Critical Developments in Commerce Theory and Practice - Article Example

Critical Developments in Marketing Theory and Practice 0 Evolving to a New Dominant Logic for Marketing Stephen L. Vargo and Robert F. Lusch in their widely acclaimed paper ‘Evolving to a New Dominant Logic for Marketing’ aver that in its most primitive forms, marketing was considered as an exchange of goods. However over the years, the discipline of marketing has evolved considerably from a goods-dominant (G-D) logic to a service-dominant (S-D) logic. 1.1 Meaning of S-D Logic The authors urge marketers not to consider the restricted view of services. Intangibility, which has been long considered as the most important characteristic that distinguishes goods from services, should not be the only central point while defining the gamut of services. Likewise the S-D logic should not be considered planned only with respect to value added services and the services sector. Taking a comprehensive view of the term services, Vargo and Lusch (2004) state that services refer to the application of skill and knowledge that benefits different entities; the firm as well as the customer. The benefits may be passed on through deeds, performances and processes. The firm needs to master some of these deeds and processes and develop core-competencies. At the heart of the S-D logic is the recognition that operant resources are extremely important because of their ability to produce effects. It is the operant resources that make the best of the finite operand resources. The S-D logic asserts that skills and knowledge are exchanged in the marketplace. The consumers do not buy tangible goods and services; rather they buy benefits that satisfy their needs and wants. Knowledge is source of competitive advantage in the present day competitive world. The S-D logic works on the premise that the customer is a co-producer and marketing is relational and customer-oriented (Vargo and Lusch, 2004). The customer continuously interacts with the marketer and thus operates as an operant resource. An entity needs to identify a set of consumers (target market) who would benefit most from the competencies that it possesses. The service-centered view determines market feedback by analyzing financial performance of the firm. It strives to improve the market offerings and improve financial performance. 1.2 Comparison of G-D Logic and S-D Logic The service-centered view is very different from the goods-centered view that considered making and distributing goods as the main task of economic activity. This view suggested that physical goods had embedded utility and that marketers provided the place, time and possession utility to these operand resources. The practitioners of good-centered view adopted the “make-and-sell” approach rather than the “sense-and-respond” approach that proponents of service-centered view of marketing put forth (Vargo and Lusch, 2004). The G-D logic asserts that people exchange goods that are an operand resource. The emerging S-D logic states that people exchange to acquire benefits and therefore the knowledge and skills that a firm possesses act as an operant resource. Proponents of G-D logic would assert that a consumer buys an automobile while the advocates of S-D logic would affirm that the consumer buys transportation. The goods-centered dominant logic holds the view that the customer is a recipient of products and to that extent is an operand resource that the firm must possess. On the other hand, service-centered dominant logic states that interaction with the customer is a sine qua non for the marketer and therefore the customer too is an operant resource. One of the fundament differences between these two schools of thought is the determination and meaning of value. While the G-D logic claims that value is determined by the producer, the S-D logic claims that value is perceived by the consumer. The latter schools suggest that the firm can, at best, make value propositions. Last but not the least; the G-D logic asserts that wealth is created by owning, controlling and manufacturing operand resources while the S-D logic claims that wealth is created through the application of knowledge and skills that operant resources possess. 1.3 Contribution of S-D Logic The S-D logic has made monumental contributions in the field of marketing (Williams and Aitken, 2011). The S-D logic has been successful in negating the depersonalising effects of specialisation which distanced the producers from the customers. This school of thought considers human resources as a valuable resource to the firm. Companies subscribing to this view hold the notion that human resources provide them long term sustainable competitive advantage. The service dominant logic has recognised the customer as the co-producer and has thus provided the basic building block of customer-centric marketing. The present day marketer is appreciative of the fact that firms cannot ignore the needs and wants of the customers. The marketer’s job is not restricted to selling what has been produced. The marketer’s job is to apprise the firm of what needs to be produced. This information is derived from marketing research and suitable action is taken on it in connivance with other departments of the organisation including finance, operations, human resources and production. Ballantyne and Aitken (2007) aver that the service interaction emerges when buyers and sellers interact as well as when buyers use goods. This proposition holds true even in business to business (B2B) transactions. 