Showing papers on "Return on marketing investment published in 2000"

Marketing management: analysis. planning. implementation and control

Abstract: I. UNDERSTANDING MARKETING MANAGEMENT. 1. Understanding the Critical Role of Marketing in Organizations and Society. 2. Building Customer Satisfaction Through Quality, Service, and Value. 3. Laying the Groundwork Through Market-Oriented Strategic Planning. 4. Managing the Marketing Process and Marketing Planning. II. ANALYZING MARKETING OPPORTUNITIES. 5. Marketing Information Systems and Marketing Research. 6. Analyzing the Marketing Environment. 7. Analyzing Consumer Markets and Buyer Behavior. 8. Analyzing Business Markets and Business Buying Behavior. 9. Analyzing Industries and Competitors. III. RESEARCHING AND SELECTING TARGET MARKETS. 10. Measuring and Forecasting Market Demand. 11. Identifying Market Segments and Selecting Target Markets. IV. DEVELOPING MARKETING STRATEGIES. 12. Differentiating and Positioning the Market Offer. 13. Developing, Testing, and Launching New Products and Services. 14. Managing Product Life Cycles and Strategies. 15. Designing Marketing Strategies for Market Leaders, Challengers, Followers, and Nichers. 16. Designing Strategies for the Global Marketplace. V. PLANNING MARKETING PROGRAMS. 17. Managing Products Lines, Brands, and Packaging. 18. Managing Service Businesses and Ancillary Services. 19. Designing Pricing Strategies and Programs. 20. Selecting and Managing Marketing Channels. 21. Managing Retailing, Wholesaling, and Physical-Distribution Systems. 22. Designing Communication and Promotion-Mix Strategies. 23. Designing Effective Advertising Programs. 24. Designing Direct-Marketing, Sales-Promotion, and Public- Relations Programs. 25. Managing the Salesforce. VI. ORGANIZING, IMPLEMENTING, AND CONTROLLING MARKETING EFFORT. 26. Organizing and Implementing Marketing Programs. 27. Evaluating and Controlling Marketing Performance. Author Index. Company/Brand Index. Subject Index.

An examination of selected marketing mix elements and brand equity

Abstract: This study explores the relationships between selected marketing mix elements and the creation of brand equity. The authors propose a conceptual framework in which marketing elements are related to the dimensions of brand equity, that is, perceived quality, brand loyalty, and brand associations combined with brand awareness. These dimensions are then related to brand equity. The empirical tests using a structural equation model support the research hypotheses. The results show that frequent price promotions, such as price deals, are related to low brand equity, whereas high advertising spending, high price, good store image, and high distribution intensity are related to high brand equity.

The Antecedents and Consequences of Customer-Centric Marketing:

Abstract: As we enter the twenty-first century, the marketing function remains concerned with serving customers and consumers effectively. The authors propose that just as the marketing function gradually shifted from mass marketing to segmented marketing in the twentieth century, it will increasingly move toward customer-centric marketing in the next century. In the practice of customer-centric marketing, the marketing function seeks to fulfill the needs and wants of each individual customer. The antecedents of customer-centric marketing are the increasing pressure on firms to improve marketing productivity, increasing market diversity in household and business markets, and technology applicability. On the basis of the shift toward customer-centric marketing, the authors expect increased importance of marketing as a “supply management” function, customer outsourcing, cocreation marketing, fixedcost marketing, and customer-centric organizations. This article highlights the implications of customer-centric marketing as well as the boundary conditions that will affect its adoption.

Internet Marketing: Strategy, Implementation and Practice

Abstract: PART I: INTERNET MARKETING FUNDAMENTALS 1. Introducing Internet marketing 2. The Internet micro-environment 3. The Internet macro-environment PART II: INTERNET STRATEGY DEVELOPMENT 4. Internet marketing strategy 5. The Internet and the marketing mix 6. Relationship marketing using the Internet PART III: INTERNET MAKKETING: IMPLEMENTATION & PRACTICE 7. Delivering the online customer experience 8. Campaign planning for digital media 9. Marketing communications using digital media channels 10. Evaluation and improvement of digital channel performance 11. Business-to-consumer Internet marketing 12. Business-to-business Internet marketing

Advances in the internal marketing concept: definition, synthesis and extension

Abstract: Over 20 years ago internal marketing was first proposed as a solution to the problem of delivering consistently high service quality. However, despite the rapidly growing literature, very few organisations actually implement the concept in practice as there does not, as yet, exist a single unified concept of what is meant by internal marketing. Critically examines the internal marketing concept and delineates its scope by tracing the major developments in the concept since its inception. The literature review suggests three major phases in the development of the concept, namely an employee motivation and satisfaction phase, a customer orientation phase, and a strategy implementation/change management phase. Proposes a definition and a set of core criteria that are essential features of an internal marketing program. Also explores the interrelationship between the proposed criteria and suggests a framework for empirical investigation of the IM concept in the context of services marketing. Discusses managerial implications arising from the proposed definition and model of internal marketing.

