Marketing Management Tools Research Articles

The Importance of Hip Hop Events and their Impact on Event Management in Dubai

Background – Events and concerts give participants a chance to display their talents or showcase a new idea, perspective or invention. Dubai has established itself as one of the major destinations for events, specifically in the genre of Hip Hop. Hip Hop has become a worldwide cultural phenomenon and has impacted Dubai’s large international young community. The world market is becoming increasingly saturated and differentiation has become essential.Purpose – An assessment needs to be conducted on the usage of marketing and event management tools in major hip hop events and their effectiveness in providing economic benefit.Design/methodology/approach – This research study will utilize both primary and secondary data sources, mainly primary, in the form of interviews with industry professionals and experts in Dubai’s event field, to obtain an accurate perspective.Findings – Understanding the importance of hip hop and its economic impact will help to open up a new perspective to current research streams in the field. The research will focus on three key areas through analyzing Dubai’s hip hop events significance:- The city’s ability to differentiate itself through hip hop events.- The ability to attract major artists and audience from the region.- The benefits for the event management sector. Research limitations – At this stage, there is limited secondary data on this topic as Hip Hop events are specifically occurring in select cities with the infrastructural, audience, and economic provisions.Originality/value – Development of surrounding businesses, employment opportunities, culture awareness and crowd attraction are potential outcomes which can be expected from the above presented events in Dubai. The study aims at supporting a successful initiation and execution of hip-hop events which will give Dubai an economic edge against its competitors in this growing sector. Keywords: Culture, Dubai, Events, Event Management, Hip-Hop

НОВІ ПРІОРИТЕТИ МІЖНАРОДНОЇ МАРКЕТИНГОВОЇ ДІЯЛЬНОСТІ ПІДПРИЄМСТВ В УМОВАХ ГЛОБАЛІЗАЦІЇ ТА ІНТЕГРАЦІЇ УКРАЇНИ У СВІТОВЕ ГОСПОДАРСТВО

The current stage of development of the world economic system is characterized by the intensifi cation of globalization processes, which is accompanied by periodic economic crisis phenomena. Therefore, the world economic space has two landmarks: ensuring maximum satisfaction of the needs of target customers and expanding the capabilities of production systems. Achievement of the set goals is possible by activating the mechanism of international marketing, the role of which is to adapt the industrial process of countries to the unstable external conditions of the world market. There is an intensifi cation of the competitive struggle between producers both in the domestic markets of individual countries and at the level of the world market as a whole. At the same time, the effectiveness of the subjects of international business, the main representatives of which is the TNC, depends on their ability to monitor and react responsibly to changes taking place in the global environment, and also to take them into account in determining the prospects for the development of production, commodity and commercial policy in international markets. At the same time, the role of international marketing of enterprises is gradually increasing, as one of the main systems of management of international business, and it is he who is able to provide interconnection with the external environment in close interaction with its production subsystem. The use of marketing tools and the internationalization of production and commercial activities take place in parallel. The marketing activity of national and international players in the globalized market depends on the level of internationalization of the economic interaction of its subjects. All this contributes to the internationalization of marketing principles and tools, the formation of a holistic system based on individual marketing management tools, and international competition contributes to the intensifi cation of marketing activities of enterprises. Because of this, national marketing is gradually subordinated to the procedural-content priorities of international marketing in the conditions of globalization. Thus, on the basis of the conducted research, taking into account the peculiarities of the current stage of development of the world economic system, the necessity of developing a mechanism that would allow to coordinate eff orts in the fi eld of international marketing in order to increase the productivity of each event separately and marketing strategy in general.