1.4 Limitations of S-D Logic OShaughnessy and Nicholas (2009) have stated that the S-D logic is not a rational proposition. They have categorically stated that the S-D logic cannot replace other perspectives of marketing. The definition of services as given by Vargo and Lusch is so broad that it cannot have any operational meaning. The S-D logic has also been criticised for terming knowledge as the fundamental source of competitive advantage. In reality it is the organisational culture and systems that promote the development of competitive advantage, claim the detractors of the S-D logic. The S-D logic is still evolving and there are a lot of questions that need to be answered (Sweeney, 2007). The S-D view should be used in conjunction with other marketing paradigms. In fact the discipline of marketing warrants a multi-paradigm approach in most settings. 1.5 Conclusion The S-D logic thrives on the simple yet powerful idea that goods act as ‘service appliances’. The effects of the S-D logic are far reaching as the idea spans the gamut of the services sector as well as tangible goods. The thesis may have been challenged for its shortcomings; however the proposal put forth by Vargo and Lusch finds widespread application in the present day competitive world. 2.0 Community Relationship Management and Social Media  A social media presence and a social media strategy have become the need of the hour for every organisation. The platform of social media appears mouth watering for various reasons including vast reach and low cost. Firms operating in diverse businesses including clothing, health & beauty, entertainment and jewelry have jumped onto the social media bandwagon. Social media has infused confidence in the smallest of firms that they can become global players (Grensing-Pophal, 2012). Social media, buoyed by a series of technological innovations, has been instrumental in facilitating the creation of low-cost content and interaction amongst online users. While the platform has bestowed a lot of advantages, it also presents many challenges to the marketing manager operating in consumer markets. 2.1 The Stumbling Blocks While many marketers may know what needs to be done to tap the potential of social media, few may actually know how that is to be done. The implementation aspect is thus one of the biggest challenges of social media marketing (Hosford, 2012). Market research suggests that gauging the effectiveness of a social media campaign, preserving information, engaging people online and spotting the opinion leader in an online community are the other major challenges of online social marketing (Okazaki and Taylor, 2013). While global reach is one of the advantages of social media, the same dimension features in the list of demerits. The social media transcends numerous countries, cultures, and languages and is therefore more complex to deal with. The ensuing discussion elaborates the other main challenges that marketers have to confront with regard to social media. 2.1.1 Users of Social Media and Firm’s Customers While there may be a lot of people using social media, there is no guarantee that these people are a firm’s customers (Ang, 2011). Using the same analogy, all the customers of the firm may not be users of social media. There may be people who interact online but use products of different firms. So even though social media enables marketers reach customers easily and in a cost effective manner, the marketer may not be in a position to reach the entire targeted population. 2.1.2 Level of Intimacy The exact demographic profiles and other personal details of the users of social media are not known to the marketer. In-depth probing of such details may give rise to privacy issues. The highly sophisticated tools of customer relationship management (CRM) thus cannot be applied to social media users. Moreover, the database of social media users cannot be fully integrated into the customer database that a firm already possesses (Ang, 2011). 2.1.3 Customer to Customer Interaction The social media has provided customers with a platform to voice their opinion with utmost ease. This platform is an extremely potent tool in taking the customer’s opinion to different parts of the world in no time. The marketer has to be wary of any negative comment or criticism about their market offering as it can go viral and spread like forest fire. Many people join online communities to share their experiences. Adverse comments by social media users can cause a lot of damage to the brand’s image. 2.1.4 Country Specific Content This challenge is specific to marketers engaged in global marketing. Such marketers have to ensure that they continuously update the regional and country-specific content (Grensing-Pophal, 2012). The socio-cultural environment varies from region to region and therefore the same type of content may not be appropriate. Since varying degree of development and changes take place in different parts of the world, it is important for marketers to refresh and update country specific content on their online platforms. In terms of advertising, the message delivered through social media has to resonate with the local population. 