Marketing Strategy and Innovation at Michelin (Published)
The great management guru, Peter F. Drucker, once made a very profound observation that, “Because the purpose of business is to create customers, a business enterprise has two and only two basic functions – marketing and innovation. Marketing and innovation produce results; all the rest are costs” (Drucker, 1995). In this paper, we focus on the marketing strategies and innovation strengths at the France based company, Michelin. The company simply produces tires made of rubber, but still has a multi-billion dollar empire and is a leader in the tire industry, and continues to generate new plans for advancing its business. Indeed, Michelin has one of the most recognizable logo in the world (see above). We delve into the history of Michelin, its association with French culture, and seek to deduce what are the factors resulting in its marketing and innovation models that contribute to its huge success over the last 125+ years. The central scope of the paper is to understand the marketing strategy of Michelin in the global marketplace, and, at the same time, to analyze how Michelin has been successful in being able to innovate and maintain a stronghold in this sector in terms of market share. With respect to innovation, we note key disruptions that Michelin has been producing in its research labs and with respect to its marketing. We dig deeply into the strategic-branding approach at Michelin and analyze topics such as brand positioning, brand image and equity, advertising, market segmentation, and targeting, all in the aforementioned global setting.
Keywords: Advertising, Brand Image, Innovation, Marketing, Michelin, Strategy
Assessing the Efficiency of Soya Bean Marketing In the Ejura-Sekyedumasi and Nkoranza South Districts of Ghana (Published)
The study aimed at assessing the efficiencies of soya bean marketing channels in the Ejura-Sekyedumasi and Nkoranza South Districts, Ghana. The multi-stage sampling technique was employed in selecting thirty-seven soya bean farmers, two wholesalers, seven retailers, two small-scale processors and one large-scale processor of soya beans for the study. Gross Margin analysis was employed in determining the marketing costs and margins whereas the Shepherd’s Method was used in analyzing the efficiencies of the marketing channels. The study revealed that nine different channels existed through which soya bean was marketed in the study areas, with the simplest channel (Channel 1) being where farmers sell directly to consumers. Analysis of marketing cost and margins revealed that comparatively, Channel 1 had the least cost (GH₵2.40) and margins (GH₵10.50) since farmers dealt directly with consumers without any interference from market intermediaries, who usually increase transaction cost. From the study, Channel 1 was the most efficient channel with an Efficiency Index of 37.71. Thus, its marketing cost constituted a smaller proportion of the consumer price. The study recommends that farmers use Channel 1 where they sell directly to consumers to market their produce and also form co-operatives to protect them against price fluctuation and give them assurance of buyers. Moreso, the central government is directed to intervene in the form of road construction and improvement to help reduce the excessive transportation cost associated with the soya bean trade in Ghana
Keywords: Efficiency, Ghana, Marketing, Marketing Channel, Soya Bean
The Political Economy of Oil Marketing In Developing Countries: An Analysis of the Politics of Petroleum and Petroleum Politics in Ghana (Published)
This article probed the politics of subsidy in developing countries. In spite of the adoption of neoliberal policies of capitalism where production, distribution and exchange of goods and services are supposed to be in the realm of the private sphere, most developing economies are still ingrained unrepentantly in sacrificing scarce national resources meant for infrastructural development on subsidies while scavenging for loans from the International Financial Institutions for development. This paper focuses on Ghana’s experience of the unbridled subsidies on petroleum products in spite of the striking parallels that exist between the state’s economic resources and the sustainability of petroleum subsidies. This paper argue that Ghana’s economic challenges in recent times, and its indebtedness to Oil Marketing Companies (OMCs) are as a result of the unbridled subsidy and politicization of petroleum products since Ghana’s Fourth Republic.
Keywords: Deregulation, Marketing, Petroleum, Political Economy, Regulation, Subsidy
The Impact of Colonialism on the Development of Marketing in Nigeria: A Dyadic Analysis (Published)
For about a century, the British colonial masters took full control of the political, economic and even the social life of the people called Nigerians today. This paper traces the impact of colonialism on the development of marketing in Nigeria. It takes a look at the pre-colonial marketing practices of the nation-states and kingdoms and the development or otherwise of marketing during the era of colonialism in Nigeria. It points out that what the colonialists did or failed to do to develop marketing theory and practice in Nigeria. It adopts a theoretical review of related literature and also took a position on this topic that while the colonialists had set-up some institutions, they did very little to strengthen the institutions and develop human capital in the country. The article makes far-reaching recommendations that will help enrich marketing theory and practice, strengthen marketing institutions and contribute to the general well-being of the people and the nation as a whole.
