160 research outputs found
Towards a better understanding of consumer behavior: Marginal Utility as a parameter in Neuromarketing research
Full text linkUnderstanding consumers’ decision-making process is a recurrent goal in Marketing. However, the traditional tools used in marketing, such as surveys, personal interviews and participant observations are often inadequate to analyze and understand human behavior. Since consumer decisions are often influenced by unconscious mental processes, the consequence is that consumers very often do not want to, or do not know how to, explain their choices. For this reason, Neuromarketing research has grown in popularity. Neuromarketing uses neuroscience techniques in order to determine the neurological causes that explain human decisions and behaviors. Identifying these mechanisms is useful to explain consumers’ responses to marketing stimuli
From physical marketing to Web marketing: The Web-Marketing Mix
Full text linkReviews the criticism of the 4P marketing mix framework as the basis of traditional and virtual marketing planning. Argues that the customary marketing management approach, based on the popular marketing mix 4Ps paradigm, is inadequate in the case of virtual marketing. Identifies two main limitations of the marketing mix when applied in online environments namely the role of the Ps in a virtual commercial setting and the lack of any strategic elements in the model. Identifies the critical factors of the Web marketing and argues that the basis for successful e-commerce is the full integration of virtual activities into the company's physical strategy, marketing plan and organisational processes. The 4S elements of the Web marketing mix framework offer the basis for developing and commercialising business to consumer online projects. The model was originally developed for educational purposes and has been tested and refined by means of three case studies
Foundations of Social Media Marketing
Full text linkAbstractThe Social Media have changed the power structures in the marketplace; evidence points to a major power migration taking place and to emergence of a new breed of powerful and sophisticated customer, difficult to influence, persuade and retain The paper outlines the nature, effects and present status of the Social Media, underlying their role as customer empowerment agents. It explains their aptitude and possible roles as part of the corporate Marketing strategy and identifies different ways of engaging them as marketing tools. The paper proposes two possible Social Media marketing strategies: a. The passive approach focusing on utilizing the Social Media domain as source of customer voice and market intelligence. b. The active approach i.e. engaging the Social Media as direct marketing and PR channels, as channels of customer influence, as tools of personalizing products and last but not least develop them as platforms of co-operation and customer-generated innovation. Finally the paper identifies future research directions around this new element of the marketing landscap
Social Media Marketing
Full text linkThe present stage in the evolution of the Internet, commonly called Web 2.0, has revolutionized the way people communicate, interact, and share information and has radically changed the way customers search for and buy products. The increasing adoption of Web 2.0 applications and technologies has led to an explosion of customer-generated content and has opened new opportunities for networking and collaboration among customers. Web 2.0 applications have brought about a new media category, the Social Media, increasingly growing in importance at the cost of traditional media. The Social Media have changed the power structures in the marketplace; evidence points to a major power-migration that is taking place and to the emergence of a new breed of powerful and sophisticated customers, difficult to influence, persuade, and retain. The chapter outlines the nature, effects, and present status of the Social Media, underscoring their role as agents of customer-empowerment. It explains their aptitude and possible roles as part of the corporate marketing strategy and identifies different ways of engaging them as marketing tools. The chapter proposes two possible Social Media marketing strategies. One is a passive approach focusing on utilizing the Social Media domain as source of customer voice and market intelligence. The second is an active approach, engaging the Social Media as direct marketing and PR channels, as channels of customer influence, as tools of personalizing products, and last, but not least, developing them as platforms of co-operation and customer-generated innovation. Finally, the chapter identifies future research directions for this new element of the marketing landscap
Virtual Marketing. New Rules and Challenges in the Networked Marketplace
Full text linkThe thesis emphasizes the fact that while deep-seated and time-honored business laws are always valid, survival and success in the virtual commercial environment requires some distance from the established, customary patterns of management thought and behavior. Proactive managerial attitude is essential considering the exceptional nature of the technologies, actors and environmental conditions defining online commerce
Strategies for surviving the Internet meltdown. The case of two Internet incumbents
Full text linkThis paper reviews a number of theoretical issues dealing with the strategic management process in fast-evolving, uncertain environments and examines the fit between theory and practice by means of two case studies, two successful dot.com incumbents from the first generation of Internet start-ups. Analysis of survival and growth strategies of the two virtual firms reveals interesting similarities in their evolutionary processes and corporate strategic attitudes. In both cases the company management has ensured survival and growth through rigorous organizational transformation based on very intensive, flexible and short-term- rather than long-term-oriented strategic decision making. This approach has helped out both companies not only to escape the Internet fall-out but also to build up strong brands and leading market position. As well as identifying managerial approaches, the case studies show analogies to theoretical approaches on managing the strategic process in evolving and chaotic environments
From strategy to e-strategy: lessons from two success stories
No full textThe article presents the results of research on the strategy of two internet corporations who survived the high-tech meltdown and became major online players and trendsetters in their industries. These two cases highlight the idiosyncracies of the virtual environment as a commercial platform and identify several similarities in the strategic process and managerial attitudes of both corporations
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