What if your owners also own other firms in your industry? The relationship between institutional common ownership,marketing, and firm performance

The growth in institutional holdings of public firms has led to increased interest in the concept of common ownership, in which the same investor owns stakes in multiple firms within the same industry. Economic theory suggests that common ownership could affect firm performance, but little empirical research has examined the nature of this effect or how a firm’s extant marketing potentially relates to this effect. This paper addresses this gap by proposing a relationship between common ownership and firm performance that is moderated by the firm’s extant marketing capabilities and its relative marketing strategic emphasis. Our empirical approach employs data from over 43 million institutional holdings to develop a measure of common ownership and accounts for empirical issues like endogeneity and unobserved heterogeneity. The results document a positive relationship between common ownership and firm performance and provide some evidence that this effect is stronger for firms with lower marketing capabilities and a relative strategic emphasis towards R&D spending. These results suggest that public policymakers should consider the firms’ extant strategic marketing when assessing regulations on common ownership.     

Upstream social marketing strategy: An integrated marketing communications approach

This article provides an organized approach for managers to develop social marketing strategies that target upstream decision and policy makers. A conceptual application model and five-stage process is presented for an upstream social marketing strategy based on integrated marketing communications (IMC). IMC concepts are described in the context of social marketing, as well as specific stages for creating an IMC social marketing strategy; these include target audience research and determination, channel selection and integration, strategic message creation, and measurement and control. A central and novel feature of the IMC social marketing strategy model is the simultaneous targeting of an upstream decision maker and influential peripheral (upstream) audiences in order to triangulate and increase campaign effectiveness. An IMC approach to upstream social marketing ensures consistent, persuasive messages specifically crafted for the selected target audiences and coordinated through precise channels to maximize impact. This multi-channel, multi-audience approach to message creation and channel selection produces synergies that increase the potential to influence an upstream decision/policy maker.     

Revisiting the IMC construct

This paper re-examines a definition of integrated marketing communications (IMC) previously published in this journal, and proposes a revision to that original definition. It reviews topics of research studies conducted on IMC since its inception to the present, and establishes that the theoretical foundations and definitional issues of IMC continue to be an important area of research for most academics. This paper introduces the four pillars of IMC as an offshoot of the proposed revised definition, and discusses each pillar in detail. The paper concludes by illustrating the interplay between the pillars and levels of IMC.     

The application of "integrated marketing communications" to social marketing and health communication: organizational challenges and implications

Influencing consumer behavior is a difficult and often resource-intensive undertaking, with success usually requiring identifying, describing, and understanding target audiences; solid product and/or service positioning relative to competitors; and significant media and communication resources. Integrated marketing communication (IMC) is a new way of organizing and managing persuasive communication tools and functions which involves realigning communications to consider the flow of information from an organization from the viewpoint of end consumers. Although the application of IMC to social marketing remains relatively unexplored, the IMC literature and recent efforts by the US Centers for Disease Prevention and Control suggest that integrated communication approaches have much to offer social marketing and health communication efforts. IMC, IMC and social marketing, and implications of IMC for public and private sector social marketing programs are discussed.     

IMC–performance relationship: further insight and evidence from the Australian marketplace

As markets become increasingly competitive and the associated brand-related marketing communications activity more frenetic, the need to understand how to gain better outcomes from marketing communications efforts is paramount, especially in terms of creating and leveraging market-based assets. This paper presents the results of research into the relationship between the management of marketing communications, from an integrated marketing communications (IMC) perspective, and brand-related performance in smaller and medium-sized service and consumer goods firms. The paper employs the mini-communications management audit devised by Duncan and Moriarty (1997) as a mechanism for examining key IMC issues. Analysis is presented on differences between high-, medium- and low-performing firms. The analysis suggests that firms with higher levels of integration in the management of marketing communications also have higher levels of brand-related performance.     

