Identifying customer knowledge management factors with a digital marketing approach in the banking system and presenting a model with a theme analysis approach

Jafari Dehkordi, Mahmoud; Ahmadi Sharif, Mahmoud; Keshtkar Haranaki, Mehran

doi:10.22034/jvcbm.2024.454757.1369

Identifying customer knowledge management factors with a digital marketing approach in the banking system and presenting a model with a theme analysis approach

Document Type : Original Article (Qualitative)

Authors

Mahmoud Jafari Dehkordi ¹

Mahmoud Ahmadi Sharif ²

Mehran Keshtkar Haranaki ³

¹ Ph.D. Student, Department of Business Management,, shahr-e- Qods Branch, Islamic Azad University, Tehran, Iran

² Assistant Prof, Department of Business Management, shahr-e- Qods Branch ،Islamic Azad University, Tehran, Iran

³ Assistant Prof, Department of Management, Higher National Defense University. Tehran, Iran

https://doi.org/10.22034/jvcbm.2024.454757.1369

Abstract

The purpose of this research is to provide a model to identify the role of social communication capital and the ability to take advantage of international business opportunities. The research method is applicable in terms of purpose, mixed (qualitative-quantitative) in terms of execution method, and descriptive-survey in terms of nature and method. The statistical population of the research in the qualitative part includes 17 experts from the country's petrochemical industry, and in the quantitative part, it includes 108 experts from the international trade department of the petrochemical industry; selected by a simple random sampling method. Data collection in the qualitative part was carried out by semi-structured interviews; and in the quantitative part by the questionnaire. Qualitative data analysis was done using the method of theme analysis and coding and MAXQDA software, and in the quantitative part, it was done using SPSS and Smart PLS software. In the qualitative section, 90 open codes and 14 categories were identified. In the quantitative part, confirmatory factor analysis was used to examine the validity of the identified elements and components of the model of the role of social communication capital in the ability to take advantage of international business opportunities in the petrochemical industry. The results of the research showed that the model of the role of social communication capital in the ability to take advantage of international business opportunities in the petrochemical industry has two main factors and their indicators. This model consists of indicators that are the core and heart of this model. Also, the GOF index was obtained 0.44, which indicates the good fit of the model.
Introduction
The variety of needs and demands, and the change in the pattern of production and consumption and, as therefore, life as a result of significant advances in technology have made it impossible to live within the borders of a country, so that internal border relations have turned into international relations in a very broad sense, and even the disappearance of these borders is also expectable. Different nations with different cultures, policies and economic and social conditions need to exchange goods and services to meet their diverse needs. Due to these new conditions and new needs, different societies have started trading with other countries and at this time opportunity have been created to increase commercial activities. Among these opportunities, we can mention export, non-oil export, and joint cooperation (Ahoei, 2019). International business opportunities are the possible opportunities that organizations face due to their presence in foreign markets (Muzychenko, 2008). Various factors can contribute to its non-development. In this research, social communication capital is one of the factors whose role is investigated in using international business opportunities. Social capital or social bonds that are placed in different cultural contexts are important and valuable resources that bring the meaning of identity to people's minds. This type of identity concept will give them a positive emotional experience (Shan & Tian, 2022). Social capital is a comprehensive concept that takes into account the social aspect of human interaction and enables access to the resources of members of the association or network due to their membership in the association (Christy et al, 2022). Social capital refers to the characteristics of social organization such as trust, norms, and networks that can improve the efficiency of society by facilitating coordinated actions (Salisua et al, 2019). Therefore, this research aims to take an effective step in the direction of improving social communication capital and consequently empowering the performance of the country's petrochemical industry. As mentioned, today's organizations are under the influence of factors such as increased global competition, sudden transformations, the need for quality and after-sales services, and the existence of limited resources and under a lot of pressure. After years of experience, the world has come to the conclusion that if an organization wants to be a leader in its economy and business affairs and not lag behind in the field of competition, organizations must be empowered and be able to use this empowerment in line with practical action. Therefore, in this research, we are looking for an answer to this question: how to identify the role of social communication capital and the ability to take advantage of international business opportunities?
Theoretical Framework
Social capital
Social capital refers to features of social organization such as trust, norms, and networks that are able to improve the efficiency of society by facilitating cooperative actions. It is stated that social capital can be simply defined as the existence of a certain set of norms with informal values that the members of a group with cooperation among them, share in it (Alwani, 2015.(
International marketing opportunities
Internationalization is a step-by-step process of international business development, whereby a company is increasingly involved in international business operations through specific products in selected markets. To adapt the organization to the needs and preferences of customers, marketing knowledge is required to be created and disseminated among functional departments within an organization (Muzychenko, 2008). The export company must acquire the necessary and complete knowledge of the international marketing environment in order to increase the possibility of its success. The marketing environment includes forces that directly and indirectly affect the performance of the organization. For an organization, changes in the marketing environment create uncertainty, threats, and opportunities (Alaghehmand Shandi & Joybari, 2023).
Mahmoudi & Pourshahabi (2023) investigated the effect of the value of financial intelligence on the risk-taking of Zahedan National Bank employees with the mediating role of social capital. Analyzing the model and carrying out structural equations showed that financial intelligence with the mediating role of social capital cannot affect employees' risk taking. Also, the results showed that financial intelligence has a separate effect on the two variables of risk-taking and social capital.
Alaghehmand Shandi & Joybari (2023) investigated ethical challenges and opportunities in international business: a look at ethical values as the most important assets of international businesses. The results show how ethical values can be considered as the most important assets of international businesses. Some of the main ethical barriers in international business include corruption, unfavorable working conditions, and lack of respect for human rights. Also, some of the opportunities in international business include strengthening cultural connections, observing ethical principles in business relationships, and promoting transparency and accountability. Finally, this paper concludes that adherence to ethical values can serve as a competitive advantage for international businesses and help local and global communities to improve.
Research methodology
The research method is applicable in terms of purpose, mixed (qualitative-quantitative) in terms of execution method, and descriptive-survey in terms of nature and method. The statistical population of the research in the qualitative part includes 17 experts from the country's petrochemical industry, and in the quantitative part, it includes 108 experts from the international trade department of the petrochemical industry; selected by a simple random sampling method. Data collection in the qualitative part was carried out by semi-structured interviews; and in the quantitative part by the questionnaire.
Research findings
Qualitative data analysis was done using the method of theme analysis and coding and MAXQDA software, and in the quantitative part, it was done using SPSS and Smart PLS software. In the qualitative section, 90 open codes and 14 categories were identified. In the quantitative part, confirmatory factor analysis was used to examine the validity of the identified elements and components of the model of the role of social communication capital in the ability to take advantage of international business opportunities in the petrochemical industry. The results of the research showed that the model of the role of social communication capital in the ability to take advantage of international business opportunities in the petrochemical industry has two main factors and their indicators. This model consists of indicators that are the core and heart of this model. Also, the GOF index was obtained 0.44, which indicates the good fit of the model.
Conclusion
The current research was conducted with the aim of providing a model to identify the role of social communication capital and the ability to take advantage of international business opportunities. The results of this research are in agreement with the results of Mahmoudi & Pourshahabi (2023), Alaghehmand Shandi & Joybari (2023), Shariatnejad et al, (2023), Tajpor et al, (2022), Troise et al, (2020), Noruzi et al, (2019), and Pinho (2016). Noruzi et al, (2019) showed that social capital in a specific market and social capital at the international level have a direct and positive effect on taking advantage of business opportunities; on the other hand, social capital at the international level has a positive and meaningful effect on social capital in a specific market.
According to the results of the research, the following suggestions were presented:
Based on the research findings and confirmation of the effectiveness of inter-organizational cooperation, it is suggested that the training of human resources and empowerment in the field of inter-organizational cooperation in the organization should be included in the organization's programs, and increase employees' knowledge of different cultures through training courses and holding scientific meetings and scientific journals and... so that employees believe in it and respect it in the work environment.

