Entrepreneurial risk-taking in crowdfunding campaigns

This paper examines how different sources of risk in reward-based crowdfunding campaigns influence the entrepreneur’s choice of targeted crowdfunding goal. This form of crowdfunding helps entrepreneurs to obtain feedback on market demand (next to raising money), since the pre-purchase decision of the crowd generates useful public information about product demand. However, it may also lead to project discontinuation if not enough money is raised during the campaign. We therefore derive conditions under which the entrepreneur sets a higher target. At other times, this leads entrepreneurs to raise sometimes even more money than necessary when there is a risk that the idea is quickly replicated by others, leading to even larger campaigns but also to fewer projects offered on platforms. Conversely, the increased presence of professional investors (business angels, venture capitalists) on platforms reduces the entrepreneurs’ incentives in their crowdfunding campaign, which leads to more but on average smaller crowdfunding campaigns.     

新产品全程营销概论

全程营销强调将市场营销理念贯穿于新产品构思、研发、市场化的全过程。为满足顾客需求,实现公司利益和长远发展目标,应弄清新产品全程营销的内涵,详细分析其全生命周期营销和整合营销的特点,以此为新产品开发管理提供新的思路和方法。     

Creativity in marketing management—a unified approach

This paper sets out to identify how marketing management can provide the lead in adopting a more creative approach to innovation at the idea generation stage.

Both the proactive and reactive approaches to innovation strategy are discussed in the context of change factors and the sourcing of new ideas for innovation. Four loci of idea initiation are identified, which appear to vary in importance according to industry sector.

Although evidence is presented to suggest that heuristic techniques are being used increasingly to enhance creativity, their use is limited both by the perception of their function and the strategic mode adopted by the organisation. The concept of the marketing‐centred creative circle is introduced to counter these limiting factors. It is argued that the creative circle offers a bridging function in the generation of new ideas for innovation and in extending the existing stock. As well as performing this function, a more creative and entrepreneurial atmosphere will emerge as lateral relationships develop. With the development of successive marketing‐centred creative circles within the organisation, a unified approach to creative innovation will evolve as the traditional proactive and reactive strategies merge.     

客户关系管理的新4P营销理念

客户关系管理是一种倡导企业以客户为中心的营销管理创新的思想和方法。在客户关系管理中 ,出现了不同于以往的product (产品 )、price (定价 )、place (分销 )和promotion (促销 )的新 4P要素 ,它们是 :product (产品 )、process (流程 )、person (人员 )和performance (表现 )。把这些新 4P组合起来 ,能进一步提高企业的市场竞争能力和增加价值的能力     

Insight versus effort. Communicating the creative process leading to new products

Studies of the creative process identify two relevant sources of new ideas and products: Insight, a sudden, dreamlike, illuminating experience; and effort, deliberate, structured, hard work. With the aim of investigating the communication of the creative process, this research proposes that consumers hold associations between insight and arts, and between effort and sciences. These lay theories induce differential evaluations of new products: consumers evaluate more favorably artistic and scientific products presented as the outcome of insight or effort, respectively. The strength of the proposed effects, however, depends on the level of consumer expertise in the relevant product domain. We maintain that, as audience expertise increases, lay theories become less relevant and the effects of creative process narratives are attenuated. Five studies support the proposed conceptual framework.     

Agriculture,innovational ability,and dynamic comparative advantage of LDCs

The goal of this paper is twofold: (1) to model a process of development based on the notion that the engine of growth is the generation of new ideas by skilled individuals, and (2) to explore the role of agricultural productivity growth in such a process. The key ingredients of our model are: preferences consistent with Engel's Law, and the asymmetry arising from there being a greater scope in industry than in agriculture for incremental innovation.     

