Millennials and repurchasing behaviour: A collectivist emerging market

This study explains how retailers can use the knowledge function of attitudinal theories to understand how millennials in a collectivist emerging market, trade-off between a satisfactory customer service experience versus price when repurchasing a smartphone. 356 useable questionnaires (86% response rate) were collected and analysed using structural equation modelling (SEM), AMOS. Millennials in Vietnam tend to adopt an individualistic approach when repurchasing a smartphone and utilise their knowledge of the product. However, they value personalised customer service that is specific to their needs, especially interactions with sales staff that raises their confidence and self-esteem. The unique interaction allows authorised retailers to distinguish themselves from unauthorised retailers. Repurchase behaviour is encouraged by low uncertainty avoidance in conjunction with price sensitivity; and the desire to be seen as achieving a high social status. The data for the study was collected in Hanoi, the main city of Vietnam and is representative only of urban-based millennials. Retailers considering entering an collectivist emerging market need to understand that millennials are price sensitive and may repurchase from unauthorised retailers. Accurate information and sales promotions can be used to stimulate demand for a high involvement product. Functional theories of attitudes is used to link the concept of customer service with knowledge function utilisation in order to establish how customers in an collectivist emerging market process information and share knowledge through socialisation

How the market driving approach can create brand value through a digital platform.

This paper examines how the value of a brand is enhanced through a learning process that incorporates customer dialogue and results in co-creation and the incorporation of a consumer oriented relationship marketing approach. We adopted the market driving concept and related it to how companies can strengthen their competitive standing by increasing the knowledge transfer capability by utilizing data collected through social media technology (SMT). A qualitative research strategy was deployed involving a critical friendship group and a group interview, and a number of constructs were identified and then grouped according to a number of underlying themes. Our findings, a Digital Stakeholder Communication Platform (DSCP) framework, supports and explains how the concept of market driving enhances a pro-active strategic capability. It highlights the importance of learning and managing a value system that reflects on societal values, and the need for companies to consider how they contribute to societal well being

How organizational learning reinforces interactive communication and sustainable B2B customer centred business relationships

The purpose of this paper is to explain how the process of organizational learning reinforces the relationship marketing approach and fosters the development of knowledge and B2B customer centred relationships. A qualitative research strategy was deployed that incorporated an open ended, structured questionnaire. In total, three Korean companies and 15 senior B2B marketing managers participated in the research. The research findings indicate that senior B2B marketing managers in the participating Korean companies embrace knowledge acquisition and implementation in their marketing decision making, hence they are committed to sharing information and are keen to adopt innovatory processes that result in change. By doing so, they utilize the organizational learning concept to enhance the capability of the organization, ensure that individual learning is placed in the context of institutional learning, develop and implement innovative marketing strategies, and reinforce the strategic marketing planning process through interactive communication in order to achieve value creation

Retailing Strategy and the Importance of Clearly Defined Partnership Arrangements

Retailers operate in a complex and competitive environment, and because of this retail managers need to be aware of the need to seek market opportunities and develop long-term sustainable relationships with partner organizations. In order that a retail organization develops a sustainable competitive advantage, it is essential that a partnership arrangement is viewed as necessary and is based on trust. This means that there is a high degree of transparency and that open communication is encouraged. It also means that various types of information are shared and staff involved in the partnership arrangement are committed to personal development. This is necessary if an organizational cultural value system is to be produced that gives rise to a set of common goals and objectives that translate into a highly motivated workforce. Should this be the case, staff in the partnership arrangement should be able to provide a high level of customer service that results in customer expectations being met. Retail managers and their staff are required to be committed to market intelligence gathering and to think in terms of strategic positioning. The governance mechanism can be used as a blueprint to provide retail staff with direction, and it should ensure that open, mutually beneficial partnership arrangements develop that can be maintained through time

How Business Relational Attributes contribute to marketing strategy development

The study explains how mutually beneficial relationships are developed and how business relational attributes contribute to marketing strategy development. Attention is given to how senior B2B marketing managers in Korean companies create a culture of cooperation within the buyer-seller dyadic relationship. The study adds to the existing relationship marketing body of knowledge and outlines the antecedents of a relationship oriented business culture. More specifically, it explains how a cultural value system gives rise to a set of relational attributes which in turn reinforce the relationship marketing approach and the marketing planning process. A qualitative research strategy was adopted that incorporated an open ended, structured questionnaire. Fifteen senior B2B marketing managers based in three Korean firms participated in the study. Senior B2B marketing managers in Korean companies adopt the ‘market-based’ generative learning approach and place emphasis on marketing intelligence, marketing education and devising and implementing “innovative” marketing strategies. The sharing of information is considered important and occurs within a collectivist decision-making context that gives rise to trust based relationships among partner organizations. The relationships developed are viewed as sustainable and require that individual employees are committed to the concept of mutuality. The paper has a B2B marketing management focus but draws on and is underpinned by management theory. Evidence of this can be found in the linkage between management culture theory and B2B marketing policy

Refining brand strategy: Insights into how the “informed-poseur” legitimizes purchasing counterfeits

In this paper, we examine how brand managers can utilize the knowledge function to devise a brand strategy that reinforces a luxury brand’s reputation and counteracts the actions of counterfeiters. We explain why brand managers need to develop insights into how knowledge is utilized so that they can understand the behaviour of the “informed-poseur”. Attention focuses on how the knowledge function addresses the conflict between the “social” function and the “self-ego” function when consumers consider purchasing counterfeits. We extend existing knowledge by identifying two sub-groups: the “Informed poseur-realistic” and the “informed poseur-neo”, and distinguish between the two sub-groups by making links with their social context. This adds to our knowledge of how millennials think and make purchase related decisions, and how brand managers can develop brand portfolio strategies that highlight the uniqueness of the value proposition and communicate more effectively with the “informed-poseur” group. A small group interview and survey were used to collect data and the findings suggest that when an “informed-poseur” considers purchasing a counterfeit product, they corroborate their actions by utilizing the knowledge function, which takes them through various cognitive and evaluative processes