Modern Marketing Theory Research Articles

Green marketing is a logical answer to the consumer society

In a very short time, green marketing has become a new trend in the orientation of companies in the world, where it represents a new face of modern marketing theory and is the answer to the current consumer society. The aim of this paper is to study the consumer society, its characteristics and consequences on the community as a whole. The consumer today is no longer just a passive observer, but an active participant in the events - Such a role of the consumer in the modern market necessarily leads to a different marketing approach of companies. The conducted research aims to identify the green marketing concept and clarify the boundaries and elements associated with the new marketing concept. The research concluded that green marketing is the application of traditional marketing practices, putting environmental protection first as a priority when determining the elements of the marketing mix from product design, pricing, distribution and promotion. Also, it has been proven that green marketing is not limited to just one sector, but to world-leading experiences in almost all industrial branches.

2000년대 이후 중국 대중 태권도 발전 실태에 관한 연구

After 50 years of development, Abstract: Taekwondo has evolved from a local sport to an official Olympic competitive item, and popular taekwondo is also deeply loved and welcomed by young people and professionals. Taekwondo has gradually become one of the most successful sports industries in the Chinese fitness market, as well as an individual sports industry that has so far relied entirely on market forces to drive it. By referring to academic papers related to taekwondo in China and Korea, sports journals, Chinese taekwondo and other related literature contents, this paper analyzes the current situation of popular taekwondo under the conditions of sports industry and market economy, using research methods such as data collection and logical analysis. Further, this paper points out the restrictive factors and weak points of the development of Chinese popular taekwondo. This paper discusses the existing problems of Chinese popular taekwondo, and puts forward suggestions and directions on how to apply modern marketing theory to the healthy and sound development of popular taekwondo.

Latest Trends in Social Marketing

This paper discusses the latest developments in the field of social marketing. The modern commercial marketing theory provides the basis for the concept of social marketing. The role of social marketing in gaining advantages in the health sector, environment and community is described. Social marketers can now use modern media to involve vast majority of customers more intensely and more closely than ever before at the right time and right place. The rise and widespread recognition of social media such as mobile phones and social networking sites provide new perspectives on how to make the best use of limited resources. Finally, the main idea is to break free the concept of social marketing from traditional chains towards the evolutionary path of the service marketing.

ADVANTAGES AND PROSPECTS OF CO-BRANDING IN THE UKRAINIAN MARKET

BACKGROUND AND OBJECTIVES. The marketing practices of companies over the past two decades have increasingly been based on co-marketing, or inter-firm marketing alliances. The mutual recognition and understanding that each firm's success depends in part on the other firm forms the foundation underlying co-marketing activities. Firms move from trying to win alone to forming networks of partner firms. Corporations understand the need for alliances to acquire and maintain competitive advantage.METHODS. We used general scientific and special research methods: abstract-logical – to summarize theoretical and methodological foundations of co-branding as an integrative marketing tool for joint development of companies; economic-statistical – to analyze the level of development of poultry companies; monographic – to study the experience of individual companies with horizontal form of co-branding; analysis and synthesis – to study the components of co-branding companies; sociological research – to identify key success factors of co-branding.FINDINGS. The structural and logical model of co-branding alliances of poultry companies, the use of which is based on a co-branding strategy, creates the necessary basis for its further development within the framework of modern marketing theory, will increase the effectiveness of co-branding.CONCLUSION. Co-branding, which is a form of strategic collaboration between two brands that involves bringing them together to create a new product or service, makes the marketing alliances of companies visible to the consumer. In doing so, companies imply recognition of the fact that their prominence represents added value. Closer collaboration with retailers, more focused promotion, and co-branding are becoming ways for many consumer companies to control costs and keep prices down. An example of such cooperation is the use of a co-branding strategy for poultry companies.

