Showing papers on "Marketing strategy published in 2009"

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.

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 Social Media Marketing Book

Abstract: Are you looking to take advantage of social media for your business or organization? With easy-to-understand introductions to blogging, forums, opinion and review sites, and social networks such as Twitter, Facebook, and LinkedIn, this book will help you choose the best -- and avoid the worst -- of the social web's unique marketing opportunities. The Social Media Marketing Book guides you through the maze of communities, platforms, and social media tools so you can decide which ones to use, and how to use them most effectively. With an objective approach and clear, straightforward language, Dan Zarrella, aka "The Social Media & Marketing Scientist," shows you how to plan and implement campaigns intelligently, and then measure results and track return on investment. Whether you're a seasoned pro or new to the social web, this book will take you beyond the jargon to social media marketing mastery. Make sense of this complicated environment with the help of screenshots, graphs, and visual explanations Understand the history and culture of each social media type, including features, functionality, and protocols Get clear-cut explanations of the methods you need to trigger viral marketing successes Choose the technologies and marketing tactics most relevant to your campaign goals Learn how to set specific goals for your campaigns and evaluate them according to key performance indicators

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.

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.

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...

Packaging design: creating competitive advantage with product packaging

Abstract: Purpose – The purpose of this paper is to study how packaging and packaging design can contribute to competitive advantage for marketing a consumer product.Design/methodology/approach – Different influences from actors in the packaging design process are discussed in a conceptual model. A single case study based on five “corporate stories” about packaging development resulting in a new package are presented and analysed.Findings – The present study demonstrates influences on the design process of a package from external and internal factors. The outcome of the design process is, to a great extent, dependent on the interaction between the main actors in this process. The study argues for the importance of the interaction with customers for planning and conducting the design. The result of such a process is a package that can trigger customers make a purchase and/or re‐inforce the brand name for a re‐purchase of the product.Practical implications – The main implications for management are that packaging is ...

B2B is Not an Island

Abstract: Purpose - With B2B (business-to-business) and new developments in marketing as the springboard, to emphasize the necessity of heeding complexity and context by addressing marketing as a coherent, relational system. Methodology/approach - Conceptual analysis based on new developments in marketing, network theory, and case study research; and the thesis that any company or marketing situation directly or indirectly embraces both B2B and B2C (business-to-consumer) issues. Findings - First, recent marketing theory points to the need for a network and systems approach to marketing and to changing roles between suppliers and customers. Two of these developments, many-to-many marketing as a broadening of relationship marketing (RM) and CRM (customer relationship management), and the service dominant logic (S-D logic) stress C2B (consumer-to-business) and C2C (customer-to-customer) interaction, exposing the customer’s active role. Second, a practitioner contribution, the cross-disciplinary IBM servicescience program, is enrolling academic research and education in the development of more functional and seamless service systems that work in real settings. Third, the conventional divide in goods and services marketing is conceptually dissolved in favor of supplier-customer interaction leading to value propositions and the co-creation of value. Research implications - B2B, B2C/C2B and C2C aspects are part of an integrated, complex context. Case study research and network theory allow researchers to let complexity and context to come forward. Network theory should be used in all marketing and not only on B2B. Definitions, categories and concepts in use need to be constantly evaluated as to validity and relevance for contemporary and future marketing. The conventional economic sectors(manufacturing, services, agriculture) are supplier-centric whereas marketing prescribes customer-centricity; consequently they should not be used in marketing. By focusing on continuous theory generation, an open source code and mass collaboration, “testing” and critiquing theory is superfluous; instead generate better theory to replace previous theory. Treat marketing as an aspect of all company activities; in a network every node and link can potentially affect any other part of a network. Practical implications - For marketers to better overview complexity and context of their specific marketing situations, to systematically observe relational phenomena and the customer’s role, and as a consequence better foresee opportunities and avoid mistakes in their marketing planning. Originality/value - In the light of new research and conceptualization, the article offers a network view which is only marginally represented in research and education in marketing. With bigger and more global systems and growing dependency on software and the Internet, the need to address integrated systems becomes urgent. In the new logic of service and value creation, marketing categories are being dissolved and the reductionism and linearity of Western science are being challenged in favor of a broader network approach. The dependency between B2B and B2C has been noted before but we go further and treat these as perspectives of a grander marketing context and not as independent categories. The analysis of B and C combinations displays the broadened role of customers in value networks. Goods and services are intertwined and can only be understood and handled in a unified context.

