Market Theory Research Articles

Bank-Customer Relationship and Performance of Selected DMBs in Imo State, Nigeria

The concern of this study was to empirically investigate the relationship between bank -customer relationship marketing and performance of selected money deposit banks in Imo State, Nigeria. Emphasis was on determining the extent to which relationship identification, establishment, maintenance, enhancement, modification and termination have impacted on deposit money banks returns on equity and assets in Nigeria while adopting stakeholders’ theory of relationship marketing. Data for the study were primarily sourced using structured research questionnaires. These generated data were quantified using 5-point likert scale of strongly agreed, agreed, neutral, disagreed and strongly disagreed. These generated data were analyzed using Ordinary Least Square (OLS) multiple regression technique. The analyses covered demographic analysis, descriptive analysis, correlation analysis, regression analysis, F-test, t-test, R2 -test and diagnostic tests. SPSS statistical software was used to carry out these analyses. Specifically, results from these robust analyses revealed that identification, establishment, maintenance, enhancement, modification and termination of bank-customer relationship have positive and significant impacts on deposit money banks’ return on equity (ROE); relationship identification, establishment, maintenance and modification also have positive significant effects on return on assets (ROA) of deposit money banks in Nigeria; relationship enhancement has a negative insignificant impact on the ROA of deposit money banks in the country; the impact of relationship termination is positive but insignificant; and these measures of identification, establishment, maintenance, enhancement, modification and termination have joint significant impacts of 93.4% and 79.1% on ROE and ROA of deposit money banks in Nigeria. Hence, there is need for high level of professionalism in the recruitment process of bank staff in this part of the world, as the corner

Can residents engage potential tourists as ‘micro’ and ‘nano’ influencers?

ABSTRACT Social media has revolutionized the tourism industry by making residents more active co-creators in destination information dissemination. This study explores whether recognizing social media influencers as residents can increase place identification and boost host–guest relationships. We assess a conceptual model that postulates relationships between self–influencer congruence, identification with a place, emotional solidarity with residents, place knowledge, and visit intention. Data were collected online from 996 Chinese TikTok users who follow ‘micro’ or ‘nano’ influencers. The results reveal that perceived congruence between a follower’s ideal self and an influencer’s personal image can lead to a sense of identification with the influencer’s residential place and emotional solidarity with residents, thereby contributing to visit intention. Further, multi-group analysis confirmed the moderating role of place knowledge. This study has important implications for tourism marketing theories and practices.

Toward an Attitude-Based Path to Co-creation: Exploring Customer Engagement in New Product Development

We propose and evaluate a conceptual model explaining how customer engagement and customer-to-customer virtual interactions lead to the intention to co-create in new product development. Based on the theory of trying, the model adds the mechanism of attitudes toward success, failure, and the process to the customer engagement—intention to co-create relationship. The results from two culturally distant regions, represented by the United States and Brazil, partially support the model and demonstrate the moderating impact of trust on the customer engagement—attitudes relationships. Surprisingly, few differences emerged between the two countries. An exception being the relationship between customer engagement and intention to co-create through attitude toward the process was stronger in the United States than Brazil. Implications for global marketing theory and practice are discussed.

4C Marketing Theory from the Perspective of Horticultural Industry Marketing Strategy Analysis

The purpose of this paper is to analyze the market strategy of landscape industry in China. On this basis, by using the methods of literature, case analysis and questionnaire survey, this paper discusses the market strategy that should be adopted by the landscape industry in China, in order to provide some reference for the development of the landscape industry in China. In recent years, with the continuous development of the global economy, the level of science and technology is also constantly improving. People are increasingly pursuing a high quality of life. However, with the rapid development of The Times, human beings' requirements for ecological environment are increasing day by day. Therefore, the whole world is exploring how to improve the level of ecological security in our country. Landscape industry is the basis of human survival and development, but also the basis of human survival and development. Due to historical, cultural, economic and other factors, today's market conditions around the world are not the same, but they have their own unique advantages. Through literature research on the origin and development history of the horticulture industry, this paper finds that the horticulture industry is closely related to the development of human society and is closely related to the world's economy, culture, history, art and customs. Today, when the global ecological environment urgently needs to be improved, the landscape industry has been paid more and more attention worldwide. At present, the world has begun to pay attention to the benefits of landscaping on the human body, and carried out a variety of research on landscaping treatment, after the epidemic was raging around the world in 2020, people's yearning for natural life has become stronger. With the development of scientific research, people have attached importance to the beautification and healing effect of horticulture, The attention to ecological environment is the inevitable trend of the development of human society. In the garden, he also became more sophisticated. It is no longer just a natural exploration, but a government-led national architecture strategy, as well as an industry dominated by the elite, its emergence and popularity, so that more home garden fans can enjoy the beauty of nature to bring them. In this context, with the wide spread of the concept of "home garden", the development of Chinese landscape architecture has entered a new stage. Therefore, for the development prospects of the landscape industry, how to use market strategies to promote the development of the landscape industry and improve the influence of the industry, especially for the development of the landscape industry, has positive significance for the development of the landscape industry. By means of questionnaire survey, this paper studies the influencing factors of consumers' purchasing behavior of garden commodities, and integrates with the 4C market theory. Taking Hongyue Garden as an example, this paper conducts an empirical study on the company's market strategy, finds out the advantages and disadvantages of the company in the market, and hopes to bring some references to other garden companies. So as to better promote the development of the landscape industry.

