Purpose The purpose of this paper is to study the influence of factors such as financial literacy on a consumer’s investment decisions, particularly in the stock market. Based on two empirical studies, the theory of planned behaviour (TPB) was used to understand stock market participation (SMP) in India while developing a model to represent the relationships between the various factors. Consumer financial literacy was conceptualised to be a part of perceived behavioural control and included in the TPB. Design/methodology/approach A mixed methods research was followed where qualitative research preceded a quantitative survey-based study. In-depth interviews were conducted with investors and experts, results of which, when combined with the literature review, revealed seven variables including financial literacy which were pooled into three distinct groups based on the TPB. Responses obtained from 506 retail investors from four cities in India were analysed. Structural equation modelling was used to test the models and arrive at a final empirical model. Findings Results of the study indicated that investment intention predicts actual investments in the stock market (which represented behaviour). Financial literacy – both subjective and objective – were also found to be significant influencers on intention while only objective financial literacy seemed to affect behaviour. Three variables – perception of regulator, risk avoidance, and hassle factor – were combined to form a second-order construct which was named “Attitude to Investment Behaviour”. This had a negative impact on intention to invest in the equity markets. Financial well-being seemed to have a negative impact on intention while having a positive relationship with behaviour. Practical implications The results present significant investor behaviour and policy implications for financial services marketing. Some interventions, especially in the area of consumer financial literacy, are more likely than others to help consumers bridge the gap between non-participation and participation in the stock market. Originality/value The study makes a contribution to investor behaviour theory in the form of a comprehensive model to explain SMP in an emerging market. This can be further tested across geographies.

PurposeCustomer engagement (CE) as a domain of research started gaining impetus when it became apparent that it can be a key driver of a firm's performance, competitive advantage and loyalty. The purpose of this study is to develop a deep understanding of the CE construct in marketing literature using bibliometric analysis.Design/methodology/approachIn this study, 940 articles were retrieved from Scopus, the well-known electronic database. Bibliographic coupling and co-occurrence analysis using VOSviewer along with content analysis were employed.FindingsAfter careful content analysis, six clusters were identified through bibliographic coupling: (1) modeling customer engagement, (2) customer engagement theory and empirical validation, (3) customer engagement and service-dominant logic, (4) customer engagement and social media, (5) customer engagement and brand platforms and (6) engagement in other contexts. The outcomes of this study would not only be valuable for scholars working in the CE domain, but could also be useful for practitioners and policymakers who wish to enhance their understanding about CE.Originality/valueOver the past decade, the research on CE construct has exploded owing to the growing interest of both scholars and practitioners in the field. Despite being a popular field of research, there is no published work on a comprehensive bibliometric analysis of the construct in marketing literature. The current study bridges this gap in the existing literature.

PurposeIt is empirically proven that enhanced engagement with a focal medium motivates a consumer to post electronic word-of-mouth (eWOM). However, what has not been explored is whether enhanced exposure to eWOM results in greater consumer brand engagement (CBE). While answering this question, this study also assesses the influence of eWOM and CBE on customer loyalty and satisfaction with the brand. The study has been conducted across two products –a search product and an experience product.Design/methodology/approachA model is developed and hypotheses are proposed using the Elaboration Likelihood Model which are then tested using PLS-SEM. Data was collected from 712 respondents across India.FindingsFindings indicate that eWOM significantly and positively affects CBE in both product categories. CBE significantly and positively influences both satisfaction and loyalty. eWOM is not significantly related to loyalty for both search and experience products. It is, however, found to be significantly and positively associated with satisfaction in case of the experience product, while a non-significant relationship was found for the search product.Research limitations/implicationsThe present study uses the survey method and PLS-SEM as the analysis technique which makes it correlational and confirmatory. The study, therefore, makes no firm claims on establishing causality.Originality/valueThe paper presents an original idea that CBE fully mediates the relationship between eWOM and satisfaction. This study attempts to fulfil a critical gap in the existing literature by establishing that eWOM generated by other users/consumers about a brand has a significant impact on CBE irrespective of the type of the product that is search or experience.

PurposeResearch in customer engagement (CE) has gained momentum in the last decade, thanks to its growing popularity among scholars and practitioners. The Marketing Science Institute (MSI), for instance, has been continually listing CE as part of its Tier I research priorities since 2010. CE scholars have also studied the construct in the international marketing context. Hofstede's characterization of cultures as either individualist or collectivist helped scholars explain the need for different CE strategies across countries, and the domain seems to be evolving ever since. The ever-growing interest of CE scholars in the international market and cross-cultural scenarios requires a comprehensive and scientific review of the literature. Using bibliometric analysis, this study fills this critical gap by mapping the intellectual structure of CE research in the context of international marketing and provides future research directions to scholars in this domain.Design/methodology/approachThe authors have used VOSviewer and Biblioshiny software packages to conduct a bibliometric analysis of 109 articles in the domain.FindingsThe major findings include the most influential countries, journals, articles and authors, the different research streams and their development and the future research directions in the domain. When CE is considered in an international marketing context, four broad themes emerged. The first theme is about differences in customer engagement behaviors across cultures. The second theme is about the development of CE and related constructs. The third theme relates to how brands have used CE and CBE (customer brand engagement) across different international contexts. The fourth theme is all about the conceptual and methodological support for the study of CE.Originality/valueThis study is a novel attempt at providing a comprehensive bibliometric analysis of CE research in the international marketing context, using a combination of VOSviewer and Biblioshiny software packages.

There has been a significant shift in the purchase of media by brands in the last decade. Brands have moved from spending money on the ever-present television and print media to the ubiquitous digital media of today. Consumers, however, are wary of marketing communications from companies and prefer reviews and opinions from friends or other consumers. In the new hyperconnected world, they are online reviews (i.e., electronic word-of-mouth or eWOM). Consequently, it has become imperative for marketers to measure and manage eWOM, and several companies today rely on social media command centres (SMCCs) for this. Companies use SMCCs to unearth fans and reveal influencers. The prevalent thinking is that by actively interacting with these influencers, eWOM can be positively impacted, which, in turn, may enhance the engagement of prospective customers with the brand. The present study proposes a model for the relationship between eWOM and consumer engagement (CE). Additionally, it details a comprehensive classification framework of CE and reveals both the experts’ and consumers’ perspectives in this field by adopting a grounded theory–content analysis approach. The findings suggest that eWOM leads to CE.