Pub Date : 2010-11-01DOI: 10.2478/GFKMIR-2014-0062
D. O'sullivan, Andrew V. Abela
Abstract It has been widely argued that an inability to account for marketing’s contribution has undermined its standing within the company. Furthermore, the effect of marketing activities on business success is underestimated. To respond to this pressure, marketers are investing in the development of performance measurement abilities. In this study of senior marketing managers in high-tech firms, the effect of the ability to measure marketing performance against business performance is examined. The authors also explore the effect of the ability to measure marketing against marketing’s status within the company. Results indicate that this ability is essential given that it has a significant impact on company performance, profitability, stock returns, and marketing’s stature within the company. Considering these effects, the closing managerial implications are highly relevant for marketing professionals
{"title":"Proving Marketing Success Pays Off! Marketing Performance Measurement and its Effects on Marketing’s Stature and Firm Success","authors":"D. O'sullivan, Andrew V. Abela","doi":"10.2478/GFKMIR-2014-0062","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0062","url":null,"abstract":"Abstract It has been widely argued that an inability to account for marketing’s contribution has undermined its standing within the company. Furthermore, the effect of marketing activities on business success is underestimated. To respond to this pressure, marketers are investing in the development of performance measurement abilities. In this study of senior marketing managers in high-tech firms, the effect of the ability to measure marketing performance against business performance is examined. The authors also explore the effect of the ability to measure marketing against marketing’s status within the company. Results indicate that this ability is essential given that it has a significant impact on company performance, profitability, stock returns, and marketing’s stature within the company. Considering these effects, the closing managerial implications are highly relevant for marketing professionals","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"97 1","pages":"42 - 49"},"PeriodicalIF":0.0,"publicationDate":"2010-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86046971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-11-01DOI: 10.2478/GFKMIR-2014-0064
S. Reddy
Abstract Today we live in a truly global economy, no matter whether we talk about goods, services or manpower. Whereas economic growth rates in Europe and North America remain moderate, many Asian countries are booming despite last year´s economic downturn. This is reason enough for MIR to take a closer look at one of the rising stars: India. In June 2010, MIR talked to Vinita Bali, one of the few female CEOs of leading companies, who has worked in influential marketing positions on five continents. In describing how Britannia, one of the most famous Indian brands, handles everyday business and marketing challenges, she delivers a bright picture of the Indian economic situation
{"title":"MIR talks to Vinita Bali, Managing Director and CEO of Britannia Industries","authors":"S. Reddy","doi":"10.2478/GFKMIR-2014-0064","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0064","url":null,"abstract":"Abstract Today we live in a truly global economy, no matter whether we talk about goods, services or manpower. Whereas economic growth rates in Europe and North America remain moderate, many Asian countries are booming despite last year´s economic downturn. This is reason enough for MIR to take a closer look at one of the rising stars: India. In June 2010, MIR talked to Vinita Bali, one of the few female CEOs of leading companies, who has worked in influential marketing positions on five continents. In describing how Britannia, one of the most famous Indian brands, handles everyday business and marketing challenges, she delivers a bright picture of the Indian economic situation","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"44 1","pages":"52 - 60"},"PeriodicalIF":0.0,"publicationDate":"2010-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77424613","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/GFKMIR-2014-0070
T. Wiesel, B. Skiera, Julián Villanueva
Abstract Managers and investors need information about the performance and future prospects of a firm. If information is relevant in steering a business, it is also relevant for its investors’ investment decisions. Recent initiatives demand information that supplements and complements a firm’s financial statements to bridge the gap between financial statement capabilities and financial reporting objectives. Firms that aim to increase the value of their customer base should manage their business by future-oriented customer metrics. They should also report this information externally because it aligns customer management with corporate goals and investors’ perspectives. The authors propose a means to report customer equity that enables monitoring firms’ performance with respect to their customer assets. Furthermore, they develop a specific model for Netflix and apply it to quarterly reports that cover more than six years.
{"title":"My customers are better than yours! On Reporting Customer Equity","authors":"T. Wiesel, B. Skiera, Julián Villanueva","doi":"10.2478/GFKMIR-2014-0070","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0070","url":null,"abstract":"Abstract Managers and investors need information about the performance and future prospects of a firm. If information is relevant in steering a business, it is also relevant for its investors’ investment decisions. Recent initiatives demand information that supplements and complements a firm’s financial statements to bridge the gap between financial statement capabilities and financial reporting objectives. Firms that aim to increase the value of their customer base should manage their business by future-oriented customer metrics. They should also report this information externally because it aligns customer management with corporate goals and investors’ perspectives. The authors propose a means to report customer equity that enables monitoring firms’ performance with respect to their customer assets. Furthermore, they develop a specific model for Netflix and apply it to quarterly reports that cover more than six years.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"1 1","pages":"42 - 53"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76211660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/GFKMIR-2014-0069
P. Verhoef, P. Leeflang
Abstract What influence do marketing departments have in companies today? Which factors determine this influence? These are the issues discussed in the present article. Empirical evidence based on data from companies in the Netherlands demonstrates that accountability, innovativeness and customer connections are the three major drivers of influence. The need for a strong marketing department within companies is also discussed, supported by empirical data.