Inhibition of Brand Integration amid Changing Agency Structures

The all‐important focus upon brands and brand success is underpinned – of necessity – by well‐designed and well‐executed integrated marketing communications (IMC). This qualitative paper explores perceptions of IMC in relation to branding within senior UK‐based advertising and public relations agencies in terms of current perceptions, implementation, coordination, evaluation, barriers, budgetary issues, decision‐making; and managerial implications for the future of IMC. The paper describes the findings from a series of depth interviews with senior executives from leading advertising and public relations agencies. While the findings do indicate the presence of ongoing barriers to the adoption and usage of integrated solutions, these barriers are as much an issue to do with clients as with the agencies themselves. Nonetheless, there seems to be an issue concerned with remodelling working practices to accommodate new and seamless ways of working creatively across all promotional mix elements. Thus, while the principles of integrated marketing communications are sound, the actual mechanisms for application still need further work –in terms of both application and measurement, and the need for in‐depth research. We also endorse and reiterate oft‐repeated calls for research with client organizations.     

Integrated Marketing Communications and Market Planning

Abstract

This article links the integrated marketing communications (IMC) concept to the planning process in marketing. Following the current conceptualizations as a combination of various marketing communications tools, IMC strategy is applied to an established strategic market planning model named the Boston Consulting Group (BCG)'s growth-share matrix. Advertising, public relations, sales promotion, and direct marketing are defined as crucial elements for the core scheme. Alternative strategies for brands in different stages are identified from the product portfolio analysis. The view may also be thought of as the ongoing process of building and maintaining brand equity for consumers in the long-term period. Conceptual discussions are expected to help marketers think more strategically as they plan IMC programs for their products or services.     

Organising IMC roles and functions in the business‐to‐business network environment

As products and distribution channels become more homogenised, and competing on the basis of price more difficult, integrated marketing communications (IMC) has been identified as the ‘new frontier’ for effective differentiation. Research identifying roles and functions of IMC has primarily been focused on firms operating in the final consumer market. This research seeks to extend our understanding of the role and functions of IMC in business‐to‐business markets, with specific reference to an industry network. In order to achieve this, this paper explores the roles and functions (i.e. the associated organisation of IMC activities) adopted by the Tasmanian Light Shipbuilding Network (TLSN). In total, this research found evidence of three distinct roles (IMC Champion, Government Lobbyist, and Network Ambassador) that together served to implement the IMC functions of gathering, analysing and disseminating key marketing information throughout the network of firms. This research also presents an IMC framework that represents the manner in which the various network members coordinated the various IMC roles and functions.     

Do adhocracy and market cultures facilitate firm-wide integrated marketing communication (IMC)?

The conceptualization of integrated marketing communication (IMC) has evolved from the marketing communications-centered approach (in the early 1990s) to a broader, firm-wide organizational perspective. The latter is adopted in this research to define IMC as a multidimensional concept. This study was conducted to develop a measurement instrument to assess IMC and examine the role of organizational culture in IMC implementation. Data were gathered via an online survey conducted among CEOs and other senior managers. The findings provide evidence of the reliability and validity of the proposed IMC scale and demonstrate that the dominance of an adhocracy (vs. market) culture contributes to building a more IMC-friendly organizational environment.     

THE LEGAL CHALLENGE OF INTEGRATED MARKETING COMMUNICATION (IMC): Integrating Commercial and Political Speech

The application of First Amendment commercial speech doctrine to integrated marketing communication (IMC) demonstrates that the integration of public relations messages with advertising and marketing messages may dilute the constitutional protection afforded corporate speech. This analysis of U.S. Supreme Court precedents shows that by intermingling political expression with commercial expression, a corporation may expand the range of communication that may be defined and regulated as commercial speech. The additional review of a California Supreme Court case that redefined commercial speech to include public relations messages illustrates the potential for heightened regulation of integrated marketing communication.     

The Impact of Brand Equity and the Company's Reputation on Revenues

Abstract

This paper intends to establish the relationships among variables in corporate communications, especially between advertising and public relations, and to form an evaluation model for integrating the effects of brand equity and the company's reputation in the context of integrated marketing communications (IMC). A new approach for integrating the effects of brand equity and the company's reputation was introduced and the IMC evaluation model was specified for testing. The proposed model was tested with existing secondary data. The outcomes indicated that both brand equity and the company's reputation have significant impact on revenues and showed the positive relationship between brand equity and the company's reputation in the proposed model to justify the need of IMC in overall corporate communications.     

