Industrial Sales Research Articles

Does Covid-19 Pandemic Change the Consumer Purchase Behavior Towards Cosmetic Products?

The Covid-19 pandemic has generally affected the cosmetic industry's marketing and sales. Drastic changes happened, and the sales now rely more on online sales. This study aimed to analyze the purchase behavior of facial serum cosmetic products before and during the Covid-19 pandemic. The sampling technique applied purposive sampling. Data analysis used Structural Equation Modelling - Partial Least Squares (SEM-PLS). Data were obtained from 200 respondents in the Jabodetabek area from April to May 2021, but only 163 were included in the analysis. The results show that the conditions before and during the pandemic are significant differences. Before the pandemic, co-creation, communal activation, conversation, halal awareness, and reference groups influenced the purchase behavior. On the other hand, though, reference groups did not affect the purchasing behavior during the pandemic. Therefore, business people in the cosmetics field can focus on co-creation and conversation.

THE EFFECT OF WORK STRESS AND FINANCIAL REWARD TOWARDS SALES & MARKETING WORK PERFORMANCE

The purpose of this research is to focus on examining the effect of work stress and financial rewards towards work performance in the hotel industry in Indonesia. This research employs quantitative research with hypothesis testing. 100 employees in the sales & marketing division in the 5-star hotel industry were used as samples in this study. A questionnaire was used as the research instrument in this study. Structural Equation Modelling (SEM based on covariance) was used to analyse data. The study's findings show that, during the pandemic, financial reward factor has no effect on work performance in the hotel industry's sales and marketing department. However, work stress is a factor that has an impact on job performance.Keywords: work stress, financial reward, work performance, hotel industry

대형마트 폐점이 주변 상권 및 고용에 미치는 영향

대형마트 폐점이 주변 상권 및 고용에 미치는 영향

Development Process of Second-hand Luxury Branded Goods Sales Industry

Development Process of Second-hand Luxury Branded Goods Sales Industry

Automation of Best-Fit Model Selection using a Bag of Machine Learning Libraries for Sales Forecasting

Sales forecasting became crucial for industries in past decades with rapid globalization, widespread adoption of information technology towards e-business, understanding market fluctuations, meeting business plans, and avoiding loss of sales. This research precisely predicts the automotive industry sales using a bag of multiple machine learning and time series algorithms coupled with historical sales and auxiliary features. Three-year historical sales data (from 2017 till 2020) were used for the model building or training, and one-year (2020-2021) predictions were computed for 900 unique SKU's (stock-keeping units). In the present study, the SKU is a combination of sales office, core business field, and material customer group. Various data cleaning and exploratory data analysis algorithms were implemented over raw datasets before use for modeling. Mean absolute percentage error (mape) were estimated for individual predictions from time series and machine learning models. The best model was selected for unique SKU's as per the most negligible mape value.

Some Consideration Regarding Strategy of Market Planning

The heart of future segmentation system for industrial markets lies in the ability to distinguish between buying strategies in customer and prospect firms. The author’s observation that customers’ markets and marketing strategies provide a surrogate for buying approaches gives us the foundation for a usable system. Not one that applies to every industrial sales situation but one that will apply where demand is derived from demand for the customer’s products. Since this represents the majority of industrial sales situation we are able to segment with more effect that with the limited tools available up till now. We can observe how marketing channel strategies and promotions differ across these market types. And, since marketing strategy relates closely to buying, we can segment accordingly. Looking to the future development of industrial segmentation strategies we might add other information of value in targeting. These include: financial information and creditworthiness, ownership information, sector growth and regional growth. The paper provides us with the mean to target on basis of buying strategy as well as firm demographics. Much remains to be done and the authors note limitations to their research, but here is a method for segmentation that will improve industrial marketing planning and targeting.