Marketing’s contribution to business strategy: market orientation, relationship marketing and resource‐advantage theory

Abstract: Although overlooked to some degree by non-marketing disciplines, the discipline of marketing has contributed significantly to the body of knowledge on business strategy over the last two decades This paper evaluates these contributions, examines how they complement dominant non-marketing theories of business strategy, and shows how marketing offers a generalized theory of competition that integrates the concepts of both marketing and non-marketing theories of business strategy

Relationship marketing in consumer markets – Rhetoric or reality?

Abstract: Relationship marketing (RM) was conceived as an approach to industrial and service markets, and was considered inappropriate in other marketing contexts. Recently, however, the domain of RM has been extended to incorporate innovative applications in mass consumer markets. Much has changed in a few short years. Recent applications of RM in consumer markets have been facilitated by developments in direct and database marketing within an increasingly competitive and fragmented marketplace. This paper presents a critical review of the history of RM in consumer markets, and incorporates important conceptual, practical, empirical and popular contributions. A number of critical issues which remain unresolved are identified in the paper. These form the basis of ten research propositions which are crucial to justifying and advancing the domain extension into consumer markets.

Putting Entrepreneurship into Marketing: The Processes of Entrepreneurial Marketing

Abstract: This paper considers how marketing can be made more appropriate in entrepreneurial contexts by proposing a conceptual model of the processes of marketing as undertaken by entrepreneurs. Although marketing is a key factor in the survival and development of business ventures, a number of entrepreneurial characteristics seem to be at variance with marketing according to the textbook. These include over‐reliance on a restricted customer base, limited marketing expertise, and variable, unplanned effort. However, entrepreneurs and small business owners interpret marketing in ways that do not conform to standard textbook theory and practise. An examination of four key marketing concepts indicates ways in which entrepreneurial marketing differs from traditional marketing theory. Entrepreneurs tend to be “innovation‐oriented”, driven by new ideas and intuitive market feel, rather than customer oriented, or driven by rigorous assessment of market needs. They target markets through “bottom‐up” self‐selection and recommendations of customers and other influence groups, rather than relying on “top‐down” segmentation, targeting and positioning processes. They prefer interactive marketing methods to the traditional mix of the four or seven “P’s”. They gather information through informal networking rather than formalised intelligence systems. These processes play to entrepreneurial strengths and represent marketing that is more appropriate in entrepreneurial contexts, rather than marketing which is second best due to resource limitations.

Value-based marketing

Abstract: Marketing has not had the impact on the boardroom that its importance justifies. A major reason is that today's top management are focused on shareholder value. Surprisingly, marketing has never sought to align itself to this goal, even though effective marketing is the central determinant of returns to investors. This paper explores how marketing creates value and shows how shareholder value analysis can be used as a powerful technique for developing and justifying marketing strategies.

Understanding the relationships among brands, consumers, and resellers

Abstract: This article examines the historical evolution of the relationships among brands, consumers, and resellers in a world increasingly dominated by very large retail organizations with substantial power within the marketing channel. It is widely believed that manufacturers' brands are becoming less important as major retailers are becoming more powerful. This view is based on the mistaken assumption that brands are relationships with consumers, not resellers. Arguments about the decline of brands are often confused with arguments about changes in the brand management function. As major firms redefine their customer as the reseller, not the consumer, there are substantial implications for brand management and the role of the brand manager. Marketing strategy implementation will require increasingly careful coordination of marketing programs with sales strategy to achieve the necessary coordination of reseller- and consumer-targeted communications to maximize the value of the brand to both the retailer and the end user.

Toward effective use of cause‐related marketing alliances

Abstract: Companies have become increasingly active in developing relationships between their brands and popular causes in such areas as the environment (e.g. nature conservancy) and health issues (e.g. breast cancer awareness crusade). As such alliances become a more important strategic component of the brand’s marketing mix, managers seek direction as to how to generate the most impact with these tie‐ins. This article uses associative learning principles as a framework for understanding how to facilitate building connections between brands and causes so as to increase the value of this highly visible marketing activity. Specific associative learning principles are detailed and applied, improving the use of cause‐related marketing alliances.

