This is an extended summary of all lectures for the course Marketing and Innovation (1ZM11). This 44-page document (with a clickable table of contents for easier navigation) summarizes the essence of all topics covered in the course (as far as I could imagine when writing it). It includes as many i...
Table of contents
Lecture 1: customer value
Problem 1: identifying value & convincing customers (Gourville 2006)
Problem 2: eliminating value to increase profit
What is value? (Zeithaml 1988)
Tradeoff ‘Get’ and ‘Give’ Components
What is value? (Woodruff 1997)
Methods for understanding customer value
Means-End Chain (MEC) analysis
Customer value learning
Shifting attention
Impact on marketing
Lecture 2: market orientation
Perspectives on Market Orientation (MO)
Cultural perspective (Narver & Slater 1990)
Behavioral perspective (Kohli & Jaworski 1990)
Integrating both perspectives (Homburg & Pflesser 2000)
Impact of MO on performance
Role of the marketing department (Verhoef & Leeflang 2009)
Marketing excellence (Homburg, Theel, & Hohenberg 2020)
Main concepts
Conceptualizations of marketing excellence
Market Orientation vs Customer Orientation
The role of the marketing department: creating & improving MO
Beyond MO: Stakeholder Orientation (SO)
Lecture 3: marketing-R&D interface
Perennial problem: different perspectives between marketin and R&D
Integration mechanisms
Contingencies
Lack of mutual appreciation (Atuahene-Gima and Evangelista 2000)
Role of marketing’s technical knowledge
Lecture 4: markets as dynamic socio-cognitions
Institutional work (Kostova and Roth 2002)
New product category formation
Markets as socio-cognitions
Managerial cognitive representations (Tripsas & Gavetti 2000)
1ZM11 - course summary 1
, Evolution of cognitive structures (Rosa & Spanjol 2005)
Radical innovations entering the market
Abell’s 3D matrix
Lecture 5: adoption and diffusion
Technology Adoption Model
Adoption vs diffusion
Crossing the chasm
Marketing efforts and messages should be adjusted to the different adopter categories.
Risk perceptions (Paluch & Wünderlich 2016) & reduction
Buying as problem solving
Decision Making Unit (DMU)
Adoption intention vs adoption behavior (Arts, Frambach & Bijmolt 2011)
Resistance to innovation
Lecture 6: market research & customer involvement
Customer participation (Chain & Taylor 2015)
Who to involve? (Bonner & Walker 2004)
Market research techniques for radical new products
Lead user research
Customer involvement in small technology firms (Coviello & Joseph 2012)
Method of customer involvement (Cui & Wu 2017)
Lecture 7: conjoint analysis
Qualitative forecasting methods
Biases in judgement
Quantitative forecasting methods
Chain ratio method (decomposition method)
Bass diffusion model
Conjoint Analysis (CA)
Lecture 8: market launch
The impact of newness
Early vs majority market targeting (Schumacher, Kuester, and Hultink 2018)
Decisions involved
Tactical launch decisions
Network products (Lee & O’Conner 2003)
International roll-out
Lecture 9: Customer Relationship Management (CRM) & branding
Customer loyalty
Underlying mechanisms
Criticism on loyalty research
Predictive power of customer reports (Morgan & Rego 2006)
Understanding the customer
Investing in consumer relationships (DeWulff, Odekerken & Lacobucci 2001)
Brands
Creating vs exploiting a brand
Line extensions (Sinapuelas et al. 2015)
Brand equity
B2B vs B2C brands (Mudambi et al. 2002)
Lecture 10: Customer Lifetime Value (CLV)
Marketing accountability
Unobservable/perceptual customer metrics
Customer analytics
Customer Lifetime Value (CLV)
Lectures 11 & 12: servitization & hybrid offerings
Reasons for servitization
1ZM11 - course summary 2
, Transitioning to service provider & overcoming the service paradox
Consequences for marketing
Pricing services
Lecture 1: customer value
Problem 1: identifying value & convincing customers (Gourville
2006)
Loss aversion (prospect theory by Kahneman): the phenomenon where a potential loss is perceived as
psychologically or emotionally more severe than an equivalent gain.
Innovations are a trade-off between gains and losses that both impact customers’ decisions.
Customers overweigh the benefits of current products, while companies overweight the benefits of new products, resulting in
a 9x difference between customers and companies.
“If you realistically present to people what can be achieved in solving a problem,
they will find that completely uninteresting. You can’t get anywhere without some
degree of over-promising.” (Danny Kahneman)
1ZM11 - course summary 3
, The behavioral change of the customer must be considered as well (Rogers diffusion of innovation).
Problem 2: eliminating value to increase profit
Sometimes, eliminating value results in more lower-tier customers, thus increasing profits. However, lower-tier customers are
more likely to exit the relationship with the company.
What is value? (Zeithaml 1988)
Value is low price
Value is whatever I want in a product (subjective effect of product on consumer)
Compared to utility: utility is whatever the product provides (objective effect of product on
environment)
Value is the quality I get for the price I pay
Trade-off: single ‘get’ and ‘give’ components
Value is what I get for what I give
Trade-off: multiple ‘get’ and ‘give’ components
Tradeoff ‘Get’ and ‘Give’ Components
Bundle of benefits:
Product benefits
1ZM11 - course summary 4
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper im2123. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €7,44. Je zit daarna nergens aan vast.
