Showing papers on "Return on marketing investment published in 2012"
TL;DR: The authors synthesize three major streams of thought in strategic management with the empirical and theoretical literature on strategic marketing to develop an integrative theory-based conceptual framework linking marketing with firms' business performance.
Abstract: Academics and managers have struggled for many years to understand and delineate the role of marketing in explaining business performance differences between firms. Most of the theory base for any such attempts has to be informed by strategic management theory, since the primary question that strategic management seeks to answer is why some firms outperform others over time. This paper synthesizes three major streams of thought in strategic management with the empirical and theoretical literature on strategic marketing to develop an integrative theory-based conceptual framework linking marketing with firms’ business performance.
508 citations
TL;DR: In this paper, the authors build on the implementation literature in marketing and strategic management to develop a new conceptualization of export marketing strategy implementation effectiveness, and empirically examine the export marketing capability antecedents and performance consequences of planed export marketing strategies implementation effectiveness in the context of manufacturing firms that are exporting to international markets.
Abstract: Since exporting is the most popular mechanism by which firms engage with international markets, understanding the drivers of export market performance is key to explaining firms’ international competitiveness. The literature posits that the effective implementation of planned export marketing strategy is a key determinant of the performance of firms operating in international markets. Yet little is known about the specific nature and drivers of export marketing strategy implementation effectiveness. In this study we build on the implementation literature in marketing and strategic management to develop a new conceptualization of export marketing strategy implementation effectiveness. Drawing on dynamic capabilities theory, we empirically examine the export marketing capability antecedents and performance consequences of export marketing strategy implementation effectiveness in the context of manufacturing firms that are exporting to international markets. Results indicate that effective implementation of planned export marketing strategy contributes to export market and financial performance, and that marketing capabilities play an important role in enabling effective marketing strategy implementation in export venture operations.
412 citations
TL;DR: This article developed a three-tiered explanation of the emerging field of marketing, including consumer experiences and sensory systems, marketing networks, and superphenomena (sustainability and development).
Abstract: The domain and theories of marketing have been expanding since the origins of the discipline. Since the 1970s marketing science has been organized around the exchange paradigm. Marketing concepts apply to all forms of exchange, whether it is goods, services, personages, places or ideas, and whether it is between individuals, for-profit and nonprofit firms, governments and NGOs. Marketing theories evolved from a firm oriented view to encompass the exchanging dyad. More recently the paradigm expanded to a network level of explanation, and relational theories have come to the fore. But even as the field struggles to grasp its new fields of explanation, there is a Kuhnian shift happening at its boundaries. The shift significantly bends the marketing worldview as well as the theoretical tools and methodologies we use to study it. In this paper we develop a three-tiered explanation of the emerging field of marketing—its subphenomena (consumer experiences and sensory systems), its phenomena (marketing networks), and its superphenomena (sustainability and development).
350 citations
TL;DR: In this paper, the authors identify the effect of social media marketing on brand loyalty of the consumers, given that the concept is receiving increasing attention from marketing academia and practitioners, and propose several tactics for the practitioners.
341 citations
02 Jan 2012
TL;DR: In this article, the authors define a new definition of marketing, and propose a value-based marketing strategy for the twenty-first century, based on the principle of value creation.
Abstract: Preface. About the author. PART I: PRINCIPLES OF VALUE CREATION. 1. Marketing and Shareholder Value. Introduction and objectives. Managing in the twenty-first century. Measuring success: shareholder value. Marketing's lost influence. Marketing's new opportunity. The shareholder value principle. Challenges to shareholder value. Accounting-based performance measures. The changing role of marketing. Summary. 2. The Shareholder Value Approach. Introduction and objectives. Principles of valuation. Shareholder value. Economic value added. Financial value drivers. Marketing value drivers. Organisational value drivers. Marketing applications of shareholder value. Limitations of shareholder value analysis. Summary. 3. The Marketing Value Driver. Introduction and objectives. A new definition of marketing. Creating customer value. Building the differential advantage. Building relationships with customers. Implementing relationship marketing. Organisational requirements. The customer-focused organization. Summary. 4. The Growth Imperative. Introduction and objectives. Marketing, growth and shareholder value. Pathways to growth. Developing a growth strategy. Summary. PART II: DEVELOPING HIGH-VALUE STRATEGIES. 5. Strategic Position Assessment. Introduction and objectives. An overview. Assessing the current position. Explaining the current position. Projecting the future of the business. Implications of the strategic position assessment. The value-based plan. Strategic objectives. Summary. 6. Value-Based Marketing Strategy. Introduction and objectives. Why strategic marketing plans? Corporate level planning. Business unit planning. The planning process. Summary. PART III: IMPLEMENTING HIGH-VALUE STRATEGIES. 7. Building Brands. Introduction and objectives. The role of intangible assets. The role of the brand. Brands and shareholder value. How to build brands. Issues in branding. Organising the brand portfolio. Valuing the brand. Summary. 8. Pricing for Value. Introduction and objectives. Price and shareholder value. Pricing principles. Setting the price. Adapting prices to customers and products. Changing the price. Price management. Summary. 9. Value-Based Communications. Introduction and objectives. Communications and shareholder value. Communications and customers. Developing a communications strategy. Allocating across communications channels. Valuing communications strategies. Summary. 10. Value-Based Marketing in the Digital Age. Introduction and objectives. The growth and development of the Internet. Drivers of change in the new economy. Creating value through the web. Implications for marketing strategy. Building the brand on the Internet. Future perspectives. Summary. Glossary. The Advisory Board. Index.
