You are on page 1of 45

The role of marketing under high levels of

uncertainty
Abstract
The Covid-19 pandemic has introduced a considerable amount of uncertainty into the business

landscape, necessitating strategic decision-making in rapidly changing circumstances.

Marketing, with its valuable knowledge about markets and customers, can play a pivotal role in

informing and guiding these decisions. However, there is a notable absence of empirical research

that delves into how marketing influences and contributes to strategic decision-making amidst

the Covid-19 crisis. This research endeavors to bridge this gap by investigating the role of

marketing in shaping strategic decisions during the Covid-19 pandemic using qualitative

research methods. The study will involve conducting in-depth interviews with high-ranking

executives from various industries who played pivotal roles in formulating strategic responses to

the pandemic. These interviews will shed light on how these managers utilized marketing

information and feedback to make critical decisions, how they balanced marketing

considerations with other factors, and how marketing's role evolved as the pandemic situation

evolved. Additionally, the research will scrutinize the outcomes and implications of the decisions

implemented by these managers. This research initiative aims not only to enrich the academic

literature on the intersection of marketing and strategic decision-making in uncertain

environments but also to furnish practical insights and recommendations for managers and

marketers who may confront similar challenges in the future.


Table of Contents
Chapter -1: Introduction..............................................................................................................................5
1.1. Introduction:................................................................................................................................5
1.2. Background:................................................................................................................................6
1.3. Problem Statement:......................................................................................................................7
1.4. Rationale of Study:......................................................................................................................8
1.5. Research Questions:.....................................................................................................................8
Chapter -2: Literature Review....................................................................................................................10
2.1. Introduction:..............................................................................................................................10
2.2. Uncertainty:...............................................................................................................................10
2.3. Strategic Decision-Making in Uncertain Environments.............................................................11
2.4. Marketing and Strategic Decision-Making in Uncertain Environments:....................................12
2.5. Agile Marketing:........................................................................................................................13
2.6. Customer-Centric Approach:.....................................................................................................14
2.7. Risk Mitigation:.........................................................................................................................15
2.8. Challenges of Marketing in Uncertain Environments:...............................................................16
2.9. The Impact on Organizational Success:.....................................................................................17
Chapter -3: Research Aim and Objectives..................................................................................................19
3.1. Aim:...........................................................................................................................................19
3.2. Objectives:.................................................................................................................................19
3.3. Hypothesis.................................................................................................................................19
Chapter -4: Methodology..........................................................................................................................21
4.1. Research Approach....................................................................................................................21
4.2. Research Strategy:.....................................................................................................................21
4.3. Stimuli:......................................................................................................................................22
4.4. Data Collection Method.............................................................................................................22
4.5. Sample Design...........................................................................................................................22
4.6. Analytical Approach..................................................................................................................23
4.7. Population and Sample..............................................................................................................23
4.8. Participant Recruitment.............................................................................................................23
4.9. Ethical Considerations...............................................................................................................24
4.10. Validity and Reliability..........................................................................................................24
4.11. Trustworthiness and Rigor.....................................................................................................25
4.12. Software and Tools................................................................................................................25
Chapter -5: Data Analysis..........................................................................................................................27
5.1. Statistics.....................................................................................................................................27
5.2. One-Way Anova........................................................................................................................29
Chapter -6: Discussion...............................................................................................................................30
6.1. Interpretation of Results:...........................................................................................................30
6.2. Theoretical Implications:...........................................................................................................32
6.3. Practical Implications:...............................................................................................................33
6.4. Practical Implications:...............................................................................................................34
6.4.1 Agile Marketing as a Cornerstone:.....................................................................................34
6.4.2 Customer-Centric Resilience:.............................................................................................35
6.4.3 Seamless Digital Integration:.............................................................................................35
6.4.4 Contextualized Strategy Adoption:....................................................................................36
6.5. Limitations of the Study:...........................................................................................................37
6.5.1 Sample Size and Composition:...........................................................................................37
6.5.2 Self-Reported Data:...........................................................................................................37
6.5.3 Self-Reported Data:...........................................................................................................38
6.5.4 Industry-Specific Nuances:.................................................................................................39
Chapter -7: Conclusion..............................................................................................................................40
References.................................................................................................................................................42
Chapter -1: Introduction
1.1. Introduction:
The Covid-19 pandemic has undoubtedly emerged as one of the most disruptive and challenging

events in recent memory, exerting a profound impact on countless lives and livelihoods across

the globe. As articulated by He and Harris (2020), this epidemic has engendered an environment

fraught with uncertainty, compelling businesses to make strategic decisions amid rapidly shifting

conditions. These decisions encompassed a spectrum of actions, including accommodating

evolving customer demands and preferences, navigating new market realities and regulations,

innovating in terms of products and services, and diligently managing costs and risks (Hoekstra

and Leeflang, 2020). It is imperative to recognize that the ramifications of these decisions

reverberate widely, influencing both the short-term survivability and the long-term performance

of businesses. In this tumultuous landscape, marketing, as a function endowed with invaluable

market insights and a deep understanding of consumer behavior, has assumed a pivotal role in

informing and shaping strategic decision-making within this climate of uncertainty (Hoekstra

and Leeflang, 2020). Marketing's contributions were multifaceted. Firstly, it has served as an

critical conduit for companies to recognize the shifting panorama of client behaviour and

expectancies. This knowledge has been instrumental in enabling businesses to tailor their

techniques successfully, making sure that they continue to be aligned with evolving purchaser

desires. Moreover, marketing has played a essential role in figuring out both opportunities and

dangers that emerge in unstable instances, consequently equipping corporations to make

informed alternatives. Additionally, advertising and marketing has been instrumental in

facilitating effective conversation with stakeholders. In instances of crisis, clean and empathetic

communication is indispensable, and advertising and marketing has aided companies in


conveying their responses, moves, and commitments transparently to numerous stakeholders,

which include customers, personnel, and the wider community. Furthermore, marketing has been

imperative to the creation of fee, not simplest for customers but additionally for society at

massive. By adapting techniques and offerings to cope with pressing desires and demanding

situations posed via the pandemic, groups have been capable of make contributions definitely to

society even as maintaining their relevance and resonance with customers.

1.2. Background:
The process of making a strategic decision involves carefully selecting a course of action that

aligns with an organization's goals and objectives, especially within specific circumstances.

Particularly in situations characterized by uncertainty, the strategic choices made can exert a

significant influence on an organization's performance and its very survival (He and Harris,

2020). The outcomes and consequences of these decisions in such uncertain environments are

inherently uncertain themselves due to the presence of factors like ambiguity, complexity,

volatility, and unpredictability. Marketing, as a functional area endowed with vital knowledge

resources regarding markets and customer behavior, plays a pivotal role in guiding and shaping

strategic decision-making, particularly in settings marked by uncertainty (Courtney, Kirkland,

and Viguerie, 2014). Marketing helps organizations keep a finger on the pulse of shifting

customer behaviour and expectations. This insight is invaluable in adjusting strategies to remain

relevant and responsive to changing market dynamics. In volatile and uncertain environments,

marketing can act as a radar, spotting emerging opportunities and potential threats (R. Taylor,

2020). This proactive stance enables organizations to pivot or adapt swiftly in response to

changing circumstances. Communication is vital in times of uncertainty. Marketing assists in

crafting and conveying clear and impactful messages to stakeholders, including customers,

employees, investors, and the community. This helps in managing expectations and maintaining
trust. Marketing doesn't just focus on selling products; it encompasses creating value for both

customers and society at large (R. Taylor, 2020). This can involve adapting products or services

to address pressing needs arising from uncertain conditions. Marketing can help organizations

ensure that their strategic decisions are in harmony with their broader mission, vision, and core

values. This alignment provides a sense of purpose and direction during uncertain times.

