Frontiers in Business and Economics

Effective Customer Relationship Marketing: Roadmap to Organization’s Optimal Customer Retention

Sat, 31 Aug 2024 00:00:00 +0000

Customer Relationship Marketing (CRM) is a strategic approach focused on managing customer interactions to foster long-term loyalty. It aims to deliver personalized, relevant, consistent experiences across multiple channels, enhancing value for the business and its customers. As CRM is not a universal solution, its efficacy varies across organizations and is influenced by unique opportunities and challenges specific to each context. This essay critically examines the extant CRM literature to identify the key factors affecting customer retention, such as customer satisfaction, trust, and engagement. Based on this analysis, we propose a conceptual framework to guide businesses in developing CRM strategies that align with their objectives, resources, and capabilities. This framework emphasizes the importance of comprehending customer needs, leveraging data for personalization, and ensuring a seamless cross-channel experience. In conclusion, this essay proposes recommendations for future CRM research, suggesting that further investigation is necessary to address emerging trends and technologies, such as AI and big data, that are transforming the CRM landscape. Organizations can strengthen customer relationships and achieve sustainable business success by adopting a tailored approach to CRM.

Examining the Effect of Investment, Zakat and Poverty on Economic Growth in Indonesia: A Moderation Analysis

Irpan Deni Syahwitra, Suriani Suriani, Muhammad Nasir — Sat, 31 Aug 2024 00:00:00 +0000

Economic growth denotes a sustained increase in a nation's production of goods and services, functioning as a crucial indicator of economic vitality and advancement. This phenomenon reflects improved living standards, such as elevated income levels and enhanced prosperity. This study investigates the moderating role of investment and zakat in the relationship between poverty and economic growth. Utilising annual panel data from 30 provinces from 2018-2022, this study employs Moderated Regression Analysis (MRA) to examine how zakat influences this relationship. This analysis aims to determine whether zakat amplifies or diminishes the impact of poverty on economic growth. The findings reveal that domestic and foreign investment has distinct effects on economic growth with varying impacts across different contexts. Poverty was found to have a significant negative effect on economic growth, underscoring the importance of addressing poverty in fostering sustainable development. Zakat demonstrated a significant negative moderating effect on the relationship between poverty and economic growth. This suggests that, under current management practices, zakat may not be as effective in alleviating poverty or supporting growth as intended. Based on these results, this study recommends improving zakat management in Indonesia, highlighting its potential to play a more substantial role in poverty reduction and economic development. Strengthening the administration and distribution of zakat could enhance its effectiveness in promoting equitable growth and reducing poverty, ultimately contributing to a more inclusive and prosperous economy.

How do Poverty, Education, and Health Budgets Impact Life Expectancy? The Mediating Role of Sanitation

Kurniawati Kurnia, Srinita Srinita, Ernawati Ernawati — Sat, 31 Aug 2024 00:00:00 +0000

Life expectancy is a crucial indicator of the well-being and quality of life of a population. Numerous factors influence life expectancy, including government policies in allocating budgets to key sectors. This study examined the relationship between poverty, education, health budgets, and life expectancy, considering the role of sanitation as a mediating factor. This study aims to elucidate how these three sectors interact in affecting life expectancy, and to what extent sanitation acts as a mediating factor in the relationship between budget allocation and life expectancy. This study analysed the effects of poverty, education, and health budgets on life expectancy in Aceh Province, as well as the role of sanitation as a mediating variable. Secondary data in the form of panel data with 345 observations from 23 districts/cities over 15 periods in Aceh Province from to 2008-2022 were utilised. Panel data regression analysis was employed to estimate the research model, while path analysis and Sobel test were used to assess the mediating role. The results revealed that poverty had a significant negative effect on sanitation, while education and health budgets had significant positive effects. Regarding life expectancy, poverty, education, and sanitation had significant positive effects, but the health budget did not show a significant impact. Furthermore, poverty, education, and health budgets had significant indirect effects on life expectancy through the mediation of sanitation. The indirect effect of poverty on life expectancy through sanitation was negative, while the indirect effect of education on life expectancy through sanitation was positive. This research provides valuable insights for policymakers to optimise budget allocations to increase life expectancy by considering the important role of sanitation as a mediating factor. These findings emphasise the importance of reducing poverty and increasing education to improve sanitation and ultimately enhance life expectancy.