Keywords: Colonialism, Development, Indirect rule, Marketing, Nigeria, Segregation.
CONTRIBUTION OF BRANDING IN ENHANCING PERFORMANCE OF TOURISM SECTOR IN RWANDA (Published)
Strong branding has become a very important factor that influences consumer’s perceptions of a brand. Success in branding can enhance the performance of Tourism. This arises from understanding and managing the brand correctly to produce strong attributes that influence consumers when making their choices. Considering the increasing competition in the tourism industry, more governments have realized that branding can enhance Tourism and become a powerful tool to differentiate their countries and obtain competitive advantages by improving their image in tourism. The results have shown that the branding campaign in tourism is generally well developed and the image promoted corresponds in great measure with the one perceived by consumers. The value of this research concentrates on the fact that branding can enhance the performance of tourism in any Country. As a relatively new concept, branding still lacks empirical academic research. This study offers an original insight into branding as a tool in enhancing Tourism performance through image analysis. This research focuses on the importance of these dimensions (brand awareness, Tourism brand loyalty, Tourism brand image and perceived quality in enhancing the performance of the tourism sector in Rwanda ) of customer-based brand equity on consumer’s perceptions of a Tourism brand. This is based on the assumption that all these dimensions of customer based-Tourism brand equity have had influence on consumer’s perceptions of the Tourism brand. However, this project aimed to find out which among these three dimensions (brand image, brand loyalty and perceived quality) appears to have the least brand equity in Tourism with respect to Tourism brand awareness, Tourism brand image, and perceived quality and Tourism brand loyalty. A structured questionnaire was constructed to provide answers to research questions. In this study, over fifty questionnaires were distributed, and all of the questionnaires were realized. Despite the academic attention to branding in Tourism, there seems to be no clear path for authorities to follow in establishing their destinations as distinctive and strategic brands, A comprehensive research framework with both qualitative and quantitative methods was used to suggest and assess these brand elements, meanings, and assets for both supply and demand sides of the market.
Keywords: Branding, Development, Marketing, Performance, Tourism
CONTRIBUTION OF BRANDING IN ENHANCING PERFORMANCE OF TOURISM SECTOR IN RWANDA (Published)
Strong branding has become a very important factor that influences consumer’s perceptions of a brand. Success in branding can enhance the performance of Tourism. This arises from understanding and managing the brand correctly to produce strong attributes that influence consumers when making their choices. Considering the increasing competition in the tourism industry, more governments have realized that branding can enhance Tourism and become a powerful tool to differentiate their countries and obtain competitive advantages by improving their image in tourism. The results have shown that the branding campaign in tourism is generally well developed and the image promoted corresponds in great measure with the one perceived by consumers. The value of this research concentrates on the fact that branding can enhance the performance of tourism in any Country. As a relatively new concept, branding still lacks empirical academic research. This study offers an original insight into branding as a tool in enhancing Tourism performance through image analysis. This research focuses on the importance of these dimensions (brand awareness, Tourism brand loyalty, Tourism brand image and perceived quality in enhancing the performance of the tourism sector in Rwanda ) of customer-based brand equity on consumer’s perceptions of a Tourism brand. This is based on the assumption that all these dimensions of customer based-Tourism brand equity have had influence on consumer’s perceptions of the Tourism brand. However, this project aimed to find out which among these three dimensions (brand image, brand loyalty and perceived quality) appears to have the least brand equity in Tourism with respect to Tourism brand awareness, Tourism brand image, and perceived quality and Tourism brand loyalty. A structured questionnaire was constructed to provide answers to research questions. In this study, over fifty questionnaires were distributed, and all of the questionnaires were realized. Despite the academic attention to branding in Tourism, there seems to be no clear path for authorities to follow in establishing their destinations as distinctive and strategic brands, A comprehensive research framework with both qualitative and quantitative methods was used to suggest and assess these brand elements, meanings, and assets for both supply and demand sides of the market.