Improvement of Innovative Projects Management and Revival of Innovation Activities of Ukrainian Enterp

Introduction. The wider application of the benefits of project management in the organization of innovation is seen as an effective tool for revitalizing the innovation activities of modern enterprises. Innovative project is a modern form of organization of innovation processes, which allows to generate intellectual added value to increase innovation and competitiveness of enterprises. The expediency of improving the management of innovative projects on the basis of increasing their intelligence to increase the innovation and competitiveness of enterprises is substantiated.Purpose is to substantiate the directions of improving the management of innovative projects to revive the innovative activity of Ukrainian enterprises.Methods. In the process of research a set of general scientific and special methods was used. In particular, historical and logical methods were to study theoretical foundations of project management approaches in the organization of innovation; analysis and synthesis - to compare the main approaches to the interpretation of concepts and methods of calculating the rate of intelligence of an innovative project; correlation-regression analysis - to build predictive models of changes in innovation activity of industrial enterprises and sales of innovative products; graphic method - for visual presentation of the results of analytical research; abstract-logical - for theoretical generalization and formulation of conclusions.Results. Research proves that innovative projects are a modern form of organizing innovative activities in the context of increasing crisis, rapid digitalization and globalization of economic processes, which can provide a constant increase in innovation and competitiveness of enterprises. The implementation of an innovative model of doing business requires the search for progressive ways to improve the management of innovative projects of enterprises. The concept of “management of innovative projects as an impact on groups of people in order to organize and coordinate their activities aimed at strengthening the intellectual capacity of the project, which provides intellectual added value, increasing innovation and competitiveness of the enterprise” has been clarified. The forecast models of changes of innovatively-active industrial enterprises of Ukraine and dynamics of realization of innovative production of the enterprises for an estimation of efficiency of the organization of innovative activity at micro level are constructed. The necessity of reviving the processes of development and implementation of innovative projects as an important factor in increasing the innovative activity of enterprises is proved. The factors that have a negative impact on the interest of enterprises in the implementation of innovative projects, which exacerbates the decline in innovation activity in the Ukrainian business sector, have been systematized. The directions for improvement of innovative projects management aimed at strengthening the intellectual capacity of the project, generating intellectual added value, which allows to intellectualize production and commercial processes, revive innovation activity and increase the innovation of the enterprise are substantiated.Discussion. Transformation of economic systems, increasing the number and scale of today’s challenges will require further strengthening of enterprise innovation, due to the need to form competitive advantages, increase the environmental and social component of business as a result of innovative projects. The expediency of project management development in the organization of innovative activity of Ukrainian enterprises is actualized. The directions for improvement of innovative projects management in order to increase their intellectual and science-intensiveness for the decision of problems of revival of innovative activity of the enterprises are substantiated.

The ambivalent role of monetary sales incentives in service innovation selling

AbstractComplex service innovations constitute a cornerstone in the strategy of numerous industrial companies. The industrial sales force assumes an important role in the selling of these complex service innovations. For firms a key challenge in this respect resides in ensuring the sales force's motivation for the selling of such innovations and effectively solving customers’ business problems. Past research frequently discussed monetary sales incentives as an effective tool to reinforce desired employee behaviors, but, to date, the discussion has failed to produce conclusive guidance for practitioners as to whether monetary sales incentives in fact can facilitate selling of complex service innovations. To clarify the effects of monetary sales incentives in this respect, we draw on self‐focus theory to disentangle how complex service innovation selling is shaped by the interplay of salesperson service incentives (i.e., the extent to which variable compensation depends on service turnover) and salesperson share of variable compensation (i.e., the percentage of compensation that depends on performance). To test these interactive effects, we use a multiple‐source data set including 294 salespeople, and match objective firm data. The results reveal that when service incentives are high, the share of variable compensation exhibits an inverse u‐shaped effect on a salesperson's problem‐solving behavior, which is an important predictor of innovative service selling success. In addition, the share of variable compensation increases work effort, which in turn drives innovative service selling success. These findings shed light on the intricate “human”, employee‐related side of service innovation management and provide actionable implications for managers how to increase their firms’ innovative service selling success.

