Market Phenomena Research Articles

Gateways to the Internet Ecosystem – Enabling and Discovery Tools in the Age of Global Online Platforms

The Google Shopping case has provided significant lessons that reach beyond antitrust enforcement. ‘Enabling and discovery tools’ create a layer that serves as a gateway to the Internet ecosystem. Therefore, on the one hand, they play a key role in ensuring the openness of the Internet ecosystem, and on the other hand, they exercise a primary influence on consumer experiences and their cognitive processes, which in turn determine online consumer transactions. Enabling and discovery tools, such as adopting design methods based on applied behavioural sciences (for example: user experience design (UX) and user interface design (UI)), create global challenges at the crossroads of antitrust, consumer law and platform regulation. At the same time, in light of the complexity of the platform economy, some market phenomena might be particularly difficult to identify and address, while fast and efficient adaptation is an essential factor for market players. This brings advocacy – the promotion of a competitive environment – into the focus also at the national level, particularly where a dual enforcement regime makes a multifocal approach possible.

공공재개발사업 활성화를 위한 제도개선 방안 연구

In the last Government’s 5.6 Real Estate Measures, “Public Redevelopment Project in which the Public(LH) Participates” targeting Redevelopment Project Ares that had been stagnant for a long time. was introduced in order to relive the overheating phenomenon of the nationwide housing market including the metropolitan area. Especially, the government revised “the Act on the Improvement of Urban Areas and Residential Environments” in order to supply enough housing in the city-center and to improve the residential environment of old residential areas through the promotion of the “Public Redevelopment Project.” At the same time, the government has implemented various institutional improvements for promoting housing supply in the inner city. Analysing on the characteristics of these institutional improvements, it is mainly focused on the conditions and support for the project targets and the macroscopic point of view, such as permitting business participation as a joint operator of public enterprise when the requirements of public purpose are met, introducing a defined equity system, supplying cheap housing, and preventing sprawling development. Of course, in the early stages of the policy, it is necessary to strengthen the characteristics as a public purpose and encourage the implementation of the project, as well as strengthen project support by deregulation of constructions. However, in order to revitalize the “Public Redevelopment Project” in consideration of effectiveness and the perspective of the main promoter(residents) in the future, in addition to the “Act on the Improvement of Urban Areas and Residential Environments,” other institutional reforms related to the “Public Redevelopment Project” should be also introduced further.

공공재개발사업 활성화를 위한 제도개선 방안 연구

In the last Government’s 5.6 Real Estate Measures, “Public Redevelopment Project in which the Public(LH) Participates” targeting Redevelopment Project Ares that had been stagnant for a long time. was introduced in order to relive the overheating phenomenon of the nationwide housing market including the metropolitan area. Especially, the government revised “the Act on the Improvement of Urban Areas and Residential Environments” in order to supply enough housing in the city-center and to improve the residential environment of old residential areas through the promotion of the “Public Redevelopment Project.” At the same time, the government has implemented various institutional improvements for promoting housing supply in the inner city. Analysing on the characteristics of these institutional improvements, it is mainly focused on the conditions and support for the project targets and the macroscopic point of view, such as permitting business participation as a joint operator of public enterprise when the requirements of public purpose are met, introducing a defined equity system, supplying cheap housing, and preventing sprawling development. Of course, in the early stages of the policy, it is necessary to strengthen the characteristics as a public purpose and encourage the implementation of the project, as well as strengthen project support by deregulation of constructions. However, in order to revitalize the “Public Redevelopment Project” in consideration of effectiveness and the perspective of the main promoter(residents) in the future, in addition to the “Act on the Improvement of Urban Areas and Residential Environments,” other institutional reforms related to the “Public Redevelopment Project” should be also introduced further.

