Marketing Budget Research Articles

Multiple Benefit Thresholds Problem in Online Social Networks: An Algorithmic Approach

An important problem in the context of viral marketing in social networks is the Influence Threshold (IT) problem, which aims at finding some users (referred to as a seed set) to begin the process of disseminating their product’s information so that the benefit gained exceeds a predetermined threshold. Even though, marketing strategies exhibit different in several realistic scenarios due to market dependence or budget constraints. As a consequence, picking a seed set for a specific threshold is not enough to come up with an effective solution. To address the disadvantages of previous works with a new approach, we study the Multiple Benefit Thresholds (MBT), a generalized version of the IT problem, as a result of this phenomenon. Given a social network that is subjected to information distribution and a set of thresholds, T={T1,T2,…,Tk},Ti>0, the issue aims to seek the seed sets S1,S2,…,Sk with the lowest possible cost so that the benefit achieved from the influence process is at the very least T1,T2,…,Tk, respectively. The main challenges of this problem are a #NP-hard problem and the estimation of the objective function #P-Hard under traditional information propagation models. In addition, adapting the exist algorithms many times to different thresholds can lead to large computational costs. To address the abovementioned challenges, we introduced Efficient Sampling for Selecting Multiple Seed Sets, an efficient technique with theoretical guarantees (ESSM). At the core of our algorithm, we developed a novel algorithmic framework that (1) can use the solution to a smaller threshold to find that of larger ones and (2) can leverage existing samples with the current solution to find that of larger ones. The extensive experiments on several real social networks were conducted in order to show the effectiveness and performance of our algorithm compared with current ones. The results indicated that our algorithm outperformed other state-of-the-art ones in terms of both the total cost and running time.

Reviewing the Challenging Factors of Survival During COVID 19 Uncertainty

Social media /online platforms are particularly important in times of crisis, as they are a vital channel for providing and ensuring access to information about products and services in an efficient manner. In a time of crisis and economic down turn, businesses usually begin to cut expenses, while they reduce their marketing budget; the key question is how business make an effort to be visible for their customers and how they react to uncertain situation. This research will review the existing literature to lays out the theoretical foundations to extract the ‘happenings’ and issues of marketing during the crises and provide some evidence of the global companies. It would suggest how businesses can better prepare themselves so that they can be more resilient to overcome the uncertainty and more agile to cope with these challenges in future. Despite the perennial need to understand and manage uncertainty in business, there is lack of data that highlight on the corporate marketing communication approaches for their customers. The findings of this research suggested that, during any crisis or high uncertainty, businesses must prepare themselves to alter their corporate marketing communication approaches and strategies, for their customers. This will reduce stereotype attitude, confusion, backlash or any negative connotation. To stay afloat in a highly competitive digital world, businesses can focus on clarity and tone of the communication message, align their operational and strategic process and it outcomes. Be vigilant by identifying the vulnerability and refocusing on brand values. Gather intelligent information using analytical tools – internal and external information. Devise appropriate reactive and proactive responsive strategies to survive in uncertain situation.

DETERMINATION OF THE EFFICIENCY OF BRAND MARKETING RESEARCH BASED ON KEY PERFORMANCE INDICATORS

The expediency of using the system of key performance indicators for evaluating the effectiveness of conducting the main types of brand marketing research is analyzed. The purpose of the article is to systematize the characteristics of the effectiveness of marketing research, depending on the objectives of the study. The article considers marketing research of the target audience of the brand, brand testing, determination of the effectiveness of alternative brand options and marketing research of the feasibility of rebranding products. The use of the KRI system for evaluating the effectiveness of marketing research of brands allows you to more rationally plan the distribution of the company's marketing budget, avoiding financing of unpromising areas. A system of key performance indicators in the study of the brand's target audience is proposed, which reflects the accuracy of assessing the compilation of profiles of primary and secondary audiences, the effectiveness of interviews and the organization of focus groups, and also reflects the efficiency of using Internet resources. The characteristics of software products Xtensio, Digital Marketer, Demand Metric, Hub Spot, which are advisable to use for compiling profiles of the target audience, are considered. It is shown that the increase in the efficiency of the work of focus groups contributes to the observance of the principle of homogeneity of its composition, a clear definition of priorities and a careful choice of a moderator. It has been established that when testing a brand as a KPI, it is advisable to use indicators of the accuracy of assessing the linguistic strength of the brand name, brand color, behavioral and economic perception of the brand by the target audience. Key performance indicators for evaluating the effectiveness of the rebranding expediency reflect the value of the brand, compliance with the target audience, and the effect of rebranding. The total cost method or residual estimated value method can be used to determine brand value.

