Digital Sales & Marketing Impact on Asian Market during Pandemic with the Effect of Creating Online Demand: Robust Optimization of Digital Marketing Intelligence
Purpose: Digital market become very vast due to COVID-19 because people prefer to
buy online as compared to physically. Social media apps popularity became very
widespread. Asian people now depend on digital sales & marketing. Due to
severe pandemic, enterprises became digitally vast whether they are small or
medium. Online demand & price are very low as compared to purchase items
physically. Because it also includes transportation costs etc. The focus of the
study is on the expansion of digital marketing intelligence in COVID-19 pandemic. Due to COVID-19 pandemic,
digital marketing intelligence expended which is also a positive sign of
pandemic in digital marketing as well as negative consequences also
faced because of it. Design/Methodology/Approach: A qualitative approach
was adopted for this research study and data has been collected through
interviews, telephonic and email discussion. Questionnaire formats were also
used where necessary, round table conferences were conducted with marketing
managers of online shopping platforms such as Alibaba.com, Taobao, Ali Express
and Shopee. Data was collected from 40 marketing managers of aforementioned
online shopping platforms. Findings: This study aims to investigate how
Pandemic Covid-19 made expansion in digital marketing intelligence in such a
great way which could not be imagined before
2019. It not only covered the progress of 20 years in only one/two years
which is a great achievement for China as well of Asian market. Practical
Implications: This research paper focused on digital marketing intelligence
which can be helpful not only in traditional marketing but it is more helpful
in digital marketing which is the need of Asian market and obviously need of
whole world. Originality/Value: There are many more studies about social
media but nobody discussed big five online
References
[1]
Abou-Elgheit, E. (2018). Understanding Egypt’s Emerging Social Shoppers. Middle East Journal of Management, 5, 207-270. https://doi.org/10.1504/MEJM.2018.093611
[2]
Ajina, A. S. (2019). The Perceived Value of Social Media Marketing: An Empirical Study of Online Word-of-Mouth in Saudi Arabian Context. Entrepreneurship and Sustainability Issues, 6, 1512-1527. https://doi.org/10.9770/jesi.2019.6.3(32)
[3]
Akter, S., Wamba, S. F., Gunasekaran, A., Dubey, R., & Childe, S. J. (2016). How to Improve Firm Performance Using Big Data Analytics Capability and Business Strategy Alignment? International Journal of Production Economics, 182, 113-131. https://doi.org/10.1016/j.ijpe.2016.08.018
[4]
Bailey, J. P. (1998). Intermediation and electronic Markets: Aggregation and Pricing in Internet Commerce. Ph.D. Thesis, Massachusetts Institute of Technology.
[5]
Bakos, J. Y. (1997). Reducing Buyer Search Costs: Implications for Electronic Marketplaces. Management Science, 43, 1676-1692. https://doi.org/10.1287/mnsc.43.12.1676
[6]
Brown, J. R., & Goolsbee, A. (2002). Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry. Journal of Political Economy, 110, 481-507. https://doi.org/10.1086/339714
[7]
Brynjolfsson, E., & Smith, M. D. (2000). Frictionless Commerce? A Comparison of Internet and Conventional Retailers. Management Science, 46, 563-585. https://doi.org/10.1287/mnsc.46.4.563.12061
[8]
Chen, Y., & Penhirin, J. (2004). Marketing to China’s consumers. McKinsey Quarterly, 62-73.
[9]
Claver-Cortés, E., Pertusa-Ortega, E. M., & Molina-Azorín, J. F. (2012). Characteristics of Organizational Structure Relating to Hybrid Competitive Strategy: Implications for Performance. Journal of Business Research, 65, 993-1002. https://doi.org/10.1016/j.jbusres.2011.04.012
[10]
Degeratu, A. M., Rangaswamy, A., & Wu, J. (2000). Consumer Choice Behavior in Online and Traditional Supermarkets: The Effects of Brand Name, Price, and Other Search Attributes. International Journal of Research in Marketing, 17, 55-78. https://doi.org/10.1016/S0167-8116(00)00005-7
[11]
Dwivedi, Y. K., Ismagilova, E., Hughes, D. L., Carlson, J., Filieri, R., Jacobson, J. et al. (2021). Setting the Future of Digital and Social Media Marketing Research: Perspectives and Research Propositions. International Journal of Information Management, 59, Article ID: 102168. https://doi.org/10.1016/j.ijinfomgt.2020.102168
[12]
Elkind, J. (2020). Shoppers Are Abandoning Their Online Carts More than Ever—Here’s Why. https://www.today.com/style/online-browsing-new-window-shopping-t182491 .