The Physical Attractiveness Phenomena. Patzer,Gordon L. New York: Plenum Press, 1985. 308 Pp. $39.50

This paper presents integrated marketing communication (IMC) and brand identity as critical components of the firm's brand equity strategy. Specifically, the authors provide a brand equity strategy schematic that details (1) the role of IMC in creating and maintaining brand equity, and (2) the role of brand identity in informing, guiding, and helping to develop, nurture, and implement the firm's overall IMC strategy. The authors also present a conceptual framework with testable research propositions toward IMC theory development. Finally, a discussion of implications for academics and practitioners is provided, and opportunities for future qualitative and quantitative research are suggested.     

Twenty years of IMC

This article examines the understanding and practice of integrated marketing communications (IMC) in organisations since its inception 20 years ago. It analyses a survey conducted among chief executive officers (CEOs) of marketing communications agencies, chief marketing officers (CMOs) of client companies, and other senior leaders of the industry in the Asia-Pacific region. It then looks into the similarities and differences between academics’ and practitioners’ understanding and practice of IMC.     

IMC: Has anything really changed? A new perspective on an old definition

Integrated marketing communication (IMC) has emerged as a new concept in marketing in the twenty-first century. IMC is mostly thought of, taught and written about as simply the integration of advertising and promotional activities. However, this paper proposes IMC as a broader concept. It is more than a process or activity within an organisation: it is a system of belief or engagement, embedded in an organisation's culture, underpinned by communication and driven by technology and senior management. We identify seven major tenets of the integrated view of marketing communication within the IMC literature, and argue that early marketing concepts of the twentieth century are no longer valid. IMC can be seen as a new paradigm in marketing, equipped with central concepts that apply to many business environments.     

Marketing and politics: Models, behavior, and policy implications

The American presidential election is one of the largest, most expensive, and most comprehensive marketing efforts. Despite this fact, marketing scholars have largely ignored this campaign, as well as thousands of others for congresspersons, senators, and governors. This article describes the growth of interest in research issues related to political marketing. This emerging research area lies at the crossroads of marketing and political science, but these fields have developed largely independent of one another with little cross-fertilization of ideas. We discuss recent theoretical, empirical, and behavioral work on political campaigns, integrating perspectives from marketing and political science. Our focus is on (1) the extent to which paradigms used in goods and services marketing carry over to the institutional setting of political campaigns, (2) what changes are necessary in models and methodology to understand issues in political marketing and voter behavior, and (3) how the special setting of politics may help us gain a better understanding of certain topics central to marketing such as advertising, branding, and social networks.     

IMC in an emerging economy: the Chinese perspective

Integrated marketing communications (IMC) planning and implementation vary greatly by market and country. This study, based on the survey data compiled from 135 Chinese marketing executives, focuses on IMC in China's emerging economy, with the goal of providing an outlook of IMC's current development in China while uncovering factors in the country's socioeconomic and business infrastructures that may cause IMC to deviate from the traditional Western model. The study also explores Chinese responses to the rising proliferation of digital media and its implications for IMC development.

The study concludes that despite uneven business development and a current lack of training in IMC-related skills, IMC appears to be the inevitable course or the future of Chinese marketing communications. Due to factors unique to the Chinese business landscape, such as government-owned business structures, political nuances in marketing channel relationships, and uneven development of consumer culture, IMC in China will likely evolve differently than in the US. Survey respondents reveal that IMC is progressing much faster in local, privately owned firms than in their state-owned counterparts. The rise of digital media will also disrupt traditional media outlets, providing challenges to the Chinese marketer.     

Theoretical Framework of Social Marketing Effectiveness: Drawing the Big Picture on its Functioning

Social marketing involves campaigns that aim to change individual behavior as well as prosocial behavior in diverse fields, such as health prevention and environment protection. Restricted public funds, debates about the social responsibilities of governments, nonprofit organizations and societies, as well as financial crises have increased interest in effective social marketing as a means of mitigating existing social problems. This article aims to draw the big picture on social marketing effectiveness by developing its theoretical framework. This framework brings together fragmented findings on social marketing effectiveness and incorporates a framework as a theoretically grounded process from relevant stimuli to intended responses. It provides a basis for further research. Recommendations for improved social marketing campaigns are derived. Managerial implications have great relevance for public and nonprofit management, as social marketing strongly influences the work and mission of public and nonprofit organizations.