Search results for: marketing method

Authors: Akbar Zeb, Shujaul Mulk Khan, Habib Ahmad, Manzoor Hussain, Mujtaba Shah

Abstract:

An ethnobotanical project was carried out in the Dughalgay valley District Swat in Hindu Kush region. The Local population not only use indigenous knowledge to use medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local markets. An ethnobotanical project was carried out in the Doghalgay valley of upper Swat. The Local population not only use indigenous medicinal plants for curing various diseases but also earn their live hood by selling some of them in the local market. 102 of these medicinal plants were reported to be used in the region during questionnaire survey in spring 2007. Out of them 10 species are used as diuretic, 9 in stomachic and laxative each. Similarly 6, 5, 5, 4, 4, and 4 species of them are used as antiseptic, Anthelmintic, Carminative, Expectorant, Astringent and purgative respectively, while the remaining species have one or more than one medicinal use in the local community. 30 of these species are collected for marketing purposes, in which these medicinal plants such as Berberis lycium, Origanum vulgare, Bergenia ciliata, Aesculus indica, Podophyllum emodi, Pteredium aquilinum, Bergenia himalyca, Viola spp., Ajuga bracteosa, Morchella esculenta, Paeonia emodi, Atropa acuminate, Aconitum violaceum, Polygonum amplexicaulis, Bupleurum longicaule, Juglans regia, Diospyrus lotus, and Mentha longifolia are important. Study concluded that availability of medicinal plants is decreasing day by day due to human population pressure, marketing pressure, grazing and unwise collection. Therefore it is recommended that Governmental organizations and non Governmental organization should pay possible attention to make aware the local people about the future threats.

Keywords: indigenous knowledge, ethnomedicinal uses, marketing, Hindu Kush

Procedia PDF Downloads 503

Authors: Adeolu O. Dairo

Abstract:

Getting the consumer marketing strategy right is a crucial and complex task for firms with a large customer base such as mobile operators in a competitive mobile market. While empirical studies have made efforts to identify key constructs, no geospatial model has been developed to comprehensively assess the viability and interdependency of ground realities regarding the customer, competition, channel and the network quality of mobile operators. With this research, a geo-analytic framework is proposed for strategy formulation and allocation for mobile operators. Firstly, a fuzzy analytic network using a self-organizing feature map clustering technique based on inputs from managers and literature, which depicts the interrelationships amongst ground realities is developed. The model is tested with a mobile operator in the Nigeria mobile market. As a result, a customer-centric geospatial and visualization solution is developed. This provides a consolidated and integrated insight that serves as a transparent, logical and practical guide for strategic, tactical and operational decision making.

Keywords: geospatial, geo-analytics, self-organizing map, customer-centric

Procedia PDF Downloads 183

Authors: Radwan Al Dwairi, Sara Melhem

Abstract:

Today’s billions of individuals are linked together in real-time using different types of social platforms. Despite the increasing importance of social media marketing activities in enhancing customers’ intention to purchase online; still, the majority of research has concentrated on the impact of such tools on customer satisfaction or retention and neglecting its real role in enhancing brand reputation and awareness, which in turn impact customers’ intention to purchase online. In response, this study aims to close this gap by conducting an empirical study using a qualitative approach by collecting a sample of data from 216 respondents in this domain. Results of the study reveal the significant impact of word-of-mouth, interactions, and influencers on a brand reputation, where the latter positively and significantly impacted customers’ intention to purchase via social platforms. In addition, results show the significant impact of brand reputation on enhancing customers' purchase intention.

Keywords: brand awareness, brand reputation, EWOM, influencers, interaction

Procedia PDF Downloads 95

Authors: Nathakhun Wiroonsri

Abstract:

There are various cluster validity measures used for evaluating clustering results. One of the main objectives of using these measures is to seek the optimal unknown number of clusters. Some measures work well for clusters with different densities, sizes and shapes. Yet, one of the weaknesses that those validity measures share is that they sometimes provide only one clear optimal number of clusters. That number is actually unknown and there might be more than one potential sub-optimal option that a user may wish to choose based on different applications. We develop two new cluster validity indices based on a correlation between an actual distance between a pair of data points and a centroid distance of clusters that the two points are located in. Our proposed indices constantly yield several peaks at different numbers of clusters which overcome the weakness previously stated. Furthermore, the introduced correlation can also be used for evaluating the quality of a selected clustering result. Several experiments in different scenarios, including the well-known iris data set and a real-world marketing application, have been conducted to compare the proposed validity indices with several well-known ones.