Development of a customised model of integrated marketing communications for the economic well-being of the enterprise

In modern marketing theory, marketing communications have adopted a more extended interpretation called customisation. This is the subject of further consid-eration of integrated marketing communications as a systematic approach to do-ing business, which allows making the most of all available business tools today. The purpose of the research was to solve the problems of integrated marketing communications related to the organisation of planning and management, ensur-ing the priority of consumer opinion, creation of individualised goods and services. Customisation is based on completing consumer goods with individual elements, component modules or additional exclusive accessories ordered by customers, whose demands are growing and changing. Customisation is understood not only as ensuring that a product or service meets the needs of a specific consumer, but also as designing them together with a future buyer. The article presents a custom-ised model of integrated marketing communications, which can be used by entre-preneurial structures of the restaurant business in the process of forming a com-plex of marketing communications to ensure the savings of their financial and or-ganisational resources, which lead the economic well-being of the enterprise. Based on the analysis, a formula for a customised model of integrated marketing com-munications was derived, which is based on the dynamics of the stages of the formation of IMC. It was concluded that the authors' model of integrated market-ing communications can be used to ensure the financial savings and economic well-being of enterprise.

Modern Marketing and Involvement of the Audience of Non-Profit Organizations in Communication in Social Networks

Aim. The presented study aims to describe the process of involving the target audience of nonprofit organizations in communication in social networks from the perspective of modern marketing goals.Tasks. The author conceptualizes the notions of “involvement” and “engagement” as mechanisms of marketing communications; determines the range of methods and tools used by non-profit organizations in their marketing practices to enhance the engagement of the target audience in communication in social networks; assesses the degree of engagement of the target audience of nonprofit organizations (NPOs) in social networks in the context of industry-specific features and the NPO’s location in order to analyze efforts aimed at involving the audience in communication in social networks through the example of non-profit organizations in the city of Perm.Methods. In modern marketing theory, the shift of the marketing paradigm towards continuous interaction between companies and customers at each stage of their contact with the organization appears imminent. It becomes necessary to maintain a certain level of customer engagement in communication as a cognitive and behavioral construct of the communication process. In this regard, the methodological basis of the study is determined by cognitive and behavioral approaches as key theoretical constructs in the representation of the phenomenon of involvement of the target audience in the communication process.Results. Marketing tools for involving the target audience of non-profit organizations in communication in social networks at each stage of the customer journey are identified; the degree of involvement of the target audience in communication with Perm’s socially oriented non-profit organizations (SO NPOs) in such social networks as VKontakte and Instagram is characterized from the perspective of consolidating the scientific view on the specifics of marketing goals for promoting organizations in the non-profit sector. The author substantiates the need for a systematic diagnosis of the conditions that determine the degree of the audience’s engagement in communication in social networks from the perspective of marketing goals for attracting public attention to the activities of civil institutions.Conclusions. The features of communication with the target audience on social network platforms in the marketing practice of promotion are identified with allowance for the industry-specific features of non-governmental non-profit organizations and their location. It is established that higher engagement of the target audience in communication in social networks is characterized by consistency in information placement; broad coverage of the community audience in a social network, which is estimated by the number of subscribers; posts being viewed by a great number of people, far exceeding the number of subscribers; many likes on community posts; presence of comments and reposts; a link from the social network to the official website of the SO NPO; attraction and use of user content in the community; horizontal connections within the community, networking.

DIGITAL MARKETING IN THE PRACTICE OF SMALL AND MEDIUM ENTERPRISES IN THE REPUBLIC OF MOLDOVA

The use of modern marketing strategies for small and medium-sized enterprises (SMEs) is an important factor that can contribute to strengthening entrepreneurial activity, qualitative structural changes to SMEs, and ensuring business sustainability and stability. The digital revolution and technologies open up new opportunities for the business sector, improving the quality of communication with customers, while digital marketing (DM) is an important tool that can ensure the competitiveness and effectiveness of actions taken to promote products and services. This article presents the results of a qualitative study of the perception and practice of SMEs in the field of DM conducted by the author in 2019. Twenty entrepreneurs – SME owners in Chisinau were interviewed. The analysis also includes a case study of the BRAVO-MOTORS company practice. The theoretical and conceptual framework of the study is comprised of modern marketing theory, ResourceBased View approach (Wernerelt B.) and Theory of dynamic capabilities (Teece et al.). The results of the study showed that SMEs do not pay due attention to digitalization of business processes, data collection and analysis, optimization of work processes and monitoring of key indicators. The role and importance of developing a marketing strategy is in many cases underestimated, and marketing activities are limited to the use of individual marketing elements only. There is a low level of competence of entrepreneurs in the field of marketing, especially regarding modern marketing tactics and strategies, as well as the lack of an integrated approach to the strategy of promotion and development of the company.