Using DID Model to Analyse the Impact of Vehicle Purchase Tax on the Sales of Alternative Fuel Vehicle

At present, countries in the world are paying more and more attention to the importance of green development and sustainable growth, and taxation plays a very good role in regulating it. In China, the role of taxation policy as a means of stimulating green consumption is becoming more and more significant. This paper starts with the vehicle purchase tax and uses the Difference in differences (DID) model to study its impact on the alternative fuel vehicle industry. The purpose of the research is to use the method of empirical research to test the impact of preferential vehicle purchase tax policies on the sales of alternative fuel vehicles using automobile production and sales data as samples. This research is helpful to enrich the research on preferential policies of vehicle purchase tax, and provides a good reference for empirical research on the impact of vehicle purchase tax on the sales of the automobile industry. Researched the impact of tax incentives for automobile purchase tax, and proposes constructive guidance with China’s specific situation. It has an important impact on promoting China’s further improvement of the tax system reform and the development of the alternative fuel vehicle industry, and also plays an active role in supporting macroeconomic transformation and development.

Creative Economy as a Key Element of Sustainable Territorial Development

The structure of the revenue side of the budget in the Russian Federation has been undergoing changes in recent years. If earlier, during the Soviet Union, the budget was mainly funded through tax revenues from industrial enterprises and sale of various raw materials for export. Later for several decades in various regions of the country, most industrial enterprises did not function, and people who previously worked in them began to work for small business or moved to other regions. In these conditions, funding the budget and raising the standard of living of the public was only possible through the development of non-production sectors of the economy. The article used empirical research methods such as analysis and synthesis, comparison, generalization, etc. to review available research, and firsthand experience of the authors of the article who developed creative spaces within the framework of various competitions held by the Agency strategic initiatives to promote new projects. In the past few years, support for industries related to the so-called creative economy has been gaining weight at the federal level. The article analyzed multiple publications on the topic and provided a rationale for the influence of non-productive creative sectors of the economy on the development of regions. In particular, due to the development of the tourism industry, the Baikal region has every chance of stable economic growth. As an example, there is project to develop rural tourism in the Republic of Buryatia as part of the competition for tourist and recreational territories, held in the Russian Federation in 2020 by the Agency for Strategic Initiatives, is given. Based on the study and the experience gained from participating in the development of tourist and recreational sector, we suggest that there is a possibility of increasing the budgetary, commercial and social efficiency of the development of territories by supporting creative industries.

Evaluasi Performa Keuangan dengan Du Pont System dan EVA PT Matahari Putra Prima Tbk

The level of sales of Indonesian retail industry decreased, this research aims to determine financial performance using the Du Pont System and EVA approach in PT Matahari Putra Prima Ltd period 2015-2019, to determine the effectivity and efficiency as well as the ability to create value added for company. The research method used quantitative descriptive method using secondary data obtained from the Company’s official website, in the form of the financial statements of PT Matahari Putra Prima Ltd period 2015-2019. The result show the value of ROA and ROE there is fluctuation and have negative value on 2017-2019, this show that the company get a profit decline and below the industry standar average. That is show the Company less effectiveness in manage assets and control expense incurred by Company. The Value Added of Campany not created on 2015 but on 2016-2019 Company able to create value added.

The Value of the Structural Power of the Chief Information Officer in Enhancing Forward-Looking Firm Performance*

ABSTRACT Drawing on the resource-based view (RBV) of the firm and the top management team (TMT) structural power framework, we investigate the relationship between Chief Information Officer (CIO) structural power and forward-looking firm performance. In addition, we examine the contingency roles of market turbulence, industry IT intensity, and operating efficiency in shaping the above relationship. Using a sample of 7,185 firm-year observations and a panel fixed-effects model, we find that CIO structural power is positively associated with forward-looking firm performance (proxied by Tobin’s q). Further, our results suggest that the benefits of CIO structural power are higher under greater market turbulence, higher industry IT intensity, and greater operating efficiency. Our empirical results imply that the board of directors should consider endowing CIOs with a higher structural power, especially when an organization faces greater volatility in industry sales, competes in a more IT-intensive industry, and operates at a more efficient level. This research contributes to the RBV literature and integrates RBV and structural power frameworks to offer newer insights into the contemporary role of an important TMT member, the CIO.

