Market Innovation Research Articles

NNT and NNH: statistics and stochastics in the evaluation of added therapeutic value

Any pharmacological, invasive, surgical health intervention should have an added therapeutic value as well as the requirements of quality, safety, efficacy, to be considered as a medical device based on scientific evidence and of clinical utility for the patient. The intervention should be shared between the doctor and the patient who should have rigorous but simple tools to decide on the best therapy to undertake. Assessment of relative risk reduction is commonly used in the scientific literature to quantify both statistical and clinical significance. The reduction of the relative risk is independent of the baseline risk and is useful for comparing the results of trials conducted on populations at different risk levels. A biased reading of relative risk reduction can be used to emphasize the magnitude of the benefit for market innovation. The absolute risk reduction, on the other hand, is proportional to the magnitude of the baseline risk and is a more useful parameter for physicians and patients to understand the extent of benefit and harm, especially if the parameter is expressed in terms of the number needed to treat (NNT) or to harm (NNH). The mode of scientific communication is important for doctors' choices and patients' trust. Even true data can be fake in communication and perception by resorting to verbose paraphrases. Presenting the results of clinical trials in stochastic as well as statistical terms is useful for doctors and patients to verify whether it is worth practicing a certain treatment whose success sometimes has the probability of winning the lottery, also considering side effects and adverse events. One of the most important challenges in precision medicine will be understanding the relationship between probability and randomness.

Transforming Challenges Into Opportunities: The Role Of Accounting Systems And Technology In MSME Performance Post-COVID-19, Enhanced By Market Innovation

This research explores the impact of technology adoption on the performance of Micro, Small, and Medium Enterprises (MSMEs) in the post-COVID-19 landscape, with a particular focus on the moderating role of market innovation. Utilizing a Structural Equation Modeling (SEM) approach, data was collected from MSMEs to evaluate the relationships among technology adoption, market innovation, and business performance. The findings reveal that technology adoption has a significant positive effect on MSME performance, contributing to operational efficiency and improved customer engagement. However, contrary to expectations, market innovation does not significantly moderate this relationship. This suggests that the immediate benefits of technology adoption are sufficient to drive performance improvements without the need for market innovation to enhance these effects. The research highlights the importance for MSMEs to prioritize technology adoption as a strategy for resilience and growth in the wake of the pandemic, while market innovation can be pursued as a complementary initiative for long-term competitiveness. The study provides valuable insights for policymakers and practitioners aiming to support the recovery and development of MSMEs in Indonesia.

An Analysis of MUJIs Successful Strategy in the Chinese Market

Abstract: The Chinese consumer market has changed significantly in the last few years due to a tendency toward simplicity and a change in customer sentiments. MUJI has effectively entered the Chinese market by using its sustainable development idea and minimalist style, allowing it to adapt to this shift. This paper aims to examine the innovative marketing strategy employed by MUJI in the Chinese market, its capacity to achieve long-term growth, and its role as a symbol of the minimalist lifestyle, while demonstrating an ability to adapt to the changing needs of its customers. In this paper, both literature review and data analysis are employed to provide an in-depth study of MUJIs strategy to enter the Chinese market. The results show that Chinese consumers preference for MUJI products not only stems from their simple and practical design, but also coincides with the concept of minimalist aesthetics in traditional Chinese culture. In addition, MUJI's unique advantages in product quality, brand image and marketing strategy further enhance its competitiveness in the Chinese market. Through specific analysis, it comprehensively discusses the success factors of this Japanese brands minimalist design style in the Chinese market, which provides a reference for the design and marketing of other international brands in the Chinese market.

Innovation and Development Trends in ASEAN Marketing Models in the Digital Age

The digital wave is reshaping the global economic landscape with unprecedented force, especially in the dynamic and promising ASEAN region. Southeast Asia, a multicultural gathering place composed of ten countries, is experiencing profound changes due to the digital revolution, and its marketing model is also displaying new vitality. With soaring internet penetration, widespread use of smartphones, and the booming rise of social media, ASEAN markets have become at the forefront of global digital marketing innovation. This transformation is not only about the application of technology but also involves a comprehensive shift in thinking, consumer behavior, and business strategy. The purpose of this paper is to explore in depth how ASEAN marketing models are innovating in this era and to identify future trends, with a view to providing insights for companies to help them remain competitive in the rapidly changing market.

