Influence of Technology and Data on Customized Marketing Strategy

Kumar, V.; Ramachandran, Divya

doi:10.4135/9789353287733.n31

Cited by 6 publications

(6 citation statements)

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“…. AI is a branch of computer science dealing with the simulation of intelligent behavior in computers, and the term AI was first stated in 1955 by a math professor John McCarthy (Kumar and Ramachandran, 2018;Rajaraman, 2014). Thus, the adoption of this technology allows firms to apply machines to mimic intelligent human behaviour; this approach is also explicit in performing "cognitive" functions that are associated with the human mind, including problem-solving and learning and prediction (Syam and Sharma, 2018).…”

Section: Moderating Effect Of Adoption Of Artificial Intelligence (Aai)mentioning

confidence: 99%

Does marketing analytics capability boost firms' competitive marketing performance in data-rich business environment?

Rahman

Hossain

Fattah

2021

JEIM

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PurposeFew well-documented studies have explained the importance of researching firms' marketing analytics capability (FMAC). In spite of its significance, there is scant attention to conceptualising and empirically investigating FMAC and its consequences in a data-driven business context. Thus, this study aims to develop and test a conceptual model that relates FMAC and its repercussions in the data-rich business environment.Design/methodology/approachThis study analysed the data from 250 managers amongst large and medium-sized manufacturing and service-intensive firms. Furthermore, this research performed an empirical study by using operationalised questionnaire survey method to verify the hypotheses and reach its theoretical and managerial implications. Structural equation modelling with maximum-likelihood estimation method was applied to verify the validity of the proposed research model.FindingsMultivariate analysis results show that FMAC significantly influences firms' competitive marketing performance (FCMP) with the presence of holistic marketing decision-making (HMDM) as a mediator. Moreover, adoption of artificial intelligence (AAI) enhances the relationship of FMAC-HMDM and FMAC-FCMP linkages.Practical implicationsThis study analyses how FMAC can enhance FCMP and contributes to resource-based views and technological capability theories. From a managerial perspective, guidelines are provided for marketers to adopt advance technologies, such as AI, to optimise FMAC and HMDM to achieve competitive marketing performance.Originality/valueBelieving that “how to be competitive in marketing performance under data-rich-environment”, this research is the first to use the data of a firm manager to facilitate the understanding of FMAC, which provides a new direction for improving marketing performance. In addition, HMDM and AAI are also proposed for firms to optimise FCMP.

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Section: Moderating Effect Of Adoption Of Artificial Intelligence (Aai)mentioning

confidence: 99%

Does marketing analytics capability boost firms' competitive marketing performance in data-rich business environment?

Rahman

Hossain

Fattah

2021

JEIM

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“…Superior analytical methods, which have an ability to learn from past data (including unstructured data), are relevant for marketing when they lead to enhanced intelligence for business practice. Whereas firms traditionally used technology to integrate and analyze data to achieve specific marketing objectives and firm outcomes, recent changes indicate a more central role of technology among firms (Brady, Saren, & Tzokas, 2002;Kumar & Ramachandran, 2019a). Specifically, recent technological advancements such as IoT, big data, AI, and ML have rendered technology and consumer-level data inseparable.…”

Section: Ability To Learn From Past Datamentioning

confidence: 99%

Digital Analytics: Modeling for Insights and New Methods

Gupta

Leszkiewicz

Kumar

et al. 2020

Journal of Interactive Marketing

Self Cite

104

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Firms are increasingly turning towards new-age technologies such as artificial intelligence (AI), the internet of things (IoT), blockchain, and drones, among others, to assist in interacting with their customers. Further, with the prominence of personalization and customer engagement as the go-to customer management strategies, it is essential for firms to understand how to integrate the new-age technologies into their existing practices seamlessly to aid in the generation of actionable insights. Towards this end, this study proposes an organizing framework to understand how firms can use digital analytics, within the changing technology landscape, to generate consumer insights. The proposed framework begins by recognizing the forces that are external to the firm that then leads to the generation of specific capabilities by the firm. Further, the firm capabilities can lead to the generation of insights for decision making that can be datadriven and/or analytics-driven. Finally, the proposed framework identifies the creation of valuebased outcomes for firms and customers, resulting from the insights generated. Additionally, we identify moderators that influence (a) the impact of external forces on the development of firm capabilities, and (b) the creation of insights and subsequent firm outcomes. This study also identifies questions for future research that combines the inclusion of new-age technologies, generation of strategic insights, and the achievement of established firm outcomes.

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“…Owing to abundantly available customer data and lowering data storage costs, firms use technology extensively. With the newly emergent focus on cause-related LPs, we can expect the extensive use of technology to continue, as seen with the use of new-age technologies like artificial intelligence, Internet of things, machine learning and blockchain (Kumar and Ramachandran, 2019). Further, we also expect technology usage to be varied in a cause-related LP.…”

Section: A New Dominant Logic For Loyalty Programsmentioning

confidence: 99%

“…changing consumer preferences creating a pull on firms to address the needs) and the push factors (i.e. firms pushing their offerings to satisfy identified and potential future consumer needs) propelling the market (Kumar and Ramachandran, 2019). In response to the push–pull interplay, customer-centric firms balance their reactive and proactive approaches in business operations.…”

Section: Global Implicationsmentioning

confidence: 99%

Global implications of cause-related loyalty marketing

Kumar

2019

IMR

Self Cite

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PurposeLoyalty programs (LPs) worldwide are maturing even as such programs are growing at a sluggish pace and losing appeal among consumers. This creates a need (and a potential opportunity) for firms to redesign their LPs that better resonates with their customers. The purpose of this paper is to identify that reorienting LPs to focus on societal and environmental causes, in addition to economic causes, can revive the growth of LPs.Design/methodology/approachThis study uses a triangulation approach to integrate knowledge from past research, managerial insights and the popular press that is used in two ways. First, this study identifies a dominant logic in the evolution of LPs toward a focus on societal and environmental causes. Second, based on this evolving logic, this study advances a framework to design cause-related LPs that is an integration of a firm’s economic, societal and environmental imperatives.FindingsThe proposed framework submits that designing a LP consisting of tangible and intangible characteristics will lead to the increased adoption of LPs by the focal industry firms, and the increased acceptance of LPs by customers across all focal industry firms, while moderated by the competitive pressure faced by firms, and the prevailing regulatory framework. Further, the adoption and acceptance of LPs by firms and customers, respectively, will lead to the realization of established LP outcomes, while moderated by the intensity of customer usage.Research limitations/implicationsBased on the proposed framework, this study identifies important implications for customers, firms, society and the environment worldwide in redesigning their LPs.Originality/valueBy integrating various sources of knowledge (academia, business and press) from multiple domains (e.g. marketing, sociology, environmental studies and finance), this study presents an integrative framework that presents a holistic approach in redesigning LPs.

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Influence of Technology and Data on Customized Marketing Strategy

Cited by 6 publications

References 0 publications

Does marketing analytics capability boost firms' competitive marketing performance in data-rich business environment?

Does marketing analytics capability boost firms' competitive marketing performance in data-rich business environment?

Digital Analytics: Modeling for Insights and New Methods

Global implications of cause-related loyalty marketing

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