerical example is provided to demonstrate how to apply the models in making budget allocation decision.