School of Management and Entrepreneurship

2024, Shweta Kakhtan, Kapoor, Anuj Pal

Marketing to the consumer senses is called sensory marketing. Notably, there has been a swell of interest in sensory marketing pertaining to (a) the role of senses in curating multisensory experiences for consumers, and (b) the recent sensory enabling technological advancements such as AR/VR and GenAI. The present chapter discusses the emergence, evolution, and emerging perspectives in the field. Specifically, the authors have found that the field of sensory marketing is derived from the hedonic consumption concept and emotional aspects of consumption. In addition, a sensory marketing mix has been constructed to delineate the working of senses in marketing. The study found that multisensory experiences form the core of buyer behavior in sensory marketing. Further, future research insights using sensory neuromarketing tools such as eye-tracking, EEG, GSR, and fMRI may be effective in growing the field. Lastly, the authors discuss the emerging perspectives and future directions for new marketing realities.

2024, Mohammad Razib Hossain, Dash, Devi Prasad, Narasingha Das, Ehsan Ullah, Md. Emran Hossain

Despite having multidimensional positive externalities of renewable energy (RE) in theory, the literature on RE's economic and environmental determinants is still very nascent. We have addressed this research gap by considering a balanced panel of 38 OECD nations attempting a phase-by-phase energy transition. We have used data spanning from 2000 to 2020 and deployed the novel method of moments quantile regression (MMQR) approach. Our results unveil that economic complexity reduces the consumption of renewable energy among the OECD nations, indicating that as the export becomes diversified, energy consumption at the production level becomes more dependent on non-renewable sources. This further suggests that OECD nations are yet to meet their renewable energy generation threshold. Moreover, energy efficiency fosters the consumption of renewable energy, substantiating that energy efficiency and renewable energy share complementary co-movement among the OECD nations. Furthermore, we unravel that environmental technology and natural resource rent have heterogeneous effects on renewable energy consumption in OECD. For instance, environmental technology only boosts RE consumption at the higher quantiles (70th to 95th), whereas revenue from natural resource rent curbs RE consumption. Our conclusions hold after a series of robustness checks. Overall, we propose that OECD nations should only export those products with absolute comparative advantage to reduce excessive dependence on fossils. Additionally, investment in renewable energy technology development should be escalated to ensure energy efficiency in the long-term.

2024, Jangam, Bhushan Praveen, Hari Venkatesh, Aviral Kumar Tiwari

This research examines the impact of trade related to global value chains (GVCs) and the COVID-19 pandemic on economic growth. To achieve this, we analyse a panel of 60 countries spanning from 2007 to 2021. Various models are estimated using the system generalized method of moments technique. The primary findings are as follows: Firstly, GVC trade is identified as a positive and beneficial factor influencing economic growth. Secondly, the interaction between COVID and GVCs reveals that GVCs continue to have a positive impact on economic growth even during the pandemic. Lastly, consistent and comparable results are observed across different GVC components, sectors and country groups. These outcomes provide valuable insights for policymakers, emphasizing the importance of GVC trade in fostering economic growth.

2023, Raveena Gupta, Harsh Verma, Kapoor, Anuj Pal

Political choice has huge importance, either expressed in the balloting place or in the exit poll, in bringing a political party to power and thus impacting the economy and society's welfare. Research in leadership and decision-making suggests that the physical characteristics and traits of an individual influence the consumer's trustworthiness. Despite being a less explored research area, studying the impact of specific verbal and non-verbal cues of a political leader through a technological lens, such as eye-tracking has been sparsely talked about. Three sets of experiments were conducted to study voters' visual attention and reactions to gage their willingness to vote. First, an eye-tracking tool was used to record the visual attention and regions of interest (ROI) of voters. Subsequently, a short survey was used to analyze the “willingness to vote”, followed by a pilot study on their attention to non-verbal cues from the candidate. Also, a sentiment analysis of the voters was gathered from social media platforms. The present study analyzed the non-verbal aspects of a political leader with regard to voting intention and found that even a few of the non-verbal cues have an influence on the willingness to vote for a candidate. The findings contribute to the literature of neuro-politics and decision-making by analyzing voters' experiences of two political leaders, Narendra Modi (NaMo) and Rahul Gandhi (RaGa) based on non-verbal cues. Political parties and candidates should focus on non-verbal cues to increase their chances of winning elections. In addition, practitioners from the industry should incorporate appropriate non-verbal cues while designing ad campaigns, personal branding, PR campaigns, and CEO addresses.