Keywords: Branding, Development, Marketing, Performance, Tourism
THE IMPACT OF MARKETING INFORMATION SYSTEM TO INCREASE THE MARKETING EFFICIENCY OF STORES IN KSA (CASE STUDY-AL-BAHA & BELJARSHY CITY) (Published)
This study aimed to reveal the interest that exerted by the stores in KSA in applying the marketing information systems and its role to raise the marketing sales, also the impact of marketing information systems on employers’ skills. The study is based on using the statical descriptive approach where the data collected by the primary and secondary sources. To achieve the objective of the study, 130 questionnaires have been distributed. 100 questionnaires were available for analysis. The statical methods are used to describe the variables of the study (means & standard deviation). One sample T-test, and simple correlation for testing the hypothesis. It was reached that there is a statical significant for using marketing information systems, sales growth and employers efficient. It was recommended the necessary to interest in effective and activated information system because it has a role raising the company skills and training the employers on using that system to increase the productivity of the companies and sales growth.
Keywords: KSA Stores, Marketing, Strategic Marketing, marketing efficiency, marketing information system
ON THE MARKETING RESEARCH OF CONSUMER PRICES AND INFLATION PROCESS (Published)
Marketing information is used by financial and insurance institutions, business enterprises and companies for planning, control, monitoring and forecasting purposes in business. One of the problems is the detection and investigation of factors, which influence the behavior of consumers. Such a basic factor is, for instance, the consumer prices index. The significance of this factor periodically changes and depends on the values of main indexes of economy such as export, import, taxes, labor force, unemployment, inflation level, etc., and also on the behavior of consumers, their taste, living standard and style. For the marketing research of this dependence it is necessary to construct mathematical models of the evolution of consumer prices. In the paper, a new auto regression model with disturbances is constructed for consumer prices. The model includes monetary aggregate amount and control function. A new formula is derived for the solution of an equation for the consumer prices index, which can be used in forecasting the inflation process. Using the data on the consumer prices index in Georgia, a numerical example is given, which illustrates the estimates of the coefficients of the constructed model and the inflation process forecast.
Keywords: Inflation, Marketing, auto regression model, consumer prices
THE ROLE OF RELATIONSHIP MARKETING IN BUILDING CUSTOMERS’ LOYALTY- A CASE STUDY OF THE MOBILE TELECOMMUNICATION INDUSTRY IN SOUTHERN PUNJAB-PAKISTAN (Published)
The objective of this research paper is to assess the role of relationship marketing in winning customers’ loyalty in the mobile Phone industry in Pakistan. De-regularization of the telecommunication sector in Pakistan has created huge competition to capture the maximum market share. For this purpose, industry marketers and planners are exercising various relationship marketing strategies to attract new customers and retain the old ones. To analyze the role of relationship marketing in building customers’ loyalty, the author has selected four independent variables such as service quality, price perception, brand image and value offers while customer’s loyalty is taken as dependent variable. A structured questionnaire containing 24 closed ended questions was developed to collect data from the field. The data was analyzed through Likert- scale. This scale is defined with 5 options of strongly agree on 5 and strongly disagree on 1. In order to check the reliability of the variables, a reliability test was conducted on 20 respondents of different age groups with different occupations. The results of this test showed positive significant relationship among the variables. The results of this study are robust and consistent with previous studies. This study provides in-depth knowledge about mobile users and cellular companies operating in Pakistan can take benefit from it.The finding of this research study is expected to be beneficial for the managers of the mobile operators in their decisions relating to the relationship marketing issues that are connected with the needs of the customers. These needs and interests of the customers, in turn, can increase their revenue and profits in the long-run.
Keywords: Brand, Customer, Loyalty, Marketing, Quality, Relationship, Satisfaction, telecommunications
AN EMPIRICAL STUDY ON THE EFFECT OF INTERNAL MARKET ORIENTATION ON FIRM PERFORMANCE: THE CASE OF COMMERCIAL BANKS IN GHANA (Published)
This paper provides empirical evidence on the effect of internal market orientation on the performance of commercial banks in Ghana. We adopt a quantitative research approach to analyse the relationship between internal market orientation and firm performance. A sample size of 136 marketing and human resource personnel of 15 randomly selected commercial banks in Ghana is used. Pearson’s correlation test and ordinary least square regression are used in data analysis. A strong positive relationship between internal market orientation and firm performance is found, r (131) = .863, p < .05. Similarly, internal market orientation significantly predicts firm performance at 5% significance level (t = 19.37, p = .000), with a variation of 74.4% accounted by internal market orientation. This implies that the performance of commercial banks is not limited to external marketing activities. Based on this evidence, commercial banks are expected to improve the effectiveness of their internal marketing endeavours to better leverage external market opportunities
Keywords: Firm Performance, Internal Market Orientation, Internal Marketing, Marketing, Services Triangle Model