Marketing on the internet - who can benefit from an online marketing approach

Abstract: The research builds upon the literature in electronic commerce and past research in marketing with the objective of understanding factors that impact a product's adaptability to online marketing. A review of marketing channel choice literature reveals a set of factors and channel choice functions that are considered important in making channel decisions. Using this as a basis, four major channel functions, namely, product customization, availability, logistics, and transaction complexity are considered relevant in understanding the implications for Internet marketing. By building upon previous research in the area of channel selection, we provide a means of classifying Internet marketing initiatives based on product characteristics. The classification scheme based on product characteristics can help analyze the significance of each factor on the success of a firm's online marketing approach. Further, the classification scheme is used to discuss decision support implications.

Viral Marketing - Establishing Customer Relationships by 'Word-of-mouse'

Abstract: Newcomers to electronic markets are forced to accumulate customers as rapidly as possible. One strategy to fulfil this aim is so called viral marketing, which seems an appropriate term for describing the pattern in which Internet companies spread by making use of customer referrals. The aim of this article is to describe and explain common features of viral marketing strategies and to outline chances and risks associated with using Internet word-of-mouth in consumer settings.

Beyond relationship marketing: technologicalship marketing

Abstract: Argues that relationship marketing is not a complete paradigm shift Without effective use of technology, relationship marketing is not an effective strategy Hence, relationship marketing, based on technological advances, can be considered as a new paradigm It is demonstrated that everything companies do to build consumer loyalty is affected by technology It is shown that traditional, relationship, and technologicalship marketing are fundamentally different The technologicalship marketing allows for different types of synergy effects, solutions, different customers, and different types of interactions and relationships

Marketing at the Interface: Not ‘What’ but ‘How’

Abstract: The purpose of this paper is to contribute to theory at the marketing/entrepreneurship interface. Consideration is given to the unique characteristics of SMEs and the unique nature of marketing in small firms given that marketing is performed differently in SMEs than in large firms. This paper offers a conceptual model of SME marketing that illustrates how it is different to the conventional descriptions and practices espoused in the textbook literature. A step-by-step process of determining how SMEs do marketing in context is described.

Relationship Marketing: New Strategies, Techniques and Technologies to Win the Customers You Want and Keep Them Forever