Keywords: clustering algorithm, cluster validity measure, correlation, data partitions, iris data set, marketing, pattern recognition

Procedia PDF Downloads 103

Authors: Azzi Mohammed Amin

Abstract:

The study aimed to measure the impact of the product for its size marketing innovation (the development of existing products, innovation of new products) in achieving customer loyalty from the perspective of a sample of consumers brand (Omar Ben Omar) food in the state of Biskra, and also measure the degree of customer loyalty to the brand. To achieve the objectives of the study, designed a form and distributed to a random sample of 280 consumers of the brand, has been relying on SPSS to analyze the results, the study revealed several findings; There is a strong customer loyalty to Omar bin Omar products. The presence of the impact of product innovation (development of existing products, the innovation of new products) on customer loyalty, with a Pearson correlation coefficient of 0.74 is a strong relationship. The presence of a statistically significant effect for the development of existing products in customer loyalty. The presence of a statistically significant effect for the innovation of new products to customer loyalty.

Keywords: marketing innovation, product innovation, customer loyalty, products

Procedia PDF Downloads 531

Authors: Mozhgan Sabzehparvar, Mohammad Montazeri, Mahdie Jafarnejad Shahri, Neda Boroumandi, Shakib Alipour, Hamide Torabi, Zahra Dehghani

Abstract:

In this article, the aesthetic criteria, which are regarded as the key factors in the product development, and design process are carefully taken into account and an attempt has been made to extract the influential concepts in successful product design. This review article was conducted from 22.05.2021 to 22.06.2021, recent published paper in English (2017-2021) in three search engines of JSTOR, IEEE, and EMERALD were selected. The selected main keywords in our search were "Customer, Behavior, Aesthetics, Marketing and Product". During the screenings, 21 articles were analyzed. The aesthetic criteria play a role in increasing the power of choice, loyalty, satisfaction and purchase intention of the customers. Also, product design has a positive effect on the customers’ perception of aesthetics and acts effectively on customer behavior. Aesthetics has a significant relationship with the customer's intention to buy products and can make the product popular and satisfy people.

Keywords: product design, design process, customer behaviour, aesthetic, marketing

Procedia PDF Downloads 90

Authors: Sabita Mahapatra

Abstract:

‘Going green’ has been an emerging issue worldwide driving companies to continuously enhance their green capabilities and implement innovative green practices to protect the environment and improve business performance. Green has become a contemporary business environmental issue. The resource advantage theory is adopted in the present study to observe the impact of marketing orientation and green innovation practices on environmental and firm’s performance. The small and medium firms compared to large firms have different approach towards market orientation as a strategic tool. The present study proposes a conceptual framework regarding the impact of market orientation on environmental and firm’s performance through green innovation practices in the context of small and medium scale industries (SMEs). The propositions developed in the present paper would provide scope for future research study to validate the conceptual framework in the emerging economy like India.

Keywords: market orientation, green innovation practices, environment performance, corporate performance, emerging market

Procedia PDF Downloads 320

Authors: Do Su Park, Sang Jun Park, Cheon Soon Jeong

Abstract:

This study was performed in order to investigate the optimum ripening conditions for the marketing of Squash. Research sample 'Bochang' was grown at Hongcheonin in Gangwon province in August 2014. Ripening the samples were stored under the conditions of 25℃, 30℃, and 35℃ with the humidity RH70 ± 5%. They were checked every 3 days for 21 days. The respiration rate, water loss, hardness, coloration, the contents of soluble solids, starch, total sugar were evaluated after storage. Respiration rate was reduced in all treatments with longer storage period. Water loss was increased in the higher temperature. The 13% water loss was found at 35℃ on 21st storage day. The store initially 25℃ and 30℃ Hardness 47N and the ripening 21 days decreased slightly. On the other hand, in the case of 35℃ showed a large reduction than 25℃ and 30℃. Soluble solid contents were increased with longer ripening period. 30℃ and 35℃ was highest ripening 15 days. In the case of 25℃, it was highest on 21th day. The higher the temperature, the higher the soluble solids content are. 25℃ and 30℃ Coloration was increased rapidly until the ripening 12 days. In case of 35℃, continued increase up to 21 days. 25℃ and 30℃ showed no differences. Meanwhile, in case of 35℃, appearance quality was reduced in Occurrence of yellowing phenomenon of pericarp occurs from after ripening for 9 days. The coloration of fruit flesh is increase until after ripening for 9 days and decrease from after ripening for 9 days. There was no significant difference depending on the conditions of temperature. The higher the temperature, the lower the content of the starch. In case of 30℃ and 35℃, was reduced with longer storage period. 25℃ was minimal content change. Total sugar was increased in all treatments with longer storage period. The higher the temperature, the higher the amount of total sugar content is. Therefore, at 25℃ for 18-21 days and at 30℃ for 12-15 days is suitable for ripening.

