The First Journal – Asia Marketing Federation (AMF)

Disruption And Dystopia: Safeguarding Consumer And Societal Happiness

Syed Ferhat Anwar — Tue, 31 Dec 2024 06:45:15 +0000

Disruption is perhaps the most used and misused word in recent business and marketing literature. Since the advent of 4th Industrial revolution and even more, with the arrival of COVID19, the use of disruption has moved beyond bounds. The other discussion has been surrounding the word dystopia. Though the word dystopia surrounds the world of wretchedness, dehumanized and having the elements of mad egoism, recent literature has used the word dystopia to portray the strategic direction of business as they serve their customers in this disruptive environment.

The argument that is being lodged by this article is focused on the idea that disruption is only worthwhile if they intend to fight dystopia. If disruption fails to impact human behavior with a purpose of reducing dystopian environment, it will fail to bring about sustainable consumer and societal happiness. This article looks at the strategic dimension marketers need to follow to manage disruption to fight dystopian mindset of marketers with an outcome resulting in sustainable consumer and societal happiness.

Customer Relationship Management Effectiveness (CRME), Customer Satisfaction, And Customer Loyalty

Benyamin Henrie Haryono & Lina Salim — Tue, 31 Dec 2024 06:45:15 +0000

Deregulation of banking in Indonesia in the 1980s had an impact on changes in the banking industry, particularly in market structure and competition or the level of competition. The deregulation policy began in 1983 to 1990. Previously, restrictions on banking operations were regulated by the government. The state banks at that time were not profit-oriented banks but only became an extension of the government regime (McLeod, 1999).

After the deregulation or liberalization policies began to be implemented, the central bank controled the interest rates as the result lending began to be reduced or even eliminated. Other consequences were reducing the establishment of branch offices and increasing market entry barriers. This policy further increased competition in the banking sector in general(Manurung & Fitrawaty, 2016). The banking industry has certain characteristics that are very different from other industries. Clear regulations and laws are needed to be able to regulate it so that it runs according to its main target, namely towards a healthy banking. Tight business competition (overcompetition) in the banking industry will force banks to be creative and always try to keep their customers from switching to other banks.

Currently, most customers are no longer interested in banks that offer various kinds of gifts/gimmicks. Customers focus more on their choice of banks that have bank image or hold the predicate “safe and healthy” and in addition there are other priorities that are no less important, namely service quality and good relationship. Therefore, banks must also be able to create marketing strategies based on alot of efforts to create value in the relationship between the bank and its customers, which is known as Customer Relationship Management(CRM). CRM is a combination of people, processes and technology, whose successful implementation depends on a balanced integration and approach between people, processes, and technology (Chen & Popovich, 2003).

Effect Of Social Media Marketing On Brand Equity Of Private Commercial Banks With A Special Emphasis On Sampath Bank PLC

Nuwan Pathirana & Nalin Abeysekera — Tue, 31 Dec 2024 06:45:15 +0000

ABSTRACT
This study was carried out to find the effect of social media marketing on brand equity of private commercial banks with a special emphasis on sampath bank plc. The banking landscape is rapidly changing and digital based business models will be playing a pivotal role in the future banking. It is essential for bankers to identify this disruptive environment and plan ahead to sustain the business. The study has taken a deductive approach of reasoning where the researcher has instigated the research by forming hypotheses based on the theoretical framework. Hence, the empirical study is designed to validate each of the above hypotheses developed in the study. Data was collected from 184 respondents in different demographic and geographic profiles. The study clearly explained that there is a significant relationship between social media marketing and brand equity through four independent variables as exposure, customer engagement, fan loyalty and influence.

