Showing papers on "Return on marketing investment published in 2013"

Social media as a destination marketing tool: its use by national tourism organisations

Abstract: Social media are gaining prominence as an element of destination marketing organisation (DMO) marketing strategy at a time when public sector cuts in their funding are requiring them to seek greater value in the way marketing budgets are spent. Social media offers DMOs with a tool to reach a global audience with limited resources. The aim of this study is to explore the usage of social media among the DMOs of the top 10 most visited countries by international tourists. The study uses content analysis and semi-structured interviews to examine the usage and impact of social media marketing strategies and identifies a framework of best practice for other national tourism organizations (NTOs) to learn from. The study argues that social media usage among top DMOs is still largely experimental and that strategies vary significantly.

Online Engagement Factors on Facebook Brand Pages

Abstract: Social networks have become an additional marketing channel that could be integrated with the traditional ones as a part of the marketing mix. The change in the dynamics of the marketing interchange between companies and consumers as introduced by social networks has placed a focus on the non-transactional customer behavior. In this new marketing era, the terms engagement and participation became the central non-transactional constructs, used to describe the nature of participants’ specific interactions and/or interactive experiences. These changes imposed challenges to the traditional one-way marketing, resulting in companies experimenting with many different approaches, thus shaping a successful social media approach based on the trial-and-error experiences. To provide insights to practitioners willing to utilize social networks for marketing purposes, our study analyzes the influencing factors in terms of characteristics of the content communicated by the company, such as media type, content type, posting day and time, over the level of online customer engagement measured by number of likes, comments and shares, and interaction duration for the domain of a Facebook brand page. Our results show that there is a different effect of the analyzed factors over individual engagement measures. We discuss the implications of our findings for social media marketing.

“Greening” the marketing mix: do firms do it and does it pay off?

Abstract: Growing concern about the sustainability of the natural environment is rapidly transforming the competitive landscape and forcing companies to explore the costs and benefits of “greening” their marketing mix. We develop and test a theoretical model that predicts (1) the role of green marketing programs in influencing firm performance, (2) the impact of slack resources and top management risk aversion on the deployment of such programs, and (3) the conditioning effects that underpin these relationships. Our analyses show that green marketing programs are being implemented by firms, and we find evidence of significant performance payoffs. Specifically the results indicate that green product and distribution programs positively affect firms’ product-market performance, while green pricing and promotion practices are directly positively related to firms’ return on assets. In addition, industry-level environmental reputation moderates the links between green marketing program components and firms’ product-market and financial performance. Finally, we find that slack resources and top management risk aversion are independently conducive to the adoption of green marketing programs—but operate as substitutes for each other.

Marketing renaissance : Opportunities and imperatives for improving marketing thought, practice, and infrastructure

Abstract: My three-year term as editor of Journal of Marketing concludes with the October 2005 issue. On the basis of my interactions with various people in the marketing community, I believe that marketing science and practice are in transition, bringing change to the content and boundaries of the discipline. Thus, I invited some distinguished scholars to contribute short essays on the current challenges, opportunities, and imperatives for improving marketing thought and practice. Each author chose his or her topic and themes. However, in a collegial process, the authors read and commented on one another's essays, after which each author had an opportunity to revise his or her essay. The result is a thoughtful and constructive set of essays that are related to one another in interesting ways and that should be read together. I have grouped the essays as follows: •What is the domain of marketing? This question is addressed in four essays by Stephen W. Brown, Frederick E. Webster Jr., Jan-Benedict E.M. Steenkamp, and William L. Wilkie. •How has the marketing landscape (i.e., content) changed? This question is addressed in two essays, one coauthored by Jagdish N. Sheth and Rajendra S. Sisodia and the other by Roger A. Kerin. •How should marketing academics engage in research, teaching, and professional activities? This question is addressed in five essays by Debbie MacInnis; Leigh McAlister; Jagmohan S. Raju; Ronald J. Bauerly, Don T. Johnson, and Mandeep Singh; and Richard Staelin. Another interesting way to think about the essays, as Jan-Benedict E.M. Steenkamp suggests, is to group the essays according to whether they address issues of content, publishing, or impact (see Table 1). These 11 essays strike a common theme: They urge marketers—both scientists and practitioners—to expand their horizontal vision. What do I mean by horizontal vision? In The Great Influenza, Barry (2004) describes the enormous strides that were made in medical science early in the twentieth century. His depiction of William Welch, an extremely influential scientist who did not (as a laboratory researcher) generate important findings, includes a characterization of the “genius” that produces major scientific achievements. The research he did was first-rate. But it was only first-rate—thorough, rounded, and even irrefutable, but not deep enough or provocative enough or profound enough to set himself or others down new paths, to show the world in a new way, to make sense out of great mysteries…. To do this requires a certain kind of genius, one that probes vertically and sees horizontally. Horizontal vision allows someone to assimilate and weave together seemingly unconnected bits of information. It allows an investigator to see what others do not see and to make leaps of connectivity and creativity. Probing vertically, going deeper and deeper into something, creates new information. (p. 60) At my request, each author has provided thoughtful and concrete suggestions for how marketing academics and practitioners, both individually and collectively (through our institutions), can work to improve our field. Many of their suggestions urge people and institutions to expand their horizontal vision and make connections, thereby fulfilling their potential to advance the science and practice of marketing. In his essay, Richard Staelin writes (p. 22), “I believe that it is possible to influence directly the generation and adoption of new ideas.” I agree. I ask the reader to think about the ideas in these essays and to act on them. Through our actions, we shape our future. —Ruth N. Bolton

