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The value of leading customers in a crowdfunding-based marketing pattern.

ABSTRACT: Crowdfunding is gradually becoming a modern marketing pattern. By noting that the success of crowdfunding depends on network externalities, our research aims to utilize these network externalities to provide an applicable referral mechanism in a crowdfunding-based marketing pattern. In the context of network externalities, measuring the value of leading customers is chosen as the key to coping with the research problem, as the leading customers are considered to be critical in forming a referral network. Accordingly, two sequential-move game models (i.e., the basic model and the extended model) were established to measure the value of leading customers, and a matrix transformation process was adopted to solve the model by transforming a complicated multisequence game into a simple simultaneous-move game. Based on the defined value of leading customers, a network-based referral mechanism was proposed that explores exactly how many awards should be allocated along the customer sequence to encourage the leading customers to provide a successful recommendation, and this demonstrates two general rules of awarding the referrals in our model setting. Moreover, the proposed solution approach helps to deepen the understanding of the effect of the leading position, which is meaningful for designing a greater number of referral approaches.

SUBMITTER: Zhao J

PROVIDER: S-EPMC6464345 | biostudies-literature | 2019

REPOSITORIES: biostudies-literature

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The value of leading customers in a crowdfunding-based marketing pattern.

Zhao Jingjing J Li Yongli Y Ding Yunlong Y Liu Chao C

PloS one 20190415 4

Crowdfunding is gradually becoming a modern marketing pattern. By noting that the success of crowdfunding depends on network externalities, our research aims to utilize these network externalities to provide an applicable referral mechanism in a crowdfunding-based marketing pattern. In the context of network externalities, measuring the value of leading customers is chosen as the key to coping with the research problem, as the leading customers are considered to be critical in forming a referral ...[more]

PMID: 30986225

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Project description:Most micro-business managers in Nigeria do not see the adoption of digital marketing technology (DMT) as vital for business. Many consider it as a precondition to support managerial or operational activities, not as a tactical and/or strategic tool. Although most studies focused on large organisations, the outcome of such research may not be appropriate to micro-businesses. This is informed by the negligence of micro-businesses' idiosyncrasies and their thought of digitalization as a precondition for managerial activities without considering the value small businesses attached to these devices in terms of aiding the use as strategic tools. This renders micro-businesses' digitalization an under-reflected phenomenon. Yet, studies spend less on examining the factors that specifically stimulate the value micro-businesses attach to these applications, leading to constant adoption and usage. Hence, there is a need for a thorough exploration of the factors that shape the value of digital marketing applications in micro-businesses in Nigeria. The study is qualitative in nature and interviews (unstructured and semi-structured) were carried out with 26 micro-businesses which was drawn purposefully from the online database and underpinned by Technology, Organisation and Environment (TOE) framework. The study revealed eleven (11) critical success factors stimulating value micro-businesses attribute to digital marketing technology (DMT) adoption. These factors include long-term functional capacity, integration capacity, expansion capacity which are related to technology context. Collective capability, collaborative experience are linked to the organisation context while adaptive training, service delivery, customer fulfilment are linked to environmental context. The study also unveiled expectancy context which is linked to budget, growth and profitability and aid in the extension of the TOE framework. This study will be of importance to academics and practitioners because it provides further awareness into DMT adoption framework, factors critical to the DMT adoption and may assist in reducing the number of resources spent in search of information aimed at helping DMT adoption by micro-businesses.

Project description:BackgroundDrug companies rely on their marketing activities to influence physicians. Previous studies showed that pharmaceutical companies succeeded to manage physicians prescribing behavior in developed countries. However, very little studies investigated the impact of pharmaceutical marketing strategies on prescribing pattern in developing countries, middle-eastern countries. The objective of this research was to examine the influence of drug companies' strategies on physicians' prescription behavior in the Lebanese market concerning physicians' demographic variables quantitatively. Moreover, this study tested whether Lebanese physicians considered gifts and samples acceptance as an ethical practice.MethodsSampling was done by using a non-probability method. An online cross-sectional study was conducted through WhatsApp. A self-administered questionnaire survey was conducted during the months of February and March 2018. Cronbach's Alpha reliability coefficient was calculated. Data were statistically analyzed by using IBM SPSS statistics version 24 software. Chi-square and Cramer's v tests were used to finding sign correlation, and Spearman test was used to measure the strength and direction of a relationship between variables.ResultsResults found that pharmaceutical marketing strategies are correlated to physicians' prescribing behavior. We demonstrated that the majority of the promotional tools tested were mostly or sometimes motivating physicians to prescribe promoted drugs. The major tools that physicians agreed to be mostly motivated by are visits of medical representatives and drug samples while sales calls made by pharmaceutical companies are the less influential tool. Regarding gift acceptance, this study demonstrated that physicians consider gifts' acceptance as a non-ethical practice. Results showed that most physicians use free samples to treat their patients. We demonstrated that there is a relationship between physicians' prescribing pattern and their age, gender and the location of practice.ConclusionsFindings of this study provided an insightful work, serving as one of the first humble steps in the imminent direction of merging this paper with the previous literature. From a managerial perspective, pharmaceutical marketing managers of drug companies can use the research findings to design better their strategies directed to the Lebanese physicians who can also benefit from the results obtained.

Dataset Information

The value of leading customers in a crowdfunding-based marketing pattern.

Publications

The value of leading customers in a crowdfunding-based marketing pattern.

Similar Datasets

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