Journal of value creating in Business Management

Abstract Abstract The purpose of this research is to design a strategic model of online banking relational marketing in the fourth industrial revolution with a data-based approach. The research method is applicable-developmental in terms of its purpose, and exploratory in terms of its nature. The statistical population of the research included 11 experts from the banking industry, and the sampling was done in a purposeful and snowball type. Data-based theory was used to collect and analyze data. The data collection tool is a semi-structured interview. Data analysis and model design were done in three stages of open, central and selective coding. The findings showed that emerging behaviors and new developments in relational marketing are key causal conditions, while the development of relational marketing components, customer behavior changing, and the fourth industrial revolution were identified as ground conditions. This study also showed the need for banking transformations, external disruptions, relationship management and human capital transformation, and barriers to online banking as intervener factors. Tactical transformative programs in the open banking system, using customer data for banking strategy, opportunism and loyalty with a constructivist perspective were identified as effective strategies. The consequences of this model include the transformation of the banking system and new banking, investing in new forms, increasing income by aligning online services, and managing relationships with virtual customers. Extended Abstract                                           Introduction The first industrial revolution changed life and economy in general and changed the agricultural economy to an economy in which industry and machines are dominated by humans. Oil and electricity facilitated mass production in the second industrial revolution, and information technology was used to automate production in the third industrial revolution. Finally, in the fourth industrial revolution, attention was paid to increasing the cognitive power of human productions and this power was strengthened (Xu et al., 2018). Considering the fourth industrial revolution and the decline of traditional marketing and the emergence of relational marketing, organizations are determined to create strong links with their customers by using relational marketing strategies. Relational marketing is today's business art (Talari & Khoshroo, 2022). Online banking relational marketing is one of the important factors in the fourth industrial revolution. Due to the advancement of information and communication technology, banks need to find new ways to attract and retain their customers. In this regard, the use of online relational marketing methods can be effective in providing customers with a positive banking experience. Currently, the business environment is witnessing deep and fundamental changes, and many experts in the field of business and economics believe that this evidence indicates the beginning of a new era, the fourth industrial revolution (Basyazicioglu & Karamostafa, 2018). The first industrial revolution changed life and economy in general and changed the agricultural economy to an economy in which industry and machines are dominated by humans. Oil and electricity facilitated mass production in the second industrial revolution, and information technology was used to automate production in the third industrial revolution. Finally, in the fourth industrial revolution, attention was paid to increasing the cognitive power of human productions and this power was strengthened (Xu et al, 2018). Based on this, the current research is looking for an answer to this question: What is the strategic model of online banking relational marketing in the fourth industrial revolution with the data-based approach?  Theoretical Framework Relational marketing Relational marketing consists of Creating, maintaining, and promoting relationships with customers and stakeholders of the company, which is achieved through building trust as a result of fulfilling obligations. In fact, relational marketing is defined as a type of marketing that attracts, develops, maintains, and promotes relationships with customers. The rationale for using relational marketing is that it forces the company to focus on the long-term financial benefits that can occur when a customer first enters the organization, and this is because acquiring new customers for the company is 5 to 10 times more expensive than retaining existing customers (Ghosal et al, 2020). Principles of marketing in the fourth industrial revolution Apart from the design principles of the fourth industrial revolution, marketing throughout the new industrial revolution has been accompanied by redefined marketing principles based on connectivity, communication, and collaboration in the digital ecosystem. Unlike traditional marketing, where marketers and organizations are in control, Industry 4.0 requires that all stakeholders—including customers, business partners, and suppliers—in the digital ecosystem be treated equally (Ramadhani et al, 2019). The main empowering technologies of the fourth industrial revolution in marketing Emerging technologies provide opportunities for companies to change their practices and adapt them to customer demands and expectations. Therefore, with new technologies in Industry 4.0, companies can achieve the sustainable competitive advantage needed for better market positioning and performance (Jančíková et al, 2019). Pfajfar et al, (2022) conducted a research entitled the value of corporate social responsibility for multiple stakeholders and social impact - relationship marketing perspective. The results confirm a positive relationship between employee-oriented CSR and the perceived usefulness of CSR actions for society, customers, and employees (but not suppliers). Differences between small and medium-sized companies and large B2B companies are observed with contrasting perceptions of relationship quality antecedents and outcomes. Rosário et al, (2022) conducted a research titled Industry 4.0 and Marketing: Towards an Integrated Future Research Agenda. This paper shows that there are several research avenues for marketing researchers to conduct research in, but the most important areas are the five principles of marketing in Industry 4.0: collaboration, dialogue, co-creation, recognition, and connection. Future research should focus on the quantitative study of these five principles. Research methodology The research method is applicable-developmental in terms of its purpose, and exploratory in terms of its nature. The statistical population of the research included 11 