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Summary Compulsory papers Marketing Channel Management: Lecture 1 t/m 8 - Marketing Management $6.65
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Zusammenfassung

Summary Compulsory papers Marketing Channel Management: Lecture 1 t/m 8 - Marketing Management

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  • Kurs
  • Marketing Channel Management
  • Hochschule
  • Tilburg University (UVT)

Compulsory papers course marketing channel management - Tilburg University Master Marketing Management. Important: these are the papers from lecture 1 - lecture 8.

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Dokument Information

  • 5. oktober 2018
  • 40
  • 2018/2019
  • Zusammenfassung

Themen

  • channel management
  • marketing management
  • brand management
  • tilburg
  • universiteit van tilburg
  • geyskens
  • roest
  • channel
  • management
  • marketing
  • papers
  • compulsory papers
  • tilburg university
  • exam

Schule, Studium & Fach

  • Tilburg University (UVT)
  • Marketing Management
  • Marketing Channel Management
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Inhaltsvorschau

Marketing Channel Management 2018/2019 – Articles Summary –
Mw. I. Geyskens
Everything what is discussed in class
Typically: the introduction, the theory, the results, and the discussion sections (data and
method sectons do not have to ee studied)



Inhoudsopgave
Marketng Channel Management 2018/2019 – Artcles Summary – Mw. I. Geyskens.......................................1
An internatonal empirical analysis o the per ormance o manu acturers and retailers – M. Corstjens and R.
Steele (2008). (foris)............................................................................................................................................2
Retailer power in the grocery industry – I. Geyskens (2017)...............................................................................4
Will the real channel manager please stand up? – R.E. Anderson et al. (2003)..................................................7
Determinants o Distrieuton Intensity – G.L. Frazier (1996)...............................................................................9
Learning module 3: John, George and Barton A. Weitz (1988), Forward integraton into distrieuton: An
empirical test o transacton cost analysis, Journal o Law, Economics, and Organizaton, 4 (2), 337-355......11
Stuckey, John and David White (1993), When and when not to vertcally integrate, MIT Sloan Management
Review, 71-83.....................................................................................................................................................14
How to Win in an Omnichannel World – D.R. Bell et al. (2014).........................................................................19
Do You Really Want to Be an eBay – A. Hagui and J. Wright (2013).................................................................24
Lecture 6 The Dark Side o Close Relatonships – E. Anderson and S.D. Jap (2005)...........................................26
The Power o Trust in Manu acturer-Retailer Relatonships..............................................................................29
Lecture 7: Should you invest in the long tail? – A. Eleerse (2008).....................................................................33
Lecture 7: Which products should you stock? Fisher et al. (2012).....................................................................35
(wee)lecture 8: collaeoratng in an imper ect world – U. Sueramanian & J.S. Raju (2011)..............................38

,An international empirical analysis of the performance of
manufacturers and retailers – M. Corstjens and R. Steele (2008).
(foris)

Introducton
The research in this paper compares the relatve per ormance o FMCG manu acturers and
retailers. It adds to the existng literature in specifc ways:
1. Although since the 1980s retailers have further strengthened their positon vs.
manufacturers via more intensive store brand policies, increased concentraton and
consolidaton, the development of ne formats and the use of sophistcated
informaton technologyo to manage their logistcs, their assortment and their
shoppers, our results confrm that retailers have not outperformed their suppliers.
2. The riters suggest that these results are driven byo:
a. Stll more immature state of retailing relatve to manufacturers
b. The retailers cost structure
c. The fact that consumers are more price sensitve to the retail ooer than to the
manufacturer brand ooer

1 Retailer power and performance
1.1 Retailer power
The majorityo of respondents from both sectors (retailers and manufacturers) have believed
that po er contnued to shif to retailers. Evidence of increased retailer po er is also
refected in the ayo manufacturers are reuuired to invest to improve the economics of
retailers. The reasons for this increase in power are also ell understood:
- Increased in retail concentraton
- Increased use of private label
- Increased use of informaton technologyo
- Scarcityo of shelf-space relatve to number of ne products launched

1.2 The transfer of resources from manufacturers to retailers
There is evidence that the cost to manufacturers of doing business ith major retailers has
increased. For example, trade spending has taken an increasing share of marketng spending.
Also trade promoton spending increased due to increased retailer concentraton.

1.4 The performance of retailers
It is clear that retailer have become more po erful, that more resources are being
transferred from manufacturers to retailers and that retailers are retaining at least some of
these resources (1.3). Evidence that retailers have outperformed manufacturers are mixed.
In summaryo, the literature provides plentyo of evidence that the balance of po er has shifed
to ards retailers, but the evidence this po er change has been translated into performance
is mixed.


