International Journal of Business Forecasting and Marketing Intelligence (9 papers in press)
CONSUMERS ELECTRONIC WORD OF MOUTH-SEEKING INTENTIONS ON SOCIAL MEDIA SITES CONCERNING SAUDI BLOGGERS YOUTUBE FASHION CHANNELS: AN ECLECTIC APPROACH
by Majdah ALnefaie, Shahadat Khan, Siva Muthaly
Abstract: This study seeks to investigate the appropriateness of an eclectic model of factors that influence Saudi consumers electronic -word-of-mouth (eWOM) seeking intention on bloggers YouTube social media sites. There is lack of understanding about eWOM seekers motivations to engage in these behaviour patterns. This study uses the theory of utilitarian and hedonic motivations and explores the factors related to the social and cultural elements that influence eWOM-seeking intention. The study implemented a two-phase mixed method approach including qualitative observation netnography method and then an online questionnaire was designed to test the relationships among the variables in the studys conceptual framework. A total of 210 usable responses were received. The data was analysed using the partial least squares analysis (PLS) technique. The findings indicate that availably-of-information and purchase-intentions developed through utilitarian motivations had the most significant influence on eWOM-seeking intentions. The managerial implications, limitation and future study are deliberated.
Keywords: Social Media Sites; Electronic word of mouth; Utilitarian and Hedonic Motivations; Seeking intention; Fashion industry; Saudi Arabia.
Assessment of efficiency and ranking of microfinance institutions in India: a two-stage bootstrap DEA analysis
by Asif Khan, Rachita Gulati
Abstract: This paper examines the financial, social and overall bias-corrected efficiencies of 82 Indian microfinance institutions for the year 2015-2016, and obtains the potential determinants of efficiency scores using double bootstrap procedure by Simar and Wilson (2007). Bias-corrected efficiency scores are used to provide a strict ranking to sampled MFIs. An attempt is made to resolve the unsettled debate on trade-off between the dual goals of the MFIs. The results reveal that Indian MFIs are found more financially efficient than socially efficient in the sampled year. The efficiency differences across the MFIs' operating in central and northern regions and distinct sizes classes of MFIs are statistically significant. The study establishes enough evidence to advocate the absence of trade-off in achieving dual goals in the Indian MFI industry in the year 2015-2016. Finally, size of MFI and equity to assets ratio influences the efficiency levels of Indian MFIs.
Keywords: Microfinance institutions; Financial efficiency; Social efficiency; Trade-off; Ranking of MFIs; Bootstrap DEA model.
A comparative study of forecasting methods for sporadic demand in an Auto Service Station
by Rahul S. Mor, Jitendra Nagar, Arvind Bhardwaj
Abstract: Spare parts are essential in the automobile sector and forecasting of spare parts has always been the vital prospects in an automobile service parts station. In this paper, a comparison and efforts have been made at the service station of a reputed organisation to reduce the errors in demand forecasting of intermittent demand items. The errors are compared for various methods using mean absolute scaled error (MASE) and Syntetos and Boylan approximation (SBA) method which exhibited the least error for intermittent demand and lumpy demand pattern. While single exponential smoothing method is used for smooth and erratic demand pattern. All calculations are done in MS Excel and solver tool to find optimal values of smoothing parameters.
Keywords: Demand forecasting; intermittent demand; sporadic demand; MASE; Solver; auto service station.
Retail service quality scale validation in Pakistani super and hyper stores' context
by Umer Mukhtar, Suleman Anwar, Umaid A. Sheikh
Abstract: The purpose of this study is to test the retail service quality model, reliability, validity and generalisability of retail service quality scale (RSQS) in retail hyper and supermarkets of Pakistan, developed by Dabholkar. Two well-known retail stores categorised as hyper and super market stores are selected for this study. Purposive sampling method was used and 250 useful responses were collected from both stores in the region of Lahore, Pakistan. The model and instrument is also appropriate in Pakistan for measurement and make use of other than the USA and developed countries. Retail business managers can assess the current state of retail service quality and can do management decisions to improve the performance in each dimension of model. This study contributes towards the limited studies carried out on model and instrument validity in Pakistan. This study is contributing by fulfilling the need of instrument validation, as it is a critical incremental progression to ensure the valid scientific knowledge generation.
Keywords: retail service quality; super stores; validity of RSQS; customer service quality; retailing; hyper stores; service experience; retail sector Pakistan; reliability; customer interaction; tangibles.
