Todey, insurance, as an economic tool, has become a major industry in the country that provides services to various classes of society. Insurance has a key role in strengthening the economic power of ...the community, providing security and confidence at the community level, as well as expanding the production and service activities. In this research, we have tried to investigate the effect of Relationship marketing Strategies on customer perceptions about the quality of services and his gratitude in private insurance companies. This is an applied and descriptive study and has been performed by survey method. The research population is 389 the customers of private insurance companies of Tehran selected by random sampling method. The questionnaire based on Likert spectrum was used in order to collect information. Structural equations’ modeling was used to analyze research data with Lisrel software. Based on the findings of the research, it was concluded that there is a significant and positive relationship between the variables of financial, structural and social ties with the perceptions of customers about service quality and their gratitude. Also, Relationship marketing strategies has a positive and significant effect on customer gratitude and customer perception of service quality in private insurance companies.
Previous research on mergers and acquisitions (M&A) has neglected marketing issues by and large. In this article, the authors examine the effects of postmerger integration in marketing (extent and ...speed of marketing integration) on M&A performance, as mediated by integration outcomes (magnitude of cost savings and market-related performance). Results from a survey of 232 horizontal M&A show that market-related performance after the merger or acquisition has a much stronger impact on financial performance than does cost savings. In addition, the authors find that the extent of integration is beneficial in terms of cost savings but detrimental in terms of market-related performance. Finally, they identify variables that moderate the relationships being considered.
This paper uses the context of online banking to investigate the consequences of using self-service distribution channels to alter customer interactions with the firm. Using a sample of retail ...banking customers observed over a 30-month period at a large U.S. bank, we test whether changes in service consumption, cost to serve, and customer profitability are associated with the adoption of online banking. We find that customer adoption of online banking is associated with (1) substitution , primarily from incrementally more costly self-service delivery channels (automated teller machine and voice response unit); (2) augmentation of service consumption in more costly service delivery channels (branch and call center); (3) a substantial increase in total transaction volume; (4) an increase in estimated average cost to serve resulting from the combination of points (1)–(3); and (5) a reduction in short-term customer profitability. However, we find that use of the online banking channel is associated with higher customer retention rates over one-, two-, and three-year horizons. The documented relationship between the use of online banking and customer retention remains positive even after controlling for self-selection into the online channel. We also find evidence that future market shares for our sample firm are systematically higher in markets with high contemporaneous utilization rates for the online banking channel. This finding holds even after controlling for contemporaneous market share, suggesting it is not simply the result of increased market power leading to the acquisition of online banking customers.
The question of whether customer satisfaction is mispriced by the stock market has been debated over the past decade, yet it remains unintegrated with the broader asset pricing literature. The ...authors critique Fornell, Morgeson, and Hult (2016), focusing on that article's missed opportunities in addressing theoretical lacuna and empirical challenges that might establish the satisfaction mispricing anomaly. In doing so, they distinguish mispricing from value relevance, classify two broad avenues for satisfaction mispricing research, and detail the scope of future research under each avenue. They conclude by summarizing specific research opportunities and presenting implications for managers, investors, and educators that could lead marketing to become a net contributor to the marketing-finance dialogue.
Purpose: The purpose is to define the efficiency and priorities of modernization of Ukraine's trade integration with the EU countries in the implementation of DCFTA and to attempt to assess the ...indirect effects of the tree trade agreement between countries. Design/methodology/approach: To this end, a comparative analysis was carried out to assess the effectiveness of the Association Agreement and to identify the asymmetry of trade and economic integration between Ukraine and the EU. The correlation regression method was used to determine the dependence of Ukraine’s exports to the EU countries on GDP changes and to identity the integration impacts on economic growth. In turn, the extrapolation method was employed to calculate forecasts tor the economic growth rate and GDP per capita. Findings: Determining the effectiveness and priorities of modernization of the trade integration format of Ukraine-EU in the implementation of the DCFTA, as well as evaluation of the intermediate results of the FTA between the countries. At present, it is necessary to modernize the format of Ukraine’s trade integration with the EU in the context of the implementation of the DCFTA. Three main vectors for updating the Agreement have been identified as priorities: deepening sectoral integration; increasing duty-free export to the EU market; eliminating non-tariff measures restricting trade with the EU along with signing a number of agreements tor the above-mentioned purpose. Research limitations/implications: The results of the study will be useful to researchers of relevant issues, students, graduate students, doctoral students and teachers specializing in international relations and other academic disciplines, and the developed initiatives can be used by the government to form a new negotiating position on the Association Agreement between Ukraine and the EU. Originality/value: Forecasting and modeling the Ukraine-EU foreign trade turnover based on the use of the gravity model and correlation-regression analysis confirms that the introduction of the DCFTA in 2016-2017 allowed Ukraine to increase exports to the EU and modernization of the trade part of the agreement will positively affect the economic and social development of Ukraine. In this context, it is necessary to take into account the national interests and trade partners, in particular the possibility of Ukraine’s support tor the EU initiative “ European Green Deal” on the path to the formation of Europe as a carbon-neutral continent.
