Directions and theory of marketing
Vishwas Jadhav
Yoram et. al(1983) says that In international marketing strategy (IMS) research, there has been a growing emphasis on performance-based results since the 1990s. Initially, the research concentrated mostly on multinational corporations (MNCs) and IMS standardisation for operational integration across worldwide networks. Later, the scope was broadened to cover exporting enterprises, with the majority of study concentrating on advanced economy exporters. This study, on the other hand, focuses on emerging-market exporters aiming for developed markets.
The environmental disparities between their home markets and the competitive developed markets they want to enter present hurdles for emerging-market exporters. Although IMS adaptation appears to be more appropriate for these exporters, research indicates that they frequently lack the requisite direction and knowledge for effective adaptation, resulting in unsatisfactory performance.
Marketing approach
Vishwas Jadhav
Morgan et. al (2019) says that creating and implementing marketing strategies is critical in the world of marketing. Marketers face a variety of marketing strategy issues, including designing organisational structures that permit adjusting to changing consumer and company needs, selecting the ideal set of marketing strategies, and leading executives in the development of customer-centric strategies. Marketing strategy is significant not only in practise, but also in business school instruction, marketing theory, and academic research. While there has been an increase in interest in strategic marketing research, it is unclear how much of this research is really related to marketing strategy, the field’s basic concept. Understanding the activities and information associated with marketing strategy is critical for proving marketing’s relevance as an academic topic. It is also useful for developing theoretical understanding in marketing and highlighting areas that require additional research. Analysing previous research can disclose which ideas were used and which parts of marketing strategy received less attention, allowing for the development of indigenous marketing theories. Examining the employment of various research ways and procedures over time can also provide insights for new approaches and methodologies. Periodic assessments of research in the field of marketing strategy are beneficial for consolidating information and allowing for the cumulative development of knowledge in the field.
NIMBuS – Buyer-Seller negotiations
Vishwas Jadhav
Liu et. al (2022), says that understanding and predicting the results of negotiations has become increasingly vital, urgent, and topical throughout large swaths of the global economy. There has been a greater emphasis on making concessions and introducing a “deal-making” strategy from the commercial realm to other venues, such as bilateral trade agreements, Climate Change negotiations, and Brexit negotiations. The antecedents of securing concessions from the other party and predicting the likely outcomes of contract disputes have drawn considerable attention as the holy grail of negotiations–with interesting case studies drawn from among successful world leaders in negotiations, such as Elizabeth I and Charles de Gaulle–with explanations ranging widely from emotional inconsistency tactics to a belief in bargaining ability grounded in genes.
Marketing strategy
Vishwas Jadhav
Richard Godfrey et. al (2020), says that Shelby Hunt (2018), in a recent special issue of the Journal of Marketing Management, advocated for more attention to be devoted to the sub-discipline of marketing strategy, which inspired us to write this study. Hunt gives a rigorous and methodical analysis of the history of marketing strategy, employing the historical device of Wilkie and Moore’s ‘Four Eras of Marketing Thought’ created in 2003. According to Hunt (2018), 2020 marks the 40th anniversary of the start of Era IV, an era connected with the advancement of marketing orientation strategy, relationship marketing strategy, brand equity strategy, strategic marketing, and R-A theory of competition.
Marketing Strategy for Profit Growth in Multinational Corporations
Vishwas Jadhav
Hannah Soobin Lee et. al (2019) states that multinational businesses (MNCs) must seek to efficiently harness contacts with customers spread across regional boundaries in order to achieve commercial success and sustained growth. This study examines the MNC strategic approach of country-based interaction orientation and marketing strategy implementation adaptation/standardization as drivers of global profit growth under the framework of the attention-based view, depending on the environmental conditions of competitive intensity and market dynamism. According to the findings of a survey of MNCs operating in the United States, managerial attention focused on country-based interaction orientation and marketing strategy implementation standardisation have a good effect on MNC profit development when evaluated together. The findings also show that when MNCs standardise their marketing strategy implementation across country markets, the effect of a country-based interaction orientation on MNC profit growth is less susceptible to competitive intensity and market dynamism, but it varies when MNCs take a more adapted approach to their implementation strategies across country markets. These findings have far-reaching consequences for international marketing theory and practise.
Mixture of product placement and Integrated Marketing
Communications Effects on an Informational TV Program
Vishwas Jadhav
David Corkindale et. al (2023), says that since the first television commercial aired in July 1941, marketing executives have relied heavily on television advertisements to promote their companies. adverts interrupting TV enjoyment are increasingly loathed by viewers, as evidenced by up to 80% of adverts being avoided during recorded programmes. One of the benefits of subscription video-on-demand services like Netflix is that there are no commercials during programmes.In these ad-free contexts, and increasingly in commercial TV environments where people avoid advertisements, product placements in subscription programmes provide an alternate means of promoting a brand to a wide television audience.
