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Unformatted text preview: Marketing of the 21st Century Marketing Science Institute Research priorities 2016-2020 through the lens of the future marketer Student Essays from the Master Advanced Topics in Digital Marketing Class September 2016, University of Twente (NL) Volume 1 Editors Efthymios Constantinides PhD Sjoerd de Vries PhD Faculty of Behavioral, Management & Social Sciences University of Twente The Netherlands January 2017 Developing Digital Marketing Strategies for the Future Principles and Foundations In the very first edition of Kotler’s benchmark Marketing Management textbook from 1967 the Marketing Management was described as “…the study of how business can best adapt resources and objectives to outside opportunities”. Almost 50 years later while the tenets of this definition remained basically unchanged, the business resources, objectives and outside opportunities have little in common with those of the 60s: political, socio-demographic, economic, environmental but mainly technological developments around Information and Communication (ICT) have drastically transformed the marketing practice, the businesses and the consumers. The emergence of the commercial Internet about 25 years ago marked the beginning of substantial changes in the Marketing Management practice but also in consumer behavior. Technology became the main disrupting factor not only because it provided new tools and ways to address various problems but mainly because it became ubiquitous and available not only to marketers abut also to customers. The first wave of the commercial Internet in the 90s, also known as Web 1.0 or “broadcasting” Internet, gave to customers a number of unique advantages and empowerment: almost unlimited information and access to may alternative options on global scale. The second wave of the Internet at the beginning of the 21st century, also known as Web 2.0 or “interactive” Internet, gave customers new and unlimited and ubiquitous connectivity options through social networking and mobile computing; next to this the development of a new generation of applications gave consumers access to new forms of information and new forms of interactions and transactions. The most interesting result of the technology explosion and easy access to it by consumers is the disruption of the market and the marketing practice. The customer today is an empowered customer, and in control of the interactive online media, content and communication process. The power of the traditional marketing tools and communication is diminishing and the customer has little trust to the corporate message and brand. Technology is changing the context of and practice of marketing: marketers are increasingly forced to operate in a complex and changing world where they do not have any more the full control of the media and the message. Customer behavior is also changing: the customer is losing trust and becomes much more critical, smart, well informed and proactive than ever before. The online/ digital marketing domain is growing rapidly at the cost of the traditional marketing domain and the fast increasing volume of data from customer interactions, transactions and online social activity presents marketers with new challenges. New knowledge, new skills and new approaches are required by today and future marketers not only for understanding the changing and technology-enabled marketing environment but also for comprehending and communicating with the new customer. The Marketing becomes increasingly digital and continuous technological developments present marketers with new challenges and opportunities: Mobile marketing, Internet of Things, Analytics, Big Data, 3D printing, cloud computing, Artificial Intelligence, Consumer Neuroscience / Neuromarketing are some of the most interesting and Marketing of the 21st Century University of Twente 2 challenging domains where the future marketer are expected to must be able to function and deliver. On academic level there is a growing interest in many of these new areas and domains. Yet academic research and teaching are not always in the forefront of developments, mainly in such complex and fast changing conditions. The need for a new generation of marketers is growing and institutions like the MSI are playing an important role in setting the future research and educational agenda. In the University of Twente we have set a course of becoming a leading educational and research hub for the digital marketer of the future. In that respect we develop challenging and engaging programs for our students trying to bring them in touch with the state of the art in research and practice. This volume is a reflection of this effort presenting essays written by our Master students following the elective course Advanced Topics in Digital Marketing during the academic year 2016-2017. As part of the course program students were free to choose a topic for their individual