The authors highlight the need for and develop a framework for engagement by reviewing the relevant literature and analyzing popularpress articles. They discuss the definitions of the focal ...constructs—customer engagement (CE) and employee engagement (EE)—in the engagement framework, capture these constructs' multidimensionality, and develop and refine items for measuring CE and EE. They validate the proposed framework with data from 120 companies over two time periods, and they develop strategies to help firms raise their levels of CE and EE to improve performance. They also observe that the influence of EE on CE is moderated by employee empowerment, type of firm (business-to-business B2B vs. business-to-consumer B2C), and nature of industry (manufacturing vs. service); in particular, this effect is stronger for B2B (vs. B2C) firms and service (vs. manufacturing) firms. The authors find that although both CE and EE positively influence firm performance, the effect of CE on firm performance is stronger. Furthermore, the effect of CE and EE on performance is enhanced for B2B (vs. B2C) and for service (vs. manufacturing) firms.
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BFBNIB, INZLJ, IZUM, KILJ, NMLJ, NUK, OILJ, PILJ, PNG, SAZU, UKNU, UL, UM, UPUK, ZRSKP
In this study, we highlight the need and develop a framework for customer engagement (CE) by reviewing the marketing literature and analyzing popular press articles. By understanding the evolution of ...customer management, we develop the theory of engagement, arguing that when a relationship is satisfying and has emotional connectedness, the partners become engaged in their concern for each other. As a result, the components of customer engagement include both the direct and the indirect contributions of CE. Based on the theoretical support, our proposed framework elaborates on the components of CE as well as the antecedents (satisfaction and emotion) and consequences (tangible and intangible outcomes) of CE. We also discuss how convenience, nature of the firm (B2B vs. B2C), type of industry (service vs. product), value of the brand (high vs. low), and level of involvement (high vs. low) moderate the link between satisfaction and direct contribution, and between emotions and indirect contribution of CE, respectively. Further, we show how customer engagement can be gained and how firm performance can be maximized by discussing relevant strategies.
Global Customer Engagement Gupta, Shaphali; Pansari, Anita; Kumar, V.
Journal of International Marketing,
03/2018, Volume:
26, Issue:
1
Journal Article
Peer reviewed
Advances in technology and analytics have stimulated competition in the global marketplace and augmented interactions among customers globally. It is therefore imperative for firms to understand the ...behavioral activities of customers around the world to keep them engaged. To do so, the authors recommend that managers familiarize themselves with countries' cultural and economic factors. The authors use Hofstede's cultural dimensions and country-level economic factors to explain the national differences in customer motives while engaging with the firm. This study explains that national cultural dimensions exert an effect on the relationships in the customer engagement (CE) framework proposed by Pansari and Kumar (2017). The authors discuss and develop research propositions on the impact of the relevant cultural and economic dimensions that affect the various proposed relationships in the original CE framework. Through this modified CE framework, they introduce the concept of global customer engagement to help firms design marketing strategies aligned with a country's culture and economy to obtain improved CE and enhanced firm performance.
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BFBNIB, IZUM, KILJ, NMLJ, NUK, OILJ, PILJ, PNG, SAZU, UKNU, UL, UM, UPUK
Customer lifetime value (CLV), a metric used in many industries, is based on the cumulated cash flow a customer accrues during his or her lifetime. Firms have used CLV as a basis for formulating and ...implementing customer-specific strategies; however, these can vary across countries because of each country's cultural and economic influences. Typically, CLV is computed with three components: purchase frequency, contribution margin, and marketing costs. In this study, the authors demonstrate that national cultural dimensions affect the drivers of purchase frequency and contribution margin and that economic factors influence the components of CLV directly. They use customer-level transaction data from a global retailer for a random sample of customers in 30 representative countries over a six-year period. They estimate the model using a seemingly unrelated regression approach while accounting for the heterogeneity of customers across countries and the endogeneity of marketing costs incurred by the firm. The results indicate that global retailers should pay attention to the dimensions of national culture and economic conditions because of their differential impact on CLV.
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BFBNIB, IZUM, KILJ, NMLJ, NUK, OILJ, PILJ, PNG, SAZU, UKNU, UL, UM, UPUK
For the past two decades, employee engagement has been a topic of interest both in the academic literature and among managers. Initially, it was thought of as personal engagement with the ...organization and indicated that an employees focus was on the performance of assigned tasks. Over the years, several definitions have emerged. Some researchers focused on worker burnout, the idea being that employees who are not experiencing burnout are engaged. Others went beyond burn-out and fatigue to focus on the basic needs at a workplace, noting that if employees are engaged, then they are positive about their work being meaningful, their workplace being safe and the availability of sufficient resources for completing tasks. Still others explored the emotional side of work and provided a comprehensive definition that focused on the cognitive, emotional and behavioral components associated with an individuals performance. Recognizing that there were various meanings attributed to employee engagement and no overall consensus about what it involved, we set out to examine how employee engagement was practiced in the business world. We conducted qualitative research in North America, South America, Asia, Africa and Europe, interviewing more than 200 HR and marketing managers from 52 companies in the hotel, telecommunications, airline, retail and banking industries.