Promotional Marketing or Word-of-Mouth? Evidence from Online Restaurant Reviews

Abstract: The value of promotional marketing and word-of-mouth (WOM) is well recognized, but few studies have compared the effects of these two types of information in online settings. This research examines the effect of marketing efforts and online WOM on product sales by measuring the effects of online coupons, sponsored keyword search, and online reviews. It aims to understand the relationship between firms' promotional marketing and WOM in the context of a third party review platform. Using a three-year panel data set from one of the biggest restaurant review websites in China, the study finds that both online promotional marketing and reviews have a significant impact on product sales, which suggests promotional marketing on third party review platforms is still an effective marketing tool. This research further explores the interaction effects between WOM and promotional marketing when these two types of information coexist. The results demonstrate a substitute relationship between the WOM volume and coupon ...

What Drives Managerial Use of Marketing and Financial Metrics and Does Metric Use Affect Performance of Marketing-Mix Activities?

Abstract: To increase marketing's accountability, Journal of Marketing, Marketing Science Institute, and the Institute for the Study of Business Markets have advocated development of marketing metrics and linking marketing-mix activities with financial metrics. Although the marketing field has made progress, researchers have paid less attention to what drives managerial use of marketing and financial metrics and whether metric use is associated with marketing-mix performance. The authors propose a conceptual model that links firm strategy, metric orientation, type of marketing-mix activity, and managerial, firm, and environmental characteristics to marketing and financial metric use, which in turn are linked to performance of marketing-mix activities. An analysis of 1287 marketing-mix activities reported by 439 U.S. managers reveals that firm strategy, metric orientation, type of marketing-mix activity, and firm and environmental characteristics are more useful than managerial characteristics in explaining...

Elevating marketing: marketing is dead! Long live marketing!

Abstract: Marketing must be elevated to a higher level of consciousness. A consciousness that grows beyond solving small, immediate problems to addressing long-term, large problems that goes beyond individual customer satisfaction and short-term financial performance to encompass the total value creation system. The discipline, in theory and practice, must move beyond a narrow focus on customers to a broader concern for them as citizen-consumers. This necessitates a recommitment of marketing to its fundamental purpose in society, which is improving the standard of living for all citizens by co-creating value at all levels within a socio-economic system. An elevated (systems) concept of marketing must focus on micro, meso and macro systems with an understanding of the purpose and shared vision for each system, a clear identification of responsibilities, and a focus on resource effectiveness and efficiency.

The Sales-Marketing Interface in Consumer Packaged-Goods Companies: A Conceptual Framework

Abstract: For those companies marketing branded consumer packaged-goods to an increasingly powerful retail trade, collaborative relations within the marketing function are crucial, particularly between trade customer-focused sales personnel and brand-focused marketing personnel. Yet although there is a well-developed body of literature on marketing's relations with other major business functions, relations within the marketing function itself remain unresearched. Drawing on theory and empirical results from studies of marketing's cross-functional interfaces, the authors develop a framework for understanding the nature, causes and effects of relations between sales and marketing in consumer packaged-goods firms. Propositions to guide further research are also developed.