Pakistan State Oil: multidimensional strategic issues of a market leader

Learning outcomes The learning outcomes are as follows: to analyze the multidimensional and complex crises, and market stature of a company that was a market and industry leader in a developing country; to evaluate and interpret the outcomes of decisions pertaining declining profits, outstanding receivables, branding, marketing and radical reforms to overcome the challenges of sustainable growth, customers and employees’ loyalty, market stature and leadership crises; and to design strategic solutions for sustaining its leadership position and combating severe challenges. Case overview/synopsis The purpose of this paper is to ponder upon various crises that Pakistan State Oil (PSO) was facing, so that learners can critically analyze, assess and design strategic solutions for it. PSO was the state-run market leader in the petroleum industry. The company had been struggling to combat multiple types of turmoil at a time. Its huge fund of receivables was blocked in circular debt that caused the company budget constraints and deficits. Due to a government policy shift, the demand for its furnace oil substantially reduced and profits plummeted. The countless internal and external crises posed severe menace to its competitive position vis-a-vis its rivals. This qualitative case study garners data from eight interviews from senior managers in the petroleum industry and adds content analysis technique to acquire pertinent data from renowned media sources and subsequent analysis. The drastic crises left PSO with dearth of funds and declining profitability. Consequently, due to limited marketing budget, creativity of its marketing team for devising effective marketing programs to raise market share was compromised. PSO underwent the issues of brand sustainability, sustainable growth, customers and employees’ loyalty, and market stature to financial and leadership crises. However, despite limitations, it still enjoyed a market leadership position among its rivals in the industry by occupying more than half of the chunk of market in the petroleum industry. This is a unique case study of a state-owned giant company facing multidimensional menaces. It offers tremendous learning opportunities for students who can devise creative strategic solutions and link theories and models with practice. Complexity academic level Graduate (MBA), MS, PhD (management and administrative sciences); Suitable for teaching in chapters: Anywhere but ideally near the middle or end of the above courses. Supplementary materials Teaching notes are available for educators only. Subject code CCS 11: Strategy.

ЭВОЛЮЦИЯ ИНСТРУМЕНТОВ ЭЛЕКТРОННОГО МАРКЕТИНГА

Email marketing tools now enable companies to dramatically improve customer engagement and balance their marketing budgets. To identify trends and tendencies, it is advisable to investigate the evolutionary features of electronic marketing tools, assess their classification specificity, study the functional features and analyze the transformational vectors of electronic marketing.
 Marketing in effectively functioning and constantly developing companies is designed in such a way that, penetrating into the management complex of implementing strategies and innovations, it instantly reacts to the emergence of the latest electronic tools and technological solutions, forms its own ways of preventing an unstable external environment.

Brands on TikTok: Strategic first steps and successful execution

TikTok has fast become the world’s most talked-about social network — in the news and popular culture, the relatively new player in the fray presents an opportunity to reach consumers in a new, relatable way and, most importantly, appeals to the holy grail of demographics. While any major brand with the right marketing budget can reserve one of TikTok’s many (and growing) media products, implementing a solid organic channel strategy for TikTok is essential for smaller brands, individuals and agencies. This paper provides a practical guide to being successful on TikTok as well as clear initial guidance to consider whether the platform fits into your wider social strategy. It also provides advice on execution, brand examples and pragmatic starters to help you and your team feel educated on the platform.