{"title":"Getting Marketing back into the boardroom: The influence of the marketing department in companies today","authors":"P. Verhoef, P. Leeflang","doi":"10.2478/GFKMIR-2014-0069","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0069","url":null,"abstract":"Abstract What influence do marketing departments have in companies today? Which factors determine this influence? These are the issues discussed in the present article. Empirical evidence based on data from companies in the Netherlands demonstrates that accountability, innovativeness and customer connections are the three major drivers of influence. The need for a strong marketing department within companies is also discussed, supported by empirical data.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"2 1","pages":"34 - 41"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77792324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/GFKMIR-2014-0067
Christian Homburg, Dirk Totzek, Mathias Droll
Abstract Focusing marketing efforts on the most valuable customers so as to increase company profits is not as straightforward as it seems. There is a downside to customer prioritization such as negative reaction from low priority customers. Taking this into account we still show that prioritizing customers does lead to higher profitability and more return on sales. There are two reasons for this. Firstly, it has a positive effect on the key characteristics of a firm’s relationship with its elite customers while not affecting the lower level. Secondly, it reduces sales and marketing costs. Customer prioritization is more effective and efficient than equal treatment. We also show that firms can rely on six key levers relating to a company’s organizational structure and processes, enabling proper implementation of customer prioritization.
{"title":"All Customers are Equal, but Some are More Equal Should Firms Prioritize their Customers ?","authors":"Christian Homburg, Dirk Totzek, Mathias Droll","doi":"10.2478/GFKMIR-2014-0067","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0067","url":null,"abstract":"Abstract Focusing marketing efforts on the most valuable customers so as to increase company profits is not as straightforward as it seems. There is a downside to customer prioritization such as negative reaction from low priority customers. Taking this into account we still show that prioritizing customers does lead to higher profitability and more return on sales. There are two reasons for this. Firstly, it has a positive effect on the key characteristics of a firm’s relationship with its elite customers while not affecting the lower level. Secondly, it reduces sales and marketing costs. Customer prioritization is more effective and efficient than equal treatment. We also show that firms can rely on six key levers relating to a company’s organizational structure and processes, enabling proper implementation of customer prioritization.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"1 1","pages":"16 - 25"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73782296","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/gfkmir-2014-0071
H. Diller
Abstract Today, it is not enough for Marketing Intelligence services to merely generate insights: it also has to manage them in such a way that they can ultimately result in successful marketing activities. In February 2010, MIR talked about such topics to Pieter Nota, Executive Board Member of Beiersdorf AG, a leading global player within the cosmetics industry. Pieter Nota is responsible for brand leadership of well known brands such as Nivea and Eucerin and he is renowned for his challenging ideas in marketing management.
{"title":"MIR talks to Pieter Nota, Beiersdorf AG","authors":"H. Diller","doi":"10.2478/gfkmir-2014-0071","DOIUrl":"https://doi.org/10.2478/gfkmir-2014-0071","url":null,"abstract":"Abstract Today, it is not enough for Marketing Intelligence services to merely generate insights: it also has to manage them in such a way that they can ultimately result in successful marketing activities. In February 2010, MIR talked about such topics to Pieter Nota, Executive Board Member of Beiersdorf AG, a leading global player within the cosmetics industry. Pieter Nota is responsible for brand leadership of well known brands such as Nivea and Eucerin and he is renowned for his challenging ideas in marketing management.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"55 1","pages":"54 - 54"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"74034995","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/GFKMIR-2014-0066
Ty Henderson, Neeraj Arora
Abstract An increasing number of brands in the marketplace are being linked to social causes. Such enhancements are called embedded premiums (EP) and can be quite effective as a sales promotion strategy. Across three experiments, using a nationwide internet panel, we find that (i) at low denominations EP is more effective than an equivalent price discount, (ii) EP benefits an unknown brand more than a known brand, (iii) an identifiable segment of individuals prefer the “other” over “self,” suggesting possible EP optimization and segmentation strategies, (iv) a customization strategy is shown to be more effective than a coverage strategy. These findings have broad implications for brand managers in regard to resource allocation and EP program ROI.
