Market Benefits Research Articles

Distribution locational marginal price based hierarchical scheduling framework for grid flexibility from virtual energy storage systems

• VESS's are modeled using residential air-conditioners for DSM. • Local ancillary services TSO-DSO coordination scheme for cooperative management in grids. • Hierarchical framework for scheduling aggregated VESS. • Network constrained optimal VESS participation in ancillary service markets. • DSM based practical market model for SOs, maximizing overall market benefits. Maintaining generation and demand equilibrium under large scale renewable energy integration is challenging. Conventional flexibility providers such as grid-scale Energy Storage Systems (ESS) have potential but are costly solutions. With evolving smart grid scenario, aggregated demand response from Thermostatically Controlled Loads (TCLs) is utilized as Virtual Energy Storage Systems (VESS) and considered as innovative and cost efficient solution to provide fast response reserves. VESS units are often scheduled and controlled in a centralized manner considering limited distribution system constraints. However, accurate operational flexibility potential of diversified VESS units for various grid services needs to consider distribution network constraints. It can be fully utilized when Distribution System Operators (DSO) coordinate with Transmission System Operators (TSO) to transfer grid services from VESS of its area. Local ancillary service TSO-DSO coordination scheme ensures in this perspective significant flexibility of TSO and allows both TSO and DSO to access VESS flexibility. For such controlling of diversified VESS units where DSO is responsible for aggregate flexibility and local area balancing, a hierarchical scheduling framework is more practical. In this context, this paper proposes a two-stage hierarchical approach for optimal scheduling of TCLs as VESS to optimize energy and provide grid flexibility. At the lower stage, TCLs are scheduled based on Distribution Locational Marginal Price (DLMP) provided by DSO, while ensuring consumers’ comfort. At the upper level, DSO provides additional flexibility to TSO through optimal scheduling of aggregated VESS considering local ancillary services TSO-DSO coordination scheme. The simulation results indicate that VESS scheduling improves system flexibility by maintaining a generation-demand balance.

Virtual Transcendence: IP Image Construction to Build Dongguan into a "Trendy City"

With the advent of the consumer era and the rise of the new media industry, cultural and creative products have gradually become brilliant in the commodity market, and "IP" has gradually become a hot word. People have predicted the economic value of IP copyright early, and its market benefits are gradually reflected, which eventually becomes a practical commercial means. In the IP industry, the derivatives market occupies a very important position, and art toys and derivatives are mutually connected and independent. The development models based on IP are constantly emerging, among which the source development of image IP has relied on the film, comic and animation markets for many years, while "art toys" have gradually penetrated into the cultural industry in China with an independent image IP development model. It not only relies on rich stories, texts and other content, but also relies on an image IP as the source to occupy the consumer market.

Big data as a means of management by construction, or “Hypernudge”

This study makes the case that the analytical phenomena now known as “Big Data” may be viewed as a kind of “model” management by drawing on regulated studies. This report concentrated on algebraic choice strategies, even if Big Data life choice methods may take the shape of bot’s systems. These methods are being applied to mould the factual choice scope in which actual decision takes place in order to special attention and outcome in the locations desired by the “choice builder” by emphasizing commonalities respectively data items that wouldn't otherwise be demonstrable. These methods are a “soft” kind of construction control because they depend on the use of “wink,” a specific type of decision-making that modifies individual choices in a consistent pattern without denying them any alternatives or significantly altering their market benefits. Although, unlike the permanent Moves that were snapped up. Due to their integrated, constantly refreshed, variable, and ubiquitous character, Big Data analytic moves are very strong and impactful, such as putting the salad in front of ravioli to promote a healthy lifestyle. I use a liberal, constitutional protections approach to critiquing these methods, comparing liberal different theories with chosen findings from core state powers and technological and scientific technologies (STS) on the other. I contend that relying on individual notice and approval does not adequately address concerns well about the authenticity of these processes. I also discuss the time in many cases for freedom and human booming if Big Data analytic tools driven by promotional conscience continue to develop unaddressed by lawful and productive restraints.