Examining the Effects of Organizational Factors on Teacher Outcomes at a Trilingual School in Surabaya, Indonesia

Michelle Angeline, Agus Sukoco, Joko Suyono, Abdul Talib Bon — Sat, 31 Aug 2024 00:00:00 +0000

This study investigates the impact of organizational vision, culture, and teacher salary on teacher motivation and performance at Little Sun Trilingual School in Surabaya. Acknowledging the pivotal role of teachers in education, the research explores how aligning organizational vision and culture, along with fair compensation, influences teacher motivation and performance. Using surveys and interviews with 100 teachers, the study employs a mixed-methods approach. The quantitative phase analyzes statistical relationships between organizational elements, while qualitative data provides nuanced insights into teachers' experiences. Preliminary findings indicate a significant correlation between a clear organizational vision, positive culture, and enhanced teacher motivation. The study also delves into the nuanced role of teacher salary in shaping motivation and subsequent performance. The research contributes valuable insights for educational institutions seeking to improve teacher satisfaction and performance by understanding the interplay between organizational vision, culture, and compensation. Instrument reliability was assessed using Cornbrash’s alpha on Smart PLS, revealing strong connections between organizational culture, teacher motivation, and performance. This paper discusses the varied outcomes resulting from this relationship and significantly contributes to reducing teacher turnover. By establishing specific links between organizational vision, culture, and teacher salary, the paper elucidates why these factors impact teacher motivation, subsequently influencing performance.

Factors Affecting Personal Investment in Mutual Funds via Mobile Applications: An Empirical Analysis

Dewi Rahmayanti, Ridwan Nurazi, Doni Aidul Adha — Sat, 31 Aug 2024 00:00:00 +0000

Investing in mutual funds involves delegating financial decisions to an investment manager, and technological advances have made investments accessible on mobile platforms, providing various convenient features. This research empirically investigates whether individuals' behavior to invest in mutual funds on mobile platforms is still influenced by intention, possessing adequate financial literacy, and investment experience. Utilizing the construct Theory of Reasoned Action (TRA), the scale measured consists of 22 indicators related to the selected constructs and variables. Data were collected from 237 individual respondents from Indonesian society who have or have never invested in mutual funds on mobile platforms. PLS-SEM was used for statistical analysis. The findings reveal that attitudes, subjective norms, and financial literacy positively impact intention. Then, intention, financial literacy, and experience strongly influence individuals to invest in mutual funds via mobile platforms. This indicates that investing in mutual funds on mobile platforms is still based on strong intentions, adequate financial literacy, and experience in investing. The findings of this research will contribute to understanding individual behavior in investing, especially in using technology in investment. Furthermore, the important findings in this research can provide valuable guidance for policymakers, such as governments, Indonesian stock exchanges, and investment managers.

The Marketing Strategies for Increasing Sales Performance of Chinese Tea: Case Study on Ankang Tea in Shaanxi Province in China

Qu Yuyuan, Ahmad Budiman Husain — Sat, 31 Aug 2024 00:00:00 +0000

This study explores the development of marketing strategies aimed at enhancing the sales performance of Chinese tea, with a specific focus on Ankang Tea from the Shaanxi Province in China. The research delves into a multifaceted approach to increase the market presence and profitability of this unique product. Key aspects of the study include understanding the target audience, establishing a strong online presence, leveraging social media, and utilizing popular e-commerce platforms. Diversification of product offerings, emphasis on quality and authenticity, exceptional customer service, and the implementation of a loyalty program are integral components of the proposed strategies. Furthermore, collaboration with influencers and tea experts, localization of marketing efforts, and continuous monitoring and adaptation of strategies are highlighted. Regulatory compliance, packaging, and shipping considerations, along with the importance of customer feedback and offline promotion, round out the comprehensive approach outlined in this study. The findings offer valuable insights into effectively navigating the e-commerce landscape for Chinese tea products, ensuring sustainable growth and market success.