Co-regulation and alcohol industry political strategy: A case study of the Public Health England-Drinkaware Drink Free Days Campaign

This article examines the Drink Free Days (DFD) campaign run by Public Health England and the industry funded alcohol education charity, Drinkaware, in eight English regions in 2018–2019. More specifically, it examines uses, and usefulness, of the campaign to the alcohol producers which fund Drinkaware. It draws on 36 semi-structured interviews with policy actors and a framing analysis of industry social media accounts and news coverage of the campaign. Industry-associated bodies such as Drinkaware have been identified as key components of alcohol industry strategies to influence policy and shape the regulatory contexts in which they operate in three ways. First, funding such bodies forms part of corporate social responsibility programmes which allow companies to position themselves as legitimate policy actors and ‘part of the solution’ to alcohol related harms. Second, reliance on industry funding incentivises governments to co-operate with industry actors and provides leverage in policy debates. Third, their programmes absorb policy bandwidth and deflect from more effective, evidence based interventions (e.g. on pricing and advertising) which affect industry sales and profits. This is particularly effective if the perception of independence from the industry is created. The analysis presented below suggests that the DFD was not used explicitly by the industry actors for public relations purposes. However, it was useful to their broader strategic aims. It reinforced the position of Drinkaware as a key policy actor and promoted the particular, industry-favoured understanding of alcohol harms and their solutions which it promotes. This is in keeping with the previous insights from international research literature on corporate political activity in health harming industries which finds that policy influence is often subtle, indirect and designed to embed organisations within the policy architecture. It suggests that government agencies should proceed with great caution in entering into such partnerships with industry associated bodies.

Hybrid Offerings Sales Capability: Conceptualization, Scale Development and Validation

AbstractManufacturing‐oriented firms increasingly shift from transaction‐focused to value‐focused selling, and gain competitive advantages by selling innovative product–service bundles, known as hybrid offerings. The key purpose of this research is to develop a measure of hybrid offering sales capability (HOSC). In particular, following an established scale‐development paradigm, this study develops a measure to indicate firms’ capability to sell hybrid offerings in business‐to‐business markets, and it provides insights into the antecedents and consequences of such a capability. The conceptualization of HOSC emerged from a case study involving two companies and comprises four dimensions: recruiting, training, incentivizing and applying. A rigorous evaluation of the initial item pool produces a 10‐item, four‐component HOSC measure embedded in a conceptual model of three innovation‐related antecedents and firm performance as a key outcome. Tests of experimental, nomological and predictive validity were conducted using samples of 155 professionals, 135 decision‐makers in small and medium‐sized companies, and 164 industrial sales managers. The findings offer relevant implications for both research and the management of hybrid offerings at the sales level, which we summarize in the form of a future research agenda.

육묘 유통 실태와 업체의 판매액 결정요인 분석

The study is aimed at analyzing the sales determinants of the commercial seedling industry and deriving policy implications by using survey statistics of commercial seedling industry, which is a national approval statistics. For this purpose, ordinary least square and multinomial logit model are applied. According to the analysis of the determinant of sales of the commercial seedling industry, the type of a full-time of the commercial seedling company more than 10 years of experience, education of workers and representatives over college graduates, and the possession of germination rooms are the main factors. In addition, the variables identified by the main factors are all measured in the sign of positive and are analyzed to have the effect of increasing the sales volume of the firms. As estimated by the multinomial logit model, companies with relatively large sales show significant results in the case of full-time firms. It was analyzed that the long experience and high educational background of the workers (including the representatives) of the commercial seedlings company had a significant impact on the sales. Facilities such as germination rooms, are also estimated to be a major factor in the increase in sales. Based on the analysis results, some policy implications are as follows. It is necessary to provide policy support for small businesses to leap forward into mid-sized firm. The issue of manpower supply and demand with expertise is also an important policy task to be dealt with in a significant way. Facility equipment is expensive, so it is difficult for small businesses to handle it. Therefore, it is also necessary to develop and distribute seedling facilities as well as prepare measures such as support for purchasing and installation funds.

The Relationship between Expansion for the e-Vehicle Market and User Communications: The Nissan Leaf Perspective

Purpose - This study identifies a big data analysis of online user comments from social media and describes product sales volume based on media richness theory (MRT) and media synchronicity theory. Design/Methodology/Approach - This study utilized online user comments for electronic vehicles like the Nissan Leaf. The data was used as clustering various sales topics for developing market strategy. Using Word2Vec and Dynamic Topic Modeling, we developed important topics related to Nissan’s market performance with social network analysis. Findings - We found online user responses affected vehicle sales performance with comments on social network sites. Also, dimensions for the communication process on social network services were different from user behaviors. Research Implications - We found online user comments strongly affected automobile industry sales. Thus, firms should consider the power of social network services in the expansion of market volume with conveyance and convergence processes centered around big data in advertisements.