Reframing Spatialities in Urban Africa. Insights from Onitsha Markets in Nigeria

Onitsha is a city in southeastern Nigeria driven by an urban market phenomenon. It is currently the third largest urban area in Africa, trailing behind Cairo and Lagos, respectively. The constructions of spatialities, and under the notion of terra nullius and extreme otherness in post-colonial Africa, worsened the challenges of rapid and uncontrolled urban growth. The paper provides insights on how the successive political events on the African continent shaped the manifestations of contemporary spatialities and potential pathways to reverse the trend. A review of planning approaches in Nigeria was conducted, starting from colonial cantonments to current epoch of extreme uncertainty, and through the lens of Onitsha markets spatialities. The markets in Onitsha reveal emergent forms of spatialities in response to the extreme otherness and uncertainty in the city. The paper presents arguments on the need to rethink the current architecture, urban design, and planning practices and pedagogies beyond alterity, while embracing the complexity of post-colonial urban Africa. It also provides an opportunity for developing alternative theorizing, tools and frameworks towards equitable and livable urban futures.

Development of a Conceptual Framework for Relationships between Social Media Marketing and Intentions to Stay at Five-Star Hotels

Data shows that social media users continue to increase worldwide, particularly in Indonesia, and the time they spend accessing social media. There are 191.4 million active users of social media in Indonesia. The average time spent accessing social media is 3 hours 17 minutes per day, which is higher than the world average, i.e., 2 hours 27 minutes. Research has been conducted on using social media as a marketing tool in the hotel industry. Still, no study assessed the star hotel consumers'' perceived usefulness and trust of social media marketing activities, including the celebrity effect of endorsers and intention to stay or buy services provided by star hotels (purchase intention). Celebrity endorsers are a new phenomenon in social media marketing. By looking at this phenomenon, this research aims to investigate: (1) the factors that influence the relationship between social media marketing and the intention to stay at the hotel and (2) the social media marketing concept framework that influences hotel stay intentions. This study uses a combination of Sequential Explanatory research methods. In the first stage, quantitative methods were used to draft a Conceptual Framework for the Relationship between Social Media Marketing and Intentions to Stay at Star Hotels. In the second stage, qualitative methods were used to validate the conceptual framework. Findings reveal that all indicators, i.e., advertisements, celebrity effects, customization, e-WOM, entertainment, interaction, trendiness, perceived trust, and perceived usefulness, are relevant and relate to purchase intention to stay in a hotel.

Tourists’ Trust of Social Media Information and Behavioural Intention in Viral Cafes: Mediating Effect of Satisfaction

Social media is now the primary form of communication among tourists and has soared in popularity, which has directly impacted the spread of the phenomenon of viral content marketing. Viral social media content and information functions as a great source of information for tourists as it provides greater reach accessibility and exposure that offline marketing cannot achieve. However, little attention has been given by tourism scholars in assessing the level of trust in social media information and tourists’ satisfaction after visiting viral attractions. This study examines the mediation effect of satisfaction on the relationship between social media information trust and behavioural intention in viral cafés in Ipoh, Perak. The data was obtained from 385 tourists who visited viral cafes in Ipoh and analysed using the SEM-PLS approach. The finding indicates that satisfaction mediates the relationship between social media information trust and behavioural intention. Importantly, social media information trust has a significant relationship with tourists’ behavioural intention with the presence of satisfaction. The study results suggested that destination managers and marketers need to be creative in establishing trustable social media information as trust serves as a highly important aspect in influencing tourists’ behavioural intention and future decision-making.

PELUANG DIGITAL MARKETING DALAM KEBANGKITAN PARIWISATA DI INDONESIA

The purpose of this study is to explore digital marketing opportunities for tourism in Indonesia, which is motivated by the development of tourism in Indonesia, especially the increase in tourist visits and statistics in the digital era. Integrative literature review is the method used in this research and content analysis to review digital marketing and tourism in Indonesia. The findings from this study are that digital media, content, and mobile advertising are one of the trends in digital marketing. Thus, tourism activists in Indonesia have the opportunity to market their products digitally. For further research, you can explore quantitative and qualitative methods about the digital marketing phenomenon in finding tourism in Indonesia. Abroad, they have implemented digital marketing where they have utilized digital media and created creative content to manage the digitization of marketing activities in the tourism sector.