[13]
Granados, N., Gupta, A., & Kauffman, R. J. (2012). Online and Offline Demand and Price Elasticities: Evidence from the Air Travel Industry. Information Systems Research, 23, 164-181. https://doi.org/10.1287/isre.1100.0312
[14]
Hanaysha, J. R. (2018). Customer Retention and the Mediating Role of Perceived Value in Retail Industry. World Journal of Entrepreneurship, Management and Sustainable Development, 14, 2-24. https://doi.org/10.1108/WJEMSD-06-2017-0035
[15]
Huld, A. (2022). China Launches Digital Yuan App—All You Need to Know. China Briefing. https://www.china-briefing.com/news/china- launches-digital-yuan-app-what-you-need-to-know/#:~:text= On%20April%207%2C%202022%2C%20Tencent,with%20WeBank%2C%20Tencent's%20online%20bank
[16]
Inmar I. (2020). Steve Ustaris: VP Marketing, Retail Cloud’s Data and Media Solutions. https://www.inmar.com/blog/thought-leadership/everything- you-love-about-retail-media-networks-only-better
[17]
Janssen, M., van der Voort, H., & Wahyudi, A. (2017). Factors Influencing Big Data Decision-Making Quality. Journal of Business Research, 70, 338-345. https://doi.org/10.1016/j.jbusres.2016.08.007
[18]
Kusumasondjaja, S. (2018). The Roles of Message Appeals and Orientation on Social Media Brand Communication Effectiveness: An Evidence from Indonesia. Asia Pacific Journal of Marketing and Logistics, 30, 1135-1158. https://doi.org/10.1108/APJML-10-2017-0267
[19]
Lal, R., & Sarvary, M. (1999). When and How Is the Internet Likely to Decrease Price Competition? Marketing Science, 18, 485-503. https://doi.org/10.1287/mksc.18.4.485
[20]
Lee, H. G. (1998). Do Electronic Marketplaces Lower the Price of Goods? Communications of the ACM, 41, 73-80. https://doi.org/10.1145/268092.268122
[21]
Lister, M. (2022). 40 Essential Social Media Marketing Statistics in One Cool Infographic. WordStream. https://www.wordstream.com/blog/ws/2017/01/05/social-media-marketing-statistics
[22]
Mehralian, M. M., & Khazaee, P. (2022). Investigating the Interrelationships between Digital Marketing and Marketing Intelligence and Their Effect on Business Strategy. In 16th International Conference on Management and Marketing Intelligence, Economics and Finance (2022). ELSEVIER. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4190278
[23]
Miklosik, A., Kuchta, M., Evans, N., & Zak, S. (2019). Towards the Adoption of Machine Learning-Based Analytical Tools in Digital Marketing. IEEE Access, 7, 85705-85718. https://doi.org/10.1109/ACCESS.2019.2924425
[24]
Mishra, A. K., Rath, B. N., & Dash, A. K. (2020). Does the Indian Financial Market Nosedive Because of the COVID-19 Outbreak, in Comparison to after Demonetisation and the GST? Emerging Markets Finance and Trade, 56, 2162-2180. https://doi.org/10.1080/1540496X.2020.1785425
[25]
Nguyen K.A (2021) What Are Top 10 Ecommerce Sites in Asia—Updated 2023. https://magenest.com/en/top-ecommerce-sites-in-asia/
[26]
Nuseir, M. T., & Aljumah, A. (2020). The Role of Digital Marketing in Business Performance with the Moderating Effect of Environment Factors among SMEs of UAE. International Journal of Innovation, Creativity and Change, 11, 310-324.
[27]
Oliveira, C. S. C. D. A. (2014). Consultoria e formação em Marketing Digital para PME’s. Ph.D. Thesis, Instituto Politécnico do Porto. Instituto Superior de Contabilidade e Administração do Porto.