Diversification Benefits of Precious Metal Markets: A Stochastic Spanning Approach

Diversification Benefits of Precious Metal Markets: A Stochastic Spanning Approach

Методологічні аспекти збору первинних даних: порівняння поведінки споживачів послуг з миття автомобілів в Україні, Європі та США

The article focuses on the analysis and comparison of behavioral models of consumers of car washing services in Ukraine, the countries of the European Union and the United States, as well as the identification and analysis of key factors influencing the choice and preferences of consumers in the context of using these services. In the course of the study, numerous surveys devoted to the analysis of consumer preferences in the market of car wash services are considered, the most thorough of which are conducted every three years by the International Carwash Association (ICA). The general aspects of the methodology for analyzing consumer behavior in the market of car wash services in Ukraine, which corresponds to similar studies of the US and European markets, have been identified, a questionnaire has been developed and an online survey of car owners using Google forms has been conducted. To ensure the representativeness of the study based on the theory of sampling observation, the required number of respondents to be interviewed to establish the values of the selected features has been calculated (412 people have been interviewed). The study was conducted according to four main directions: coverage of consumers of car wash services by market segments; advantages in the provision of car wash services; barriers to the provision of car wash services; differentiation of consumer preferences. In the course of the analysis, it is found that in Europe the average frequency of using car wash services is 10.5 times a year, in the USA – 13.6, in Ukraine – 13.2. The results of surveys of service consumers in Europe and Ukraine showed a high level of loyalty to professional car washes compared to the United States. 74% in Europe and 66% in Ukraine prefer exclusively professional car washes, while in the USA this figure is only 44%. The high environmental awareness of consumers in Europe has been determined, where 70% of respondents believe that washing at a car wash is safer for the environment than washing at home. The benefits of digital marketing and customer engagement through electronic communication, especially through email and Facebook, are considered.

Symbioses between Green Marketing Sustainability and Competition Law in Malaysia

Purpose: The urgency to control and reduce environmental disasters to the air and water as well as plastic pollution, acute deforestation, industrial waste, chemical spills, climate change and global warming calamity has triggered the universal Sustainable Development Goals (SDG) policy. Thus, diverting the attention of every level of human activity towards attaining a ‘sustainable’ environment. This universal war against such environmental disasters has developed a reason to incorporate SDG policy goals into the Competition Law and Policy (CLP) globally. This exploratory study aimed to determine the symbiosis between the competition law and United Nations (UN), SDG policy application under Competition Act 2010 for promoting and enhancing Green Marketing (GM) in Malaysia. 
 Methodology: The study examines viable options for competition regulators to address sustainability policy for green marketing (GM) benefits under the scope of CLP. The study applies qualitative analysis by way of comparative study to the European Union (EU) approach to determine GM marketing legitimacy for acclaiming SDG policy as a criterion within the exemption proviso in the Competition Act 2010, Malaysia.
 Findings: Competition Law can support GM sustainability initiatives to improve the environment since GM is not just about producing and marketing environmentally sustainable products but from a broader perspective contributes to innovation and consumer welfare. Hence, GM's social market and societal benefits towards sustainability objectives are arguably considered to outweigh its countervailing anticompetitive effects for sustainable exemption policy under the CLP. However, GM can only substantially contribute to addressing global warming and the environment under the SDG if applied legitimately. In addition, the GM must be also endorsed to incorporate broader environmental-related benefit policy within its competition law prohibition and exemption framework to resonate with the UN’s SDG.
 Implications/Originality/Value: The endorsement of GM sustainable benefits by way of exemption, exception or being pro-competitive allows a fair competitive advantage for GM industry growth. The research examines and proposes the exemption options for GM-related mergers, a collaboration by way of agreement and government exception policies under CA2010.