Marketing environment and marketing management of universities in Ukraine: national and regional dominants

The marketing environment of universities’ activities in Ukraine is changing dramatically. As a result, the system of chances and risks for universities is constantly changing. Therefore, timely detection of changes in the marketing environment and effective management ensure the competitiveness of the universities. The aim of the article is to identify the marketing environment dominants of the Ukrainian universities, as well as to assess the efficiency of marketing tools application in the system of universities’ management. On the basis of statistical and primary data analyses, the higher education market in Ukraine both at the state and regional levels has been assessed and the university’s dependence on market sources of funding has been substantiated. As the modern domains of the marketing environment of universities, changes in the distribution of state-funded places, the impact of external independent testing, and the intensification of competition between universities are determined. The influence of external independent testing on structural intersegmental changes concerning the choice of specialties of universities’ entrants is proved. The comparative characteristics of the marketing management tools in Ukrainian and Polish universities are considered. The obtained results outline the importance of strengthening the marketing orientation of management in universities.

The State of Strategic Marketing Application in Czech Small and Medium-Sized Enterprises

The article deals with the issue of using strategic marketing in the business of small and medium-sized enterprises. The main objective of this paper is to theoretically define the principles of strategic marketing and then practically analyse the level of strategic marketing use as a tool of business management in selected Czech small and medium-sized enterprises. In order to fulfil the research plan, secondary and primary research was carried out. The theoretical part defines the basic problem areas such as various approaches to strategic marketing defining and strategic management process versus strategic marketing process. In the practical part, 335 companies are analysed, the results are commented and hypotheses evaluated. The most important findings are generally low rate of utilization of strategic marketing management tools and the utilization of these tools is dependent on company size, with micro companies being the worst and medium companies the best.

Formalization of brand marketing management in the food industry

The article helps to identify interrelated factors of the formalization of brand marketing management using applied strategic marketing tools. The brand marketing management framework is constructed on the market research results – new marketing mix. Consequently, valuable brands and new food products are more successful in market at the lowest costs under more intensive promotional activity. Customers always fix their choice at an advantage in consumption of new brands with (in)tangible attributes – quality, use convenience, time savings, image or variety by personal experience. Producers try to gain from new brand marketing management and try to form new consumption trends together with intermediaries. The theoretical and empirical researches were provided on the basis of scientific literature, case studies, primary data collection, surveys, primary data analysis and synthesis. A questionnaire was used to identify brand marketing management tools and the results of using them. The answers to research problems are formulated on the base of situation in the B2B and B2C markets of food brands. The research was framed to demonstrate that the formalization of brand marketing management can be implemented successfully by forming target marketing strategy and marketing communication.

Use of strategic marketing management tools in contemporary enterprises

This article aims at a brief presentation of problems with the use of strategic marketing management tools in enterprises, which are becoming a basic category of strategic management. The author has resigned from analysing specific management solutions and focused mainly on theoretical issues with a wide scope of reference. First, the author presents a terminology network, which is slightly disregarded in the Polish literature. Next, the author makes an attempt to outline basic problems, including the problems connected with the preferences of managerial choices and the advantages of their proper use. The author’s comments are intended to trigger further detailed empirical research.

Does Sustainability Reporting have Sustenance? A Marketing Ploy or Management Tool

Sustainability efforts encompass economic, social and environmental management. After decades of promoting such causes, sustainability finally has moved up to the boardroom agenda per PricewaterhouseCooper 2012 report. As companies incorporate sustainability into business strategy, it is crucial for accountants and financial managers to capture the financial implications of those sustainable practices. This case provides an in-depth review of current reporting and measurement of sustainable practices and outlines properties of a sustainable model. Students will analyze reasons for corporations to provide sustainability reports and examine limitations of current sustainability reporting practices. Students are advised to consider what enhancement in current reporting could increase the economic value of reporting efforts and evaluate the relative contribution of sustainable practices that improve firm performance. This case illustrates development of corporate sustainability reporting, the importance of collecting relevant data, analyzing operational data, reporting in accounting and financial terms, incorporating sustainability when making strategic business decisions.

