Showing papers on "Return on marketing investment published in 2016"

A Thematic Exploration of Digital, Social Media, and Mobile Marketing: Research Evolution from 2000 to 2015 and an Agenda for Future Inquiry

Abstract: Over the past 15 years, digital media platforms have revolutionized marketing, offering new ways to reach, inform, engage, sell to, learn about, and provide service to customers. As a means of taking stock of academic work’s ability to contribute to this revolution, this article tracks the changes in scholarly researchers’ perspectives on three major digital, social media, and mobile (DSMM) marketing themes from 2000 to 2015. The authors first use keyword counts from the premier general marketing journals to gain a macro-level view of the shifting importance of various DSMM topics since 2000. They then identify key themes emerging in five-year time frames during this period: (1) DSMM as a facilitator of individual expression, (2) DSMM as decision support tool, and (3) DSMM as a market intelligence source. In both academic research to date and corresponding practitioner discussion, there is much to appreciate. However, there are also several shortcomings of extant research that have limited its rel...

Organizing for marketing excellence

Abstract: Marketing organization is the interface of the firm with its markets and where the work of marketing gets done. This review of the past 25 years of scholarship on marketing organization examines the individual and integrative roles of four elements of marketing organization—capabilities, configuration (including structure, metrics, and incentives), culture, and the human capital of marketing leadership and talent. The authors indicate that these four elements are mobilized through seven marketing activities (7As) that occur during the marketing strategy process. These activities enable the firm to anticipate market changes, adapt the strategy to stay ahead of competition, align the organization to the strategy and market, activate effective implementation, ensure accountability for results, attract resources, and manage marketing assets. How well the firm manages these seven activities throughout the marketing strategy process determines the performance payoffs from marketing organization. Future ...

Does relationship marketing matter in online retailing? A meta-analytic approach

Abstract: Building on the meta-analytic model suggested by Palmatier et al. Journal of Marketing, 70, 136–153, (2006), this study extends the relationship marketing framework to the domain of online retailing to identify what strategies help build relationships with online customers. Specifically, this meta-analytic study identifies key antecedents and consequences of relationship marketing in online retailing. The study also examines the relationship between the four mediators—trust, commitment, relationship quality, and relationship satisfaction— and the antecedents and consequences of relationship marketing. Similarity and seller expertise were found to have the strongest impact on relational mediators, and word of mouth was the most critical outcome of relationship marketing efforts. The model proffered in this study will motivate hypotheses to be examined by future researchers. The model also helps managers to identify the key drivers of relationship marketing in online retailing.

Corporate Social Responsibility and Shareholder Wealth: The Role of Marketing Capability:

Abstract: Despite the positive societal implications of corporate social responsibility (CSR), there remains an extensive debate regarding its consequences for firm shareholders. This study posits that marketing capability plays a complementary role in the CSR–shareholder wealth relationship. It further argues that the influence of marketing capability will be higher for CSR types with verifiable benefits to firm stakeholders (i.e., consumers, employees, channel partners, and regulators). An analysis utilizing secondary information for a large sample of 1,725 firms for the years 2000–2009 indicates that the effects of overall CSR efforts on stock returns and idiosyncratic risk are not significant on their own but only become so in the presence of marketing capability. Furthermore, the results reveal that although marketing capability has positive interaction effects with verifiable CSR efforts—environment (e.g., using clean energy), products (e.g., providing to economically disadvantaged), diversity (e.g., ...

Demonstrating the Value of Marketing

Abstract: Marketing departments are under increased pressure to demonstrate their economic value to the firm. This challenge is exacerbated by the fact that marketing uses attitudinal (e.g., brand awareness), behavioral (e.g., brand loyalty), and financial (e.g., sales revenue) performance metrics, which do not correlate highly with each other. Thus, one metric could view marketing initiatives as successful, whereas another could interpret them as a waste of resources. The resulting ambiguity has several consequences for marketing practice. Among these are that the scope and objectives of marketing differ widely across organizations. There is confusion about the difference between marketing effectiveness and efficiency. Hard and soft metrics and offline and online metrics are typically not integrated. The two dominant tools for marketing impact assessment, response models and experiments, are rarely combined. Risk in marketing planning and execution receives little consideration, and analytic insights are n...