Brand-embedded interaction: a dynamic and personalized interaction for co-creation

Recognizing the importance of timely access to market knowledge for successful new product development (NPD), extant research has theoretically argued and empirically shown the value of consumer co-creation during the NPD process. While most research views consumer-generated content as definite or fixed, this paper reveals how firms can enhance the value of consumer-generated ideas by facilitating the exchange of relevant information during co-creation. The authors introduce brand-embedded interaction as a process that enables consumers to generate new product ideas that not only reflect user needs but also align with the brand’s goals and capabilities. Results from two quasi-field experiments using Twitter show that a higher degree of dynamic interaction and personalization during co-creation enables consumers to generate more constructive new product ideas or ideas that are valuable to both consumers and firms. Results offer important implications for both theory and practice regarding co-creation and new product development.     

现代市场营销观念及方法的创新与发展

随着社会经济快速发展,传统的市场营销观念和方法正在被绿色营销、文化营销、知识营销、网络营销、关系营销等诸多新的营销观念和方法所代替,对企业的发展起到了巨大的推动作用。在构建和谐社会,倡导节约型社会,走可持续发展之路的新形势和环境下,企业更应大力创新营销观念和营销方法,不断提高自身的竞争优势。     

产品多样性对RCEP成员出口贸易的影响研究

2020年签署的RCEP是全球规模最大的自由贸易协定,其成员国的要素差异和产品多样性将在一定程度上推进贸易发展。本文利用生物多样性的概念计算2000-2019年RCEP成员国的产品多样性,并建立多元回归模型研究产品多样性对出口贸易的影响。结果表明:产品多样性对出口额有着负向抑制作用,这种抑制作用在非东盟国家更为显著。进一步的分析表明,由于各国专业于生产某类产品,导致产品多样性下降,但专业化又推动出口贸易的发展,从而使两者负相关。基于此,本文提出了创新贸易方式,打造对外贸易新高地,推动产业链价值链合作等促进RCEP成员国贸易发展的对策建议。     

Idea generation leveraged from value co-creation process enhances new service development performance

This study examines the relationship between value co-creation process, idea generation and new service development performance from the perspective of telecommunication companies. Two dimensions of idea generation tested in this framework are internal and external idea generation, and the probable relationship between these two dimensions is further investigated. The data were collected from 78 marketing managers and were statistically analyzed. The findings show that value co-creation crucially influences both external idea generation and internal idea generation, however, the new service development performance can be enhanced through internal idea generation. Nonetheless, the results show that the external idea generation is vital to influence internal idea generation. This study extends theoretical understanding of how to leverage the value co-creation process for idea generation happenings, while the practical contribution of the research is to realize that new service development performance demands internal idea generation, which is supported with external resources of idea generation.     

UK food shopping in the 1950s: the social context of customer loyalty

Food shopping – although often dismissed as dreary necessity – has always served a range of latent functions. In the 1950s, food storage limitations and tight budgets gave rise to weekly – often daily – shopping patterns that also allowed shoppers to meet certain social needs. Going to food shops, and the way that customer service was organized, produced significant interactional opportunities which were valued by participants. Exchanging news with other customers may have reinforced shopping patterns but shopkeepers, and knowledgeable assistants, were also useful intermediaries for product and usage information. Functional specialization in food commodities bestowed the aura of expertise, and direct accountability for the quality of what was sold provided a more personal style of retailing than is currently typical. Much depended on the perception of relationships. The 1950s were an important transitional period in the UK. Rationing gave way to wider choice and availability, while the market position of corner shops was increasingly eclipsed by town centre supermarkets. This article explores the social context of food shopping, and its relationship to the specific issue of customer loyalty.     