Keywords: marketing, ripening, temperature, winter squash

Procedia PDF Downloads 598

Authors: Mehmet Sinan Erguven

Abstract:

Modern art is relatively new but a popular area in Turkish art society. Modern art museums are mainly located in big cities like Istanbul and Ankara where cultural life is more dynamic. Odunpazarı Modern Museum (OMM) will open its doors on September 2019 and be the only modern art museum located in a small town in Turkey. OMM executives declare the mission of the museum as; art must go beyond the metropolises of the world, give a new lease of life to cities that make a difference with their cultural texture, and reach a greater audience through that expansion. So OMM will not only serve as a museum but a landmark for regenerating the city brand of Eskişehir like the Guggenheim in Bilbao. OMM is located in the Odunpazarı area, the heart of Eskişehir. Named after the historical timber market it once hosted, Odunpazarı is a nominated site for the UNESCO Intangible Cultural Heritage List, and is Eskişehir’s first area of settlement. This study focuses on the complex nature of opening a modern art museum in a small town. The management and marketing dynamics of OMM are discussed in the study. Content analysis technique is used on local and national news to display the perception differences before and after the opening of OMM. In depth interviews with the executives of the museum are conducted in order to enlighten the insights of opening a modern art museum in a small town. Early findings of the content analysis point out that, the comments on the national press are mostly positive. On the other hand, different views occur on the local press. The location OMM is constructed and grandness of the museum building are criticized by some of the local newspapers. OMM’s potential as a tourist attraction is agreed by most of the media. OMM executives stated the most challenging task as reaching the different target audiences on international, national and local levels. These early findings will be improved and compared shortly before and after the opening of the museum.

Keywords: management, marketing, Odunpazarı modern museum, small town

Procedia PDF Downloads 231

Authors: Chih-Ping Chen

Abstract:

Today, technology does not necessitate change; rather, social media has afforded a new arena and digital tools for users/individuals to be symbolized and marketed in meaningful exchanges of digital identities. We argue that these symbolic interactions may afford individuals the ability to create and present less restricted Line person-to-person (P2P) chats than would be possible in face-to-face communications. Individuals can select flexible influence strategies to market themselves, which enables them to create and present their digital identities and impressions in alternative ways within a dynamic sociocultural context. Therefore, this paper aims to explore the novel phenomenon of how individuals market themselves to manage their digital identities and impressions to connect with other users through the symbolic interactions created by new digital tools (e.g., stickers). A netnographic approach was developed by applying a triangulated methodology consisting of user self-diary reports, in-depth interviews, and observations. Totally, 20 participants (10 females and 10 males) were of Taiwanese origin, and their ages ranged from 20–47 years old. The findings of this research showed that individuals on Line P2P social media where traditional cultural gender norms have shifted. Both male and female participants market their modern digital identities by adopting a combination of flexible influence tactics/strategies when using digital stickers. Some findings showed that their influence tactics/strategies often flouted Taiwanese cultural gender norms or skirted traditional rules to fit individual or P2P needs. Finally, these findings potentially contributed to the literature regarding the consumer culture theory and symbolic interaction theory in digital marketing and social media fields.

Keywords: Consumer culture theory, Digital sticker, Self-marketing, Impression, Symbolic interaciton

Procedia PDF Downloads 80

Authors: Muhammad Sulman, Tabinda Khurshid, Afsheen Masood

Abstract:

The current research focused on determining the factors that determine the brand loyalty in consumers. It was hypothesized that there are certain demographical features that lead the consumers to adhere more towards certain brands. Cross-sectional research design was used. The sample for the current research comprised of participants (N=500) from age group 16 to 55 years. The data was collected through self-constructed demographic questionnaire as well as from a self-constructed Brand Loyalty Questionnaire. Brand Loyalty Questionnaire was adapted after taking permission from researchers. A pilot study was conducted to chalk out all the ambiguities of the questionnaire. The final version was administered on 250 participants. The descriptive and inferential analyses were carried on through SPSS version 24.00 to explore the factors that determine Brand Loyalty. The findings revealed that there is a relationship between brand loyalty and brand loyalty demographics and certain factors emerged as significant predictors of brand loyalty in young and middle aged consumers. The research findings carry strong implications for organizational and consumer psychologists in particular and for professionals in marketing and policy making in general.