НАПРЯМИ ПІДВИЩЕННЯ ЕФЕКТИВНОСТІ КОМПЛЕКСУ МАРКЕТИНГУ АГРАРНИХ ПІДПРИЄМСТВ

The article summarizes the main components of an effective marketing complex and suggests directions for its improvement for agricultural enterprises, taking into account modern conditions of agribusiness. It was established that the effectiveness of the marketing complex depends on marketing tools, marketing management, and the optimal marketing budget. The development of the marketing complex for each agricultural enterprise is carried out individually and has its own specific characteristics. Among the important and priority factors of effective development of agricultural enterprises, effective marketing policy of distribution and its purposeful development are highlighted. This is explained by a significant increase in competition on the agricultural product sales markets, which leads to an increase in the costs of the enterprise’s production activities, and increases the demands of consumers and clients regarding quality service and timely delivery of goods to the consumer. The presence of an effective marketing management system in agricultural enterprises will contribute to their innovative development and create an effective mechanism for the implementation of elements of the marketing complex, which is developed for a specific enterprise. The concept proposed by us allows you to combine the solution of individual tasks and mechanisms of increasing the efficiency of agricultural production into a single strategy for the development of enterprises in the agrarian sector of the economy, to successfully combine the use of traditional methods of evaluating the economic efficiency of production and to expand the range and contribute to the improvement of the quality of the strategy due to the development of new modern methods and mechanisms and technologies, which is dictated by modern requirements for the development of Ukraine on the way to enter the European and world markets.

The influence of formal and informal control on market and financial results

Purpose This paper aims to examine the relationship between control mechanisms and marketing performance based on a sample of marketing managers. To that end, this paper focuses on the relationship between the types of controls used in marketing and the market and business results. Methodology This study collected the data through a survey among marketing professionals with experience and decision-making capacity involving marketing budgets and plans, in practical terms a sample of 97 marketing managers and analyzed the data via a structural equation model using Smart PLS 3. Findings The findings confirm that marketing control mechanisms have a significant impact on business results, demonstrating the relationship of formal controls with market results and the relationship between informal controls with financial results. Likewise, the authors were able to prove that there is a relationship between formal and informal control. Practical implications The implementation of the control mechanisms should be based on the development of a detailed evaluation system of the activities carried out by the marketing employees and an analysis of their capabilities and abilities. In addition, managers should integrate formal control decisions into their marketing strategy to improve organizational results. Originality The results of this study help explain the relationship between marketing control mechanisms and organizational results and allow to understand what the level of influence is that marketing control mechanisms have on market and financial results.

The tie-up blues for Vanya’s Dance Planet: A failure case of social media marketing

This case study covers various aspects of social media as an alternative and cost-effective tool of marketing and promotion. The case also highlights the social media promotion tools used by a social media consultancy start-up for a client, and how it failed to achieve desired results. In this world of digitisation, social media marketing is a trend that is prevalent across the globe. Social networks have changed the way information is delivered to the customers, shifting from traditional push marketing to pull marketing. Entrepreneurs are using social media marketing to promote their product or services by this they can not only promote their venture but at the same time efficiently utilise their marketing budget. Vanya’s Dance Planet is such an organisation which used social media marketing to reach out to its target prospective customers. It required structured planning, professional knowledge about various social media platforms, and creative writing skills to post content on these platforms. The consultant organisation We4U planned and executed the social media campaigns for Vanya’s Dance Planet getting professional help from social media consultancy start-ups which can be a wise decision for some entrepreneurial ventures. But sometimes these professional tie-ups would end up with loss of time, money and trust. This case study deliberates upon such a fallout.

Movie Success Prediction Using Data Mining

The movie industry is arguably one of the biggest entertainment sectors. Nollywood, the Nigerian movie industry produces tons of movies for public consumption, but only a few make it to box-office or end up becoming blockbusters. The introduction of movie success prediction can play an important role in the industry not only to predict movie success but to help directors and producers make better decisions for the purpose of profit. This study proposes a movie prediction model that applies data mining techniques and machine learning algorithms to predict the success or failure of an upcoming movie (based on predefined parameters). The parameters needed for predicting the success or failure of a movie include dataset needed for the process of data mining such as the historical data of actors, actresses, writers, directors, marketing and production budget, audience, location, release date, and competing movies on same release date. This model also helps movie consumers to determine a blockbuster, hit, success rating and quality of upcoming movies before deciding on a movie ticket. The data mining techniques was applied to Internet Movie Database MetaData which was initially passed through cleaning and integration process.