中间产品贸易、垂直专业化生产与FDI的关系:基于我国数据的协整分析

在产品内国际分工的条件下,中间产品贸易在全部贸易中的比重日益提高,尤其我国工业行业的中间产品贸易更是发展迅速。基于中间产品贸易,国际生产体系的新格局导致了生产向垂直专业化方向发展,依据Hummels等(2001)对垂直专业化比率的计算方法,测算到工业行业出口贸易的垂直专业化程度。本文检验了外国直接投资与垂直专业化生产和中间产品贸易之间的关系,得出外国直接投资分别与垂直专业化生产和中间产品贸易具有单向的因果关系,并且三者之间存在着长期稳定的协整关系。     

International versus domestic entrepreneurship: New venture strategic behavior and industry structure

International entrepreneurship is defined in this study as the development of international new ventures or start-ups that, from their inception, engage in international business, thus viewing their operating domain as international from the initial stages of the firm's operation.One hundred and eighty-eight new venture firms in the computer and communications equipment manufacturing industries are classified according to the percentage of their sales in the international market. Ventures with no sales derived from international activities are considered “domestic” new ventures, and ventures with sales from international activities comprising greater than 5% of total sales are considered “international” new ventures.The strategy and industry structure profiles of international new ventures are significantly different from domestic new ventures. The internationals pursue much broader market-based strategies, seeking a strategy of broad market coverage through developing and controlling numerous distribution channels, serving numerous customers in diverse market segments, and developing high market or product visibility. The internationals also emphasize a more aggressive entry strategy, building on outside financial and production resources to enter numerous geographical markets on a large scale. Securing patent technology is also an important component of their strategy. This suggests that the internationals compete by entering the industry on a large scale, seeking to penetrate multiple markets, with the recognition that external resources are necessary to support such an entry.Whereas both the domestics and the internationals characterize domestic competition as being relatively intense, the international new ventures compete in industries with higher levels of international competition. It is not clear from this research whether the new venture selects an industry with a high degree of international competition and therefore responds with an international orientation or, because the new venture has an international orientation, it perceives or recognizes a higher degree of international competition. Another industry structure difference is the internationals' perceived higher degree of restrictiveness due to government regulation. It is unclear whether this restrictiveness motivates new ventures to seek less-regulated international environments or if it indicates that when competing internationally, the new venture is confronted with increased regulatory requirements.Domestic new ventures are distinguished by their emphasis on a production expansion strategy and customer specialization strategy. The production specialization strategy consists of focusing on limited geographical markets, maintaining excess capacity, and pursuing forward integration. The customer specialization strategy incorporates the production of a specialty product that is purchased infrequently. Thus, for both of the domestic strategies, a consistent “closeness” between the producer and consumer is implied. This may be an important basis underlining the new venture's decision to compete in an exclusive domestic context.This study offers initial support for the notion of international entrepreneurship by its findings that there are significant differences between new venture firms competing domestically and new ventures choosing to also enter international markets.     

A Reply to “Business Marketing in Master's Programs: A Part of the Fabric”, But What If the Suit Differs?

ABSTRACT

In this reply to James Narus, James Anderson and Earl Honeycutt (NAH) we elaborate on the journey, a 25-year process, in teaching Business Marketing at Ivey. We further discuss the goal to elevate Business Marketing knowledge in the core of the program, rather than to build a strong specialization in the area. Inspired by NAH's reply, we then comment on the root causes of lack of progress at some schools in bringing more Business Marketing into master's programs, and we address the question, “What about those schools where the characteristics are different from Ivey, i.e., how far can our ideas be generalized?”     

Consumer decision making within a goal-driven framework

Research and theory in consumer decision making has been dominated by a perspective that assumes that a consumer knows what product category he or she needs. This limited view has resulted in equating consumer decisions with brand choice. The purpose of this article is to provide a framework for considering a wider range of consumer decision-making processes by linking them to different goals that consumers might pursue. A hierarchical goal structure consisting of four levels of goals; abstract principles or values, action programs, more concrete product acquisition, and brand acquisition goals, is proposed as the theoretical construct which ties together a wide range of consumer decision making phenomena. An experiment in which consumers think out loud in contemplating two levels of more familiar or unfamiliar goals reveals that their thoughts are constrained by the proposed goal hierarchy. The goals provide a useful framework for understanding decision-making processes involving product level consideration, set generation, and the evaluation of those self-generated sets. © 1997 John Wiley & Sons, Inc.     