The Use of Marketing Management Tools in E-commerce

Marketing management increasingly occupies an important position in the world of business as well as in the sphere of e-commerce. However, some companies underestimate the importance of marketing support. This paper focuses on the e-commerce marketing management and its importance that is currently in theory and practice underestimated. Based on the analysis of the current state, synthesis of knowledge are literature research, quantitative survey was conducted using questionnaires, which aims to determine the use of marketing management tools, weaknesses and effectiveness of the marketing management concept among Internet companies, focusing on online retailing. The results of the survey reject or not reject the hypotheses (by the Pearson’s χ2-test of independence, the Chi-square test, Friedman test, Nemenyi test of multiple comparisons and the Wilcoxon matched pairs test). The results of the survey show that the concept of e-commerce marketing management is not used effectively as well as marketing management tools. The survey founded out that the analysis phase, compared to other phases, the e-commerce marketing management is significantly undervalued. The survey also showed that the e-commerce marketing management concept is used at the tactical level, strategic tools are used to a limited extent. However, marketing management concept in e-commerce is not used in most cases (53.84%). The survey also has confirmed that the marketing activities of Internet companies are limited to Internet marketing, which is controlled only at the tactical level.

Soundscape and architecture—What is your vision?

The soundscape technique combines physical acoustical parameters with user perceptions of the sonic environment in a context of meaning. This method can be a powerful analysis and design tool for a wide range of projects, including building interior and exterior spaces, site planning, urban and transportation planning, environmental noise control, public parks, etc. The soundscape method can also be a useful marketing and project management tool, with the goal to address acoustical concerns as early as possible in the architectural design process, even in the inspiration phase. Sonic perceptions of the built environment are often a vital part of the vision for a project, and must be expressed at the outset to be fully incorporated in the design. Innovative project delivery methods and contract structures such as Integrated Project Delivery (IPD), unlike design-bid-build, assign shared risk and reward among the design, construction, and management teams. Design inputs are solicited from all stakeholders and design team members very early, before programming. This and similar delivery methods offer great opportunities for practitioners, through soundscaping, to include acoustics in the initial project discussions, and to advance the implementation of quality sonic environments. Project case study examples are discussed.

Institutionalization of Marketing in Hospitals in the Czech Republic

This paper deals with the specifics of marketing management in hospitals and the role of marketing in hospitals in the Czech Republic. Its goal is to present marketing as a tool enabling hospitals to compete in an open market. Nowadays, hospitals increasingly realise that there is a need for marketing management in health care services. The importance of marketing management is then represented by the institutionalization of marketing by means of establishing marketing departments or appointing people to deal with marketing and marketing management. This paper presents the results of a project financed by the Internal Grant Agency of FaME TBU No. IGA/FaME/2012006 Research and application of the marketing management tools in the health care management considering reforms in the health sector.

Top ranking fashion blogs and their role in the current fashion industry

Within the last decade, fashion has become more of a global industry catering to complex and transnational customers of diverse lifestyles, religions, and cultures which makes the recognition and identification with particular customers more complex. Simultaneously the radical change in communication allows users to participate, follow and discuss any trends and fashion news easily for any collection and purchase them online. In particular, the blogosphere has become a prime arena within which fashion consumers reside online, bringing to question who and what are the influencers within these new digital and cultural spaces in the fashion industry. Blogging in general is considered as a new form of online journalism, enjoying great attention of users, based on a personal and interactive approach, versus the standardized treatment through mainstream media. Fashion blogs are perceived as a street of fashion, as a source of authenticity and a display of the actual use of fashion by the general public. However, fashion bloggers are looked upon skeptically by the fashion industry as they may not have the proper expertise guaranteeing quality and credible reporting. This new cultural sphere continues to be resisted by established and well-known fashion brands and designers who do not incorporate them into their corporate communication. This is not to say that fashion bloggers are not influential; in fact, these amateur-experts have proven an impressive capacity to build up a wide audience following, and have even influenced mainstream media and the fashion industry. While we are aware of these trends, few studies have shed light on the nature and characteristic of this new cultural and online domain of the fashion industry. Thereby, this paper focuses on some of the most effective blogs and bloggers, delving into who they are, what kinds of strategies do they employ to attract a wide audience and what are the range of characteristics that make an effective blog. The aim of this paper is to enhance the understanding of this new cultural realm, especially in three avenues: identity of bloggers, the culture of space of their blogs, and their actual or possible use as a tool of fashion marketing and brand management.

