Salesperson Behaviour and Buyer-Seller Relationship Characteristics: An Analysis of Its Impact On Buyer Loyalty in the Malaysian Pharmaceutical Industry

Today, perhaps more rapidly than any other time in recent history, the business-to business competitive environment is changing (Liu and Leach, 2001). While the preceding statement particularly refers to a business-to-business context, it is not too far-fetched to argue that this observation rings true for other business environments. Driven by concerns over efficiency and effectiveness, many buyers of large firms are reducing the number of suppliers1 they conduct business with and creating more intense relationships with their chosen firms (Geyskens et al., 1998; Napolitano, 1997; Sengupta et al., 1997; Sharma, 1997). These initiatives are mutually reciprocated by suppliers’ proactive role in the development of marketing relationships. In fact, relationship marketing (RM) has been touted as one of the key developments of modern marketing science (Hennig-Thurau, 2000). Such developments are not surprising since studies have shown both suppliers and customers gain the benefits. According to Gummesson (1999), the customer-supplier2 relationship forms the classic dyad of marketing and the relationship forms the parent relationship of marketing. Studies have shown that interpersonal activities at the customer-contact point enable delivery of value-added processes (Humphreys and Williams, 1996). In many industries, salespersons may be the only interface between firms and their customers or prospects, since selling activities are primarily implemented by salespersons. A more recent view of a salesperson by Wotruba (1991) holds that the objective of the salesperson is to build or maintain long-term relationships, and the salesperson is expected to be oriented towards long-term customer needs. Indeed, evidence indicates that salespeople play a central role in the evolution of quality business relationship (Dwyer et al., 1987; Hawes et al., 1989; Crosby et al., 1990). According to Boles et al. (2000), this role orientation is consistent to what is termed relationship selling (RS) behaviours, adding that this role is distinct from the traditional sales process activities such as handling objections and closing since it focuses on the development of dyadic personal relationships between the salesperson and buyer that are mutually beneficial. This leads to the contention that relational characteristics of the buyer-seller relationship and the orientation of the salesperson manifested in the behavioural characteristics of the salespeople will significantly influence the direction and outcomes of a customer-salesperson relationship. In recent years, the term RM has gained prominence in the realm of marketing. Grönroos (1994, 1996) stated that both industrial and modern services marketing approaches clearly view marketing as an interactive process in a social context where relation building and management are vital cornerstones. According to him, RM is ‘to identify and establish, maintain, and enhance relationships with customers and other stakeholders, at a profit, so that the objectives of the parties involved are met. This is done by a mutual exchange and fulfilment of promises’. In a similar vein, Weitz and Bradford (1999) stated that RM could be applied to a number of marketing activities ranging from consumer frequency marketing programs to selling activities directed toward building partnership with key business-to-business customers. In short, RM can be viewed as development of long-term relationship between customers and sellers through sales and marketing activities that focuses on mutual exchanges and promises. The prominence of RM is also evident to the extent that many notable researchers and authors have generally accepted it as representing a paradigm shift in marketing (Kotler, 1990; Parvatiyar et al., 1992; Grönroos, 1994; Morgan and Hunt, 1994; Sheth and Parvatiyar, 1994; Parvatiyar and Sheth, 1997; Gummesson, 1999). Consequently, the study and definition of marketing as an exchange has been expanded to emphasise the relational aspects of buyer-seller interactions with focus on long-term customer satisfaction and value-added selling through the implementation of customer-oriented strategies (Williams, 1998). Given that salesperson behaviours and buyer-seller relationship characteristics significantly influence the outcomes of a customer-salesperson relationship, they are strongly emphasised from a RM perspective. As such, these dimensions have been the subjects of extensive empirical research and literature reviews. In examining the buyer-seller relationship further, Crosby et al. (1990) found that RS behaviours that refer to activities and behaviours that lead to customer relationships are positively linked to sales performance and lower customer turnover. Other outcomes of the RM efforts such as trust and satisfaction have been positively associated with the characteristics of the customer-seller relationships or the salesperson behaviour (Crosby et al., 1990; Doney and Cannon, 1997; Foster and Cadogan, 2000). These characteristics have also been either directly or indirectly (through trust, satisfaction, and salesperson loyalty) linked to customer loyalty behaviours (Crosby et al., 1990; Doney and Cannon, 1997; Foster and Cadogan, 2000; Liu and Leach, 2001). Similarly, the extent of relational contact characterised by frequency of contact and duration of the relationship will influence trust and satisfaction (Lagace et al., 1991). These dimensions are further elaborated in Chapters II and III. In summary, empirical evidence drawn from literature shows that relational selling behavioural characteristics, the characteristics of the buyer-seller interaction itself and the extent of relational contact are major determinants of relationship outcomes. From a commercial perspective, it is indeed crucial to establish and maintain long-term mutually beneficial and successful relationships especially since many buyers of large firms are reducing the number of suppliers they conduct business with and creating more intense relationships with their chosen firms