Unlike many other Sub-Saharan African countries, for many years Kenya had comparative advantages in the manufacturing of processed bean products. However, for new competitors intending to join the ...bean processing industry, little is known about marketing strategies for value added bean products. Using data from 90 retailers in the Nairobi and Kiambu counties in Kenya, a two-step econometric procedure-multivariate probit and Poisson regression models were applied to analyse retailers’ marketing strategy decisions. Findings show that information sources, cost of marketing, supply modalities, price of products, and quantities handled significantly influenced retailers’ marketing strategy choice. Surveyed retailers applied varying marketing strategies to market value added bean products. There is need for prospective retailers to choose an appropriate mix of strategies to penetrate the dynamic market with a number of value added bean products, and promote local consumption of value added bean products.
This study examines the pivotal role of ambidextrous innovation in the strategy-performance thesis of the export ventures of high-technology international new venture (INV) firms. To date, the ...literature on INVs has failed to consider ambidextrous innovation in the strategy interplay in approaching new markets overseas. Building on the resource-based view of the firm, the authors empirically examine the relationships among competitive strategy, innovation ambidexterity, positional advantage, and export venture performance. In the context of Mexican high-technology INVs, the authors find that innovation ambidexterity codetermines both marketing differentiation and cost leadership advantages, and together these link to export venture performance gains. The authors reveal that marketing differentiation and cost leadership strategies positively influence differentiation and cost advantages, respectively. They observe hybrid strategy to influence marketing differentiation advantage inversely. Moreover, marketing differentiation strategy alone is important in driving innovation ambidexterity. The study findings have important implications for research on international marketing, new venture decision making, and overseas expansion strategies.
The second part of the article considers the main approaches and functions that characterize a modern sports management in Russia. To do this, we analyze areas of responsibility (area of expertise) ...of sports management entities in Russia, depending on their goals and functions they implement. The three approaches are highlighted in sports management: the one of organizations that implement social goals - mainly under state ownership; commercial approach of private companies seeking to generate revenues or spending of optimal advertising budgets, implemented through the use of marketing strategies; approach, which reflects the general principles of the activities of NGOs. Then the article describes aspirations of commercial companies in their relations with the public sector and its institutions, which are also typical for the field of sport as well as the functions that perform public authority executive agencies in charge in the field of sport in cooperation with sports business organizations. Certain promising opportunities for the development of sports management in Russia are analyzed.
Conjoint analytic surveys were administered to 225 potential consumers of foods processed by innovative and emerging food technologies in order to assess the factors contributing to their interest in ...using such products. Respondents included 1) a consumer panel of civilian lab employees, 2) shoppers in a mall in the northeastern U.S., and 3) U.S. military troops on training exercises. Respondents rated their interest in 49 different food product concepts that varied in food type, processing or production technology, costs, benefits, risks, endorsing agencies, and product information. Results showed that the relative importance of factors did not vary greatly among the consumer groups. Perceived risks associated with the technologies were the most important factors influencing interest in use. Among the emerging technologies assessed, irradiation and genetic modification resulted in the greatest negative effect on likely use, while high pressure processing produced the most positive effect. The term “cold preservation” had positive associations for all groups, but “minimally processed” had negative associations. Implications of the data for the marketing of foods processed by innovative and emerging technologies are discussed.
The food industry is currently interested in a variety of novel production and processing technologies that may result in economical and improved quality products. However, consumer attitudes toward and conceptions of these new technologies can greatly influence their success in the marketplace. The results of this study show that “perceived risks” of the technologies are the most important determinant of interest in their use by consumers. This and other data uncovered in this study suggest that industry must be vigilant in their knowledge of consumer attitudes toward these processes in order to avoid unexpected failure of these products upon market introduction.
Academic studies offer a generally positive portrait of the effect of customer relationship management (CRM) on firm performance, but practitioners question its value. The authors argue that a firm's ...strategic commitments may be an overlooked organizational factor that influences the rewards for a firm's investments in CRM. Using the context of online retailing, the authors consider the effects of two key strategic commitments of online retailers on the performance effect of CRM: their bricks-and-mortar experience and their online entry timing. They test the proposed model with a multimethod approach that uses manager ratings of firm CRM and strategic commitments and third-party customers' ratings of satisfaction from 106 online retailers. The findings indicate that firms with moderate bricks-and-mortar experience are better able to leverage CRM for superior customer satisfaction outcomes than firms with either low or high bricks-and-mortar experience. Likewise, firms with moderate online experience are better able to leverage CRM into superior customer satisfaction outcomes than firms with either low or high online experience. These findings help resolve disparate results about the value of CRM, and they establish the importance of examining CRM within the strategic context of the firm.
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