Keywords

social communication, social capital, business opportunities, capability, relational dimension, structural dimension

Subjects

Other topics related to business management andEntrepreneurship

Abusharbeh, M. (2023), "The influence of knowledge creation process on customer relations management: evidence from Palestinian commercial banks", EuroMed Journal of Business, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/EMJB-08-2021-0116

Afshinmehr, F., & Saeednia, H., & Alipour Darvishi, Z., & Aligholi, M. (2023). Providing an electronic marketing model in digital banking in Iran. International Journal of Nonlinear Analysis and Applications, 14(11), 63-74. doi: 10.22075/ijnaa.2022.29270.4108. (In Persian)

Agheli, M., NikMenesh, Sh., Rashidi, H., & Jalali, P. (2023). Training on thesis writing and scientific article writing. first edition, Tehran: Dibagaran Book Institute. (In Persian)

Ashuri Roudpashti, A., & Mehrani, H., & Hamdi, K. (2020). Providing a strategic model based on machine learning approach to automatically measure opinions and explore product information in digital marketing. Strategic Management Research, 26(77), 73-98. 20.1001.1.22285067.1399.26.77.3.9. (In Persian)

Bagheri Anilu, S., & Vakil Alroaia, Y., & heidariyeh, S. A. (2023). Designing a digital marketing environment model in global markets. Journal of value creating in Business Management, 3(3), 246-263. doi: 10.22034/jvcbm.2023.413777.1168. (In Persian)

