Showing papers on "Marketing management published in 2009"

Market orientation, marketing capabilities, and firm performance

Abstract: Drawing on traditional resource-based theory and its recent dynamic capabilities theory extensions, we examine both the possession of a market orientation and the marketing capabilities through which resources are deployed into the marketplace as drivers of firm performance in a cross-industry sample. Our findings indicate that market orientation and marketing capabilities are complementary assets that contribute to superior firm performance. We also find that market orientation has a direct effect on firms' return on assets (ROA), and that marketing capabilities directly impact both ROA and perceived firm performance. Copyright © 2009 John Wiley & Sons, Ltd.

Building strong brands in a modern marketing communications environment

Abstract: To help marketers to build and manage their brands in a dramatically changing marketing communications environment, the customer-based brand equity model that emphasizes the importance of understanding consumer brand knowledge structures is put forth. Specifically, the brand resonance pyramid is reviewed as a means to track how marketing communications can create intense, active loyalty relationships and affect brand equity. According to this model, integrating marketing communications involves mixing and matching different communication options to establish the desired awareness and image in the minds of consumers. The versatility of on-line, interactive marketing communications to marketers in brand building is also addressed.

Marketing Management (13th Edition)

Abstract: Marketing Management is the leading marketing text because its content and organization consistently reflect changes in marketing theory and practice. It’s contains of 22 chapters talking about Marketing Management, Business Plan, Managing Communication and others. The thirteenth edition builds on the fundamental strengths of past editions that collectively distinguish it from all other marketing management texts: Managerial Orientation, Analytical Approach, Multidisciplinary Perspective, Universal Applications and Comprehensive and Balanced Coverage. Other features include new concepts, examples, guidelines, and developments as detailed in the following pages.

Luxury brand marketing – The experience is everything!

Abstract: Although the definition of a ‘luxury’ brand is open for debate, the natural evolution of luxury, with luxury brands first being adopted by the affluent and wealthy before inevitably being translated and reinterpreted down to mass markets, raises new challenges for marketing strategists. Luxury brands need to stay in front of luxury consumers, through the discovery of new and different ways to give expression to their desires. This chapter discusses the fundamental difference between communication and connection, and identifies a means of assuring the greatest long-term success for luxury marketers by connecting with the luxury consumer using brand-related experiences

Understanding the Marketing Department's Influence Within the Firm

Abstract: Increasing debate centers on the decreasing influence of the marketing department within firms. This study investigates such influence and assesses its determinants and consequences. The results show that the accountability and innovativeness of the marketing department represent the two major drivers of its influence. However, the results do not indicate that the customer-connecting role of the marketing department increases its influence, though this role is important for shaping the firm's market orientation. A marketing department's influence is related positively to market orientation, which in turn is related positively to firm performance. This study also suggests a dual relationship between the marketing department's influence and market orientation. A key implication of this study is that marketers should become more accountable and innovative to gain more influence.

Sustainability Marketing: A Global Perspective

Abstract: Sustainability Marketing: A Global Perspective provides a new sustainability-oriented vision of marketing for the twenty-first century. It has a consumer marketing focus with an emphasis on integrating sustainability principles into both marketing theory and the practical decision making of marketing managers. The book shows how the complexities of sustainability issues can be integrated into marketing decisions through a systematic step-by-step approach. The steps involve an analysis of socio-environmental priorities to complement conventional consumer research; an integration of social, ethical and environmental values into marketing strategy development; a new consumer-oriented sustainability marketing mix to replace the outmoded and producer-oriented ‘4 Ps’; and finally an analysis of how marketing can go beyond responding to social change to contribute to a transformation to a more sustainable society. Without taking such steps, marketing will continue to drive global crises linked to climate change, poverty, food shortages, oil depletion and species extinction, instead of helping to tackle them. The book is ideally suited to both students and practitioners at many different levels and disciplines including marketing, business and sustainability or environmental management.

