Showing papers on "Marketing strategy published in 2016"

Organizing for marketing excellence

Abstract: Marketing organization is the interface of the firm with its markets and where the work of marketing gets done. This review of the past 25 years of scholarship on marketing organization examines the individual and integrative roles of four elements of marketing organization—capabilities, configuration (including structure, metrics, and incentives), culture, and the human capital of marketing leadership and talent. The authors indicate that these four elements are mobilized through seven marketing activities (7As) that occur during the marketing strategy process. These activities enable the firm to anticipate market changes, adapt the strategy to stay ahead of competition, align the organization to the strategy and market, activate effective implementation, ensure accountability for results, attract resources, and manage marketing assets. How well the firm manages these seven activities throughout the marketing strategy process determines the performance payoffs from marketing organization. Future ...

Mining Brand Perceptions from Twitter Social Networks

Abstract: Consumer perceptions are important components of brand equity and therefore marketing strategy. Segmenting these perceptions into attributes such as eco-friendliness, nutrition, and luxury enable a fine-grained understanding of the brand’s strengths and weaknesses. Traditional approaches towards monitoring such perceptions (e.g., surveys) are costly and time consuming, and their results may quickly become outdated. Extant data mining methods are unsuitable for this goal, and generally require extensive hand-annotated data or context customization, which leads to many of the same limitations as direct elicitation. Here, we investigate a novel, general, and fully automated method for inferring attribute-specific brand perception ratings by mining the brand’s social connections on Twitter. Using a set of over 200 brands and three perceptual attributes, we compare the method’s automatic ratings estimates with directly-elicited survey data, finding a consistently strong correlation. The approach provides a rel...

Does relationship marketing matter in online retailing? A meta-analytic approach

Abstract: Building on the meta-analytic model suggested by Palmatier et al. Journal of Marketing, 70, 136–153, (2006), this study extends the relationship marketing framework to the domain of online retailing to identify what strategies help build relationships with online customers. Specifically, this meta-analytic study identifies key antecedents and consequences of relationship marketing in online retailing. The study also examines the relationship between the four mediators—trust, commitment, relationship quality, and relationship satisfaction— and the antecedents and consequences of relationship marketing. Similarity and seller expertise were found to have the strongest impact on relational mediators, and word of mouth was the most critical outcome of relationship marketing efforts. The model proffered in this study will motivate hypotheses to be examined by future researchers. The model also helps managers to identify the key drivers of relationship marketing in online retailing.

Corporate Social Responsibility and Shareholder Wealth: The Role of Marketing Capability:

Abstract: Despite the positive societal implications of corporate social responsibility (CSR), there remains an extensive debate regarding its consequences for firm shareholders. This study posits that marketing capability plays a complementary role in the CSR–shareholder wealth relationship. It further argues that the influence of marketing capability will be higher for CSR types with verifiable benefits to firm stakeholders (i.e., consumers, employees, channel partners, and regulators). An analysis utilizing secondary information for a large sample of 1,725 firms for the years 2000–2009 indicates that the effects of overall CSR efforts on stock returns and idiosyncratic risk are not significant on their own but only become so in the presence of marketing capability. Furthermore, the results reveal that although marketing capability has positive interaction effects with verifiable CSR efforts—environment (e.g., using clean energy), products (e.g., providing to economically disadvantaged), diversity (e.g., ...

Demonstrating the Value of Marketing

Abstract: Marketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has several consequences for marketing practice. Among these are that the scope and objectives of marketing differ widely across organizations. There is confusion about the difference between marketing effectiveness and efficiency. Hard and soft metrics and offline and online metrics are typically not integrated. The two dominant tools for marketing impact assessment, response models and experiments, are rarely combined. Risk in marketing planning and execution receives little consideration, and analytic insights are n...

What Counts Versus What Can Be Counted: The Complex Interplay of Market Orientation and Marketing Performance Measurement

Abstract: Market orientation (MO) and marketing performance measurement (MPM) are two of the most widespread strategic marketing concepts among practitioners. However, some have questioned the benefits of extensive investments in MO and MPM. More importantly, little is known about which combinations of MO and MPM are optimal in ensuring high business performance. To address this research gap, the authors analyze a unique data set of 628 firms with a novel method of configurational analysis: fuzzy-set qualitative comparative analysis. In line with prior research, the authors find that MO is an important determinant of business performance. However, to reap its benefits, managers need to complement it with appropriate MPM, the level and focus of which vary across firms. For example, whereas large firms and market leaders generally benefit from comprehensive MPM, small firms may benefit from measuring marketing performance only selectively or by focusing on particular dimensions of marketing performance. The study also finds that many of the highest-performing firms do not follow any of the particular best practices identified.

