Showing papers on "Return on marketing investment published in 2011"

Service as business logic: implications for value creation and marketing

Abstract: Purpose – The purpose of this article is to analyze the scope, content and nature of value co‐creation in a service logic‐based view of value creation, addressing the customer's perspective in a supplier‐customer relationship. The nature of the activities and the roles of the supplier and the customer in value creation and co‐creation are analyzed. Furthermore, the purpose is to discuss what implications for marketing can be derived from this analysis.Design/methodology/approach – The article analyzes the marketing implications that follow from the pivotal role of interactions in service provision. The article, thus, builds on a long history in service marketing research pointing at the impact on the content and scope of marketing of customer‐supplier interactions.Findings – In this article, it is concluded that creating customer value is a multilaned process consisting of two conceptually distinct subprocesses. These are the supplier's process of providing resources for customer's use and the customer's ...

Closing the Marketing Capabilities Gap

Abstract: Marketers are being challenged by a deluge of data that is well beyond the capacity of their organizations to comprehend and use. Their strategies are not keeping up with the disruptive effects of technology-empowered customers; the proliferation of media, channel, and customer contact points; or the possibilities for microsegmentation. Closing the widening gap between the accelerating complexity of their markets and the limited ability of their organizations to respond demands new thinking about marketing capabilities. Three adaptive capabilities are needed: (1) Vigilant market learning that enhances deep market insights with an advance warning system to anticipate market changes and unmet needs, (2) adaptive market experimentation that continuously learns from experiments, and (3) open marketing that forges relationships with those at the forefront of new media and social networking technologies and mobilizes the skills of current partners. The benefits of these adaptive capabilities will only ...

Green marketing strategies: an examination of stakeholders and the opportunities they present

Abstract: As green marketing strategies become increasingly more important to firms adhering to a triple-bottom line performance evaluation, the present research seeks to better understand the role of “green” as a marketing strategy. Through an integration of the marketing, management, and operations literatures, an investigative framework is generated that identifies the various stakeholders potentially impacted through the environmentally friendly efforts of a firm. Specifically, the inter-connected nature of the core business disciplines of marketing, management (both strategy and human resources), and operations are examined as controllable functions within an organization from which strategies can be enacted to affect a firm’s stakeholders. The prior research in these areas is examined to identify potential research opportunities in marketing while also offering a series of representative research questions that can help guide future research in marketing.

Investigation of Social Media Marketing: How Does the Hotel Industry in Hong Kong Perform in Marketing on Social Media Websites?

Abstract: The purpose of this study is to investigate the extent to which social media marketing is being utilized in the Hong Kong hotel industry. Marketing performance of 67 hotels in Hong Kong on 23 social media sites was evaluated according to 18 criteria adapted from past studies. The results indicate that hotels generally have a poor performance in using social media to learn about customers. Major problems regarding the hotels' social media marketing efforts are identified. Implications behind these problems and recommendations for improvement are made accordingly.

Improving customer-focused marketing capabilities and firm financial performance via marketing exploration and exploitation

Abstract: Evidence within the marketing literature has shown that marketing capabilities are important drivers of firm performance. However, very little is known about how firms improve their marketing capabilities via the embedding of new market knowledge. Organizational learning theory provides us with a theoretical lens through which we can examine how existing customer-focused marketing capabilities may be improved and new customer-focused marketing capabilities may be created via marketing exploitation and exploration capabilities. In addition, this study investigates whether ambidexterity in marketing exploration and exploitation exists and finds that firms cannot do both at high levels without risking a negative impact on customer-focused marketing capabilities. This study also presents findings demonstrating how improving the two customer-focused marketing capabilities in our study, brand management and customer relationship management, impacts objective financial performance.

An integrative model for social marketing

Abstract: Purpose – Social marketing has evolved differently in the developing and developed worlds, at times leading to different emphases on what social marketing thought and practice entail. This paper aims to document what those differences have been and provide an integrative framework to guide social marketers in working with significant social and health issues.Design/methodology/approach – An integration of views about social marketing is proposed that is focused on the core roles of audience benefits; analysis of behavioral determinants, context and consequences; the use of positioning, brand and personality in marketing strategy development; and use of the four elements of the marketing mix to tailor offerings, realign prices, increase access and opportunities; and communicate these in an evolving media environment.Findings – Ideas about branding and positioning, core strategic social marketing concerns, have been better understood and practiced in developing country settings. Social marketing in developi...

A framework for sustainable marketing

Abstract: This article examines how sustainable marketing could be achieved through the contribution of three existing marketing sub-disciplines; green marketing, social marketing and critical marketing. Green marketing facilitates the development and marketing of more sustainable products and services while introducing sustainability efforts into the core of the marketing process and business practice. Social marketing involves using the power of marketing to encourage sustainable behaviour among individuals, businesses and decision makers while also assessing the impact of current commercial marketing on sustainability. This links into the critical marketing paradigm which entails analyses of marketing theory, principles and techniques using a critical theory based approach. This analysis can help to guide regulation and control, development of marketing theory and practice, and to challenge the dominant institutions associated with marketing and the capitalist system, encouraging a marketing system in which sust...