experts from the banking industry, and the sampling was done in a purposeful and snowball type. Data-based theory was used to collect and analyze data. The data collection tool is a semi-structured interview. Research findings Data analysis and model design were done in three stages of open, central and selective coding. The findings showed that emerging behaviors and new developments in relational marketing are key causal conditions, while the development of relational marketing components, customer behavior changing, and the fourth industrial revolution were identified as ground conditions. This study also showed the need for banking transformations, external disruptions, relationship management and human capital transformation, and barriers to online banking as intervenor factors. Tactical transformative programs in the open banking system, using customer data for banking strategy, opportunism and loyalty with a constructivist perspective were identified as effective strategies. The consequences of this model include the transformation of the banking system and new banking, investing in new forms, increasing income by aligning online services and managing relationships with virtual customers. Conclusion The current research was conducted with the aim of designing a strategic model of online banking relational marketing in the fourth industrial revolution with the data-based approach. The results of this research are in agreement with the results of Pfajfar et al, (2022), Rosário et al, (2022), Talari & Khoshroo (2022), Adetyoa et al., (2021), Zalkani Andarvar (2021), Mohammadi fateh et al, (2022), Najafzadeh Ziaodin et al, (2021), Mosavi et al, (2020), Vazifehdoust et al, (2017), and Kosiba et al, (2018). Mohammadi fateh et al, (2022) showed that the technologies of the fourth industrial revolution are big data, biological identification system, fraud detection technologies, contactless ATM, data mining, cloud computing, marketing, versatile channel, artificial intelligence, fintech, biometrics, blockchain, intelligent social networks, artificial neural networks, remote monitoring technologies, commercial Internet of Things, and digital account, respectively. Then, by these experts, the application rate of these technologies is specified in four areas of banking, i.e. marketing, human resource, risk management, and customer orientation in a three-level spectrum (low, medium and high). According to the opinion of experts, all the identified technologies have medium to high application in four areas of banking. According to the results of the research, the following suggestions are presented: It is suggested that online relational marketing is one of the important aspects of banking in the fourth industrial revolution. Online relational marketing can improve customer loyalty. To manage relationships with virtual customers, banks must use the principles of marketing in the fourth industrial revolution, including collaboration, dialogue, co-creation, recognition and connection. These principles create an innovative approach to the marketing mix under new conditions in the fourth industrial revolution.  

Abstract Abstract The aim of this research is the digital branding model of healthy agricultural products. The research method is applicable in terms of its purpose, and exploratory in terms of its descriptive and analytical nature. The qualitative research method was carried out using the data-based method and Max QDA software, and the code collection tool was a semi-structured interview in the form of a purposive sampling method, and theoretical saturation was achieved with 13 experts in this field. Also, with 82 open coding, 22 central and selective categories, the model of digital branding of healthy agricultural products in Iran was designed. Digital branding of healthy agricultural products is centered around the creation of brand meaning and brand power, which initiates under influence of casual conditions, and makes sense with different strategy of digital brand creation and brand power, and strengthens the brand culture in the target community by compiling and implementing a combination of brand-aligned marketing and integrated communication marketing, and visualizes the identity and personality of the digital brand of healthy agricultural products in the mind of the customer. The strategy under the influence of intervening factors is trying to fulfill the demand for food safety and health, and gains fame by fulfilling the promise of the brand and delivering a healthy product at a reasonable price, and repeated purchase of agricultural products by loyal customers requires more production and causes employment and rural economic prosperity. Extended Abstract Introduction Agriculture has existed since ancient times, and continues to be a vital area of ​​human activity today (Bahcecik et al., 2019). It also is the only source of food, an important supplier of raw materials for industry, as well as a significant market for production (Adamov et al., 2016). Agricultural trade plays an important role in the implementation of national goals and strategic goals of the country. Effectiveness, efficiency of labor productivity and support of employment, small and medium businesses and support of individual entrepreneurship, international cooperation and export have been established due to agricultural businesses. This issue, which is one of the most important and promising parts of the domestic economy, provides not only the food security of the country but also the social welfare of the people. In addition, agriculture plays a major role in shaping the country's export capacity and import substitution program. In recent years, agricultural trade has been developed in most industries in raw materials and feed production.  