The “first principles” of marketing strategy

Palmatier, Robert W.; Crecelius, Andrew T.

doi:10.1007/s13162-019-00134-y

Cited by 26 publications

(26 citation statements)

References 148 publications

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“…A basic principle of this relationship is to create repurchase intention. Most scholars have demonstrated that the main challenge in the banking industry is to retain and enhance existing relationships rather than attracting new customers (Palmatier and Crecelius, 2019; Sayil et al , 2019; Yu and Tseng, 2019). Although the importance of customer satisfaction in developing repurchase intentions is emphasized in the bank marketing literature (Adel, 2019; Amin, 2016; Boateng, 2019), studies have failed to identify the role of client knowledge in influencing these relationships.…”

Section: Introductionmentioning

confidence: 99%

Repurchase intention: the effect of similarity and client knowledge

Herjanto

Amin

2020

IJBM

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PurposeThe objective of this study was to investigate the effect of appearance, lifestyle and status similarity on interaction intensity, satisfaction with a banker and repurchase intention. Also examined was the moderating effect of client knowledge in the enhancement of customer satisfaction with a banker.Design/methodology/approachA total of 800 questionnaires using the snowball sampling technique were performed to distribute the questionnaires to bank customers at different ethnic community centers in New Zealand. A total of 377 useable questionnaires were collected for further analysis.FindingsThe findings indicated that the three types of similarity affect interaction intensity differently. Lifestyle similarity was found to positively influence interaction intensity. The similarity constructs of appearance and status were found to have an insignificant relationship with interaction intensity. The findings show that appearance similarity and interaction intensity are able to enhance customer satisfaction with a banker. Customer satisfaction with a banker has a significant relationship with repurchase intention. Client knowledge influences the degree of interaction intensity and satisfaction with a banker.Practical implicationsThe findings of this study help bankers to understand the importance of their similarities with a customer and to design recruitment strategies and training sections to improve customer satisfaction.Originality/valueThis study contributes to the body of knowledge by incorporating interaction intensity, similarity and satisfaction with a bank into the repurchase intention model.

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Section: Introductionmentioning

confidence: 99%

Repurchase intention: the effect of similarity and client knowledge

Herjanto

Amin

2020

IJBM

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“…However, as customers move further into the journey, they may increasingly see the service provider and its frontline as part of their social circle, given more leeway for human service employees. However, this relatively simple logic may be complicated by the fact that customers are heterogeneous and dynamic (Palmatier and Crecelius, 2019). The importance of physical safety varies largely across the population and may change over time for every individual – just think about experiencing a virus-related death of a friend or family member.…”

Section: Future Research and Closing Thoughtsmentioning

confidence: 99%

To serve and protect: a typology of service robots and their role in physically safe services

Schepers

Streukens

2022

JOSM

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PurposeAlthough consumers feel that the move toward service robots in the frontline so far was driven by firms' strive to replace human service agents and realize cost savings accordingly, the COVID-19 pandemic has led customers to appreciate frontline robots' ability to provide services in ways that keep them safe and protected from the virus. Still, research on this topic is scant. This article offers guidance by providing a theoretical backdrop for the safety perspective on service robots, as well as outlining a typology that researchers and practitioners can use to further advance this field.Design/methodology/approachA typology is developed based on a combination of a theory- and practice-driven approach. Departing from the type of behavior performed by the service robot, the typology synthesizes three different service robot roles from past literature and proposes three new safety-related role extensions. These safety-related roles are derived from a search for examples of how service robots are used in practice during the COVID-19 pandemic.FindingsThe typology's roles are corroborated by discussing relevant robot implementations around the globe. Jointly, the six roles give rise to several ideas that jointly constitute a future research agenda.Originality/valueThis manuscript is (one of) the first to provide in-depth attention to the phenomenon of service customers' physical safety needs in the age of service robots. In doing so, it discusses and ties together theories and concepts from different fields, such as hierarchy of needs theory, evolutionary human motives theory, perceived risk theory, regulatory focus theory, job demand–resources theory, and theory of artificial intelligence job replacement.

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“…As depicted in Figure 1, marketing strategy is based on four foundational principles (Palmatier and Crecelius, 2019). In this paper, we contend that (1) all these principles resonate with the opportunity to embrace a people–planet–profits mindset in the marketing strategy, although (2) the third foundation (i.e.…”

Section: Building Block 1: Embrace People–planet–profits As Part Of T...mentioning

confidence: 99%

“…Manage customer heterogeneity and customer dynamics with a people–planet–profits touch . “All customers differ”, and “all customers change” are two of the four marketing strategy foundations identified by Palmatier and Crecelius (2019). A careful reflection about the extent to which customers care about people and/or planet when developing a marketing strategy is therefore crucial.…”

Section: Building Block 1: Embrace People–planet–profits As Part Of T...mentioning

confidence: 99%

“…The remainder of this article is organized as follows: first, we detail on the people–planet–profits concept, and how this Triple-P concept links to transformative service research. Next, we discuss how people–planet–profits can become part of a company's marketing strategy, thereby building on the core foundations of marketing (Palmatier and Crecelius, 2019). Next, we illustrate how people–planet–profits impacts the marketing implementation via the 7Ps of the marketing mix (product, place, price, promotion, people, process and physical evidence).…”

Section: Introductionmentioning

confidence: 99%

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People–planet–profits for a sustainable world: integrating the triple-P idea in the marketing strategy, implementation and evaluation of service firms

Larivière

Smit

2022

JOSM

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PurposeNumerous requests to also take care of people (i.e. societal impact) and planet (i.e. environmental impact) in addition to making profits (i.e. economic impact) urge service firms to rethink their marketing. In this paper, the authors therefore develop an organizing framework that integrates the people–planet–profits – also referred to as the “Triple-P” – concept in the marketing strategy, implementation and evaluation of service firms.Design/methodology/approachThis paper uses a conceptual approach that is rooted in the service marketing, marketing strategy and communication literature.FindingsThe foundations of marketing strategy (Palmatier and Crecelius, 2019) and the Gaps model of service marketing (Parasuraman et al., 1985) guide both academics and practitioners regarding (1) why the Triple-P idea should be part of a company's marketing strategy, (2) how people and planet could play an important role in the implementation stage by integrating the Triple-P concept in the service marketing mix and (3) what impact could be achieved and evaluated by closing the five gaps identified by the Gaps model, while fostering a people–planet–profits mindset.Research limitations/implicationsThe authors also identify areas for future research on this important topic.Practical implicationsTransformative value (people and planet) without profits is not attractive to firms. Profit-making organizations are in the best position to transform the world in a societal and environmental rewarding way.Social implicationsThe Triple-P affects the marketing strategy, implementation and evaluation of firms and contributes to a better, sustainable world.Originality/valueMarketing evolves from traditional over service and digital to transformative. Therefore, it is crucial to embrace transformative challenges in combination with economic returns, resulting in a new sustainable service era for marketers and managers.

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The “first principles” of marketing strategy

Cited by 26 publications

References 148 publications

Repurchase intention: the effect of similarity and client knowledge

Repurchase intention: the effect of similarity and client knowledge

To serve and protect: a typology of service robots and their role in physically safe services

People–planet–profits for a sustainable world: integrating the triple-P idea in the marketing strategy, implementation and evaluation of service firms

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