Developing more effective social marketing strategies

Abstract: Purpose – The reason for this paper is to better understand why many social marketing campaigns produce poor results and to propose a model to guide social marketing strategic planning to improve program outcomes.Design/methodology/approach – This is a conceptual paper which discusses a new social marketing model to remove upstream causes of target social problems.Findings – It appears that social marketing planning may be limited by over‐reliance on commercial marketing tactics and an over‐emphasis on individual behavior change. Finding upstream sources of social problems is a first step. However, social marketers must be willing to employ tactics to ameliorate structural, upstream causes of social problems.Research limitations/implications – The social marketing field needs to further its developmental progress by reducing its use of commercial marketing concepts and increasing its use of concepts from other fields like public health, political science, and social movements.Practical implications – Prac...

Where is the opportunity without the customer? An integration of marketing activities, the entrepreneurship process, and institutional theory

Abstract: Marketing and entrepreneurship have long been recognized as two key responsibilities of the firm. Despite their tight integration in practice, marketing and entrepreneurship as domains of scholarly inquiry have largely progressed within their respective disciplinary boundaries with minimal cross-disciplinary fertilization. Furthermore, although firms increasingly undertake their marketing and entrepreneurial activities across diverse settings, academe has provided little insight into how changes in the institutional environment may substantially alter the processes and outcomes of these undertakings. Herein, we integrate research on marketing activities, the entrepreneurship process, and institutional theory in an effort to address this gap. We first discuss market orientation as enhancing a firm’s opportunity recognition and innovation, whereas marketing mix decisions enhance opportunity exploitation. We then examine how entrepreneurship leads to innovation directed toward market orientation and marketing mix activities. Based on this foundation, we examine differences in marketing and entrepreneurship activities across institutional contexts.

Measuring Success in Place Marketing and Branding

Abstract: As the competition between them increases, cities focus more and more on establishing themselves as brands. Consequently, cities invest an extensive amount of taxpayers’ money into their marketing activities. Unfortunately, cities still lack a proper success measurement, which has raised questions regarding the efficient and effective use of taxpayers’ money. With this contribution, we want to highlight some existing, but primarily new, possibilities for a complex success measurement in place marketing, referring to the extant literature on place marketing and the general field of marketing. Therefore, we strive to translate different concepts such as customer equity or customer satisfaction into the lexicon of place marketing, thus identifying empirical gaps for further research, as well as existing fruitful approaches.

Digital Marketing: The Time for a New “Academic Major” Has Arrived:

Abstract: The rapidly emerging digital economy is challenging the relevance of existing marketing practices, and a radical redesign of the marketing curriculum consistent with the emerging student and business needs of the 21st century is required. To remain relevant to our students and to the ultimate consumers of our output, businesses, the marketing curriculum must evolve with both the changing technological environment and the way marketing is perceived by its own academic architects. After an overview of recent marketing trends, this article describes the need for a fundamental change in the teaching of marketing in today’s environment, performs a curriculum audit of existing digital marketing initiatives, and then details a new curriculum reflective of marketing in a digital age and an approach to implement it. Finally, the new major is discussed in the context of specific challenges associated with the new age of marketing. The approach developed here provides other universities a target to serve as one meas...

Practice Prize Paper---Marketing's Profit Impact: Quantifying Online and Off-line Funnel Progression

Abstract: Inofec, a small-to medium-sized enterprise in the business-to-business sector, desired a more analytic approach to allocate marketing resources across communication activities and channels. We developed a conceptual framework and econometric model to empirically investigate 1 the marketing communication effects on off-line and online purchase funnel metrics and 2 the magnitude and timing of the profit impact of firm-initiated and customer-initiated contacts. We find evidence of many cross-channel effects, in particular, off-line marketing effects on online funnel metrics and online funnel metrics on off-line purchases. Moreover, marketing communication activities directly affect both early and later purchase funnel stages website visits, online and off-line information, and quote requests. Finally, we find that online customer-initiated contacts have substantially higher profit impact than off-line firm-initiated contacts. Shifting marketing budgets toward these activities in a field experiment yielded net profit increases 14 times larger than those for the status quo allocation.