Competitiveness factors influencing tourists’ intention to return and recommend: evidence from a distressed destination

ABSTRACT Assessing destination competitiveness from a tourist perspective has been limited, especially for distressed destinations such as Zimbabwe. Zimbabwe has been facing ongoing political and economic challenges for more than two decades which puts pressure on the growth of the tourism industry. However, all destinations compete in the same space for tourists’ attention, forcing marketers to continuously develop strategies to enhance competitiveness and increase tourist returns and recommendations. This paper focuses on identifying competitiveness factors that influence tourists’ intention to return and recommend. Based on a sample of 450 international tourists to Zimbabwe, results show that unique to a distressed destination, the residents’ hospitality and friendliness is the most important predictor for the intention to return. This emphasises the role of residents in making the destination more competitive and attractive. General amenities, attractions and destination management are also significant predictors of return intentions. Tourists' intentions to recommend are largely predicted by the destination's resources. Encouraging visitors to revisit and recommend can assist a distressed destination in increasing visitor numbers on a limited marketing budget. Understanding these factors could also help managers to improve the negative image of the destination.

Marketing mix modeling for pharmaceutical companies on the basis of data science technologies

The article contains the results of Data Science technologies application (including machine learning and regression analysis) to modelling the results of marketing activities of key brand of one of the Ukrainian pharmaceutical companies on the basis of historical data for the period from 2015 to 2019 in weekly detail. The main goal of research is to estimate the influence of key elements of the marketing mix (penetration of pharmacy chains, price policy vs main competitors, advertising activity of the brand and its competitors in all communication channels (television, Digital, radio, outdoor advertising, press)) on company’s sales, volume market share and value market share in relevant segment of drugs. Based on the results obtained, the article explains in detail the impact of penetration, price policy and media activity on the competitiveness of the enterprise and its position in the market. The influence of the price policy and penetration directly on sales (market share), as well as on other factors (including the effectiveness of the brand's advertising activity on television) is estimated and taken into account for development the effective marketing strategy. Based on the research, the article contains main recommendations for optimizing the marketing strategy to maximize the company's sales and increasing market share in monetary or physical terms. Data Science technologies become a tool for sales management, because it creates the ability to quantify the impact of each factor on sales, determine their optimal combination for achievement of business goals and strengthening the company's position in the market, effective marketing budgets distribution and scenario forecasting. Continuous model support allows to increase the return on each factor, improve return on investment and ensure the achievement of business goals in the most efficient way. Data Science forms the basis for finding effective marketing solutions and forming an effective business development strategy.

Operational Strategies of Online Food Delivery Businesses in Camarines Norte, Philippines

This research determined the operational strategies of online food delivery businesses in Camarines Norte, Philippines. It assessed the profile of the online food delivery businesses in terms of number of riders, initial capitalization, form of business organization, commonly used digital platform and average weekly deliveries; the operational strategies being implemented and the problems encountered on the aspects of resources and processes. Findings revealed that majority of online food delivery businesses have 11 to 15 riders, under sole proprietorship, uses social media platform, with 201 and above weekly deliveries. The operational strategies of online food delivery businesses include: monitoring of riders’ performances, use of cellular phones, desktop, tablet and laptop for monitoring customer needs; optimizing marketing budget through utilization of low-cost marketing campaigns and promotions; promotion using various social media platforms; and updating customers with their transactions from time-to-time via chat or Short Message Service (SMS). The problems encountered by online food delivery businesses are shortage of available riders during peak hours and threat of new entrants. The study recommended for food delivery business owners to revisit the human resource plans and create operations manual to provide clear guidelines and processes in implementing their operational strategies which are significant to their daily operations.

