Gaining Customer Experience Insights That Matter McColl-Kennedy, Janet R.; Zaki, Mohamed; Lemon, Katherine N. ...
Journal of service research : JSR,
02/2019, Letnik:
22, Številka:
1
Journal Article
Recenzirano
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Contextualized in postpurchase consumption in business-to-business settings, the authors contribute to customer experience (CX) management theory and practice in three important ways. First, by ...offering a novel CX conceptual framework that integrates prior CX research to better understand, manage, and improve CXs—comprised of value creation elements (resources, activities, context, interactions, and customer role), cognitive responses, and discrete emotions at touchpoints across the customer journey. Second, by demonstrating the usefulness of a longitudinal CX analytic based on the conceptual framework that combines quantitative and qualitative measures. Third, by providing a step-by-step guide for implementing the text mining approach in practice, thereby showing that CX analytics that apply big data techniques to the CX can offer significant insights that matter. The authors highlight six key insights practitioners need in order to manage their customers’ journey, through (1) taking a customer perspective, (2) identifying root causes, (3) uncovering at-risk segments, (4) capturing customers’ emotional and cognitive responses, (5) spotting and preventing decreasing sales, and (6) prioritizing actions to improve CX. The article concludes with directions for future research.
Brand equity is the differential preference and response to marketing effort that a product obtains because of its brand identification. Brand equity can be measured using either consumer perceptions ...or sales. Consumer-based brand equity (CBBE) measures what consumers think and feel about the brand, whereas sales-based brand equity (SBBE) is the brand intercept in a choice or market share model. This article studies the extent to which CBBE manifests itself in SBBE and marketing-mix response using ten years of IRI scanner and Brand Asset Valuator data for 290 brands spanning 25 packaged good categories. The authors uncover a fairly strong positive association of SBBE with three dimensions of CBBE—relevance, esteem, and knowledge—but a slight negative correspondence with the fourth dimension, energized differentiation. They also reveal new insights on the category characteristics that moderate the CBBE-SBBE relationship and document a more nuanced association of the CBBE dimensions with response to the major marketing-mix variables than heretofore assumed. The authors discuss implications for academic researchers who predict and test the impact of brand equity, for market researchers who measure it, and for marketers who want to translate their brand equity into marketplace success.
The increase in the variety of channel formats, and the progression from single, to multi-, then to omni-channel marketing has made shopping and buying more convenient for consumers, but trickier to ...manage for marketers—both upstream suppliers and downstream retailers. The first step in managing multi- and omni-channel distribution is to find the specific metrics that will facilitate reliable analysis of the relationship between distribution and marketing objectives. That is our primary goal in this article—to present the metrics, both old and new, that marketers, both suppliers and retailers, need to monitor, and that academic researchers, both theoretical and empirical, should incorporate in their models. We present a basic framework for managing distribution, and summarize the metrics that are relevant to each element of the framework. Then, we lay out what we believe are important questions that multi- and omni-channel marketers are grappling with, refer the reader to what existing academic research has to say about them, and suggest how future research can build off our framework and metrics to supplement what is known and address what is not.
Purpose
Despite the availability of many metrics and tools for marketing performance measurement, the way in which firms use their marketing metrics remains underexplored. This study aims to address ...this gap by empirically establishing the differing effects of the diagnostic and interactive uses of marketing metrics on firms’ market-sensing capability, contingent on competitive intensity and focus on market-related metrics.
Design/methodology/approach
This study builds on survey data collected from 210 Irish-based firms, complemented by 21 in-depth interviews with business managers. Survey data are analysed using regression analysis.
Findings
This study finds that firms using marketing metrics interactively to communicate organizational focus are better able to sense their markets, especially under high competition. The authors observe a positive impact of the interactive use of metrics on market-sensing capability, but a U-shaped impact of their diagnostic use, the magnitudes of which further depend on competitive intensity and firms’ focus on market-related metrics.
Research limitations/implications
This study provides a nuanced view of marketing performance measurement (MPM) practices within firms, particularly focussing on diagnostic versus interactive uses of marketing metrics. It also sheds further light on how two diverse uses of marketing metrics – diagnostic and interactive uses – influence a firm’s market-sensing capability. Moreover, the identification of boundary conditions also contributes to the discussion of contextuality in MPM, highlighting the importance of aligning a firm’s uses of marketing metrics with its business environment.