Global Collective Dynamics of Financial Market Efficiency Using Attention Entropy with Hierarchical Clustering

The efficient market hypothesis (EMH) assumes that all available information in an efficient financial market is ideally fully reflected in the price of an asset. However, whether the reality that asset prices are not informational efficient is an opportunity for profit or a systemic risk of the financial system that needs to be corrected is still a ubiquitous concept, so many economic participants and research scholars have conducted related studies in order to understand the phenomenon of the financial market. This research employed attention entropy of the log-returns of 27 global assets to analyze the time-varying informational efficiency. International markets could be classified hierarchically into groups with similar long-term efficiency trends; however, at the same time, the ranks and clusters were found to remain stable only for a short period of time in terms of short-term efficiency. Therefore, a complex network representation analysis was performed to express whether the short-term efficiency patterns have interacted with each other over time as a coherent picture. It was confirmed that the network of 27 international markets was fully connected, strongly globalized and entangled. In addition, the complex network was composed of two modular structures grouped together with similar efficiency dynamics. As a result, although the informational efficiency of financial markets may be globalized to a high-efficiency state, it shows a collective dynamics pattern in which the global system may fall into risk due to the spread of systemic risk.

Social Media Marketing Strategies Adopted by Fashion Brands

Websites for local social networking provide a means of social interaction. By connecting with consumers on a deeper level, these new mediums gain their trust. If a rival is making waves with its services and products, it is unaffordable to have no presence on social media. International businesses have seen social media as a possible mechanism for promotion and have embraced it to bolster their marketing efforts. Various businesses are integrating social media into their marketing plans to engage with their consumers and prospects. Social media is an emerging phenomenon in company marketing and public relations (PR).Social media can be utilised for a range of marketing and communication tasks, including customer management, public relations, sentiment analysis, marketing communications, and marketing intelligence. This study report aims to assess social media's suitability for business marketing and PR initiative.

모멘텀 이상 현상에 대한 합리적 기대와 차익거래 제한요인 관점에서의 재해석

This study examines whether the momentum phenomenon of the Korean stock market since the Asian financial crisis in the 90s can be explained by risk-based hypothesis or it is due to the delayed response induced by limit-to-arbitrage. The zero investment portfolios following Jegadeesh & Titman (1993) tradition do not enjoy the positive excess return after adjusting the risk factors from Fama-French (1993) methodologies. Furthermore there is no evidence that shows the momentum effect stems from the delayed response caused by market frictions. Limit-to-arbitrage proxy variables such as idiosyncratic volatilities, trading volume, illiquidity, recent price, number of zero daily returns, number of analysts following, cash flow volatility do not show any relationships with the momentum effect. Interestingly, the momentum effect is much more strongly pronounced for the stocks with high foreign investor ownership rate. If it is allowed to interpret the foreign investors are relatively more keen and rational to market information in the investment procedures compared to individual investors, this finding resonates with the previous rational expectation based explanations and the fact that the momentum strategies tend to show negative returns prior to 2000 when foreign investors ownership in the Korean stock market is institutionally-limited.

How and when brand coolness transforms product quality judgments into positive word of mouth and intentions to buy/use

ABSTRACT Brand coolness is a relatively understudied but important marketing phenomenon that only recently has received systematic scrutiny. We investigate a multidimensional structure of brand coolness and show how it mediates the effects of product quality on word of mouth communication and on intentions to buy/use cool brands. We also demonstrate under what conditions brand coolness influences WOM and intentions. The self-concept, rooted in materialism and expressed as the desire to impress other people and to compare oneself to others so as to emulate them, serves to regulate the effects of brand coolness in a negative way on WOM and intentions, thereby fulfilling the autonomous function of brand coolness for consumers described in the past as one important aspect of brand coolness. In order to show the incremental contribution of brand coolness in predicting WOM and decisions to buy/use cool brands, the effects of brand coolness are tested in head-to-head comparisons with the influence of self-brand connections and attitudes toward cool brands, which are classically studied brand drivers, on a representative sample of 400 adult Americans aged 20–40 years inclusive.

