International Journal of Business Forecasting and Marketing Intelligence (18 papers in press)
The rise of SMS marketing: Key drivers, acceptance and intention to receive advertising SMS in Pakistan
by Masoodul Hassan, Asghar Iqbal, Maimoona Malik, Zeeshan Iqbal
Abstract: Mobile advertising is flourishing, due to the impressive usage of cellular phones. Pakistan has crossed 133 million cellular subscribers in July 2016. It has captured the advertising discipline in an innovative way. Therefore, this research aimed to portray a parsimonious structure of different factors (entertainment, informativeness, irritation, permission, self-efficacy, subjective norms & attitude) that influences the consumers behavioural intention towards advertising SMS in Pakistan through the theoretical lenses of Theory of Reasoned Action & Theory of Planned Behaviour. Convenient sampling technique was employed for data collection by distributing questionnaires. The researchers utilized PLS-SEM approach to examine the hypothesized relationships with a sample of 305 mobile users. The results disclosed that proposed conceptual framework has a good predictive power (73.2%) in predicting users behavioural intention towards SMS advertisement in Pakistan. Furthermore, this study delivers a richest understanding to the marketing strategy makers for developing an effective marketing strategy.
Keywords: Theory of Reasoned Action; TRA; Theory of Planned Behaviour; TPB; advertising SMS; mobile marketing; mobile users; m-business; behavioural intention; Pakistan.
Studying influencing factors on trust towards online shopping at limkokwing University at Malaysia
by Mahmoud Nassar
Abstract: Research paper is talked about factors that affect on online confidence towards online shopping.Two types of factors are studied first type is technological factors that consists of security, privacy and second type is psychological factors that consists of perceived reputation, past experience. Four hypothesises was assumed to study trust towards online shopping. A survey method was used to collect data from 362 student of Limkokwing University.Reliability was calculated for questionnaire this research . Pearson correlation co-efficient was used to measure correlation between variables. privacy, security, past experience correlation with trust was found which is positive weak, perceived reputation correlation with trust was positive moderate. Results showed that independent variable which represent perceived reputation had moderate correlation with dependent variable which represent trust so it is important to pay attention to this correlation in future studies.
Keywords: privacy;security; past experience; perceived reputation; trust towards online shopping.
EXAMINING THE RELATIONSHIP BETWEEN CORPORATE SOCIAL RESPONSIBILITY AND BUYING PATTERNS OF CONSUMERS: EVIDENCE FROM INDIA
by VIKAS GAUTAM, SOMBALA Ningthoujam
Abstract: A large number of organizations across globe are actively involved in different social responsibility programs aimed at increasing consumer trust in their offerings and benefit the image holistically. This study investigated the impact of corporate social responsibility on purchasing behaviour of consumers. In the current highly competitive business world, corporate social responsibility has gained momentum across various cultures. The study was conducted in Indian context with reference to purchase of mobile handset with focus on aim to purchase and how much they are willing to pay for its explicit social features. We employed discrete choice modelling experiment and likelihood ratio test to achieve study objectives. The empirical findings of the study provided evidences of the positive relationship between corporate social responsibility and Indian consumers behaviour in the purchasing of mobile handsets. The results revealed that the effect of price is higher than both the effects of corporate social responsibility and corporate ability attributes. Sample size comprised of 144 subjects.
Keywords: Corporate social responsibility; corporate ability; Indian consumers; experimental design; willingness to pay.
Role of Electronic Trading in Emerging Stock Markets Performance
by Rashi Mohnot, Rajesh Mohnot, Pushkala Muralidharan
Abstract: The adoption of electronic trading mechanism in the stock markets has seen several positive developments such as minimization of costs, disclosure of information and transaction transparency. E-commerce has the potential to improve the operational efficiency of financial markets and intermediaries alike in the developed part of the world but it still remains inadequately tested in emerging and developing markets. The present study investigates the impact of electronic trading system on emerging countries stock markets performance. Applying the most popular conditional variance model, it was found out that four out of five countries volatility patterns are not found to be time dependent. Only South African stock market returns were found to be time dependent where investors can make some judgment about the future stock price behavior based on the past. This study supports an important market efficiency hypothesis that no one can predict future stock price behavior and make undue profit. Four countries markets (other than South Africa) seem to be efficient markets.
Keywords: Electronic trading; volatility patterns; emerging stock markets;.