Research framework, strategies, and applications of intelligent agent technologies (IATs) in marketing

Abstract: In this digital era, marketing theory and practice are being transformed by increasing complexity due to information availability, higher reach and interactions, and faster speeds of transactions. These have led to the adoption of intelligent agent technologies (IATs) by many companies. As IATs are relatively new and technologically complex, several definitions are evolving, and the theory in this area is not yet fully developed. There is a need to provide structure and guidance to marketers to further this emerging stream of research. As a first step, this paper proposes a marketing-centric definition and a systematic taxonomy and framework. The authors, using a grounded theory approach, conduct an extensive literature review and a qualitative study in which interviews with managers from 50 companies in 22 industries reveal the importance of understanding IAT applications and adopting them. Further, the authors propose an integrated conceptual framework with several propositions regarding IAT adoption. This research identifies the gaps in the literature and the need for adoption of IATs in the future of marketing given changing consumer behavior and product and industry characteristics.

Strategic marketing ambidexterity: antecedents and financial consequences

Abstract: Strategic marketing ambidexterity (SMA), the blend of a firm’s exploitation of existing competencies and exploration of future capabilities in strategic marketing activities, represents a dynamic capability that is vital in achieving superior performance. Given its criticality, the authors examine how firm antecedents and industry contexts affect the shift in a firm’s SMA over time (movement in the blend of exploitation and exploration). In addition, the authors examine SMA’s influence on firm financial outcomes, i.e., risk and return. Using data from 1999 to 2011 on publically traded firms, the authors show that firm maturity and slack (financial and strategic) are key determinants of SMA. Specifically, increased firm maturity and strategic slack result in a shift toward exploitation, whereas increased financial slack results in a shift toward exploration. Industry competitiveness moderates these effects. In terms of the financial performance implications of SMA, the authors find that shifts in SMA toward exploitation increase return, but they also increase firm-idiosyncratic risk. The authors conclude with implications for theory and managerial practice.

Integrating General Environmental Knowledge and Eco-Label Knowledge in Understanding Ecologically Conscious Consumer Behavior☆

Abstract: Global warming and climate change have become emerging issues for marketing to promote ecologically conscious consumer behavior. Past studies investigated the role of general environmental knowledge in attitude-behavior relationship of pro-environmental consumer behavior. Using the Theory of Reasoned Action (TRA) as a guiding framework, this study takes a fresh look at attitude-behavior relationship that integrates both general environmental knowledge and knowledge of eco-labels in the model to investigate their role in predicting ecologically conscious consumer behavior. The study finds that both general environmental knowledge and eco-label knowledge positively influence consumer attitudes towards environment in driving ecologically conscious consumer behavior. The findings suggest that marketing strategy, specifically communication strategy, needs to focus on educating consumers about issue-specific environmental knowledge (e.g., eco-label knowledge) along with general environmental knowledge. Further research should integrate more issue-specific dimensions to investigate pro-environmental consumer behavior.

Constructing online switching barriers: examining the effects of switching costs and alternative attractiveness on e-store loyalty in online pure-play retailers

Abstract: Developing switching barriers to retain customers has become a critical marketing strategy for online retailers. However, research on the role of switching barriers in e-retailing is still limited. Recent trends show that when competitors are just one click away, it is questionable if customer loyalty can be achieved at all in online environments. This leads to the research question on whether switching barriers have any impact on e-loyalty in pure-play retailers. The paper examines the influence of switching barriers on customer retention (i.e., e-store loyalty) and further investigates the moderating effects of switching costs and alternative attractiveness. Data were gathered via a survey of 590 shoppers of online pure-play retailers in the UK. Findings show that customer satisfaction and the two dimensions of switching barriers (perceived switching costs and perceived attractiveness of alternatives) significantly influence customer loyalty. Contrary to findings in earlier studies, it was found that switching costs did not moderate the relationships between satisfaction and loyalty nor between perceived attractiveness of alternatives and loyalty. The paper makes imperative recommendations to develop switching barriers and to foster loyalty along with suggestions for future research.