Symbioses between Green Marketing Sustainability and Competition Law in Malaysia

Purpose: The urgency to control and reduce environmental disasters to the air and water as well as plastic pollution, acute deforestation, industrial waste, chemical spills, climate change and global warming calamity has triggered the universal Sustainable Development Goals (SDG) policy. Thus, diverting the attention of every level of human activity towards attaining a ‘sustainable’ environment. This universal war against such environmental disasters has developed a reason to incorporate SDG policy goals into the Competition Law and Policy (CLP) globally. This exploratory study aimed to determine the symbiosis between the competition law and United Nations (UN), SDG policy application under Competition Act 2010 for promoting and enhancing Green Marketing (GM) in Malaysia. 
 Methodology: The study examines viable options for competition regulators to address sustainability policy for green marketing (GM) benefits under the scope of CLP. The study applies qualitative analysis by way of comparative study to the European Union (EU) approach to determine GM marketing legitimacy for acclaiming SDG policy as a criterion within the exemption proviso in the Competition Act 2010, Malaysia.
 Findings: Competition Law can support GM sustainability initiatives to improve the environment since GM is not just about producing and marketing environmentally sustainable products but from a broader perspective contributes to innovation and consumer welfare. Hence, GM's social market and societal benefits towards sustainability objectives are arguably considered to outweigh its countervailing anticompetitive effects for sustainable exemption policy under the CLP. However, GM can only substantially contribute to addressing global warming and the environment under the SDG if applied legitimately. In addition, the GM must be also endorsed to incorporate broader environmental-related benefit policy within its competition law prohibition and exemption framework to resonate with the UN’s SDG.
 Implications/Originality/Value: The endorsement of GM sustainable benefits by way of exemption, exception or being pro-competitive allows a fair competitive advantage for GM industry growth. The research examines and proposes the exemption options for GM-related mergers, a collaboration by way of agreement and government exception policies under CA2010.

Assessing Digital Transformation Acceptance in Public Organizations’ Marketing

Digital transformation has a substantial impact on the activities of public organizations. The way public organizations conduct marketing has also changed due to digital transformation. This paper evaluates how digital transformation influences public organizations’ marketing activities in their employees’ perception and examines the changes triggered by digital technology in public marketing. The research results are based on the literature review empirical studies based on a survey conducted among 425 employees of public organizations in Romania in the marketing field. Using the technology acceptance model and structural equation modeling to analyze and interpret the data, the paper demonstrates that digital technologies have a substantial impact on marketing, in the perception of technology users, in helping to build relationships with the public, and in increasing citizens’ trust in public organizations. Digital technologies, by their significant characteristics (innovativeness, social influence, accessibility, and rapidity), have a significant impact on all public marketing activities. However, they are substantially transforming quantitative marketing research activities due to the digitization of financial accounting and managerial information systems, as well as interactive and transparent communication and public relations activities. Public organization managers must explain the benefits of digital marketing to employees from the internal branding perspective as well as the effectiveness of public marketing activities.

Impact of environmental, social, governance, and corporate social responsibility factors on firm’s marketing expenses and firm value: A panel study of US companies

During recent times of uncertainty, sustainable marketing and sustainable finance became hot research topics attracting both academics and practitioners. Although centering marketing efforts around the firm’s Environmental, Social, and Governance (ESG) and Corporate Social Responsibility (CSR) policies allow for creating a superior image and increasing brand value, the incorporation of ESG/CSR activities might seem to be costly and have been claimed to not provide direct marketing benefits. This study aims to explore the impact of firms’ ESG/CSR engagement on marketing expenses and firms’ market value to provide a strategic rationale for firms to undertake ESG/CSR activities to position their companies distinctly in the marketplace accordingly. The study employs a panel regression to analyze the impact of ESG and CSR commitments on a firm’s marketing expenses in a sample of S&P 500 firms in the United States. The results indicate that the firms with higher CSR engagement spend proportionately lesser on their marketing expenses and entertain a higher market value. The results also suggest that the firm’s board size, board diversity, and social engagement considerably enhance the firm’s market value. The results indicate that focusing on firms’ environmental responsibility alone does not sufficiently contribute to enhancing the value of the firm, stakeholders are rather more concerned about the firm’s societal engagement which must, therefore, be overtly communicated and reported.