Economic Effects Of Asean Integration On Household Living Standards

En-Chi Su & Lichung Jen — Tue, 31 Dec 2024 06:45:15 +0000

ABSTRACT
In recent decades, southeast asian countries are moving toward a more integrated regional economy. The wide development gap and asymmetric impacts among countries highlight the importance of studying integration effects for individual member states. However, the reality of limited data among these countries and multilevel data structure cause severe problems for conventional estimation methods. In this research, we demonstrate three types of hierarchical bayesian models to analyze the impacts of economic integration and the intermediate effects of domestic infrastructures. The best results from the non-centered parameterization model verify previous research showing “the rich get richer and the poor get poorer” during the integration process. More advanced economies in the region benefit from more connected trade relationships and the inflow of migrant workers. In contrast, less developed countries suffer from the outflow of capitals and brain drain. However, we also find promising evidence that governments can improve living standards through developing information communication technology infrastructures, which can facilitate additional positive contribution toward living standards during the process of integration.

Marketing Mutation: The Case Of Thailand

Somchat Visitchaichan, Ph.D. — Tue, 31 Dec 2024 06:45:15 +0000

Results from the Microsoft Digital Transformation Study among some 4,000 respondents worldwide from various industries ranging from automotive, insurance, financial service, media & entertainment, healthcare and many more showed that 48% of the people surveyed believed that their current business models have less than 5 years to run and 14% said “less than 2 years”. This thus has critical marketing implications for the development of our marketing professionals. From a people capability development perspective, we are often challenged by the questions of what skills and knowledge we need to embrace from our marketing resources in order to survive in today’s rapidly changing and disruptive business environments as well as to grow our businesses financially and significantly. Answers to these questions are often subjective and in many organizations’ questions are left unanswered. Today’s technology produces vast amounts of data and complexity in business management for organizations, while at the same time, offers simplicity and higher satisfaction to consumers. In order to move ahead with such rapidly changing environments and technologies, while staying competitive in the market, organizations need empathetic marketing professionals who have a good understanding of how technology and data can add value to marketing initiatives. An organization that pays attention to it – rather than relying on instinct – identifies and brings opportunities to the market faster. My recent experience working with hundreds of leading marketing professionals in Thailand suggests that marketing leaders in today’s business disruptive world need to transform and adapt themselves to

How Stakeholder Pressures Affect Csr Engagement Of Chinese Small And Medium-sized Enterprises In Ethiopia?

Semma Tiruneh Shiferaw, Dalu Fang, Xiaoling Guo — Tue, 31 Dec 2024 06:45:15 +0000

The relationships between companies’ stakeholder pressures and CSR implementations have been extensively studied in recent years. The literature on CSR to date has generated important insights into different and distinctive enterprises’ stakeholder pressures that are influenced by corporate decisions and influence CSR practices. For instance, Berman, et.al. (1999) and Henriques & Sadorsky (1999) have suggested that firms face pressures from four major stakeholder groups: community stakeholders, regulatory stakeholders (governments and legislatures), organizational stakeholders, and media. More recently, Kassinis and Vafeas (2006) have empirically shown that varying stakeholder characteristics and the dependencies associated with them are related to varying levels of the organization’s environmental engagement as well as environmental performance. However, Marquis & Qian (2014) showed that listed firms’ responses to stakeholders’ pressures have decoupling risk by adopting symbolic rather than substantive actions, because the ownership of the enterprises or background of CEO.

Despite these findings, the relationship between stakeholder pressures and different dimensions of CSR is not consistent under different theoretical perspectives (Klassen & Whybark, 1999; Majumdar & Marcus, 2001; Tang, et al., 2015; Marquis & Qian, 2014). Different stakeholder groups inherently have different levels of resources and expectations, and thus they may affect corporate CSR engagement in the business practices. Meanwhile, corporations in different countries and different industries might interpret and implement CSR in different ways, due to varying cultural and institutional characteristics. What is more, most of the existent discussions about the influences of different stakeholder groups on CSR are made under the context of developed economies or with large, listed firms, and the CSR of small and medium-sized enterprises (SMEs), and/or those on emerging markets are still underexplored…