A Multidimensional Approach to the Influence of Environmental Marketing and Orientation on the Firm's Organizational Performance

Abstract: Since it implies a reduction in the quality and the quantity of the natural resources, environmental degradation is a present day problem that requires immediate solutions. This situation is driving firms to undertake an environmental transformation process with the purpose of reducing the negative externalities that come from their economic activities. Within this context, environmental marketing is an emerging business philosophy by which organizations can address sustainability issues. Moreover, environmental marketing and orientation are seen as valuable strategies to improve a firm’s competitiveness. However, the literature that has analyzed the link between environmental strategies and firms’ results has been inconclusive and contradictory. In this study, we propose and test a model that analyses how the implementation of ecological issues within a firm’s marketing strategy and orientation influences organizational results. Data were obtained through a survey sent to Spanish manufacturing firms. The results show that environmental marketing positively affects firms’ operational and commercial performance and this improvement will influence their economic results. Moreover, environmental marketing is revealed as an excellent strategy to obtain competitive advantages in costs and in product differentiation. Thus, this study agrees with the researchers who affirm that environmental strategies positively affect firm’s competitiveness while reducing environmental impact.

Consideration Sets and Competitive Marketing

Abstract: We study a market model in which competing firms use costly marketing devices to influence the set of alternatives which consumers perceive as relevant. Consumers in our model are boundedly rational in the sense that they have an imperfect perception of what is relevant to their decision problem. They apply well-defined preferences to a “consideration set”, which is a function of the marketing devices employed by the firms. We examine the implications of this behavioral model in the context of a competitive market model, particularly on industry profits, vertical product differentiation, the use of marketing devices and consumers’ conversion rates.

How to market in a downturn

Abstract: I n every recession marketers find themselves in poorly charted waters because no two downturns are exactly alike. However, in studying the marketing successes and failures of dozens of companies as they’ve navigated recessions from the 1970s onward, we’ve identified patterns in consumers’ behavior and firms’ strategies that either propel or undermine performance. Companies need to understand the evolving consumption patterns and fine-tune their strategies accordingly.

Marketing as promise management: regaining customer management for marketing

Abstract: Purpose – In today's competitive markets where market offerings are far more complicated and customer interfaces are far broader than conventional marketing models assume, marketing has become increasingly tactical and lost control of the customer management process. The purpose of this paper is to develop a promise management‐based approach to marketing with the goal of regaining customer management for marketing.Design/methodology/approach – The approach takes the form of a conceptual analysisFindings – According to the promise management approach marketing is viewed as a process of enabling and making promises as well as keeping promises in order to meet expectations created by promises made. Value creation in customer processes is considered the goal for marketing. It is claimed that by taking this view marketing can once again take full responsibility for customer management.Research limitations/implications – The paper establishes a foundation for studying marketing as a process in situations where ...

A Viral Branching Model for Predicting the Spread of Electronic Word-of-Mouth

Abstract: textIn a viral marketing campaign an organization develops a marketing message, and stimulates customers to forward this message to their contacts. Despite its increasing popularity, there are no models yet that help marketers to predict how many customers a viral marketing campaign will reach, and how marketers can influence this process through marketing activities. This paper develops such a model using the theory of branching processes. The proposed Viral Branching Model allows customers to participate in a viral marketing campaign by 1) opening a seeding email from the organization, 2) opening a viral email from a friend, and 3) responding to other marketing activities such as banners and offline advertising. The model parameters are estimated using individual-level data that become available in large quantities already in the early stages of viral marketing campaigns. The Viral Branching Model is applied to an actual viral marketing campaign in which over 200,000 customers participated during a six-week period. The results show that the model quickly predicts the actual reach of the campaign. In addition, the model proves to be a valuable tool to evaluate alternative what-if scenarios.

The impact of internal and external market orientations on firm performance

Abstract: The role of internal marketing in developing organisational competencies is identified as a key area for continued research (Rafiq & Ahmed, 2003). One competence of particular interest to marketers is market orientation. This paper examines the impact of internal marketing, operationalised as a set of internal market‐oriented behaviours (IMO), on market orientation (MO) and consequently organisational performance. It provides the first quantitative evidence to support the long held assumption that internal marketing has an impact on marketing success. Data from UK retail managers were analysed using structural equation modelling employing LISREL software. These data indicate significant relationships between internal market orientation, employee motivation and external marketing success (market orientation, financial performance and customer satisfaction). Our results also support previous findings indicating a positive impact of external market orientation on customer satisfaction and financial performan...