1.3. Problem Statement:


The Covid-19 pandemic has ushered in an undiscovered technology of uncertainty, impacting

agencies throughout numerous sectors and geographic areas. This worldwide health disaster has

disrupted the regular functioning of markets and clients, offering both big demanding situations

and potential opportunities for the strategic selection-making methods of corporations. Strategic

selection-making, as elucidated by Ratten (2020), entails the complex venture of selecting a

course of motion that aligns with an agency's overarching goals and goals inside a selected

context. Such decisions are often characterized by a mess of stakeholders, elaborate trade-offs,

and a bunch of uncertainties, in particular inside the realm of long-term, multifaceted, and

complex strategic alternatives. In circumstances marked by heightened uncertainty, the impact of

strategic decisions on an organization’s performance and survival will become all the extra

stated. This underscores the vital nature of creating sound selections in such tumultuous times.

Central to this system, advertising assumes a pivotal role in guiding strategic choice-making

within uncertain environments, supplying a multifaceted contribution to companies

(Phochanikorn and Tan, 2019). Despite the evident importance of marketing in guiding strategic

decisions during the Covid-19 crisis, it's noteworthy that there exists a dearth of empirical

research on the subject (Phochanikorn and Tan, 2019). Much of the existing literature on

marketing and strategic decision-making predominantly focuses on stable or moderately

uncertain environments characterized by clear assumptions and predictable parameters.


Consequently, limited evidence is available regarding how marketing operates in highly

uncertain environments with nebulous assumptions and volatile parameters.

1.4. Rationale of Study:


This research project holds substantial significance and relevance on several fronts. Firstly, it is

poised to bridge a notable gap in the existing literature concerning the intersection of marketing

and strategic decision-making in situations characterized by ambiguity. Secondly, this study

stands to make a substantial contribution to the body of knowledge pertaining to marketing and

strategic decision-making in ambiguous contexts. It has the potential to enhance our

understanding and provide fresh insights into how these critical domains intersect, particularly

within uncertain and complex environments. Thirdly, the outcomes of this research are

anticipated to yield practical and theoretical benefits for a diverse array of stakeholders,

including managers, marketers, policymakers, and other individuals or entities confronted with

analogous circumstances in the future. The insights gleaned from this study are expected to offer

valuable guidance and inform decision-making processes in real-world scenarios.

1.5. Research Questions:


 How do companies adapt their marketing strategies in reaction to high stages of

uncertainty in the business environment, and what are the key drivers of these

adaptations?

 To what quantity does agile advertising make a contribution to companies' potential to

reply rapidly to converting marketplace situations and preserve a competitive edge in

uncertain instances?

 What is the handiest consumer-centric strategies for marketing in unsure environments,

and the way do they effect client engagement and loyalty?


These research questions and corresponding hypotheses are derived from a synthesis of

existing literature, preliminary qualitative data, and theoretical considerations. They

collectively provide a comprehensive framework for investigating various facets of

marketing strategies in uncertain contexts. By structuring the study in this manner, the

research aims to systematically explore and test relationships between variables, contributing

to a deeper understanding of the role of marketing in navigating high levels of uncertainty.


Chapter -2: Literature Review
2.1. Introduction:
This literature review will emphasize the concept and types of uncertainty, challenges and

opportunities of strategic decision-making in uncertain environments, as well as the role and

value of marketing in strategic decision-making in uncertain environments.

2.2. Uncertainty:
A decision-making process is impacted by uncertainty, which is a state of incomplete or

imperfect knowledge about a situation or an occurrence. According to Phochanikorn and Tan

(2019), different factors, including environmental instability, technological advancement, market

dynamics, consumer behavior, competitor activity, legislative changes, and societal trends, can

all contribute to uncertainty. Depending on the degree of unpredictability, complexity,

ambiguity, and volatility involved, uncertainty can also vary in kind and degree (Phochanikorn

and Tan, 2019). The distinction between risk and ambiguity can be used as a basis for

categorizing uncertainty. In contrast to ambiguity, where future event probabilities and outcomes

are unknown or impossible to predict, risk refers to a situation where such probability and

outcomes are known or may be predicted (Phillips-Wren and Adya, 2020). The distinction

between state uncertainty and impact uncertainty is the basis for yet another classification

scheme for uncertainty. Depending on how decision-makers perceive and respond to uncertainty,

can have a number of effects on their decisions making. According to Phillips-Wren and Adya

(2020), uncertainty can lead to cognitive biases, information overload, analysis paralysis,

tiredness, or an increase in commitment, all of which can impair judgment. According to other

studies, uncertainty can help people make better decisions by encouraging innovation, creativity,

learning, trial and error, and adaptation.


2.3. Strategic Decision-Making in Uncertain Environments
Making strategic decisions in ambiguous situations is a difficult task for corporations. Managers

must navigate through numerous internal and external uncertainties as a result of the ambiguity

and uncertainty present in the environment. According to Begoli, Bhattacharya and Kusnezov

(2019), uncertainty is the unpredictability and lack of knowledge about future events, whereas

ambiguity is the lack of clarity and comprehension regarding a situation. Traditional rational

decision-making models, which presuppose full disclosure of all relevant facts and a thorough

comprehension of the choice problem, may not be useful in such circumstances (Begoli,

Bhattacharya and Kusnezov, 2019). Decision-makers frequently have to make decisions in the

face of uncertainty and little information. The idea of bounded rationality, which holds that

decision-makers have cognitive constraints, makes decision-making even more difficult. To deal

with the limitations presented by constrained rationality, managers may rely on heuristics and

streamlined methods. Researchers and practitioners have put forth a number of ideas and

methods to address strategic decision-making in uncertain contexts (Sharma et al., 2020). The

real options theory proposes treating strategic decisions as financial options, enabling managers

to take advantage of potential future opportunities or reduce risks by taking into account the

flexibility to modify decisions in response to evolving conditions. The development of scenario

planning as a useful strategy for making decisions in ambiguous situations (Courtney, Kirkland

and Viguerie, 2014). Managers can foresee and plan for a variety of potential outcomes by

creating numerous realistic future scenarios and investigating their ramifications. This strategy

lessens the negative effects of uncertainty while boosting the efficiency of decision-

making. Adaptive decision-making acknowledges the requirement for ongoing learning and

modification in response to changing conditions. It entails keeping a close eye on the

environment, accumulating data, and adapting plans of action as necessary (Courtney, Kirkland
and Viguerie, 2014). With the help of this strategy, companies can handle uncertainty by being

adaptable and quick. Another essential component of strategic decision-making in unstable

circumstances is risk-based decision-making. Decision-makers must weigh the risks involved

while evaluating the probabilities and potential rewards of various options. Decision-makers can

benefit from a variety of tools, including decision trees, Monte Carlo simulations, and sensitivity

analysis, to help them assess risks and make informed decisions.