essay, selecting a theme from the topics of the MSI Research Priorities 2016 – 2018 1. The essays had to be written in a short period of time (six weeks); the methodology used was that of a critical literature review. The topics chosen reflect the areas where our students as future marketers would like to focus their attention and for many of them this exercise was a warming up for choosing a topic for their Master thesis. Four out of the five MSI research priority categories have been addressed in this volume; most popular topic the theme is nr. 2 “Delivering integrated, real time, relevant experiences in context” with fifteen essays followed by theme nr. 3 “Making sense of changing decision process(es)” with thirteen essays and nr. 4 “New Data, new Methods, and new skills – how to bring it all together” with twelve essays. Presenting you this first volume of the essays from the class of September 2016 we are proud of the work of our students. The essays have undergone a minimum of editorial intervention and therefore present the original opinions and findings of the authors; in this sense they should not been considered as mature scientific publications but rather as state-of-the-art literature review studies on research and practice in a number of issues that will shape the future of the Marketing field, from the perspective of the future marketer. Such work is essential in developing Marketing strategies and tactics and understanding the changes in the field while providing several topics that could become the basis for education and future research projects. Efthymios Constantinides PhD, Assistant Professor Digital Marketing Department of Entrepreneurship, Strategy, innovation, International Management and Marketing Sjoerd de Vries PhD, Assistant Professor Marketing Communications Department of Communication Science Faculty of Behavioral, Management & Social Sciences University of Twente The Netherlands February 2017 1 MSI Research Priorities 2016 – 2018 Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted, provided that copies are not made or distributed for profit or commercial advantage and that copies bear the full citation of this volume. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission from the editors. Copyright 2017, University of Twente, Faculty of Behavioral, Management and Social sciences. 3 INDEX Topic 1: Quantitative models to understand causality, levers, and influence in a complex world Page 6 1. Big Data Quality: Issues with Reliability and Validity, Ate Otten Pages 7-13 Topic 2: Delivering integrated, real-time, relevant experiences in context Page 14 1. Brand and product awareness in a post-TV advertising world, Bo Verhoef Pages 15-20 2. Importance of customer experience and online decision making, Bram Bolscher Pages 21-29 3. Brand awareness in a digital society: A literature review on the challenges and future directions for generating brand awareness, Carmen Ziel Pages 30 -37 4. From Interruption to Interaction: Inspiration as a New Marketing Discipline?, Ellen Nathues Pages 38-48 5. What are the opportunities of implementing marketing strategies on social media to reach consumers and to increase brand awareness?, Inga Adels Pages 49-54 6. To what extend can neuromarketing influence the control of consumer information? Jelle Krooshof Pages 50-59 7. New Marketing: Brand Awareness and the Cool Kids, Kristin Loos Pages 60-68 8. Understanding the Customer in the Decision-making Process: Building up Loyalty through Interaction, Engagement and Adaption, Laurian Essenstam Pages 69-74 Literature review based on the usability of personalized content in improving e-satisfaction, Lender 9. Rotshuizen Pages 75-82 10. Marketing to Gen Y and Gen Z: Insights on consumer behavior and loyalty, Marie-Theres Riegler Pages 83-91 11. Brand Awareness 2.0: Does customized content replace TV-Advertisements as main driver for brand awareness in the digital age?, Mery-Jo Kersten Pages 92-99 12. Privacy concern and the efficacy digital channels - when too much consumer data scares off the consumer in the age of Big Data, Paulina Gueorguieva Pages 100-112 13. The fine line between privacy and promotion: Critical literature review discussing the relation between digital marketing and privacy threats, R.H.M. Berendsen Pages 113-119 14. Decision-Making Process, Alina Stankevich Pages 120-128 15. Saving the High Street: How retailers can successfully integrate channels to offer consumers a seamless experience throughout the customer journey, Kirsten van Beuzekom Pages 129-136 Marketing of the 21st Century University of Twente 4 Topic 3: Making sense of changing decision process(es) 1. Privacy versus personalization in the “Big Brother is watching you” era, Dewi Moester Page 137 Pages 138-145 2. The Trade-Off between Consumer Privacy and Web Based Advertisement: a Descriptive Model, Elke Rödel P 146-151 3. Using Affect to Affect: The use of emotions in creating digital tourism experience to increase