The anatomy of the luxury fashion brand

Abstract: Purpose: To explore the critical dimensions necessary to create and maintain the success of a luxury fashion brand Design/methodology/approach: This study adopts a qualitative approach in the form of case studies of 12 international fashion retailers This involved semi-structured interviews with management to explore their knowledge and experiences, supported by secondary research such as internal documents and media reports Findings: Identifies nine interrelated key luxury fashion brand attributes that are crucial in the creation and maintenance of the brand proposition The management of the luxury fashion brand is complex, and requires a consistent and coherent approach Originality/value: An empirical understanding of the luxury fashion brand's critical dimensions will assist in effective and efficient luxury fashion brand management

Marketing Alliances, Firm Networks, and Firm Value Creation

Abstract: Prior research has found that the announcement of marketing alliances tends to produce no effect on firm value creation in a high-tech context. This article reexamines this issue and investigates whether the characteristics of a firm’s network of alliances affect the firm value created from the announcement of a new marketing alliance. The authors investigate whether network centrality, network density, network efficiency, network reputation, and marketing alliance capability influence firm value creation. They examine this question using an event study of 230 announcements for marketing alliances in the software industry. The results indicate that, in general, marketing alliance announcements create value (i.e., abnormal stock returns) for the firm in the announcement period event window. Furthermore, network efficiency and network density have the strongest positive impact when they are moderate; network reputation and network centrality have no effect. These results point to the greater role of relational network characteristics than size-/status-based benefits. Finally, marketing alliance capability, which reflects a firm’s ability to manage a network of previous marketing alliances, has a positive impact on value creation.

The Role of Leaders in Internal Marketing

Abstract: There is little empirical research on internal marketing despite its intuitive appeal and anecdotal accounts of its benefits. Adopting a social identity theory perspective, the authors propose that internal marketing is fundamentally a process in which leaders instill into followers a sense of oneness with the organization, formally known as “organizational identification” (OI). The authors test the OI-transfer research model in two multinational studies using multilevel and multisource data. Hierarchical linear modeling analyses show that the OI-transfer process takes place in the relationships between business unit managers and salespeople and between regional directors and business unit managers. Furthermore, both leader–follower dyadic tenure and charismatic leadership moderate this cascading effect. Leaders with a mismatch between their charisma and OI ultimately impair followers' OI. In turn, customer-contact employees' OI strongly predicts their sales performance. Finally, both employees' ...

Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation

Abstract: The world of digital media is changing at a phenomenal pace. Constantly evolving technologies, and their evolving uses,are transforming how we access informationand how we interact and communicate with one another on a global scale. Understanding Digital Marketing looks at the world of digital marketing: how it got started, how it got to where it is today, and where the thought leaders in the industry believe it is headed in the future. The book shows readers, in a practical and comprehensive way, how to harness the power of digital media and use it to achieve the utmost success fortheir businesses. Itexplains how tochoose online marketing channels in order to get products and services to market.It explores in detail such areas as search marketing, affiliate marketing, e-mail marketing, creative online executions, and digital marketing strategies.Including real-world examples of digital marketing successes and expert opinions, Understanding Digital Marketing will givereaders the tools to utilize the power of the internet to take their businesses whereverthey wantthem to go.

Experience marketing: a review and reassessment

Abstract: For the last twenty-five years customer experiences have been considered to be a key concept in marketing management, consumer behaviour, services marketing and retailing with the result that the underlying logic and managerial rationale for experience marketing is well established in the marketing literature. However, the gulf between academics and practitioners on this topic is now as wide as ever with bestselling titles on experience marketing written by and for practitioners, which are rich in examples and step-by-step guides to managerial success yet pay scant attention to the contributions of academics in this area. The purpose of this paper is to review and reassess the extant work on experience marketing. Service-Dominant logic is employed to bridge the divide between theory and practice in this respect. A model of customer's experience proposed, implications for practitioners and academics are discussed and greater dialogue is called for between marketers and their academic counterparts.

