An Empirical Investigation of the Pricing of Professional Services (As Applied to Public Accounting)

Recently there has been escalating interest and attention focused on services marketing in marketing literature. Professionals, in particular, face additional marketing challenges because they have both an increased need and an increased ability to market their services. Yet, the pricing of professional services as an area of investigation in marketing has not been adequately researched. This paper examines the pricing issue in the context of public accounting services. The empirical investigation utilizes a multivariate approach to describe and quantify the fee structure of public accounting services. Empirical findings and then managerial implications are discussed.     

A Pilot Study Testing Aspects of the Integrated Marketing Communications Concept

This article describes a pilot study testing some aspects of the integrated marketing communications concept. The study is timely and relevant to the field because it employs an empirical approach to addressing the heated controversy over the validity of the integrated marketing communications concept. This controversy is based upon doubt about the theoretical basis for integrated marketing communications and the lack of empirical research in the field identified in the integrated marketing communications literature. In an effort to address the conceptual validity controversy directly, the study adopted the first use of an experimental approach in the integrated marketing communications field. The results of the experiment suggest that messages employing some of the key aspects of an integrated marketing communications strategy (i.e. messages with a common theme that are executed across multiple media in a visually consistent manner) may prompt a stronger attitude towards the brand level than the same messages employing a more traditional strategy (executions with less visual consistency), although other dependent measures were not similarly impacted upon. The study is limited in its scope, but is intended to stimulate more empirical research in the integrated marketing communications field.     

Quo Vadis,marketing? Toward a relationship marketing paradigm

The marketing mix and its 4Ps have remained the marketing paradigm for decades. In the article it is argued that the foundation for this paradigm is weak and that it has had negative effects on marketing research and practice. Contemporary research into services marketing and industrial marketing demonstrates that a new approach to marketing is required. This new approach is based on building and management of relationships. A paradigm shift in marketing is under way. The thoughts and actions of marketing academics and practitioners should not be constrained by a paradigm from the 1950s and 1960s.     

Retail Store Loyalty Management via an Analysis of Heterogeneity of the Service Elements

This paper follows a line of research opened up by a series of authors who use a marketing approach for the study of retail service productivity. Without departing from the line of reasoning established by these authors, the main purpose of this paper is to detect possible differences in marketing productivity within and between different types of retailing services, using a research model that includes both the firm's effort and that of the customer. The two services selected for this purpose are grocery outlets and petrol stations.     

An Ethical Framework for the Marketing of Corporate Social Responsibility

Purpose The purpose of this paper is to develop an ethical framework for the marketing of corporate social responsibility. Methods The approach is a conceptual one based on virtue ethics and on the corporate identity literature. Furthermore, empirical research results are used to describe the opportunities and pitfalls of using marketing communication tools in the strategy of building a virtuous corporate brand. Results/conclusions An ethical framework that addresses the paradoxical relation between the consequentialist perspective many proponents of the marketing of CSR adopt, and ethical perspectives which criticize an exclusive profit-oriented approach to CSR. Furthermore, three CSR strategies in relation to the marketing of CSR are discussed. For each CSR strategy it is explored how a corporation could avoid falling into the promise/performance gap.     

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.     

Direct marketing in the financial services industry

This article presents empirical research findings on the use of direct marketing by a representative sample of UK financial services institutions. A number of similarities and differences between banks, building societies and insurance companies are identified in relation to direct marketing programmes and the use of particular direct marketing techniques. While acknowledging some exceptions the research concludes that there is scope for a greater appreciation of the strategic value and workings of direct marketing. Institutions could usefully focus attention on achieving fuller integration of direct marketing with other marketing and communication activities and securing improvements in testing, database quality and timing.     

“Relationship marketing” and the “markets‐as‐networks approach”—a comparative analysis of two evolving streams of research

Predating the increased attention by marketing academics on relationship marketing, European marketing scholars developed a network approach to the study of industrial markets that is also based on relationships between seller and buyer as a fundamental concept. This article aims to analyse the similarities and the differences between relationship marketing studies and network studies. After comparative analyses of definitions, empirical and research foundations, attributes related to governance structures and to the marketing mix approach and of major issues addressed in the research agendas, the conclusion is: relationship marketing in its limited interpretation is just a development within the marketing mix approach. Relationship marketing in its extended interpretation is, or rather could become, close to the markets‐as‐networks approach. However the basic attribute in network studies of “embeddedness” is largely missing in relationship marketing. To develop relationship marketing as a generic concept, researchers need to address also the issue of the generic nature of the market. Because when relationships are regarded as the generic governance form for transactions, then the market itself becomes network‐like!     