Fresh ideas: services thinking for social marketing

Abstract: Purpose The social marketing literature tends to focus on upstream marketing (policy) and downstream (individual behaviour change) and has a limited view on midstream (working with partners and community groups) social marketing. The paper proposes midstream social marketing should also include an understanding of how services and service employees influence and support individual behaviour change goals. The paper presents four key services marketing principles - derived from services theory and thinking - which the paper believes to be essential for implementing effective midstream social marketing. Design/methodology/approach This is a conceptual paper that uses service theory and case-examples to show how service thinking can be used as a midstream social marketing approach. Findings For effective uptake and impact of social marketing services amongst people and populations, social marketers need to design programs that consider the service experience, the service employee, service quality/customer value and the active role of the customer in value creation. Research limitations/implications Services marketing is a well-established sub-discipline of marketing which, until recently, has not interacted with social marketing. The extension and application of services theory for social marketing can enrich and propel the social marketing discipline forward. Further research is recommended to evaluate how service principles can be applied in practice. Social implications Given that social marketing services tend not to be accessed in sufficient numbers by the people who most need them, social marketers need to think beyond the technical, cognitive, and organisational-focused goals when designing social services. Originality/value This paper identifies key service theories that social marketers should understand and use and is thus a source of fresh ideas for theory and practice.

Asymmetric Roles of Advertising and Marketing Capability in Financial Returns to News: Turning Bad into Good and Good into Great:

Abstract: News reports carrying positive or negative sentiment about a firm influence its stock market performance. This study examines how two firm-controllable marketing factors, advertising and marketing capability, moderate the relationship between news stories and firm stock returns. Analysis of a panel data set of more than 7,000 firm-month observations indicates asymmetric and complementary moderating roles of the two marketing variables: advertising reinforces the favorable impact of positive news on abnormal stock returns, and marketing capability mitigates the adverse impact of negative news. Moreover, these moderating effects operate through different stakeholders. Whereas the moderating effect of marketing capability is due to its influence on customers and thus affects the level and volatility of future cash flows, advertising moderates the effect of news through individual investors' attention and response to the news. The econometric analysis accounts for potential endogeneity between news reports, s...

The impact of E-marketing use on small business enterprises' marketing success

Abstract: Small business enterprises (SBEs) are considered to be the economic engine leading to worldwide economic development. They have attracted substantial consideration from researchers, academics and practitioners in the last three decades. Meanwhile, E-marketing (EM) has emerged as one of the key drivers in sustaining an organisation's competitive advantage. Yet, there is a lack of systematic empirical evidence regarding marketing activities that are affected by the use of EM in the (SBEs) context, and their consequent performance outcomes. Therefore, the purpose of this paper is to examine the impact of EM use by SBEs on marketing success and to develop and test a conceptual model of the antecedents and consequences of EM use by SBEs. The conceptual framework consists of the following constructs: EM budget, EM tools, pre-sales activities, after-sales activities, marketing performance and marketing effectiveness. Moreover, 12 hypotheses were developed and tested. Exploratory and confirmatory factor analyses ...

Data‐driven services marketing in a connected world

Abstract: Purpose – The purpose of this paper is to provide insights into the benefits of data-driven services marketing and provide a conceptual framework for how to link traditional and new sources of customer data and their metrics. Linking data and metrics to strategic and tactical business insights and integrating a variety of metrics into a forward-looking dashboard to measure marketing ROI and guide future marketing spend is explored. Design/methodology/approach – A detailed synthesis of the literature is conducted and contemporary sources of marketing data are categorized into traditional, digital and neurophysiological. The benefits and drawbacks of each data type are described and advantages of integrating different sources of data are proposed. Findings – The findings point to the importance and untapped potential of data in its ability to inform tactical and strategic marketing decisions. Future challenges, including top management support, ethical considerations and developing data and analytic capabilities, are discussed. Practical implications – The results demonstrate the need for executive service marketing dashboards that include key metrics that are service-relevant, complementary and forward-looking, with proven linkages to business outcomes. Originality/value – This paper provides a synthesis of data-driven services marketing and the value of traditional and contemporary metrics. Since the true potential of data-driven service management in a connected world is still largely unexplored, this paper also delineates fruitful avenues for future research