The Fundamentals of Marketing

Abstract: Introduction. Chapter by chapter. How to get the most out of this book. The business of marketing: What is marketing? Strategic marketing in business A very brief history of marketing Where are we headed? Classic marketeers verses the new marketing model Case study: The five 'P's' in action Smart plan: Part One Chapter questions and exercises. Consumer behaviour: What is consumer behaviour? Consumer behaviour influencers Consumer behaviour and psychological make-up Market segmentation and target groups How people shop The Everyman effect Case study: Amazon.com and analytics Smart plan: Part Two Chapter questions and exercises. Product and brand development: Brands and branding Managing and growing existing brands Why are brands important? Developing new products and brands Organising for new product development Case study: Pestages Smart plan: Part three Chapter questions and exercises. Strategic pricing: Basics of marketing finance Profit - the bottom line Pricing strategies Case study: Exotic water Smart plan: Part four Chapter questions and exercises. Distribution channel marketing: What are distribution channels and how do they work? Distribution strategies Developing and managing your sales force Customer relationship marketing (CRM) Case study: Wal-Mart Smart plan: Part five Chapter questions and exercises. Promotion in marketing: The basic theories Rational verses emotional selling The communications revolution Developing marketing communications The creative process Pitching the concept Assessing marketing communications Measuring effectiveness Case study: Red Bull Smart plan: Part six Chapter questions and exercises. Appendix. Student resources. Glossary of terminology. Picture credits and acknowledgements. Working with ethics.

‘Local People’ a critical dimension for place brands

Abstract: Branding has become one of the most powerful tools in marketing strategy and its application has reach undreamed of areas. There has been a general agreement among academics and practitioners that places can be branded in the same way as consumer goods and services. Place branding is, however, a relatively new concept and there is a lack of empirical academic research on the topic. It can be assumed that place brands will have some unique characteristics that are quite different from products or services. This exploratory research reveals that local people are relevant and important for a destination brand-building process. Consumers use this factor to evaluate differences in destinations and to support their decisions about tourism consumption. It can be concluded that much of a place's image is likely to be created by stereotyping the ‘typical’ local people.

When Does International Marketing Standardization Matter to Firm Performance

Abstract: The topic of standardization of international marketing programs is an important one faced by managers of global firms and has attracted significant research attention. Although previous research has established that standardization enhances performance outcomes, more recent theorizing suggests that this may not always be the case. However, empirical investigators have paid little systematic attention to moderating conditions. The major purpose of this article is to investigate the organizational factors that moderate the standardization‐performance relationship and, thus, to explore the types of firm for which standardization is particularly beneficial. The authors examine survey data from 489 firms, and their results indicate that the standardization‐performance link is significantly stronger for large firms with a homogeneous product offering, high levels of global market penetration, a cost leadership strategy, and strong coordination capabilities. The authors conclude that managers evaluating the adequacy of a standardization strategy should consider the list of contingencies advanced in this research.

Developing a Marketing Strategy for Nonprofit Organizations: An Exploratory Study

Abstract: Nonprofit organizations have grown tremendously in the last three decades. With this growth has come a greater interest from the nonprofit sector in the importance of marketing. Nonprofits did not apply marketing techniques until 1960–1970, but it is now a well accepted practice. Traditional marketing strategies do not work for nonprofit organizations, and this study proposes the development of a new marketing strategy specifically for this sector. Through the use of interviews and surveys, the authors examine issues of marketing strategy that are distinct for nonprofits. Unlike previous studies, this study examines these issues from the viewpoint of the nonprofit organization. The perception of marketing is different in nonprofit organizations, and the strategic implications of this finding are discussed.

International marketing adaptation versus standardisation of multinational companies.

Abstract: Purpose – The purpose of this paper is to position multinational companies on a linear continuum indicating their overall attitude towards standardisation/adaptation, examines the reasons influencing multinational companies' tactical (7Ps – marketing mix) behaviour towards it, and finally presents the underlying managerial implications of the results.Design/methodology/approach – A rating scale Rasch model is used in order to place the multinational companies' attitude towards standardisation and adaptation on a linear continuum. Structural equation modelling is subsequently used in order to investigate the relationship between the adaptation and standardisation variable against other variables. An extensive literature review is also undertaken to provide the theoretical foundation.Findings – The paper corroborates the findings of past research by placing multinational companies on a linear continuum; by identifying their overall attitude towards adaptation/standardization; and by describing the relations...

Rethinking marketing communication: From integrated marketing communication to relationship communication

Abstract: Using as a starting-point the model of integrated marketing communication (IMC), which is based on the tenet that the company integrates the marketing message conveyed to the consumer, this paper switches the focus by highlighting the consumer's message integration A review of the marketing communication literature on meaning creation uncovered four central factors influencing the process of meaning creation: historical; future; external; and internal factors However, the literature seems to be lacking a broad model that includes all these factors as well as a specific study of the nature and impact of future factors Combining insights from marketing communication with findings from research in relationship marketing, this paper presents a holistic model that is based on the consumer perspective and takes into account the impact of all four factors on message integration By shedding light on the influence of the future time factor on message reception, the paper presents an emerging Relationship Commu