Abstract: Preface Acknowledgements Chapter 1: Marketing is Dead Long Live Marketing The Marketing Challenge: The Relationship Marketing Solution 1. Time Horizon 2. Market Segmentation 3. Product or Service Design 4. Market Research 5. Marketing Communications 6. Customer Service 7. Pricing What is Relationship Marketing 1. Using Technology to Communicate with and Serve Individual Customers 2. Growing Through Scope and Partnering 3. Customer Selection and Rejection 4. Chains of Relationships 5. Rethinking the 4 Ps of Marketing 6. Using Relationship Managers to Manage the Relationship What Relationship Market is NOT Marketing Relationship Selling Database Marketing Loyalty Marketing Partnering The Eight Components of Relationship Marketing 1. Culture and Values 2. Leadership 3. Strategy 4. Structure 5. People 6. Technology 7. Knowledge and Insight 8. Process The Enablers of Relationship Marketing 1. Manufacturing Technology 2. Customer Knowledge 3. Customer Access Chapter 2: Relationship as Strategy Market Segments and Individual Customers Digitalization of the Marketing Mix New Roles for the Marketer Focus on Strategic Capabilities Economics of Data Strategic Capabilities for Relationship Marketing Business Is People Business Is Process Business Is Technology Business Is Knowledge and Insight Chapter 3: Making the Case for Relationship Marketing Is Relationship Marketing a Good Idea Does Relationship Marketing Fit With Our Strategies Marketing Strategies in the 1960s Marketing Strategies in the 1970s Marketing Strategies in the 1980s Marketing Strategies in the 1990s Is Relationship Marketing Part of Our Customers' Future What Are the Barriers to Relationship Marketing Will Relationship Marketing Create Additional Shareholder Value The Value-Driver Model New Value from Current Customers The Value of Growth Opportunities Calculating the Financial Benefits of Relationship Marketing Money Making Strategies Calculating the Lifetime Value of a Customer Questions to Ask Issues to Be Considered Information Technology Support Approaches Chapter 4: Customer Bonding A Customer Is Not a Customer Categories of Customer Bonding Bonding Staircase Issues The Shape of the Customer Profile Levels of Customer Bonding 1. Structural Bonding 2. Brand Equity Bonding 3. Attitudinal Bonding 4. Personal Bonding 5. Information and Control Bonding 6. Value Bonding 7. Zero Option Bonding Chapter 5: Consumer Versus Business Relationships Consumer Versus Business-to-Business Market Places Good and Services Market Structure Distribution Channels Decision-Making Criteria Decision-Making Process Buyer-Seller Relationship Reciprocity Mutual Value Creation One-Way Relationships Brand Equity Chapter 6: Planning for Better Relationships Phase 0: Plan for a Plan Phase 1: Customer Assessment Phase 2: Benchmarking Phase 3: Company Assessment Phase 4: Statement of Opportunity Core Customers, Processes and Capabilities Positioning for Relationship Marketing Does the Customer Merit Relationship Marketing Attention Preconditions for Relationship Marketing Phase 5: Future State Identify the Gaps Strategies to Close the Gap and Capture the Vision Check Your Assumptions Involve Your Customers in the Vision Overcoming Barriers to Change Phase 6: Business Case Risks to Attainment Phase 7: Change Management and Implementation The Governance Process of Change Management Measure How You Are Doing Chapter 7: Technology for Relationship Marketing Technology Changes Everything 1. Customer 2. Categories 3. Capabilities 4. Cost, Profitability and Value 5. Control of the Contract to Cash Processes 6. Collaboration and Integration 7. Customization 8. Communications, Interaction and Positioning 9. Customer Measurements 10. Customer Care 11. Chain of Relationships The Changing Roles for Technology 1. The Internet 2. Computer Telephony Integration 3. Data Warehouses Chapter 8: Customizing for the Masses Preconditions for Mass Customization 1. Individual Needs and Preferences 2. Assembling Unique Offerings 3. Customer Appreciation 4. Adaptable Technology and Processes 5. Support Intermediaries and Suppliers A Range of Approaches to Mass Customization Customization Versus Standardization of Product, Service and Communications Developing a Mass-Customization Strategy Assessment of Mass Customization A Mass-Customization Plan Insource or Outsource Each Component of Mass Customization Chapter 9: Building a Chain of Relationships Relationships with Investors/Owners and Financial Institutions Conditions for Relationship-Driven Progress Companies and Financial Value Relationships with Distribution Channel Intermediaries How to Build the Relationship Relationships with Employees Employee Skills Increasing Scope Challenges Traditional Job Descriptions Employee Trust Important Trustworthy Leaders Relationship with Suppliers Essential Ingredients Opening Up Relationships with Coventure Partners Customer Access Models for Collaboration Management and Control for the Chain of Relationships Challenges The New Role of Management Measurement Issues Chapter 10: The Relationship Marketing Company of Tomorrow Relationships Determine Future Success Connections Will Become More Fluid Relationships Can Extend the Duration and Value of Connections Relationships Will Increasingly Require More Investment in Strategy Customer Mix Focus Access Bonding Collaboration Chain of Relationships Novelty Customer's Customer Relationships Will Also Depend More on Flexible Capabilities The Customer Data Warehouse Is Only the Beginning Involve Users in Process Design Structure Follows Strategy and Process The President's Role Benefits of this Approach Stop Along the Road to the Future 1. Changing Customer Expectations 2. Segment Customer, Not Markets 3. Best Customers Deserve Best Value 4. Value Provided to Customers Depends on the Chain of Relationships 5. Data, Data, Data 6. Technology for Mass Customization 7. Board and Investor Support Needed 8. Recognition and Reward for Teamwork 9. Relationships and Capabilities, Not Silos 10. Organize by Relationship and Capability Index

Correlates of Integrated Marketing Communications

Abstract: The objective of this research was to identify factors that are significantly related to the degree of integration of a company9s marketing communications activities. A three-item scale was developed to measure integrated marketing communications in a cross-sectional sample of senior marketing managers in U.S. companies. Results show that firms whose marketing communications programs tend to be integrated are also likely to be small, consumer-focused, service-oriented companies. They are also more common in manufacturing, agriculture, forestry, and mining industries. Managers in firms with greater integration also tend to be more experienced, and their products or services are more likely to be experiencing market share growth. Implications of these findings for marketing communications managers and researchers are then discussed.

Entrepreneurial marketing: a conceptualisation from qualitative research

Abstract: Proposes a conceptualisation of “entrepreneurial marketing” based on the practices of successful entrepreneurs. The methodology took account of specific issues in researching entrepreneurs such as lack of common understanding of management terms, and the influence of ego on participants’ responses. Depth interviews used critical incident technique to elicit accounts from entrepreneurs of their marketing practices. Focus groups supplemented individual interviews to test the candour of responses. The results indicated that successful entrepreneurs undertake marketing in unconventional ways. They tend to focus first on innovations, and only second on customer needs. They target customers through a bottom‐up process of elimination, rather than deliberate segmentation, targeting and positioning strategies. They rely on interactive marketing methods communicated through word‐of‐mouth, rather than a more conventional marketing mix. They monitor the marketplace through informal networks, rather than formalised ma...