3. Empirical results: performance of retailers and manufacturers
3.1 Operatng performance
The dioerence in operatng performance bet een the t o sectors is striking: hile retailers
have delivered superior average annual sales gro th, manufacturers margins have been

,consistentlyo higher. Our results suggest that although retailers have gained power, they have
not out-per ormed manu acturers in terms o aesolute economic proft. Both in North
America and Europe, retailers have stronger sales growth and manufacturers dominate in
economic proft margin.

3.2 Performance to shareholders
Our analyosis of stock market performance sho s that manufacturers also out-performed
retailers ith respect to TSR and this gap bet een the shareholder performance of the t o
sectors is idening. It therefore appears that manufacturers have provided the stock
market ith more positve surprises.

3.3 Performance of retailers and manufactures: summary
1. Retailers have gro n sales faster than manufacturers, on other operatng and
shareholder performance metrics, retailers have not outperformed manufacturers
(e.g. on margins).
2. Manufacturers have outperformed retailers on the stock market.
3. The trend in shareholder performance sho s that manufacturers have extended
their out-performance vs. the retail sector over tme.

4. Towards an explanaton of the diference in performance
- Retailers are failing to translate po er into improved fnancial performance,
explanatons for this phenomenon:
o Structural factors: the retail sector is less mature than the manufacturing
sector
 Also, retailers are ofen not (yoet) internatonal oriented, and building
an internatonal presence is expensive. Manufacturers are alreadyo on
the internatonal market.
 In additon, manufacturer categories are tyopicallyo more concentrated
and therefore more proftable (3-- major manufacturers) retail has
onlyo recentlyo started to approach the same level of consolidaton.
o Strategic factors: the retail sector is more driven to ards price competton.
 References to price-based competton (discount and cheap) are more
freuuent for retailers than for manufacturers, but the reverse is true
for indicators of brand dioerentaton (innovaton and brand).
 Retailers’ thin margins and high fxed store operatng costs mean that
theyo need to retain all shopper groups. Losing shopper trafc means
that profts turn to losses.
 Retailers are in a dilemma: cut price or invest in non-price
dioerentaton.

, Retailer power in the grocery industry – I. Geyskens (2017).

1. Introducton
Retailing has become big business. Indeed, retailers no rank among the biggest
corporatons in the orld, ofen d arfng their largest suppliers. Through their sheer size,
retailers have become the gatekeepers to shoppers, the end users of CPG products
(consumer packaged goods). As a result, these retailers can confront suppliers ith various
demands:
- Lo er pricing
- Accelerated deliveryo tmes
- More tailored promotonal programs
- More sustainable products and processes
And mayo temporarilyo stop selling certain products if a manufacturer does not complyo ith
their demands. This chapter provides an overvie of hyo retailers are in the driving seat. It
distnguishes bet een t o sources of retailer po er: 1. Gro ing retailer scale, and 2.
Gro ing retailer sophistcaton.

2. Sources of Retailer Power: Growing Retailer Scale
Larger frms tend to have more market po er, as theyo enjoyo economies of scale. Retailers
have achieved economies of scale through setng up internatonal operatons, engaging in
mergers and acuuisitons, and entering into buyoing groups.

2.1 Internatonalizaton
The fact that retailers have set up internatonal operatons has undoubtedlyo contributed to
the remarkable shif in po er from manufacturers to retailers. Indeed, frms entering
emerging markets mayo need to rethink their strategies instead of using their developed
orld isdom as a default opton.

2.2. Mergers and acquisitons
Indeed, being able to preempt (aankopen) the most atractve store sites mayo substantallyo
increase the sales potental of the retailer’s ne stores in the countryo. Firms considering an
entryo in countries here manyo retailers are alreadyo actve should realize that the most
atractve positons have been taken for some tme. This issue is less important hen optng
for a merger and acuuisiton as the retailer mayo acuuire or merge ith an earlier entrant that
occupies the beter locatons. Van Lin and Gijsbrechts (2014) fnd that consumers exhibit
outlet loyoaltyo afer a store changes o nership. Moreover, acuuiring outlets ith a clientele
in place leads to higher store trafc levels than the acuuiring retailer could reach byo opening
ne outlets, hich implies that acuuisitons increase retailer po er more than organic
gro th does.

2.3 Buying groups
Buyoing groups are horizontal, tyopicallyo cross-border collaboratons through hich retailers
purchase from suppliers. Byo pooling volume and using their clout, larger buyoing groups can
keep suppliers “on their toes” and extract beter buyo-in prices than might be achieved
through individual negotaton. Lo er buyo-in prices mayo result in higher margins but also
enable retailers to (selectvelyo) reduce retail prices, hich in turn mayo increase retailer sales.
Buying groups are the most powerful partcipants in the market.

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