Document Type : Original Article
Authors
1
Professor of Economics, Department of Economics, Faculty of Economics and Social Science, Alzahra University, Tehran, Iran.,
2
MA in Economics, Department of Economics, Faculty of Economics and Social Science, Alzahra University, Tehran, Iran.
3
M.A. in Business Administration, Islamic Azad University E-Campus, Tehran, Iran,.
Abstract
Introduction: To introduce the brand and enhance its value in the markets and among potential customers, policymakers should prioritize customer orientation. Customer orientation is a business approach that prioritizes the needs of the customer over the needs of the business. This means that the business cannot thrive unless "customer satisfaction" is the primary goal. It involves creating a culture of customer orientation and recognizing that customers are the lifeblood of the business. However, customer orientation is influenced by various factors, one of which is the growth of e-commerce. E-commerce has revolutionized the traditional buying process, which used to require a significant amount of time for sellers and customers to connect. In comparison, e-commerce offers numerous advantages, such as increasing market competitiveness, providing quick and easy access to transaction information, reducing the information rent, increasing the number of suppliers, increasing the choice power of consumers, etc.) and by reducing the price of goods and services, improving product quality, and enhancing distribution systems. Additionally, e-commerce allows customers to easily access a wide range of goods and services from around the world, which increases customer satisfaction and improves brand perception. Specifically, the development of e-commerce, which is the result of the widespread use of the Internet and social media, offers opportunities to reduce costs, enhance brand awareness, and boost sales. It also provides significant prospects for companies to enhance their brand value (Dwivedi et al., 2020). Methodology: The data used is panel data, and the dynamic panel-type research model was selected. The generalized method of moments was used, where the dependent variable (brand value) appears as an independent variable on the right side of the equation. The dependent variable is logarithmic, and the use of the natural logarithm facilitates the interpretation of the coefficients. Finding: The findings show the positive and significant effect of e-commerce and customer orientation on increasing the value of the national brand. The results of the present research are consistent with the results obtained by researchers and researchers with similar studies and confirm the positive and significant effect of explanatory variables (e-commerce and customer orientation) and control variables (innovation, good governance, and globalization) on the dependent variable. Discussion and Conclusion: The results showed that e-commerce has a positive and significant effect on the brand value of both groups of selected countries. The degree of customer orientation in the market has a positive and significant effect on the brand value of both groups of selected countries. The estimated coefficients of both e-commerce and customer-oriented variables in developing countries are larger than the coefficients obtained for developed countries. This suggests that the promotion and improvement of these components have a greater impact on the positive change of brand value in developing countries. The interactive effect of e-commerce and the degree of customer orientation in the market on the brand value of two selected groups of countries is positive and significant. The comparison of the estimated coefficients indicates that the interaction and simultaneous implementation of e-commerce and the degree of market customer orientation have a greater positive effect on brand value than the separate effect of each individually. Furthermore, the coefficient of interaction for the second explanatory variable is higher in pre-innovative countries. This suggests that in such countries, the growth of e-commerce will have a more significant impact on enhancing customer satisfaction and consequently, increasing brand value. The effect of good governance on brand value in selected countries is positive and significant. Improving the quality of governance institutions means enhancing political stability, government effectiveness, corruption control, the rule of law, and the quality of laws and regulations. Compliance with standards increases the quality and reduces the cost of goods and services produced under different brands, giving them a competitive advantage and attracting more satisfied customers. Ultimately, this provides the foundation for increasing the value and growth of existing brands in countries. The effect of globalization on the brand value of both groups of selected countries is positive and significant. Greater integration with the global community allows for the development of social, economic, and political exchanges with other countries. This integration also provides the possibility of better identification of the needs and preferences of stakeholders in international markets. Additionally, it grants access to knowledge and technology through fast and borderless communications in virtual space, which can be applied in production processes. Innovation has a positive and significant effect on the brand value of both groups of selected countries. Supporting intellectual property rights, research and development, researchers, and applying demand-oriented research leads to the growth of innovation and creativity in this sector. Innovation, by offering a range of economic services and adapting to evolving customer preferences, will attract greater customer satisfaction than ever before.
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