Keywords: consumers, consumer psychologists, marketing, organizational, policy making

Procedia PDF Downloads 271

Authors: Loveline Ambo Angwah

Abstract:

The processing of cassava from tubers or roots into food using crude and rudimentary method (hand peeling, grating, frying and to sun drying) is a very cumbersome and difficult process. The crude methods are time consuming and labour intensive. While on the other hand, modern processing method, that is using machines to perform the various processes as washing, peeling, grinding, oven drying, fermentation and frying is easier, less time consuming, and less labour intensive. Rudimentarily, cassava roots are processed into numerous products and utilized in various ways according to local customs and preferences. For the people of Ngwo village, cassava is transformed locally into flour or powder form called ‘cumcum’. It is also sucked into water to give a kind of food call ‘water fufu’ and fried to give ‘garri’. The leaves are consumed as vegetables. Added to these, its relative high yields; ability to stay underground after maturity for long periods give cassava considerable advantage as a commodity that is being used by poor rural folks in the community, to fight poverty. It plays a major role in efforts to alleviate the food crisis because of its efficient production of food energy, year-round availability, tolerance to extreme stress conditions, and suitability to present farming and food systems in Africa. Improvement of cassava processing and utilization techniques would greatly increase labor efficiency, incomes, and living standards of cassava farmers and the rural poor, as well as enhance the-shelf life of products, facilitate their transportation, increase marketing opportunities, and help improve human and livestock nutrition. This paper presents a general overview of crude ways in cassava processing and utilization methods now used by subsistence and small-scale farmers in Ngwo village of the North West region in Cameroon, and examine the opportunities of improving processing technologies. Cassava needs processing because the roots cannot be stored for long because they rot within 3-4 days of harvest. They are bulky with about 70% moisture content, and therefore transportation of the tubers to markets is difficult and expensive. The roots and leaves contain varying amounts of cyanide which is toxic to humans and animals, while the raw cassava roots and uncooked leaves are not palatable. Therefore, cassava must be processed into various forms in order to increase the shelf life of the products, facilitate transportation and marketing, reduce cyanide content and improve palatability.

Keywords: cassava roots, crude ways, food system, poverty

Procedia PDF Downloads 166

Authors: Luca Zarrilli, Miguel Brito, Marianna Cappucci

Abstract:

Tourists recently awarded Lisbon as the best city break destination in Europe. This article analyses the various types of tourist experiences in the city of Lisbon. The research method is the questionnaire, aimed at investigating the choices of tourists in the area of mobility, their perception of the quality of life and their level of appreciation of neighbourhoods, landmarks and infrastructures. There is an obvious link between the quality of life and the quality of the tourist experience, but it is difficult to measure it. Through this questionnaire, we hope to have made a small contribution to the understanding of the perceptive sphere of the individual and his choices in terms of behaviour, which is an essential element of any strategy for tourism marketing.

Keywords: Lisbon, mobility, quality of life, perception, tourism, hospitality

Procedia PDF Downloads 421

Authors: Kazuko Sakamoto

Abstract:

Anthropomorphic agents have been successful in areas where there are many human interactions, such as education and medical care. The persuasive effect is also expected in e-shopping sites on the web. This indicates that customer service is not necessarily human but can play that role. However, the 'humanity' in anthropomorphism sometimes has a risk of working negatively. In general, as the appearance of anthropomorphic agents approaches humans, it is thought that their affinity with humans increases. However, when the degree of similarity reaches a certain level, it gives the user a weird feeling. This is the 'eerie valley' phenomenon. This is a concept used in the world of robotics, but it seems to be applicable to anthropomorphic agents such as characters. Then what kind of design can you accept as an anthropomorphic agent that gives you a feeling of friendliness or good feeling without causing discomfort or fear to people? This study focused on this point and examined what design and characteristics would be effective for marketing communication. As a result of the investigation, it was found that there is no need for gaze and blinking, the size of the eyes is normal or large, and the impression evaluation is higher when the structure is as simple as possible. Conversely, agents with high eye-gaze and white-eye ratios had low evaluations, and the negative impact on eye-gaze was particularly large.

Keywords: anthropomorphicgents, design evaluation, marketing communication, customer service

Procedia PDF Downloads 113

Authors: F. Amin, S. Feizi

Abstract:

Big data has the potential to improve the quality of services; enable infrastructure that businesses depend on to adapt continually and efficiently; improve the performance of employees; help organizations better understand customers; and reduce liability risks. Analytics and marketing models of fixed and mobile operators are falling short in combating churn and declining revenue per user. Big Data presents new method to reverse the way and improve profitability. The benefits of Big Data and next-generation network, however, are more exorbitant than improved customer relationship management. Next generation of networks are in a prime position to monetize rich supplies of customer information—while being mindful of legal and privacy issues. As data assets are transformed into new revenue streams will become integral to high performance.