Features of consulting activities in the system of services marketing

The theoretical and methodological principles of consulting activity in the system of marketing services have been developed in the article. The comparison of theoretical and methodological foundations of consulting, individual marketing in conjunction with creativity in modern scientific marketing theory has been conducted. As a result, the author's interpretation of the definition “marketing consulting” has been worked out. The determinants of the organization of consulting activities have been offered in the article. The complex of innovations that help to solve customer problems plays a role as determinants of the organization of consulting activities.The adherence to creativity in providing significant competitive advantages of consulting is the main determinant. The creativity allows generate new knowledge and outputs for a better quality of consulting services. It also opens the way for getting new heights in the area of consulting activities. The integrative complex of methods of marketing advancement of a consulting product has been clearly described in the article. A number of peculiarities of the consulting activity organization in the marketing system of the domestic sphere of services have been highlighted. The key aspects that influence the formation of the marketing strategy direction of consulting companies and the choice of the main tools of marketing positioning of the service offer in the field of consulting have been outlined.

CREATING VALUE WITHIN CONSUMPTION CULTURE

The issue of culture consumption is a particular concern within the modern marketing theory. Culture can be seen as representing a body of knowledge, beliefs, values, attitudes, symbols etc, developed in a certain period of time by a group of individuals, items transmitted with the help of a social learning process to other generations within the group. Thus, the consumption of culture will identify itself with the consumption of any product, service or a combination of them, directly resulted as manifestation of culture, expressions of artistic creativity specific for a certain cultural space. The present paper proposes the analysis of the phenomenon referring to the culture consumption in terms of specific characteristics. The paper reviews the features specific to the modern consumer of culture, the relationship that exists between the individuals’ level of education and the culture consumption and value creation process or augmentation of the intrinsic value of an artistic product as a result of the contribution that the culture consumer can bring himself. The authors highlight the fact that within extremely complex processes which are defining the culture consumption, consumers can assume an active role, becoming on their turn co-participants in the cultural goods and services value creation and transmission. The modern consumer benefits more than ever from the advantages offered by the information technology, being called to respond to major challenges of the postmodernism paradigm in terms of culture consumption. Globalization and other social economic and politic phenomena have profoundly changed the reports between individual and culture, between self and other members of the society, causing synthesis and essential transformations of culture consumption, of culture consumers typologies, and not least of the very forms of artistic expression related to cultural goods and services.

Dialectical libertarianism: the unintended consequences of both ethics and incentives underlie mutual prosperity

In Bourgeois equality, Deidre Nansen McCloskey argues, as advertised in the book's subtitle, that Ideas, not capital or institutions, enriched the world (2016). This ambitious historical project takes its position in opposition to the political left and right. McCloskey understands the left to reflect the opinion that accumulated capital enriched the class by exploiting the working class who will only be included in the capitalist vision of perpetual accumulation as a result of state mandated redistribution. She understands the right to be the contemporary neo-institutionalists who argue that economic growth will be achieved with the appropriate incentives to reward rational action. McCloskey's argument is primarily historical. It spans the seventeenth through twentieth centuries, focusing on the European invention of capitalism and what she argues are the attendant virtues of prudence, temperance, and justice (p. 189). The strength of the project is its re-visitation of the ideals and development of classical liberalism. Its weakness is McCloskey's failure to engage with or recognize that markets and rationality are historically contextualized cultural forms. Hence latter day late-twentieth century political economy represents a different set of challenges to an advocate of bourgeois liberalism than did early modern nobility. The preeminence of rational choice social science threatens the bourgeois that McCloskey seeks to defend as the basis for a prosperous capitalist global order and it provides the most compelling contemporary rationale for markets and politics.In view of the current preeminence of neo-institutionalism and game theory, I find Bourgeois equality particularly illuminating for reminding readers of the theoretical principles characterizing modern liberal market theory such as those evident in Adam Smith's Theory of modern sentiments (1982 [1759]). Thus, in focusing critical attention on contemporary neo-institutionalism, McCloskey provides the means to clarify the distance between contemporary markets and their classical liberal predecessors. One reward for achieving this understanding is to grasp the significant differences between contemporary market ideology and that of early liberalism. Another is to fruitfully pose the question of whether McCloskey is correct: perhaps, beyond incentives, the motivating ideas and animating virtues of agents are directly correlated to whether a market society generates inclusive prosperity?In this review, I quickly rehearse McCloskey's historical argument that modern capitalism is best understood as a period of 'Great Enrichment'. i discuss her core thesis that ideals concerning human dignity are fundamental to inclusive economic growth. After this I address McCloskey's particular intervention in rejecting what she takes to be the left's assertion that redistribution is essential (e.g., Thomas Piketty), and the right's focus on institutional structures to facilitate economic growth and inclusive prosperity (e.g., Douglass C. North). I make the following points. First, I agree that McCloskey is correct in arguing that the neoliberal institutionalists concentrate on incentives to the exclusion of ethical reasons for action. Second, I suggest that the neoliberal institutionalists are more accurately viewed as extending from the right to the left sides of the political spectrum. Finally, I investigate whether perhaps the position McCloskey develops may best be characterized as 'dialectical libertarianism' because both ethical ideals and prudential incentives are fundamental to inclusive free market prosperity. Thus, I invite McCloskey to consider whether on the one hand theorists from both the left and right could endorse ideals alongside with prudential incentives. On the other hand, I ask McCloskey to take a position on whether ideals should be accompanied with a commitment to a minimal safety net, to ensure the inclusion of the least well-off in the opportunities for development. …