Bala, M., & Verma, D. A. (2018). Critical Review of Digital Marketing (October 1, 2018). M. Bala, D. Verma (2018). A Critical Review of Digital Marketing. International Journal of Management, IT & Engineering, 8(10), 321–339., Available at SSRN: https://ssrn.com/abstract=3545505

Busca, A. L., & Bertrandias, L. (2020) A Framework for Digital Marketing Research: Investigating the Four Cultural Eras of Digital Marketing, Journal of Interactive Marketing 49 (2020.) DOI: 10.1016/j.intmar.2019.08.002

Chavoshi, S. K., & Anisi, F. (2022). Strategic Control model for implementing Digital Banking in Iranian Banking System. JOURNAL OF STRATEGIC MANAGEMENT STUDIES, 13(50), 1-19. SID. https://sid.ir/paper/1139852/en. (In Persian)

Castagna, F., Centobelli, P, Cerchione, R., Esposito, E., Oropallo, E., & Passaro, R., (2022), Customer knowledge management in SMEs facing digital transformation, Sustainability 2020, 12(9), 3899; https://doi.org/10.3390/su12093899. Received: 17 March 2020 / Revised: 30 April 2020 / Accepted: 4 May 2020 / Published: 10 May 2020

Chauhan, S., & Akhtar, A., & Gupta, A. (2022), "Customer experience in digital banking: a review and future research directions", International Journal of Quality and Service Sciences, Vol. 14 No. 2, pp. 311-348. https://doi.org/10.1108/IJQSS-02-2021-0027

Dadashi, A. R. (2022). The effectiveness of the knowledge management model based on the European model of excellence in improving the competitive position of Tejarat Bank. Journal of value creating in Business Management, 2(1), 73-79. doi: 10.22034/jbme.2022.359914.1035.. (In Persian).

Deb, S. K., Nafi, S. M., & Valeri, M. (2022). Promoting tourism business through digital marketing in the new normal era: a sustainable approach. European Journal of Innovation Management. 13(2), 66-89. https://doi.org/10.1108/ejim-04-2022-0218

Fidel, P., Schlesinger, W., & Cervera, A. (2015). Collaborating to innovate: Effects on customer knowledge management and performance. Journal of business research, 68(7), 1426-1428. DOI: 10.1016/j.jbusres.2015.01.026

gholipour domyeh, H. (2023). A Concurrent Optimization of Knowledge Sharing and Customer Loyalty in Social Media under a Digital Marketing Approach. Journal of value creating in Business Management, 2(4), 1-24. doi: 10.22034/jvcbm.2023.382900.1050. (In Persian)

Hojjati A. (2022). The effect of digital marketing strategy in building customer commitment to Hamadan Housing Bank. Scientific Journal of New Research Approaches in Management and Accounting, 6(21), 376-387. Retrieved from https://majournal.ir/index.php/ma/article/view/1434. (In Persian)

Idrus, S., & Din Jannah, K., & Bagus Adi Wicaksono, M., & Parulian, S. M. Tanjung, B., & Amin, F. (2023), Digital Transformation and Artificial Intelligence in Marketing for Startups Using a Customer Knowledge Management Approach. International Journal Of Artificial Intelegence Research. Vol 6, No 1, June 2022. DOI:10.29099/ijair.v6i1.1.786

Kapoor, S. (2023). Prospects and challenges of digital marketing. Digital Marketing Outreach, 93-107. DOI:10.4324/9781003315377-7

Kaondera, P. R., & Chikazhe, L., & Munyimi, T. F., & Nyagadza, B., (2023), Buttressing customer relationship management through digital transformation: perspectives from zimbabwe’s commercial banks. Cogent Social Sciences, Volume 9, 2023 - Issue 1, Article: 2191432 | Received 18 Oct 2022, Accepted 11 Mar 2023, Published online: 20 Mar 2023. https://doi.org/10.1080/23311886.2023.2191432

Khandan, I., & Safania, A. M., & Baghrian Farahabadi, M., & Naqshband, S. S. I. (2024). Identification and analysis of drivers affecting the maturity of knowledge management in Tehran Municipal Sports Organization. Management and Educational Perspective, 6(2), 219-240. doi: 10.22034/jmep.2024.424120.1268. (In Persian)

Khodaparast, A.M., & Mirabi. H.R. (2015). The impact of digital banking on customer commitment in Bank Maskan. Master's thesis, Islamic Azad University, Central Tehran Branch - Faculty of Management and Accounting. (In Persian)