MARKETING OF THE HUMAN POTENTIAL OF PEOPLE WITH SPECIAL NEEDS

The article describes the evolution of the concept of "employees", "labor resources", "personnel", "human capital", "human potential" in economic schools. The similarities and differences between the currently marginal concepts of "human capital" and "human potential" are defined, and the elements that distinguish them are clearly presented. It was determined that "human capital" is a collection of people of working age who form social utility (quantitative unit of work and utility). And "human potential" is a set of human knowledge, skills, qualities, professionalism, the level of professional adaptation and intellectual abilities, which form directions for achieving set economic and social goals (a qualitative unit of work and utility). From this definition follows the formation of a new paradigm of relation to a person who, regardless of his physical condition, limitations or fitness, is a carrier of potential that can play a positive and important role in the development of a micro- or macro-unit of business, company, region, country as a whole. Therefore, people with limited opportunities or special needs, with disabilities are considered as a potential that is socially useful for the country. In this context, the concept of human-oriented professional marketing is highlighted, which should integrate the degree, type and group of disabilities of persons, determine their potential on the labor market and offer professions and workplaces with a division into workers with intellectual disabilities and workers with disorders and dysfunctions of various kinds. The formation of marketing, which is oriented to the person in general and to the person with special needs, was not on the agenda until now in any economic or socially oriented economic school. Therefore, this issue is relevant and appropriate for study. A new theory of human potential marketing should be built on this, which should use all people of working age to create a social product. Methodologically, the topic was covered using the methods of analysis and synthesis of various fields: historiography, marketing, psychology, sociology, comparison, assumptions, modeling.

Issues and Strategies for the Dispatching and Trading of the Three Gorges Large Hydropower System

China’s electricity market reform has posed a real challenge to the large-scale hydropower system. Taking the world’s largest watershed hydropower system, the Three Gorges large hydropower system (TGLHS), as the engineering background, this study analyzes the issues and strategies of dispatching and trading in the electricity market. The analysis indicates that the TGLHS exhibits unique difficulties because of transprovincial and transregional power transmission. Major issues including the multi-dimensional and multi-time-scale nested allocation of hydropower energy, the bidding and performance of cascaded hydropower plants in multiple electricity markets, as well as multiple uncertainties in the runoff; electricity prices in multiple markets are also elaborated upon. The corresponding suggested strategies are proposed to cope with the aforementioned issues: (1) for multi-dimensional and multi-scale nested allocation problems, it is necessary to comprehensively consider monthly market transactions and priority generation plans, and establish a profit maximization model; (2) propose a bidding decision-making linkage and segmented bidding optimization model for cascades upstream and downstream hydropower stations; (3) construct a model for decomposing the annual and monthly planned electricity consumption curves and developing operational plans for giant cascade power stations that are suitable for cross-provincial and cross-regional power transmission and transformation; (4) a runoff, electricity price, and market distribution model has been proposed, laying the foundation for further research on multi-scale optimization models for hydropower. Finally, prospects for research on the participation of large-scale hydropower systems in the electricity market are summarized, expecting to promote the marketization of large cascaded hydropower systems. The dispatching and trading of the TGLHS implies that it is important and necessary to explore market theories and methods considering hydropower characteristics and operation needs.

The Analysis of Marketing Strategy of Short Video Platforms---- Taking Douyin as Example

With the advent of the new media era, short videos are becoming more and more influential to people and the short video industry is growing, of which Douyin is one of the representative platforms. In this paper, Douyin is taken as the representative of short video platform and analyse the marketing strategy of short video platform by describing the strategy, explaining the theory and listing the brand cases for the three marketing strategies of brand positioning, content production and traffic acquisition. Based on some novel marketing theories such as the 4V marketing theory, the meaning and purpose of marketing strategies on short video platforms will also be explored.