2.2 Uses of Social Media The limitations notwithstanding, social media can be used as an effective platform by marketers for culling vital information from the customers, spreading awareness about the brand and engaging customers for profitable, long term associations. The marketer can also exploit the social media for branding, website traffic-building, product promotion and competitive intelligence (Hosford, 2012). The marketing department should employ tech-savvy personnel to manage the online communities and harness the power of social media. 2.2.1 Marketing Research Marketers should use social media to gain customer insights. Firms can easily find out customer likes and dislikes as well as attitude of the customers towards their brands. Sophisticated tools that calculate the net sentiment score of a brand by using online data are now available. 2.2.2 Tap Opinion Leaders The task of the marketer is to identify, tap and nurture the opinion leader in the online community. A positive comment by the opinion leader goes a long way in creating a positive attitude amongst all members of the online community. 2.2.3 Targeted Advertising The marketers should send relevant and pertinent advertisements to the online users by using data mining techniques. Firms can use social media to provide a lot of relevant information by tapping the user’s personal interests. 2.2.4 Crowd Sourcing Marketers can use social media as an effective crowd sourcing platform. Procter & Gamble is one of the many companies that has benefitted by employing “the best minds in the world”. The open innovation platform called "Connect +Develop" enabled the FMCG major to garner 50 percent of new ideas through external collaboration (Baker, 2010). Marketers can use social media platforms for various aspects including generating ideas for new product development and soliciting brand names from the customers. 2.3 Conclusion Social media has its advantages as well as disadvantages. At the end of the day it is a cost effective medium to reach a large number of people across geographical boundaries. Marketers can make full use of this medium to create a buzz and visibility for their brand. At the same time, they need to appreciate the fact that they can exercise limited control over the direction and content of social media communication. Marketers would do well to integrate social media marketing in their overall promotion mix and not use this tool in isolation. 3.0 Marketing Systems—A Core Macromarketing Concept A marketing system may be defined as a network of individuals, groups and/or entities that participate in economic exchange in a sequential manner (Layton, 2007). This network is responsible for designing, manufacturing and distributing goods and services as per the needs of the customers. The existence of marketing systems is not a new phenomenon. Moreover, the existence of such systems can be traced to different regions. It is noteworthy that these marketing systems existed in different parts of the world and operated in accordance with local conditions. While the basic framework of the system remained the same, changes occurred on account of geographical conditions, level of education of traders, local beliefs and tradition. It is therefore important for marketers to have knowledge of the system in which their firm operates. 3.1 Diverse Marketing Systems Layton (2007) quotes various examples to substantiate the claim that diverse marketing systems exist. The Aalsmeer Flower Market is a major hub for global trade in flowers. On average 19 million flowers and plants are traded at this market every day. The area provides an ideal platform for 6000 flower growers and 1100 wholesales and exporters to carry out business transactions. The market uses the ‘Dutch Auction’ system wherein a large clock moves backward from one hundred to one. The number on the clock represents the per unit price of the flower or the plant being traded. The buyer has to press the button at the price where he is willing to buy the product. A marketer who is unfamiliar with this modus operandi will not be able to purchase flowers and plants at the Aalsmeer Flower Market. The entire system is automated and the information about the transaction is passed on to all stakeholders; the buyer, the grower as well as the central invoice system of the market. The operations of the 7-Eleven Convenience stores in Japan point to the fact that the marketing system determines the assortment. The 7-Eleven Convenience stores in Japan have thrived because they operate in a system that harnesses information technology to the fullest. The product assortment at the 7-Eleven stores especially the food items are determined by weather forecasts. Immaculate management of information flows enables tracking of store sales with the help of a sales terminal (Layton, 2007). 3.2 Technology and Marketing Systems The use of state-of-the-art technology has led to the advent and growth of a new kind of marketing system; the online world. The use of computer technology, advanced information systems and strategic alliances has shrunk the world. While marketers have access to new geographies and hitherto untapped regions, consumers benefit from heightened competition and lower prices (Iyer et al, 2002). Companies like ebay and Amazon have been extremely successful in such marketing systems. It is important to note that the assortment available to all members of the marketing system will not be identical. This assortment, tangible or intangible, may vary by place and time (Layton, 2007). 