Product-market strategy and the marketing capabilities of the firm: impact on market effectiveness and cash flow performance

Abstract: We report on two studies (a single and a multi-industry) that empirically investigate a nomological network of relationships between strategic business unit product-market strategy (differentiation, cost-focus, and product-market scope), marketing capabilities (architectural and specialized capabilities, as well as their integration), and business unit performance (market effectiveness and subsequent one-year objective cash flow), along with a series of controls. Addressing important lacunae in the resource-based view our main research objective is to augment understanding of how critical firm-level marketing capabilities enable the realization of strategy, thus, further advancing both the resource-based view and more recent capabilities theorizing. Specifically, we test seven hypotheses and find strong evidence that both architectural and specialized marketing capabilities, and their integration, positively mediate the product-market strategy and derived business unit performance relationship. In contrast to many extant studies, both survey and objectively measured data are combined, and because the secondary data collected contains both resource-level (input) data and subsequent one-year financial data, a higher level of confidence may be attributable to our findings.

Guest Editorial: Is Marketing Academia Losing Its Way?

Abstract: There is an alarming and growing gap between the interests, standards, and priorities of academic marketers and the needs of marketing executives operating in an ambiguous, uncertain, fast-changing, and complex marketspace. This has gone beyond the familiar dilemma of academic research pitted against practical relevance. Our contention is that this widening divergence has become detrimental to the long-term health of the field. We share our concerns and offer proposals for better aligning the interests of marketing academics and practitioners to their mutual benefit. We are guided by the belief that the role of academic marketing is not just to advance theory and methods but also to have an impact on the practice of marketing.

Beyond the logo: Brand management for cities

Abstract: A city's brand is increasingly considered an important asset for urban development and an effective tool for cities to distinguish themselves and improve their positioning. The introduction of corporate-level marketing concepts and, especially, corporate branding has significantly contributed towards the development of a city branding theory. In practice, however, there is an evident confusion of a wide branding strategy with one of its components, namely the design of a new logo and slogan or, at best, the development of a promotional campaign. This paper first describes the rise of city branding and the reasons of its popularity and, after a short review of the basic elements of corporate branding, it goes on to identify essential similarities between these two forms of branding. It finally detects the need to adapt any branding tools to the needs of cities and addresses the necessity of a comprehensive city brand management framework.

Key determinants of internal brand management success: An exploratory empirical analysis

Abstract: This paper presents explorative, empirical data as a first step towards testing the holistic model of internal brand management previously developed by the authors. Based on the premise of identity-oriented branding, the authors statistically examine the factors behind the three key concepts of their internal brand management model: brand commitment, brand citizenship behaviour and the brand–customer relationship. The empirical analysis builds on three data sets examining six industry sectors. The three samples were generated by means of surveys of customers, employees and marketing professionals responsible for internal brand management. The results of the statistical analysis reveal the extent to which the hypothesised determinants and causal links between brand commitment, brand citizenship behaviour and brand strength (defined as the degree of behavioural relevance of the brand) hold: The hypothesised causal link between brand commitment and brand citizenship behaviour was empirically validated, whereas the purported relationship between brand citizenship behaviour and brand strength could be shown in tendency. Its causal link could not conclusively be proven as the size of the sample proved to be too small. The hypothesised constituents of brand commitment and brand citizenship behaviour, however, required substantial modification on the basis of the empirical evidence and hence require further empirical testing with a new data set.

Market-based capabilities and financial performance of firms: insights into marketing’s contribution to firm value

Abstract: While there is recognition that market-based capabilities contribute to a firm’s financial performance, the exposition is largely conceptual (Srivastava et al. Journal of Marketing 62:2–18, 1998; Journal of Marketing 63:168–179, 1999). Using a resource based view of the firm, the present study proposes that (1) market-based assets and capabilities of a firm impacts (2) performance in three market-facing business processes (new product development, supply-chain and customer management), which in turn, influence (3) the firm’s financial performance. It develops related hypotheses and tests the framework empirically. The study also examines for the first time the interrelationship among the three business processes and their impact on the market value of firms. Further, the study examines the moderating influence of two organizational variables—size and age of the firm. Overall, the major contribution of the study is that it offers a process linkage between capabilities, process performance and financial performance. The results of this research will provide strategic insights to managers on optimal customer management, product development and supply chain strategies.