Predictability of bitcoin returns

This paper comprehensively examines the performance of a host of popular variables to predict Bitcoin returns. We show that time-series momentum, economic policy uncertainty, and financial uncertainty outperform other predictors in all in-sample, out-of-sample, and asset allocation tests. Bitcoin returns have no exposure to common stock and bond market factors but rather are affected by Bitcoin-specific and external uncertainty factors

Predictability of bitcoin returns

This paper comprehensively examines the performance of a host of popular variables to predict Bitcoin returns. We show that time-series momentum, economic policy uncertainty, and financial uncertainty outperform other predictors in all in-sample, out-of-sample, and asset allocation tests. Bitcoin returns have no exposure to common stock and bond market factors but rather are affected by Bitcoin-specific and external uncertainty factors

The public as a definitive stakeholder of corporate environmental sustainability practices: A cross-national institutional approach

An emerging body of literature connects the well-known Varieties of Capitalism framework (and its variants) with the propensity of nations to move away from hydrocarbons. Our study extends this work by exploring how macro-level institutional configurations matter for public expectations towards corporate environmental sustainability practices. By linking survey data of public-as-stakeholders to institutional systems encompassing 16 countries (N = 7156), we use multi-level modelling to test the explanatory power of a theoretically well-refined recent construct, namely, the Varieties of Institutional Systems — and discover significant variations associated with public expectations across different institutional systems. The findings, however, defy the notion of a clear distinction between mature and emerging markets or that mature institutional systems consistently hold firms to higher environmental standards. Rather surprisingly and counter-intuitively, we find that public-as-stakeholders from State-Led institutional systems had the highest expectations towards corporate environmental sustainability practices. We outline some of the major theoretical and policy implications of our research findings

Expression of Notch-1 receptor and its ligands Jagged-1 and Delta-1 in amoeboid microglia in postnatal rat brain and murine BV-2 cells.

Notch-1 receptor signaling pathway is involved in neuronal and glial differentiation. Its involvement in microglial functions, however, has remained elusive. This study reports the localization of Notch-1 receptor immunoreactivity in the amoeboid microglial cells (AMC) in the postnatal rat brain. By immunofluorescence, Notch-1 receptor was colocalized with its ligands, Jagged-1 and Delta-1, in the AMC in the corpus callosum and subventricular zone. Notch-1 immunopositive cells were confirmed to be microglia labeled by OX42 and lectin. Immunoexpression of Notch-1 receptor was progressively reduced with age. Western blot analysis showed that Notch-1 protein level in the corpus callosum in which the AMC were heavily populated was concomitantly decreased. In postnatal rats challenged with lipopolysaccharide (LPS), Notch-1 receptor immunofluorescence in AMC was noticeably enhanced. Furthermore, Notch-1 protein level in the corpus callosum was increased as revealed by Western blotting analysis. In primary microglial culture treated with LPS, mRNA expression of Notch-1 and its ligand Jagged-1 was upregulated but that of Delta-1 was reduced. The expression pattern of Notch-1 and its ligands was confirmed in murine BV-2 cells. Furthermore, Notch-1 neutralization with its antibody reduced its protein expression. More importantly, neutralization of Notch-1 concomitantly suppressed the mRNA expression of IL-6, IL-1, M-CSF, and iNOS; TNF-α, mRNA expression, however, was enhanced. Western blot confirmed the changes of protein level of the above except for IL-6, which remained relatively unaltered. It is concluded that Notch-1 signaling in the AMC and LPS-activated microglia/BV-2 cells modulates the expression of proinflammatory cytokines and nitric oxide

Mapping quantitative trait loci (QTLs) for fatty acid composition in an interspecific cross of oil palm

Background: Marker Assisted Selection (MAS) is well suited to a perennial crop like oil palm, in which the economic products are not produced until several years after planting. The use of DNA markers for selection in such crops can greatly reduce the number of breeding cycles needed. With the use of DNA markers, informed decisions can be made at the nursery stage, regarding which individuals should be retained as breeding stock, which are satisfactory for agricultural production, and which should be culled. The trait associated with oil quality, measured in terms of its fatty acid composition, is an important agronomic trait that can eventually be tracked using molecular markers. This will speed up the production of new and improved oil palm planting materials. Results: A map was constructed using AFLP, RFLP and SSR markers for an interspecific cross involving a Colombian Elaeis oleifera (UP1026) and a Nigerian E. guinneensis (T128). A framework map was generated for the male parent, T128, using Joinmap ver. 4.0. In the paternal (E. guineensis) map, 252 markers (199 AFLP, 38 RFLP and 15 SSR) could be ordered in 21 linkage groups (1815 cM). Interval mapping and multiple-QTL model (MQM) mapping (also known as composite interval mapping, CIM) were used to detect quantitative trait loci (QTLs) controlling oil quality (measured in terms of iodine value and fatty acid composition). At a 5% genome-wide significance threshold level, QTLs associated with iodine value (IV), myristic acid (C14:0), palmitic acid (C16:0), palmitoleic acid (C16:1), stearic acid (C18:0), oleic acid (C18:1) and linoleic acid (C18:2) content were detected. One genomic region on Group 1 appears to be influencing IV, C14:0, C16:0, C18:0 and C18:1 content. Significant QTL for C14:0, C16:1, C18:0 and C18:1 content was detected around the same locus on Group 15, thus revealing another major locus influencing fatty acid composition in oil palm. Additional QTL for C18:0 was detected on Group 3. A minor QTL for C18:2 was detected on Group 2. Conclusion: This study describes the first successful detection of QTLs for fatty acid composition in oil palm. These QTLs constitute useful tools for application in breeding programmes