International relationship marketing ‐ The importance of psychic distance

Abstract: This conceptual paper outlines why, when working in the international as opposed to the domestic environment, the success of a relationship marketing strategy is heavily dependent on levels of psychic distance. The higher the level of psychic distance, the greater the time and effort required to develop successful business relationships. At the different stages of relationship development, different variables of psychic distance assume relatively greater levels of importance which are likely to have implications for the implementation of a relationship marketing strategy.

Global corporate visual identity systems: using an extended marketing mix

Abstract: Designers have used Corporate Visual Identity Systems (CVIS) to widen the communications mix. Using name, symbol and/or logo, typography, colour and slogan, a CVIS helps transmit a company’s visual identity through fixed assets, such as buildings, vehicles and other business collateral. This wider view of business communications adds an eighth P, publications, to the seven Ps of service marketing: product, price, place, promotion, participants, physical evidence and process. Managerial literature suggests that firms who standardise their CVIS anticipate communications benefits beyond the usual marketing mix. A comparison of multinational companies with and without standardised CVIS supports this view.

Theoretical Concept or Management Fashion?: Examining the Significance of IMC

Abstract: This article looks at the status of IMC (Integrated Marketing Communications) as a theory within the academic study and discipline of marketing communications, and its relationships with, and influence upon its practice. The authors conclude that IMC as a theoretical concept is ambiguous (thus unproven), but its reality as a marketing fashion (with implications for management techniques) is well founded.

Business Marketing Comes of Age : A Comprehensive Review of the Literature

Abstract: Since 1978 business marketing has seen a great deal of research activity. It is reasonable to ask whether this has led to advances in theory development and a general increase in our level of knowledge of business marketing. This article reviews the business marketing literature from 1978–1997 from twenty-three journals, five sets of proceedings, and selected books of articles in an attempt to answer that question. Over two thousand articles were examined to assess the current state of the field and suggest directions for future development. As the sheer number of articles since 1978 would suggest, the field of business marketing has attracted a considerable amount of attention. Close examination of the past twenty years of research, however, clearly indicates that certain areas have received a disproportionate share of the research effort. Organizational buyer behavior, strategy and planning, and sales management accounted for over forty percent of the articles published. Important areas such as...

Internal relationship marketing: a strategy for knowledge renewal

Abstract: A retail banking case study published in this journal ten years ago described a method for inviting staff involvement in customer service improvement. In this article, the author has reinterpreted the case as an archetypal example of internal marketing for generating and circulating staff knowledge through a network of voluntary internal relationships. First, a typology for making sense of conflicting concepts in the internal marketing literature is provided. Second, the author returns to the case data to suggest an integrated theoretical framework for internal marketing that links the parallel but distinctive traditions of relationship marketing and the markets‐as‐networks approach of the International Marketing and Purchasing (IMP) Group. Third, internal marketing is defined as a relationship development strategy for the purpose of knowledge renewal. Finally, the implications for management are examined.

Barriers to relationship marketing in consumer retailing

Abstract: This study focuses on the potential difficulties in implementing a relationship marketing strategy within a retail context. We suggest that a number of attributes characterise the nature of the service and market structure are influential in an organisation’s ability to implement relationship marketing. Specifically, these are balance of power; level of involvement with the purchase; professionalism of the service provider; and level of personal contact. Seven dimensions central to relationship marketing in a retail context are derived from the literature. Via survey research, these are evaluated in four service contexts, namely: hairdresser/barber; optician; recreation centre; and supermarket. Findings indicate that because of the influence of the four factors identified above, hairdressers, opticians, and recreation centres are more likely to operate in conditions that give greater support to the development of relationship marketing.

Educator Insights: Standardization or Adaptation of the International Marketing Mix: The Role of the Local Subsidiary/Representative:

Abstract: In this article, the author suggests that the standardization versus customization issue in international marketing has important organizational aspects that are often neglected in the literature. The author parts from the traditional culture and economies of scale approaches by introducing a taxonomy of international marketing organizations based on headquarters versus subsidiary decision power and on market knowledge at headquarters. The author then suggests a typology of organizational solutions—local baronies, civil war, confederation, and federation—and describes two case studies to illustrate how firms “travel” in the model. Finally, the author develops several propositions and discusses managerial implications.