Brand Wonder

Affect is a core construct in the understanding of how consumers respond to marketing stimuli, such as brands, products, and communications, and is critical in the achievement of marketing outcomes (Erevelles 1998). Despite an extensive body of literature on affect in marketing that exists today, there appears to be an incomprehensible gap in the literature on the study of one type of emotion. This emotion has been described as “humanity’s most important emotion,” and the “one emotion (that) inspired our greatest achievements in science, art, and religion” (c.f., Prinz 2013, p1). That emotion is wonder. Adam Smith, often known as the father of capitalism, describes wonder as arising “when something quite new and singular is presented … (and) memory cannot, from all its stores, cast up any image that nearly resembles this strange appearance,” resulting in “suspension of the breath” and “swelling of the heart.” (c.f., Prinz 2013, p1). The motivation of this paper lies in the need to fill the aforementioned gap, by better understanding wonder, and how it could transform branding in the future. The value proposition for wonder in branding appears to be clear: greater sensory engagement, associated with awe, astonishment, reverence and surrealism. Our research goals are therefore to provide a theoretical framework that includes an understanding of the construct of wonder, foundational premises associated with this new paradigm, and to demonstrate how wonder can be exploited in branding. The core of this research lies in the development of (i) a theoretical framework for research on wonder in branding and (ii) key foundational premises (FPs) for the evolving wonder paradigm in branding. Using an indigenous theory development, inductive realist approach, seven foundational premises related to brand wonder and (i) awe, (ii) astonishment, (iii) lack of comprehension, (iv) transcendence, (v) bewilderment, (vi) surrealism, and (vii) reverence are developed. This research makes multiple unique research contributions to the literature. First, we introduce a theoretical framework for the construct of wonder in branding. Second, we develop a set of foundational premises that may serve as theoretical underpinnings to help researchers better identify research problems and develop solutions in the future. Third, we examine experiences with brand wonder to demonstrate the power and usefulness of brand wonder in areas such as brand inhibition (Erevelles and Horton 1998), co-branding (Erevelles et al. 2008), personal selling (Erevelles and Fukawa 2013), etc. This research is likely the first to introduce a theoretical framework for brand wonder. Without a doubt, considerable future research is needed to gain a better understanding of the topic. It may be reasonable to conclude, however, that our research serves as an important first step in the study of this important construct

Blockchain and the Transformation of Branding

Blockchain and the Transformation of Branding Sunil Erevelles University of North Carolina at Charlotte Brian Whelan University of North Carolina at Charlotte Padma Bulusu University of North Carolina at Charlotte ABSTRACT Consumer trust in brands has reached critically low levels. While Big Data has allowed marketers to gain a rich and precise understanding of their consumers (Erevelles, Fukawa and Swayne 2016), the careless and sometimes improper use of Big Data in behavioral futures markets has resulted in a decline of trust in brands of organizations that have violated consumer trust. Driven by a trust crisis in consumer relationships with institutions that have failed to responsibly use and adequately safeguard their brands and brand-related consumer data, blockchain technology is emerging as a key solution for the restoration of trust as well as authenticity, security and transparency in brand management. Despite the potential impact of blockchain in marketing thought and practice, relatively little research on blockchain currently exists in the marketing or branding literature. To fill this gap, the authors present a theoretical framework for blockchain and branding grounded in game theory, new institutional economics, and cryptographic science. They then examine the evolving blockchain-centric logic and the resultant paradigm shift for academics and practitioners involved in brand management. Key foundational premises and directions for future research are suggested. More specifically, blockchain represents a fundamental paradigm shift from the one associated with Big Data. While the World Wide Web was designed for the sharing of information, blockchain is designed for the sharing of value, such as brand assets. Trust is an essential foundational element in the relationship, and the resulting affective bonds (Erevelles 1998), between a brand and its consumers. Blockchain can help brand managers create, protect and rebuild trust. It replaces subjective, centralized trust in brands with objective, distributed trust in technology that ensures brand integrity. Further, blockchain ensures brand authenticity by allowing for consensus-driven validation of brand assets, thus enhancing brand strength, while minimizing counterfeiting. Blockchain also cryptographically protects consumer data, thus enhancing security and privacy for a brand’s customers. Blockchain enhances disintermediation, thus minimizing distortion of a brand’s value proposition and subjective messaging by intermediaries. The authors first develop a series of foundational premises that form the basis for a theoretical framework and then provide blockchain-based managerial implications that can be used in branding strategies, such as co-branding (Erevelles et al 2008), brand extensions, etc. Finally, the authors explore the limitations and future potential of blockchain in branding. REFERENCES Erevelles, Sunil (1998), The Role of Affect in Marketing, Journal of Business Research, 42 (3), 199-216. Erevelles, Sunil, Nobuyuki Fukawa, and Linda Swayne (2016), “Big Data Consumer Analytics and the Transformation of Marketing,” Journal of Business Research, 69 (2), 897–904. Erevelles, Sunil, Thomas H. Stevenson, Shuba Srinivasan and Nobuyuki Fukawa (2008), “An Analysis of B2B Ingredient Co-Branding Relationships,” Industrial Marketing Management, 37, 940-952. ABOUT THE AUTHORS Sunil Erevelles received his PhD in Marketing from The Ohio State University. He is an Associate Professor of Marketing at the University of North Carolina at Charlotte, and served as the Chair of the Department of Marketing from 2010-2018. His research interests include Big Data, blockchain, innovation and branding. Brian Whelan is a lecturer and doctoral student at the University of North Carolina at Charlotte. Prior to that, he held senior marketing positions at some of the world’s largest financial services companies, including Morgan Stanley, Blackrock and Barings. His research interests include blockchain, branding and consumer behavior. Padma Bulusu is a Vice President at Wells Fargo’s Enterprise Data Technology Division. She is currently pursuing an MBA, with a quantitative methods concentration at the University of North Carolina at Charlotte and holds a bachelor’s degree in computer science from SUNY, Albany. Her research interests include blockchain, computational innovation and branding. Key words: blockchain, branding, trust, Big Data, game theory, institutional economic