A new era of consumer marketing?: An application of co-creational marketing in the music industry

Abstract: Purpose – This paper aims to address the emerging post-millennium trends in co-creational marketing, in the context of how these trends apply to the recorded and live sectors of the music industry. Consideration of marketing as a broadened concept to include societal processes has implications not only for the marketing concept itself, but also for the roles of the parties implicitly involved in the marketing process. Therefore, the standard and polarising marketing cliches of “firm and customer”, “buyer and seller”, and “producer and consumer” may be replaced with a more contemporary marketing approach in which value can be created and shared by either party. Design/methodology/approach – Initially the paper provides a review of contemporary literature on co-creational aspects of marketing and a subsequent identification of typologies of co-creation practices. Conceptual frameworks pertaining to the relationships of these typologies are then proposed. An extensive review and analysis of journal articles,...

How Green Marketing Can Create a Sustainable Competitive Advantage for a Business

Abstract: The concept of green marketing has undergone tremendous transformation as a business strategy since its first appearance in the 1980’s. Business firms have realized the importance of green marketing as a means of gaining competitive advantage over rivals in the industry. Business strategy of a business is devised in response to the changing needs in the market and Green marketing has received a tremendous boost with the revival of environmental consciousness among consumers. Green marketing in fact represents a paradigm shift strategy in many business firms since it has altered the manner in which a business goes about in reaching out to the customers. The thesis paper discusses the importance of competitive advantage for a business firms and how green marketing is being relied upon by business firms to realize competitive advantage. The term green marketing and its main characteristics are described in order to understand the import of it in the present business world context. The thesis paper dwells at length on green market strategy implementation so as to provide glimpse as to how various businesses deploy marketing mix in green marketing. The necessary prerequisites for a successful green marketing strategy are identified and the drawbacks encountered by a business firm embarking on green marketing strategy are analyzed while evaluating some strategies in place. The success of green marketing strategy, as the thesis paper underlies, rests largely on the contribution, interaction and cooperation between different stakeholders of a business.

Aggressive Marketing Strategy Following Equity Offerings and Firm Value: The Role of Relative Strategic Flexibility

Abstract: Firms raise a significant amount of funds and gain competitive advantage over their rivals through equity financing, namely through initial public offerings and seasoned equity offerings. The authors find that both initial public offering firms and seasoned equity offering firms adopt a more aggressive marketing strategy during the two years following their offering. However, not all equity issuers benefit equally from increased marketing spending, which can help signal companies' growth prospects to investors. A key moderator of the link between marketing investment and firm value is the strategic flexibility of rivals with respect to issuers. In particular, the stock market reacts favorably to an aggressive marketing strategy initiated by issuers competing against rivals with relatively less flexibility, whereas increased marketing expenditures do not translate into higher firm value when rivals have greater flexibility. Furthermore, the authors show that marketing expenditures create value within conte...

Epic Content Marketing: How to Tell a Different Story, Break Through the Clutter, and Win More Customers by Marketing Less

Abstract: This book helps you to reach more customers than ever with Targetted Content. Epic Content Marketing helps you develop strategies that seize the competitive edge by creating messages and "stories" tailored for instant, widespread distribution on social media, Google, and the mainstream press. It provides a step-by-step plan for developing powerful content that resonates with customers and describes best practices for social media sharing and search engine discoverability. Joe Pulizzi is a content marketing strategist, speaker and founder of the Content Marketing Institute, which runs the largest physical content marketing event in North America, Content Marketing World.

The Role of Chief Marketing Officers for Venture Capital Funding: Endowing New Ventures with Marketing Legitimacy

Abstract: Research on new ventures has indicated that poorly conducted marketing is among the main reasons for new venture failure. To acquire urgently needed initial funding, new ventures strive to conform to investors' expectations of appropriate marketing capabilities because these capabilities may endow them with legitimacy in the eyes of potential investors. Drawing on organizational legitimacy and human resource theory, the authors argue that the characteristics of the chief marketing officer (CMO) may endow new ventures with marketing legitimacy. Employing a two-stage selection hazard rate analysis to simultaneously account for potential selection bias and right-censored observations, the authors analyze a comprehensive data set of 2,945 high-technology new ventures. Bearing in mind that this research is a first exploratory attempt to illuminate the role of marketing for new venture funding using correlational secondary data, the results indicate that CMO education, marketing experience, and industry experie...