social media sharing, Hanna Krisviana Pages 152-161 4. The personalization-privacy trade-off: how will it change in the future?, Jelmer Pepping Pages 162-166 5. Digital Distraction: A Case Study, Joost de Graaf Pages 176-172 6. Balancing between the use and collection of data and privacy of the people: new technologies and old laws, Jorieke Heerink Pages 173-180 7. Methods of assessing emotions in user experience, Manoux Klaassen Pages 181-186 8. Two Sides of a Coin: The Benefits of Personalized Marketing versus the Downsides of Privacy Concerns, Nikki Knippers Pages 187-195 9. How does Engaging in Technology change Consumers? The Influence on Emotions, Decision Making, and Behavior, Niklas Weber Pages 196-204 10. The trade-off between privacy concerns and the benefits of personalization, S. den Braber Pages 205-215 11. The Influence of Wearable Devices on Purchase Uncertainty Reduction in the Consumer Decision Making Process, Teun Koldeweij Pages 216-223 12. The implications of the digital revolution on the young generations and future digital marketing, Marlin Bloemberg Pages 224-230 13. A changing decision making process: understanding the influence of culture, generational- and life stage differences, Tolga Tekbasan Pages 231-235 Marketing of the 21st Century University of Twente 5 Topic 4: New data, new methods, and new skills — how to bring it all together? Page 236 1. Social Media and User Addiction: Facts and Possible Solutions, Christine Anna Marie Lohmann Pages 237-253 2. Cognitive computing: Using cognitive systems to gain value out of big data, Antoine Biemans Pages 254-260 3. How can firms use big data analytics (BDA) to make better decisions in the future, and what are their challenges?, Bram Roeleveld Pages 261-268 4. At the junction between Marketing and Neuroscience: combine or part?, C-m. L. Klaus Pages 269-275 5. Influence of Social Media use on individuals’ stress and efficiency, Hanna Dinkelbach Pages 276-280 6. Big Data – Being data rich, but insight poor? Opportunities and challenges of Big Data, Mario Patrick Schwery Pages 281-288 7. ‘The Dark Side of Social Media’: What is the addiction to Social Media and how does Social Media on smart phones and the Fear of Missing Out influence the addiction to Social Media? Mieke Martens Pages 289 -297 8. The Dark Side of Social Media A study of Cyber Violence: An Asian Perspective, Qunying Liu Pages 298-307 9. The Future of Cognitive Computing in Marketing Areas, Stefano M. Di Matola Pages 308-311 10. New approaches and sources of data – what are the roles of neuroscience, artificial intelligence, cognitive computing, machine learning? Tabea Sippel Pages 312-319 11. The Role of Social Media Choice and Use on Online Engagement: Nonprofit and Non-governmental Profiles, Vanessa Vieira dos Santos Page 320-307 12 .The role of EEG as a source of customers’ neural information for Neuromarketing, Ferhat Celik Pages 308-330 Marketing of the 21st Century University of Twente 6 Topic 1 Quantitative models to understand causality, levers, and influence in a complex world Marketing of the 21st Century University of Twente 7 Big Data Quality: Issues with Reliability and Validity Ate Otten University of Twente P.O. Box 217, 7500AE Enschede The Netherlands Email: [email protected] ABSTRACT The goal of this study was to critically review the current state-of-the-art literate concerning big data quality, reliability, and validity, and to discover the current trends and gaps in the research current being done on these subjects. A total of 20 articles were reviewed. Two main themes emerged, quality assessment and error checking, and quality improvement, with topics varying from universal data quality assessment systems to algorithms for error detection and data cleansing, some of which are very specific, due to the variety and veracity characteristics of big data. Universal data quality improvement are developed, which can be equipped with diverse algorithms based on the user’s needs. There is much attention to combining efficiency with effectiveness, with resource consumption in mind. A standard for big data quality is missing and should be developed. Furthermore, limited attention is given to the combination of computational and human methods to improve data quality. Keywords big data, cleansing, filtering, reliability, quality, validity, error MSI Topic nr.1: Quantitative models to understand causality, levers, and influence in a complex world The author’s view: Why this topic? Today’s capability of data generation is extraordinary and big data is everywhere. However, not all data is necessarily ‘true’ and this fact is sometimes forgotten. Before any knowledge can be derived from big data, it is imperative that one pays attention to its quality and checks for possible errors. Marketing of the 21st Century University of Twente 8 1. INTRODUCTION One of the hot topics in today’s marketing and ICT world is ‘Big Data’. According to IBM 2.5 quintillion bytes, or 2.5 exabytes, of