Impact of directed‐to‐consumers marketing strategies on firm market value

The objective of this paper is to analyse the impact of different directed‐to‐consumers marketing strategies on firm market value. To that end, we follow a microeconometric approach that consists of formulating a model whose dependent variable is an indicator of market value, that is to say, Tobin's Q, whilst the independent variables take the form of a number of different marketing strategies. This model is estimated by using an unbiased survey carried out in the year 2000 to executives working in 405 North‐American firms. The empirical results indicate that the most effective marketing strategies are, in this order, the ability to rapidly develop new products and services, the importance of both providing customized products and goods of high quality and finally, customer loyalty.     

Agent-based modeling in marketing: Guidelines for rigor

Agent-based modeling can illuminate how complex marketing phenomena emerge from simple decision rules. Marketing phenomena that are too complex for conventional analytical or empirical approaches can often be modeled using this approach. Agent-based modeling investigates aggregate phenomena by simulating the behavior of individual “agents,” such as consumers or organizations. Some useful examples of agent-based modeling have been published in marketing journals, but widespread acceptance of the agent-based modeling method and publication of this method in the highest-level marketing journals have been slowed by the lack of widely accepted standards of how to do agent-based modeling rigorously. We address this need by proposing guidelines for rigorous agent-based modeling. We demonstrate these guidelines, and the value of agent-based modeling for marketing research, through the use of an example. We use an agent-based modeling approach to replicate the Bass model of the diffusion of innovations, illustrating the use of the proposed guidelines to ensure the rigor of the analysis. We also show how extensions of the Bass model that would be difficult to carry out using traditional marketing research techniques are possible to implement using a rigorous agent-based approach.     

A supply chain management framework for services

While services represent the largest sector of the global economy, 86.8% in the United States, most supply chain management (SCM) research is focused on product flows. Executives in manufacturing firms have benefited from frameworks created to implement SCM processes, but this is not the case for their counterparts in service companies. The two most cited SCM frameworks for services have methodological and conceptual deficiencies. Drawing upon the service-dominant logic of marketing and using an empirical research approach, we developed supply chain structure maps for nine service firms. Our findings indicate that the supply chain structure maps of service companies are comparable to those in the product-based literature, which supports the service-dominant logic. Then, we identified the six key processes that constitute a framework to manage service supply chains. The customer relationship management and the supplier relationship management processes form the critical links in the supply chain, and the other four processes are coordinated through this linkage. The SCM framework for services provides direction for executives in service firms who need to increase cross-functional integration within their firms and with other members of the supply chain. For academics, 12 avenues for future research are identified.     

Cross-border marketing ecosystem orchestration: A conceptualization of its determinants and boundary conditions

The authors propose that the current trends and developments in the international marketplace call for a new theoretical concept-based approach to inform and guide cross-border marketing strategy. Specifically, the authors label this approach marketing ecosystem orchestration (MEO). The marketing ecosystem is defined as connected, interdependent, and co-evolving sets of actors, activities, and institutions enabling the marketing of an offering that has value for customers, clients, partners, and society at large. MEO is a new strategic approach for an internationalizing firm to achieve sustained value creation, value appropriation, and growth in a host market. Orchestration involves developing and/or coordinating the ecosystem’s interdependent – but independent actors, resources, information, processes, and services to create, co-create, and appropriate value from firms’ market-based assets. The authors theorize three components of MEO – the orchestration of supply chains and fulfillment networks, marketing communications, and transactions and payments sub-ecosystems – and develop a conceptual framework and propositions influencing the determinants of MEO adoption by the focal firm. This paper concludes with managerial implications and offers several new directions for international marketing research.     

Fashion and the metaverse: Clarifying the domain and establishing a research agenda

In recent years, the metaverse has garnered significant attention as a term referring to a network of 3D virtual worlds that integrate elements of both physical and digital worlds. Fashion brands have begun exploring the metaverse as a new marketing platform, which is expected to bring about substantial changes in the fashion and retail industry. However, a lack of consensus on the nature of the metaverse and its impact on the fashion industry currently exists, and limited academic research is available on the metaverse's influence on fashion brands' marketing strategies and brand experiences. To address this gap, this study employs a thematic analysis approach on trade journals and industry articles that cover fashion brands' metaverse strategies. Through this analysis, the study provides a typology of current marketing strategies of fashion brands in the metaverse. Based on these empirical findings, this research proposes a theoretical framework that explains how different metaverse strategies affect different dimensions of brand equity. Finally, this study offers research directions for fashion brands' metaverse strategies by presenting an integrated framework that synthesizes the key insights from our research findings.     

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.     

Marketing communication and corporate identity: are they integrated?