Facets of talent retention: role of employee and employer branding as catalysts
by Saraswathy R, Janarthanan Balakrishnan
Abstract: This paper describes and examines a basis for better appreciation of employer branding efforts to attract and retain talent in IT industry. The purpose of the study is to highlight the prominence of employer branding exercise and its relationship with talent acquisition and talent retention in the IT industry. This is a descriptive research based on the survey method. The total numbers of responses obtained were 410. Convenience sampling technique was adopted. Sample unit consisted of employees of various designations working in IT industries. Structural Equation Modeling (SEM) analysis was used to endorse the research model. It was found that employer branding accentuates talent acquisition, employee engagement, employee branding and talent retention. The empirical results supported the facts that employer branding promotes employer attraction and employee engagement. Likewise, employer attractiveness and employee engagement sustain employee branding. In line with the literature, survey results supported the fact that employee branding encouraged talent retention. The empirical results are useful for companies to acquire a more complete, all-encompassing depiction about the modern concept of Employer Branding.
Keywords: Employer Attraction; Employer Branding; Employee Branding; Employee Engagement; Talent Retention.
Time Taken to Complete a Meal
A Distinctive Study of Full-Service Restaurants in India.
by Sudhagar D.P
Abstract: The present study aims to investigate the relationship between the number of people dining in a table and time taken to complete the meal in three different dinner setting in five-star hotel restaurants in Chennai city, South India. For the purpose of the study, two five star hotel which has a dinner setting with an all-day dining restaurant, speciality restaurant and a rooftop restaurant were selected for the study and customers of this restaurant were unobtrusively observed by the experts while dining in the restaurant during dinner session on seven days in a week. Age and sex of the restaurant customers were not recorded. A significant positive relationship associated with the number of people dining in a table and the time taken to complete the meal in all the dinner setting. The time taken to complete the meal were longer in the rooftop restaurant and moderate in the specialty restaurant, whereas in all day dining restaurant were shorter one. The serving style of the food, ambience of the dinner setting had influence in the time taken to complete the meal. The results will enlighten the hoteliers and the restaurant managers about the understanding of restaurant customers time spent in the restaurant for dining and its relationship with the number of people dining in the table and the role of serving style of the meal, ambience involved in this relationship and it will also help the waiters in planning up the service time of the food and beverage served in the restaurant. This is the first study conducted in the Indian context particularly in the five-star hotel restaurants in dinner setting and the valuable results will help to formulate and to amend the existing meal serving technique to the guest to ensure the promptness in the service as expected and to generate good revenue from the guest.
Keywords: Keywords: Five star hotels; Meal duration; All day dining restaurant; Speciality restaurant; Rooftop restaurant; Group size; Ordering type; Ambience; Service styles.
Perception and Switch Intention of Rural Customers towards Organised Retail
by Sunit Sharma, Tejinder Sharma, Purnendu Mandal
Abstract: Faster growth potential in rural markets is quite evident from emerging retail formats. Rural customers are showing preference to go to organized retail outlets to purchase products and services that offer distinctiveness or higher value. We believe that the branded products, including clothes, attract rural customers to visit the organized retail outlets more than other reference product outlets because a customer gets the quality assurance of a brand, distinctiveness, and convenience of purchase. With a survey we find that core value delivery is the most significant predictor of purchase intention in rural market. Pre-purchase inducement and value enhancement are also other significant predictors of purchase intention.
Keywords: Rural markets; Customer perception; purchase intention; survey; India.
Brand Passion and Its Implication on Consumer Behaviour
by Christine Dlima
Abstract: This paper tries to investigate the passion in literature and drives its way through theory where passion is a component of love and moves on to passion being a component of consumer behaviour in marketing i.e.: brand passion. Passion has been studied with regard to the intensity to love. This paper picks up the triangular theory of love by Sternberg, 1986, 1997 to probe into the meaning of passion. While tracing this component the paper gradually progresses to how passion becomes a part of consumer behaviour and hence the passion extended to the brand. Thus Brand passion tantamount to the keenness, the fascination or even the fixation of a consumer for the beloved brand. Further the author tries to outline a conceptual model with the antecedents to brand passion, i.e.: loyalty, satisfaction and trust and the outcome of passion being word of mouth.
Keywords: Passion; Brand Passion; Trust; Loyalty; Word Of Mouth Communication.
Marketing Intelligence: Roles in Business Decision-making
by Pratap Chandra Mandal
Abstract: An organization cannot take decisions without the availability of proper information. Marketing is a field where changes are taking place frequently. So, marketers should have access to the latest information which will help them take effective decisions. Marketers achieve this by collection of marketing intelligence through various ways. The paper discusses the importance of marketing intelligence in decision-making, the various ways in which a marketer may collect the information, and the manner in which a marketer may use the information to know their customers better and provide prompt and effective solutions to them.
Keywords: marketing intelligence; information; internet; networking; expert opinion.