The effect of Isoprenyl Ether polymer molecular structure on cementitious composites

In order to minimize the rapid flow loss issue from the hot weather or during lengthy periods and long-distance transport, the synthesis of the isoprenyl oxy polyethylene ether (T-PEG) was introduced. However, there were scarce amount of reported literature on the influence of main and side chain densities on the fresh and hardened properties of concrete containing T-PEG polymers. This study was conducted to investigate fresh and mechanical properties of cementitious composites containing T-PEG polymers with different main and side chain densities. These T-PEG polymers were comprised of the density ratio of side chain to main chain of 1:1, 1:1.5, 1:2, 1:2.5 and 1:3.5, respectively. The laboratory tests conducted were marsh cone funnel test, standard consistency, flow retention, flexural strength and compressive strength test. The results obtained showed that the increased density ratio of side chain to main chain of T-PEG improves the fluidity of the cement paste and the flow retention ability of the cement mortar. Consequently, the mortar with T2 polymer proved a better performance on mechanical strength tests. In conclusion, the increasing main to side chain densities ratio of T-PEG polymer imposes a significant influence on the fresh and hardened properties of the concrete material produced

Lgr5 and Col22a1 mark progenitor cells in the lineage toward juvenile articular chondrocytes

The synovial joint forms from a pool of progenitor cells in the future region of the joint, the interzone. Expression of Gdf5 and Wnt9a has been used to mark the earliest cellular processes in the formation of the interzone and the progenitor cells. However, lineage specification and progression toward the different tissues of the joint are not well understood. Here, by lineage-tracing studies we identify a population of Lgr5+ interzone cells that contribute to the formation of cruciate ligaments, synovial membrane, and articular chondrocytes of the joint. This finding is supported by single-cell transcriptome analyses. We show that Col22a1, a marker of early articular chondrocytes, is co-expressed with Lgr5+ cells prior to cavitation as an important lineage marker specifying the progression toward articular chondrocytes. Lgr5+ cells contribute to the repair of a joint defect with the re-establishment of a Col22a1-expressing superficial layer

A Riemann solver at a junction compatible with a homogenization limit

We consider a junction regulated by a traffic lights, with n incoming roads and only one outgoing road. On each road the Phase Transition traffic model, proposed in [6], describes the evolution of car traffic. Such model is an extension of the classic Lighthill-Whitham-Richards one, obtained by assuming that different drivers may have different maximal speed. By sending to infinity the number of cycles of the traffic lights, we obtain a justification of the Riemann solver introduced in [9] and in particular of the rule for determining the maximal speed in the outgoing road.Comment: 19 page

Tracking Cyber Adversaries with Adaptive Indicators of Compromise

A forensics investigation after a breach often uncovers network and host indicators of compromise (IOCs) that can be deployed to sensors to allow early detection of the adversary in the future. Over time, the adversary will change tactics, techniques, and procedures (TTPs), which will also change the data generated. If the IOCs are not kept up-to-date with the adversary's new TTPs, the adversary will no longer be detected once all of the IOCs become invalid. Tracking the Known (TTK) is the problem of keeping IOCs, in this case regular expressions (regexes), up-to-date with a dynamic adversary. Our framework solves the TTK problem in an automated, cyclic fashion to bracket a previously discovered adversary. This tracking is accomplished through a data-driven approach of self-adapting a given model based on its own detection capabilities. In our initial experiments, we found that the true positive rate (TPR) of the adaptive solution degrades much less significantly over time than the naive solution, suggesting that self-updating the model allows the continued detection of positives (i.e., adversaries). The cost for this performance is in the false positive rate (FPR), which increases over time for the adaptive solution, but remains constant for the naive solution. However, the difference in overall detection performance, as measured by the area under the curve (AUC), between the two methods is negligible. This result suggests that self-updating the model over time should be done in practice to continue to detect known, evolving adversaries.Comment: This was presented at the 4th Annual Conf. on Computational Science & Computational Intelligence (CSCI'17) held Dec 14-16, 2017 in Las Vegas, Nevada, US