Showing papers on "Marketing strategy published in 2007"
TL;DR: In this article, a conceptual framework for marketers to consider when exploring ways to distinguish themselves, in the eyes of the customer, from others in the marketplace is presented, based on the strengths of existing frameworks.
Abstract: Creation of value for customers is a critical task for marketers, particularly when developing new products and services or starting new businesses. This paper presents a new conceptual framework for marketers to ponder when exploring ways to distinguish themselves, in the eyes of the customer, from others in the marketplace. This framework is built on the strengths of existing frameworks. Possible applications of the framework in designing marketing strategy, recognizing new product opportunities, and enhancing product concept specifications are discussed.
872 citations
TL;DR: In this article, the authors find that green marketing could learn from conventional marketing in discovering other means than labelling to promote green products, such as addressing a wider range of consumers, working with the positioning strategies of price, place and promotion, and actively engaging in market creation.
533 citations
TL;DR: In this paper, the authors examined the effect of ability to measure marketing performance on firm performance, using both primary data collected from senior marketers and secondary data on firm profitability and stock returns.
Abstract: Marketing practitioners are under increasing pressure to demonstrate their contribution to firm performance. It has been widely argued that an inability to account for marketing's contribution has undermined its standing within the firm. To respond to this pressure, marketers are investing in the development of performance measurement abilities, but to date, there have been no empirical studies of whether the ability to measure marketing performance has any actual effect on either firm performance or marketing's stature. In this study of senior marketing managers in high-technology firms, the authors examine the effect of ability to measure marketing performance on firm performance, using both primary data collected from senior marketers and secondary data on firm profitability and stock returns. They also explore the effect of ability to measure marketing on marketing's stature within the firm, which is operationalized as chief executive officer satisfaction with marketing. The empirical results...
391 citations
TL;DR: In this paper, the authors empirically investigated various facets of thought-world differences and their effects on various outcomes and concluded that differences hamper the cooperation between marketing and sales, which leads to a lower market performance of the business unit.
Abstract: The literature is divided on whether differences between the thought worlds of marketing and sales are deleterious or beneficial. This article empirically investigates various facets of thought-world differences and their effects on various outcomes. It confirms that, in general, differences hamper the cooperation between marketing and sales, which leads to a lower market performance of the business unit. However, some facets of thought-world differences enhance the market performance of the business unit through a direct effect that outweighs the negative effect mediated by the quality of cooperation between marketing and sales. Market performance is enhanced if one side plays the customers' advocate while the other plays the products' advocate. Market performance is also enhanced if one side plays the advocate of short-term considerations while the other plays the advocate of long-term considerations. In contrast, differences between marketing and sales in regard to product knowledge and interp...
341 citations
TL;DR: The distinctive difference between the 1985 and the 2004 American Marketing Association definitions of marketing is the lack of exchange as discussed by the authors, and a focus on creating and delivering value through customer relationships replaces the historical focus on the exchange paradigm.
Abstract: The distinctive difference between the 1985 and the 2004 American Marketing Association definitions of marketing is the lack of exchange. In the new definition, a focus on creating and delivering value through customer relationships replaces the historical focus on the exchange paradigm. The authors welcome this change and discuss its implications, the limits of the exchange paradigm, the merits of value creation, and the future paradigm for marketing.
330 citations
TL;DR: In this paper, the authors highlight the central role that the study of marketing systems could and should play in the discipline of macromarketing, and place the concept of a marketing system at the center of macro-marketing, placing in context much if not all of the concepts, ideas, and research that have been part of mac-marketing for the past thirty or more years.
Abstract: This article highlights the central role that the study of marketing systems could and should play in the discipline of macromarketing. Drawing from a wide-ranging literature, a new definition of marketing systems is shared. The study of a marketing system furthermore can be approached in one or more of at least four ways. Each approach discussed raises issues of modeling and measurement, of attributes, and of inputs and outputs, which increasingly often will provide insights into system design alternatives. Placing the concept of a marketing system at the center of macromarketing puts in context much if not all of the concepts, ideas, and research that have been part of macromarketing for the past thirty or more years and provides a bridge to the wealth of relevant studies now being undertaken in many related fields.
