The globalisation era, characterised, among others, by rapid and extensive social networking, as well as borderless information flow, present both opportunities and challenges. In order to gain and retain competitive advantage in this dynamic context, innovative approaches are required. Dynamic capabilities theory, referenced by Chuwiruch, Jhundra-Indra and Boonlua (2015: 83), entails the “abilities in dealing with rapidly changing environment through integrating, building, and reconfiguring internal and external competencies”. They advocate five dimensions towards innovative marketing, namely (1) internet marketing focus; (2) relationship marketing concentration; (3) customer co-creation orientation; (4) alternative marketing awareness; and (5) alliance marketing concern. These dimensions in turn impact consequential variables, namely (a) brand trust; (b) customer fulfilment; (c) marketing image and (d) marketing performance.
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Five dimensions towards innovative marketing |
How to optimise with regard to cooperative and work-integrated education (CWIE) |
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1. Internet marketing focus |
Business is increasingly using social networking for enhancing three-way communication with stake-holders. Higher education could derive positive benefits from using social networking and increase contact with and among (‘word-of-mouth’) practitioners in occupational-fields. |
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2. Relationship marketing concentration |
Relationship marketing includes activities in building relationships at every interaction. The intention is to nurture relationships; keep existing customers; attracting new customers; and to create future benefits. Higher education should strive to maintain durable relationships with providers of work-integrated/place learning opportunities. |
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3. Customer co-creation orientation |
Co-creation entails the incorporation of customer experiences in ‘product’ development. Higher education need to engage the relevant occupational field to better understand what the expected outcomes are of qualifications offered; and revise curriculums accordingly. |
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4. Alternative marketing awareness |
‘Alternative’ implies actions different from the usual/traditional ways. With regard to CWIE, higher education needs to actively engage with stakeholders of the relevant occupational fields. |
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5. Alliance marketing concern |
The forming of alliances with rivals/competitors at appropriate levels has been found to be beneficial. Higher education must seek alliances in the interest of reciprocal benefits. |
Pursuing of all five dimensions is likely to positively influence band trust, customer fulfilment, image, and market performance. Trust is about confidence in reliability and integrity, about honesty and generosity in exchange. Brand comprises “name, term, symbol, logo, and/or design which is used in recognizing a product/service … and distinguishes these products/services from those of its competitors” (Chuwiruch, Jhundra-Indra & Boonlua, 2015: 87). Of particular importance to CWIE is the fact that brand trust involves willingness to count on or display confidence and a degree of positive expectations, which should be instilled within the occupational fields concerned. Brand trust directly impacts affirmative decisions. The fulfilment of customer needs is depicted by a higher education institution’s competence to correctly interpret the needs of the relevant occupational field and produce work-ready graduates. Advisory structures and processes (which could include social networking) play an important role. The marketing image involves a ‘set of meanings’ by which is made know and remembered. This is of significance to CWIE in that stakeholders in occupational fields in that the marketing image either add value or detracts about the credibility and quality of the particular higher education institution.
A conceptual model produced by Chuwiruch, Jhundra-Indra and Boonlua (2015: 89):
P1 - Internet marketing focus will have a positive effect on (a) brand trust, (b) customer fulfillment, (c) marketing image, and (d) marketing performance.
P2 - Relationship marketing concentration will have a positive effect on (a) brand trust, (b) customer fulfillment, (c) marketing image, and (d) marketing performance.
P3 - Customer co-creation orientation will have a positive effect on (a) brand trust, (b) customer fulfillment, (c) marketing image, and (d) marketing performance
P4 - Alternative marketing awareness will have a positive effect on (a) brand trust, (b) customer fulfillment, (c) marketing image, and (d) marketing performance.
P5 - Alliance marketing concern will have a positive effect on (a) brand trust, (b) customer fulfillment, (c) marketing image, and (d) marketing performance.
P6 - Brand trust will have a positive effect on marketing performance.
P7 - Customer fulfillment will have a positive effect on marketing performance.
P8 - Marketing image will have a positive effect on marketing performance.
Chuwiruch, N. Jhundra-Indra, P. & Boonlua, S. 2015. Marketing innovation strategy and marketing performance: a conceptual framework. Proceedings of the Academy of Marketing Studies, 19(2), 82-93. Available through subscription from https://www.highbeam.com/doc/1P3-3951646411.html
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