340 citations
TL;DR: In this article, the authors investigate consumers' willingness to accept marketing through their smartphones and find that consumers' shopping style, brand trust, and value are key motivations for engaging in mobile marketing.
Abstract: Purpose – Smartphone adoption by consumers is increasing exponentially, and presents marketers with many new opportunites to reach and serve customers. However, are consumers ready for mobile marketing through their smartphones? This study aims to investigate consumers' willingness to accept marketing through their smartphones.Design/methodology/approach – The study is based on an online survey of 428 respondents. The data is analyzed through ANOVA and regression analysis.Findings – The results indicate that consumers' shopping style, brand trust, and value are key motivations for engaging in mobile marketing through their smartphones. Further research should focus on specific tactics marketers use to engage customers beyond marketing messages, that is, how they engage customers in dialogue to build relationships, encourage purchases and build loyalty. This could reveal how customers really want to engage in mobile marketing.Research limitations/implications – This research adds to the growing body of evi...
277 citations
Journal Article•
TL;DR: In this paper, the authors profile the current literature landscape surrounding word-of-mouth marketing, alternative marketing communications, and social media as viable components of integrated marketing communications and develop an integrated alternative marketing communication conceptual model that can be applied by industrial practitioners to help them achieve their marketing objectives.
Abstract: While current literature has sufficiently profiled word-of-mouth (WOM) marketing, customer relationship management, brand communities, search engine optimization, viral marketing, guerilla marketing, events-based marketing, and social media each on an isolated, individual basis, there is no comprehensive model that effectively incorporates all of these elements. The first purpose of this paper is to therefore profile the current literature landscape surrounding WOM marketing, alternative marketing communications, and social media as viable components of integrated marketing communications. Additionally, this paper aims to develop an integrated alternative marketing communication conceptual model that can be applied by industrial practitioners to help them achieve their marketing objectives.
267 citations
TL;DR: In this article, a model is developed that integrates market orientation, marketing capability, innovation capability, and customer and innovation-related performance, and the validity of the model is tested based on a sample of 163 manufacturing and services firms.
230 citations
TL;DR: Pulizzi as mentioned in this paper describes the history of content marketing, the opportunities, and six differences that separate good to great content marketers for publishers, and discusses the differences between good and bad content marketers.
Abstract: More and more large and small brands are engaging in a marketing activity called content marketing: the idea that storytelling is key to attract and retain customers. Content marketing expert Joe Pulizzi details the history of content marketing, the opportunities, and six differences that separate good to great content marketers for publishers.
207 citations
TL;DR: In this paper, the authors use dyadic field data from marketing managers and management accounting executives and extend prior work by developing and testing a more complex, contingency-based model, which shows that the relationship of comprehensiveness in a marketing performance measurement system to firm performance is conditional.
Abstract: Comprehensive performance measurement systems such as the balanced scorecard have received considerable attention in marketing. However, whether and under which circumstances comprehensiveness as a performance measurement system property is desirable and contributes to firm performance is still a subject of debate in research and practice. To address this issue, the authors use dyadic field data from marketing managers and management accounting executives and extend prior work by developing and testing a more complex, contingency-based model. The empirical results confirm the developed framework. In particular, the results show that the relationship of comprehensiveness in a marketing performance measurement system to firm performance is conditional. Marketing alignment and market-based knowledge mediate this relationship, depending on marketing strategy, marketing complexity, and market dynamism. These insights explain mixed findings of previous research and provide important implications for re...