Meeting the Challenges of Safety Management in Wind Energy Industry

Abstract: Countries promoting renewable energies encounter a variety of phenomena that can challenge the implementation of further onshore wind energy development. Those challenges can be observed in many multi-level governance systems, as exhibited in the U.S., Germany, and Mexico, where various regulatory and institutional levels must agree on goals and responsibilities. (1) Political and market phenomena, (2) siting issues, (3) the green vs. green dilemma, and (4) social acceptance are selected challenges within the different levels of decision-making processes in wind energy implementation. In this paper these challenges can enhance outlooks in policy and planning, posing solutions to wind energy challenges even in sensitive environments and triggering innovations such as adaptive management. Keywords: Governance, Renewable Energies, Wind Energy, Triggering.4

Understanding flooding events in Ghana: a social marketing and self-determination theory perspective

PurposeThe purpose of this study is to deepen the understanding of individuals’ flood disaster mitigation behaviour through the theoretical lens of self-determination theory (SDT). Specifically, the paper examines the influence of autonomy, competence and relatedness on individuals’ self-determined motivation for flood disaster mitigation. The study also examines whether self-determined motivation influences individuals’ flood disaster mitigation behaviour adoption.Design/methodology/approachThrough a cross-sectional survey design, the study used a quantitative research approach for data collection and analyses. Specifically, data was analysed using the structural equation modelling technique.FindingsThe result of this study revealed that competence was the strongest predictor of self-determined motivation, followed by autonomy. The result further shows that self-determined motivation positively influences individual’s adoption of flood mitigation behaviour. However, the results showed that relatedness does not predict self-determined motivation for flood disaster mitigation.Practical implicationsTo enhance the effectiveness of flood disaster mitigation social marketing campaigns, the SDT psychological needs constructs (particularly, competence and autonomy) can aid in assessing the motivation of the target population towards adopting mitigation behaviours. An assessment of motivation will help understand perception of flood risk and behavioural evaluation. The consideration of autonomy and competence on motivation will aid in developing effective campaigns to satisfy the needs of the target population.Originality/valueThe paper adds to the limited research that used SDT to understand a social marketing phenomenon.

Customer Satisfaction: A Central Phenomenon in Digital Marketing J&T Express

The decrease in the number of JT express users for 2017-2020 is a serious problem because consumers choose to use other expeditions.This study aims to determine the effect of service quality, delivery rates, timeliness on customer satisfaction JT Express Students of the Faculty of Economics and Business, PGRI University Semarang. In this study, students of the Faculty of Economics and Business, PGRI University Semarang in the 2017,2018,2019 class with a total of 256 respondents. The process of collecting data by distributing questionnaires through the Google Form for Students of the Faculty of Economics and Business, Universitas PGRI Semarang in the 20172018,2019 class. This study uses Multiple Linear Test with IBM SPSS 22. The results of this study indicate a positive and significant effect between service quality, shipping rates on customer satisfaction JT Express Students of the Faculty of Economics and Business, PGRI University Semarang. Punctuality has no effect on customer satisfaction JT Express Students of the Faculty of Economics and Business, PGRI University Semarang. Quality of service, delivery rates and timeliness there are variables that must be considered, namely related to timeliness because service quality and delivery rates affect customer satisfaction

Discussion of “From experiment to the field: The case of a price formation model based on laboratory findings”

Xin (2022) proposes a new approach that builds a model based on insights from laboratory findings. The model can uncover the process through which individual investor behavior drives macro-level stock market phenomena. This short discussion notes that the approach advocated by Xin (2022) allows us to easily extend the model and to incorporate other behavioral assumptions based on lab findings to understand empirical regularities that were documented in prior accounting studies.

Online Marketing Trends With a Local Wisdom Perspective in Indonesia

In the last five years, online marketing has become increasingly popular among the general public. This is due to advancements in communication technology, such as internet networks, as well as the availability of smart phones, which provide consumers with a variety of benefits. Furthermore, the COVID-19 pandemic made the online marketing business more fertile and diverse. Online marketing has been used by everyone from housewives to teenagers to small, medium, and large businesses. Local wisdom has supported the conditions that have developed in the field of online marketing, because the community has introduced potential abilities and interests, and has indirectly presented the characteristics of the existing regional elements where they run their business. This has been the case for those based on small household industries, large home industries, and home industries with pre-existing business names such as CV and PT. The Islamic economic perspective on the online marketing phenomenon, and which indicators should be used, need to be examined more carefully and comprehensively.
 Keywords: online marketing, local wisdom, Islamic economic perspective

Virtual Influencers : Is The Persona Trustworthy?