A Review of Marketing Mix: 4Ps or More?

Abstract: The main objective of this study is to review the present marketing mix applies particularly to the marketing. Borden (1965) claims to be the first to have used the term marketing mix and that it was suggested to him by Culliton’s (1948). McCarthy (1964) offered marketing mix, often referred to as the 4Ps, as a means of translating marketing planning into practice (Bennett, 1997). Marketing mix is originating from the single P (price) of microeconomic theory (Chong, 2003). Number of researchers (eg. Gronroos, 1994; Constantinides, 2002; Goi, 2005; Moller, 2006) explores more Ps instead of traditional 4Ps only currently applied in the market. However, the creation of new P seem like unstop. New Ps were introduced into the marketing scene in order to face up into a highly competitively charged environment (Low and Tan, 1995). Even, Moller (2006) presents an up-to-date picture of the current standing in the debate around the Mix as marketing paradigm and predominant marketing management tool by reviewing academic views from five marketing management sub-disciplines (consumer marketing, relationship marketing, services marketing, retail marketing and industrial marketing) and an emerging marketing (E-Commerce). The concept of 4Ps has been criticised by number of studies. Popovic (2006) criticised 4Ps as being a production-oriented definition of marketing, and not a customer-oriented. However, in spite of its deficiencies, the 4Ps remain a staple of the marketing mix. The subsequent Ps have yet to overcome a consensus about eligibility and agreement over the practical application (Kent and Brown, 2006).

Identifying the green consumer: A segmentation study

Abstract: The modern world has led consumers to become increasingly concerned about the environment. Such concerns have begun to be displayed in their purchasing patterns, with consumers increasingly preferring to buy so-called ‘environmentally friendly products’. Marketing managers have in turn recognised the strategic importance of marketing in finding responses to the ‘environmental needs’ of consumers due to the influence this may have on their consumption habits. The growing number of organisations entering the green product market also indicates the need for suitable segmentation and positioning strategies. This paper focuses on the identification of distinct market segments. Through the use of variables related to the environment, as well as demographic variables, the segments that are occupied by consumers with different sensitivities to environmental matters are identified, and the possible implications of these results for the marketing strategies of companies are also discussed.

Innovative marketing in SMEs

Abstract: – The purpose of this paper was to investigate the concept of innovative marketing and how it manifests itself in the context of small‐to medium‐sized enterprises., – The literature relating to the characteristics of SMEs, and innovative marketing are reviewed to identify the key elements of innovative marketing and SMEs. This review and the key elements identified contribute to an overall conceptualisation of innovative marketing for SMEs., – The discussion considers and provides a description of innovative marketing in SMEs. Innovative marketing does not just relate to products, new product development, and technological development but is also evident in other aspects of marketing related activities and decisions and is very specific to the context and needs of the SME., – The focus of this paper is on taking the relevant themes from the literature and considering them in the light of SME marketing and in the context of SME business activities.