191 citations
TL;DR: The results of a survey of 155 large B2B firms show product innovation capability and marketing capability partially mediates the relationship between a firms' market orientation and its ability to create value as discussed by the authors.
TL;DR: In this paper, a three dimensional model for transforming social marketing thought, research and practice is presented that includes: scope, co-creation, conversations, communities and markets; design, honoring people, radiating value, engaging service and enhancing experiences; value space.
Abstract: Purpose – The purpose of this paper is to explore the field of social marketing The field needs to evaluate what works, and more importantly for it to prosper and remain relevant, it must discover and incorporate concepts and techniques from other disciplines that are aligned around core ideas of people‐centered and socially orientedDesign/methodology/approach – The paper reviews new insights and understandings from modern social marketing practice, social innovation, design thinking and service design, social media, transformative consumer research, marketing theory and advertising practice and develops a model for transforming social marketing thought, research and practiceFindings – A three dimensional model is presented that includes: scope – co‐creation, conversations, communities and markets; design – honoring people, radiating value, engaging service and enhancing experiences; value space – dignity, hope, love and trustOriginality/value – The presentation weaves together a set of ideas from dif
Book•
14 Nov 2012TL;DR: In this article, the authors argue that the biggest challenges to marketing are company-wide, requiring stronger interfaces with other functions, and that marketing must engage more deeply with customers and demonstrate its contribution to business performance.
Abstract: ► Corporate expectations from marketing are increasing and the stakes are getting higher. ► Global markets have created unprecedented challenges for B2B marketers. ► Technology’s disruptive power could make certain B2B marketing practices obsolete. ► The biggest challenges to marketing are company-wide, requiring stronger interfaces with other functions. ► Marketing must engage more deeply with customers and demonstrate its contribution to business performance.
TL;DR: In this article, the travel portion of the tourism experience through airlines' use of social media on two social media platforms for a 6-month time period was studied and analyzed and categorized according to the promotional marketing mix.
Abstract: Over the years, online marketing has grown in importance in the tourism industry. This media space offers companies throughout the tourism value system numerous marketing tools, one of the most recent being social media. Social media allows companies to interact directly with customers via various Internet platforms and monitor and interact with customer opinions and evaluations of services. This exploratory article studies the travel portion of the tourism experience through airlines’ use of social media on two social media platforms for a 6-month time period. The social media content posted by airlines is analyzed and categorized according to the promotional marketing mix. In addition, the authors propose four categories to describe the overall communicative behavior. Among the results, it is shown that there is a lack of strategic perspective among airlines’ utilization of social media as it is being used with limited uniformity. These findings may aid marketing departments in their marketing and socia...
TL;DR: In this paper, a theoretical model that integrates relationship marketing into the theory of business model design with respect to the requirements of entrepreneurial ventures in the early stage of the organizational life cycle is presented.
TL;DR: In this paper, the authors present a reflective account of the emergence of new marketing theory as seen through the lens of the Nordic School of Service, especially from Finland and Sweden, and the authors' self-lived history and current involvement (management action research).
Abstract: Purpose - The purpose of this paper is to offer a reflective account of the emergence of new marketing theory as seen through the lens of the Nordic School of Service. Design/methodology/approach - The paper is based on documents and the authors' self-lived history and current involvement (management action research). Findings - Northern European scholars, especially from Finland and Sweden, have felt free to design their own theory, at the same time collaborating internationally. Contributions include an early alert to services and business-to-business (B2B) marketing being neglected; dissatisfaction with service quality; that the service economy is more than the service sector; and the insight that relationship marketing and many-to-many network marketing better represent service reality. A novel service logic abandoning the divisive goods/services, B2B/B2C (business-to-consumer), and supplier/customer categories, based on commonalities and interdependencies is arriving. Nordic School methodology is characterised by induction, case study research, and theory generation, to better address complexity and ambiguity in favour of validity and relevance. In the 2000s, the synthesis provided by service-dominant (S-D) logic, IBM's service science, and network and systems theory have inspired a lively international dialogue. Research limitations/implications - The hegemony of the marketing management of mass-manufactured consumer goods was challenged when services entered the marketing agenda in the 1970s. During the 1980s and 1990s the differences been goods marketing and service marketing were explored and the understanding for relationships, networks and interaction developed. It gradually laid the ground for the integrated goods/services approach that is now the major challenge for service researchers and practitioners alike. Originality/value - It is unfortunate if developments of marketing in the USA are perceived as a universal standard for marketing. By studying contributions from many cultures and nations in other countries the paper enhances the understanding of the diversity of marketing. This article presents such a case from Northern Europe.