317 citations
TL;DR: In this paper, the authors present a redefined value chain strategy that entails a closed-loop system for industries in the US, where the return process is viewed as an opportunity to give this returns pile a new lease of life.
Abstract: Conventional wisdom in value chain strategy assumes a one-directional flow of primary activities, starting from inbound logistics to operations, outbound logistics, marketing and sales, and finally to service. Our recent study, extensive discussions with executives, and on-site visits suggest that this wisdom may not be complete for certain industries or products. Customers on average return about 6% of everything they buy. Companies need to view this as an opportunity to give this returns pile a new lease of life. Yet many companies are not used to thinking that the things they expel such as products, waste, and resources actually have value. In fact, few retailers and suppliers capture the wealth of information that is locked inside a box that has been returned to the warehouse. Elevating the returns process to a new marketing opportunity builds a loyal customer base and also attracts new ones. In this paper, we present a redefined value chain strategy that entails a closed-loop system for industries in...
283 citations
TL;DR: In this paper, the authors investigate the link between individuals' expectations of corporate social responsibility (CSR) and their readiness to support the socially responsible behaviour of companies in light of the expectational relationship a company has with its stakeholders, as defined in the corporate marketing model.
Abstract: Purpose – The purpose of this paper is to investigate the link between individuals' expectations of corporate social responsibility (CSR) and their readiness to support the socially responsible behaviour of companies in light of the expectational relationship a company has with its stakeholders, as defined in the corporate marketing model.Design/methodology/approach – The data were collected using an online survey of 354 respondents from different backgrounds. The sample was 57 per cent female and 43 per cent male with 66 per cent of respondents aged between 20 and 40 years. The authors conducted descriptive statistics, a factor analysis, and structural equation modelling.Findings – The results show that expectations of ethical‐philanthropic CSR tend to have a significant positive influence on both types of intended CSR support by customers.Research limitations/implications – The limitation of the research is the limited scope of the model. For more insight into the relevance of CSR for corporate marketin...
261 citations
TL;DR: In this paper, the authors present evidence that some firms engage in this type of "myopic marketing management" at the time of a seasoned equity offering (SEO), and they propose some actions that might reduce the incentives for myopic behavior.
Abstract: Managers often have incentives to artificially inflate current-term earnings by cutting marketing expenditures, even if it comes at the expense of long-term profits. Because investors rely on current-term accounting measures to form expectations of future-term profits, inflating current-term results can lead to enhanced current-term stock price. We present evidence that some firms engage in this type of “myopic marketing management” at the time of a seasoned equity offering (SEO). In particular, a greater proportion of firms than is typical report earnings higher than normal and marketing expenditures lower than normal at the time of their SEO. Although they realize that firms might be undertaking strategies to artificially inflate current-term earnings, the financial markets are not adequately identifying and properly valuing the firms doing so. Our results indicate that myopic firms are able to temporarily inflate their stock market valuation, but in the long run, as the consequences of cutting marketing spending become manifest, they have inferior stock market performance. We propose some actions that might reduce the incentives for myopic behavior.
233 citations
TL;DR: In this article, a model of collaborative marketing is proposed that integrates the preconditions, motivations, processes, and outcomes of destination marketing alliances and networks based upon theories of interorganizational relations.
Abstract: Marketing a destination has been a challenging task for many communities that rely on tourism for economic development. Collaborative marketing efforts of the tourism organizations representing the destination provide solutions to this challenge. This article develops an integrative theoretical framework in an attempt to explore the nature and dynamism of collaborative marketing efforts at the destination level. Specifically, a model of collaborative marketing is proposed that integrates the preconditions, motivations, processes, and outcomes of destination marketing alliances and networks based upon theories of interorganizational relations. Implications are provided and discussed from both practical and theoretical perspectives.