[28]
Ramos, C. M., Matos, N., Sousa, C. M., Correia, M. B., & Cascada, P. (2017). Marketing Intelligence and Automation—An Approach Associated with Tourism in Order to Obtain Economic Benefits for a Region. In M. Antona, & C. Stephanidis (Eds.), International Conference on Universal Access in Human-Computer Interaction (pp. 402-411). Springer. https://doi.org/10.1007/978-3-319-58706-6_32
[29]
Ravindran. A (2021). Impact of COVID-19 on Digital Marketing. https://www.linkedin.com/pulse/impact-covid-19-digital-marketing-arjun-ravindran
[30]
Richter, A. (2020). Locked-down Digital Work. International Journal of Information Management, 55, Article ID: 102157. https://doi.org/10.1016/j.ijinfomgt.2020.102157
[31]
Samiee, S. (1998). The Internet and International Marketing: Is There a Fit? Journal of Interactive Marketing, 12, 5-21. https://doi.org/10.1002/(SICI)1520-6653(199823)12:4<5::AID-DIR2>3.0.CO;2-5
[32]
Sha, Y., & Sharma, S. S. (2020). Research on Pandemics Special Issue of the Journal Emerging Markets Finance and Trade. Emerging Markets Finance and Trade, 56, 2133-2137. https://doi.org/10.1080/1540496X.2020.1795467
[33]
Sharma, S. S. (2020). A Note on the Asian Market Volatility during the COVID-19 Pandemic. Asian Economics Letters, 1, Article ID: 17661. https://doi.org/10.46557/001c.17661
[34]
Sivarajah, U., Kamal, M. M., Irani, Z., & Weerakkody, V. (2017). Critical Analysis of Big Data Challenges and Analytical Methods. Journal of Business Research, 70, 263-286. https://doi.org/10.1016/j.jbusres.2016.08.001
[35]
Smith, K. T. (2011). Digital Marketing Strategies That Millennials Find Appealing, Motivating, or Just Annoying. Journal of Strategic Marketing, 19, 489-499. https://doi.org/10.1080/0965254X.2011.581383
[36]
Statista (2022a) Number of Internet and Social Media Users Worldwide as of January 2023. https://www.statista.com/statistics/617136/digital-population-worldwide/
[37]
Statista (2022b). Frequency of Online Shopping in India as of June 2022. https://www.statista.com/statistics/1324602/india-online-shopping-frequency/
[38]
Statista (2022c). Penetration Rate of Online Shopping in China from 2012 to June 2022. https://www.statista.com/statistics/302071/china-penetration-rate-of-online-shopping/
Tan, T. T. W., & Ahmed, Z. U. (1999). Managing Market Intelligence: An Asian Marketing Research Perspective. Marketing Intelligence & Planning, 17, 298-306. https://doi.org/10.1108/02634509910293124
[42]
Walter, Z., Gupta, A., & Su, B. C. (2006). The Sources of on-Line Price Dispersion across Product Types: An Integrative View of on-Line Search Costs and Price Premiums. International Journal of Electronic Commerce, 11, 37-62. https://doi.org/10.2753/JEC1086-4415110102
[43]
Wang, S., Ye, Y., Ning, B., Cheah, J. H., & Lim, X. J. (2021). Why Do Some Consumers Still Prefer in-Store Shopping? An Exploration of Online Shopping Cart Abandonment Behavior. Frontiers in Psychology, 12, Article 829696. https://doi.org/10.3389/fpsyg.2021.829696
[44]
Weng, W. W.-H. (2021). Effect of Internet of Things on Marketing Intelligence and Business Strategy: An Organizational Capability Perspective. International Journal of Electronic Commerce Studies, 12, 209-228. https://doi.org/10.7903/ijecs.1906
[45]
Wilson, S. G., & Abel, I. (2002). So You Want to Get Involved in E-Commerce. Industrial Marketing Management, 31, 85-94. https://doi.org/10.1016/S0019-8501(01)00188-2
[46]
Wymbs, C. (2011). Digital Marketing: The Time for a New “Academic Major” Has Arrived. Journal of Marketing Education, 33, 93-106. https://doi.org/10.1177/0273475310392544
[47]
Yu, J. (2006). Marketing to Chinese Consumers on the Internet. Marketing Intelligence & Planning, 24, 380-392. https://doi.org/10.1108/02634500610672116
[48]
Zettelmeyer, F. (2000). Expanding to the Internet: Pricing and Communications Strategies When Firms Compete on Multiple Channels. Journal of Marketing Research, 37, 292-308. https://doi.org/10.1509/jmkr.37.3.292.18777
[49]
Zettelmeyer, F., Morton, F. S., & Silva-Risso, J. (2006). How the Internet Lowers Prices: Evidence from Matched Survey and Automobile Transaction Data. Journal of Marketing Research, 43, 168-181. https://doi.org/10.1509/jmkr.43.2.168