The Impact of the Pandemic on the Global Economy

The pandemic has caused huge damage around the world. To date, more than 100 million people have been infected, more than 2 million have died, bringing us to self-isolation and causing a halt to economic activity as countries have imposed strict travel restrictions to halt the spread of the virus. The economic losses caused by the pandemic, the biggest economic shock in decades. The economic losses caused by the COVID-19 pandemic are largely driven by falling demand, meaning that consumers can no longer buy the goods and services available in the global economy. This situation is clearly evident in such affected areas as tourism and the hotel sector. To stop the spread of the virus, countries have imposed travel restrictions, which means that many cannot purchase tickets for holidays or business meetings. Such a reduction in consumer demand leads to the loss of planned revenue for airlines, they have to reduce the cost of flights, reduce the number of expenses. Without government support, the airline will eventually have to cut staff to cut costs, too. Despite the difficult situation in which the world economy finds itself, there are reasons to avoid the worst-case scenario. From past crises, governments have come to the conclusion that a recession caused by falling demand can be overcome by public spending. Accordingly, the authorities of many countries are increasing the assistance of their citizens and the availability of enterprises to cash, which is necessary for the maintenance of personnel during the pandemic. In addition, as practice shows, some industries benefit even in the face of a pandemic, for example, online retail sales, whose profit in 2020 was $ 3.9 trillion, as well as retail sales of food, government and medical industries have some economic growth that provides compensation for losses. Keywords: Pandemic, COVID-19, World Economy, Globalization, Crisis.

Commentary: practical insights to ensure sales force digitalization success: the educator’s perspective

The authors evaluate the implications of Zoltners and colleagues (2021) for contemporary sales education. They commend Zoltners and colleagues for their unique angle in exploring the path to success for sales digitalization through both common reasons of failure and key success factors. Given the primary objective for sales educators to equip students for future employment in the sales industry, addressing the insights and recommendations Zoltners and colleagues present in the education process is necessary. Digitalization in sales continues to evolve and as a result, many practitioners and academics are in a state of “building the bicycle while riding it.” In light of this shift, we believe academic institutions have an opportunity to incorporate several of the insights from the article into their sales courses. In this commentary, the authors address four areas that this article can influence: (1) course curriculum and the case for new content, (2) experiential education and the role of adaptation in selling, (3) career-framing so students have a broader understanding of future sales roles, and (4) cross-discipline partnering in order to minimize silo-based learning.

온라인 패션 리테일링의 사이즈 추천 기술 동향

As the sales of the entire fashion industry are declining due to the Covid-19 pandemic fashion retailers introduce retailing technologies to enhance the shopping experience online. The Size Recommendation Technology(SRT) is one of the retailing technologies to support customers by recommending customers the right size by using data analysis. This study classifies the size recommendation technologies according to data types and finds the implications for online fashion retailers. 5 types of size recommendation technologies are as follows. First the size recommendation technology with virtual try-on using customer body size data, this model is meaningful as it helps customers imagine the fit and size of the product by using an avatar made with the customer

PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS, LEVERAGE, DAN SALES GROWTH TERHADAP PENGHINDARAN PAJAK PADA PERUSAHAAN SEKTOR INDUSTRI DASAR DAN KIMIA YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016-2019

The purpose of this research is to identify the consequences of industry dimensions, profitability, Leverage, and Sales growth to tax avoidance. This research focused on basic industrial sector companies as well as chemicals listed on the Indonesia Stock Exchange in the period 2016-2019. The number of observations of 52 research illustrations obtained by nonprobability sampling procedure is purposive sampling method. The analysis method used in this study is the regression of panel information with the help of E-views 9. 0. The results of the analysis show that the size of companies with profitability has a significant effect on tax avoidance, while variable Leverage and Sales growth show that it has no significant effect on tax avoidance. (KTFR)