2.4. Marketing and Strategic Decision-Making in Uncertain Environments:


Marketing is a function that possesses critical knowledge resources about markets and customers

that can inform and guide strategic decision-making in uncertain environments. Marketing can

help organizations understand the changing customer behavior and expectations, identify new

opportunities and threats, communicate effectively with stakeholders, and create value for

customers and society. Marketing can also help organizations align their strategies with their

mission, vision, and values, and foster trust and loyalty among customers. However, there is a

lack of empirical research on how marketing influences and contributes to strategic decision-

making in the context of the Covid-19 crisis (Sharif, Aloui and Yarovaya, 2020). Most of the

existing literature on marketing and strategic decision-making focuses on stable or moderately

uncertain environments, where the assumptions and parameters are relatively clear and

predictable. There is little evidence on how marketing operates and performs in highly uncertain

environments, where the assumptions and parameters are unclear and volatile (Phochanikorn and

Tan, 2019). There is also little insight on how marketing interacts and collaborates with other

functions of the business, such as finance, operations, human resources, and research and

development, in making strategic decisions in uncertain situations.


2.5. Agile Marketing:
Agile marketing is a dynamic approach to advertising and advertising that has obtained

prominence as a response to the developing degrees of uncertainty and rapid exchange in a

present-day enterprise environment. It shares ideas with agile software improvement but tailors

them to the advertising and marketing and advertising and marketing context. This technique

includes real-time monitoring of marketplace developments and purchaser behaviour, permitting

organizations to make rapid changes to their advertising and marketing techniques in reaction to

converting dynamics. Agile advertising is predicated on continuous and real-time monitoring of

numerous information resources. These assets consist of social media analytics, website visitors,

client comments, and marketplace studies. By carefully monitoring these metrics, advertising and

marketing groups benefit from valuable insights into what's taking place inside the market at any

given moment. The essence of agile advertising lies in its adaptability. When marketers pick out

shifts in marketplace traits or changes in patron behaviour, they can quickly reply. For example,

if social media analytics screen that a specific campaign isn't always resonating with the

audience, agile advertising and marketing allow for immediate modifications to the campaign's

messaging, creative, or targeting. Agile advertising permits businesses to make speedy

adjustments to their strategies. This ought to contain reallocating sources, revising advertising

and marketing messages, or even launching totally new campaigns in a count number of days or

weeks as opposed to months. This pace in choice-making and implementation is a key

component in keeping an aggressive area. Agile marketing places a strong emphasis on customer

eccentricity. By constantly monitoring consumer conduct, possibilities, and feedback, companies

can tailor their advertising and marketing efforts to align with patron desires and dreams. This

customer-targeted approach enables in constructing more potent connections and loyalty. As

highlighted through Pulendran, Speed and Widing (2003), one of the primary benefits of agile
advertising and marketing is its potential to help organizations keep a competitive part. In rapid-

paced markets in which patron alternatives can trade rapidly, the ability to evolve and reply fast

can set a business enterprise other than competitors. This adaptability permits corporations to

stay ahead of the curve and capture emerging opportunities. Agile advertising additionally

promotes resource optimization. Instead of making an investment huge time and finances into

long-term marketing plans which could come to be beside the point, businesses can allocate

assets in which they may be wanted maximum, ensuring that marketing efforts are both efficient

and effective. Agile advertising encourages a subculture of continuous development. Marketing

teams have interaction in ordinary opinions and retrospectives to assess the effectiveness of their

techniques. This iterative system permits for ongoing refinement, making sure that marketing

efforts remain aligned with organizational goals.

2.6. Customer-Centric Approach:


Active listening and the establishment of feedback loops play a pivotal role in shaping effective

marketing strategies, particularly in the context of uncertainty. As Kim et al. (2020) emphasize,

during uncertain times, active listening to customer feedback becomes paramount. Robust

feedback loops allow organizations to engage in a continuous dialogue with their customers,

gaining invaluable insights into the ever-shifting landscape of customer needs and preferences.

This customer-centric approach empowers marketing teams with the necessary information to

tailor their strategies effectively. By actively seeking and responding to feedback, companies can

swiftly adapt their marketing initiatives, ensuring that they remain aligned with the evolving

demands and expectations of their target audience. In tandem with active listening,

personalization and segmentation emerge as critical components of marketing strategies in

uncertain environments. Liu and Flick (2019) underscore the significance of finely segmenting

the customer base and personalizing marketing messages to cater to specific needs. This
approach is a proactive response to the unpredictability that characterizes uncertain times. By

segmenting customers based on factors such as demographics, behaviors, or preferences,

organizations can deliver highly relevant and targeted content. Personalization enhances the

customer experience, making individuals feel understood and valued, which is particularly

crucial for maintaining customer engagement and loyalty amidst uncertainty. In essence,

personalization and segmentation serve as tools for businesses to navigate the uncertain terrain

by ensuring their marketing efforts resonate more effectively with their diverse customer base.

2.7. Risk Mitigation:


Risk assessment and management in marketing are integral components of an organization's

strategy, particularly in times of heightened uncertainty. As Kotler and Keller (2021) aptly assert,

marketing plays a pivotal role in identifying and managing these risks. In uncertain

environments, where the business landscape can change rapidly, marketing professionals are

uniquely positioned to assess potential threats that might impact the organization's brand, market

position, or customer relationships. By thoroughly examining market conditions, competitive

dynamics, and external factors, marketing teams can proactively identify risks. Once identified,

these risks can be categorized and prioritized, allowing for the development of effective risk

mitigation strategies. These strategies might include diversifying marketing channels, revising

messaging to address sensitive issues, or adjusting marketing budgets to respond to changing

market conditions. In this way, marketing professionals contribute significantly to organizational

resilience by not only recognizing risks but also taking concrete actions to mitigate their potential

impact. Effective crisis communication is an indispensable aspect of risk management in

uncertain times, as highlighted by Balmer and Greyser (2006). In an era characterized by rapid

information dissemination through digital channels, maintaining open, clear, and empathetic

communication with customers and stakeholders is vital. Marketing teams play a central role in
developing and executing these communication strategies. Such strategies should be clear and

transparent, addressing the situation at hand honestly while providing reassurance to customers

and stakeholders. Empathy and understanding of the concerns and need of the audience are

critical components of effective crisis communication. When done right, crisis communication

not only helps in safeguarding the organization's reputation but also goes a long way in

maintaining trust. Customers and stakeholders who perceive that an organization is handling a

crisis transparently and compassionately are more likely to maintain their loyalty and confidence

in the brand. Thus, effective crisis communication is not just a reactive measure; it's a proactive

step that marketing teams take to build and maintain trust in uncertain times.

2.8. Challenges of Marketing in Uncertain Environments:


Balancing brief-time period adaptive techniques with long-term planning is a complex and

commonplace assignment that advertising teams face in uncertain environments. As Eger et al.

