Antyptseva Olena, PhD in Economics, Associate Professor at the Department of Management, Ukrainian Engineering and Pedagogical Academy, Kharkiv, Ukraine
Gusarov Oleksandr, PhD in Technical, Associate Professor, Associate Professor at the Department of Management, Ukrainian Engineering and Pedagogical Academy, Kharkiv, Ukraine
ORCID ID: 0000-0001-7835-1124
Obydiennova Tetiana, PhD in Economics, Associate Professor at the Department of Management, Ukrainian Engineering and Pedagogical Academy, Kharkiv, Ukraine
Attracting Consumers to Create Competitive Market Supply in the Context of a Customer-Oriented Approach
Abstract. Introduction. The study of the phenomenon of attracting consumers to create a competitive market offer is dictated by the business need to look for new ways of production and provide the consumer with personalized value while ensuring economic efficiency to the business entity and the need to solve the problem of laying out new market territories and their content, is becoming one of the most urgent tasks for domestic enterprises, who are trying to survive and achieve prosperity in the face of increasing globalization of trends in the growing international competition.
Purpose. The purpose of the article is to systematize the practical experience of modern enterprises in integrating consumers into the process of creating a valuable market offer and summarizing existing points of view regarding the interpretation of the category “consumer engagement” to clarify the essence and content of this concept from a customer-oriented approach.
Results. The authors have established the basic prerequisites for transforming consumers into active participants in the process of creating a competitive market supply together with the manufacturer and outlined the benefits that enterprises receive from such a partnership. Directions were established and specific examples of consumer involvement by business structures to determine the content of the new product offer of the customization process, promotion of new products on the market, formation of technologies and progressive standards of their consumption were considered. The advantages of virtual integration of consumers in the process of creating a new proposal are demonstrated. A comparative analysis of theoretical approaches to the interpretation of the definition of “consumer engagement” has been identified and carried out and the author’s definition of this concept has been proposed, which allows us to comprehensively characterize the phenomenon under investigation as a process initiated and managed by the manufacturer to rationally and effectively incorporate the potential of consumers in joint activities at all stages to create a valuable customer-oriented proposal while ensuring parity of interests of the interacting parties.
Conclusions. It is proved that a manufacturer cannot limit itself only to fixing and understanding the intentions of interested consumers in cooperation, he must deliberately and on a strategic basis manage the inclusion of consumer potential in the enterprise’s business processes at each stage of creating a valuable market offer, provide the customer with specially designed tools and to ensure both the realization of a complex of diverse interests of customers-partners, and a system of own business interests.
Keywords: attraction marketing; open innovation; personalized value; virtual consumer integration; parity of interests; customer satisfaction and loyalty.
- Prahalad, C. & Ramaswamy, V. (2003). The new frontier of experience innovation. MIT Sloan Management Review, 44(4), 12–18.
- Vargo, S. & Lusch, R. (2010). Service-dominant logic: Сontinuing the evolution. Journal of the Academy of Marketing Science, 36, 1–10.
- Thomke, S. & Von Hippel, E. (2003). Customers as innovators: A new way to create value. Harvard Business Review, 80(4), 74–81.
- Mollen, A. & Wilson, H. (2010). Engagement, telepresence, and interactivity in online consumer experience: Reconciling scholastic and managerial perspectives. Journal of Business Research, 63(9/10), 919–925.
- Shaukat, M., Huma A., & Ibraheem T. (2017). Consequences of relationship marketing on customer loyalty. International Journal of Research, 5(2), 180–190. doi: http://doi.org/10.5281/zenodo.345637.
- Fedulova, L. I. (2014). Innovatsii, initsijovani spozhyvachamy: mozhlyvosti zaluchennia torhovel’nykh merezh. Visnyk Natsional’noho universytetu Yurydychna akademiia Ukrainy imeni Yaroslava Mudroho. Seriia: Ekonomichna teoriia ta pravo, 2 (17), 46–64 [in Ukrainian].
- Chesbrough, H. (2003). The era of open innovation. MIT Sloan Management Review, 44(3), 35–41.
- Israel, S. (2012). Dell Modemizes IdeaStorm. Retrieved from https://www.forbes.com/sites/shelisrael/2012/03/27/dell-modernizes-deastorm/#76585628405a
- Hollensen, S. (2017). Global marketing (7th ed). London: Pearson Education.
- Schreier, M. & Pruegl R. (2008). Extending lead-user theory: Antecedents and consequences of consumers’ lead userness. Journal of Product Innovation Management, 25, 331–346.
- Brodie, R., Hollebeek, L. & Smith, S. (2012). Engagement: An important bridging concept for the emerging S-D logic lexicon. Retrieved from https://www.researchgate.net/publication/267989386_Engagement_An_important_bridging_concept_for_the_emerging_S D_logic_lexicon
- Hollebeek, L. D. (2011). Demystifying сustomer еngagement: Exploring the loyalty nexus. Journal of Marketing Management, 27, 785–807.
- Higgins, E. & Scholer, A. (2009). Engaging the consumer: The science and art of the value creation рrocess. Journal of Consumer Psychology, 19(2), 100–114.
Received: 07 February 2019
How to quote this article?
|Antyptseva, O., Gusarov, O. & Obydiennova, T. (2019). Attracting Consumers to Create Competitive Market Supply in the Context of a Customer-Oriented Approach. Modern Economics, 13(2019), 7-12. DOI: https://doi.org/10.31521/modecon.V13(2019)-01.|