An examination of the interplay between country-of-origin, brand equity, brand preference, and purchase intention toward global fashion brands
by Javad Khazaei Pool, Sobhan Asian, Ahmad Abareshi, Hamze Kazemi Mahyari
Abstract: This study aims to propose and empirically test a behavioral model of consumer perceptions of country-of-origin, brand equity, brand preference, and purchase intention in the context of fashion brands in Iran. To provide a detailed understanding of customers perceptions of purchase intention, a survey study was conducted. The research model is validated and the developed hypotheses are tested using a structural equation model (SEM). Country-of-origin is shown to be positively associated with brand equity. Consistent with expectations, our results reveal that brand equity influences brand preference and purchase intention. Findings also support the hypothesized relationship between brand preference and purchase intention. The present research is one of the pioneer studies that highlights the importance of purchase intention with regard to fashion brands in promoting a luxury market. This study contributes to the literature by developing and testing a comprehensive research model using SEM, and offers important guidelines to international marketers who are planning to introduce their fashion brands to the Iranian market.
Keywords: Country-of-origin; Brand equity; Brand preference; Purchase intention; Fashion brands.
Exploring the Role of Technological Developments and Open Innovation in the Survival of SMEs: An Empirical Study of Pakistan
by Zeeshan Iqbal, Maimoona Malik, Muhammad Iftkhar Ahmad
Abstract: Small and Medium Enterprises (SMEs) play an important role in the flourishment of any economy around the globe. Therefore, the survival of this sector is highly important for every economy. This study theoretically and empirically explores the role of technological developments and open innovation (OI) on SME survival. It has been demonstrated within the literature that the practices of technological development and open innovation are significantly associated with business performance but its effect towards SME survival is underexplored. The first part of this paper is based on library search and available literature on SMEs and the role technological innovations towards the flourishment of SME. The library search encompasses from online and offline materials to article journals and chapter in a book. References are based on online databases such as Emerald, Elsevier, Wiley Online Library, Google Scholar, Scopus and Web of Science. The advance search is limited to SME, Open Innovation, Technological development, Survival of SME. Findings from this review shed some lights on the potential of social networking as part of online marketing; as the online customers are greater than the typical offline customers. Furthermore, in the second part of this study, researchers conducted a self-administrated questionnaire based survey to empirically examine the conceptual framework. The empirical results revealed that the effect of online marketing via social media is more powerful and diverse due to its ability to reach customers regardless of geographical locations. In addition, open innovation is an effective and emerging tool in the success of SME.
Keywords: Technological Developments; Open Innovation; Small and Medium Enterprises (SMEs); SMEs Survival; Pakistan.
AN EMPIRICAL ANALYSIS TO STUDY THE IMPACT OF MARKETING MIX ELEMENTS ON OVERALL QUALITY OF WATER PURIFIERS: EVIDENCE FROM INDIA
by Vikram Sharma, VIKAS GAUTAM
Abstract: The paper presents the results of a study conducted in India that assesses the impact of marketing mix elements on overall quality perception of customers about water purifiers. The results of confirmatory factor analysis confirmed the factor structure of marketing mix elements (product, price, promotion and place). Moreover, multiple regression results showed that barring place, all other marketing mix elements viz. product, price, and promotion have positive significant impact on overall quality perception of customers. The sample comprised of 253 respondents.
Keywords: Water purifiers; marketing mix elements; confirmatory factor analysis; correlation analysis; multiple regression analysis.
Collateral Effects of Digital Ethics Practices across Business and Society: Trends and Challenges
by Ananya Rajagopal
Abstract: Society and business have joint responsibility to govern the ethics. Digital marketing has become a cost-effective strategy for the emerging companies and has become a popular shopping place among the consumers. As the digital marketplace has grown parallel with the information technology, it has become vulnerable to piracy due to breach of ethics. Though, companies are spending a great deal of time and money to install codes of ethics in digital business through ethics training, compliance programs, and in-house watchdogs, there is still a long way to go on establishing the ethical behavior in the society. This paper critically examines the collateral effect of digital literacy on the society and business. It has been argued in the paper that the lack of digital ethics has caused serious implications on the business due to piracy and ethical breach.
Keywords: Digital marketing; ethics; digital literacy; piracy; and social implications.
Effect of Mobile Shopping Apps on Middle Age Consumers' Buying Behavior
by Ayushi Tewari, Madhvendra Misra
Abstract: Mobile commerce has nowadays become a popular internet marketing strategy which operates through various mobile devices. Mobile shopping and mobile banking are the two phenomenal shifts that have transcended the consumers attentions and interest towards online shopping. Both national players (flipkart, myntra, snapdeal) and international players (amazon, ebay) are working strategically in m-commerce business so as to increase their market share. Mobile apps are designed in such a way that they exclusively focus on increasing user engagement and make their experience easier. The aim of this research paper is to analyze the effect of mobile shopping apps on middle age consumers buying behavior. The results revealed the significant impact of mobile shopping apps on buying behavior of middle age consumers. Further it can be inferred that pre purchase services, transaction related services and satisfaction of middle age consumers are instrumental in determining the purchase intention of middle age consumers.