What Counts Versus What Can Be Counted: The Complex Interplay of Market Orientation and Marketing Performance Measurement

Abstract: Market orientation (MO) and marketing performance measurement (MPM) are two of the most widespread strategic marketing concepts among practitioners. However, some have questioned the benefits of extensive investments in MO and MPM. More importantly, little is known about which combinations of MO and MPM are optimal in ensuring high business performance. To address this research gap, the authors analyze a unique data set of 628 firms with a novel method of configurational analysis: fuzzy-set qualitative comparative analysis. In line with prior research, the authors find that MO is an important determinant of business performance. However, to reap its benefits, managers need to complement it with appropriate MPM, the level and focus of which vary across firms. For example, whereas large firms and market leaders generally benefit from comprehensive MPM, small firms may benefit from measuring marketing performance only selectively or by focusing on particular dimensions of marketing performance. The study also finds that many of the highest-performing firms do not follow any of the particular best practices identified.

Marketing’s Impact on Firm Value: Generalizations from a Meta-Analysis

Abstract: The interest in the value relevance of marketing investments has given rise to numerous studies on the marketing–finance interface. This study integrates extant research findings and establishes empirical generalizations on marketing’s impact on firm value. Specifically, the authors conduct a meta-analysis of prior econometric elasticity estimates of the stock market impact of marketing actions and marketing assets. Analyses based on 488 elasticities drawn from 83 studies reveal a mean elasticity of .04 for advertising expenditure variables and of .54 for marketing asset variables. Among marketing assets, customer-related assets show a higher mean elasticity of .72, compared with .33 for brand-related assets. Further analyses show that advertising elasticities are lower in more concentrated industries and that marketing asset elasticities are higher during recession times. Researchers should also be aware that characteristics of the research design (e.g., the type of firm value metric used, the om...

Exploring the integration of social media within integrated marketing communication frameworks: perspectives of services marketers

Abstract: Purpose – At present no frameworks exist for services marketers to incorporate social media (SM) within marketing communications planning. The majority of integrated marketing communications (IMC) frameworks were developed prior to the development of the widespread use of digital and SM for information seeking, sales and service. The purpose of this paper is to investigate this issue for services marketers specifically as they differ from FMCG, industrial and durable marketers in terms of marketing messages, branding, media and channels. Furthermore, as they are less reliant on outsourced sale channels they have more potential than other industries to integrate social and digital media to build awareness, brands and sales. Design/methodology/approach – Depth interviews were conducted with eight senior services marketing executives to identify the impact of SM on marketing communications planning, implementation and measurement. Findings – The findings revealed that the unique characteristics of SM (such a...

The Impact of Social Media Content Marketing (SMCM) towards Brand Health

Abstract: The emergence of Web 2.0 has created the new phenomenon in business strategies as it allowed two-way communications between companies and the consumers. Nowadays, the business practitioners tend to use the social media marketing to create awareness and promote their brands to the customers. Nevertheless, the main point in sharing the information through the social media is about the content itself to attract more consumers engage with the brands. Social media content marketing (SMCM) also plays an important role in conveying effective information to the consumers thus attract them to keep engaging with the brands. Meanwhile, brand health is the evaluation from digital audiences about the brands and products. It measures the awareness of the brand for long-term period thus develop the brand equity. There are few indicators in measuring the brand health such as time on site, repeat visitors, social likes, subscriptions, and bounce rates. There are still limited studies on the impact of social media content marketing (SMCM) towards brand health. The purpose of this study is to investigate the role of SMCM in increasing the brand health score

Impacts of Corporate Social Responsibility on the Links between Green Marketing Awareness and Consumer Purchase Intentions

Abstract: This study examines the mediating roles of corporate social responsibility on the links between green marketing awareness and consumer purchase intentions. Data was analyzed using the partial least squares (PLS) approach for the analysis of structural equation models with SmartPLS computer program version 2.0. PLS results revealed that corporate social responsibility partially mediated the link between green marketing awareness and purchase intentions of the product. Consumers develop positive green marketing awareness based on the growing environmental knowledge. They were aware of the green marketing program of the retail store when they noticed that the store allocated specified space to sell eco-friendly products. Furthermore, the companies make their green marketing activities known to the publics by distributing eco-friendly fliers which helps to increase sales revenue, raise consumer awareness, and develop greater intention to purchase the products. The outcomes of the mediating effects of this study add a new momentum to the growing literature and preceding discoveries on consumer green marketing awareness, which is inadequately researched in the Malaysian setting.

