Samenvatting
Comprehensive summary of all articles in a table
- Instelling
- Universiteit Van Amsterdam (UvA)
Comprehensive summary of all articles in a table inclusive the method, main findings, main conclusions.
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InhoudsopgaveWeek 1.......................................................................................................................................................... 2
Article 1: The Effect of a Market Orientation on Business Profitability................................................................2
Article 2: Customer-Led and Market-Oriented: Let’s not confuse the two...........................................................4
Article 3: Frontiers of the marketing paradigm in the third millennium..............................................................6
Article 4: Customer experience management: towards implementing evolving marketing concept..................8
Week 2........................................................................................................................................................ 10
Article 1: Holistic customer insights as an engine of growth – Laughlin............................................................10
Article 2: Building an Insights Engine – Van den Driest, Sthanunathan & Weed (2016)...................................12
Article 3: User adoption of social networking sites: Eliciting uses and gratification through a means-end
approach – Pai & Arnott (2013)..........................................................................................................................14
Article 4: The new science of Customer Emotions – Magids, Zorfas, Leemon (2015)........................................15
Week 3........................................................................................................................................................ 17
Article 1: The elements of value measuring – and delivering – what customers really want – Almquist, Senior
& Bloch (2016)....................................................................................................................................................17
Article 2: Closing the Marketing Capabilities Gap – Day (2011)........................................................................18
Article 3: What drives customer equity – Lemon (2001)....................................................................................21
Article 4: Competing on Customer Journeys - Edelman & Singer (2015)...........................................................23
Article 5: Blue Ocean Strategy – From Theory to Practice – Kim & Mauborgne (2005).....................................25
Article 6: Blue Ocean vs Five Forces – Burke, Stel & Thurik (2010)....................................................................27
Week 4........................................................................................................................................................ 28
Article 1: A behavior modification perspective on marketing – Nord, Peter (1980)..........................................28
Article 2: Behavioural psychology, marketing and consumer behaviour – Wells (2014)...................................30
Article 3: Rewarding customers who keep a product: How reinforcement affects customers’ product return
decision in online retailing – Gelbrich (2017).....................................................................................................32
Article 4: Online Social Interactions: A natural experiment on Word of Mouth vs Observational Learning –
Chen (2011).........................................................................................................................................................33
Week 5........................................................................................................................................................ 34
Article 1: Brand extension feedback effects: A holistic framework – Dwivedi, Merrilees, Sweeny (2010).........34
Article 2: Brand architecture strategy and firm value: how leveraging, separating and distancing the
corporate brand affects risk and returns – Hsu, Fournier, Srinivasan (2016)....................................................36
Article 3: Building, measuring and profiting from customer loyalty – Watson, Beck, Henderson & Palmatier
(2015)..................................................................................................................................................................39
Article 4: Maintaining a committed online customer: A study across search experience- credence products –
Hsieh, Chiu & Chiang (2005)...............................................................................................................................41
Article 5: Comparing alternative approaches to estimate customer equity – Silveira, Olivera & Luce (2017). .42
,Week 1
Article 1: The Effect of a Market Orientation on Business Profitability
Why is the study Generated a broad stream of research on market orientation + new
been measure development.
conducted?
Research Explanatory study – 140 SBU’s of western corporation commodity vs
methods non-commodity
Empirical paper
Qualitative
Abstract Marketing academicians and practitioners have been observing for
more than three decades ness performance is affected by market
orientation, yet to date there has been no valid measure of market
orientation and hence no systematic analysis of its effect on a
business's performance . The authors report the development of a valid
measure of market orientation and analyse its eff ness's profitability.
Using a sample of 140 business units consisting of commodity products
and noncommunity businesses, they find a substantial positive effect of
a market orientation on the profitability of both types of business
Hypotheses
Main findings In order to consistently perform better than competitors a business
need a sustainable competitive advantage (SCA) to have superior value
over time. Market Orientation is the culture that creates behaviours for
SCAs (Increasing benefits-differentiation strategy or reduce costs / low-
cost strategy.
