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We investigate a dynamic model of network marketing in a small-world network structure artificially constructed similarly to the Watts-Strogatz network model. Different from the traditional marketing, consumers can also play the r...
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We investigate a dynamic model of network marketing in a small-world network structure artificially constructed similarly to the Watts-Strogatz network model. Different from the traditional marketing, consumers can also play the role of the manufacturer's selling agents in network marketing, which is stimulated by the referral fee the manufacturer offers. As the wiring probability alpha is increased from zero to unity, the network changes from the one-dimensional regular directed network to the star network where all but one player are connected to one consumer. The price p of the product and the referral fee r are used as free parameters to maximize the profit of the manufacturer. It is observed that at alpha = 0 the maximized profit is constant independent of the network size N while at alpha not equal 0, it increases linearly with N. This is in parallel to the small-world transition. It is also revealed that while the optimal value of p stays at an almost constant level in a broad range of a, that of r is sensitive to a change in the network structure. The consumer surplus is also studied and discussed. (c) 2005 Elsevier B.V. All rights reserved.
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In this paper, we study the evolution of the network topology for the global financial market. We evaluate the level of diversification and participation of developed and emerging economies in cross-border exposures and find that ...
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In this paper, we study the evolution of the network topology for the global financial market. We evaluate the level of diversification and participation of developed and emerging economies in cross-border exposures and find that the gross exposure network is dense, the vulnerability matrix is sparse, and the network's fragility changes over time. Prior to the financial crisis in 2008, the network was relatively fragile, whereas it became more resilient afterwards, showing a reduction in financial institutions' risk appetite. Our results suggest that financial regulators should track down the network evolution in their systemic risk assessment. (C) 2016 Elsevier Ltd. All rights reserved.
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Network marketing has been proposed and used as a way to spread the product information to consumers through social connections. We extend the previous game model of the network marketing on a small-world tree network and propose ...
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Network marketing has been proposed and used as a way to spread the product information to consumers through social connections. We extend the previous game model of the network marketing on a small-world tree network and propose two games: In the first model with the bounded rationality, each consumer makes purchase decision stochastically, while in the second model, consumers get only partial information due to the finite length of social connections. Via extensive numerical simulations, we find that as the rationality is enhanced not only the consumer surplus but also the firm's profit is increased. The implication of our results is also discussed.
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This paper takes an empirical starting point in a claim that Biacore, a pioneering Swedish producer of affinity biosensors, was "in the enviable position of creating its own market" (Abelin, 1997). An in-depth case study traces ho...
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This paper takes an empirical starting point in a claim that Biacore, a pioneering Swedish producer of affinity biosensors, was "in the enviable position of creating its own market" (Abelin, 1997). An in-depth case study traces how Biacore undertook segmentation activities while shaping the market for its new product technology, affinity biosensors. This involved stabilising the modes of exchange with customers, the product and the identity of the company. The efforts of Biacore highlight a constructive dimension of market segmentation that hitherto has received little attention. Rather than a process of describing, deciding and taking action, Biacore engaged in the gradual construction of market segments through an interactive and iterative process involving close collaboration with early users. Simultaneously, the market for the new technology gained shaped. Thus, the paper reports a 'markets from networks' story illustrating how the practice of segmenting a market may have consequences for that market.
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The Contemporary Marketing Practice (CMP) research tradition has formulated and investigated a set of different marketing practices or archetypes ranging from transactional to relationship and network approaches. We identify gaps ...
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The Contemporary Marketing Practice (CMP) research tradition has formulated and investigated a set of different marketing practices or archetypes ranging from transactional to relationship and network approaches. We identify gaps in previous research, and report on a case study in the house-building industry, which begins to fill these gaps. Specifically, we propose some amendments to the definition and detail of the marketing practices, arguing for example that e-marketing does not exist as a separate practice but rather that marketing practices are independent of the specific media and technology used at the customer interface. We also explore drivers and enabling factors of transitions between practices. Further case study research is called for in this domain.
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From the viewpoint of a monopolist who is selling a product in a market where peer communication matters, a social network of consumers is a valuable resource that can elevate a company's revenue if used effectively. In order to u...
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From the viewpoint of a monopolist who is selling a product in a market where peer communication matters, a social network of consumers is a valuable resource that can elevate a company's revenue if used effectively. In order to understand and realize the potential value within a social network, this paper focuses on measuring the link value in marketing-oriented scenarios and further adopting the measured value to propose profitable referral strategies. We measure the link value by considering how much a company's revenue changes when a new link is added. Moreover, different market scenarios are considered, including different degrees of price discrimination and different levels of information. More interestingly, we identify the relationship between the measured link value and the (weighted) Bonacich centrality in various market scenarios. Then, we design and propose profitable referral networks based on measured link value, which serves as a new perspective for designing a profitable referral mechanism. From numerical examples, several properties are summarized in order to determine how the measured link value is influenced by the interaction between market scenarios and network structures. Furthermore, a series of simulations have also been conducted to validate the effectiveness of the proposed referral networks as well as to provide insight into managerial practices. (c) 2020 Elsevier B.V. All rights reserved.
