Showing papers on "Return on marketing investment published in 1979"

Exceptional Paper---ADVISOR 2: Modeling the Marketing Mix Decision for Industrial Products

Abstract: This paper reports the results of the ADVISOR 2 study, aimed at providing an understanding of and guidance for marketing mix decisions for industrial products. The study involved 22 companies and 131 products. Although cross-sectional in nature, justification is presented for using the descriptive results as guidelines for marketing mix decisions. Models are presented for advertising expenditures, marketing expenditures, marketing budget allocations, year-to-year changes in advertising spending and for selection of distribution channels. The level of marketing expenditures and the split of marketing into advertising and personal setting are shown to be affected by a few, general product and market characteristics of which product sales and the number of customers are key. It is shown that it is fruitful to study the advertising budget as advertising = advertising/marketing × marketing; i.e., a marketing budget is set and then a split of that budget into personal and impersonal communications is made. This two-stage view clarifies the role of different product and market characteristics in the models. The change in advertising spending is related to changes in market share, changes in product plans and changes in the number of competitors modified by the number of customers, their concentration and the size of the advertising budget. The decision to use a direct channel of distribution primarily salesforce is affected by the size of the firm, the size of an average order, the stage in the product's life cycle, the complexity of the product, the fraction of the product's sales made-to-order and the purchase frequency of the product. A discussion of the use of the ADVISOR models both for marketing decision making and for marketing researchers and model builders is included.

The Marketing of Professional Services — An Organizational Dilemma

Abstract: Investigates the role of the professional in a firm offering professional services aiming to answer the questions of: what marketing activities the professional might use; what proportion of his/her time should be divided into what areas; and how marketing sales and costs might be calculated. Looks at current practices in this area, and attempts to find conceptual frameworks to guide professional service firms in the marketplace.

The marketing environment

Abstract: Europe has long been a huge economic force, accounting for more than 40 per cent of world trade. However, its own market remained a complex web of internal non-tariff barriers until the Single European Market (SEM) project took shape in the mid-1980s. The effects of the SEM will take time to make their full impact, but it is clear that for many industries the new structure is having radical implications. Industries that were built on nationally regulated frameworks, such as financial services, or those that lived on contracts from their own governments, such as telecommunication, are experiencing enormous change. The national markets for public procurement contracts have, or soon will have, become open competitive markets on a European scale. Companies with strategies based on serving local markets protected by physical and regulatory barriers to trade now have to deal with direct international competition. Start up companies and those with growth objectives can aim for an EU market of almost 350 million people to support marketing strategies based on low-cost and ‘world class’ product quality. European consumers increasingly view the same media, listen to the same music, respond to similar fashion trends and are ever more aware of each others’ consumption behaviour. Europe is in transition — as perhaps it has always been - but especially now with the added pace and urgency of the SEM programme and with the changes in political and social values that lie behind it. In so far as business success relies on well-judged adaptation to a changing environment, the 1990s is a decade in which environmental responsiveness will be vital. In so far as marketing is the mana?gerial function with special responsibility for reading and interpreting the environment, it is also a critical decade for marketing practitioners.

Industrial Salesmen as a Source of Marketing Intelligence

Abstract: States that salespeople are increasingly taking on a dual role — not only of selling, but also in gathering intelligence from the marketplace. Presents three case histories of different companies, showing how they use the knowledge of their salespeople in product development, sales forecasting and other planning areas. Suggests that much information can be accrued from the salesforce of a company, which, if made good use of, could lead to better market planning.

Industrial Marketing as an Organizational Problem: A Case Study

Abstract: Aims to identify possible marketing effects of a change in organizational design within the marketing function of an electrical equipment supplier on the international market. Develops a theoretical framework which can, it is claimed, be used in other practical decision situations.

Can you standardize international marketing strategy

Abstract: The intent of this paper is to examine the possibilities for standardization of marketing elements within a multinational marketing strategy. A majority view among international marketers is that each national is unique, and thus each must be treated as a separate and independent operation. This “localized” strategy view is examined first. A growing number of international marketers however, are finding that by standardizing various elements oftheir marketing strategy across national borders, cost savings and/or increased revenues to be realized can yield greater profits. The second, and major, part of the paper examines the opportunities for and potential benefits of standardization of product, packaging, advertisting, and pricing.

Marketing research in health services planning: a model.

Abstract: A marketing research model is proposed which can be incorporated into the health services planning process at the institutional level. The nature of marketing is examined in order to identify the benefits of a marketing research model comprising: l) marketing as by definition consumer-responsive; 2) marketing in the health sector; 3) approaches to the planning sequences; 4) integrating of consumer research and management planning; 5) the marketing model applied; and 6) identifying problem parameters through qualitative studies quantitative studies and planning implementation and evaluation. It is concluded that in a marketing approach to planning problems are defined and studies designed in the sequence presented. This sequence involves: l) identifying parameters of the problem by using qualitative research techniques; 2) describing the characteristics and current behavior of participants in the health care system; and 3) analyzing trends and relationships to identify meaningful segments of consumers and to forecast future behavior and health care service utilization patterns of specific segments. Although in many respects this approach may seem obvious differences are distinct and market research information dictates the resultant strategy decisions of the organization. Planning and research are not separate activities but rather are both part of a process of actions beginning with consumer research and ending with an appropriate service mix for the various publics of health care organizations. With implementation of plans and feedback from evaluation or control procedures this set of activities becomes a dynamic process that can more effectively and rapidly adjust to factors that affect program success.

Influencing Buyer Behaviour: Processes and Strategies

Abstract: Posits that the buying decision is influenced by extra‐personal persuasion and the intra‐personal influence of a buyer's personal behaviour. Suggests that the creative design of marketing is dependent on an understanding of these two processes which, it is revealed, can lead to a remarkably different market response.

Toward a Professional Marketing Education

Abstract: This paper illustrates four approaches to providing a pro fessional marketing education: academic specialization, con tent relevance, student membership in professional organiza tions, and career planning. Academic specialization is a career-track individualized program in one of the following areas: advertising, inter national marketing, marketing to professional buyers, market ing research, retail management, or transportation and dis tribution management, Content relevance is achieved using cases and the creation of a marketing plan. Other opportunities for relevance include the Small Business Institute Program, consulting with business executives, and work experience. Each student completes a career-plan project and a seminar to develop behavioral skills to enhance the process of find ing employment.

Marketing and Business Development

Abstract: The management practice of marketing, which can be defined as the identification of a target clientele, the development of specific products, and their pricing and distribution to the selected range of customers, is a relative newcomer to the field of banking in general and international banking in particular. In their traditional mode as described in Chapter 4, bankers considered themselves as purveyors of services required by customers and lenders of short-term funds to finance trade, at the request of such customers, on a virtually risk-free basis. Other international banks were collaborators and sources of useful business.

An Appraisal of Multi-Attribute Utility Models in Marketing

Abstract: Looks at the marketing literature on the subject of multi‐attribute utility models. Reviews the multiple objective and multi‐dimensional preference models within the framework of multiple attribute utility theory. Suggests that much of the research in this area has been information‐ rather than decision‐oriented and, as a result, this has not been integrated successfully into the field of strategic marketing policy‐making.

A Personal Marketing Strategy Approach: Framework and Application

Abstract: The concept of marketing is increasingly being applied in many different areas. The application of some of the fundamental marketing concepts to the individual is discussed in this paper. Students in three retailing classes studied how the marketing strategy concept could be applied to them. They investigated important uncontrollable variables, analyzed the market (a retailer), and then applied the marketing mix variables to themselves. In effect, they were the products! services to be marketed.