225 citations
TL;DR: In this paper, the authors propose a model of antecedents to superior customer value creation elaborating on literature that deals with marketing capabilities and marketing-sales relationship, and they hypothesize that a firm's long-term strategic orientation, effective marketing and sales relationship, the use of a direct sales force and customer-oriented salespeople positively affect superior product value creation and market performance.
TL;DR: The role of e-commerce in the multi-channel structure, finding an optimal channel mix, creating synergies across channels, building strategic alliances, creating sustainable competitive advantages, managing more complex supply chains, dealing with conflict, and providing the leadership necessary to attain well integrated multiple channels.
TL;DR: Marketing thought and practice has evolved over the past 100 years from a philosophy of taking things to market to a belief in marketing to customers and, increasingly today, to marketing with customers as mentioned in this paper.
Abstract: Marketing thought and practice has evolved over the past 100 years from a philosophy of taking things to market to a philosophy of market(ing) to customers and, increasingly today, to a philosophy of market(ing) with customers. The author discusses the evolution of these philosophies and their influence on how the American Marketing Association has defined marketing.
TL;DR: In this paper, the authors present the successful application of a model, which combines Mitchell's theory of stakeholder saliency and Coviello's framework of contemporary marketing practices in a leading non-profit organization in the U.K.
Abstract: Non-profit (NP) organizations present complex challenges in managing stakeholder relationships, particularly during times of environmental change. This places a premium on knowing which stakeholders really matter if an effective relationship marketing strategy is to be developed. This article presents the successful application of a model, which combines Mitchell’s theory of stakeholder saliency and Coviello’s framework of contemporary marketing practices in a leading NP organization in the U.K. A cooperative enquiry approach is used to explore stakeholder relationships, dominant marketing practices, and to surface differing perceptions about the organization’s marketing strategy. Resolving these differences sets the scene for developing choices in marketing strategy for the future.
Book•
01 Jan 2007
TL;DR: In this paper, the authors present the basics of marketing management, including strategic planning, marketing information, research, and understanding the target market, as well as the process and systems for decision-making.
Abstract: Section I Essentials of Marketing Management Part A Introduction Chapter One Strategic Planning and the Marketing Management Process Part B Marketing Information, Research, and Understanding the Target Market Chapter Two Marketing Research: Process and Systems for Decision Making Chapter Three Consumer Behavior Chapter Four Organizational Buying Chapter Five Market Segmentation Part C The Marketing Mix Chapter Six Product Strategy Chapter Seven New Product Planning and Development Chapter Eight Integrated Marketing Communications: Advertising and Sales Promotion Chapter Nine Personal Selling Chapter Ten Distribution Strategy Chapter Eleven Pricing Strategy Part D Marketing in Special Fields Chapter Twelve The Marketing of Services Chapter Thirteen Global Marketing Section II Analyzing Marketing Problems and Cases Section III Financial Analysis for Marketing Decisions Section IV Internet Exercises and Sources of Marketing Information Part A Internet Exercises Part B Annotated Bibliography of Major Online Databases Used in Marketing Section V Marketing Management Cases Case Group A Market Opportunity Analysis Case Group B Product Strategy Case Group C Promotion Strategy Case Group D Distribution Strategy Case Group E Pricing Strategy Case Group F Social and Ethical Issues in Marketing Management Section VI Strategic Marketing Cases Section VII Developing Marketing Plans
TL;DR: This article proposed a new framework for conceptualizing brand equity that distinguishes between brand equity, conceived of as an intrapersonal construct that moderates the impact of marketing activities, and brand value, which is the sale or replacement value of a brand.