Relationship Between Organisational Innovation and Organisation Performance: A Study of Nigeria Bottling Company

In an increasingly competitive business environment, the role of organisational innovation as a driver of performance is more crucial than ever. This study investigates the relationship between organisational innovation and organisational performance with a specific focus on Nigeria Bottling Company. Using a mixed-methods approach, the study explores how innovations in product development, processes, and management systems contribute to enhanced operational efficiency, market share, and financial outcomes. The study adopts a descriptive cross-sectional survey. The target population for this study consisted of two hundred and forty-five (245) staff members from Nigeria Bottling Company. Data was collected through structured questionnaires with key personnel across various departments within the organisation and analysed using descriptive statistics and regression analysis for the hypotheses. The study revealed that film size innovation is vital for a company's success in today's highly competitive business environment and leads to higher productivity, meaning that the same input generates a greater output. Innovatiocontributeste to firms’ success in terms of better performance in the form of higher profits, lower production costs, more efficient working procedures, and better relationships with customers. Furthermore, finding shows that creativity and innovation helps and improves the work of employees together with improving organisational performance. The study concludes that fostering a culture of continuous innovation is essential for sustaining competitive advantage in the beverage industry. It is therefore recommended that technological innovation be incorporated at all levels. The management of the organisation has to design an effective and timely market innovation strategy and communicate it to all staff members to enhance organisational performance and productivity. Organisations should consider innovation that is either market, product or organisation-based to improve and increase the organisational performance as innovation is significant to new product development, product modification and creation of a new market as experienced in new product lines like increase in online marketing, online purchase of different products and global connection of markets into one.

Harnessing the Power of VR and AR Technologies in Internet Celebrity Marketing and User Interaction

The integration of Virtual Reality (VR) and Augmented Reality (AR) technologies into internet celebrity marketing offers unprecedented opportunities for enhancing user engagement, personalizing user experiences, and creating interactive content. This paper explores how VR and AR can revolutionize user interaction by providing immersive experiences and valuable data collection capabilities. By examining various applications, including virtual events, AR advertisements, and branded experiences, we highlight the significant business opportunities these technologies present for internet celebrities and brands. The ability to monetize VR and AR content, combined with insights gained from data analysis, drives innovative marketing strategies and fosters deeper connections with audiences. Through collaborations between internet celebrities, brands, and tech companies, the potential of VR and AR to transform digital marketing and engagement is immense, offering exciting new avenues for growth and success.

Analysis of Marketing Strategies for Bestselling Books in the Context of Publishing Convergence: A Case Study of The Fugitive Artist

Driven by the dual forces of the digital wave and global trends, the publishing industry is undergoing unprecedented transformation, with publishing convergence becoming the new norm for industry development. In this context, the deep integration of traditional publishing and digital publishing has not only reshaped the methods of content production, distribution, and consumption but has also raised the bar for marketing strategies of international bestsellers. The Fugitive Artist, a fictional literary work that has made a global impact, owes its success not only to its profound literary value and captivating plot but also to its precise and innovative marketing strategies. This provides a valuable case for the market promotion of international bestsellers. This paper aims to analyze the marketing strategies of The Fugitive Artist in the context of publishing convergence, exploring how the book stood out in a complex and ever-changing market environment, and offering insights for the international promotion of similar works from China.

A Review on Balenciaga Market Campaign Analysis

The thesis focuses on the market campaign analysis of Balenciaga. With the brand's rapid ascent in the luxury market, it is essential to understand the reasons behind Balenciaga's success in such a short period. One significant factor contributing to this success is Balenciaga's strategic use of social media and innovative product launches. The brand frequently unveils new products on social media platforms, creating a strong and lasting impression on customers. This strategy not only enhances brand visibility but also attracts a substantial number of consumers, driving sales and market presence. However, Balenciaga has faced several ethical issues in recent years, which have drawn public scrutiny. These controversies highlight the need for the brand to address and resolve these ethical concerns to maintain its reputation and consumer trust. Despite these challenges, Balenciaga's potential to continue leading the luxury market remains strong. By appropriately handling ethical issues and maintaining its innovative marketing strategies, Balenciaga can sustain its growth and reinforce its position as a dominant player in the luxury fashion industry.

