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One of the most important elements of economic and business activity is developing a strategic marketing plan to improve growth prospects. One of the most important aspects of this in marketing is to understand the behavioral patterns of customers, in order to meet their needs and achieve business objectives. The consumer behavior analysis is key t...
Citations
... On the contrary, our study is rather supposed to show the applicability of IoT services in the aforementioned context. Conjoint analysis is an excellent technique when it comes to delivering preliminary results regarding consumers' preferences towards new products and services [44]. Indeed, our research falls into this category. ...
This study investigates the impact of Internet of Things (IoT) services from a smartphone app in a retail grocery
shopping situation. It examines four variables, namely price, expiry date, quality indicators and offers. All four
variables were examined in relation to two levels; traditional information and IoT services. A scenario was
arranged whereby 226 participants were to purchase, among other products, fresh salmon in a grocery store
using the store's smartphone app. Findings from a conjoint study show that the following IoT services; “updated
expiry date”, “aggregated national customer experience index”, and “personalized offer based on product in the
basket” evoked the approach and abated avoidance tendencies to explore the smartphone app, while simultaneously
increasing the likelihood of buying based on information from the app. The IoT service “Real-time price”
had a varied impact on participant approach-avoidance tendencies to interact with the app. Scenario simulation
analysis shows that some IoT services can be a deal-breaker in a competitive grocery market. Consequently,
analyzing the impact of IoT services through the lenses of approach-avoidance distinction and choice indication
can help retail grocery managers develop more effective marketing strategies that deliver convenience to the
consumers.
... On the contrary, our study is rather supposed to show the applicability of IoT services in the aforementioned context. Conjoint analysis is an excellent technique when it comes to delivering preliminary results regarding consumers' preferences towards new products and services (Galli et al., 2017). Indeed, our research falls into this category. ...
Internet of Things (IoT) presents an opportunity for retailers to develop an environment that makes physical things such as mobile phone, shopping basket, store shelves, digital display, and even the product itself smart, allowing real-time interaction with customers. This study aims to expand understanding of how IoT can influence healthy choice in the grocery choice situation. To investigate the impact of IoT mediated stimuli, we arranged a conjoint experiment in which participants purchased a healthier frozen pizza in a grocery store using a smartphone app. Findings from the study will be discussed in relation to how IoT mediated stimuli can influence consumers’ healthy food choice. This study contributes both to researchers and managers who want to understand how IoT technology influence consumers’ in the grocery choice situation.
In the context of the hotel industry, one of the biggest and capital-intensive challenges a decision maker has is to decide on the capacity of the hotel. While taking this decision, the decision maker needs to take seasonality of demand into consideration. Also, the interplay between price and demand also play a major role on this decision. In this study, an effort is made to simultaneously identify the optimal capacity and pricing policy of a hotel in the presence of a stochastic demand environment. Differential calculus is used to identify the solution. Both capacity and price are considered as decision variables for the decision maker. To comply with reality, the seasonality in demand is incorporated in the form of bi-level demand. Numerical illustrations are also shown to explain the decision-making process. This study offers a starting point for an entrepreneur to decide both capacity and pricing for their upcoming hotel.
This is a case study concerning technology start-up companies involved in systems thinking during new product development. It is found that systems thinking is pivotal to assisting project managers in moving a project from start to successful completion. The essence of systems thinking is getting all teams in a company to work together as one, to push forward new product development. The study reveals some of the challenges associated with implementing the systems theory in new product development for these companies. This area of study holds promise for continued future research. However, there are still some implementation issues in the real world that have been identified and perhaps are in need of further exploration.