The Viable Systems Approach and Its Potential Contribution to Marketing Theory

The contention of the present study is that these approaches, and marketing theory in general, can be augmented by the fundamental principles of the ‘Viable Systems Approach’ (VSA) (Golinelli, 2000, 2005, 2009; Barile, 2000; 2008). The (VSA), which has been developed and widely diffused within the Italian cultural community in the past decade, is a multidisciplinary approach that is linked with network analysis and general systems theory. Despite its solid theoretical foundations, the (VSA) is not strictly a theory; rather, it represents a methodological approach that is useful for the comprehension of complex phenomena involving individuals, communities, business, and society in general. The aim of this contribution is to assist researchers, scholars and practitioners to gain a better understanding of the characteristics and potential of (VSA) for application in modern marketing theory.

Islamic perspectives on marketing

PurposeThe paper aims to conceptually exhibit modern marketing theory from an Islamic perspective.Design/methodology/approachThe paper is conceptual and qualitative in nature. It originated from two mainstream publications. The first belongs to the ones which discuss Islamic economics and Islamic banking and finance. The second source comes from those which discuss Islamic business ethics. Both sources are essential in developing the conceptual theory of Islamic marketing.FindingsReligious teachings, at least Islam, could be applied in the realm of modern marketing theory. Though not all of its elements could be applied in Islamic society, modern marketing theory will provide some elements which could be utilised in developing Islamic marketing theory.Research limitations/implicationsThe lack of papers on Islamic marketing makes the depth of discussion rather limited.Originality/valueAlthough several papers already exist in discussing Islamic business ethics with some elements of the marketing mix, it could be argued that this paper is the first of its kind which specifically discusses the concept of modern marketing from an Islamic perspective.

Real Options 'in' Economic Systems: A Proposed Resolution to Problems in Modern Market and Neo-Classical Economic Theory

“I contend that rational expectations theory totally misinterprets how financial markets operate. Although rational expectations theory is no longer taken seriously outside academic circles, the idea that financial markets are self-correcting and tend towards equilibrium remains the prevailing paradigm on which the various synthetic instruments and valuation models which have come to play such a dominant role in financial markets are based. I contend that the prevailing paradigm is false and urgently needs to be replaced.” George Soros. 2008.This conceptual paper will take on the Soros challenge, using the concepts and methodologies of “real options in economic systems” and adding fresh thinking about data sources and the meaning of risk. It will examine the shortcomings and fallacies associated with modern portfolio and capital market theory and neo-classical economics and ask many disquieting questions. General solutions, based in real options thinking, will be proposed and extended to the outer edge of global economic systems as found in the underground economies of the developing world.

Froot and Stein Revisited Once Again

ABSTRACTHøgh, Linton and Nielsen (2006) showed that the famous result in the award winning paper of Froot and Stein (1998) is not correct in the sense that their result does not follow from their assumptions. In this paper we show that the economic intuition behind the paper of Froot and Stein (1998) is correct and that their result can be obtained when the market is reformulated in a continuous time setting and modern market theory is employed.