Marketing in SMEs: a “4Ps” self-branding model

Abstract: Purpose – The purpose of this paper is to explore the extent to which traditional marketing theory and practice can be applied in small- and medium-sized enterprises (SMEs) and consider how owner-managers perceive their own role in marketing within a small business setting. Design/methodology/approach –A qualitative exploratory approach using semi-structured in-depth interviews amongst owner-managers of SMEs in the UK. Findings – SME marketing is effective in that it embraces some relevant concepts of traditional marketing, tailors activities to match its customers and adds its own unique attribute of self-branding as bestowed by the SME owner-manager. Research limitations/implications – The study was limited to the UK and to a small sample of SMEs and as such the findings are not necessarily generalisable. Originality/value – A “4Ps” model for SME self-branding is proposed, which encompasses the attributes of personal branding, (co)production, perseverance and practice.

Using big data to model time-varying effects for marketing resource (re)allocation

Abstract: Marketing resource allocation has been a topic of intense scrutiny, yet the literature on the topic has not paid adequate attention to the fact that the effectiveness of marketing-mix elements varies over time. Despite the fact that firms collect volumes of data on their customers, existing estimation approaches do not readily lend themselves to modeling the temporal variations for big data and provide little guidance to managers in terms of their resource allocation decisions. We address this gap and argue that marketing-mix effectiveness varies with the evolution of the consumer-brand relationship and explicitly model these temporal variations using a time-varying effects model (TVEM) that accounts for self-selection of customers into receiving marketing communications and endogeneity of the number of such communications. The proposed TVEM framework handles the complexities associated with big data analytics and provides novel insights for data-driven decision making. We combine transaction data from a Fortune 500 retailer with demographic information obtained from Acxiom Corp for over a quarter million customers to test our framework. The results provide strong support for our proposed framework. Specifically, we find that the influence of marketing mailers, other transaction characteristics (coupon redemption, returns, and cross-buy), and demographic factors (age, income, household size, and interests) on sales varies significantly over the customer life cycle and ignoring such temporal variations can lead to gross misallocation of marketing investments. Specifically, our results suggest that firms can increase their revenues by over 17 percent by just reallocating their resources based on the proposed framework. To facilitate adoption of our proposed framework, we provide guidance and actionable insights for managerial relevance.

Brand marketing, big data and social innovation as future research directions for engagement

Abstract: The articles by Leckie, Nyadzayo, and Johnson (2016), Marbach (2016) and Dessart, Veloutsou, and Morgan-Thomas (2016) presented in this issue provide a suitable reflection of the current state of e...

Email marketing in the era of the empowered consumer

Abstract: Purpose The purpose of this paper is to clarify why, when and how e-mail marketing can be used to empower consumers and to give ideas for future scholarly research. Design/methodology/approach Systematic literature review studies 41 e-mail marketing and 54 consumer empowerment articles published in variety of academic journals between 1998 and 2014. Findings E-mail allows an active, interactive and personalized communication fulfilling the preferences of an empowered consumer. E-mail marketing can be used to empower consumers by sending e-mails based on permission, by making consumers active participants in the communication process and by making e-mails relevant for the recipients. However, current e-mail marketing strategies need to be updated to get the maximum benefit out of the channel. Research limitations/implications The limitation of the study is the broad domain of research, which hampered the in-depth analysis. However, the study was able to synthesize the scattered literature and create an overall picture of the topic as planned. Practical implications The paper encourages managers to use empowering e-mail marketing strategies and presents several suggestions for future e-mail marketing research. Originality/value The paper uses a new perspective, consumer empowerment as a lens for understanding e-mail marketing. Because e-mail marketing is currently very popular among marketers but is threatened by its negative image among consumers, it is important to understand how e-mail marketing can be developed so that it can also survive in the future.