Strategic IMC: From abstract concept to marketing management tool

Although integrated marketing communication (IMC) has progressed towards mid-range maturity level, its full-scale adoption has been impeded by a lack of consensus on its defining constructs. The purpose of this study is to move from abstraction to define the construct of strategic integration (SI) and develop this into a management tool, thus making an important contribution to both the theory and practice of IMC. Drawing from both IMC and strategic management literature, the construct of SI is operationalised into a number of key factors and a well-cited management model, Fuchs' ‘integration valuator’ is explored as the starting point of a measurement tool for IMC. To do this, a Delphi study invites the scrutiny of an expert panel of world-leading IMC researchers and practitioners. The panel validated the model construction process, redefined overarching constructs and key factors with a high degree of consensus, supported a process measure, suggested a weighted evaluation measure and recognised the importance of developing such a measure. They delivered clear and consistent imperatives guiding model development. The result is a measure of SI that evaluates organisational proficiency and diagnoses the integration of IMC campaigns. It also advances theory by providing a better understanding of the construct of SI.

Brand communities embedded in social networks

Brand communities represent highly valuable marketing, innovation management, and customer relationship management tools. However, applying successful marketing strategies today, and in the future, also means exploring and seizing the unprecedented opportunities of social network environments. This study combines these two social phenomena which have largely been researched separately, and aims to investigate the existence, functionality and different types of brand communities within social networks. The netnographic approach yields strong evidence of this existence; leading to a better understanding of such embedded brand communities, their peculiarities, and motivational drivers for participation; therefore the findings contribute to theory by combining two separate research streams. Due to the advantages of social networks, brand management is now able to implement brand communities with less time and financial effort; however, choosing the appropriate brand community type, cultivating consumers’ interaction, and staying tuned to this social engagement are critical factors to gain anticipated brand outcomes.

Crop Production Contracts and Marketing Strategies: What Drives Their Use?

ABSTRACTNumerous crop marketing and risk management tools are available. Research relating producers’ risk attitudes to their use of these tools has produced mixed results, and most studies focus on individual tools, neglecting potential complementarities in information they provide. Little is known about the proportion in which individual tools are used, e.g., the percentage of the crop that is forward sold as opposed to hedged. This study identifies factors, including risk attitude, that impact the proportion of corn and soybean producers’ sales through spot markets, futures, and options, as well as forward and production contracts, and investigates contract complementarity and substitutability using survey and accounting data, and causal modeling.

Marketing particularities in financial organizations

Acceptance of marketing as a business concept in financial organizations, implies that the respective organization adopts the following marketing postulations: value of action capital conclusively depends on the client (value); key goal of marketing management in financial organizations is to attract new and retain existing clients; clients are attracted by delivering superior value/offer, and retaind by generating client satisfaction; in creating and delivering superior quality (value), marketing must have full colaboration with other departments (functional business areas). Due to the financial services nature, marketing management demands the classical marketing mix concept to accomodate and expand with respect to basic 4P concept, by adding new elements related to humen force (employees), physical environment and the manner in which they provide services to their clients. Therefore we believe that for the financial organizations 7P, namely 7C model is more adequate than classical model, and that it represents conceptual frame that identifies wider spectar of marketing management tools. In addition, we would like to emphasize that the advertisment, that participates with over 2/3 in total marketing budget, represents the dominant promotional form and that the budget structure for advertizing is commonly defined by the goal and task method, that stands for an important indicator of proper market orientation of financial organizations in Serbia.