An Evolutionary Process Model of Cause‐Related Marketing and Systematic Review of the Empirical Literature

Abstract: Cause-related marketing (CRM) is almost ubiquitous as brands of all price points participate in this marketing strategy in the United States and internationally, as well. The value that CRM brings to the firm, the consumer, and the nonprofit organization has made it a popular and valuable tool for marketers. Academic research on CRM has gained momentum in recent years as the strategy has matured. However, insights have occurred without a framework to provide structure and direction for this body of research. Given CRM's continued popularity, the purpose of this article is to (1) propose an evolutionary process model (EPM) of CRM to explain the iterative process (2) utilize this model as a framework for (a) organizing the systematic review of the empirical literature on CRM and (b) for identifying some gaps in the literature. Propositions based on these gaps are provided for future research.

Impacts of Corporate Social Responsibility on the Links between Green Marketing Awareness and Consumer Purchase Intentions

Abstract: This study examines the mediating roles of corporate social responsibility on the links between green marketing awareness and consumer purchase intentions. Data was analyzed using the partial least squares (PLS) approach for the analysis of structural equation models with SmartPLS computer program version 2.0. PLS results revealed that corporate social responsibility partially mediated the link between green marketing awareness and purchase intentions of the product. Consumers develop positive green marketing awareness based on the growing environmental knowledge. They were aware of the green marketing program of the retail store when they noticed that the store allocated specified space to sell eco-friendly products. Furthermore, the companies make their green marketing activities known to the publics by distributing eco-friendly fliers which helps to increase sales revenue, raise consumer awareness, and develop greater intention to purchase the products. The outcomes of the mediating effects of this study add a new momentum to the growing literature and preceding discoveries on consumer green marketing awareness, which is inadequately researched in the Malaysian setting.

Marketing in SMEs: a “4Ps” self-branding model

Abstract: Purpose – The purpose of this paper is to explore the extent to which traditional marketing theory and practice can be applied in small- and medium-sized enterprises (SMEs) and consider how owner-managers perceive their own role in marketing within a small business setting. Design/methodology/approach –A qualitative exploratory approach using semi-structured in-depth interviews amongst owner-managers of SMEs in the UK. Findings – SME marketing is effective in that it embraces some relevant concepts of traditional marketing, tailors activities to match its customers and adds its own unique attribute of self-branding as bestowed by the SME owner-manager. Research limitations/implications – The study was limited to the UK and to a small sample of SMEs and as such the findings are not necessarily generalisable. Originality/value – A “4Ps” model for SME self-branding is proposed, which encompasses the attributes of personal branding, (co)production, perseverance and practice.

Scale development and validation for DART model of value co-creation process on innovation strategy

Abstract: Purpose – The purpose of this paper is to validate scale measurements of dialogue, access, risk assessment and transparency (DART) constructs, as the process of value-co-creation, and then understand its effect on innovation strategy. Further, the paper explores the influence of innovation strategy on the market performance. Design/methodology/approach – The model links four dimensions of DART as building blocks of value co-creation, to the innovation strategy. Further, the model links innovation strategy to the market performance. In total, five hypotheses are postulated. Testing was conducted through structural equation modeling using PLS-SEM, utilizing data from 249 managers of telecommunication companies in Malaysia. Findings – The result of the analysis revealed dialogue, risk assessment and transparency having a significant positive relationship with innovation strategy. These results signified the importance of value co-creation to formulate an innovation strategy of the firms. The finding of the r...

Understanding Digital Marketing—Basics and Actions

Abstract: This chapter provides a technical outline of the basics of online marketing. The outline includes an introduction to digital marketing and strategic planning and development. Our contribution offers theoretical and practical insights relative to this growing marketing area, with information on the main areas for which online marketing is particularly suited: (1) the E-commerce section explores different business models and what techniques are used for their development; (2) Web Search Marketing focuses on SEO and SEM, as well as in keyword selection for optimisation; (3) E-mail Marketing offers interesting content to develop a successful newsletter; and (4) Social Media Marketing addresses planning and the most important tools used to maximise communication through social media. In a nutshell, this chapter offers an overview of digital marketing and its strategies for an active and effective Web presence.