Consumers' response to other consumers' participation in new product development

In this paper, we investigate how consumers react to information that the brand has involved other consumers in the development of its new product. More specifically, we investigate how the participation of other consumers in either the ideation, where consumers come up with product ideas, or selection, where consumers select which out of many products the brand should produce and market, impacts on consumers' evaluations of the product and perceptions of the brand. Drawing from the literatures on brand schema and congruity, we hypothesize that by way of its effects on perceived brand uniqueness and brand attribution, consumer participation in new product ideation (selection) impacts more favorably on product and brand ratings when the product is incongruent (congruent) with the brand. An experimental study with 386 consumers supports the hypotheses.     

What’s in a crowd? Exploring crowdsourced versus traditional customer participation in the innovation process

This study explores the emerging crowdsourcing phenomenon, that is, the outsourcing of idea generation to the product users (‘the crowd’), typically via online platforms to interact with many and diverse customers and glean valuable market insights. The study focuses on this phenomenon and the factors that determine the value of crowdsourced customer participation over more traditional market research methods. The authors present the results of an extensive, in-depth qualitative case-study analysis pertaining to the media industry. The authors find that crowdsourced customer participation is not consistently superior in enabling firms to discover how to serve their customers better. Instead, the results unearth a catalogue of seven interrelated value determinants that show where the boundaries of both crowdsourcing and traditional customer participation in innovation lie. These value determinants fall into three main categories: (1) innovation-specific value determinants, (2) firm-specific value determinants, and (3) managerial value determinants.     

Capture and Dissemination of Specialized Knowledge in Network Organizations

I present a model for the capture and retrieval of organizational memory that can help overcome the information dissemination problem faced by network organizations. Network organizations are made of small, heterogeneous, product-oriented teams. In these organizations, the specialization of knowledge that has characterized functional hierarchies can be lost as the functional units in which this expertise was created and shared are dismantled. The preservation and dissemination of expert knowledge thus becomes a major issue to be addressed by these organizations, whose competitive advantage depends on this specialization. The problem of capturing project-related organizational memory is addressed with a 3 step solution: (a) the use of explicit work processes; (b) the development of models capable of representing these processes, the artifacts that are developed, and the rationale used during decision making; and (c) the implementation and deployment of computer tools that support the development processes selected and that, in doing so, record and document the project. I address the problem of accessing information from projects developed elsewhere in the organization and propose a solution based on monitoring the user's manipulation of information and creating hypotheses of his or her information needs. These hypotheses are then used as queries by a fuzzy information retrieval engine that produces a ranked list of documents that are suggested to the user as being relevant to his or her information needs. As the user manipulates these documents, the hypothesis is updated, triggering a new retrieval and the update of the list of suggested documents. The feasibility of the approach is demonstrated with the implementation of a prototype.     

进口竞争与企业产品专业化--基于中国多产品企业的研究

本文以企业内部资源配置为视角,检验了进口竞争对企业内部产品专业化的影响。研究发现,进口竞争显著地促进了中国企业的产品专业化程度。进口竞争的加剧促使企业缩小产品生产范围,使其将资源集中到少数核心产品的专业化生产和销售上来。这一过程伴随着企业产品种类的减少和企业整体产品范围偏度的集中。本文利用中国对外反倾销冲击作为进口竞争程度下降的拟自然实验,考察了企业是否受反倾销保护对其产品专业化程度影响的因果效应。进一步的异质性检验表明,相比加工贸易而言,一般贸易产生的进口竞争对企业产品专业化的促进作用更大;相比低收入国家而言,来自高收入国家的进口竞争对企业产品专业化的促进作用更大。本研究对如何理解进口竞争对中国经济发展的影响,提供了来自企业内部产品配置的证据。