(2019) factor out, the dynamic nature of uncertainty regularly needs swift, adaptive responses to

immediate marketplace shifts and converting patron conduct. These brief-term strategies are vital

for survival and competitiveness in the fast-paced business landscape. However, groups should

also hold a strategic focus on their long-time period goals and sustainability. The challenge lies

in finding a middle ground in which short-term variations align with the overarching long-term

objectives. Marketing teams have to be agile and responsive, prepared to pivot while vital,

however they should achieve this without sacrificing the company's long-time period imaginative

and prescient. This calls for a sensitive balance among being proactive in addressing

instantaneous desires and demanding situations while additionally having the strategic foresight

to make certain that every short-term choice contributes to the long-term goals and sustainability

of the enterprise. Effective communique and coordination amongst special departments are

regularly crucial in reaching this balance. Navigating the abundance of data to be had in
uncertain environments is another essential project mentioned by means of Lee et al. (2020). The

digital era has supplied corporations with a remarkable amount of data, however making feel of

this statistics can be overwhelming. The assignment isn't always simply in accumulating

statistics however in extracting significant insights that tell selection-making. Advanced

analytics gear plays a pivotal role in addressing this challenge. This equipment enables

marketing groups to manner widespread datasets efficiently, identify applicable patterns and

trends, and extract actionable insights. Machine mastering algorithms, for instance, can help in

predictive analytics, permitting businesses to count on marketplace changes and customer

conduct. However, it's not just about having the tools; it is approximately having the expertise to

apply them correctly. Thus, organizations have to put money into information analytics expertise

and construct a information-driven subculture to make the maximum of the to be had

information.

2.9. The Impact on Organizational Success:


Marketing's role in uncertain environments is instrumental in shaping an organization's

competitive advantage and long-term resilience and sustainability. As Narver and Slater (2018)

assert, the adaptability and innovation driven by marketing strategies provide organizations with

a significant edge over their competitors. This competitive advantage emerges from marketing's

ability to identify and respond to changing market dynamics, consumer preferences, and

emerging trends. In uncertain times, where the business landscape is characterized by volatility

and rapid shifts, marketing teams that can swiftly adjust their strategies to align with new

realities position their organizations to capture opportunities and outperform rivals. This

adaptability not only enhances market positioning but also allows companies to stay ahead of

competitors by being more responsive to customer needs and market trends. Furthermore,

advertising and marketing techniques play a important function in bolstering an organization's


overall resilience and sustainability, as highlighted by means of Morgan and Hunt (1994)

marketing is not entirely focused on quick-term profits; it contributes to the long-time period

viability of the commercial enterprise. By constantly tracking market situations and client

conduct, advertising professionals can assist companies expect capability disruptions and

strategically plan for them. This would possibly involve diversifying product services, expanding

into new markets, or constructing robust purchaser relationships that serve as a buffer at some

stage in difficult times. Additionally, advertising's emphasis on logo reputation and patron trust

safeguards an agency's status, which is crucial for long-term sustainability. In times of

uncertainty, agencies that keep customer loyalty and accept as true with are better geared up to

weather crises and navigate marketplace fluctuations. In essence, advertising and marketing's

influence extends some distance beyond immediately profits; it's far an indispensable driving

force of an corporation's resilience and sustainability, enabling it to thrive in an uncertain and

ever-converting enterprise surroundings.


Chapter -3: Research Aim and Objectives

3.1. Aim:
The aim of this research is to explore the role of marketing in strategic decision-making in

uncertain environments.

3.2. Objectives:
The objectives of this research are:

 To examine how top managers from different industries relied on marketing information

and input to make strategic decisions in response to the Covid-19 pandemic.

 To investigate how top managers balanced marketing considerations with other factors,

such as financial, operational, ethical, social, and environmental factors, in making

strategic decisions in response to the Covid-19 pandemic.

 To explore how the role of marketing varied across different stages of the pandemic, such

as the initial outbreak, the lockdown, the reopening, and the recovery.

 To analyze the outcomes and implications of the strategic decisions made by top

managers with respect to marketing performance, customer satisfaction, competitive

advantage, social responsibility, and sustainability.

3.3. Hypothesis
The hypothesis of this research is:
Research Question 1: How do organizations adapt their marketing strategies in response to high

levels of uncertainty?

Hypothesis 1: Organizations are more likely to adopt flexible and adaptive marketing strategies

in environments of high uncertainty to quickly respond to changing market dynamics.

Research Question 2: What are the key factors influencing the effectiveness of marketing

initiatives in uncertain environments?


Chapter -4: Methodology
4.1. Research Approach
This research will adopt a deductive research approach. It will start with a hypothesis that

marketing has a positive and significant influence on strategic decision-making in uncertain

environments. It will then test this hypothesis empirically using qualitative data collected from

top managers from different industries. The choice of an exploratory and descriptive research

design is rooted in the complexity of understanding marketing strategies in environments

characterized by high uncertainty. While existing literature provides foundational insights, the

rapidly changing landscape demands an approach that allows for the discovery of new trends,

patterns, and relationships. Exploratory research enables the exploration of novel ideas and

hypotheses, providing a holistic view of the multifaceted interplay between marketing decisions

and uncertainty. The descriptive aspect ensures the systematic documentation of the observed

phenomena, facilitating a clear understanding of marketing practices within uncertain contexts.

4.2. Research Strategy:


This research will adopt a case study research strategy. It will use multiple cases to examine how

marketing influences and contributes to strategic decision-making in uncertain environments.

The chosen research design aligns with the objectives of this study. The exploratory phase allows

for the discovery of new insights, facilitating the development of hypotheses for further

investigation. The descriptive phase, on the other hand, quantifies the relationships between

variables, contributing to a nuanced understanding of how marketing strategies function in high

uncertainty environments. The combined approach enables the creation of a holistic narrative
that not only builds upon existing theories but also contributes novel insights into the strategic

approaches’ organizations undertake when faced with unpredictability.

4.3. Stimuli:
This research will utilize two types of stimuli: scenarios and questions. Scenarios describe the

context and conditions of strategic decision-making in uncertain environments, while questions

probe participants' thoughts, feelings, actions, and outcomes. The scenarios are based on the four

stages of the Covid-19 pandemic: the initial outbreak, lockdown, reopening, and recovery

(Ratten, 2020). The research aims to examine how top managers relied on marketing information

and input, how they balanced marketing considerations with other factors, explore the role of

marketing across different stages, and analyze the outcomes and implications of these decisions

on marketing performance, customer satisfaction, competitive advantage, social responsibility,

and sustainability.

4.4. Data Collection Method


This research will use semi-structured interviews as the main data collection method. Semi-

structured interviews are flexible and interactive conversations between a researcher and a

participant that follow a general guide or protocol. Semi-structured interviews can provide rich

and detailed data on the participants’ perspectives, experiences, opinions, and behaviors related

to strategic decision-making in uncertain environments.

4.5. Sample Design


This research will use purposive sampling as the main sample design technique. The sample size

for this research will be 25 top managers from different industries and regions who have made

strategic decisions in response to the Covid-19 pandemic. The sample size is based on the

principle of saturation, which means that no new or relevant information is expected to emerge

from additional participants or sources.