Destination Marketing: Optimizing Resource Allocation Using Modern Portfolio Theory

Despite the significant contribution that tourism generates for national economic health, the tourism industry is challenged by seasonal and periodic volatility in arrivals. This volatility causes inefficiencies in the allocation of a destination’s resources. Policy makers and operators prefer a steady and constant inflow of tourists. Though prior studies have applied a portfolio optimization approach to inbound tourism flows, this study is the first to consider the destination’s marketing budget and each tourism markets’ heterogeneous marketing expenditure–demand elasticity. Our model provides destination marketing organizations with direct guidance as to how to allocate their marketing budget to facilitate portfolio profiles that are efficient from a risk-reward perspective, and that are attainable given budget constraints and known marketing expenditure–demand elasticity patterns. Using Tourism Research Australia International Visitor Survey data, we find that variability in tourism fluctuations can be reduced and inbound tourism numbers/spending significantly increased by implementing smarter (data-driven) marketing budget allocations.

Augmenting brand community identification for inactive users: a uses and gratification perspective

Purpose In an era where companies shift a part of their marketing budget to support their social media presence, very little is known about the antecedents and effects of participant identification in a social media community. This paper aims to examine the antecedents of community identification in a Facebook company-managed brand community, for inactive members, using the uses and gratification theory. Brand community identification is also expected to lead to higher levels of brand loyalty for these members. Design/methodology/approach This research reports the results of a quantitative with survey data from 389 members of a variety of different official Facebook pages. Findings The results reveal that inactive members of Facebook pages can be influenced to act in a way that is beneficial for a company. Perceived human and information value of the brand Facebook page lead members to identify with a brand community and identification is a strong predictor of loyalty to the brand. Practical implications This paper provides suggestions to managers on the development of brand community value that can increase brand community identification and loyalty of apparently inactive brand community members. Originality/value By showing that brand community identification and loyalty exist for users with low activity levels, this research challenges the widely accepted idea that only highly active members are valuable in online brand communities. Specifically, it reveals the most important motivations for these members to identify with the community and be loyal to the brand.

Should I suggest this YouTube clip? The impact of UGC source credibility on eWOM and purchase intention

PurposeIn spite of the increasing organic and interactive marketing activities over social media, a general understanding of the source credibility of voluntary user-generated content (UGC) is still limited. In line with the social identity theory, this paper examines the effects of consumers' perceived source credibility of UGC in YouTube videos on their attitudes and behavioral intentions. Additionally, source homophily theory is included to predict the antecedent of source credibility.Design/methodology/approachThree hundred and seventy two Generation Y respondents were interviewed using snowball sampling. Data were analyzed with component-based structural equation modeling technique of partial least squares-structural equation modeling (PLS-SEM).FindingsFindings confirmed that perceived source credibility indirectly affects purchase intention (PI) and electronic word-of-mouth via attitude toward UGC. Besides, perceived source credibility mediates the effect of perceived source homophily on attitude toward UGC.Practical implicationsSince today's consumers have begun to trust and rely more on UGC than company-generated content on social media when making purchase decisions, companies may reconsider democratizing certain aspects of their branding strategies. Firms may fine-tune their marketing communication budgets – not only just by sponsoring public figures and celebrities but also by nurturing coproductive engagements with independent content creators who are ordinary consumers. Endowed with their imposing credibility, these micro-influencers and prosumers have high potentials to be uplifted to brand ambassadors.Originality/valueWhile consumers' purchase outcome can be measured easily using metrics and analytics, the roles of source homophily in stages leading up to the purchase is still elusive. Drawing on the rich theoretical basis of source homophily may help researchers to understand not only how credibility and attitude are related to PI but also how this nexus generates positive word of mouth among UGC followers within the social media circles.

Improving Approaches to the Formation of Enterprise's Marketing Budgets

This article discusses the importance of optimizing advertising budgets for enterprises in the face of fierce competition for the consumer. It highlights the principles that business owners should consider when developing a marketing budget and notes the change in the influence of marketing in the sales funnel. The process of optimization of advertising budgets is presented.Also, the main approaches and methods of forming the marketing budgets of enterprises are highlighted. The method is considered in detail, taking into account the effectiveness of the use of marketing budgets. And recommendations are given on the allocation of budgets within advertising channels, depending on the goals and size of the enterprise.