The Guiding Significance of Olympic Marketing on China's Sports Industry Business Promotion: What are the Enlightenment and Lessons from Historic Cases?

This article delves into the significance of Olympic marketing in advancing the Olympic movement and examines the challenges and prospects for the Chinese sports industry to employ cooperative marketing and promotion campaigns to bolster its national economy. The piece derives insights and tactics from the lessons and stratagems of prior Olympic events and sets forth strategic recommendations for Chinese stakeholders to participate in and collaboratively cultivate the sports economy. It underscores the paramount of relationship marketing, continual advancement, methodical marketing planning, and comprehension of the implications associated with Olympic marketing. Moreover, the article contemplates the relevance of service-dominant logic and social identity theory in sports marketing. Nevertheless, it also broaches apprehensions regarding the commercialization of the Olympic Games and the prioritization of financial gain over athlete welfare. Finally, the article advocates for a strategic blueprint to elevate China's sports industry by merging it with other sectors, advocating for healthy lifestyles, and amplifying domestic demand and consumption, while acknowledging the resource dependence theory and the intense competition among industry contenders.

Research on Pop-up Stores from the Perspective of Visual Marketing

With the acceleration of the pace of life, the attraction of traditional store marketing methods to customers is gradually weakening. Consumers need a new consumption experience model, and the flash business model came into being. This paper mainly refers to the basic theories of flash store and visual marketing when studying the differences between flash store visual marketing and conventional stores, and analyzes the actual performance of flash store visual marketing according to the corresponding brand cases. After the brand positioning is determined, the target customers are also described in detail. Combined with the relevant theories of the flash store, the defects in the design of the brand flash store are solved in practice, and some research results are obtained. This paper hopes to deepen consumers' understanding of flash stores through the study of flash stores, so as to promote the better development of flash stores.

Analysis of Apple's Marketing Strategy Based on 4P Theory

Apple is the world's largest technology company and is an industry leader since the first computer was developed. One of the keys to Apple's success is developing an entire ecosystem that includes IOS. Based on the 4P theory of marketing, this paper analyzes the development strategy of Apple. The purpose of this paper is to discover the development potential and potential problems of the company through the analysis of marketing strategy. Through the method of case study, this paper analyzes the existing problems of Apple in product, price, place and promotion strategies and puts forward suggestions. The results show that creating innovative and high-quality products, providing a unique user experience, and classifying products according to different groups are effective development strategies for Apple Inc. In addition, increasing the number of directly operated stores to improve service quality and controlling the quantity and quality of advertisements are also key factors in Apple's success. Apple's 4P analysis shows that Apple still has opportunities to make progress and needs to improve the details of its future development. Overall, this paper provides valuable insight into the development strategy of one of the world's most successful companies and a useful framework for businesses seeking to achieve similar success.

Korean Wave in Indonesia: Are there any changes in perception and intention to visit Korea?

South Korea has a good image overseas due to the success of its national branding. With the Korean Wave as their national branding, Koreans introduce their country and culture through Korean entertainment. Indonesia is one of the Asian countries exposed to the Korean Wave, especially Korean dramas. This paper aims to analyze the determinants of changes in perceptions and the desire of Indonesians to visit South Korea as a tourist destination. International strategy theory, international marketing theory, and Korean Wave types are analyzed. The research sample consists of 237 randomly selected Korean Wave fans and non-fans. Data were collected using a questionnaire adapted and modified from previous studies. Respondents received questionnaires on-line via Google Forms. Multiple linear regression analysis was used in this study. The findings show that international strategy and marketing can adequately explain changes in the perception and desire of Indonesians to visit South Korea as a tourist destination. The Korean Wave has a positive and significant effect on changes in public perceptions toward Korea. The significant level of 0.000 <0.05 concludes that the four Korean Wave variables (Korean music, food, dramas, and products)simultaneously have a positive effect on changes in the perception of Indonesians people toward South Korea. However, K-pop and K-food were not found to determine the intention to visit South Korea as a tourist destination.

Building an energizing customer bond model in the consumer goods industry: the evidence of sales force-retailer relations in Indonesia

Abstract This study aims to develop a conceptual framework that describes efforts to improve sales force performance using a relevant theoretical approach. The novelty of this study was developed and synthesized from relevant marketing theories. It is a conceptual model construction that proposes Energizing Customer Bond (ECB) as an intervening variable to address the research gap in explaining the influence of relational capital on the performance of salespeople at consumer goods companies. This study involved salespeople at large-scale fast moving consumer goods (FMCG) companies in Indonesia. The acceptance of all of the hypotheses proposed in this study shows the importance of relational capital, ECB, and value-based selling in driving the performance of the sales force. ECB, as a proposed novelty, is also proven as a mediating variable, thus clarifying the relationship between relational capitals in improving sales force performance.