Influencer Marketing
Vishwas Jadhav
Fine F. Leung et al (2022), says that Influencer marketing initiatives necessitate corporations selecting and incentivizing online influencers to engage their social media followers in an effort to promote the firms’ offerings. However, few research incorporates the costs of influencer marketing when assessing the effectiveness of these efforts, particularly in terms of engagement elasticity. Furthermore, it is unclear whether and how marketers could improve the success of influencer marketing by proactively selecting influencers, targeting their following, or managing content. This study uses a communication model to investigate how elements connected to the message’s sender (influencer), recipient (influencer’s followers), and message itself (influencer’s posts) influence influencer marketing efficacy. According to the research, influencer uniqueness, following number, and sponsor salience increase efficacy, while posts announcing new product releases decrease it. When businesses choose influencers and control content, certain issues arise: Influencer activity, follower-brand fit, and post positivity all have inverted U-shaped moderating effects on influencer marketing efficacy, implying that organisations that take a balanced strategy along these dimensions will be more effective. These innovative findings have significant ramifications for marketers creating influencer marketing strategies.
Scraping Web Data
Vishwas Jadhav
According to Johannes Boegershausen et al., marketing researchers are increasingly embracing web scraping and APIs to retrieve data from the internet. Despite the widespread use of such web data, little attention has been paid to the unique and sometimes pernicious difficulties in obtaining it. How may academics generically and subtly verify data sets gathered through web scraping and APIs? While previous resources focused on the technological aspects of web data extraction, the authors, contrary to popular perception, propose a fresh methodological approach targeted at improving its validity. The approach emphasises how, in order to address validity concerns, distinct technological and legal/ethical issues must be addressed at each of the three stages of collecting online data: identifying data sources, designing data collection, and extracting data, which is quite significant.
Marketing with Quasi-Experiments
Vishwas Jadhav
Avi Goldfarb et. al (2022), says that This article tries to broaden marketing scholars’ and readers’ understanding of quasi-experimental methods by presenting the underlying logic and set of behaviours that make their work convincing. In the absence of experimental variation, the goal of quasi-experimental approaches is to determine the presence of a causal relationship. First, the authors investigate how to identify circumstances and data that can be used to determine if an activity has a causal effect on a marketing outcome. Second, they describe how to construct an empirical method for determining a causal empirical link. The article discusses the use of several methods in marketing to determine how an action influences a result, such as difference-in-differences, regression discontinuity, instrumental variables, propensity score matching, synthetic control, and selection bias correction.
MARKETING CLASSROOM
Vishwas Jadhav
Caitlin Ferreira et. al (2023), says that this article tries to broaden marketing scholars’ and readers’ understanding of quasi-experimental methods by presenting the underlying logic and set of behaviours that make their work convincing. In the absence of experimental variation, the goal of quasi-experimental approaches is to determine the presence of a causal relationship. First, the authors investigate how to identify circumstances and data that can be used to determine if an activity has a causal effect on a marketing outcome. Second, they describe how to construct an empirical method for determining a causal empirical link. The article discusses the use of several methods in marketing to determine how an action influences a result, such as difference-in-differences, regression discontinuity, instrumental variables, propensity score matching, synthetic control, and selection bias correction.
Conclusion – The summaries provided cover a range of topics related to marketing, including international marketing strategy, marketing approaches, buyer-seller negotiations, marketing strategy for multinational corporations, product placement and integrated marketing communications, influencer marketing, web data scraping, quasi-experiments in marketing, and marketing in the classroom. These studies highlight the evolving nature of marketing research and the diverse areas of focus within the field. There is a growing emphasis on performance-based outcomes in international marketing strategy research, with a shift towards studying emerging-market exporters targeting developed markets. Understanding and predicting negotiation outcomes is crucial in various domains, while effective marketing strategies play a central role in driving business success. The use of product placement and integrated marketing communications can offer alternative means of brand promotion, especially in ad-free environments. Influencer marketing effectiveness depends on factors such as influencer uniqueness, follower count, and content management. Web data scraping and the use of APIs are becoming popular methods for retrieving data, necessitating attention to data validity and ethical considerations. Quasi-experimental methods are employed to establish causal relationships in the absence of experimental variation, providing insights into the impact of marketing activities on outcomes. Additionally, there are discussions on marketing education and the use of quasi-experimental methods in the marketing classroom.
These studies contribute to the advancement of marketing knowledge by exploring various aspects of marketing strategy, tactics, data collection, and analysis. They shed light on the challenges and opportunities marketers face in today’s dynamic and competitive business environment.
References –
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