The impacts of COVID-19 pandemic on retailing in Vietnam: current situations and recommendations

The COVID-19 pandemic seriously impacted almost the fields of the Vietnam economy in the shortterm and long-term, including the retail industry. While, retailing is regarded as one of the most strongly-impacted fields, but it also expresses the quick capability of recovery in comparison to other sectors. This study has been carried out to evaluate and analyze holistically the major effects of the pandemic on the Vietnam retail industry with nine critical impacts: the number of shoppers decreases; great volatility in the rental market; closed shops, maximum staff cuts; retail sales decline seriously; the explosion of e-commerce and home delivery services; change the campaign and decrease marketing budget; invest in building new online sales channels; convert consumption from offline to online and increase stockpiles of goods in the epidemic. Based on these analyses, the author recommends several significant suggestions for the Vietnam government including (1) directly support by in cash for the closed-stores during the pandemic for the traditional retailing; (2) quickly implement liquidity support packages and offer credit packages with preferential interest rates for the modern retailers; (3) solving problems of labor shortages in businesses that produce essential products; (4) increasing the essential stockpile source and manage efficiently the market supply. While some suggestions are delivered for retail businesses to overcome the recession and boost growth after the pandemic: (1) understand customers' problems; (2) reshape business strategy; (3) keep in touch with stakeholders and (4) expand new sales channels. The above suggestions are recommended on the basis of the bright outlooks from both macro factors and the internal retailing market.

Risk Management in Digital Advertising: An Analysis from the Advertisers’ Media Management Perspective

ABSTRACT For advertisers, media management is the downstream part of advertising: After creative content is produced, advertisers manage different distribution channels to reach the right target audiences in efficient and effective ways. In the last five years, new technologies have disrupted this space and supported the exponential growth of digital advertising. Creative content may be distributed via internet-connected devices, such as desktop, mobile, or connected TV. Advertisers must understand the benefits and risks of each channel to best allocate their marketing budgets and drive both growth and cost savings. Tech and data-driven digital advertising promises many benefits to advertisers, ranging from precision targeting and measurable results to automation and real-time optimization. At the same time, advertisers face major challenges from a host of actors in the media ecosystem that often have misaligned incentives. Several studies have investigated how digital advertising activities affect business results in order to understand their positive and negative impacts. Very few studies, however, have focused on risk management in relation to digital advertising. In this article, we aim to fill this gap. Specifically, we identify the main risks in the paid distribution of digital advertising and the corresponding mitigation strategies. We examined digital advertising from the advertisers’ media management perspective. Interestingly, we found that risks and corresponding mitigation strategies can be clustered in specific groups that can help chief marketing officers and media executives drive the right actions.

Characterizing favored users of incentive-based traffic demand management program

Incentive-Based Traffic Demand Management (IBTDM) provides monetary incentives to encourage commuters to alter their departures spatially or temporary with the goal of alleviating congestion. With the proliferation of smartphone technology, mobility apps have become ideal platforms for carrying out IBTDM. Tremendous amounts of empirical app usage data have been collected, but research into the behavioral insights of IBTDM remains limited. It is unclear who IBTDM's target users should be, and which users are the most likely to be stable (actively use the app) and behaviorally sustainable (willing to contribute to congestion alleviation). This study aims to profile the socio-demographics of such favored users based on behavioral and socio-demographic data collected by the Metropia app. The Ensemble Empirical Mode Decomposition (EEMD) method was used for usage trend detection. The detected usage trends were then used in pattern classification to identify stable and sustainable users. Next, binary logistic regression was adopted to explore the socio-demographic characteristics of each category of users. It was found that factors including home work days, household annual income, household size and schedule flexibility played important roles in users' usage patterns and departure time decisions. Specifically, home work days and household annual income co-influenced app usage patterns. Household size and schedule flexibility were the main determinants of departure time behavior. The findings of this research can be used to guide administrators of budget-constrained IBTDM programs who need to wisely allocate their marketing budget to increase penetration among favored users as to maximize the utility of the program.