Starbucks’ Global Journey: Internationalization, Challenges, and Brand Positioning

The irreversible trend of globalization has fostered increased cultural exchange and business interactions worldwide, prompting companies to internationalize. Understanding international marketing becomes imperative for marketers. This essay examines Starbucks’ internationalization through the lens of international marketing theory. It analyzes the role of proactive and reactive motives in Starbucks’ global expansion and delves into the significance of physical distance in internationalization decisions. The challenges encountered during Starbucks’ internationalization journey, such as the failure in Australia, underscore the role of adapting to local cultures. The brand positioning of Starbucks as a global brand is explored, encompassing its transnational strategy, customer types, and value creation. By embracing a premium image and addressing quality, global mythology, and social responsibility dimensions, Starbucks successfully appeals to diverse global consumers.

One hundred years of dynamic minimum wage regulation: Lessons from Australia, the United Kingdom and the United States

Since the first minimum wage legislation was introduced in Australia, the United Kingdom and the United States in the early 1900s, minimum wage regulation has attracted controversy. Opponents of minimum wages use market theory to defend their position, while supporters justify state intervention based on principles of equity and social good. This article examines how these two ideological positions have influenced the fixing of wages, and the ensuing results. As little comparative research exists on the origins, evolution and current systems of minimum wage regulation in the three countries, this article aims to address the gap in the literature.

Modern Approaches to Quantitative Assessment of Habit Formation Based on Consumer Demand Research. On the Example of Alejandro Tatsuo Moreno Okuno (2010) Price competition in mixed strategies in markets with habit formation

This article examines the impact of consumer habit formation on the competition of differentiated product firms based on the analysis of the article "Price competition in mixed strategies in markets with habit formation". The work consists of six parts, including consideration of related methodological approaches, the author’s position, the results of the study, as well as ways to expand the author’s model. The distribution of habits for the use of certain products is studied, as well as the characteristics of these habits are studied, taking into account the influence of the psychological aspect on the behavior of an economic agent. This paper considers the "rational maximizer model", models that take into account the influence of social and psychological factors on economic decision-making by agents, models that take into account social welfare and its components, differences in economies in terms of participation in market exchange. The presented study analyzes the linear city model underlying this and other works on this topic. The presented study offers a new look at the phenomena described by other economists and operates not only with theoretical models, but also with digital solutions. Computer technology allows us to model complex economic processes where standard theoretical methods are powerless. However, the weakness of this work lies in the same approach: a large number of prerequisites that do not have a detailed theoretical justification narrow the scope of the research results, thereby leveling their usefulness. The main conclusion is that it is advantageous for firms competing in the habit formation market to differentiate their product as much as possible, taking into account the structure of the consumer’s utility function. The presented research includes the works of the Theory of Consumer Behavior, models of the Theory of Industrial Markets and the Theory of Games.

The international marketing strategy of Korea's Hybe Corporation and its implications to Chinese entertainment companies

With the continuous development of economic globalization, foreign trade has brought unprecedented opportunities, and the exchange and dissemination of different cultures have become increasingly important in international trade. Since the rise of South Korea's entertainment culture in the 1990s, it has taken less than a decade for Korean dramas, fashionable clothing and other popular cultures to become "popular in Asia" and "popular around the world". In recent years, Korea's Hybe Corporation broke the pattern of YG, SM, and JYP which are Korea's three major entertainment companies, jumped to become the fourth largest Korean entertainment company giant. Its strong cultural output has led to the extraordinary influence of Korean pop culture on a global scope. From the perspective of international marketing strategy, this paper introduces the development status of Hybe Corporation through PEST analysis and 4P marketing theory, so as to inspire Chinese entertainment companies to keep pace with the times and promote the export of Chinese culture.

Impact of International Trade on the Share Prices of the Industrial Bank of Korea Using Stochastic Prediction Modeling

Purpose – The share price of any financial institution fluctuates due to various hidden and visible factors. Predicting share price behavior in the economy and financial marketing theory is crucial but complex. The Industrial Bank of Korea’s (IBK) share prices are also affected by hidden factors, including Korean international trade flow. The study aims to forecast hidden impacts on IBK share prices resulting from the international trade flow in Korea. Design/Methodology/Approach – Two Hidden Markov Model (HMM) approaches are employed, one based on exports, and the other on imports, to identify trends and fluctuations in the hidden states influencing visible states. Findings – The findings reveal a significant positive correlation between IBK share prices and both exports and imports. Notably, increasing exports indicate a 50% probability of IBK share prices rising, while falling imports indicate a 56% chance of IBK share prices increasing. These results demonstrate how changes in exports and imports impact IBK’s share price in the Korean stock market. Research Implications – The research implications are valuable for short- and long-term investors in IBK shares and the Korean stock exchange. This research can help decision-makers identify the relationships between and within the visible/observed states that influence the stock price of IBK.