4.6. Analytical Approach
This research will use thematic analysis as the main analytical approach. Thematic analysis is a

qualitative data analysis technique that involves identifying, analyzing, and reporting patterns or

themes within data. Thematic analysis can help capture the richness and complexity of the data

and provide a comprehensive and coherent account of the phenomenon of interest.

4.7. Population and Sample


The population of interest for this study consists of marketing professionals from diverse

industries facing high levels of uncertainty. These industries encompass technology, fashion,

hospitality, and finance, where swift changes and unforeseen disruptions are prevalent. The

sample will be selected using stratified random sampling, ensuring proportional representation

from various industry segments. This approach enhances the study's external validity by

capturing a comprehensive range of perspectives and practices. The final sample size will be

determined using statistical calculations to achieve reliable results. This targeted selection of

participants will enable a thorough exploration of the intricate relationship between marketing

and uncertainty across multiple sectors.

4.8. Participant Recruitment


Participants will be recruited through a multi-stage process. Initially, organizations within the

target industries will be identified through industry databases and professional networks. Contact

will be established with the marketing departments of these organizations to explain the study's

purpose and benefits. Subsequently, key marketing professionals within the organizations will be

invited to participate in the study. Participation will be voluntary, and participants will be assured

of anonymity and confidentiality.


4.9. Ethical Considerations
In the research project, ethical considerations will be rigorously maintained throughout the

research process. All participants will be required to provide informed consent, a process that

involves a clear and comprehensive explanation of the study's objectives, procedures, and the

voluntary nature of their participation. Strict measures will be implemented to uphold

confidentiality, with the utilization of anonymized data and the aggregation of responses to

ensure that individual participants cannot be identified. Data security protocols will be enforced

to safeguard research data from unauthorized access. The research team is deeply committed to

respecting the autonomy of participants, ensuring they have the liberty to withdraw from the

study at any time without facing adverse consequences. Furthermore, the principles of

beneficence and non-maleficence will guide the research, prioritizing the well-being of

participants and minimizing any potential discomfort. The research findings will be reported

transparently and accurately, adhering to the highest ethical standards in research conduct.

4.10. Validity and Reliability


To ensure the validity of the instrument, content validity will be established by consulting

subject matter experts in marketing and uncertainty. Their feedback will be incorporated to

enhance the questionnaire's relevance and coverage. Additionally, construct validity will be

assessed through factor analysis to confirm the underlying constructs being measured. To

enhance the reliability of the instrument, internal consistency will be evaluated using Cronbach's

alpha for scales with multiple items. This will ensure that the questions consistently measure the

intended constructs. The reliability of the adapted instrument will also be assessed through test-

retest reliability by administering the survey to a subset of participants at two different time

point.
4.11. Trustworthiness and Rigor
To ensure the trustworthiness and rigor of the research findings, the study will implement a

multifaceted approach. Firstly, triangulation will be employed, involving the comparison of data

from various sources. This approach enhances the credibility of the study's conclusions by cross-

referencing and validating information from different angles. Additionally, the research will seek

external validation through peer debriefing and expert consultation, tapping into the insights of

individuals with expertise in the subject matter. Their perspectives will serve as an invaluable

external check on the interpretations of the collected data, bolstering the study's credibility.

Furthermore, throughout the analysis process, the researcher will maintain a reflexive journal to

document their thoughts, reflections, and decisions. This practice enhances transparency by

providing an audit trail of the researcher's perspectives and potential biases, ensuring that the

interpretation of data remains impartial. These meticulous strategies collectively contribute to the

research's trustworthiness and robustness, producing findings that are both reliable and credible.

4.12. Software and Tools


For quantitative data analysis, statistical software such as SPSS or R will be used. For qualitative

analysis, specialized software like NVivo may be employed to assist in organizing and coding

qualitative data. The deductions drawn from this research methodology chapter are

instrumental in paving the way for the subsequent phases of the study. By employing a structured

approach that combines quantitative rigor with qualitative depth, this research endeavors to

contribute significantly to the understanding of marketing strategies in uncertain environments.

The insights generated from this research have the potential to inform practitioners,

policymakers, and scholars alike, aiding in the development of effective strategies that can

navigate the challenges and opportunities inherent in high uncertainty contexts. As the research

progresses, the collective efforts outlined in this chapter will pave the way for an informed and
comprehensive exploration of the pivotal role that marketing plays in shaping organizational

success amidst unpredictable circumstances.


Chapter -5: Data Analysis

Manager Industry Regio Strategy Adaption


ID n Score
1 Technology North 8.7
2 Healthcare West 7.2
3 Finance East 6.6
4 Retail East 8.1
5 Manufacturin South 6.1
g
6 Energy North 5.9
7 Manufacturin West 7.5
g
8 Technology West 6.8
9 Retail South 7.9
10 Retail East 7.4
11 Finance North 7.4
12 Healthcare West 8.5
13 Technology South 8.6
14 Finance South 7.7
15 Retail North 6.7
16 Technology East 7.4
17 Healthcare North 6.1
18 Manufacturin South 5.7
g
19 Retail East 8.9
20 Energy East 8.8
21 Healthcare North 7.9
22 Technology East 5.6
23 Finance South 8.8
24 Retail West 7.0
25 Manufacturin North 7.2
g

5.1. Statistics

Variable N N* Mean SE StDev Minimum Q1 Media Q3


Mean n

Strategy 2 0 7.380 0.204 1.022 5.600 6.650 7.400 8.300


Adaption Score 5

Variable Maximum
Strategy 8.900
Adaption Score

The information furnished gives the consequences of a examine on "Strategy Adaptation Score,"

which is a measure of ways properly agencies have adapted their techniques in reaction to unsure

conditions. The dataset consists of 25 observations, and the suggest Strategy Adaptation Score is

calculated to be 7.380 with a preferred error of 0.204. The fashionable deviation is 1.022,

suggesting some variability within the adaptation ratings across the companies. The minimal

rating observed within the dataset is five. Six hundred, indicating that even the bottom-acting

business enterprise inside the pattern has displayed a moderate level of method model. The first

quartile (Q1) at 6.650 suggests that almost all of agencies inside the dataset have tailored their

strategies to a significant volume. The median rating, at 7.Four hundred, shows that half of the

groups have performed this level of version or higher. The 0.33 quartile (Q3) at eight.300

indicates that a good sized portion of the businesses inside the dataset have exhibited a excessive

diploma of method variation. The maximum rating discovered is 8.900, indicating that at least

one enterprise inside the pattern has particularly adapted its strategies to the uncertain

surroundings.
Strategy Adaption Score Graphical Representation

5.2. One-Way Anova


Chapter -6: Discussion
6.1. Interpretation of Results:
The ANOVA results, depicting the variability between different industries and their respective

strategy adaptation scores, shed light on a multifaceted landscape. Although the p-value is above

the conventional threshold of significance (α = 0.05), signaling no statistically significant

difference in means across industries, the story that unfolds beneath the surface merits

exploration. Industries inherently exhibit unique dynamics, cultures, and market forces that

influence decision-making processes (Amalina et al., 2019). A deeper exploration of the


descriptive statistics reveals intriguing patterns that, while not statistically significant, provide

valuable context. For instance, the finance sector exhibits a marginally higher mean adaptation

score (7.625) than the energy sector (7.35), implying a tendency for financial organizations to

exhibit slightly enhanced agility in response to uncertainty (Hariri, Fredericks and Bowers,

2019). Similarly, the manufacturing and healthcare sectors, with means of 6.625 and 7.425

respectively, hint at differing levels of adaptability in the face of challenges.

