Generative AI for Marketing Content Creation: New Rules for an Old Game

Metaverse Marketing

<abstract>
<title style='display:none'>Abstract</title>
To remain competitive in a connected world, offline retailers have responded with integrating digital in-store technologies into their physical servicescapes. Often, the introduction of multichannel connecting services like click &amp; collect or order from or return to store are first steps.
Shopper-facing advanced technologies can be key to creating a different physical shopping experience for consumers and delivering benefits to retailers such as improved traffic, conversion and baskets or streamlined operational cost. In general, consumers consider retailing technologies as useful. However, shoppers assess the fairness of the exchange about procedures, outcome and treatment and the value of the technology they receive compared to what the retailer gets. Also, satisfaction, trust and privacy concerns are relevant for customers. Retail managers need to ensure the functionality and safety of their application and take consumer concerns seriously. Also, they need to address privacy concerns and build trust, if they want proximity marketing to deliver on its promise of increasing basket size or attracting new shoppers.
</abstract>

E-Commerce in a Physical Store: Which Retailing Technologies Add Real Value?

<abstract>
<title style='display:none'>Abstract</title>
Big data are taking center stage for decision-making in many retail organizations. Customer data on attitudes and behavior across channels, touchpoints, devices and platforms are often readily available and constantly recorded. These data are integrated from multiple sources and stored or warehoused, often in a cloud-based environment. Statistical, econometric and data science models are developed for enabling appropriate decisions. Computer algorithms and programs are created for these models. Machine learning based models, are particularly useful for learning from the data and making predictive decisions. These machine learning models form the backbone for the generation and development of AI-assisted decisions. In many cases, such decisions are automated using systems such as chatbots and robots.
Of special interest are issues such as omnichannel shopping behavior, resource allocation across channels, the effects of the mobile channel and mobile apps on shopper behavior, dynamic pricing, data privacy and security. Research on these issues reveals several interesting insights on which retailers can build. To fully leverage big data in today’s retailing environment, CRM strategies must be location specific, time specific and channel specific in addition to being customer specific.
</abstract>

Big Data and Analytics in Retailing

Brand Activism Is Here to Stay: Here’s Why

<abstract>
<title style='display:none'>Abstract</title>
Digital transformation is taking place all around us and there is hardly a single aspect of life that has not been affected. It has an obvious, lasting, and even revolutionary impact, not only on the economic systems and commercial players, but also on the lives of individuals and on society at large. Digital transformation will bring greater tangible and intangible value, but the changes do come with certain costs and risks, sometimes unforeseen. 
In terms of business strategy, digital technology has been transforming businesses dramatically. Even young companies that have been at the forefront of digital disruption are forced to reinvent and transform themselves and their businesses permanently in order to survive and thrive. If incumbents themselves don’t take advantage of this digital progress to innovate, others will. A new wave of digital disruptors is changing the face of industries. The ability to innovate is thus more important than ever. Entire industries may be threatened if they do not react quickly, while others are emerging almost instantly as if out of nowhere. Handling speed and providing real-time solutions is therefore one of the most critical skills in a digital world.

</abstract>

Digital Transformation and Value Creation: Sea Change Ahead

<abstract>
<title style='display:none'>Abstract</title>
Hunting for “stars”, the icons of the reputation economy, is a prerequisite for survival in e-commerce in general and on sharing platforms in particular. The key to understanding the rise of reputation is trust, and the ability of a platform to provide this trust has become crucial in the past decade. Social media managers are now key players in marketing departments. One of their most important jobs is the careful curation of digital reputations. Marketers need to engage in diverse forms of reputation management and master several challenges in designing the right systems and utilizing reputation information in optimal ways. Engendering trust is more complex than gaining star ratings or positive reviews on owned or third-party platforms. How platforms are designed – in terms of how people can make bookings or orders and how users rate each other – is the key issue. It needs to be managed in a sophisticated way, especially in an era when topics such as racial and ethnic justice are key societal concerns.
</abstract>