Discover the Benefits of Agile Marketing

Discover the Benefits of Agile Marketing

Reinterpretasi Teater Tradisi Dalam Perspektif Patronase

Traditional art theatre that is owned and attached to a community can be used to understand the culture of a society. This is true because traditional arts and theater reflect the personality and way of life of the broader community. Traditional theatrical productions that are held live and move from one location to another (tobong) are becoming increasingly rare and are currently on the verge of extinction. Additionally, every performance is always in competition with other arts that have been transformed by other technological media television. Many forms of presentation produced using stage visuals were influenced by ludruk tobong, which had its peak in the 1970s and 1980s. Ludruk Tobong, a traditional populist-based theater, was born and raised in a society that has served as its primary patron. Every staging of a play incorporates "actors and patrons" as a representation of life, and this is also true of the ludruk tobong performance. When entertainment in multiple media can alienate an audience, the ludruk tobong packaging is now regarded as outmoded and does not offer market benefits, making it more difficult to carry out regeneration, which causes a gradual fall in both supporters and perpetrators. It's interesting to investigate social dynamics that affect the continued existence of traditional populist arts or theater through a patronage-based reinterpretation. This qualitative study aims to describe various supporting factors and explain the reinterpretation and patronage perspectives in ludruk tobong performances as traditional theater. To analyze the results of the study, the concept of traditional art and the analogy of Goffman's performance or dramaturgy were used as well as the concept of patronage and various other concepts that were also supported by the results of interviews in the field.

Establishment and Study of an Evaluation Model for the Exploitation Effect of University Scientific and Technological Patents

Due to the lack of sufficient understanding by the public of the process and mechanism of how university patents are exploited, the exploitation effect of university patents is not satisfactory. Therefore, it is necessary to effectively evaluate the exploitation effect of university patents in order to explore a reasonable path for and expand the role of university patent exploitation. Currently, there has been few research on how to evaluate the exploitation effect of university patents. To this end, this paper focuses on university scientific and technological patents and explores the effective evaluation method for the exploitation effect of these patents. First, market share, market benefit, patented technology maturity, enterprise nature and government support were selected as the evaluation indicators for the exploitation effect of the scientific and technological patents in colleges and universities in the study area. It was proposed that the five influencing factors and the exploitation effect of university scientific and technological patents interact with and influence each other. Then a combined model based on grey prediction GM (1,1) model and BP neural network model was constructed for the evaluation of the exploitation effect of scientific and technological patents in colleges and universities, which proved to have better prediction performance. The experimental results proved the effectiveness of the prediction model, and also verified the interactions between the five influencing factors and the exploitation effect of university scientific and technological patents.

Ten simple rules on how to develop a stakeholder engagement plan

To make research responsible and research outcomes meaningful, it is necessary to communicate our research and to involve as many relevant stakeholders as possible, especially in application-oriented—including information and communications technology (ICT)—research. Nowadays, stakeholder engagement is of fundamental importance to project success and achieving the expected impact and is often mandatory in a third-party funding context. Ultimately, research and development can only be successful if people react positively to the results and benefits generated by a project. For the wider acceptance of research outcomes, it is therefore essential that the public is made aware of and has an opportunity to discuss the results of research undertaken through two-way communication (interpersonal communication) with researchers. Responsible Research and Innovation (RRI), an approach that anticipates and assesses potential implications and societal expectations regarding research and innovation, aims to foster inclusive and sustainable research and innovation. Research and innovation processes need to become more responsive and adaptive to these grand challenges. This implies, among other things, the introduction of broader foresight and impact assessments for new technologies beyond their anticipated market benefits and risks. Therefore, this article provides a structured workflow that explains “how to develop a stakeholder engagement plan” step by step.

Sequential Innovation in Mobile App Development

Problem definition: In today’s highly dynamic and competitive app markets, a significant portion of development takes place after the initial product launch via the addition of new features and the enhancement of existing products. In managing the sequential innovation process in mobile app development, two key operational questions arise. (i) What features and attributes should be added to existing products in successive versions? (ii) How should these features and attributes be implemented for greater market success? We investigate the implications of three different types of mobile app development activities on market performance. Academic/practical relevance: Our study contributes to the operations management literature by providing an empirically based understanding of sequential innovation and its market performance implications in mobile app development, an important industry in terms of size, scope and potential. Methodology: Using a novel data set of mobile apps in the Productivity category, we leverage text-mining and information retrieval techniques to study the rich information in the release notes of apps. We then characterize product development activities at each version release and link these activities with app performance in a dynamic estimation model. We also incorporate an instrumental variables analysis to substantiate our findings. Results: We find that greater update dissimilarity (i.e., dissimilarity of the features and attributes of a new update from those of previous updates) is associated with higher performance, especially in mature apps. We also find that the greater the product update market orientation (i.e., the greater the similarity of the focal firm’s new features and attributes with respect to the recent additions of its competitors), the higher is the market performance. This finding suggests that the market rewards those developers who have a responsive policy to their competitors’ product innovation efforts. Our results also suggest that a rapid introduction of updates dampens the potential market benefits that the mobile app developers might gain from market orientation. We find no evidence of a beneficial effect of product update scope (i.e., incorporating features and attributes from other product subcategories) on market performance. Managerial implications: Our study offers managerial insights into mobile app development by exploring the sequential innovation characteristics that are associated with greater market success in pursuing and implementing new features and attributes. Supplemental Material: The online appendices are available at https://doi.org/10.1287/msom.2022.1154 .