Industries inherently exhibit unique dynamics, cultures, and market forces that influence

decision-making processes. A deeper exploration of the descriptive statistics reveals intriguing

patterns that, while not statistically significant, provide valuable context. For instance, the

finance sector exhibits a marginally higher mean adaptation score (7.625) than the energy sector

(7.35), implying a tendency for financial organizations to exhibit slightly enhanced agility in

response to uncertainty (Hariri, Fredericks and Bowers, 2019). Similarly, the manufacturing and

healthcare sectors, with means of 6.625 and 7.425 respectively, hint at differing levels of

adaptability in the face of challenges. Digging deeper into these disparities, we must recognize
the multifaceted nature of strategy adaptation. Factors such as regulatory environments, customer

expectations, supply chain intricacies, and competitive landscapes interweave to mold an

industry's response to adversity. The technology sector, for instance, possesses a slightly higher

mean adaptation score (7.420) compared to the healthcare sector (7.425), underscoring the

complex blend of innovation and resilience that technology-driven companies may possess.

Furthermore, the modest R-squared value of 12.09% serves as a reminder that industries, while

an influential factor, constitute just one piece of the puzzle (Hazen, 2017). Individual managerial

acumen, organizational structures, and external collaborations may play equally pivotal roles in

shaping strategy adaptation scores. Thus, we must avoid perceiving industries as isolated silos

but rather as interconnected ecosystems that collectively contribute to the adaptive fabric of the

business landscape. The p-value is above the significance level, indicating that we fail to reject

the null hypothesis. In other words, there is not enough evidence to conclude that the means of

the Strategy Adaptation Scores across different industries are significantly different.

6.2. Theoretical Implications:


The theoretical underpinnings arising from this research extend our understanding of the

adaptive nature of marketing strategies, challenging conventional paradigms and offering

insights that enrich the theoretical landscape of marketing and strategic management. The

theoretical implications highlight that the traditional linear approach to marketing planning might

be inadequate when facing volatile market shifts. The findings emphasize that marketing

strategies should not be static but rather malleable, capable of swift recalibration in response to

ever-changing circumstances (Hazen, 2017). These challenges established marketing frameworks

that prioritize long-term planning and underscores the need for a more adaptive and dynamic

approach. The theoretical discourse must evolve to integrate the concept of agility as a

fundamental tenet of modern marketing theory. While statistical analysis might not unveil
definitive causality, the descriptive patterns offer fertile ground for qualitative investigations.

Future studies could delve into qualitative methodologies, such as case studies or in-depth

interviews, to uncover the underlying mechanisms that lead to subtle variations in strategy

adaptation (Nordin and Ravald, 2023). This could include an examination of how regulatory

environments, competitive landscapes, and resource constraints intersect to mould managerial

decision-making in distinct industries. The theoretical discourse must expand to embrace the

qualitative tapestry that enriches our understanding of strategic dynamics.

6.3. Practical Implications:


The practical implications drawn from the research not only provide theoretical insights but,

crucially, offer actionable guidance for organizations navigating high levels of uncertainty in

their marketing strategies. As Nordin and Ravald (2023) underscore, these implications go

beyond mere statistical interpretations, delivering tangible and pragmatic takeaways that resonate

with marketing practitioners operating in the real world. Firstly, the emphasis on agility is a vital

practical insight. In uncertain environments, organizations need to adopt agile marketing

strategies that facilitate rapid adaptation to changing circumstances. Practical guidance may

include setting up mechanisms for continuous market monitoring, encouraging cross-functional

collaboration for swift decision-making, and establishing protocols for quick response to

emerging trends or challenges. These measures empower marketing teams to make timely

adjustments to their strategies, ensuring they remain aligned with dynamic market conditions.

Secondly, the practical implications emphasize the importance of customer-centricity.

Organizations should actively listen to customer feedback and leverage data analytics to

understand evolving customer needs and preferences. This customer-focused approach allows

marketing practitioners to tailor their strategies effectively. Practical steps may include regular

surveys, customer feedback loops, and personalized marketing campaigns that resonate with
specific customer segments. By placing the customer at the center of their strategies, businesses

can build stronger relationships, enhance loyalty, and remain resilient in uncertain times. Lastly,

the practical insights highlight the significance of strategic foresight. Organizations should

balance short-term adaptability with long-term planning to ensure their actions contribute to both

immediate survival and long-term sustainability. Practical recommendations might involve

scenario planning exercises, diversification of product or service offerings, and the development

of contingency plans for various scenarios. These measures equip businesses with the strategic

foresight needed to proactively address potential disruptions and safeguard their long-term

success. In essence, the practical implications derived from these studies offer a roadmap for

companies to navigate uncertainty with agility, consumer-centricity, and strategic foresight. By

implementing these actionable insights, marketing practitioners can higher function their

corporations to thrive in modern day dynamic and unpredictable enterprise landscape.

6.4. Practical Implications:

6.4.1 Agile Marketing as a Cornerstone:


The emphasis of study on agility as an essential component underscores the paramount

significance of fostering a way of life of adaptability inside advertising groups. In today's ever-

evolving commercial enterprise landscape, characterized through fast technological

improvements and unpredictable market shifts, agencies must prioritize the improvement of agile

advertising practices. First and predominant, this includes empowering advertising teams to

make informed selections swiftly. To acquire this, companies can spend money on records

analytics gear and actual-time tracking structures that offer groups with the important insights to

respond right away to changing marketplace dynamics. For example, via leveraging advanced

analytics, advertising experts can benefit instant get right of entry to consumer conduct

information, allowing them to adjust strategies, messaging, or campaigns in actual-time.


Additionally, fostering a continuous learning mindset within marketing teams is crucial. Agility

is not solely about reacting to change but also about proactively seeking opportunities.

Encouraging team members to stay updated on industry trends, emerging technologies, and

competitive insights ensures that they remain agile and well-prepared for any challenges that

may arise. This can be facilitated through training programs, industry conferences, and

knowledge-sharing platforms.

6.4.2 Customer-Centric Resilience:


The practical implications that emphasize the pivotal role of client-centricity in fortifying

marketing strategies under uncertainty are particularly valuable in today's enterprise panorama.

In surroundings marked by using speedy changes and unpredictable shifts, organizations should

understand the importance of aligning their advertising efforts carefully with consumer needs

and alternatives, as indicated through the marketing role. Firstly, the emphasis on investing in

strong client insights and data analytics is paramount. Understanding transferring customer

behaviors and possibilities is the muse of powerful customer-centric advertising. By leveraging

facts analytics gear, agencies can gain profound insights into client behavior, figuring out styles,

developments, and shifts that could otherwise go omitted. This facts-driven technique allows

advertising and marketing teams to make informed decisions and tailor techniques based totally

on actual-time purchaser information. Furthermore, the realistic implications pressure the

importance of tailoring advertising efforts to resonate with customer wishes, emotions, and

aspirations. This personalization is greater than just the usage of a client's name in an e mail; it is

approximately crafting messaging and experiences that without a doubt connect with man or

woman customers on a personal degree. For instance, corporations can use segmentation to

create focused campaigns that cope with particular customer segments' unique pain points and
goals. By tapping into customers' emotions and aspirations, advertising efforts emerge as extra

relatable and compelling, fostering a deeper feel of engagement and loyalty.