Abstract: During the past 15 years, brand equity has been a priority topic for both practitioners and academics. In this paper, the authors propose a new framework for conceptualising brand equity that distinguishes between brand equity, conceived of as an intrapersonal construct that moderates the impact of marketing activities, and brand value, which is the sale or replacement value of a brand. Such a distinction is important because, from a managerial perspective, the ultimate goal of brand management and brand equity research should be to understand how to leverage equity to create value.
Book•
08 Mar 2007
TL;DR: Where there are many, small customers and the technology is simple, marketing communications and distribution tends to follow similar patterns to those found in consumer markets, but where there are few, large customers, and particularly where technology is complex and fast changing, the emphasis shifts from an impersonal marketing management process to the management of inter-firm relationships.
Abstract: Organisational markets are very diverse. A business customer may be a single-person enterprise or a global corporation. The products and services sold to business customers may be technologically very simple (a sweeping broom) or hugely complex (a turnkey manufacturing plant, or a strategy for the takeover of a key competitive rival). Consequently, a debate has raged in the literature about whether business-to-business marketing is essentially the same as consumer marketing, or is a substantially different practice. Where there are many, small customers and the technology is simple, marketing communications and distribution tends to follow similar patterns to those found in consumer markets. However, where there are few, large customers, and particularly where technology is complex and fast changing, the emphasis shifts from an impersonal marketing management process to the management of inter-firm relationships. Impersonal marketing communications and indirect distribution channels are inappropriate under these circumstances; personal relationship management (Key Account Management), direct distribution, and adapting to the needs of individual customer organisations become the dominant strategy. In the practice of business-to-business marketing management, it is not as simple as this, however. Many firms will have a few large customers for whom a relational marketing strategy is appropriate, and many smaller customers for whom it probably is not. Key strategic decisions surround the treatment of individual customers. Marketing resources must be invested wisely; time spent building a relationship with a customer who turns out to be unprofitable is money wasted, while handling a potentially important customer with insufficient care may lead to the loss of profitable business.
[...]
08 Jul 2007
TL;DR: In this paper, the authors present an Intranet-private network of sharing information Reduces paper Ease in sharing information Access restricted EDI - electronic data interchange Used in ordering, invoicing and confirmation of product movement ECR-efficient consumer response Use of electronic point of sale (EPOS) units (scanners) CRMcustomer relationship management Amazon.com history of sales, suggestions Replacements.com listing of personal patternsemails on inventory available SFAsales force administration Monitoring visits, sales, training, promotions etc.
Abstract: Intranet-private network of sharing information Reduces paper Ease in sharing information Access restricted EDI – electronic data interchange Used in ordering, invoicing and confirmation of product movement ECR-efficient consumer response Use of electronic point of sale (EPOS) units (scanners) CRMcustomer relationship management Amazon.comhistory of sales, suggestions Replacements.com listing of personal patternsemails on inventory available SFAsales force administration Monitoring visits, sales, training, promotions etc. Data warehouseskey aspect of a companies system PRIVACY Issues
TL;DR: In this article, the authors highlight the major contributions made in the field of project marketing during the last decade and point out the emergence of integrated solutions and details the major challenges facing the marketing of solutions.
TL;DR: The authors empirically investigated whether brand orientation can partly close the performance gap between marketing strategy and performance and found that brand orientation moderated the path from marketing strategy to brand performance, and it is brand orientation that offers extra benefits in terms of partly closing the strategy-performance gap.
Abstract: Recently there has much interest in the role of marketing contributing to firm performance. However, in practice, because of implementation difficulties intended strategy often falls short of optimum performance. The purpose of this paper is to report a recent empirical study that can close the gap between marketing strategy and performance. We empirically investigate whether brand orientation can partly close the strategy–performance gap. Empirical evidence was collected from a sample of 403 Australian firms. Marketing strategy and innovation level were found to influence significantly brand performance. In turn, brand orientation moderated the path from marketing strategy to brand performance. The results suggest that brand orientation, marketing strategy and innovation can influence brand performance and it is brand orientation that offers extra benefits in terms of partly closing the strategy–performance gap.