3.3 Level of Aggregation Marketing systems have the potency determine the level of aggregation. Layton (2007) gives the example of clothes moving from a charity bin in England to Zambia. The garments change multiple hands and cross various geographies on their way to the desired destination. To put things in perspective, a piece of cloth that was sold as new in England at $75 fetched merely $2.5 in Zambia. The second hand market exists not only for clothes but also for consumer durables like cars, washing machines and other gadgets. Marketers have realised that consumers find it difficult to dispose of durable products. They have therefore devised sales promotion schemes that revolve around ‘exchange’ offers. A marketing system has thus evolved out of a need of consumers to get rid of the used products. Customers are able to dispose off their durable products in a hassle free manner and get a reasonable amount due to such schemes. The aforesaid discussion establishes that marketing systems exist and operate in diverse contexts. Furthermore, with advancements in technology, these contexts may evolve and become more complex. 3.4 Importance of Marketing Systems Without the relevant knowledge of the marketing system, the marketer will not be in a position to successfully compete in the market place. Marketers need to be aware that marketing systems may be horizontal, vertical or historical. The prevalence of a particular system is contingent on the assets and resources available with different entities within the system and the prevailing political, economic, social-cultural, technological, environmental and legal (PESTEL) conditions (Yuksel, 2012). Marketers need to have a thorough knowledge of the marketing system to enable them understand the level of aggregation, fix margins and decide the product assortment keeping in mind the distribution network. The flows that take place in a marketing system include ownership flow, possession flow, finance flow, risk flow, and information flow. Awareness and knowledge of these flows, including the pertinent rules and regulations, is a critical part of the marketer’s job. This knowledge plays an important role in a company’s success. FMCG major Unilever has been extremely successful in India due to its in-depth knowledge of the market. The company has, through its subsidiary HUL, set up a robust marketing system in India and has penetrated the rural areas of the country. The social-cultural factors prevailing in the market also play a key role in determining the marketing system, level of aggregation and product assortment. McDonald’s revamped its menu after it commenced Indian operations. Majority of the Indian population did not eat beef due to religious beliefs. The fast food giant had to remove beef from all its products in order to operate in the Indian market (Kulkarni and Lassar, 2009). 4.0 Communicating Responsibility-Practicing Irresponsibility in CSR Advertisements The purpose of organisations is to earn profits and maximise the wealth of their shareholders. In addition to this economic objective, firms are expected to act responsibly towards the society. The concept of triple bottom line (TBL) approach, which suggests that that the managers need to cater to three Ps; profits, people and planet, has gained prominence (Slaper et al, 2011). The gamut of corporate social responsibility (CSR) is indeed a vast one. It ranges from helping the underprivileged sections of the society to incorporating business processes that do not cause harm to the environment. The present day organisations have embraced CSR initiatives with open arms. In addition to sustainable development, adoption of socially responsible activities leads to more customer loyalty, better brand image and in the ultimate analysis, higher profitability. 4.1 Doubts Surrounding CSR Communications An organisation has many stakeholders. The customers, shareholders, employees and government are the prominent ones. The organisation has to update this diverse and observant set of audiences about its CSR initiatives and achievements. The most commonly used form of such communications is the annual reports which invariably carry a separate, comprehensive section on what the company has done to ameliorate the condition of the environment and how it has paid back to the community in which it operates. Additionally, organisations publish dedicated reports that detail the CSR activities undertaken by them. The corporate websites also serve as a potent tool to disseminate such information. These communications customarily take the form of descriptive analysis and strive to legitimise the firm’s social actions. While organisations use CSR advertisements to create a specific image, research indicates that such advertisements have low communication effectiveness. It has also been seen that companies are reluctant to publicise their CSR initiatives for fear of criticism from different stakeholders. Organisations are accused of corporate social irresponsibility (CSI) where the audience feels that CSR communication is being used as a diversion tactic. The companies also run the risk of increasing expectations if they heavily advertise such deeds. Moreover, if large companies communicate their CSR accomplishments aggressively, stakeholders may perceive it to be an act of greenwashing, a term used to describe a situation where a company professes to be ‘green’ while in reality it does little to preserve the environment. Experts also opine that widespread communication of such initiatives may lead to boomerang response (Illia et al, 2013). 