Marketing’s role in multi-stakeholder engagement Aksoy, Lerzan; Banda, Sandhya; Harmeling, Colleen ...
International journal of research in marketing,
06/2022, Volume:
39, Issue:
2
Journal Article
Peer reviewed
In 2019 the CEOs of more than 180 of the largest U.S. firms signed a statement of corporate purpose indicating that corporations are responsible for providing economic benefits to all stakeholders, ...not just shareholders. Although stakeholder theory states that there are several stakeholders (internal and external) whose continuing participation affects a firm’s sustainability and long-term profitability, the marketing literature has focused primarily on customer engagement. This research argues for a broadened focus by marketing scholars and introduces a stakeholder engagement framework based on a triangulation approach including a systematic review of marketing research from a stakeholder perspective, the results of a survey of 254 editorial review board members from top marketing journals, and business case examples. The framework identifies three dimensions of firms’ stakeholder engagement strategies (stakeholder recognition, support, and dialogue) linked to stakeholder responses (stakeholder contribution to the firm or retaliation) that ultimately influence firm performance (financial, reputation, and risk). Two core propositions of multi-stakeholder engagement provide a foundation for a detailed future research agenda for marketing.
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GEOZS, IJS, IMTLJ, KILJ, KISLJ, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, UILJ, UL, UM, UPCLJ, UPUK, ZAGLJ, ZRSKP
Do stronger relationships with customers (customer-company relationships CCR) help firms better weather economic crises? To answer this question, we examine firm performance during the stock market ...crashes associated with the two most severe economic crises of the last 15 years—the protracted Great Recession crisis (2008–2009) and the shorter but extreme COVID-19 pandemic crisis (2020). Juxtaposing the predominant expected utility theory perspective with observed deviations in investor behavior during crises, we find that both pre-crash firm-level customer satisfaction and customer loyalty are positively associated with abnormal stock returns and lower idiosyncratic risk during a market crash, while pre-crash firm-level customer complaint rate negatively affects abnormal stock returns and increases idiosyncratic risk. On average, we find that one standard deviation higher CCR is associated with between $0.9 billion and $2.4 billion in market capitalization on an annualized basis. Importantly, we find that these effects are weaker for firms with higher market share during the COVID-19 crash, but not during the Great Recession crash. These results are found to be robust to a variety of alternate model specifications, time periods, sub-samples, accounting for firm strategies during the crises, and endogeneity corrections. When compared to relevant non-crash periods, we also find that such effects are equally strong during the Great Recession crash and even stronger during the COVID-19 pandemic crash. Contributing to both the marketing-finance interface literature and the nascent literature on marketing during economic crises, implications from these findings are provided for researchers, marketing theory, and managers.
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EMUNI, FIS, FZAB, GEOZS, GIS, IJS, IMTLJ, KILJ, KISLJ, MFDPS, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, SBMB, SBNM, UKNU, UL, UM, UPUK, VKSCE, ZAGLJ
Endorsement of a brand or sports team by a sports celebrity has been thoroughly researched within the context of sports marketing. However, the recent phenomenon of non-sports celebrities owning ...sports teams has received little research attention. This study uses a survey of Indian respondents in the context of a major sport (cricket) in India to explore the impact of a non-sports celebrity owning and endorsing a sports team on consumer attitudes towards the team and their sponsors. Findings indicate that the level of credibility assigned to the celebrity significantly affects consumer attitudes towards the team and its sponsors. The results suggest that managers of sports teams and their sponsors should consider a celebrity owner as an endorser, as long as that celebrity has high credibility.
In this study, we establish how marketing can play a significant role in extracting value from the crucial management construct—employee engagement (EE). To do so, first, we discuss the construct of ...EE through a detailed review of the relevant literature and the insights gleaned from our interviews with managers from across five continents. Second, we provide a formal definition for EE, develop scales for measuring EE, and then argue how enhancing EE can improve firm performance. After refining the measurement scales, we collect data from two countries and analyze the process of EE by conducting a path analysis and validating the findings from the popular press articles. This research provides guidance to managers on measuring and managing the different factors that drive employee engagement, thereby generating a blueprint for enhancing the firm’s service delivery, customer satisfaction, and resultant firm performance.
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CEKLJ, EMUNI, FIS, FZAB, GEOZS, GIS, IJS, IMTLJ, KILJ, KISLJ, MFDPS, NLZOH, NUK, OILJ, PNG, SAZU, SBCE, SBJE, SBMB, SBNM, UKNU, UL, UM, UPUK, VKSCE, ZAGLJ
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