Skip to main content
SpringerLink
Log in

Consumer Marketplace

  • Chapter
Architecting Enterprise

  • 321 Accesses

Abstract

The overall success of broader innovation and technology in the marketplace is determined not just by industry-wide growth in technology adaptation, but also by the development of rich standards that allow for the highly innovative bundling of consumer-oriented products and services. More importantly firms will be differentiated by their ability to employ a powerful innovation interface that comprehensively supports and extends a customer-controlled innovation process in a firm. Building from the concepts of the intelligence quotient and emotional intelligence, the author postulates that effective technology application leading to consumer-centric innovations today requires high levels of cultural integration and intelligence. The chapter discusses the fundamentals of convergence of innovation and technology use with consumer perceptions and conflicts, and delineates concepts on management challenges, including decision-making, negotiations and conflict resolution, and leadership and motivation. This chapter also addresses the determinants of consumer orientation, developing customercentric marketing strategies, value-seeking consumers, customer life-time value, acquiring and retaining customers, behavioral agility, and relational values.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 39.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 54.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 54.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Baker, T. L. Jr, Cronin, J. J., and Hopkins, C. D. (2009), The impact of involvement on key service relationships, Journal of Services Marketing, 23(2), 114–123.

    Article  Google Scholar 

  • Berman, B. and Thelen, S. (2004), A guide to developing and managing a well-integrated multi-channel retail strategy, International Journal of Retail & Distribution Management, 32(3), 147–156.

    Article  Google Scholar 

  • Bickle, M., Buccine, R., Makela, C, and Mallette Dawn (2006), Consumers’ uniqueness in home décor: Retail channel choice behaviour, The International Review of Retail, Distribution and Consumer Research, 16(3), 317–331.

    Article  Google Scholar 

  • Billington, J. (1996), Five Keys to Keeping Your Best Customers, Harvard Business Publishing Newsletters, July, 01.

    Google Scholar 

  • Bruhn, M. (2003), Relationship Marketing Management of Customer Relationships, Pearson, Harlow.

    Google Scholar 

  • Choudhury K. (2007), Service quality dimensionality: A study of the Indian banking sector, Journal of Asia-Pacific Business, 8(4), 21–38.

    Article  Google Scholar 

  • Crittenden, V. L. and Wilson, E. J. (2002), Success factors in non-store retailing: Exploring the Great Merchants Framework, Journal of Strategic Marketing, 10(4), 255–272.

    Article  Google Scholar 

  • Day, G. S. (1994), The capabilities of market driven organizations, Journal of Marketing, 58(4), 37–52.

    Article  Google Scholar 

  • Donkers, B., Verhoef, P. C., and de Jong, M. (2003), Predicting Customer Lifetime Value in Multi-service Industries, ERIM Report Series, April (Ref ETS-2003-038-MKT).

    Google Scholar 

  • Ganesh, J. (2004), Managing customer preferences in a multi-channel environment using Web services, International Journal of Retail & Distribution Management, 32(3), 140–146.

    Article  Google Scholar 

  • Goldstein, D. G., Johnson, E. J., Herrmann, A., and Heitmann, M. (2008), Nudge your customers towards better choices, Harvard Business Review, 86(12), 99–105.

    Google Scholar 

  • Gulati, R. (2007), Silo busting: How to execute on the promise of customer focus, Harvard Business Review, 85(5), 98–108.

    Google Scholar 

  • Hallowell, R. (1996), The relationships of customer satisfaction, customer loyalty, and profitability: An empirical study, International Journal of Service Industry Management, 7 (4), 27–42.

    Google Scholar 

  • Heskett, J. L. Jones, T. O., Loveman, G. W., Sasser, W. E.Jr., and Schlesinger, L. A. (1994), Putting the service-profit chain to work, Harvard Business Review, 72(3), 164–174.

    Google Scholar 

  • Hufen, B. (2007), Customer segmentation: The concepts of trust, commitment and relationship, Journal of Targeting, Measurement and Analysis for Marketing, 15(4), 256–269.

    Article  Google Scholar 

  • Jindal, R. P., Reinartz, W., Krafft, M., and Hoyer, W. D. (2007), Determinants of the variety of routes to market, International Journal of Research in Marketing, 24(1), 17–29.

    Article  Google Scholar 

  • Lee, H. H. and Kim, J. (2008), The effects of shopping orientations on consumers’ satisfaction with product search and purchases in a multi-channel environment, Journal of Fashion Marketing and Management, 12(2), 193–216.

    Article  Google Scholar 

  • Locke, C. (2000), Smart customers, dumb companies, Harvard Business Review, 78(6), 187–191.

    Google Scholar 

  • Lundquist, D. and Bhattacharya, S. (2008), Finding seller quality and quality sellers in online markets: An agent-based analysis, International Journal of Electronic Business, 6(1), 47–66.