Market orientation consists of 3 behavioral components:
1. Customer orientation
2. Competitor orientation
3. Interfunctional coordination = based on the customer and
competitor information and comprises the business’s
coordinated efforts to create superior value for the buyers
Customer orientation + competitor orientation= all of the activities
involved in acquiring information about buyers and competitors in
target market and disseminating it throughout the business
And 2 decision criteria:
1. Long term focus
2. Profitability
A market orientation has primarily a long-term focus both in relation to
profits and in implementing each of the 3 behavioral components of
market orientation. A business must constantly discover and implement
additional value for its customers, which necessitates a range of
appropriate tactics and investments
Main conclusions It has most comparison to Slater & Narver (1998), both very
strongly in favour of MO and both support the idea that it’s vital for a
market-orientation to be integrated throughout the entire company, in
order to become successful.
Homburg (2017) has a contradicting opinion and disagrees with
most statements. Homburg claims that MO itself can provide a
weakness, as it lacks a strategic perspective on concrete market-facing
decision-making.
Compared to Achrol & Kotler (2012), this article provides a more
concrete vision of marketing. It is more focused on the general (future)
developments in the marketing area.
Important Customer orientation
= The sufficient understanding of one’s target buyers to be able to
,Definitions create superior value for them continuously.
= Requires that a seller understand a buyer’s entire value chain
Competitor orientation
= A seller understands the short-term strengths and weaknesses and
long-term capabilities and strategies of both the key current and the
key potential competitors
Interfunctional coordination
= The coordinated utilization of company resources in creating superior
value for target customers
Commodity
= Physical products like oil/gold
Non commodity
= Specialty products/ distribution businesses like Apple
, Article 2: Customer-Led and Market-Oriented: Let’s not confuse the
two
Why is the This research supports the conclusion of many experts on the innovation
study been process that a market orientation is essential to success. Zooms in on the
Customer Orientation of the previous article.
conducted?
Research Conceptual paper whereby authors distinguish 2 types of customer
methods orientation that are frequently confused and they show that both
orientations can contribute to success.
Abstract Christensen and Bower (1996) report the results of a study of how customer
power contributes
to the failure of leading firms during a period of industry discontinuity. They
conclude that developing a customer orientation appears not to be wise
advice under these conditions. However, this conclusion is contradicted by
long-standing theory and recent research in marketing. In this commentary
we distinguish between two forms of 'customer orientation' that are
frequently confused. The first, a customer-led philosophy, is primarily
concerned with satisfying customers' expressed needs, and is typically short
term in focus and reactive in nature. The second, a market-oriented
philosophy, goes beyond satisfying expressed needs to understanding and
satisfying customers' latent needs and, thus, is longer term in focus and
proactive in nature. Based on theory and substantial evidence, the advice to
become market- oriented appears sound regardless of the market conditions
a business faces
Main findings The marketing concept says that an organization’s purpose is to discover
needs and wants in its target markets and to satisfy those needs more
effectively and efficiently than competitors.
In 1990 Kohli and Jaworski articulated a theory of market orientation that
they describe as the implementation of the marketing concept. This has
been refined and built upon.
Being customer led is a short term philosophy in which organizations
respond to customers’ expressed wants.
- Satisfying customers’ expressed needs and wants in existing markets -->
develop products that satisfy the needs.
- Based on measures of customer satisfaction
- Good for stable predictable markets, bad for dynamic environments
- Research to understand the customers’ needs in done through focus
group/ surveys limited reliability regarding purchase behaviour &
latent needs.
Advantage Disadvantage
- Sensible - Reactive
- Compelling - Short-term in focus
- Adaptive instead of generative
learning
Being market oriented represents a long term commitment to
understanding customer needs – both expressed and latent – and to
developing innovative solutions that produce superior customer value.
- They continuously create superior customer value by sharing knowledge
broadly throughout the organization and by acting in a coordinated and
focused manner.
- Scan the market more broadly
- Long-term commitment to understand customer needs; expressed and
latent needs (problems customers have, but do not realize)
- More likely to be generative learners (critical to innovation)
- Use many of the same traditional market research techniques as
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