Strategic network marketing in technology SMEs

Abstract: This study seeks to explore strategic networks from an entrepreneurial marketing and value creation perspective in the business-to-business (B2B) context to ascertain the value generated by strategic groups of network actors. This area has received little research investigation, despite the importance of network marketing in small-to-medium-sized enterprises (SMEs). The Strategic Network Marketing Model (SNMM) is generated from the study which presents a typology of six network types, together with their associated value creation opportunities. Both the typology and the focus on opportunities generated by the network types are novel. Qualitative interviews were conducted in 12 software SMEs located in two technology clusters in the UK and United States. Thematic analysis of the interview data uncovered use of six strategic networks; firms use intra-firm, social, customer, business, innovation, and marketing and sales networks to leverage additional resources that create value for the firm. Interv...

Social Media Marketing: A Strategic Approach

Abstract: Social Media Marketing: A Strategic Approach promises to be the seminal textbook in the field with its distinctive conceptual foundation and practical approach to developing successful social media marketing plans. A proven eight-step social media planning model provides students with a cumulative learning experience, showing them how to construct social media strategies that achieve desired marketing goals.

Social stream marketing on Facebook: a case study

Abstract: Recently, social network marketing has gained tremendously in popularity. There are increasing numbers of web-based companies that focus their marketing strategies on social network platforms such as Facebook, Twitter, etc. Even if social network marketing is perceived as a huge success, little or nothing is known about how well such social network-based marketing campaigns perform. To contribute to this field of research, we present in this paper the results of an ad-driven social network-based marketing campaign centred on the social network Facebook. In particular, we demonstrate in the extent to which ads placed on the user's social stream and generated by the Facebook tools and applications can increase the number of visits, profit or ROI of a web-based platform called VirWoX. In addition to these findings, we present an analysis of a number of simple real-time measures to detect the most 'valuable' users on Facebook. To the best of our knowledge, this is the first work that provides such detailed results of a social stream marketing campaign using Facebook. This paper is relevant for engineers, researchers or teachers who are interested in the field of social media marketing.

A review of internet marketing research over the past 20 years and future research direction

Abstract: Purpose – The 20‐year review of marketing and selected business journals examines the internet marketing literature to determine how the literature has evolved in terms of quantity, content, and publication outlets. This article aims to provide a comprehensive review of the internet marketing literature. It offers a big picture view of the current state of the internet marketing literature and gives readers a sense of the quantity of internet marketing articles published, the scope of this research, and how this research has evolved in terms of content.Design/methodology/approach – Consistent with Schibrowsky et al., a content analysis was performed on 1,957 internet‐related marketing articles identified by searching the business source premier database. The paper reviews the internet marketing literature that has been published in the time period 2005‐2012 in marketing journals.Findings – The study revealed that 68.5 percent of the internet marketing research had been published in the last eight years. T...

The Implications of Facebook Marketing for Organizations

Abstract: With the explosive popularity of Facebook as a social media, there has not been much research that examines Facebook marketing and its implications for businesses. This paper represents an exploratory effort into this direction and analyzes existing Facebook marketing practices and tools, their benefits, and concerns associated with this type of social media marketing. Practical implications are suggested for organizations using Facebook as a social marketing tool and areas for future research are identified.

Antecedents and Consequences of an Eco-Friendly Export Marketing Strategy: The Moderating Role of Foreign Public Concern and Competitive Intensity.

Abstract: Despite growing concerns about environmental issues worldwide, research on the subject in the context of international marketing is virtually absent. The current study sheds light on the green aspects of exporting, using data collected from 216 exporting manufacturers. Drawing on the resource-based view and industrial organization theories, the authors show that certain organizational resources (i.e., financial, physical, and experiential) and capabilities (i.e., shared vision, cross-functional coordination, and technology sensing/response) are conducive to the deployment of an eco-friendly export marketing strategy (comprising product, price, distribution, and promotional elements). Such a strategy is more evident for exporters of industrial (vs. consumer) goods as well as for firms that sell to developed (vs. developing) countries. The results also suggest that the adoption of a green export marketing strategy has a positive effect on the firm's export performance. In addition, the authors find...