Green marketing strategy and the firm's performance: the moderating role of environmental culture

Abstract: Following the natural-resource-based view of the company, this study analyses how green marketing strategy influences different dimensions of organizational performance In this task, it also studies how the integration of the environmental values within the firm's internal culture determines the effect of green strategies on performance To meet these aims, the present research collects data from 361 manufacturing firms of a European country Structural equation modelling with EQS software was the method applied to analyse the information The findings indicate that green marketing strategy led firms to improve their profitability by optimizing marketing performance and reducing costs However, dimensions of organizational results, like process performance, are not positively related to economic success They also reveal that environmentally oriented firms are more likely to achieve a superior operational and marketing performance from environmental practices

Bridging the Academic–Practitioner Divide in Marketing Decision Models:

Abstract: The marketing decision models field has produced many striking developments that have had a dramatic impact on practice. However, the field has produced orders of magnitude more developments that have received minimal use. In this article, the author notes the many successful marketing model developments but then considers the relatively low level of practical use (trial or adoption) and questions why that is the case. He then suggests how changes in the incentive and reward systems for marketing academics, marketing practitioners, and marketing intermediaries can bring about adoption and implementation improvements that would be mutually beneficial, bridging the academic–practitioner divide. The author also outlines a program of research in the area of the adoption and use of marketing decision models that will provide guidance on what to develop and how to get those developments adopted.

The Dynamics of Search Engine Marketing for Tourist Destinations

Abstract: Search engine marketing (SEM) has become an important strategic tool for online destination marketing. Because of the dynamic relationships among travelers as information searchers, search engines, and the online tourism domain, the authors argue that a new dynamic model must be developed that captures these relationships to better inform SEM practices. The goals of this paper are twofold: (1) to synthesize research related to SEM in tourism and related fields and (2) to present a model that describes the evolving dynamics in search engine marketing. The implications of the model for tourism marketing and research are discussed.

Corporate marketing myopia and the inexorable rise of a corporate marketing logic

Abstract: Purpose – This article outlines the nature of corporate marketing myopia and details the salient characteristics of a corporate marketing logic. The notion of identity‐based views of the firm is held to be highly meaningful to the comprehension of corporate marketing. In addition, the paper aims to broaden the understanding of the antecedents of corporate marketing by making reference to earlier, integrative endeavours (sensory integration, design integration, communications integration, branding integration and identity integration).Design/methodology/approach – The commentary explains the nature, antecedents, and benefits of an organisation‐wide corporate marketing logic.Findings – A corporate marketing logic characterises those organisations which realise their institutions and corporate brands can be important sources of differentiation. Moreover, it is held that organisations need to be involved in multi‐lateral relationships vis‐a‐vis customers, other stakeholders and with society at large. It is al...

How Can Marketing Academics Serve Marketing Practice? The New Marketing DNA as a Model for Marketing Education.

Abstract: This article seeks to address how marketing academics can best serve marketing practice through marketing education. It is contended that, where technology is driving marketing in practice, it is a...

Entrepreneurial marketing: a strategy for the twenty‐first century?

Abstract: Purpose – The purpose of this paper is to present the author's view of the role of entrepreneurial marketing (EM) as a strategy to address the dynamic marketing environment of recent times.Design/methodology/approach – The author reflects on some significant marketing changes and provides some contemporary example of companies that have successfully adopted EM approaches and challenged traditional marketing wisdom.Findings – EM is best conceived not as a nexus between marketing and entrepreneurship, but as an augmented process, where both the entrepreneur and the customer are the core actors, co‐creating value within the marketing environment.Originality/value – While this is an opinion piece, the paper provides evidence of how EM can be adopted and applied by entrepreneurial firms and challenges marketers to create and control their own‐marketing environment.

Social marketing's mythunderstandings

Abstract: Purpose – Unlike other sub‐areas of marketing, such as sports marketing, business‐to‐business marketing or even religious marketing, social marketing attracts a very diverse group of disciples, many of whom have little or no background in the discipline of commercial marketing. At the same time, many with a commercial marketing background have a limited understanding of the social and environmental determinants of health and well‐being and tend to be focused on consumer marketing techniques for a situation where there is wide distribution of product and service offerings and where most target audiences have enough money to make a purchase. These circumstances have resulted in a number of myths and misunderstandings being expressed by “social marketers” which could negatively impact on the practice of social marketing and hence the effectiveness of campaigns described as such. The aim of this paper is to describe and dispel eight “mythunderstandings” commonly expressed by social marketing practitioners and...

Academic Roots: The Past and Present of Entrepreneurial Marketing

Abstract: Research in entrepreneurial marketing is about 30 years old. During this period research has followed many trajectories. Two important but divergent routes are small business marketing and entrepre...

Practice Prize Winner---Dynamic Marketing Budget Allocation Across Countries, Products, and Marketing Activities

Abstract: Previous research on marketing budget decisions has shown that profit improvement from better allocation across products or regions is much higher than from improving the overall budget. However, despite its high managerial relevance, contributions by marketing scholars are rare. In this paper, we introduce an innovative and feasible solution to the dynamic marketing budget allocation problem for multiproduct, multicountry firms. Specifically, our decision support model allows determining near-optimal marketing budgets at the country--product--marketing--activity level in an Excel-supported environment each year. The model accounts for marketing dynamics and a product's growth potential as well as for trade-offs with respect to marketing effectiveness and profit contribution. The model has been successfully implemented at Bayer, one the world's largest pharmaceutical and chemical firms. The profit improvement potential is more than 50% and worth nearly €500 million in incremental discounted cash flows.