Effects of digital marketing practices on performance of insurance sector

Digital marketing practices have had explosive growth in the past decade, especially in the insurance sector of developing countries. In particular, the internet has been instrumental in providing digital marketing services to customers from the insurance sector. The purpose of this study, therefore, is to assess the effect of digital marketing practices on the performance of the insurance sector. A desktop literature review was used for this purpose. Relevant seminal references and journal articles for the study were identified using Google Scholar. The inclusion criteria entailed papers that were not over ten years old. The study found that the use of digital marketing strategies has a positive effect on the insurance sector's performance. Profitability improved, market share grew, and they expanded their market share. Increased customer loyalty and access to new markets are benefits of internet marketing for insurance companies. According to the findings, insurance companies should make IT infrastructure investments and implement technology-enhanced processes. Employers require adequate training on the use of e-business platforms, as well as collaboration with providers of digital services to enable them to store and market their products and services online. Aside from using traditional marketing methods (such as direct mail), the study advises general insurance companies to be innovative by implementing new strategies, such as digital marketing, to gain a larger share of their target market. This is because strategies for digital marketing have a positive impact on the overall performance of the insurance industry.

Impact of a Carbon Tax on Energy Transition in a Deregulated Market: A Game-Based Experimental Approach

Energy companies in a competitive market face a dilemma between the short-term revenue benefits of using fossil fuels and the long-term market benefits of investing in renewables. This dilemma is caused by uncertainties in price competition, return on investment in renewables, and the price of fossil fuels. This study experimentally investigated whether a carbon tax contributes to overcoming this conflict using an online multi-player game. The participants played the role of energy companies that produce energy from either fossil fuels or renewables. The game was played seven times each, with and without taxation on fossil fuels. In the with-tax condition, the rate and timing of taxation were informed at the beginning of the game, and the tax was imposed late in the game. The gameplay results showed that the investment in renewables was increased by the actual taxation but not by the information of taxation in advance. The answers to in- and post-game questionnaires indicated that information on taxation did not reduce player anxiety about future uncertainties. These results suggest the importance of considering the effects of policies on the perceptions and future behaviors of market players.

Entrepreneurial marketing of small and medium-sized suppliers enhancing technological capability: lessons from industrial suppliers in South Korea

PurposeRapid changes in technologies and customer preferences are increasing market uncertainty. Hence, despite the benefits of reactive and adaptive marketing in the industrial market, such marketing is sometimes insufficient for suppliers to survive and succeed. This phenomenon is prevalent among the small and medium-sized suppliers (SMSs) who fail to build technological capability. This suggests that SMSs should be entrepreneurial to survive and succeed in today’s environment. Against this backdrop, the purposes of this study are to understand the process by which entrepreneurial marketing of SMSs enhances their technological capability and to explore factors that stimulate SMSs to implement entrepreneurial marketing.Design/methodology/approachBased on a survey data set on 249 industrial SMSs in South Korea, the authors test the hypotheses formulated in this work using structural equation modeling.FindingsBased on effectuation theory, this study conceptualizes entrepreneurial marketing as a process by contrasting entrepreneurial marketing with reactive and adaptive marketing. The results show that proactive market orientation and subsequent exploratory market behavior enhance technological capability, and proactive market orientation is stimulated by relational satisfaction and perceived technological turbulence.Originality/valueThis study advances effectuation theory in the industrial marketing literature by exploring the value of entrepreneurial marketing in today’s industrial market. Further, this study extends the entrepreneurial marketing literature by conceptualizing and testing the process by which entrepreneurial marketing of SMSs enhances their technological capability.