TL;DR: The role of the four Ps marketing mix model in social marketing is discussed in this article, arguing that given reconfiguration of the marketing mix in the mainstream marketing discipline, and the characteristics of social marketing, a re-thought and re-tooled social marketing mix is required.
Abstract: This article considers the role of the four Ps marketing mix model in social marketing, arguing that given reconfiguration of the marketing mix in the mainstream marketing discipline, and the characteristics of social marketing, a re-thought and re-tooled social marketing mix is required. A brief review of the four Ps marketing mix model in the mainstream marketing and social marketing fields is presented. Criticisms of the four Ps model are then examined. It is argued that the four Ps marketing mix model is outdated for application to social marketing, and an alternative approach to the social marketing mix is proposed. It is posited that an expanded approach recognizing strategies such as relational thinking, and upstream social marketing activities would offer a more suitable approach. Using a more open minded social marketing mix less reliant on the four Ps model can help guide social marketing research and practice. 2011 Australian and New Zealand Marketing Academy. Published by Elsevier Ltd. All rights reserved.
TL;DR: In this article, the authors identify and discuss the growing popularity of social media and explore its potential impact on marketing practices and especially marketing public relations, and explore the potential impact of marketing practices on public relations.
Abstract: The organizational long term success of promotional campaigns and the integration of marketing communications are affected by the effective use of information communication technologies, including the use of the Internet. Today, the Internet implementation in the marketing process is inexpensive, delivers instant international reach, offers great real time feedback, and reaches millions of people for whom the web is the center of virtually all communications. With social media on a rise, some may say that traditional marketing practices as we know it is phasing out. However, it may also be assumed that they are not necessarily phasing out, but are rather supported by a stronger sibling—that of social media. The aim of this research is to identify and discuss the growing popularity of social media and explore its potential impact on marketing practices and especially marketing public relations.
Journal Article•
TL;DR: Green marketing is a holistic approach rather than the simple "marketing hype" or tactical opportunism practiced by some as discussed by the authors, it expands on the basic transaction concept by minimising a transaction's negative impact on the natural environment.
Abstract: Today's consumers are becoming more and more conscious about the environment and are also becoming socially responsible. Therefore, more companies are responsible to consumers’ aspirations for environmentally less damaging or neutral products. It ensures sustained long-term growth along with profitability. Green marketing is a holistic approach rather than the simple “marketing hype” or tactical opportunism practiced by some. It expands on the basic transaction concept by minimising a transaction's negative impact on the natural environment. Today be it a fad or by principle green initiativeness are an inherent part of many business firms. The “Green Imperative” is impossible to ignore, and companies are scrambling to understand how to develop business models that are more sustainable. This paper provides a bird's eye view on the benefits of green marketing and how to carry out green marketing for the existence of enterprises.
TL;DR: The authors examined stock market reactions to brand acquisition and disposal announcements in 31 consumer industries and found that returns to such announcements depend crucially on three complementary firm assets (marketing capabilities, channel relationships, and brand portfolios) but these effects may not be symmetric across brand acquisitions and disposals.
Abstract: Brand acquisitions and disposals are key strategic marketing decisions and often the largest single marketing investments that firms make. Yet little is known about the performance effects of such decisions. This study examines stock market reactions to brand acquisition and disposal announcements in 31 consumer industries. The results reveal that returns to such announcements depend crucially on three complementary firm assets—marketing capabilities, channel relationships, and brand portfolios—but that these effects may not be symmetric across brand acquisitions and disposals. Acquirer abnormal returns are greater for firms with strong marketing capabilities and those that buy brands with higher price/quality positioning than their existing portfolio. Investors also reward buyers that identify cost synergies in integrating new brand(s) into their portfolios but punish those that identify revenue synergies. Conversely, greater abnormal returns arise for sellers with inferior channel relationships...
TL;DR: In this article, the authors examined the marketing strategies of companies originating in small and open economies as they expand into foreign markets and found that the fit between these contextual factors and the standardization of marketing strategy has a positive effect on performance.
Abstract: This study examines the marketing strategies of companies originating in small and open economies as they expand into foreign markets. It distinguishes two major globalization paths (that of born globals and that of globalizing internationals), contrasts them with traditional internationalizers, and describes their characteristics. It then outlines a framework and hypotheses regarding the marketing strategies used in foreign expansion and examines them empirically in the information and communication technology field. The authors examine two important strategic marketing issues: the breadth of product offering and the standardization of marketing strategies across countries. The empirical results show that foreign expansion path, foreign business experience, and external globalization pressure have an impact on the selection of marketing strategies. The study also finds that the fit between these contextual factors and the standardization of marketing strategy has a positive effect on performance...