Systematic Risk and Investment Portfolio Performance of Pension Schemes in Kenya

Purpose: Life expectancy in Kenya has increased from 61 to 67 years, while the fertility rate has declined from 4.4 to 3.4 children from 2010 to 2020, implying an increasing number of pensioners at risk of old age poverty if they do not have sufficient pension. The study's general objective was to investigate the effect of systematic risk on the investment portfolio performance of pension schemes in Kenya. The specific objectives were to evaluate the relationship between interest rates, stock market index, inflation rate and economic growth as independent variables and the investment portfolio performance as the dependent variable. The study examined the moderating effect of asset allocation to various asset classes on the relationship between systematic risk and investment portfolio performance of pension schemes.
 Methodology: The study applied Panel data Regression and Maclleland two-step model. It used a census of secondary data on 1,172 pension schemes registered with Retirement Benefits Authority from 2015 to 2021.
 Findings: The R-Squared was 0.5451, meaning systematic risk variables simultaneously explained the investment portfolio performance by 54.51%. All the coefficients for the independent variables were significant at 5% level of significance. The Chi-Square test statistic showed that the moderating effect of asset allocation to Treasury Bills and Bonds quoted equities and immovable properties were not significant at 5% level of significance. Finally, the moderating effect of allocation to guaranteed funds was significant at 10% level of significance. The systematic risk variables are strong predictors of the performance of pension Schemes. Asset allocation to guaranteed funds is a strong moderator. Asset allocation to Treasury Bills and Bonds quoted equities, and immovable property are insignificant moderators.
 Unique Contribution to Theory, Practice and Policy: The study integrated Capital Assets Portfolio Theory, Arbitrage Theory, and Efficient Market Theory with Modern Portfolio Theory to add to existing literature, particularly in emerging markets. Policymakers should consider the effect on pension performance when setting policy rates, inflation targets and asset allocation limits. Pension practitioners should consider allocation to different assets portfolio construction to diversify risk.

Price-based coordination strategy for copper smelting process

Rigorous scheduling that uses hard heuristics and allows forceful shutdown of process units, whether intentionally or unintentionally, in the copper smelting process always harms the process operation. This way of process scheduling often results in sub-optimal process operation. Although a flexible scheduling framework that empowers process units to make independent operational decisions is desirable, the inter-dependencies among these units continue to pose a challenge in its design. This study presents a hierarchical scheduling framework for the copper smelting process, which uses price-based heuristics to resolve process inter-dependencies among the process units. These inter-dependencies arise due to the bottlenecks present in the process. Taking advantage of market theory, the coordinator uses PI controllers to find the appropriate prices to address the inter-dependencies. Two case studies are presented to demonstrate that the proposed framework effectively resolves all the process inter-dependencies, indicating its potential for application in other large-scale scheduling applications.

Study on the Factors Influencing the Enrollment of Nanchang Vocational College under Educational Marketing

Background and Aim: This study aims to analyze the factors affecting the recruitment of students in private colleges and universities based on research data, analyzes the problems of recruitment in private colleges and universities and their causes, and then proposes recruitment management strategies based on educational marketing theory. Materials and Methods: NC Vocational College was selected as an example. A quantitative research approach was adopted to collect and analyze the data. Results: Results show that the former includes students' motivation, family income, and parent's education level, while the latter includes the school's infrastructure conditions, teachers' level, curriculum, and specialties. In addition, according to the actual situation of NC Vocational College, we analyze the disadvantages of its enrollment mode, insufficient quality of enrollment team, false or exaggerated enrollment propaganda, and confused enrollment incentive management and analyze the reasons for the problems of enrollment in private colleges and universities from the aspects of policy, school development mode, school quality, and employment. Lastly, this paper emphasizes that the enrollment work of private colleges and universities is "student-centered", market-oriented, and based on the demand for talents in society, and puts forward specific and constructive countermeasures in the aspects of enrollment organization planning, enrollment work team, enrollment work brand construction and enrollment work layout. Conclusions: It is hoped that this study will help NC Vocational College to optimize its recruitment mode and improve its recruitment management, to enhance the quantity and quality of recruitment, and also provide a reference for the recruitment management of other private universities in China.