TL;DR: While American School defines marketing through the concept of 4P's, several European and especially The Nordic School (e.g. Gummesson, Gronroos, Zineldin) points out the fact that this view of mar...
Abstract: While American School defines marketing through the concept of 4P’s, several European and especially The Nordic School (e.g. Gummesson, Gronroos, Zineldin) points out the fact that this view of mar ...
TL;DR: In this paper, the authors focus on the measurement of the return on marketing and present a conceptual framework that places measurement efforts in a historical perspective, and conclude with a discussion on where the future of marketing metrics lies.
TL;DR: In this article, the authors show that the firm performance relationship is contingent on the firm's strategy by examining this relationship in high-tech markets and by considering the incremental contribution of appropriate target market selection.
Abstract: Business strategy is fundamentally concerned with the actions required to create superior customer value in the firm’s target markets with the ultimate goal of achieving superior performance. Marketing theory suggests that two critical marketing activities required to achieve this end are: (1) the adoption of appropriate strategic behaviors (i.e., customer-oriented, competitor-oriented, technology-oriented) and (2) targeting of the appropriate market segments (i.e., innovators, early adopters, early majority, late majority, laggards). This study builds on prior research which demonstrates that the strategic behavior—firm performance relationship is contingent on the firm’s strategy by examining this relationship in high tech markets and by considering the incremental contribution of appropriate target market selection. Responses from 160 senior marketing managers in high-tech firms reveal strong support for our framework. Thus, this study provides useful guidance to executives and managers in high-tech firms regarding the steps that they should take to increase their probability of success.
TL;DR: In this article, the authors examined the mechanisms by which an understanding develops and, subsequently, shapes marketing strategy and argued that a developed sensemaking capability increases the potential range of strategic responses and, ultimately, enhances customer-based performance.
TL;DR: In this article, the authors suggest a shift in the tourism marketing paradigm away from economic profit priorities toward sustainability, considering social equity, environmental protection, and economic livability, and propose a sustainable tourism marketing model integrating tourism into a larger holistic context and focusing on marketing a quality of life for all stakeholders in the system.
Abstract: Purpose – The purpose of this paper is to suggest a shift in the tourism marketing paradigm away from economic profit priorities toward sustainability. The sustainability approach adopts a holistic, integrated view of marketing, considering social equity, environmental protection, and economic livability. The paper seeks to examine the evolving model for the tourism marketing environment.Design/methodology/approach – The paradigm shift naturally occurs by tracing the evolution of marketing approaches from production, sales, and a consumer orientation toward marketing alternatives such as societal, causal, green, responsible, and relationship marketing. Adapting a living system theory to tourism marketing, a sustainable tourism marketing model integrates tourism into a larger holistic context and focuses on marketing a quality of life for all stakeholders in the system.Findings – While alternative approaches to tourism marketing include societal consideration such as tourism impacts and environmental segme...
Book•
04 Jun 2007
TL;DR: The New Rules of Marketing and PR as mentioned in this paper shows how to leverage the potential that Web-based communication offers to a business and how to exploit the potential of web-based communications.
Abstract: The New Rules of Marketing and PR shows you how to leverage the potential that Web-based communication offers your business. Finally, you can speak directly to customers and buyers, establishing a personal link with the those who make your business work. You can reach niche buyers with targeted messages that cost a fraction of your big-budget ad campaign. Rather than bombard them with advertising they'll likely ignore, you can focus on getting the right message to the right people at the right time.When people visit your company's Web site, they aren't there to hear your slogan or see your logo again. They want information, interaction, and choice-and you'd be a fool not to give it to them. This one-of-a-kind guide to the future of marketing includes a step-by-step action plan for harnessing the power of the Internet, showing you how to identify audiences, create compelling messages, get those messages to the right people, and lead those consumers into the buying process. Including a wealth of compelling case studies and real-world examples, this is a practical guide to the new reality of PR and marketing.