Practical implications
This study provides novel insights into how diverse uses of marketing metrics may benefit firms. The differing effects of diagnostic and interactive uses of marketing metrics on market sensing highlight a primary need for developing the latter and for using the former only with caution. It establishes that all firms would equally benefit from an interactive use of marketing metrics that is pivotal to improving their ability to anticipate, detect and sense market changes.
Originality/value
This study provides novel understanding of the role of marketing metric uses in firms’ market-sensing capability and contributes to the discussion of contextuality in marketing performance measurement. It highlights the importance of aligning a firm’s use of marketing metrics with its business environment.
Radical innovation is an important driver of the growth, success, and wealth of firms and nations. Because of its importance, authors across various disciplines have proposed many theories about the ...drivers of such innovation, including government policy and labor, capital, and culture at the national level. The authors contrast these theories with one based on the corporate culture of the firm. They test their theory using survey and archival data from 759 firms across 17 major economies of the world. The results suggest the following: First, among the factors studied, corporate culture is the strongest driver of radical innovation across nations; culture consists of three attitudes and three practices. Second, the commercialization of radical innovations translates into a firm's financial performance; it is a stronger predictor of financial performance than other popular measures, such as patents. The authors discuss the implications of these findings for research and practice. PUBLICATION ABSTRACT
Organizing for Marketing Excellence Moorman, Christine; Day, George S.
Journal of marketing,
11/2016, Letnik:
80, Številka:
6
Journal Article
Recenzirano
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 research priorities outlined for the elements of marketing organization, their integration, and their impact on the 7As offer directions for the study of organizing for marketing excellence.
Consumers are adopting increasingly active roles in co-creating marketing content with companies and their respective brands. In turn, companies and organizations are looking to online social ...marketing programs and campaigns in an effort to reach consumers where they ‘live’ online. However, the challenge facing many companies is that although they recognize the need to be active in social media, they do not truly understand how to do it effectively, what performance indicators they should be measuring, and how they should measure them. Further, as companies develop social media strategies, platforms such as YouTube, Facebook, and Twitter are too often treated as stand-alone elements rather than part of an integrated system. This article offers a systematic way of understanding and conceptualizing online social media, as an ecosystem of related elements involving both digital and traditional media. We highlight a best-practice case study of an organization's successful efforts to leverage social media in reaching an important audience of young consumers. Then, we conclude with several insights and lessons related to the strategic integration of social media into a firm's marketing communications strategy.
Artificial Intelligence is poised to transform all facets of marketing. In this study, we examine the link between firms’ focus on AI in their 10-K reports and their gross and net operating ...efficiency. 10-K reports are a salient source of insight into an array of issues in accounting and finance research, yet remain relatively overlooked in marketing. Drawing upon economic and marketing theory, we develop a guiding framework to show how firms’ AI focus could be related to gross and net operating efficiency. We then use a system of simultaneous equations to empirically test the relationship between AI focus and operating efficiency. Our findings confirm that US-listed firms are in a state of impending transformation with regards to AI. We show how AI focus is associated with improvements in net profitability, net operating efficiency and return on marketing-related investment while reducing adspend and creating jobs.
The marketing literature shows the necessity of an increased disclosure of marketing metrics. However, very few studies have examined its importance from a reverse lens—the result of withdrawing ...disclosure is scant. This study provides a new perspective by examining whether and when the withdrawal of marketing metrics affects the shareholder value of a focal firm. We center on one voluntarily disclosed marketing metric: monthly comparable store sales (CSS) in the retail industry. We conduct an event study to analyze the monthly CSS cessation announcements of 94 chain retailers. The empirical results show that withdrawal events do not necessarily decrease retailers’ abnormal returns. The decrease or increase in abnormal returns depends on external and internal factors. Retailers facing lower industry competition and higher forecast errors experience lower abnormal returns. However, those with less diversified customer bases, better retailing outcomes, and fewer intangible resources experience higher abnormal returns for withdrawal decisions.
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