Playing the Trust Game Successfully in the Reputation Economy

<abstract>
<title style='display:none'>Abstract</title>
Our relationship to technology is deeply paradoxical. On the one hand, we buy and constantly use more devices and apps, leaving our traces in the digital space. On the other hand, we increasingly fear the dark sides of being dependent on technology and of data abuse. Inadequate knowledge and errors make it difficult to predict unintended consequences, and often problems emerge due to deliberate choices to pursue some interests while ignoring others. Hot topics include data privacy, potentially biased or discriminating algorithms, the tension between free choice and manipulation, and the optimization of questionable outputs while ignoring broader effects.
Fighting unintended consequences should get to the roots of the problems. As for personal data, users should get more control over what they share. Further, more transparency can help avoid dystopian outcomes. It concerns the use of data, in particular, by algorithms. The high concentration of power of a few global players should also be watched closely, and societies need to be critical towards their actions and objectives. Even seemingly noble motives come at a price, and this price needs to be negotiable.
</abstract>

Illuminating the Dark: Exploring the Unintended Consequences of Digital Marketing

Sustainable Consumption: More Using, Less Shopping

<abstract>
<title style='display:none'>Abstract</title>
Many businesses have turned to ESG reporting to satisfy the informational needs of their external and internal stakeholders. ESG stands for environmental, social and governance metrics – both qualitative and quantitative – to highlight how well or poorly a firm is doing in terms of long-run sustainability. Investors and governments as well as customers and employees are becoming more and more concerned with ESG issues. ESG dashboard metrics serve as a means of accountability for all parties concerned and contribute to ensuring that the business adheres to its ESG commitments. Companies should use a purpose-driven approach with strong commitment from management and use cross-functional teams from areas including supply chain, technology and infrastructure to formulate a plan to integrate ESG metrics for reporting and identify gaps and deficiencies in current practices.
</abstract>

The What, Why and How of ESG Dashboards

<abstract><title style='display:none'>Abstract</title>
Virtual commerce has the potential to transform the shopping experience. It is highly interactive and can create immersive experiences when consumers wear head-mounted displays. Benefits include increased telepresence, better size and proportion judgement, customizable shopping environments, highly personalized decision support and social interaction opportunities. Technological advances in VR hardware, such as improved display resolution and reduced motion sickness, contribute to a more seamless and enjoyable shopping experience. These benefits can lead to higher purchase rates. However, there are also privacy concerns due to the many ways in which data can be collected. While the future of VR shopping is difficult to predict, AR applications are already well established. Tech giants, research institutions, and startups will play a critical role in shaping the future of virtual commerce.
</abstract>

From E-Commerce to Virtual Commerce: The Exciting Opportunities of Virtual Shopping

Beyond the Buzz: Creating Marketing Value with Generative AI

Double Impact: Harnessing Generative and Evaluative AIs for Effective Marketing Decisions

Beyond Prompt Engineering: Skills Marketers Need to Deploy Generative AI Successfully

Moving Beyond ChatGPT: Applying Large Language Models in Marketing Contexts

Editorial

<abstract>
<title style='display:none'>Abstract</title>
It is not only products or services that are becoming obsolete but also organizational processes and systems because they simply no longer create enough value. To seamlessly account for the digitalization of the business and the customer side, new ideas are mandatory, and the whole business model is increasingly becoming the new source of innovation. A new, smartly designed business model can increase the total value created for all stakeholders, including customers, partners and suppliers. 
The three design elements that characterize a company’s activity system are content, structure and governance. Changing one or more of these elements means changing the entire model, and if the new business model is “new to the world” and not just “new to the company” it can be considered real business model innovation. Content, structure and governance can be highly interdependent; they need to be in line with value creation and capture the goals of the company, such as its revenue model.