Lashgaripour, A., & Amiri, H., & Parsa Moin, K., & Beikzadeh, F. (2022). Human resource competency model in digital banking. Innovation Management in Defense Organizations, 5(3), 27-46. https://civilica.com/doc/1643820. (In Persian)

Lak, B., & Rezaeenour, J. (2018). Maturity assessment of social customer knowledge management (SCKM) using fuzzy expert system. Journal of Business Economics and Management, 19(1), 192-212. DOI:10.3846/16111699.2018.1427620

Mehdibeigi, N., Dehghani, M., & mohammad Yaghoubi, N. (2016). Customer knowledge management and organization's effectiveness: explaining the mediator role of organizational agility. Procedia-Social and Behavioral Sciences, 230, 94-103. https://doi.org/10.1016/j.sbspro.2016.09.012

Munir, A., & Kadir, N., & Umar, F. (2023). The impact of digital marketing and brand articulating capability for enhancing marketing capability. International Journal of Data and Network Science, 7(1), 65-72 DOI:10.5267/j.ijdns.2022.12.005

Nguyen, O. T. (2020). Factors affecting the intention to use digital banking in Vietnam. The Journal of Asian Finance, Economics and Business, 7(3), 303-310. DOI:10.13106/jafeb.2020.vol7.no3.303

Ramezani, S., & Esfidani, M. R., & Ansari, M. (2022). Identifying and investigating the factors affecting the digital marketing ecosystem in the banking industry: A study on Bank Mellat. Iranian journal of management sciences, 16(64), 63-86.. (In Persian)

Rizvanović, B., Zutshi, A., Grilo, A., & Nodehi, T. (2023). Linking the potentials of extended digital marketing impact and start-up growth: Developing a macro-dynamic framework of start-up growth drivers supported by digital marketing. Technological Forecasting and Social Change, 186, 122128. DOI: 10.1016/j.techfore.2022.122128

Rodrigues, A. R. D., Ferreira, F. A., Teixeira, F. J., & Zopounidis, C. (2022). Artificial intelligence, digital transformation and cybersecurity in the banking sector: A multi-stakeholder cognition-driven framework. Research in International Business and Finance, 60, 101616. DOI: 10.1016/j.ribaf.2022.101616

Sakas, D.P., Giannakopoulos, N.T. and Trivellas, P. (2023), "Exploring affiliate marketing's impact on customers' brand engagement and vulnerability in the online banking service sector", International Journal of Bank Marketing, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJBM-01-2023-0009

Saura, J. R. (2021). Using data sciences in digital marketing: Framework, methods, and performance metrics. Journal of Innovation & Knowledge, 6(2), 92-102. DOI:10.1016/j.jik.2020.08.001

Sawhney, A., & Ahuja, V. (2022). Drivers of Social Media Content Marketing in the Banking Sector: A Literature Review. Research Anthology on Social Media Advertising and Building Consumer Relationships, 396-418. DOI:10.4018/978-1-6684-6287-4.ch023

Shafeian, N., & Aghaei, M., & gharib navaz, N. (2022). Investigating Digital Marketing Pattern Using Foundation Data Approach in the Banking System (Case Study ‎Tose’e Ta’avon Bank). Governmental Accounting, 8(2), 59-72. doi: 10.30473/gaa.2021.58119.1461. (In Persian)

Shafaei, M., & kouloubandi, A., & Keramati, M. (2024). The effect of knowledge management on organizational performance considering the mediating variable of business process management. Journal of value creating in Business Management, 3(4), 1-19. doi: 10.22034/jvcbm.2024.414362.1173. (In Persian)

Shafee, S., & KhademI, R., & Hariri, A. (2021). The Customer Knowledge Management and Its Impact on Service Quality and Customer Satisfaction (A Periodical Study in the Mellat Bank of Kermanshah Province). Scientific Journal of Strategic Management of Organizational Knowledge, 4(2), 187-219.DOI: 20.1001.1.26454262.1400.4.2.6.5. (In Persian)

Shahvari, N. (2022). The future of digital banking: evidence from the banking and financial sector of Iran, research in accounting and economic sciences", 6th year - number 1 (first) 63-73. (In Persian)

Tajarloo, A., Ansari, M., Divandari, A., & Keimasi, M. (2022). Designing a Framework of New Product Development for Digital Banking: A Case study of Bank Mellat. Industrial Management Journal, 13(4), 559-579. doi: 10.22059/imj.2022.334341.1007892. (In Persian)

Yan, W., Xiong, Y., Gu, A., Lu, L., Zhang, X. (2023), Digital technology and enterprise knowledge management: literature review and theoretical framework construction. ASIA PACIFIC BUSINESS REVIEW. https://doi.org/10.1080/13602381.2023.2197394© 2023 Informa UK Limited, trading as Taylor & Francis Group.