{"title":"Doing Well While Doing Good. Linking A Social Cause To Product Promotions: Why It Works And How To Make It More Effective","authors":"Ty Henderson, Neeraj Arora","doi":"10.2478/GFKMIR-2014-0066","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0066","url":null,"abstract":"Abstract An increasing number of brands in the marketplace are being linked to social causes. Such enhancements are called embedded premiums (EP) and can be quite effective as a sales promotion strategy. Across three experiments, using a nationwide internet panel, we find that (i) at low denominations EP is more effective than an equivalent price discount, (ii) EP benefits an unknown brand more than a known brand, (iii) an identifiable segment of individuals prefer the “other” over “self,” suggesting possible EP optimization and segmentation strategies, (iv) a customization strategy is shown to be more effective than a coverage strategy. These findings have broad implications for brand managers in regard to resource allocation and EP program ROI.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"21 1","pages":"8 - 15"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91077670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2010-05-01DOI: 10.2478/GFKMIR-2014-0068
M. Trusov, R. Bucklin, K. Pauwels
Abstract How large and lasting are the effects of word-of-mouth (WOM) referrals versus paid marketing? What is the $ / € worth of a WOM-referral to an Internet social networking site? This study finds that word-of-mouth referrals have substantially longer carryover effects than traditional marketing actions. The long-run elasticity of WOM on site signups is 0.53; about 20 times higher than that of marketing events, and 30 times that of media appearances. Based on revenue from advertising impressions served to a new member of the site, the monetary value of a WOM referral is about $0.75 per year. By sending out 10 referrals, each network member thus brings in $7.50 to the firm; which represents the maximum reward the firm could consider to incentivize word-of-mouth referrals. Managers can use this approach and findings to benchmark metrics for both WOM and traditional marketing, to test changes in online WOM referral content, and to decide on the appropriate size of financial incentives to stimulate WOM.
{"title":"Do you Want to Be my “friend”? MONETARY VALUE OF WORD-OF-MOUTH MARKETING IN ONLINE COMMUNITIES","authors":"M. Trusov, R. Bucklin, K. Pauwels","doi":"10.2478/GFKMIR-2014-0068","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0068","url":null,"abstract":"Abstract How large and lasting are the effects of word-of-mouth (WOM) referrals versus paid marketing? What is the $ / € worth of a WOM-referral to an Internet social networking site? This study finds that word-of-mouth referrals have substantially longer carryover effects than traditional marketing actions. The long-run elasticity of WOM on site signups is 0.53; about 20 times higher than that of marketing events, and 30 times that of media appearances. Based on revenue from advertising impressions served to a new member of the site, the monetary value of a WOM referral is about $0.75 per year. By sending out 10 referrals, each network member thus brings in $7.50 to the firm; which represents the maximum reward the firm could consider to incentivize word-of-mouth referrals. Managers can use this approach and findings to benchmark metrics for both WOM and traditional marketing, to test changes in online WOM referral content, and to decide on the appropriate size of financial incentives to stimulate WOM.","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"1 1","pages":"26 - 33"},"PeriodicalIF":0.0,"publicationDate":"2010-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83809846","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract All over the world the economic crisis has raised the number of households which are below the poverty line. A careful tracking of expenditures has become increasingly necessary to avoid financial distress. Models of spending behavior often implicitly assume that budget shoppers know how much they spend while shopping. As demonstrated here, this assumption is the exception rather than the rule
{"title":"Trying Harder and Doing Worse: How Grocery Shoppers Track in-Store Spending","authors":"Koert van Ittersum, J. Pennings, B. Wansink","doi":"10.1509/jm.74.2.90","DOIUrl":"https://doi.org/10.1509/jm.74.2.90","url":null,"abstract":"Abstract All over the world the economic crisis has raised the number of households which are below the poverty line. A careful tracking of expenditures has become increasingly necessary to avoid financial distress. Models of spending behavior often implicitly assume that budget shoppers know how much they spend while shopping. As demonstrated here, this assumption is the exception rather than the rule","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"4 1","pages":"50 - 51"},"PeriodicalIF":0.0,"publicationDate":"2010-02-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91004504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2009-11-01DOI: 10.2478/GFKMIR-2014-0075
Rebecca W. Hamilton, Joydeep Srivastava
Abstract Firms often use a pricing strategy in which they partition the total price of a product and/or service into two or more mandatory components, such as parts and shipping. In this research, we examine how dividing the same total price differently across the components affects customers’ reactions. In a series of studies, we show that customers systematically prefer partitions of the same total price in which the price of low benefit components (e.g., shipping) is lower and the price of high benefit components (e.g., parts) is higher. Thus, for effective pricing, markups on components that consumers believe provide a high degree of benefit should be higher than markups on components that consumers believe provide less benefit
{"title":"When 2 + 2 Is Not the Same as 1 + 3: Understanding Customer Reactions to Partitioned Prices","authors":"Rebecca W. Hamilton, Joydeep Srivastava","doi":"10.2478/GFKMIR-2014-0075","DOIUrl":"https://doi.org/10.2478/GFKMIR-2014-0075","url":null,"abstract":"Abstract Firms often use a pricing strategy in which they partition the total price of a product and/or service into two or more mandatory components, such as parts and shipping. In this research, we examine how dividing the same total price differently across the components affects customers’ reactions. In a series of studies, we show that customers systematically prefer partitions of the same total price in which the price of low benefit components (e.g., shipping) is lower and the price of high benefit components (e.g., parts) is higher. Thus, for effective pricing, markups on components that consumers believe provide a high degree of benefit should be higher than markups on components that consumers believe provide less benefit","PeriodicalId":30678,"journal":{"name":"GfK Marketing Intelligence Review","volume":"70 1","pages":"24 - 31"},"PeriodicalIF":0.0,"publicationDate":"2009-11-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73833126","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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