Marketing antibiotics as vaccines? Analyzing the successful marketing of a pharmaceutical innovation: the case of tulathromycin in veterinary medicine

This article aims to explain the success of tulathromycin in the cattle and pig industry by tracing the ‘social life’ of this antibiotic. To do so, it draws on interview data with veterinarians working in the pharmaceutical industry, observations from training sessions conducted by them, and data from professional journals. The article demonstrates that tulathromycin’s success primarily stems from its unique properties as a long-acting macrolide antibiotic, positioning it as an innovative solution in the veterinary market. By providing immediate and prolonged protection with a single injection, it addresses organizational challenges in the cattle and pig sectors. It thus serves as a ‘quick fix’ for disease control in intensive farming systems and appears, as such, more suitable than vaccination. Its presentation and commercial name, Draxxin, is reminiscent of “vaccine”, which contributes to the confusion about its nature and plays a key role in its widespread adoption.

Omnichannel Based Integrated Marketing Communication At Tripatria Innovation Marketing Program

This study explores the application of an Integrated Marketing Communication (IMC)-based omnichannel approach in Tripatria's Innovation Marketing Program. This program aimed to increase brand awareness and consumer trust through an integrated online marketing strategy. The program, conducted over six months, successfully engaged general consumers and healthcare professionals, leading to increased interactions on social media and product purchases. The findings highlight the significant impact of a well-executed omnichannel strategy on consumer behavior and brand perception and emphasize the need for continuous innovation and adaptation in marketing strategies to remain competitive in the dynamic healthcare market. Future research should investigate the long-term effects of such marketing programs on customer loyalty and retention.

ЕВОЛЮЦІЯ МАРКЕТИНГОВИХ ТЕХНОЛОГІЙ В КОНТЕКСТІ МАРКЕТИНГУ ТЕРИТОРІЙ ТА РЕГІОНАЛЬНОГО РОЗВИТКУ

The relevance of the article is determined by the need to determine the essence, features and areas of application of special technologies of marketing territories, understanding the importance of matching a set of marketing technologies to a certain marketing concept and the life cycle of the territory, increasing the requirements for the level of professionalism in choosing investment directions in marketing and areas of application of marketing tools in the processes of social economic development of countries, regions, cities, communities. The purpose of the article is to study the evolution of marketing technologies, to deepen their understanding in the context of marketing territories and the need for their effective application in the processes of socio-economic development of regions. The оbject of the study is the evolution of marketing technologies of marketing territories and directions of their application in the socio-economic development of territories. Research methods include desk research, theoretical generalization, system analysis, synthesis, abstract-logical, visualization of results. The research hypothesis was formed based on the importance of territorial marketing, its traditional and innovative marketing technologies (MarTech) for the formation and implementation of strategies for socio-economic development of territories; confirmation of constant renewal and transformation of marketing technologies under the influence of new trends, new means of communication, new consumer culture, new generations of consumers. Presenting main material. The authors justified the definition of marketing technology in the marketing of territories as a set of methods, processes, marketing tools, knowledge, methods, methods, procedures for making and implementing marketing decisions regarding the definition and creation of new values aimed at the formation, support and development of long-term mutually beneficial partnership relations between local self-government bodies and target audiences. It is emphasized that the use of marketing technologies in territorial and public administration faces problems related to the need for a deeper understanding of the specifics of the use of marketing tools in the public sector and local self-government. The article identifies certain key factors contributing to the effective use of marketing technologies to increase the attractiveness of regions for various target audiences. Originality and practical significance. Special attention is paid to the historical evolution of marketing technologies and their transition from traditional methods to modern digital solutions. It is emphasized that the evolution of marketing technologies reflects the general technological progress of society, allowing specialists to constantly improve the efficiency of their activities and interact more deeply with the target audience. The article collects and systematizes recommendations that can serve as a basis for further strategic decisions in the development and management of territorial resources. Conclusions and prospects for further research. Differences in terminological approaches to the definition of marketing technologies testify to their versatility and variety of applications. This requires researchers and practitioners to have a deeper understanding of the directions of integration of marketing technologies into regional development strategies and programs. The use of traditional and innovative marketing technologies allows digital or physical marketing teams of local governments to solve marketing tasks to achieve the goals of socio-economic development. Despite the significant benefits, the application of marketing technologies is accompanied by certain challenges, including compliance with the current marketing concept, further automation and digitalization of marketing, the need for data protection, privacy and risk management. Solving these issues will require additional research and adaptation of marketing innovations to domestic conditions and requirements of the digital and creative economy.