    Article  Google Scholar 

  • Marjolein, C. and Verspagen, B. (1999), Spatial Distance in a Technology Gap Model, Maastricht Economic Research Institute on Innovation and Technology (MERIT), Working Paper No. 021.

    Google Scholar 

  • Mcgoldrick, P. J. and Collins, N. (2007), Multichannel retailing: Profiling the multichannel shopper, The International Review of Retail, Distribution and Consumer Research, 17(2), 139–158.

    Article  Google Scholar 

  • Nicholson, M., Clarke, I., and Blakemore, M. (2002), One brand, three ways to shop: Situational variables and multichannel consumer behavior, The International Review of Retail, Distribution and Consumer Research, 12(2), 131–148.

    Article  Google Scholar 

  • Oakley, P. (1996), High tech NPD success through faster overseas launch, European Journal of Marketing, 30(8), 75–91.

    Article  Google Scholar 

  • Orit, G., Philip, L., and Till, V. (2007), Battle in China’s good-enough market, Harvard Business Review, 85(9), 80–89.

    Google Scholar 

  • Payne, A. and Frow, P. (2005), Strategic framework for customer relationship management, Journal of Marketing, 69(4), 167–176.

    Article  Google Scholar 

  • Pine II, B. J., Peppers, D., and Rogers, M. (1995), Do you want to keep your customers forever? Harvard Business Review, 73(2), 103–114.

    Google Scholar 

  • Rajagopal (2008), Point of sales promotions and buying stimulation in retail stores, Journal of Database Marketing and Customer Strategy Management, 15(4), 249–266.

    Article  Google Scholar 

  • Rajagopal (2010), Bridging sales and services quality functions in retailing of high technology consumer products, International Journal of Services and Operational Management, 6(5), 177–199.

    Google Scholar 

  • Rajagopal and Rajagopal, A. (2009), Buyer-supplier relationship and operations dynamics, The Journal of Operations Research Society, 60(3), 313–320.

    Article  Google Scholar 

  • Rust, R. T., Zeithaml, V. A., and Lemon, K. N. (2004), Customer centered brand management, Harvard Business Review, 82(9), 110–118.

    Google Scholar 

  • Samiee, S. (2008), Global marketing effectiveness via alliances and electronic commerce in business-to-business markets, Industrial Marketing Management, 37(1), 3–8.

    Article  Google Scholar 

  • Seiden, L. and MacMillan, I. C. (2006), Manage customer-centric innovation systematically, Harvard Business Review, 84(4), 108–116.

    Google Scholar 

  • Sharma, A. and Seth, J. N. (1997), Relationship marketing: An agenda for inquiry, Industrial Marketing Management, 26(2), 87–89.

    Article  Google Scholar 

  • Slater, S. and Narver, J. (1995), Market orientation and the learning organization, Journal of Marketing, 59(3), 63–74.

    Article  Google Scholar 

  • Smith, W., van Bruggen, G. H., and Wierenga, B. (2002), Building Stronger Channel Relationship though Information Sharing, Discussion Paper, 235, Erasmus Research Institute of Management, 1–62.

    Google Scholar 

  • Spagat, E. (2004), Sony makes big changes with small stores, Marketing News, November 15, 12.

    Google Scholar 

  • Urban, G. L. (2004), Emerging era of customer advocacy, Sloan Management Review, 45(2), 77–82.

    Google Scholar 

  • Villanueva, J., Bharadwaj, P., Chen, Y., and Balasubramanian, S. (2004), Managing Customer Relationships-Should Managers Really Focus on Long Term, IESE Business School, Working Paper # D/560, May, pp. 1–37.

    Google Scholar 

  • Vrontis, D. and Thrassou, A. (2007), A new conceptual framework for business-consumer relationships, Marketing Intelligence & Planning, 25(7), 789–806.

    Article  Google Scholar 

  • Wallace, David W., Giese, Joan L., and Johnson, Jean L. (2004), Customer retailer loyalty in the context of multiple channel strategies, Journal of Retailing, 80(4), 249–263.

    Article  Google Scholar 

  • Zimmerman, R M. (1989), Managing a successful turnaround, Long Range Planning, 22(3), 105–124.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

  1. EGADE Business School, Mexico

    Rajagopal

Authors
  1. Rajagopal
    View author publications

    You can also search for this author in PubMed Google Scholar

Copyright information

© 2014 Rajagopal

About this chapter

Cite this chapter

Rajagopal (2014). Consumer Marketplace. In: Architecting Enterprise. Palgrave Macmillan, London. https://doi.org/10.1057/9781137366788_10

Download citation

Publish with us

Policies and ethics

Search

Navigation