Public policy issues and initiatives in collection of information and intelligence in direct marketing
by Pratap Chandra Mandal
Abstract: Companies require information about their customers to attract them, influence them, and build relationships. Companies apply a number of direct marketing channels to collect information and intelligence about customers. Collecting information and intelligence through direct marketing channels raises concerns about the different unfair practices followed by direct marketers. The paper discusses the various unfair practices adopted by companies involved in direct marketing, the issue of invasion of consumer privacy, and the need for protection of consumer privacy. The paper further focuses on the various rules and regulations enforced by the governments of countries to protect customers. The various initiatives taken by companies are discussed. Direct marketing channels allow companies to collect information and intelligence about customers and to influence them. However, companies need to protect their customers to build long-term relationships.
Keywords: direct marketing; consumer privacy; consumer protection; marketing information; unfair practices.
SMEs' intention towards the adoption of mobile marketing: a case of Pakistan
by Masood Ul Hassan, Maimoona Malik, Zeeshan Iqbal
Abstract: The fastest growing marketing phenomena, around the world especially in small and medium enterprises (SMEs) of developed and developing economies, is the adoption of mobile marketing which radically influences ways of advertising. However, Pakistani SMEs are less interested towards the adoption of mobile marketing. Therefore, this study aimed to develop and examine a parsimonious structure of multiple constructs comprised as technological (perceived usefulness, perceived ease of use), organisational (subjective norms, financial resources) and environment (competitive pressure, customers pressure and technological support) through the theoretical lens of technology-organisation-environment (TOE). Convenient sampling technique was used for data collection by distributing self-administrated questionnaires among the top-management of SMEs in Pakistan. Furthermore, structural equation modelling with the help of SmartPLS was used to analyse the yielded data. The study results empower the policy makers and academicians to gain in-depth knowledge of the drivers associated with intention to adopt m-marketing by Pakistani SMEs.
Keywords: small and medium enterprises; SMEs; technological factors; organisational factors; environmental factors; TOE framework; mobile marketing; intention; Pakistan.
Individuals' intention towards social commerce: an empirical study of Pakistan
by Masood Ul Hassan, Zeeshan Iqbal, Nayab Bukhari, Ubaidullah Shafique
Abstract: This study aimed to explore the individuals' intention towards the social commerce in Pakistan through the theoretical lenses of technology acceptance mode, theory of reasoned action and theory of planned behaviour. A parsimonious structure of the key constructs of TAM, TRA and TBP along with an additional construct of perceived risk was developed. The researchers have developed a research questionnaire and distributed among the respondents to yield the data about the study constructs. Furthermore, PLS-SEM approach was utilised, through SmartPLS software, to test the hypothesised relationships between the study constructs. The results disclosed the significant highlights about the individuals' behavioural intention towards social commerce with respect to Pakistan, which are useful for the academicians as well as for the policy makers.
Keywords: technology acceptance model; TAM; theory of reasoned action; TRA; theory of planned behaviour; TPB; attitude; intention; social commerce; Pakistan.
Forecasting crude oil price volatility in India using a hybrid ANN-GARCH model
by Sujoy Bhattacharya, Arshad Ahmed
Abstract: In this paper the volatility forecasts of crude oil commodity price returns are analysed. Various GARCH family models are used to forecast the volatility and the output in terms of return vectors of these models are used as inputs for a neural network. The return forecasting performance of the GARCH family models are compared with GARCH-ANN models using root mean square error as the criteria. The results show that the hybrid model of ANN and EGARCH gives the best performance. An explanatory variable, the exchange rate between Indian Rupee and Saudi Arabia Riyal is used as input for the neural network model for the second scenario and using the same criteria of root mean square error, it is observed to have no improvement over the previous ANN-GARCH models.
Keywords: GARCH models; ANN-GARCH; crude oil; volatility forecasting; India.
Comparison of methodologies of Shari'ah stock screening: the case of SAC SC Malaysia, FTSE Yasaar Dubai and Dow Jones Islamic market indices
by Aida Shaiza Ismail Zakri, Shaikh Hamzah Abdul Razak, Zainal Abidin Mohd Tahir
Abstract: On average the Islamic finance industry has grown by almost 20& per annum, a compound annual growth rate of 17& from 2009 to 2013 (IFSB, 2013) with its current assets estimated to be worth USD 2 trillion and is set to reach USD 5 trillion in year 2020. This paper aims to analyse three Shari'ah screening methodologies namely Securities Commission (Malaysia), FTSE NASDAQ Dubai Shari'ah Index Series and the Dow Jones Islamic Market Indices. A sample of 30 companies comprising Shari'ah and non-Shari'ah stocks invested by the Malaysian institutional funds were analysed. Our analysis shows that out of the 30 samples stocks, only eight companies passed the screening using the criteria of the three providers. The limitations of the study is the non-availability of detailed information such as type of bank accounts and debts, hence assumption made is that the cash are placed in conventional accounts unless indicated.
Keywords: Shari'ah stock screening; Securities Commission; Dow Jones; FTSE Dubai; quantitative screening; financial ratios; qualitative; quantitative.