Sustaining the luxury brand on the Internet

Abstract: Luxury is neither a product, an object, a service nor is it a concept or a lifestyle. It is an identity, a philosophy and a culture. As a business sector and management discipline, these characteristics signify the presence of challenges in the integration of luxury branding within the Internet and digital environment and the requirement of intricate strategies to overcome them. Recent publications have raised the issues of the compatibility of luxury and the Internet, the suitability of luxury goods in the virtual environment and strategic approaches to maximising a luxury brand's presence online. Others have indicated that the Internet is a ‘dilemma’ that luxury requires to overcome through avoiding e-Commerce, whereas other literature have suggested that the Internet is purely a channel of communications for luxury brands. The question of the state of luxury in the digital context, however, remains largely unexplored, particularly with regards to the particularities of luxury management, which have posed a challenge in adopting digital technologies in the sector over the past two decades. Until recently, the luxury industry showed low commitment towards integrating advanced Internet technologies and its accompanying interactive and digital tools in the sector's marketing and overall business strategies. They also seemed to be pushed to be present and conduct business on the Internet as a result of evolving consumer needs and expectations. Notable international brands such as Versace and Prada did not have corporate websites until 2005 and 2007, respectively. The economic as well as consumer societies have also expressed bewilderment at the slowness of the luxury industry in establishing an online presence in comparison to other sectors. These parties have been right to question this crucial issue particularly since the Internet has become an indispensable channel of modern business. As an industry that is known for innovation, avant-gardism and creativity, it may not be apparent why luxury brands and digital technology have been perceived as incompatible since the advent of the Internet and digital communications technology. However, as with every case of reverse human behaviour, this may be explained through the examination of the very core of luxury. This paper examines the core and scope of luxury as a business disciple, particularly in the dimension of branding within the digital context. It investigates the true nature of luxury as a current management science and identifies its key drivers and their scope of integration within the Internet environment. This paper has been adapted from a section of the forthcoming book, Luxury Online.

Social networks: the future of marketing for small business

Abstract: Purpose – The authors review recent developments in online marketing strategy that demonstrate the growing power of online communities in building brand reputations and customer relationships.Design/methodologies/approach – This work draws upon the results of an ongoing research project that is investigating the use of new technologies by entrepreneurial growing businesses in the London area. A range of examples from our 30 case study businesses are drawn upon to illustrate some of the opportunities and threats associated with these new marketing priorities.Findings – The authors conclude that social networks will play a key role in the future of marketing; externally they can replace customer annoyance with engagement, and internally they help to transform the traditional focus on control with an open and collaborative approach that is more conducive to success in the modern business environment.Research limitations/implications – Further research should aim to track this activity as it integrates with m...

Expanding the Role of Marketing: From Customer Equity to Market Capitalization:

Abstract: Can a marketer drive the stock price of the firm? Yes, it should be possible. Toward this endeavor, the authors develop a framework to link customer equity (CE) (as determined by the customer lifetime value metric) to market capitalization (MC) (as determined by the stock price of the firm). The authors test the framework in an empirical field experiment with two Fortune 1000 firms in the business-to-business and business-to-consumer contexts, respectively. The findings show that (1) a CE-based framework can reliably predict the MC of the firm and (2) marketing strategies directed at increasing the CE not only increase the stock price of the firm but also beat market expectations. Furthermore, the results indicate that the relationship between CE and MC is moderated by risk factors in the form of volatility and vulnerability of cash flows from customers. By accounting for these factors, the authors improve the association between CE and MC. The findings broaden the scope and role of marketing whi...

Are Product Returns a Necessary Evil? Antecedents and Consequences

Abstract: The firm–customer exchange process consists of three key parts: (1) firm-initiated marketing communications, (2) customer buying behavior, and (3) customer product return behavior.To date, the literature in marketing has largely focused on how marketing communications affect customer buying behavior and, to some extent, how past buying behavior affects a firm's decisions to initiate future marketing communications. However, the literature on product returns is sparse, especially in relation to analyzing individual customer product return behavior. Although the magnitude of the value of product returns is known to be high ($100 billion per year), how it affects customer buying behavior is not known because of a lack of data availability and understanding of the role of product returns in the firm–customer exchange process. Given that product returns are considered a hassle for a firm's supply chain management and a drain on overall profitability, it is important to study product return behavior. T...

New luxury brand positioning and the emergence of Masstige brands

Abstract: New luxury brand positioning strategies often combine a high perceived prestige with reasonable price premiums in order to attract middle-class consumers. These strategies are radically different from those implemented by traditional luxury brand owners, who maintain a strict consistency between perceived prestige and price premiums so as to preserve their brand's exclusivity. Although some authors have suggested the existence of masstige strategies, few empirical studies have been conducted to support this claim. The results confirmed that the two brands under study have adopted a masstige positioning strategy. The authors also discuss the implications of masstige strategies for researchers and practitioners.