Although corporate identity was originally defined in terms of the visual representation of a company, later writers employed broader definitions, which have highlighted the importance of the various forms of communication in corporate identity management. Recent models of the corporate identity management process have reflected the importance of communication in the management of corporate identity. Corporate communication has been regarded as being composed of three forms: management, marketing and organizational communication. Most organizations are structured such that management and organizational communication are closely aligned with the corporate identity of an organization. However, the conjunction between corporate identity and marketing communication is less discernible. It has been noted that the interaction between corporate and marketing communication is 'tentative and embryonic in nature'. The authors conducted empirical research, which explored the extent to which corporate identity was integrated into the marketing communication campaigns of these practitioners. The conclusions from this exploratory research suggest that there are substantial barriers to the successful integration of corporate identity with marketing communications. Barriers such as the importance of integration not being accepted by clients, the focus of marketing managers on short-term goals, too many people involved with managing the core message of corporate identity and an ad hoc approach towards marketing communication were important. Further research into structural and behavioural ways of overcoming these barriers could prove to be extremely valuable.     

Search Engine Optimization and Pay-per-Click Marketing Strategies

Any e-commerce venture using a website as the main shop front should invest in marketing its website. In this study, the relationship between website owners having invested in search engine optimization (SEO) and pay-per-click (PPC), respectively, is investigated. The design used in this research involves an empirical field experimental approach in which implementation of both SEO and PPC are considered, with subsequent comparison of results. Data were gathered from Google search results after performing both Fat Head and Long Tail key-phrase searches based in various categories. Websites that were listed among the top 10 in the sponsored section of search results were recorded. These websites were then checked to see if they also had an SEO ranking within the top 100 for both the Fat Head and Long Tail key-phrases. It is found that website owners seldom invest in SEO as part of a search engine marketing (SEM) campaign. This seems to confirm some of the findings by other authors. This research has important implications for SEO and PPC practitioners, and for website owners. It should influence the way budgets on search engine marketing are applied. Finally, it could be used by marketing managers in better utilizing their limited SEM dollars. No evidence could be found that this kind of empirical research has been done, hence the results are considered to be unique.     

Assessing cross-cultural marketing theory and research: Reply to Craig and Douglas' commentary

This article responds to the major concerns Craig and Douglas (2011) raise in their commentary essay on the content analysis of cross-cultural marketing research from Engelen and Brettel (2011). Based upon theoretical arguments and empirical findings in the extant literature, this reply argues that national borders are an appropriate major level at which to study the culture construct. This reply also shows that empirical research on consumer acculturation supports the idea that “whiteness” is present in cross-cultural marketing research.     

The Dimensions of Service Quality: The Original European Perspective Revisited

The early pioneers of services marketing in Europe, especially the Nordic School, argued that service quality consists of two or three underlying dimensions. Lehtinen and Lehtinen [1985] referred to physical and interactive quality while Christian Grönroos [1984] identified a technical dimension, a functional dimension and the firm's image as a third dimension. In later years, Parasuraman, Zeithaml and Berry [1988] published empirical evidence from five service industries which suggested that five dimensions more appropriately capture the perceived service quality construct. This study uses an exploratory factor analysis approach to investigate the empirical factor structure of the SERVQUAL instrument developed by Parasuraman et al. [1988] to measure perceived service quality. Based on the results of five exploratory analyses performed on five SERVQUAL data sets, a model for SERVQUAL is proposed. It suggests that the SERVQUAL difference scores are measures of two factors termed ‘intrinsic’ and ‘extrinsic’ service quality. The model is then fitted to the SERVQUAL data obtained from five samples of clients who evaluated the services of five service industries or companies by means of confirmatory factor analysis. The results of this study provide empirical support for the European authors who, in the early 1980s, argued that service quality perceptions are largely determined by two (rather than five) dimensions.     

An Entrepreneurial Perspective on the Marketing of Charities

ABSTRACT

This paper discusses marketing activities within charities, with specific reference to the applicability of an entrepreneurial approach, and cause marketing. The efforts of these institutions in recent years to apply the tools of conventional marketing to the services they provide in the markets which they serve is laudable. However, it is argued that in times of environmental turbulence, this is necessary but not sufficient, and that an entrepreneurial perspective on marketing needs to be adopted particularly in relation to cause marketing efforts. Here are elements of risk-taking, proactiveness and innovativeness, and a more recent notion of “network-spotting” or object-orientation. The concept of entrepreneurial intensity in this regard is introduced, as well as a process which can be applied to entrepreneurial marketing in charities. Finally, the obstacles to entrepreneurial marketing by charities are identified.     

A Comparison of Buyers and Nonbuyers of Extended Service Contracts

ABSTRACT

Only a few empirical research studies about extended service contracts have appeared in the services marketing literature. This study used Chi Square analysis as a methodology to distinguish between buyers and non-buyers of extended service contracts. The findings suggest that while buyers and non-buyers were very similar demographically and psychographically, there were considerable differences in motivation for purchasing or not buying. Of the ten motivation variables, eight were significant at or beyond p < 0.05. Moreover, some ethical implications for professional salespeople marketing these service contracts were discussed.