НАПРЯМИ ОНОВЛЕННЯ ІНСТРУМЕНТІВ МАРКЕТИНГУ РЕСТОРАННИХ ЗАКЛАДІВ З УРАХУВАННЯМ СВІТОВИХ ТА НАЦІОНАЛЬНИХ ТЕНДЕНЦІЙ РОЗВИТКУ

The influence of macroeconomic factors such as war, labor shortages, inflation, rising energy prices and shortages, and work schedule restrictions, coupled with high competition in the restaurant market, declining revenues due to customer redistribution, and the need to follow global gastronomic trends, present challenges for all market participants. These factors require them to quickly adapt their marketing tools to changes in the marketing environment. The purpose of this article is to explore the features of restaurant marketing in terms of developing its tools and technologies in line with current market trends and the development tendencies of the national and global restaurant business. The object of the study is the marketing activities and tools used by restaurant establishments. Methods employed in the research include desk analysis and case study methods, as well as methods of analysis, synthesis, logical generalization, and the generalization of national and global experiences. The research hypothesis suggests that domestic restaurant establishments must update their marketing tools due to the significant impact of global trends in gastronomy, technology, and consumer behavior on the Ukrainian restaurant market. Main Content. The marketing activities of restaurant establishments are aimed at creating unique offerings, expanding the formats of establishments, enhancing the prestige of personnel, and developing customer experience. Special attention is given to branding, the role of the chef, new formats of establishments, and their concepts, which define competitiveness and demonstrate the potential for meeting the growing needs of modern consumers. The authors analyze the impact of marketing strategies on customer retention, emphasizing the importance of focusing on consumer value and maintaining continuous feedback with clients. The article also highlights that modern restaurateurs must adapt to digital marketing tools, social and ethical marketing, and new concepts that form a unique restaurant product. The authors note the integration of the Ukrainian restaurant market with global gastronomic trends, while stressing the importance of considering national peculiarities. Popular concepts, such as eco-responsibility, healthy eating, plant-based food, local and organic products, new customer interaction methods, innovative service formats, and others, are discussed. Originality and Practical Significance of the Study. Through a detailed analysis of current trends and the specifics of restaurant marketing, the article offers practical recommendations for restaurateurs on adapting marketing tools to a changing market environment. Conclusions and further research.. The marketing activities of restaurant establishments should focus on social-ethical and partnership concepts, which will help build long-term, mutually beneficial relationships with customers and partners, foster trust-based loyalty, and ensure stable growth in the post-war period. Given changes in consumer preferences, the importance of sustainable development, and social responsibility, it is advisable for restaurants to adapt their strategies to meet new customer expectations. The development of innovative marketing strategies and the implementation of new marketing tools are critical for building long-term relationships between restaurant establishments and their clients and partners in a rapidly changing market environment, high competition, and social uncertainty. The findings of this study may serve as a basis for future academic developments in marketing and management practices in the restaurant business.

The Influence of Market Orientation on Marketing Performance of Small and Medium Enterprises in Lamongan District

This research aims to analyze the influence of market orientation on innovation capability and marketing performance, as well as examine the mediating role of innovation capability in the relationship between market orientation and marketing performance. The results of this quantitative research show that market orientation contributes to marketing performance and the formation of innovation capabilities, and that innovation capabilities of SMEs are reflected in attractive and safe products. This research contributes to an understanding the dynamics of market orientation, innovation, and marketing performance in SMEs in the context of Lamongan Regency. Managerial implications and policy recommendations are outlined based on research findings, with the hope of providing guidance for SMEs and related parties on improving marketing performance. These findings support the theory that market orientation can improve marketing performance with innovation capabilities. The practical implication of this research is that SMEs can strengthen their market orientation to increase product innovation. Keywords: market orientation, innovation capability, marketing performance

Resilience and Sustainability of Muslim Entrepreneurs of Gen Z In Era 5.0: A Conceptual Approach