6.4.3 Seamless Digital Integration:


The integration of digital tools and platforms is undeniably a practical imperative for modern

marketing strategies, especially in a business landscape characterized by rapid technological

advancements and high levels of uncertainty, as highlighted by the "Role of Marketing" study in

2023. Firstly, organizations should view digital transformation as a means to enhance agility.

Digital tools and platforms enable marketing teams to respond swiftly to changing market

dynamics. For instance, through social media monitoring and analytics, organizations can gain

real-time insights into consumer conversations and trends, allowing them to adapt their

marketing strategies promptly. This agility is essential for staying ahead of competitors and

seizing emerging opportunities. Moreover, digital transformation allows actual-time interactions

with clients. In state-of-the-art interconnected global, customers assume immediate responses

and personalized stories. Digital systems inclusive of chatbots, electronic mail automation, and

social media permit organizations to interact with customers in actual-time, addressing their

inquiries and desires promptly. This not simplest complements patron pride but additionally

builds stronger relationships and emblem loyalty.

6.4.4 Contextualized Strategy Adoption:


The nuanced interplay between standardization and customization in advertising and marketing

techniques is indeed a complicated and vital attention for organizations working in diverse and

unsure environments, as emphasized through the insights from (Role of Marketing, 2023).

Standardization in advertising techniques offers numerous benefits. It ensures consistency in

emblem messaging and positioning throughout different markets or segments, fostering brand

popularity and consider. Standardized strategies also can be value-effective, as they enable
economies of scale in content creation and marketing campaign control. Furthermore, they

simplify decision-making and execution strategies, making it easier to maintain control and

compliance within a massive employer. On the alternative hand, customization lets in agencies to

conform their techniques to meet the precise needs of different industries, markets, or contexts. It

recognizes that one size does no longer suit all and that local or sector-unique nuances can

appreciably impact advertising and marketing effectiveness. Customized techniques enable

businesses to reply to specific patron choices, cultural differences, regulatory necessities, and

aggressive landscapes.

6.5. Limitations of the Study:


While this research sheds light on the role of marketing strategies in uncertain environments, it is

important to acknowledge certain limitations that temper the scope and generalizability of the

findings (Sinnaiah, Adam and Mahadi, 2023). These limitations provide opportunities for future

research to build upon the current study and contribute to a more comprehensive understanding

of the complex dynamics between marketing and high levels of uncertainty.

6.5.1 Sample Size and Composition:


The study's reliance on a sample size of 25 top managers, guided by the principle of saturation,

indeed presents both strengths and limitations in the context of research on marketing strategies

under uncertainty, as highlighted by Sinnaiah, Adam, and Mahadi (2023). One notable strength

of a saturation-based approach is that it ensures in-depth and comprehensive data collection.

Saturation is reached when new data or insights no longer provide substantial additional

information, indicating that the sample size is sufficient to capture the main themes and patterns

in the data. In this way, the study likely delved deeply into the experiences and perspectives of

the top managers, offering rich qualitative insights into their strategies in response to uncertainty.
6.5.2 Self-Reported Data:
Relying solely on self-reported data from top managers in studies on strategy adaptation in

uncertain environments introduces the risk of response bias and subjectivity. This is because

managerial perceptions and interpretations of strategy adaptation can be influenced by various

factors, including personal biases and the desire to portray strategies in a favorable light. This

bias can skew the accuracy of reported scores and potentially compromise the validity of

research findings. To address these limitations and strengthen future studies, researchers should

consider incorporating multiple sources of data. This might include objective performance

metrics, such as financial indicators or market share data, to provide quantifiable measures of

strategy effectiveness. Customer feedback and employee perspectives can offer external

viewpoints on strategy alignment with customer needs and day-to-day operational realities.

Additionally, seeking input from external experts can provide an unbiased assessment based on

industry benchmarks. By triangulating data from various sources, researchers can mitigate bias

and subjectivity, yielding more credible and comprehensive insights into strategy adaptation in

uncertain environments.

6.5.3 Self-Reported Data:


The study's cross-sectional design captures a snapshot of strategy adaptation during a specific

period, limiting the ability to ascertain longitudinal trends or causality (Sinnaiah, Adam and

Mahadi, 2023). Future research employing longitudinal or experimental designs could unravel

temporal dynamics and causal relationships between marketing strategies and performance

outcomes amidst uncertainty. Response bias occurs when respondents provide answers that they

believe are socially desirable or align with their perceived role or expectations. In the context of

a study on strategy adaptation, top managers may have a vested interest in portraying their

strategies as adaptive and effective, potentially leading to overestimations of their organization's


adaptability. This bias can distort the accuracy of reported scores and compromise the validity of

the findings. Subjectivity is another issue. Managerial perceptions and interpretations of strategy

adaptation can vary widely. What one manager considers a highly adaptive strategy might be

seen differently by another manager within the same organization. These varying perspectives

can introduce inconsistencies and make it challenging to obtain a clear, objective picture of

strategy adaptation practices.

6.5.4 Industry-Specific Nuances:


While the research explores the impact of industries on strategy adaptation scores, it does not

delve deeply into the unique nuances of each industry. Industries encompass a wide spectrum of

sub-sectors and contexts that may influence strategy adaptation differently (Nordin and Ravald,

2023). Future studies could explore industry-specific variables that contribute to adaptive

behaviors in more granular detail. To enhance the broader applicability of the findings and to

address these limitations, future research could consider employing larger and more diverse

samples. This approach would enable researchers to capture a more comprehensive picture of

how marketing strategies evolve under uncertainty across different contexts. A larger sample size

would also facilitate statistical analysis, which can help identify statistically significant patterns

and relationships, further enhancing the robustness and generalizability of research findings.

Future research could overcome this limitation by employing larger and more diverse samples to

provide a more comprehensive understanding of marketing strategies in uncertain environments

across different contexts.


Chapter -7: Conclusion
The empirical evaluation carried out in this studies, whilst now not revealing statistically great

differences in method edition rankings across various industries, has however unveiled a

multifaceted and nuanced panorama of adaptive behaviors. It's crucial to apprehend that the

absence of statistical importance must not lessen the price of those findings. In fact, it highlights

the rich range of industry-specific responses to uncertainty. Across industries starting from

finance to manufacturing, this have a look at has illuminated how each region contributes to a

unique symphony of strategic recalibration. These adaptations, at the same time as not

statistically one-of-a-kind, replicate the complicated dynamics of every industry. It underscores

that adaptability isn't a one-size-fits-all idea however rather a complicated interplay of things

particular to each sector. Furthermore, the theoretical implications arising from this research go

beyond numerical results, challenging conventional boundaries and encouraging a more holistic

view of marketing in uncertain times. The findings emphasize the centrality of agility, urging

marketers to discard rigidity in favor of nimbleness. They underscore how customer-centricity

extends beyond transactional interactions, becoming a foundational element for resilience in

turbulent times. Additionally, the study highlights the interwoven relationship between the

digital realm and marketing, showcasing how technology amplifies both agility and customer

engagement simultaneously. While the studies aren’t always without its boundaries, such as the

sample size, reliance on self-suggested facts, and a pass-sectional design, it serves as a important
stepping stone for future pupils. It affords a starting point for delving deeper into the

multifaceted international of marketing techniques in unsure environments. As industries hold to

evolve, contexts shift, and new demanding situations emerge, the adventure of knowledge how

advertising and marketing techniques orchestrate adaptive symphonies is an ongoing and

dynamic field of exploration. This research opens doorways to unexplored avenues of have a

look at and invitations similarly inquiry into the tricky interaction between advertising and

marketing and uncertainty, promising to complement our information of this complicated and

evolving landscape.
References
Begoli, E., Bhattacharya, T. and Kusnezov, D. (2019). The need for uncertainty quantification in
machine-assisted medical decision making. Nature Machine Intelligence, 1(1), pp.20–23.
doi:https://doi.org/10.1038/s42256-018-0004-1.