TL;DR: In this paper, the authors identify success factors for business schools in their competitive environment, and to provide some recommendations for higher education in the future, and propose tools and strategies for facing these challenges.
Abstract: Purpose – Forward‐looking schools around the world are beginning to implement changes to their curricula, their marketing strategies, their alliances and partnerships to face the challenges of the increasingly competitive business education market of the future. This paper seeks to identify success factors for business schools in their competitive environment, and to provide some recommendations for higher education in the future.Design/methodology/approach – The paper outlines the current challenges faced by business schools and those posing a threat for their success in the future. Furthermore, the paper proposes tools and strategies for facing these challenges.Findings – The successful business school of the future will offer innovative programmes, backed by the appropriate resources to guarantee an excellent faculty body, an international experience and a multi‐cultural environment to its students. At the same time, successful business schools will seek accreditation and quality improvement programmes...
Book•
29 Mar 2007
TL;DR: The history and development of CRM can be found in this article, where the authors discuss the principles of customer relationship marketing, relationship marketing strategies, marketing automation, and CRM programs.
Abstract: Part One: CRM THEORY AND DEVELOPMENT. 1. Principles of Customer Relationship Marketing. 2. History and Development of CRM. 3. Relationship Marketing & Customer Relationship Management. 4. Organization & CRM. Part Two: DATA, INFORMATION, AND KNOWLEDGE MANAGEMENT. 5. CRM and Data Management. 6. Technology and Data Platforms. 7. Database and Customer Data Development. Part Three: CRM: IMPACT ON SALES AND MARKETING STRATEGY. 8. Sales Strategy & CRM. 9. CRM Technology and Sales. 10. Marketing Strategy and CRM. 11. CRM, Marketing Automation, & Communication. Part Four: CRM EVALUATION. 12. CRM Program Measurement & Tools. Part Five: PRIVACY, ETHICS, AND GLOBAL CONSIDERATIONS. 13. Privacy Considerations & Issues. Part Six: CRM NEW HORIZONS. 14. The Future of CRM.
TL;DR: In this paper, the authors examine how companies are affected by economic crises, assess the effects of marketing strategies on company performance in such conditions, and identify those that can help companies to maintain successful performance despite turbulence in the operational environment.
Abstract: Purpose – To examine how companies are affected by economic crises, to assess the effects of marketing strategies on company performance in such conditions, and to identify those that can help companies to maintain successful performance despite turbulence in the operational environment.Design/methodology/approach – A structured questionnaire contained questions relating to 21 marketing strategies, associated with the elements of the marketing mix, plus a “general marketing strategies” category. It was completed by 172 Turkish companies, drawn from a national frame of 1,000. Data were analysed by factor analysis, with performance criteria set as the dependent variable. Results are reported for each of the elements of the marketing mix.Findings – Companies that modify their strategies appropriately can maintain or improve their performance in times of crisis. Conclusions and recommendations identify the strategic changes most likely to achieve that outcome, measured mainly in terms of sales, market share a...
TL;DR: In this paper, a structured focus group methodology was used to investigate teenagers' perceptions about buzz marketing and the issue of disclosure, finding that teenagers like being buzz agents, they view this role as a job, they usually conceal the fact that they are buzz agents and they generally see no ethical dilemma in not revealing their status.
Abstract: Purpose – This study aims to investigate teenagers'perceptions about buzz marketing and the issue of disclosure.Design/methodology/approach – A structured focus group methodology was used in the study.Findings – The paper finds that teenagers like being buzz agents, they view this role as a job, they usually conceal the fact that they are buzz agents, and they generally see no ethical dilemma in not revealing their status.Practical implications – It is important to establish a relationship that encourages honesty and transparency in the marketing exchange process when teens are used as buzz agents.Originality/value – The paper provides useful information on the marketing exchange process when teens are used as buzz agents.