The Patient-Centric Blockchain

A revolution is brewing in the healthcare marketplace. In the early nineties, the World Wide Web initiated a new era for the use of the Internet in the consumption of healthcare services. This eventually led to the Big Data movement (Erevelles et al. 2016), which initiated a non-linear transformation in healthcare analytics and developed into a dominant paradigm in the healthcare marketplace. However, the World Wide Web architecture was never designed to support a marketplace in healthcare or, for that matter, a marketplace of any other kind. It was primarily designed for the sharing of information and was even referred to as the “information superhighway” in its early days. Despite this, over the years, the World Wide Web has evolved into a foundation (Erevelles et al. 2003) for the healthcare marketplace, widely utilized by the healthcare community. This has resulted in major breakdowns in patient trust, security, and privacy, among other problems, which additionally, have contributed to already sharply rising healthcare costs. For the first time, with the emergence of the blockchain, the healthcare community may finally have a platform specifically designed for the sharing of value (Erevelles et al. 2022). Healthcare is critical for almost everyone and faces potentially catastrophic crises. Blockchain’s value proposition is strong and distinct: greater trust, security, privacy, authenticity, and disintermediation in the healthcare marketplace. Yet, despite its potential impact, relatively little academic thought has been given to consumer-focused solutions in the healthcare marketplace. To fill this gap, the authors propose a game-theoretic framework for a patient-centric blockchain, and present an initial theoretical framework, with key foundational premises and propositions, that may help in the evolution of a blockchain-centric healthcare marketplace. This research makes multiple unique research contributions to the literature involving blockchain and healthcare consumption. First, we propose a framework for a patient-centric healthcare blockchain and present a theoretical foundation for healthcare consumption using blockchain technology. Second, we develop a set of propositions based on blockchain-centric logic that could provide theoretical guidelines that could help researchers identify potential research problems and develop solutions for these problems in the future. Third, we propose a hybrid blockchain-based healthcare framework as an initial practical step for the implementation of healthcare blockchains in the shorter term. This research is likely the first to develop a theoretical framework for blockchain-centric logic in a healthcare setting, as well as to identify related technological, behavioral, and managerial issues in the processes involved. Without a doubt, considerable further research is needed to better explore various important theoretical and behavioral questions that may arise. It would be reasonable to conclude, however, that this research provides a crucial first step for the further development of a critical technology that is expected to radically transform healthcare marketplaces and patient behavior in the future

The Role of Affect in Personal Selling and Sales Management

The term affect is generally used to refer to a set of internal feeling states, and includes mood and emotion. This paper provides an assessment of the current state of knowledge on affect and other related constructs as they relate to personal selling and sales management. The authors review and reflect on the theoretical frameworks commonly used in the study of affect in the sales literature. The managerial issues related with affect in sales contexts are also highlighted. The authors conclude with an identification of critical gaps that exist in the sales literature and suggest several directions for future research

Perceived Reasonableness and Morals in Service Encounters

Companies have a moral responsibility to treat customers fairly. One way for companies to do so is to allow their employees to exercise reasonableness in their interactions with customers. We define reasonableness as a latitude or space that exists around expectations in the delivery of service. In this paper, we explore the concept of reasonableness from a customer\u27s perspective (i.e., perceived reasonableness) and the role that the morals of service personnel play in customers\u27 perceptions of reasonableness. First, through an open-ended survey on customers\u27 unreasonable service experiences, we identify themes of perceived reasonableness. We also discuss the role that the morals of service personnel play within these themes. Second, in order to identify the relationships between these themes, we create a cognitive map and discuss the implications of the identified relationships. Finally, we provide directions for future research on reasonableness

Dynamic Capability and Open-Source Strategy in the Age of Digital Transformation

Today, Industry 4.0 technologies, such as Big Data analytics and mobile technologies, are forcing firms to seek new ways to create and deliver customer value. We argue that the Android project, one of the most successful open-source digital platforms, reflects a new business model in the age of digital transformation. In the Android community, application developers create and sell applications for the Android operating system provided by the open-source firm (Google), and share the profit with Google. Such an open-source strategy forces the open-source firm to give up the profits from selling the operating system to customers. A firm generally chooses an open-source strategy to increase its user network size. Using the concept of creative intensity, or the speed of idea generation, we offer a new explanation regarding the benefits of an open-source strategy in the age of digital transformation. We investigate how to enhance creative intensity and profit on the open-source digital platform. Our model suggests that an open-source strategy effectively manages the diminishing value of ideas and, thus, facilitates the dynamic capability of an open-source firm