4.2 What Managers Need to Do It is therefore important for managers to communicate honestly about their CSR initiatives and accomplishments. The ensuing discussion highlight aspects that managers need to keep in mind to reduce stakeholder skepticism and improve CSR reputations. 4.2.1 Humility Murray (2003) avers that the key word is ‘humility’. A company would do well to humbly communicate about its social claims rather than assert that it has perfectly adopted the triple bottom line approach. Companies should not project CSR activities as the sole objective of the organization. Such activities should ideally be presented as having been integrated into the mission and vision of the company. 4.2.2 Tackle Problematic Issues It is a general tendency to try and keep problems under the carpet. In the event of bad publicity, companies try and avoid the issue. A better strategy would be to take the onus of explaining the issues and detailing actions that have been taken to rectify the problem. A case in point is that of BP’s ‘Beyond Petroleum’ campaign that the company adopted to profess itself as an environment friendly company after the Gulf of Mexico oil spill in 2010 (Illia et al, 2013). 4.2.3 Choice of Media Managers should pay due attention to the choice of media while communicating their CSR initiatives and accomplishments. Social media may not be the best choice for such communications. While a message may go viral and thereby considerably increase exposures, managers may also find it difficult to control the negative comments on the social media. Moreover, by nature, CSR communications are relatively complex and therefore need a higher attention span by the audience to be correctly understood. Magazine inserts and well-designed websites would therefore work best for such communications. 4.2.4 Practice What You Preach ‘Do what you say’ is one motto that all companies need to adopt. Companies should realise that they are monitored by different stakeholders. If a firm is seen making the requisite effort towards social causes, any communication with regard to CSR automatically becomes more creditable. The reverse is also true. If the firm is seen as indulging in an irresponsible behavior in its day-to-day working, the stakeholders will be cynical of the CSR communication. Tixier (2003) avers that actual deeds of the company will serve as the best communication tool. 4.2.5 Make Legitimate Claims A company should make CSR claims that are high on the believability quotient. An advertisement claiming that the adoption of new technology has led to a ‘5 percent reduction’ in energy consumption is likely to be accepted by the stakeholders because the claim appears to be legitimate (Perks et al, 2013). 4.2.6 Impression Management Communication managers can use impression management techniques including corporate story telling as a means to lend veracity to its CSR claims (Spear and Roper, 2013). Impression management techniques can be divided into proactive strategies and defensive tactics. The proactive strategies include ingratiation, self-promotion, intimidation, exemplification, and supplication while the defensive tactics include justifications, disclaimers, apologies and pro-social behavior (Perks et al, 2013). 4.2.7 Third Party Association Third-party associations can be really advantageous. It is a widely accepted notion that commercial corporations are best at doing what they are set up for; earning profits. Certain social objectives can be achieved by associating with a third-party. A large firm may tie up with a NGO to help the needy and downtrodden people in the society. Likewise, being a member of the Fair Labor Association (FLA) indicates the company’s commitment towards adhering to internationally accepted labor laws. Such associations lend a lot of credibility and authenticity to the firm’s social actions. 5.0 Frontiers of the Marketing Paradigm in the Third Millennium Marketing has evolved over the years. This evolution can be traced from the functionalist paradigm to the exchange paradigm. The role of marketing is no longer restricted to new product development and sales. The gamut of marketing has widened to rope in complete customer care. Advancements in technology and information systems and their use in marketing have accorded the status of science to marketing. The shifts in marketing paradigm pertain to consumer experiences, marketing networks and the realization of the need to indulge in sustainable business practices. As experts deliberate on the true and embryonic marketing paradigm, various relevant propositions have been put forth by academics and practitioners. Among these the resource-based theory of competition and the service dominant logic deserve special mention. Some of the important changes that have emerged in the field of marketing can be traced to the developments in the field of technology and medical science. As these two disciplines interact and become more sophisticated, the field of marketing becomes more challenging and interesting. The advent of neurological psychology has given a new dimension to the understanding of consumer behavior. 