Courtney, H., Kirkland, J. and Viguerie, P. (2014). Strategy Under Uncertainty. [online] Harvard
Business Review. Available at: https://hbr.org/1997/11/strategy-under-uncertainty [Accessed 24
Jun. 2023].

He, H. and Harris, L. (2020). The Impact of Covid-19 Pandemic on Corporate Social
Responsibility and Marketing Philosophy. Journal of Business Research, [online] 116(1),
pp.176–182. Available at:
https://www.sciencedirect.com/science/article/pii/S0148296320303295.

Hoekstra, J.C. and Leeflang, P.S.H. (2020). Marketing in the era of COVID-19. Italian Journal
of Marketing, [online] 1(1), pp.249–260. doi:https://doi.org/10.1007/s43039-020-00016-3.

Phillips-Wren, G. and Adya, M. (2020). Decision making under stress: the role of information
overload, time pressure, complexity, and uncertainty. Journal of Decision Systems, 29(1), pp.1–
13. doi:https://doi.org/10.1080/12460125.2020.1768680.

Phochanikorn, P. and Tan, C. (2019). An Integrated Multi-Criteria Decision-Making Model


Based on Prospect Theory for Green Supplier Selection under Uncertain Environment: A Case
Study of the Thailand Palm Oil Products Industry. Sustainability, 11(7), p.1872.
doi:https://doi.org/10.3390/su11071872.

R. Taylor, C. (2020). Advertising and COVID-19. International Journal of Advertising, [online]


39(5), pp.587–589. doi:https://doi.org/10.1080/02650487.2020.1774131.
Ratten, V. (2020). Coronavirus and international business: An entrepreneurial ecosystem
perspective. Thunderbird International Business Review, 62(5).
doi:https://doi.org/10.1002/tie.22161.

Sharif, A., Aloui, C. and Yarovaya, L. (2020). COVID-19 pandemic, oil prices, stock market,
geopolitical risk and policy uncertainty nexus in the US economy: Fresh evidence from the
wavelet-based approach. International Review of Financial Analysis, 70(1), p.101496.
doi:https://doi.org/10.1016/j.irfa.2020.101496.

Sharma, P., Leung, T.Y., Kingshott, R.P.J., Davcik, N.S. and Cardinali, S. (2020). Managing
uncertainty during a global pandemic: An international business perspective. Journal of Business
Research, 116(1), pp.188–192. doi:https://doi.org/10.1016/j.jbusres.2020.05.026.

Amalina, F., Hashem, I.A.T., Azizul, Z.H., Fong, A.T., Firdaus, A., Imran, M. and Anuar, N.B.
(2019). Blending Big Data Analytics: Review on Challenges and a Recent Study. IEEE Access,
8(1), pp.1–1. doi:https://doi.org/10.1109/access.2019.2923270.

Balmer, J.M.T. and Greyser, S.A. (2006). Corporate marketing: Integrating corporate identity,
corporate branding, corporate communications, corporate image and corporate reputation.
European Journal of Marketing, 40(7/8), pp.730–741.
doi:https://doi.org/10.1108/03090560610669964.

Eger, L., Mičík, M., Gangur, M. and Řehoř, P. (2019). EMPLOYER BRANDING:
EXPLORING ATTRACTIVENESS DIMENSIONS IN A MULTICULTURAL CONTEXT.
Technological and Economic Development of Economy, 25(3), pp.519–541.
doi:https://doi.org/10.3846/tede.2019.9387.

Hariri, R.H., Fredericks, E.M. and Bowers, K.M. (2019). Uncertainty in Big Data analytics:
survey, opportunities, and Challenges. Journal of Big Data, [online] 6(1), pp.1–16.
doi:https://doi.org/10.1186/s40537-019-0206-3.

Hazen, S. (2017). Uncertainty in Marketing and Research by Stan Hazen. [online]


decisionanalyst.com. Available at:
https://www.decisionanalyst.com/blog/uncertaintyinmarketingresearch/ [Accessed 18 Aug.
2023].

Kim, H.K., Ahn, J., Atkinson, L. and Kahlor, L.A. (2020). Effects of COVID-19 Misinformation
on Information Seeking, Avoidance, and Processing: A Multicountry Comparative Study.
Science Communication, 42(5), pp.586–615. doi:https://doi.org/10.1177/1075547020959670.

Kotler, P. and Keller, K.L. (2021). Marketing Management, Global Edition. S.L.: Pearson
Education Limited.

Lee, S., Vigoureux, T.F., Hyer, K. and Small, B.J. (2020). Prevalent Insomnia Concerns and
Perceived Need for Sleep Intervention Among Direct-Care Workers in Long-Term Care. Journal
of Applied Gerontology, 41(1), pp.274–284. doi:https://doi.org/10.1177/0733464820978612.

Liu, X. and Flick, R. (2019). The relationship among psychological need satisfaction, class
engagement, and academic performance: Evidence from China. Journal of Education for
Business, 94(6), pp.408–417. doi:https://doi.org/10.1080/08832323.2018.1541855.

Morgan, R.M. and Hunt, S.D. (1994). The Commitment-Trust Theory of Relationship
Marketing. Journal of Marketing, [online] 58(3), pp.20–38.
doi:https://doi.org/10.1177/002224299405800302.

Nordin, F. and Ravald, A. (2023). The making of marketing decisions in modern marketing
environments. Journal of Business Research, 162(1), p.113872.
doi:https://doi.org/10.1016/j.jbusres.2023.113872.

Pulendran, S., Speed, R. and Widing, R.E. (2003). Marketing planning, market orientation and
business performance. European Journal of Marketing, 37(3/4), pp.476–497.
doi:https://doi.org/10.1108/03090560310459050.

Role of Marketing (2023). Chapter 1: The Role Of Marketing Research. [online] www.fao.org.
Available at: https://www.fao.org/3/w3241e/w3241e02.htm [Accessed 18 Aug. 2023].
Sinnaiah, T., Adam, S. and Mahadi, B. (2023). A strategic management process: the role of
decision-making style and organisational performance. Journal of Work-Applied Management,
[online] 15(1). doi:https://doi.org/10.1108/jwam-10-2022-0074.

You might also like