This has been facilitated by sanctions and the growing demand for safe and quality food products (Butova et al., 2019). The country of Iran is proficient in the production of agricultural products, and produces all kinds of agricultural and garden products every year; all Iranian products have a high capacity to be branded due to Iran's special climatic conditions and the country's four season, but unfortunately, many products that are at a high level in terms of quality are bought in bulk and exported to other countries and sold under the brand of these companies; therefore, the lack of a suitable brand is one of the weaknesses of Iran's agriculture, which demands that this sector be given a proper arrangement. Producers of healthy agricultural products should understand the potential of the Internet as a branding tool in the agricultural sector because the Internet can be a powerful branding tool for healthy agricultural products beyond labels and brochures. The use of the main components of Internet marketing, such as e-mail, online stores, websites, social networks, viral marketing and content increases the contact points with actual and potential customers and shortens the distance between the product supply and the consumer market, and enables receiving feedback from the brand community. In this research, an attempt has been made to answer the question: what is the pattern of digital branding of healthy agricultural products in Iran? Theoretical Framework The pressure to compete with other brands and differentiate with others creates motivation and creates the need for branding. Today, due to factors such as the increase of actors entering a sector, the changing demand of buyers and the increasing expectations of export markets; small business units are forced to review traditional business practices. In a competitive situation, the success of a product largely depends on the perception of its target audience. Branding can be critical to a company's long-term success, especially for companies that operate in markets with many clusters of buyers and sellers and few differentiated products (Ghafourian Shagerdi et al., 2019). Sharma et al., (2023)  in examining the adoption of digital branding among specialty dining startups in a post-pandemic environment concluded that digital branding plays an important role as an independent branding strategy and increases the performance of specialty dining startups in the post-pandemic era. In addition, it highlighted the significant mediating effect of digital support and awareness on digital brand adoption intention. Amidabad et al., (2023) in an article titled Designing a digital marketing model in the brand of online business companies, using a qualitative mixed approach. In the qualitative part of the research, the researcher-made fuzzy Delphi questionnaire was used. The experts were selected through purposive and non-probability sampling, and in-depth and semi-structured interviews were conducted with them. In the quantitative part of the research, the fuzzy Delphi technique was used to screen the obtained indicators, then the interpretive structural modeling method was used to identify the causal relationships between the main research articles. Overall, the model obtained consists of 5 main categories, including digital marketing strategy, personalization, content marketing, interaction with consumers, and mixed digital marketing. Based on the results, it was shown that the digital marketing strategy is the most basic element of the model and is an external independent variable. This variable has an effect on content marketing, interaction with consumers, and mixed digital marketing. Marin & Nilă (2021) in a research titled Branding in the social network: the use of the LinkedIn network in personal brand communication, investigated the attitude of recruitment and human resources professionals towards the development of a personal brand in LinkedIn and the criteria used in the evaluation of a communication and marketing specialist. Quantitative research based on two questionnaires was used to understand the perceptions of the study participants. The results showed that social media networks are a useful tool for developing a personal brand, but communication and marketing professionals show moderate involvement. Similarly, recruitment professionals have high expectations while communication and marketing professionals use similar methods to present themselves. Shafiee et al., (2016) in a research entitled presenting a local branding model for online retail sales using the qualitative method of data-based theory, used theoretical sampling by using the qualitative method and conducting semi-structured interviews with knowledgeable people and experts in the field. After conducting interviews and collecting information, the codes obtained in different sections were analyzed, and after performing the three steps of open, central, and selective coding, the final model was obtained; which includes the sum of central categories, causal conditions, intervening conditions, strategies, and finally, the consequences and results of branding. The results of the research show that the authentic brand prevents the effort to recognize other competitors. online payment through secure banking intermediaries increases trust in the digital brand. Methodology This research is designed based on the approach of basic constructivist theory, which is suitable for understanding the complex, problematic, and relativist nature. Data was collected through semi-structured interview on a sample. Marketing managers and digital branding experts and consultants were purposefully selected based on theoretical sampling criteria. Theoretical sampling means that participants are selected based on emergent analysis; and the theory that is created from the data is subsequently modified from the data obtained from subsequent participants. A total of 13 experts have been interviewed, and theoretical saturation was achieved with this number. Max QDA version 2020 software was used for qualitative analysis and coding of semi-structured interview data. Discussion and Results In this research, for the analysis of indicators and findings in the qualitative part, the data-based theory including three stages of coding was used. In the first stage, primary codes and concepts were extracted using the key points of the interviews. Then 22 main categories and 82 subcategories were extracted. The indicators were analyzed in 3 stages of open, axial, and selective coding. Max QDA 2020 software was used for data analysis, and a total of 113 codes were extracted from 13 interviews in the form of 22 main categories and 82 subcategories. According to the indicators obtained in the research process and the analyzes performed on them, the final model was obtained using the coding method. Conclusion Digital branding of healthy agricultural products is centered around the creation of brand meaning and brand power, which initiates under influence of casual conditions, and makes sense with different strategy of digital brand creation and brand power, and strengthens the brand culture in the target community and visualizes the identity and personality of the digital brand of healthy agricultural products in the mind of the customer. The strategy under the influence of intervening factors is trying to fulfill the demand for food safety and health, and gains fame by fulfilling the promise of the brand and delivering a healthy product at a reasonable price, and repeated purchase of agricultural products by loyal customers requires more production and causes employment and rural economic prosperity.