Troubled waters: the transformation of marketing in a digital world

Abstract: Purpose This paper aims to establish how strategic target-market selection decisions are shaped, challenged and driven in response to the rapidly evolving technological landscape. The authors critically evaluate the implications of these changes for the role of marketers and the organizational function of marketing. Design/methodology/approach The research uses qualitative methods. Key-informant interviews are conducted among senior organizational practitioners within client-side organizations, digital agencies and strategic marketing consultancies, seeking to contrast their views. Findings The findings reveal an erosion of responsibility for the integrated strategic role of marketing decision-making. In particular, the authors reveal that the evolving digital landscape has precipitated a sense of crisis for marketers and the role of marketing within the firm. This extends beyond simply remedying a skills-gap and is triggering a transformation that has repercussions for the future of marketing and its practice, thus diminishing functional accountability. Research limitations/implications The findings have long-term implications for marketing as a strategic organizational function of the firm and for marketing as a practice. Originality/value The study considers an increasingly digitalized marketplace and the associated impact of big data for the function of marketing. It reveals the changing scope of strategic marketing practice and functional accountability.

Basic Marketing A Global Managerial Approach

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Antecedents and outcomes of marketing innovation: An empirical analysis in the hotel industry

Abstract: Purpose The purpose of this paper is to analyze the influence of knowledge resources on marketing innovation and the way learning capability mediates this relationship. In addition, it evaluates the effect of marketing innovation on the financial performance of hotel firms. Design/methodology/approach Data from a survey conducted in companies that operate hotel establishments are analyzed using structural equation modelling (SEM). The SEM technique makes it possible to evaluate the multiple and intersected relationships existing among the variables under study. Findings Collective knowledge has a direct influence on marketing innovation and an indirect effect through the learning capability, but the influence of the knowledge held by individuals on marketing innovation is exercised through the learning capability. In turn, both the learning capability and marketing innovation favor the financial performance of hotel firms. Research limitations/implications The study shows that intangible resources play an important role in achieving marketing innovation and financial performance. Because the hospitality industry is composed of firms with different characteristics, it would be relevant to confirm the model in other hospitality businesses. Future studies could analyze possible links between marketing innovation and other types of performance. Practical implications Hotel firms can reach higher performance levels if they invest in developing the employees’ knowledge and, fundamentally, in fomenting a higher level of collective knowledge related to the business environment in general. Likewise, the learning capability plays a relevant role in achieving performance in hotels firms. Originality/value To date, studies on innovation in the field of hospitality have mainly focused on developing new services, while other types of innovation, such as marketing innovation, have taken a backseat. Likewise, the hospitality literature has paid little attention to knowledge assets. This study deals with both topics, analyzing knowledge resources and the learning capability as possible antecedents of marketing innovation activities. Furthermore, the effect of marketing innovation on the firm’s performance is evaluated.

How TOMS’ “one day without shoes” campaign brings stakeholders together and co-creates value for the brand using Instagram as a platform

Abstract: Purpose – The purpose of this paper is to demonstrate the power of social media networks, namely Instagram, in building brand communities and co-creating value for brands. By analysing the 2015 campaign #withoutshoes by TOMS, the authors intend to demonstrate how the value creation process can be extended to involve all stakeholders and raise the effectiveness of a brand’s communication campaign. Design/methodology/approach – A qualitative approach was taken to enable an understanding of online consumer behaviour. A series of qualitative semi-structured interviews were conducted with retail and marketing professionals from the TOMS brand to explore brand strategy. The TOMS Instagram account was analysed for a specific marketing communications event and summative content analysis was applied to the brand’s Instagram profile in order to allow for an in-depth exploration of the co-creation process. Triangulation was used for the multiple sources of evidence in order to build the study and to establish the co...

Customer empowerment in the digital age

Abstract: The Internet and advances in digital technologies fundamentally are transforming marketing. Armed with an abundance of information and opportunities, consumers no longer accept the role of passive recipients of marketing communication. This is turning traditional communication approaches upside down