In today's digital world, people are using social media at a higher rate than ever before. One digital marketing phenomenon is the use of services from a virtual influencer. Virtual influencers are computer-generated models who are becoming increasingly famous on social media. The purpose of the study is to identify and analyze the communication way of virtual influencers in the digital marketing era. The current study uses a literature review method that searches article titles and abstracts in electronic databases (Scopus and Google Scholar) for studies published between 2018-2022 using keywords. The importance of this research is due to the phenomenon and data literature on lifestyle, interaction patterns, and most of the media production from conventional to digital which has a significant impact on the development of the digital world. The results show the perspective of digital experts on the efficacy and trustworthiness of the use of virtual influencers as a marketing strategy is capable of promoting businesses. Virtual characters can give a new color and dimension to the global marketing world and will be widely used in various industries such as fashion, music, games, films, marketing, education, and politics.

Sustainable customer retention through social media marketing activities using hybrid SEM-neural network approach.

Social media has changed the marketing phenomenon, as firms use social media to inform, impress, and retain the existing consumers. Social media marketing empowers business firms to generate perceived brand equity activities and build the notion among consumers to continue using the firms’ products and services. The current exploratory study aimed to examine the effects of social media marketing activities on brand equity (brand awareness and brand image) and repurchase intention of high-tech products among Chinese consumers. The study used a cross-sectional design, and the final analysis was performed on 477 valid responses that were collected through an online survey. Partial least squares structural equation modelling (PLS-SEM) and artificial neural network (ANN) analysis were performed. The obtained results revealed positive and significant effects of trendiness, interaction, and word of mouth on brand awareness. Customisation, trendiness, interaction, and word of mouth were found to positively affect brand image. Brand awareness and brand image were found to affect repurchase intention. The results of multilayer ANN analysis suggested trendiness as the most notable factor in developing brand awareness and brand image. Brand awareness was found to be an influential factor that nurtures repurchase intention. The study’s results confirmed the relevance of social media marketing activities in predicting brand equity and brand loyalty by repurchase intention. Marketing professionals need to concentrate on entertainment and customisation aspects of social media marketing that can help to achieve brand awareness and image. The limitations of study and future research opportunities are presented at the end of this article.

VR in Tourism: A New Call for Virtual Tourism Experience amid and after the COVID-19 Pandemic

Virtual reality has become a more common phenomenon in both destination marketing and on-site experience. The recent challenges such as overtourism and the COVID-19 pandemic have created a pressing need to examine virtual tourism as an alternative to traditional travel. This conceptual article aims at clarifying virtual experience in tourism, discussing the main antecedents and outcomes of virtual experience, and proposing a conceptual model of virtual tourism experience. The review of the literature revealed that virtual experience in tourism is influenced by factors related to information, quality, technology acceptance, and affective involvement and has significant effects on tourists’ attitudes and behavioral intentions. This paper contributes to knowledge and practice by classifying the main groups of factors influencing virtual tourism experience, introducing the conceptual model, discussing opportunities for future research, and providing recommendations for tourism practitioners.

The omnichannel continuum: Integrating online and offline channels along the customer journey

This paper provides a framework for conceptualizing omnichannel integration as a continuum, identifies phenomena that determine how firms should position along that continuum, and summarizes empirical research regarding these phenomena. The framework combines the customer journey (search to purchase to aftersales) and channel choice (online vs. offline). This generates a range of omnichannel strategies, anchored by “Unconnected” on one extreme and “Complete” on the other. In between, “Vertical” strategies integrate channels over the customer journey, while “Horizontal” strategies integrate across channels at a given stage in the customer journey. We draw on more than 200 articles to identify 10 consumer and marketing phenomena (“determinants”) that influence where a firm should position along the continuum. This however raises challenges. For example, empirical research surprisingly finds many customers belong to an offline-focused segment. This suggests a Vertical strategy linking offline channels. However, today's turbulent retail environment questions whether the offline-focused segment will endure. Should the retailer cater to offline-focused customers or facilitate their progression to “multichannelism”? Another finding is that consumers strongly prefer consistency across channels. This suggests a Horizontal strategy. However, consistency might create channel cannibalization. How can the retailer avoid this? We discuss these and several other findings regarding the impact of the 10 determinants on omnichannel continuum strategy. We identify issues researchers need to research and managers need to consider when developing omnichannel continuum strategy.