5.1 Sensory Marketing Marketers are enamored with the possibility of being able to stimulate the human senses. The field has given an impetus to a whole lot of industries including leather seats and massages. It is important to note that marketing has learnt and is continuing to do so from other disciplines like cognitive neuroscience, cellular biology and molecular genetics (Achrol and Kotler, 2012). The movie industry is known to have tantalised the human senses since time immemorial. These days marketing, armed with suitable technology, strives to do precisely the same thing. Marketers have come to believe that consumers do not buy products, they buy benefits and experiences. In order to improve the customer experiences, marketers have embraced technology with the objective of designing haptic experiences into market offerings. High-tech video games with inbuilt thunder and lightning as well as vibrations are a classic example of the same. The cyber world has the potency to shape the real, physical life of the customer and link it to digital reality. 5.2 Neuromarketing The advancements in technology and shared knowledge from other disciplines have tremendously helped marketers to understand consumer behavior. Magnetic Resource Imaging (MRI) has for long been effectively used in medical science. The fMRI (functional MRI) has enabled doctors to understand cognitive neurophysiology. Neuroscience has now answered a question that has perplexed marketers for a long time. In most blind taste test involving Coke and Pepsi, subjects preferred the taste of Pepsi. However, the same subjects purchased coke while shopping. The fMRI conducted on these subjects revealed that ventral putamen region of the brain was activated during the blind taste tests while the prefrontal cortex region was activated when the brand name was disclosed to the customers (Barkin, 2013). The other applications of neuroscience in the field of marketing include gauging advertising effectiveness, testing product appeals, checking the suitability of celebrity endorsement, selecting brand name and choosing the appropriate media (Fugate, 2007). 5.3 Nanotechnology Nanotechnology, as a field of science can be credited with providing marketers products ranging from miniature storage devices to rough and tough vehicle tires. The beneficiaries of this technology range from army personnel who have got lightweight military equipment to sportspersons who have got durable tennis balls. These days nanomedicines can be made that have the potency to satiate the taste buds of millions of people all over the world. The same technology can be used to design devices that provide total olfactory sensation control to the user (Achrol and Kotler, 2012). 5.4 Structural Changes The aforesaid scientific and technological developments have also led to changes in marketing structures. The present day organisations have turned into multifaceted, worldwide business networks. A marked shift in control mechanisms is also being witnessed. The power-based synchronization mechanisms are a thing of the past. Relational systems are a norm these days. R&D which was once considered as a burden that digs a hole in the pocket is considered as a source of competitive advantage now. Organisations have embraced the open innovation model happily. A large portion of non-core jobs are being outsourced to different regions of the world without fear of losing control and apprehension of deterioration in quality. Achrol and Kotler, (2012) expect that the companies will opt for forward outsourcing. In such a scenario, mass production at factory level will give way to small scale, cutomised production. The production will move close to the source of consumption and will lead to disintermediation. Some disintermediation has already been witnessed due to the popularity of the Internet. The World Wide Web has been instrumental in the growth of e-commerce not only in the developed world but also in the developing countries. The Internet has revolutionised communications. People living in different parts of the world are a part of an online community. They not only exchange their ideas and thoughts but also talk, positively or negatively, about the marketer’s brands. Behemoths like Amazon and eBay are dominant players in the e-commerce marketplace. Such etailers have changed the way consumers buy products. Their dominance has threatened the existence of brick and mortar stores for certain product categories. Likewise certain innovative products have shortened the product life cycle and annihilated other products which were, not so long ago, in their growth stage. Amazon’s Kindle and the iPad from Apple’s repertoire have put the print media on the backburner. It can safely be argued that whatever is a technical reality today is bound to become a commercial reality in the future. The emerging marketing paradigm will thus be the existence of products that can be delivered by electronic means as well as products that can be manufactured with the help of micro production systems. The latter will save costs due to efficient inventory and logistics management. References Achrol, R.S. & Kotler, P. (2012). "Frontiers of the marketing paradigm in the third millennium", Academy of Marketing Science.Journal, vol. 40, no. 1, pp. 35-52. Ang, L. (2011). “Community relationship management and social media”,  Journal of Database Marketing & Customer Strategy Management, 18(1), pp.31-38. Baker, R. 2010, “FMCG: Best minds in world help develop big ideas for P&G”, Marketing Week, pp. 6. Ballantyne, D. & Aitken, R. (2007). 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