This study investigates how digital innovation and green marketing contribute to the resilience and sustainability of Muslim Generation Z entrepreneurship. Gen Z, known for its strong affinity for technology, utilizes digital platforms such as social media and e-commerce to develop businesses with relatively low capital, making it an ideal environment for entrepreneurial growth. For Muslim Gen Z entrepreneurs, integrating Islamic values like honesty, social responsibility, and business ethics into their ventures is essential for business practices. The study aims to explore the impact of digital entrepreneurship and green marketing on the resilience of Muslim Gen Z entrepreneurs and identify the factors influencing their sustainability. The research employs a conceptual approach, analyzing secondary data and existing literature on digital entrepreneurship, green marketing, and Islamic business ethics. Findings indicate that leveraging digital technology enhances the ability of Muslim Gen Z entrepreneurs to adapt to market changes, increase competitiveness, and operate sustainably. Green marketing, in particular, aligns with Islamic principles of environmental responsibility, attracting environmentally conscious consumers and building stronger brand loyalty. This study highlights how these entrepreneurs can integrate ethical practices with innovative strategies to build resilient and sustainable businesses in the digital era. The research underscores the need for further empirical studies to examine the practical application of Islamic values and digital innovation across various regions and how these factors interact with local entrepreneurial ecosystems.

Market Demand, Policy Environment, and Future Trends: Analysis of New Energy Vehicle Industry in China

Under the complex and ever-changing global economic situation, the sales of new energy vehicles in China are facing many development opportunities and practical challenges. Market demand and policy environment impact the development of China's new energy vehicle industry. This research takes the new energy vehicle industry in China as the research object, adopts a combination of literature review and case analysis methods by combing and analyzing relevant literature, combined with practical cases, deeply discusses the development status and problems of China's new energy vehicle industry, and proposes improvement suggestions from two dimensions: market demand and policy environment. Research shows that insufficient market demand, insufficient technological innovation, and an unstable policy environment are the main factors that restrict industrial development. To solve these problems, measures need to be taken, such as increasing government support, enhancing technological innovation capabilities, and promoting reforms and innovations in marketing and other aspects, aiming to inspire China's new energy vehicle industry to go global.

The Art of Digital Marketing

The digital revolution has fundamentally reshaped the business landscape, particularly in marketing. This article explores the rise of "cyber consumers" and their evolving needs, along with the increasing significance of cyber business-to-business interactions. It emphasizes the need for innovative marketing strategies to cater to these transformed dynamics.

Physical, textural, and sensory characteristics of gluten-free cupcakes developed with native and modified by hydrothermal treatment green plantain flours.

Gluten-free diets are characterized by lower nutritional quality. The use of green plantain flour in gluten-free formulations appears as an alternative to overcome this deficiency, considering that green plantains have a relevant content of bioactive compounds, dietary fiber, including resistant starch. The objective of this work was to evaluate the effect of the addition of native and modified by hydrothermal treatment green plantain whole flours in the form of gluten-free cupcakes. The density, yield, and microstructure of the dough, specific volume (SV), height, crumb analysis, color, texture, and sensory acceptability of the cupcakes were evaluated. Partial replacement (40%) of rice flour by native and modified flours produced darker, redder cupcakes, less yellowish and with less color intensity. Sensory analysis revealed higher acceptance for cupcakes with native and modified flours, compared to the control, for appearance, flavor, texture, aroma, and overall acceptance. The native flour was the most viable option, as the cupcake produced with it showed the best values for hardness and chewiness, without changing elasticity and SV, in addition to superior sensory acceptance than the control and similar to cupcakes with other modified flours. PRACTICAL APPLICATION: Pursuing to meet the market demand for gluten-free products, with the cake being one of the most requested products in this market, and taking in account that green banana, from different cultivars, has gained interest for the production of flours. The production of flour and bakery products is of great interest to the food industry, not only because of its flavor and properties but also due to the economic and sustainable viability of producing whole green plantain flour with the potential for application, promoting diversification and innovation in the gluten-free functional products market.