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Antitrust investigations typically focus on the competitive pressures coming from within the defined markets of interest. However, competitive pressures can also come from other markets. Even when individually these markets place ...
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Antitrust investigations typically focus on the competitive pressures coming from within the defined markets of interest. However, competitive pressures can also come from other markets. Even when individually these markets place only weak constraints on one another, collectively they may matter. A networks approach to modelling competition permits a systemic view of competition that can sometimes paint a more accurate picture. We demonstrate this through some simple examples, and show more generally how tools from the networks literature can be applied to capture competition across a system of interrelated markets. As a leading example, we consider antitrust investigations into supermarkets where local geographic markets have been used as the basis of investigation.
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This article discusses the diffusion process in an online social network given the individual connections between members. The authors model the adoption decision of individuals as a binary choice affected by three factors: (1) th...
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This article discusses the diffusion process in an online social network given the individual connections between members. The authors model the adoption decision of individuals as a binary choice affected by three factors: (1) the local network structure formed by already adopted neighbors, (2) the average characteristics of adopted neighbors (influencers), and (3) the characteristics of the potential adopters. Focusing on the first factor, the authors find two marked effects. First, an individual who is connected to many adopters has a greater adoption probability (degree effect). Second, the density of connections in a group of already adopted consumers has a strong positive effect on the adoption of individuals connected to this group (clustering effect). The article also records significant effects for influencer and adopter characteristics. For adopters, specifically, the authors find that position in the entire network and some demographic variables are good predictors of adoption. Similarly, in the case of already adopted individuals, average demographics and global network position can predict their influential power on their neighbors. An interesting counterintuitive finding is that the average influential power of individuals decreases with the total number of their contacts. These results have practical implications for viral marketing, a context in which a variety of technology platforms are increasingly considering leveraging their consumers' revealed connection patterns. The model performs particularly well in predicting the next set of adopters.
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Marketing strategies for successful non-wood forest product (NWFP) commercialization are important especially in those rural economies where NWFPs represent a considerable source of income for small and medium-scale forest-based e...
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Marketing strategies for successful non-wood forest product (NWFP) commercialization are important especially in those rural economies where NWFPs represent a considerable source of income for small and medium-scale forest-based enterprises. Two different organisational models in mushrooms marketing—a ‘traditional approach’ and a ‘net-system approach’—are compared through a case-study research approach. The first model is usually based on single large-scale enterprises producing large quantities of standardized, mass-market oriented products; its main commercial goal is the improvement of the value-chain from producer to end-users, with no special links or integration between the production area and the producers. The second, quite new approach is based on several integrated small and medium-scale rural-based enterprises supplying relatively limited quantities of high quality products, oriented to niche markets. In this case, product specialty identification, complementary actions, integration, and clustering among small and medium enterprises (SMEs) within the same production area are the most important goals. In the case studies, both organisational models have proved to be feasible and working with respect to the respective goals. Traditional large-scale enterprises, based on vertical integration and a short value chain, can achieve substantial economic performance; however, these are unlikely to have a significant positive impact on the socio-economic local context and are threatened by high business risk (mainly due to its strong specialization on a ‘climate-dependent’ NWFP). The analysed forest-based business model founded on networking, which involves not only forest-based SMEs but also other institutional, economic, and social actors, has proved to be not only economically viable and less risky with respect to the traditional model, but also more equitable in distribution of benefits, and effective in stimulating the local economy as a whole, integrated system based on NWFPs and related environmental services.
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This paper generates new insights into the market innovation process by merging literatures on higher-level learning and market shaping. The research shows that market learning expands the traditional organizational learning liter...
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This paper generates new insights into the market innovation process by merging literatures on higher-level learning and market shaping. The research shows that market learning expands the traditional organizational learning literature in three ways: it extends the unit of analysis from individual and organizational learning to inter-organizational learning; it implies a shift from adaptive to higher-level transformative learning; and it positions learning outcomes as changes in market-level properties rather than the mere cognitive developments of individual actors. A key contribution to the understanding of market learning is the development of a market-learning cycle framework that delineates the market-learning process into distinct phases. The framework structures the field in which focal actors with market driving strategies operate as they proactively engage other market actors during the different phases of the market-learning cycle. The usefulness of the framework is illustrated by a longitudinal case.
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