Keywords: Mobile shopping apps; middle age consumers; buying behavior; mobile commerce; internet marketing strategy; mobile devices; pre purchase services; transaction related services; satisfaction; purchase intention.
FORECASTING WITH LIMITED INTERMITTENT DATA: A METHODOLOGICAL FRAMEWORK APPLICABLE TO NEWLY ESTABLISHED FIRMS
by Maria Chatzipanagioti
Abstract: Nowadays, the motivation for starting a new business in Greece is necessity. As the Greek economy is experiencing the eighth year of recession, there are many newly established SMEs striving to survive. Their main difficulty lies in forecasting demand, while having both limited and intermittent data. Although the literature provides several forecasting techniques for intermittent demand, most of them are not applicable in case of short demand history. This paper provides a methodological framework for intermittent demand forecasting applicable to newly established firms with limited demand data. The proposed quantitative decision support methodology is evaluated empirically and its usage is demonstrated through its application on real data of a newly established SME in Greece. The results demonstrate that the methodology can be used to forecast demand for products with limited intermittent data. Challenges concerning all stages of the methodology are discussed, while sensitivity analyses are conducted and interesting managerial insights are presented.
Keywords: forecasting; quantitative decision support methodology; methodological framework; new firm; intermittent demand; limited demand data; small and medium-sized enterprises; SMEs; economic crisis; economic recession; Greece.
Capturing Marketing Information and Marketing Intelligence: Ethical Issues and Concerns
by Pratap Chandra Mandal
Abstract: Companies require information and intelligence about customers to understand them, formulate strategies for them, and serve them better. Companies collect this information either by themselves or by appointing marketing research agencies who collect information on behalf of the companies. Collection of information sometimes becomes a challenge because customers hesitate to share personal information with companies. Also, customers worry about the way the shared information is used by companies. Customers are concerned about the safety, security, and the privacy of information. Companies should consider the above issues during data collection from customers and also during the usage of information. The paper discusses about the sensitive issue of intrusion on privacy of customers, ethics involved, responsibilities of marketing researchers regarding sensitive information shared by customers, possible misuse of the shared information, preventive measures against misuse of research findings, and the initiatives taken by companies and authorities to protect the privacy of customers.
Keywords: information privacy; information security; marketing research; misrepresentation; preventive measure.
Understanding the Sectors of Indian Economy for Portfolio Choice
by Jaydip Sen, Tamal Datta Chaudhuri
Abstract: The purpose of this paper is to ascertain sectoral characteristics of stock market indices of India through time series decomposition. It is postulated that different sectors in an economy do not behave uniformly, and sectors differ from each other in terms of their trend pattern, their seasonal characteristics and also their randomness. Understanding companies by some specific set of fundamental parameters, leads to standardization and robs the companies of their individuality. Each company is distinct, and one of the sources of this distinctiveness stems from the sector to which it belongs. The R programming language is used for the study of the time series of indices of various sectors, and the decomposition is carried forward to individual stocks in that sector also. The proposed framework can be effectively used for portfolio formation and realignment. Based on our approach, we also provide a framework of forecasting of that can be applied on various sectors of the economy and also on individual stocks in the sectors. Results indicate that the forecasting framework is robust and provides a highly level of accuracy in forecasting.
Keywords: Time Series Decomposition; Trend; Seasonality; Random ;Forecasting; Holt Winters Forecasting Method; ARIMA; Auto Correlation;Auto Regression; Moving Average; Partial Auto Correlation; Portfolio Management.
Stock Composition of Mutual Funds and Fund Style: A Time Series Decomposition Approach towards Testing for Consistency
by Jaydip Sen
Abstract: In this paper, we present a generic approach for checking the consistency between the proclaimed style of a mutual fund and the actual fund composition. We use a method of time series decomposition of stock prices to ascertain whether their inclusion in a particular style of fund is justified. It has been our contention that some share prices have a strong trend component in their time series, some show seasonality, while some share prices exhibit strong random component. We have chosen a sample of eleven equity- based mutual funds of varying styles, from Indian financial market and analyzed whether the style of the fund matches with the stock composition of the fund. We feel that the retail investors, who buy into certain funds on the basic trust that fund managers have the requisite expertise, should know whether the portfolio matches what they promise. A detailed analysis of the results show that, while in majority of cases the actual allocation of funds is consistent with the corresponding fund style, there have been some notable deviations too.
Keywords: Mutual Fund; Time Series Decomposition; Trend; Seasonal; Random; R Programming Language; Non-parametric Statistical Tests.