Challenges in the Era of Globalization - iaabd

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Proceedings of the 12th Annual Conference © 2011 IAABD organizations are increasingly exporting their managerial know-how to African countries. Hence, knowing what marketing practices work in both countries should guide managers when making decisions about how to serve markets in emerging markets in Africa. We begin our study by examining the CMP framework within the context of the emerging market competitive business environment. Next, we explain our field surveys in China and Ghana. Finally, we present our analysis and the theoretical and managerial implications of our findings. Configurations of Contemporary Marketing Practices in Emerging Markets The CMP framework recently proposed by Coviello et al. (2002) enables researchers to compare the relatively importance of traditional transactional marketing with relationship marketing practices. According to Coviello et al. (2002) firms relate to their major markets with varying configurations of CMP on the basis of type of market served (consumer versus business) or type of market offer (goods versus services). The initial framework conceptualized CMP as a configuration of four aspects of managerial marketing practices including (1) transactional marketing, TM; (2) data base marketing, DM; (3) interaction marketing, IM; and (4) network marketing, NM. More recently, the authors have added a fifth element, e-marketing, to their CMP mix. We do not include in e-marketing in this study because we believe it is better examined as a marketing tool that can be used in conjunction with all four aspects of CMP in the 2002 model. Although studies of CMP in Argentina (Pels, Brodie and Johnston 2004), Russia (Wagner 2005), and West Africa (Dadzie, Johnston and Pels, 2008) confirm the robustness of CMP configurations in explaining how firms relate to their markets, these studies do not explore the organization performance outcomes when firms emphasize on aspects of CMP over another. According to management strategy scholars (e.g., Hitt, Ireland and Hoskisson, 2011; Porter, 1980, 1985; Miles and Snow, 1978), firms that follow a strategy are more likely to outperform their counterparts than those that do not. Porter (1980, 1985) offers three generic business strategies to guide the formulation of competitive activities, including cost leadership, differentiation and focus. These strategies have been found to be internally consistent (e.g., Dess and Davis, 1984; Hambrick, 1983) and are widely used in the global environment (e.g., Acquaah, Adjei and Mensa-Bonsu, 2008; Kim and Lim, 1988; Kim, Nam, and Stimpert, 2004). We focus on both pure strategies of differentiation and low-cost because we seek to validate Porter’s (1980) argument that firms that follow a pure strategy perform better than those that seek to follow both strategies. Differentiation strategy refers to the “…. integrated set of actions taken to produce goods and service (at an acceptable cost) that customers perceive as being different in ways that are important to them” (Hitt et al. 2011, page 110). A review of the literature suggests both transactional (Miller, 1988; Porter, 1985) and relationship marketing practices are essential for a successful differentiation strategy. Accordingly, it can be expected that organizations using a differentiation strategy can attain above average performance by emphasizing all approaches to contemporary marketing practices. A low-cost strategy refers to the “…integrated set of actions taken to produce goods or services with features that are acceptable to customer at the lowest cost, relative to that of competitors” (Hitt et al., 2011, p. 108). From the literature, it can be inferred that an emphasis on transactional marketing is more essential for a low-cost strategy firm than a relationship marketing emphasis. Research Methods In Ghana and China, data were collected in the leading commercial and political cities: Accra, in Ghana and Beijing (North China), Guangdong (South China), Shanghai (East China), and Xian (West China). All four focal constructs of the study were measured with existing scales after extensive validation and modification in both countries. Measures for differentiation and low cost strategies were adapted from items commonly used to measure Porter’s (1980) generic competitive strategies (e.g., Miller and Dess, 1993). The CMP configurations were measured with the 40 item scale operationalizing the four aspects of managerial marketing practices (i.e., TM, DM, IM, and NM) developed by Coviello et al. (2002). 690
Challenges in the Era of Globalization Edited by Emmanuel Obuah Organizational performance was operationalized as a two-dimensional construct including market performance (customer attraction, customer retention, and market share) and financial performance (Venkatraman and Ramanujam, 1986). Respondents were asked to provide actual ROI, profit, and sales estimates for the past year. In addition to other steps, we assessed the possible existence of common method bias in the two data sets, using a CFA approach to Harman’s One-Factor test (see, among others, Babakus, Yavas, and Ashill, 2009; Baldauf, Cravens, Diamantopoulos, and Zeugner-Roth, 2009). In the Ghana sample, the proposed model (χ 2 /df=2.85, CFI=0.88, NFI=0.82, NNFI=0.85, RMSEA=0.091) was compared to the one factor model. The results of the One-Factor model had a significantly worse fit (χ 2 /df=9.60, CFI=0.64, NFI=0.61, NNFI=0.59, RMSEA=0.170; ∆χ 2 10= 997.51, p
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Challenges in the Era of Globalizat
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Table of Contents Challenges in the
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Lennart Bangens, Goteborg, Sweden C
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Local Steering Committee Jacob Musi
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Track 1: Accounting, Finance, and I
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Abstract Challenges in the Era of G
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Abstract Determinants of Bank Lendi
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Empirical Results Challenges in the
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Table 3 Determinants of Competitive
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Research Findings Challenges in the
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Abstract: Study on Africa Governmen
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Abstract Challenges of Oil Revenue
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Abstract Land Based Sources of Poll
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Abstract On the Mitigation of Rever
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Assessment of pollutants in nigeria
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Figure 1: Lagos off shore survey po
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Track 5: Management Education Chall
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Table: Model Fitness Regression Sta
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Conclusion Challenges in the Era of
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37. Provision of sound education fo
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The cost structure Challenges in th
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Empirical Analysis Challenges in th
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Variable Coefficient Std. Error t-S
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Abstract The Changing Requirements
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The Model, Data and Variable Defini
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Track 8: Gender and Economic Develo
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Empirical results Challenges in the
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Abstract Gender, poverty and sustai
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Figure 1.1: Spread of directorships
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Theoretical Framework Challenges in
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Single 18.1 Masters and above 35.3
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Source: Field survey, 2010 Table 3:
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Track 9: Global Studies and Politic
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Conceptual Definitions Challenges i
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Conclusions and Implications Challe
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Abstract Exploring Organisational R
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district hospitals: Evidence from N
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Defining the Organisational Culture
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Table 1: A Summary of Operating Ban
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Discussion and Conclusion Challenge
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Abstract What does Globalization me
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Research Methods approach Challenge
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Convenient location of banks Challe
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Figure 1.Framework for Bank selecti
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Banks in Ghana Challenges in the Er
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References: Challenges in the Era o
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Figure 5: Causal loop diagram inclu
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The study seeks to: • examine typ
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Figure 2: Customer Perception of MT
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Relationship Commitment Total 1264.
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GOVERNMENT MoFED SECTORS Structure
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Results Challenges in the Era of Gl
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