Technology innovation to improve SMEs sustainability

Purpose This study aims to analyze the determinants of small and medium enterprise (SME) sustainability through online marketing technology innovation. Design/methodology/approach The study was conducted through a survey in Siak Regency and Dumai City, Riau Province, Indonesia. The study population is small entrepreneurs doing online marketing. The determination of this survey area is by considering: the use of online marketing technology in this area is relatively more developed than other regions; Siak Regency and Dumai City are very prospective to be used as small business development areas based on online marketing; and the sample was determined by purposive random sampling with the criteria of small entrepreneurs who have tried to do online marketing for at least six months. Based on these criteria, there are 301 small entrepreneurs who conduct online marketing as a sample. Findings The sustainability of SMEs is directly and indirectly influenced by government support, human resource quality, innovation costs, economic conditions and business partners through online marketing technology innovations. Online marketing strategy through targeting, segmentation and positioning marketing strategies. Implementation of online marketing technology innovation models: increased government support; improvement of human resources; provision of innovation cost allocation; government policies in maintaining economic stability; and increase in business partners. Research limitations/implications Limited access to data can limit the interpretation of correlations between the variables studied. This limitation is because the available data is limited to certain periods and certain geographical regions. In addition, research time constraints limit the ability to conduct more in-depth interviews and obtain additional data relevant to the topic being studied. Practical implications Practical implications: 1) Targeting marketing strategy is a staged strategy to select a target market. The target market for SME products is intermediary consumers (agents) and end consumers; 2) Segmenting marketing strategy is a stage strategy to determine market segments. The market segment of SME products is based on consumer characteristics, namely, the local market and markets outside the region. SME product market segments based on consumer response characteristics, namely, market segments based on product benefits and consumer loyalty; 3) Positioning marketing strategy is a strategy for the development stage of each product detail placement and the development of a 4P mix strategy, namely, product, price, place and promotion. Social implications The implementation of this research policy is: increased government support in facilitating online marketing; increased human resources in online marketing; provision of cost allocation of innovation in online marketing; government policy in maintaining economic stability; and increased business partners in online marketing. Model implementation requires mentoring and training through cooperation with business partners. Originality/value The sustainability of SMEs requires online marketing technology innovation. These findings can help provide an alternative solution to the weak resources of SMEs. With the discovery of the determining factor for the sustainability of SMEs, it can accelerate the SME digitalization program.

Modernizing Medical Device Regulation: Challenges and Opportunities for the 510(k) Clearance Process.

Nearly all medical devices reviewed by the U.S. Food and Drug Administration (FDA) are authorized via the 510(k) clearance process. Established in 1976, this review pathway bases authorizations on the comparability of new devices to previously authorized devices ("predicates"). This evaluation usually does not require clinical evidence of safety and effectiveness. Advocates of the 510(k) clearance process tout its support for device innovation and rapid market access, and critics of the 510(k) clearance process express that it may inadequately protect patient safety. In September 2023, the FDA issued 3 guidance documents that, if finalized, would significantly change medical device regulation. This article provides clinical and regulatory context for the proposed guidance documents, which focus on predicate selection, clinical testing requirements, and implantable devices, and identifies opportunities for further reforms that promote transparency and patient safety.

Consumers’ willingness to pay for alternative protein food products: taste preference, health, and environmental concerns

ABSTRACT This study investigates consumers’ preferences and willingness to pay (WTP) for traditional animal meat, plant-based meat, and cell-cultured meat products, specifically focusing on beef, chicken, and pork categories. The experiment involves presenting participants with various meat options, along with the presence or absence of carbon footprint or low-salt labels. The findings reveal that consumers exhibit a lower WTP for plant-based and cell-cultured meat compared to traditional animal meat across all three categories (beef, chicken, and pork). Moreover, both carbon footprint and low-salt labels significantly increase consumers’ WTP. The choices made by consumers are influenced by attribute preferences and product-related concerns. Specifically, taste preference significantly impacts consumers’ preference for animal meat over cell-cultured meat in the beef, chicken, and pork categories; however, this effect is not significant for plant-based meat. Consumers who prioritize health concerns tend to choose plant-based beef and chicken over traditional options. Environmental concerns play a crucial role in pork choices, leading to a decrease in the selection of animal pork and an increase in the preference for cell-cultured pork. These findings offer valuable insights for industry stakeholders seeking to advance protein biotechnology and drive innovation in the food market.