data is created every day (IBM, n.d.). McAfee and Brynjolfsson (2012) report the same amounts of data being created every day, and claim that number is doubling every 40 months or so, since 2012. To put the amount of data into perspective, a petabyte is equivalent to about 20 million filing cabinets’ worth of text, and an exabyte is 1.000 times bigger. As a result of these enormous amounts of data creation, IBM (n.d.) reported that 90% of the data in the world today is created in the last two years, with sources ranging from sensors for climate information to social media, and online purchasing records. In an interview with CNBC (2012), Ann Winblad, investor in Silicon Valley, outlines the potential value of big data, as she says that “data is the new oil.” All this data available for business analysts and researchers to use seems like a utopia, however, Regalado (2013) states that 99.5% of newly created digital data never gets analysed. One of the reasons for this mind-blowing number could be explained by some of the problems with big data. Curzzocrea, Song, and Davis (2011) created an overview of some of the problems of analysing big data; data source heterogeneity and incongruence, strongly unstructured nature of data source, scalability, and filtering-out uncorrelated data to name a few. Wu, Zhu, Wu, and Ding (2014) introduce the HACE theorem, stating that “Big Data starts with large-volume, heterogeneous, autonomous sources with distributed de decentralized control, and seeks to explore complex and evolving relationships among data.” and as a result, it is extremely difficult to discover useful information from big data. An example to illustrate the problems with big data is Google Flu Trends, which overestimated flu prevalence and predictions of doctor visits for influenza-like illness, and on the other hand, missed several flue seasons (Lazer, Kennedy, & Vespignani, 2014). To improve the analytics performed on big data, it is necessary to sift through the data and keep only the information that is useful (Curzzocrea et al., 2011; Katal, Wazid, & Goudar, 2013). This is the motivation of choosing big data cleansing as a subject for this paper, as the quality of both academic research and business analytics can be significantly higher, by making sure only relevant data is used and all other extraneous data eliminated. The importance of big data cleansing is also outlined by MSI (2016), which presents big data cleansing as a research priority topic, and thus additional research is required. Fan and Bifet (2013) also underline the importance of additional research on big data cleansing, as this will help dealing with the challenges of compression and hidden big data. Furthermore, Fan, Han, and Liu (2014) talk about the noisy data challenge, where big data has a lot of noise (i.e. measurement errors, outliers, and missing values), and the importance of separating the noise from the useful data. But how can one make the distinction between relevant and irrelevant data (noise) in an effective and efficient way? Or, differently put, how does one tackle the validity and reliability issues that come with big data? In order to address these issues, this paper will critically review the current state-of-the-art literature about big data cleansing, reliability and validity, and quality, and will present and summarize the various opinions, findings, and conclusions that are found. In order to do so, a research problem and question must be formulated. The research problem is: “big data contains significant reliability and validity issues, reducing the quality of useful knowledge obtained from big data”. With this research problem, a research question can be designed to provide an answer to solve this problem: “What methods are currently available for improving the reliability and validity in big data?” The conclusions of this paper will help future researchers by providing an overview of the current methods and relating conclusions regarding big data cleansing, and help them identify areas that need additional research, supported by the suggestions for future research made in this paper. The practical impact of this paper is that it provides an overview for relevant business analysts to see what the current state-of-art knowledge is about big data cleansing and perhaps apply gained insights onto their situation. 2. METHODOLOGY 2.1 Design Since this paper will be a critical literature review, the methodology is partially based on Jesson and Lacey (2006).The goal of this paper was to create an overview of the current stateof-the-art literature on big data reliability and validity. Normally, the quality of the found articles will be checked based on several factors, including number of citations, impact factor, journal reputation, and publication date. However, since the goal was to find state-of-the-art literature, the criteria is based on publication date and ...
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