TL;DR: The authors argue that the appropriate classification of commercial applications is (only) one simplified variety of this complexity, principally the sales of products and services, and that the most complex and difficult contexts in which marketing activities are carried out.
Abstract: Despite the long history and increasing interest in nonprofit and social marketing, the managerial and pedagogical issues that arise in these noncommercial contexts are treated as unique cases in an intellectual environment dominated by commercial issues and applications. Its literature and basic textbooks allot only a few paragraphs or pages to nonprofit and social marketing. This essay posits the radical idea that this implicit taxonomy has the relationship upside down. The author argues that nonprofit and social marketing represent the most complex and difficult contexts in which marketing activities are carried out and that the appropriate classification of commercial applications is (only) one simplified variety of this complexity, principally the sales of products and services.
TL;DR: This article examined how market orientation, marketing resources, and marketing capabilities contribute to firm performance and found that being market oriented influences the level of marketing resources firms possess and the capability to deploy such resources.
Abstract: Drawing on the competitive capability theory, this paper examines how market orientation, marketing resources, and marketing capabilities contribute to firm performance. The empirical results show that being market oriented influences the level of marketing resources firms possess and the capability to deploy such resources. The findings show marketing resources and marketing capabilities are significant drivers of firm performance, and their impact is greater when they are complementary to each other.
TL;DR: The purpose of this article is to provide a template for strategic thinking to successfully include social media as part of the social marketing strategy by using a four-step process.
Abstract: Social media is a group of Internet-based applications that allows individuals to create, collaborate, and share content with one another. Practitioners can realize social media's untapped potential by incorporating it as part of the larger social marketing strategy, beyond promotion. Social media, if used correctly, may help organizations increase their capacity for putting the consumer at the center of the social marketing process. The purpose of this article is to provide a template for strategic thinking to successfully include social media as part of the social marketing strategy by using a four-step process.
TL;DR: In this paper, the authors examine the potential of social marketing for renewable energy sources and examine the gap between the results from consumer stated preference studies and the insights generated for social marketing.
TL;DR: This paper examined factors influencing consumers' acceptance of untethered, or mobile, marketing across three influential markets: the United States, China, and Europe, and found perceived usefulness, consumer innovativeness, and personal attachment to directly influence attitudes toward mobile marketing in all three markets.
TL;DR: This article examined a comprehensive range of executional elements in a sample of permission-based e-mail marketing campaigns and found that different tactics of format, address, subject, subject lines, hyperlinks and interactivity are applied to initially attract customers' attention and then encourage further interest.
TL;DR: In this paper, the authors investigate the potential contribution of some approaches, i.e. value chain, strategic marketing, electronic marketing and clustering, and suggest a conceptual framework allowing improving effectiveness in the field of promoting tourism destinations.
Abstract: Purpose – The purpose of this paper is to investigate the potential contribution of some approaches, i.e. value‐chain, strategic marketing, electronic marketing and clustering, and to suggest a conceptual framework allowing improving effectiveness in the field of promoting tourism destinations. Hence, the paper puts forward a conceptual framework allowing attaining an integrated approach in tourism destination marketing.Design/methodology/approach – The approach adopted and implemented for this study is a desk research based on extensive literature and well‐established theories.Findings – The paper provides insights into a comprehensive approach to destination marketing planning and implementation and suggests a conceptual framework encompassing approaches contributing to improve effectiveness and efficiency in the field of destination marketing.Practical implications – The factors influencing e‐marketing and clustering approaches are highlighted and a set of recommendations are put forward for destinatio...
TL;DR: In this paper, the authors analyse the social media marketing practices of SMEs and propose some managerial recommendations to small business owner-managers, based on seven semi-structured interviews with web marketing consultants, an online survey with 104 owner-menagers of tourism SMEs, and a netnographic study.
Abstract: The purpose of this paper is to analyse the social media marketing practices of SMEs. Social networks are profoundly transforming the way customers use the web and thus challenging SME business practices. Although the social media provide affordable channels for marketing and are thus appropriate tools for firms with limited resources, some SMEs and entrepreneurs still question their credibility and sustainability. Based on seven semi-structured interviews with web marketing consultants, an online survey with 104 owner-managers of tourism SMEs, and a netnographic study, this research analyses the place of social media in SMEs. It describes their practices, shows that SMEs underuse these tools, and proposes some managerial recommendations to small business owner-managers.