Keywords: big data, next generation networks, network transformation, strategy

Procedia PDF Downloads 360

Authors: Radhika Ramanchi

Abstract:

The oil market during 2014-2015 in India with large price fluctuations is very confusing to individual investor. The drop in oil prices supported stocks of some oil marketing companies (OMCs) like Bharat Petroleum Corporation, Hindustan Petroleum Corporation (HPCL) and Indian Oil Corporation etc their shares rose 84.74%, 128.63% and 59.16%, respectively. Lower oil prices, and lower current account, a smaller subsidy burden are the reasons for outperformance. On the other hand, lower crude prices giving downward pressure on upstream companies like Oil and Natural Gas Corp. Ltd (ONGC) and Reliance Petroleum (RIL) Oil India Ltd (OIL). Not having clarity on a subsidy sharing mechanism is the reason for downward trend on these stocks. Shares of ONGC and RIL have underperformed so far in 2015. When the oil price fall profits of the companies will effect, generate less money and may cut their dividends in Long run. In this situation this paper objective is to study investment strategies in oil marketing companies, by applying CAPM and Security Market Line.

Keywords: petrol industry, price fluctuations, sharp single index model, SML, Markowitz model

Procedia PDF Downloads 223

Authors: Mohammad Reza Akhavan Khaleghi

Abstract:

This paper shows changes done to the Reduced Finite Element Method (RFEM) that its result will be the most powerful numerical method that has been proposed so far (some forms of this method are so powerful that they can approximate the most complex equations simply Laplace equation!). Finite Element Method (FEM) is a powerful numerical method that has been used successfully for the solution of the existing problems in various scientific and engineering fields such as its application in CFD. Many algorithms have been expressed based on FEM, but none have been used in popular CFD software. In this section, full monopoly is according to Finite Volume Method (FVM) due to better efficiency and adaptability with the physics of problems in comparison with FEM. It doesn't seem that FEM could compete with FVM unless it was fundamentally changed. This paper shows those changes and its result will be a powerful method that has much better performance in all subjects in comparison with FVM and another computational method. This method is not to compete with the finite volume method but to replace it.

Keywords: reduced finite element method, new computational package, new finite element formulation, new higher-order form, new isogeometric analysis

Procedia PDF Downloads 117

Authors: O. Acan, Y. Keskin

Abstract:

In this study, we will carry out a comparative study between the reduced differential transform method, the adomian decomposition method, the variational iteration method and the homotopy analysis method. These methods are used in many fields of engineering. This is been achieved by handling a kind of 2-Dimensional and forth-order partial differential equations called the Kuramoto–Sivashinsky equations. Three numerical examples have also been carried out to validate and demonstrate efficiency of the four methods. Furthermost, it is shown that the reduced differential transform method has advantage over other methods. This method is very effective and simple and could be applied for nonlinear problems which used in engineering.

Keywords: reduced differential transform method, adomian decomposition method, variational iteration method, homotopy analysis method

Procedia PDF Downloads 433

Authors: Irfan Arikan, George Christian Steckenbauer

Abstract:

Turkey and Austria are examples for highly developed tourism destinations, where tourism providers use cultural heritage and regional natural resources to develop modern tourism products in order to be successful on increasingly competitive international tourism markets. The use and exploitation of these resources follow on the one hand international standards of tourism marketing (as ‘sustainability’). Therefore, we find highly comparable internationalized products in these destinations (like hotel products, museums, spas etc.). On the other hand, development standards and processes strongly depend on local, regional and national cultures, which influence the way how people work, cooperate, think and create. Thus, cultural factors also influence the attitude towards cultural heritage and natural resources and the way, how these resources are used for the creation of tourism products. This leads to differences in the development of tourism products on several levels: 1. In the selection of cultural heritage and natural resources for the product development process 2. In the processes, how tourism products are created 3. In the way, how providers and marketing organisations work with tourism products based on cultural heritage or natural resources. Aim of this paper is to discover differences in these dimensions by analysing and comparing examples of tourism products in Turkey and Austria, both countries with a highly developed, high professional tourism industry and rich experience of stakeholders in tourism industry in the field of product development and marketing. The cases are selected from the following fields: + Cultural tourism / heritage tourism + City tourism + Industrial heritage tourism + Nature and outdoor tourism + Health tourism The cases are analysed based on available secondary data (as several cases are scientifically described) and expert interviews with local and regional stakeholders of tourism industry and tourism experts. The available primary and secondary data will be analysed and displayed in a comparative structure that allows to derive answers to the above stated research question. The result of the project therefore will be a more precise picture about the influence of cultural differences on the use and exploitation of resources in the field of tourism that allows developing recommendations for tourism industry, which must be taken into consideration to assure cultural and natural resources are treated in a sustainable and responsible way. The authors will edit these culture-cross recommendations in form of a ‘check-list’ that can be used as a ‘guideline’ for tourism professionals in the field of product development and marketing and therefore connects theoretical research to the field of practical application and closes the gap between academic research and the field of tourism practice.