Froot and Stein Revisited Once Again

H?gh, Linton and Nielsen (2006) showed that the famous result in the reward winning paper of Froot and Stein (1998) is not correct in the sense that their result does not follow from their assumptions. In this paper we show that the economic intuition behind the paper of Froot and Stein (1998) is correct and that their result can be obtained when the market is reformulated in a discrete time setting, where modern market theory is employed.

Measurement equivalence and applicability of core marketing concepts across Nigerian, Kenyan, Japanese and US firms

Establishing the validity and measurement equivalence of core marketing concepts in the emerging market economies of Africa is a key step in assessing the transferability of modern marketing theory and managerial practice to these countries. However, measurement equivalence issues are rarely addressed in studies of marketing practices in Africa. Accordingly, this study examines the equivalence of core marketing concepts based on interviews of 459 marketing managers from Kenya, Nigeria, Japan and the USA. The results show that optimal scaling analysis of the managers’ evaluations provide more valid and meaningful assessment than that of the raw data. The managers’ evaluations of the concepts revealed amazingly similar or prototypical perceptions of marketing’s core concepts and its applicability in their organizations, despite the profound country environmental differences. It appears that the concepts fall into two cross‐national categories of applicability that permeate the industrialized and developing country categorization. Managerial and research implications are discussed.

Customer satisfaction and profitability: A reappraisal of the nature of the relationship

Delivering customer satisfaction is at the heart of modern marketing theory. There is growing research evidence of the beneficial effects of customer satisfaction in terms of both behavioural outcomes such as loyalty, and performance outcomes such as profit. At the same time, a number of commentators are questioning the value of merely satisfying customers and focusing attention instead on the idea of customer delight. Implicit in these debates is the idea that the assumption of a simple linear relationship between satisfaction and relevant outcomes may no longer be appropriate. Using data from the American Customer Satisfaction Index (ACSI) and firm-level performance, this paper re-examines the nature of the relationship between satisfaction and performance with the specific objective of examining the extent to which such relationships may be non-linear. The results contradict the presumption of non-linearity and suggest that, at least over the observed range of satisfaction scores, the assumption of a linear relationship is acceptable.

Micro-Market Segmentation Using a Neural Network Model Approach

Market segmentation is one of the fundamental conceptual frameworks of the modern marketing theory and practice. Over time, several methods of market segmentation were proposed in the rich literature on the subject. In the past several years, a cluster analysis method was used to segment markets on various consumer behavioral bases. However, the more recent paradigm shift in marketing in favor of relationship marketing, growing importance of global marketing in diverse countries and focus on micro-market segments calls for better methodological tools for micro-market segmentation than the traditional parametric multivariate approaches with their methodological and practical limitations. In this context, in this paper it is proposed that a neural network model can be a viable alternative for micro-market segmentation. The neural network model applicability to micro-market segmentation was demonstrated with an empirical example.

The silk road to international marketing: profit and passion in global business

Taking the stance that business is social first, but with economic outcomes, The Silk Road presents two new models for international marketing which embraces every aspect of success. The first is SILK - Social Informations, Learning and Knowledge. The second - PASSION - builds on that to include corporate purpose and identity and the personal commitment, energies and enthusiasm which fire up the engine for great global performance. This radical new approach is supported by practical examples, modern marketing theory, and the authors' own international business experience. It tackles the very real problems companies face, and offers explanations and practical suggestions for addressing them. The Silk Road captures the essence of how international business really works. It gets to the heart of what drives seccess: People and passion. Marketing is about relationships with global reach. You won't find a more discerning guide to forming and sustaining these complex webs. - George S. Day, The Geoffrey T. Boisi Professor and Professor of Marketing, The Wharton School, University of Pennsylvania, Philadelphia and Styles have done an excellent job. Anyone attempting to conduct international business will recognise only too painfully the problems they identify - and will go on to be grateful for the solutions they describe.- Martin Sorrell, Chief Executive Officer, WPP Group Plc In language at once formal, playful, and at times irreverent, Ambler and Styles place international marketing squarely within the emerging biological view of business success. Utterly refreshing!- Arie de Geus, Author of The Living Company

Book Review: Modern Marketing Theory: Critical Issues in the Philosophy of Marketing Science

Book Review: Modern Marketing Theory: Critical Issues in the Philosophy of Marketing Science