Marketing Information Systems: A Marriage Of Systems Analysis And Marketing Management

Synergy between information systems and marketing has stimulated interest in marketing information systems (MKIS) as a major marketing management tool. However, educators, researchers and managers are only beginning to define this field systematically. This paper reviews related literature from marketing, management and information sciences to develop a definition of marketing information systems and a model process for MKIS development. Special attention is paid to the role of marketing professionals in the development process.

Discussion: What Have We Learned from the New Suite of Risk Management Programs of the Food, Conservation, and Energy Act of 2008?

New revenue-based support programs in the 2008 Farm Bill represent a fundamental shift in farm programs and risk management decision-making. However, complexity, uncertainty, economics, and, arguably, an incomplete analysis of the new Average Crop Revenue Election (ACRE) program all contributed to low enrollment in the new program in 2009. An effective analysis of ACRE should consider farm programs as part of an integrated risk management portfolio, including crop insurance, marketing, and other risk management tools as opposed to a separate lottery program. Improving this integration could be one of the most significant consequences of the 2008 Farm Bill.

Brand community: Drivers and outcomes

Groups of users and admirers of a brand who engage jointly in group actions to accomplish collective goals and/or to express mutual sentiments and commitments are known as brand communities. Lately, brand communities have been a heavily researched topic in marketing science. While the positive consequences of brand communities are well documented in the literature, little is known about how brand communities can be facilitated and how consumer–brand relationships can be fostered. This research empirically assesses the relevance of offline (i.e., events) and online marketing management tools (i.e., Web sites with online bulletin boards and online expert chats) to strengthen brand communities by facilitating shared customer experiences and multi-way interactions. Additionally, the importance of consumer–brand identification as a consequence of such relationship-building activities is investigated, and the outcomes of a consumer's identification with a brand are analyzed. Important management implications can be derived. © 2010 Wiley Periodicals, Inc.

A Review of Marketing Mix: 4Ps or More?

The main objective of this study is to review the present marketing mix applies particularly to the marketing. Borden (1965) claims to be the first to have used the term marketing mix and that it was suggested to him by Culliton’s (1948). McCarthy (1964) offered marketing mix, often referred to as the 4Ps, as a means of translating marketing planning into practice (Bennett, 1997). Marketing mix is originating from the single P (price) of microeconomic theory (Chong, 2003). Number of researchers (eg. Gronroos, 1994; Constantinides, 2002; Goi, 2005; Moller, 2006) explores more Ps instead of traditional 4Ps only currently applied in the market. However, the creation of new P seem like unstop. New Ps were introduced into the marketing scene in order to face up into a highly competitively charged environment (Low and Tan, 1995). Even, Moller (2006) presents an up-to-date picture of the current standing in the debate around the Mix as marketing paradigm and predominant marketing management tool by reviewing academic views from five marketing management sub-disciplines (consumer marketing, relationship marketing, services marketing, retail marketing and industrial marketing) and an emerging marketing (E-Commerce). The concept of 4Ps has been criticised by number of studies. Popovic (2006) criticised 4Ps as being a production-oriented definition of marketing, and not a customer-oriented. However, in spite of its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps have yet to overcome a consensus about eligibility and agreement over the practical application (Kent and Brown, 2006).

The positioning of Serbia

The need to attract tourists, companies (foreign direct investment) and talented people and to find markets for their exports requires that countries adopt strategic marketing management tools and conscious positioning. Serbia?s successful economic development requires radical reforms on multiple fronts simultaneously. The whole basis of Serbia?s national competitiveness must be transformed. This requires changing organizations? marketing strategies as well as new requirements for the Serbia?s business environment. Improving marketing activities of our enterprises require: the demise of marketing intuition and the rise of marketing science, the rise of holistic marketing the rise of partner relationship marketing and customer relationship marketing, discovering new points of differentiation and positioning on the base of consumption chain analysis, customer-centered brand management creating and sustaining a market-driven organization through a successful change program.