Keywords: cultural heritage, natural resources, Austria, Turkey

Procedia PDF Downloads 492

Authors: Abel Kahuni

Abstract:

Cooperative game theory (CGT) postulates that groups of players are crucial units of the decision-making and impose cooperative behaviour. Accordingly, cooperative games are regarded as competition between coalitions of players, rather than between individual players. However, the basic supposition in CGT is that the cooperative is formed by all players. One of the emerging questions in CGT is how to develop cooperatives and fairly allocate the payoff. Cooperative Game Theory (CGT) may provide a framework and insights into the ways small holder farmers in rural resettlements may develop competitive advantage through marketing cooperatives. This conceptual paper proposes a non-competition model for small holder farmers of homogenous agri-commodity under CGT conditions. This paper will also provide brief insights into to the theory of cooperative games in-order to generate an understanding of CGT, cooperative marketing gains and its application in small holder farming arrangements. Accordingly, the objective is to provide a basic introduction to this theory in connection with economic competitive theories in the context of small holder farmers. The key value proposition of CGT is the equitable and fair sharing of cooperative gains.

Keywords: game theory, cooperative game theory, cooperatives, competition

Procedia PDF Downloads 77

Authors: Abbas Al-Refaie, Nour Bata

Abstract:

A distributor of Apple products' experiences numerous difficulties in developing marketing strategies for new and existing mobile product entries that maximize customer satisfaction and the firm's profitability. This research, therefore, integrates market segmentation in platform-based product family design and conjoint analysis to identify iSystem combinations that increase customer satisfaction and business profits. First, the enhanced market segmentation grid is created. Then, the estimated demand model is formulated. Finally, the profit models are constructed then used to determine the ideal product family design that maximizes profit. Conjoint analysis is used to explore customer preferences with their satisfaction levels. A total of 200 surveys are collected about customer preferences. Then, simulation is used to determine the importance values for each attribute. Finally, sensitivity analysis is conducted to determine the product family design that maximizes both objectives. In conclusion, the results of this research shall provide great support to Apple distributors in determining the best marketing strategies that enhance their market share.

Keywords: market segmentation, conjoint analysis, market strategies, optimization

Procedia PDF Downloads 371

Authors: Anjuman Antil, Anuj Kapoor, Neha Saini

Abstract:

Purpose: The purpose of this paper is to study the evolution of insurance in India and the world. The paper also traced the historical basis of life insurance in the world and how it emerged as a major sector in India’s economy. The promotional strategies and distribution channel of top three companies in the Indian insurance sector are also discussed. Design/methodology/approach: The paper examined the secondary data which includes the reports issued by Insurance Regulatory Authority of India, websites of companies, books, and journals relevant to the study. Findings: The paper argued the role and importance of insurance in an emerging economy. The challenges and opportunities of the insurance sector are briefed out. The emerging areas in the insurance sector in terms of promotional strategies and distribution channel are also listed. Implications: The historical evolution can be studied by companies while formulating their strategies. It will help them analyse the insurance sector, how things have changed and how to change with the changing times. Originality/value: This paper gives comprehensive data regarding the background of the insurance sector. Along with historical perspective, marketing and distribution, current and future trends have been discussed.

Keywords: insurance, evolution, life insurance, marketing, distribution channels

Procedia PDF Downloads 234

Authors: Ing-Jen Hung, Tzu-Chien Wang

Abstract:

Nowadays, customers can interact with firms through miscellaneous online ads on different channels easily. In other words, customer now has innumerable options and limitless time to accomplish their commercial activities with firms, individualizing their own online customer journey. This kind of convenience emphasizes the importance of online advertisement allocation on different channels. Therefore, profound understanding of customer behavior can make considerable benefit from optimizing fund allocation on diverse ad channels. To achieve this objective, multiple firms utilize numerical methodology to create data-driven advertisement policy. In our research, we aim to exploit online customer click data to discover the correlations between each channel and their sequential relations. We use LSTM to deal with sequential property of our data and compare its accuracy with other non-sequential methods, such as CART decision tree, logistic regression, etc. Besides, we also classify our customers into several groups by their behavioral characteristics to perceive the differences between all groups as customer portrait. As a result, we discover distinct customer journey under each customer portrait. Our article provides some insights into marketing research and can help firm to formulate online advertising criteria.