Analysis on Innovation Path of Business Administration Based on Artificial Intelligence

In order to effectively promote the efficiency of retail enterprises, the innovation path of business administration based on artificial intelligence is studied. Through a questionnaire survey, collect the relevant data of retail enterprise value network, business model innovation, and enterprise benefits, and through regression analysis. The experimental results show that before the business model innovation, the coefficients of internal value network innovation and external value network innovation are 0.413 and 0.258, respectively. After the business model innovation is added, the coefficients of the two are reduced to 0.208 ( p = 0.012 < 0.05 ) and 0.113 ( p = 0.005 < 0.01 ). In addition, the coefficients of the two dimensions of business model innovation are significant at the 1% level. Conclusion. Both internal value network innovation and external value network innovation have a significant positive impact on the functional business model innovation and artificial intelligence business model innovation of retail enterprises. Functional business model innovation and artificial intelligence business model innovation have a significant positive impact on the financial and market benefits of retail enterprises. Internal value network innovation and external value network innovation have a significant positive impact on the financial and market benefits of retail enterprises. Business model innovation plays an intermediary role in the relationship between internal value network innovation, external value network innovation, and the financial and market benefits of retail enterprises.

Attitudes of the Indian Middle Class: A Theory of Planned Behavior Approach

The author conducts a pilot study to investigate whether the benefits of global marketing and the purported liberal policies of the Government of India have percolated to the Indian middle-class since the year 2014, when the present government came to power. The author collects data through online surveys from Indian citizens, and then conducts a qualitative analysis of the same to test six propositions based on Maslow’s Hierarchy of Needs Model and the Theory of Reasoned Action. The author finds moderate to strong support for five of his propositions and sets the stage for a more robust research study that the author is planning to conduct on this highly relevant topic. Keywords: globalization, consumer experience, marketing strategy, political marketing

The adoption of smart industry 4.0 app technology and harnessing e-WOM in the wine industry caused by a global pandemic: a case study of the Yarra Valley in Australia

PurposeThis exploratory study aims to examine how wine stakeholders' are adopting innovative advancements in smart industry 4.0 application technology (SI4.0AT) coupled with electronic word-of-mouth (e-WOM) techniques to increase winery visitation and wine sales, prior to and during a global pandemic in the Yarra Valley in Victoria, Australia.Design/methodology/approachA qualitative interpretivist geographical bounded case study approach was used to collect data from fifteen Victorian wine stakeholder's prior to and during the global pandemic COVID-19. A thematic analysis was applied to interpret participant responses and how they viewed, reacted to and harnessed S14.0AT and e-WOM to continue and increase wine sales.FindingsThe findings suggest few wine stakeholders' were actively implementing SI4.0AT prior to the global pandemic, COVID -19. With the forced closure of wineries to visitors across Australia, most small to medium-sized wineries immediately changed their business models to concentrate on domestic e-commerce wine sales and home delivery. To support these new business models, e-WOM techniques were quickly adopted or increased whereas other S14.0AT technologies were not, due to financial restraints.Research limitations/implicationsThe number of participants used in this study is a limitation, however, this can be overcome by replicating this study in other wine regions. This research focused on the wine stakeholders' viewpoint only and may not be easily generalised. Future studies may examine the “what” aspect of SI4.0AT is being used and e-WOM content such as investigating what consumers are saying about these wineries, the method of communication and the motivations for consumers to engage with a winery.Practical implicationsThe implications for the wine industry and overall results offer insight into the wine stakeholders' perceptions of SI4.0AT and e-WOM and consequent marketing strategy of wineries in the Yarra Valley, Victoria, both pre- and during forced face-to-face winery closures due to a global pandemic. Wineries need to continue to harness and leverage the benefits of e-WOM wine marketing in their marketing strategies and continue to explore the affordability of 4.0 app technology and Tourism 4.0 options.Originality/valueThis study is the first attempt at investigating how wine stakeholders' view; react to and harness SI4.0AT and e-WOM through formalised online marketing strategies which should continue to be investigated in the future.