2023, Narayan Sethi, Purna Chandra Padhan, Dash, Devi Prasad

The notion that external financial assistance and foreign capital inflows impacting economic growth remain prevalent across development literature. We explore this relationship in the context of 16 emerging Asian economies by incorporating several macroeconomic parameters like inflation rate, domestic investment, and exchange rate. We employ the estimation techniques like FE-GLS and GMM (generalized method of moments) methods. Our results reveal that foreign aid complements FDI (foreign direct investment) and enhances economic growth. The combined effects of both aid and FDI on growth is positive and statistically significant. We then provide the evidences of positive association of financial development, trade openness, domestic investment, and inflation to economic growth. This overall state that economies must retrospect the aid scenario by harnessing positive effects and try to be self-reliant by augmenting the domestic investment, institutions, and attracting more capital inflows over the year.

2024, Kapoor, Anuj Pal, Raveena Gupta, Harsh Verma

Multi-Sensory experience explores the dynamic interplay of various sensory modalities in shaping human perception. The present work delves into the richness and complexity of multisensory integration, investigating how the brain synthesizes inputs from the five senses to construct a cohesive perceptual reality. It examines the role of multisensory experiences in enhancing cognitive processes, emotional responses, and behavioral outcomes. Understanding the mechanisms underlying multisensory perception is crucial for diverse fields, including neuroscience, psychology, design, marketing, and education. The present chapter underscores the significance of multisensory experiences in shaping human experiences and highlights avenues for further research and application in creating more engaging and impactful environments and interventions. By elucidating the basic building blocks of multisensory experience, the study contributes to a deeper comprehension of human perception, offering insights with far-reaching implications for fields ranging from neuroscience and psychology.

2024, Sandeep Kumar Singh, Singh, Amit, Mamata Jenamani, Nripendra P. Rana

Purpose: As an emerging technology, Radio Frequency IDentification (RFID) and blockchain have the potential to disrupt many areas of business and social structure. However, it is loaded with significant technical, social, legal, financial and ethical complications that bring difficulty in its widespread use within the public distribution system (PDS). This research aims to analyze the barriers to integrated RFID and blockchain adoption in developing countries' PDS. Furthermore, this study also aims to validate the proposed framework against the Indian PDS. Design/methodology/approach: The proposed framework consists of 10 potential barriers to integrated RFID and blockchain adoption. To identify the barriers, this study referred to the extant literature followed by consultations with domain experts. This study prepared the DEMATEL-based questionnaires, collected the data from four domain experts and analyzed them using an integrated Grey-DEMATEL approach. Findings: The obtained results provide a precise list of barriers and the correlations among them. From the results, it is concluded that the unavailability of a skilled workforce at affordable cost, lack of knowledge about privacy level and unclear return on investment and benefits are the most critical blockchain adoption barriers in the context of Indian PDS. Originality/value: This research proposes a framework consisting of 10 integrated RFID and blockchain adoption barriers in relation to Indian PDS. It also proposes a method for analyzing causal interrelationships between the barriers while allowing for data input from domain experts. Consequently, the framework is capable of coping with experts' biases and data scarcity.

2024, Raveena Gupta, Kapoor, Anuj Pal, Harsh Vardhan Sharma

Although neuromarketing presents marketers with great potential to gain insight into the neurological mechanisms that influence customer choices, it also brings up important ethical questions because it paves the way for unbridled manipulation of customers by providing unparalleled access to their mind. Thus, it is critical to discuss multi-facets of neuromarketing pertaining to its potential and limitations. This chapter delves into the challenges pertaining to policy implementation, limitations, and potential benefits of neuromarketing on individuals and society.

2024, Priyanka Bhati, Saxena, Deepak Kumar

Most sectors use ERP systems to automate business processes, improving the overall efficiency and effectiveness of the organizations. Notwithstanding the benefits, they are highly complex systems requiring careful planning for successful implementation. The education sector has adopted ERP to improve administrative operations and academic performance. This chapter explores the key success factors of ERP in schools. Drawing more insights from the adjacent literature on higher education institutes and small and medium-sized enterprises, important factors aligning with ERP in schools are top management support, training, customization, business process reengineering, change management strategy, module business fit, etc. This chapter ends with a suggested future direction for ERP implementation research in schools.

2024, saini, Seema, Wasim Ahmad, Gazi Salah Uddin

According to the Schumpeterian cleansing hypothesis, economic downturns force inefficient firms off the market, freeing resources that can be allocated to more efficient firms. India, as an emerging economy, may experience a similar reallocation. The study uses micro-level data for publicly traded firms, including manufacturing and services sector firms, from 1988 to 2020. We find that reallocation is productivity-enhancing in general, i.e., credit moves from firms with low productivity to firms with high productivity, and normal economic downturns induce this efficiency-enhancing reallocation. We also observe that reallocation is less efficiency-enhancing during the Indian financial crisis, and constraints on productive firms could be one of the potential explanations for the lack of a cleansing effect.