Keywords: LSTM, customer journey, marketing, channel ads

Procedia PDF Downloads 121

Authors: Oussama Hafferssas, Hiba Benyahia, Amina Madani, Nassima Zeriri

Abstract:

Although data nowadays has multiple forms; from text to images, and from audio to videos, yet text is still the most used one at a public level. At an academical and research level, and unlike other forms, text can be considered as the easiest form to process. Therefore, a brunch of Data Mining researches has been always under its shadow, called "Text Mining". Its concept is just like data mining’s, finding valuable patterns in data, from large collections and tremendous volumes of data, in this case: Text. Named entity recognition (NER) is one of Text Mining’s disciplines, it aims to extract and classify references such as proper names, locations, expressions of time and dates, organizations and more in a given text. Our approach "Octopub" does not aim to find new ways to improve named entity recognition process, rather than that it’s about finding a new, and yet smart way, to use NER in a way that we can extract sentiments of millions of people using Social Networks as a limitless information source, and Marketing for product promotion as the main domain of application.

Keywords: textmining, named entity recognition(NER), sentiment analysis, social media networks (SN, SMN), business intelligence(BI), marketing

Procedia PDF Downloads 589

Authors: Obasi Igwe Oscar, Udokure Ubong James, Echebiri Raphael Ndubuisi

Abstract:

The study examined the determinants of the welfare of itinerant palm oil marketers in Akwa Ibom State, Nigeria. Multistage sampling techniques were adopted to select 120 itinerant palm oil marketers for the study. Primary data were obtained using a structured questionnaire. Data were analyzed using the cost and returns formula and multiple regression model. Results showed that itinerant palm oil marketing was profitable and 57.39% efficient. The respondents' monthly expenditure of N111,787.90 on food and non-food items indicated that they live above the extreme poverty threshold of $2.15 per person per day, with a daily spending of over $2. Net income (P<0.05), age (P<0.01), educational level (P<0.01), household size (P<0.01), credit amount (P<0.01), market information (P<0.05), amount of tax paid (P<0.01) and the level of market participation (P<0.05) were the significant determinants of the welfare of itinerant traders in the study area. The study recommended that government and non-governmental organizations should make available marketing facilities and enhance transportation networks to reduce inefficiencies and lower transaction costs for itinerant palm oil traders in Akwa Ibom state.

Keywords: determinants, welfare, itinerant, palm oil, marketers

Procedia PDF Downloads 30

Authors: Aarti Suryawanshi

Abstract:

Royal Tourism has always been a popular niche activity for many tourists around the world. The United Kingdom being at the heart of it, has been a pioneering nation for Royal tourists. Though many other countries with monarchies such as India, Thailand, Japan, Spain, Netherlands, and many more have attracted tourists with the motivation to see and experience the royalty to their nations, the Middle Eastern countries have never really been the attraction for Royal tourists. Royalty in the middle east is fast emerging as a tourist product and also paving way to marketing opportunity that may lead to the increased popularity of the Royal Houses of the region. Dubai has been garnering the centre stage for futuristic developments, economic growth initiatives, and continuous efforts towards urbanisation which has brought the lime light on the Royal house of the Al Maktoum globally, along with the younger royal members being extensively recognised and appreciated for their public and private adventures which are shared through various social media platforms. The objective of this paper is to analyse the popularity of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum through social media platforms and the possibility of inducing Royal Tourism in Dubai. An empirical study has been performed to describe the automated repositioning of the city of Dubai as a royal tourism hub.

Keywords: royalty, royal tourism, monarchy, marketing strategy, repositioning

Procedia PDF Downloads 100

Authors: Elvis Adam Alhassan, Kaiyu Tian, Akos Konadu, Ernest Zamanah, Michael Jackson Adjabui, Ibrahim Justice Musah, Esther Agyeiwaa Owusu, Emmanuel K. A. Agyeman

Abstract:

In this paper, how to solve simultaneous equations using the Elvis improved method is shown. The Elvis improved method says; to make one variable in the first equation the subject; make the same variable in the second equation the subject; equate the results and simplify to obtain the value of the unknown variable; put the value of the variable found into one equation from the first or second steps and simplify for the remaining unknown variable. The difference between our Elvis improved method and the substitution method is that: with Elvis improved method, the same variable is made the subject in both equations, and the two resulting equations equated, unlike the substitution method where one variable is made the subject of only one equation and substituted into the other equation. After describing the Elvis improved method, findings from 100 secondary students and the views of 5 secondary tutors to demonstrate the effectiveness of the method are presented. The study's purpose is proved by hypothetical examples.