Using big data to model time-varying effects for marketing resource (re)allocation

Abstract: Marketing resource allocation has been a topic of intense scrutiny, yet the literature on the topic has not paid adequate attention to the fact that the effectiveness of marketing-mix elements varies over time. Despite the fact that firms collect volumes of data on their customers, existing estimation approaches do not readily lend themselves to modeling the temporal variations for big data and provide little guidance to managers in terms of their resource allocation decisions. We address this gap and argue that marketing-mix effectiveness varies with the evolution of the consumer-brand relationship and explicitly model these temporal variations using a time-varying effects model (TVEM) that accounts for self-selection of customers into receiving marketing communications and endogeneity of the number of such communications. The proposed TVEM framework handles the complexities associated with big data analytics and provides novel insights for data-driven decision making. We combine transaction data from a Fortune 500 retailer with demographic information obtained from Acxiom Corp for over a quarter million customers to test our framework. The results provide strong support for our proposed framework. Specifically, we find that the influence of marketing mailers, other transaction characteristics (coupon redemption, returns, and cross-buy), and demographic factors (age, income, household size, and interests) on sales varies significantly over the customer life cycle and ignoring such temporal variations can lead to gross misallocation of marketing investments. Specifically, our results suggest that firms can increase their revenues by over 17 percent by just reallocating their resources based on the proposed framework. To facilitate adoption of our proposed framework, we provide guidance and actionable insights for managerial relevance.

Email marketing in the era of the empowered consumer

Abstract: Purpose The purpose of this paper is to clarify why, when and how e-mail marketing can be used to empower consumers and to give ideas for future scholarly research. Design/methodology/approach Systematic literature review studies 41 e-mail marketing and 54 consumer empowerment articles published in variety of academic journals between 1998 and 2014. Findings E-mail allows an active, interactive and personalized communication fulfilling the preferences of an empowered consumer. E-mail marketing can be used to empower consumers by sending e-mails based on permission, by making consumers active participants in the communication process and by making e-mails relevant for the recipients. However, current e-mail marketing strategies need to be updated to get the maximum benefit out of the channel. Research limitations/implications The limitation of the study is the broad domain of research, which hampered the in-depth analysis. However, the study was able to synthesize the scattered literature and create an overall picture of the topic as planned. Practical implications The paper encourages managers to use empowering e-mail marketing strategies and presents several suggestions for future e-mail marketing research. Originality/value The paper uses a new perspective, consumer empowerment as a lens for understanding e-mail marketing. Because e-mail marketing is currently very popular among marketers but is threatened by its negative image among consumers, it is important to understand how e-mail marketing can be developed so that it can also survive in the future.

A dynamic market conceptualization for entrepreneurial marketing: the co-creation of opportunities

Abstract: The entrepreneurial marketing domain should consider opportunity co-creation as a foundational construct for advancing the discipline. This paper integrates emerging views in entrepreneurship with an evolving, service-dominant logic of marketing to develop a market conceptualization for exploring uncertainty in dynamic social and economic environments. With this market conceptualization, opportunities are continually co-created through the development and communication of value propositions, the derivation and determination of value, and the (re)formation of markets. Emerging research around the process of opportunity co-creation is used to create an initial definition and theoretical considerations.

Troubled waters: the transformation of marketing in a digital world

Abstract: Purpose This paper aims to establish how strategic target-market selection decisions are shaped, challenged and driven in response to the rapidly evolving technological landscape. The authors critically evaluate the implications of these changes for the role of marketers and the organizational function of marketing. Design/methodology/approach The research uses qualitative methods. Key-informant interviews are conducted among senior organizational practitioners within client-side organizations, digital agencies and strategic marketing consultancies, seeking to contrast their views. Findings The findings reveal an erosion of responsibility for the integrated strategic role of marketing decision-making. In particular, the authors reveal that the evolving digital landscape has precipitated a sense of crisis for marketers and the role of marketing within the firm. This extends beyond simply remedying a skills-gap and is triggering a transformation that has repercussions for the future of marketing and its practice, thus diminishing functional accountability. Research limitations/implications The findings have long-term implications for marketing as a strategic organizational function of the firm and for marketing as a practice. Originality/value The study considers an increasingly digitalized marketplace and the associated impact of big data for the function of marketing. It reveals the changing scope of strategic marketing practice and functional accountability.

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