</abstract>

Business Model Innovation: How to Create Value in a Digital World

<abstract>
<title style='display:none'>Abstract</title>
"Companies are relying more and more on online communication to reach consumers. While some viral campaigns are tremendously successful, others remain far below expectations. But why are certain pieces of online content more viral than others?
An analysis conducted on the New York Times’ most-emailed list, along with further experimental evidence, showed that positive content is more viral than negative content. However, the relationship between emotion and social transmission is more complex than valence alone. Virality is driven, in part, by activation and arousal. Content that evokes either high-arousal positive emotions (awe) or negative emotions (anger or anxiety) tends to be more viral. Content that evokes low arousal or deactivating emotions (e.g., sadness) tends to be less viral. These results were also true when examining how surprising, interesting, or practically useful content is (all of which are positively linked to virality), as well as external drivers of attention (e.g., how prominently content is featured). Taking the effect of emotions into account helps to design effective viral marketing campaigns.
"

</abstract>

Joseph G. Campbell Assistant Professor of Marketing, Wharton School, University of Pennsylvania, Philadelphia, USA

Assistant Professor of Operations and Information Management, Wharton School, University of Pennsylvania, Philadelphia, USA

Emotion and Virality: What Makes Online Content Go Viral?

<abstract>
<title style='display:none'>Abstract</title>
If “consumer brand engagement” is what happens in isolation, in a consumer’s own individual mind and thoughts, then “social brand engagement” is the diametrical opposite of this. Social brand engagement is a social act full of culture, meaning, language, and values. With social brand engagement, relationships widen from person-brand to person-person-brand.
This can take different forms. While some consumers remain passive, others act more or less creatively in favor of or against brands. Some marketers are happy with the forms of evangelizing in which consumers simply spread brand messages. But the most authentic and believable form of endorsement, and therefore the optimal state, is marked by the creative expression and use of the brand. Here, people play positively and socially with the brand. They view it as a valued and valuable cultural resource and such social brand engagement has meaningful social, creative and productive outcomes.
In successful social brand engagement, both consumers and producers play active roles, but one party has to take the lead. Companies have historically had major problems letting consumers take over some of their former responsibilities. For successful authentication to happen, however, putting consumers in the driver’s seat is sometimes—but certainly not always—necessary.

</abstract>

Social Brand Engagement: A New Idea

<abstract>
<title style='display:none'>Abstract</title>
The driving force behind our internet economy is demand-side economies of scale, also known as network effects. These arise when users create value for other users and are enhanced by technologies that create efficiencies in social networking. While resource control and supply side efficiency used to be key success factors in the past, building platforms, orchestrating networks and managing relationships determine success in an increasingly digital world. 
Successful platforms seek to maximize the overall value of the whole system in a circular, revolving and feedback-driven process. By attracting more platform participants they are able to offer a higher value. The larger the network, the better the matches between supply and demand and the richer the data that can be used to find matches. 
Successful platforms put companies that use traditional business models at risk. Many companies are still highly competitive, but when platforms enter the same marketplace, the platforms usually win. Companies that fail to create platforms on their own or to integrate their business into existing platforms will be unable to compete for long.

</abstract>

Platform Business: From Resources to Relationships

<abstract>
<title style='display:none'>Abstract</title>
Determining consumer preferences is still one of the most important topics in marketing research. Not surprisingly, numerous approaches have been developed for this task. Conjoint measurement techniques are among the most prominent and different forms have emerged over the years. Depending on the specific research setting, all of them have their advantages and drawbacks. The authors discuss the nature and applicability of recent conjoint approaches and provide examples. Guidelines for selecting the optimal technique help to identify which approach works best in a given situation. 
</abstract>

Postdoctoral Research Associate, Institute of Marketing & Media, University of Hamburg, Germany

Professor of Marketing and Branding, Head of the Institute of Marketing & Media, University of Hamburg, Germany

Preference Measurement with Conjoint Analysis. Overview of State-of-the-Art Approaches and Recent Developments

Buy Print

Publication Ethics Statement

NIM Marketing Intelligence Review

formerly: GfK Marketing Intelligence Review

 The NIM Marketing Intelligence Review (NIM MIR) is a leading global journal for marketing decision makers. It offers marketing knowledge from well-known academic...

 The NIM Marketing Intelligence Review (NIM MIR) is a leading global journal for marketing decision makers. It offers...