Keywords: simultaneous equations, substitution method, elimination method, graphical method, Elvis improved method

Procedia PDF Downloads 137

Authors: Nicodemus Tiendem, Arrey Mbayong Napoleon

Abstract:

The heightening of competition and the quest for market share has left business persons and research communities re-examining and reinventing their competitive practices. A case in point is Porter’s generic strategy which has received a lot of criticism lately regarding its inability to maintain a company’s competitive power. This is because it focuses more on the organisation and ignores her external partners, who have a strong bearing on the company’s performance. This paper, therefore, sought to examine Porter’s generic strategies alongside supply chain quality management practices in terms of their effectiveness in building the competitive power of manufacturing companies in Cameroon. This was done with the use of primary data captured from a survey study across the supply chains of 20 manufacturing companies in Cameroon using a five-point Likert scale questionnaire. For each company, four 1st tier suppliers and four 1st tier distributors were carefully chosen to participate in the study alongside the companies themselves. In each case, attention was directed to persons involved in the supply chains of the companies. This gave a total of 180 entities comprising the supply chains of the 20 manufacturing companies involved in the study, making a total of 900 participants. The data was analysed using three multiple regression models to assess the effect of Porter’s generic strategy and supply chain quality management on the marketing performance of the companies. The findings proved that in such a competitive atmosphere, supply chain quality management is a better tool for marketing performance over Porter’s generic strategies and hence building the competitive power of the companies at all levels of the study. Although the study made use of convenience sampling, where sample selectivity biases the results, the findings aligned with many other recent developments in line with building the competitive power of manufacturing companies and thereby made the findings suitable for generalisation.

Keywords: supply chain quality management, Porter’s generic strategies, competitive power, marketing performance, manufacturing companies, Cameroon

Procedia PDF Downloads 88

Authors: John Hawkins, Graham Burton

Abstract:

Contextual targeting is a common strategy for advertising that places marketing messages in media locations that are expected to be aligned with the target audience. There are multiple major challenges to contextual targeting: the ideal categorisation scheme needs to be known, as well as the most appropriate subsections of that scheme for a given campaign or creative. In addition, the campaign reach is typically limited when targeting becomes narrow, so a balance must be struck between requirements. Finally, refinement of the process is limited by the use of evaluation methods that are either rapid but non-specific (click through rates), or reliable but slow and costly (conversions or brand recall studies). In this study we evaluate the use of attention measurement as a technique for understanding the performance of targeting on the basis of specific contextual topics. We perform the analysis using a large scale dataset of impressions categorised using the iAB V2.0 taxonomy. We evaluate multiple levels of the categorisation hierarchy, using categories at different positions within an initial creative specific ranking. The results illustrate that measuring attention time is an affective signal for the performance of a specific creative within a specific context. Performance is sustained across a ranking of categories from one period to another.

Keywords: contextual targeting, digital advertising, attention measurement, marketing performance

Procedia PDF Downloads 104

Authors: Hassan Sher

Abstract:

Agriculture has a pivotal role in Pakistan’s economy, accounting for about one-fourth of the GDP and employing almost half the population. However, the competitiveness, productivity, growth, employment potential, export opportunity, and contribution to GDP of the sector is significantly hampered by agriculture marketing laws/regulations at the provincial level that reward rent seeking behavior, promote monopoly power, artificially reduce farmer incomes while inflating prices to consumers, and act as disincentives to investment. Although of more recent vintage than some other provincial agricultural marketing laws, the NWFP Agricultural and Livestock Produce Markets Act, 2007 is a throwback to a colonial paradigm, where restrictions on agricultural produce marketing and Government control of distribution channels is the norm. The Swat Valley (in which we include its tributary valleys) is an area of Pakistan in which there is poverty is both extreme and pervasive. For many, a significant portion of the family’s income comes from selling plants that are used as herbs, medicines, and perfumes. Earlier studies have shown that the benefit they derive from this work is less than they might because of: Lack of knowledge concerning which plants and which plant parts are valuable, Lack of knowledge concerning optimal preservation and storage of material, illiteracy. Another concern that much of the plant material sold from the valley is collected in the wild, without an appreciation of the negative impact continued collecting has on wild populations. We propose: Creating colored cards to help inhabitants recognize the 25 most valuable plants in their area; Developing and sharing protocols for growing the 25 most valuable plants in a home garden; Developing and sharing efficient mechanisms for drying plants so they do not lose value; Encouraging increased literacy by incorporating numbers and a few words in the handouts.

Keywords: food security, medicinal plants, industrial plants, economic development

Procedia PDF Downloads 326