Partner Selection,Interorganizational Coordination,and New Service Development Success in the Financial Service Industry

This study aims to investigate the relationship between partner selection and new service development (NSD) success. We identified three partner selection factors based on partner selection theory: partner reliability, partner expertise, and partner compatibility, and suggested product‐market experience and technological experience as moderators. We developed a questionnaire and distributed it to 446 financial service companies in Taiwan. Overall, we received 122 usable pairs of responses from each firm's sales manager and marketing manager. The results indicate that interorganizational coordination contributes to NSD success. Among the three partner selection factors, partner reliability and partner compatibility were found to positively affect interorganizational coordination. In addition, product‐market experience enhances the positive effect of interorganizational coordination on NSD success. Copyright © 2018 ASAC. Published by John Wiley & Sons, Ltd.     

New perspectives on marketing mix programme standardisation

The marketing mix programme standardisation/localisation policies of 63 UK multinationals operating in a developing market (the six Gulf States) are examined, using a three-factor, 53-variable model of country, firm and marketing mix programme factors. The research framework is unusually broad compared with other standardisation studies, which have also tended to concentrate more on the developed than the developing economies. Three firm variables and three country variables correlate closely with differing degrees of marketing mix programme standardisation. Product strategies are much more standardised and promotion, distribution and price more localised. Unexpectedly, industrial product firms appear to be no more standardised in marketing mix programmes than consumer goods firms in the Gulf. British Multinationals tend to treat the six Gulf states as a single market cluster with only minor variations between each state.     

The anatomy of a corporate venturing program: Factors influencing success

The author proposes a classification framework for factors that affect corporate venture success. Then, a database of 37 new venture investments by Exxon, including 18 venture capital investments, is analyzed for insight into the relative affect of these factors on venture technical and financial success. This article presents a statistical analysis of those factors which were quantified.As a group the venture capital investments were financially far more successful for Exxon than the internally initiated ventures. This striking difference stimulated the retrospective analysis reported here. The author was in a position to observe the program over its entire life span and had first-hand knowledge of each venture's technology, markets, and personnel. Because of the mix of venture capital and internal investments, the author was also in a position to compare the two modes of investment.Factors affecting venture success are broadly classified as extrinsic and intrinsic. Extrinsic or environmental factors are those determined by the form of investment sponsorship (e.g., corporate or venture capital) and the characteristics of the investment sponsor. Extrinsic factors are segregated into two categories: structural and procedural. These factors are defined as the degree of difference between the corporate and venture environment in each category.The four structural factors (technology, market, organization, and people) are summed up as the overall degree of structural congruence. The author postulates that the degree of congruence is directly related to venture success within the corporation. To take the corporation into new markets some incongruence is required. Too much incongruence probably pushes the risk of failure too high. The corporation's procedures for management of this incongruence will determine the degree to which it can successfully diversify its business.The four procedural factors (control, selection of venture managers, incentive compensation, and financing) are dealt with as differences between the corporate environment and an independent venture environment. Major differences in procedural factors usually exist between corporate and venture capital sponsored ventures. They probably explain to some extent the relative greater financial success of the Exxon venture capital investments as a group. However, the statistical analysis results indicate that the identified intrinsic factors are more important in explaining relative venture success.Intrinsic factors are those inherent to the venture itself, and are subdivided into two categories: product related (market and technical risk levels) and managerial (relative experience levels). Each of the 37 Exxon ventures was rated for success and for the intrinsic factors using a simple ordinal range of 3 to 6 values. The product related risk factors showed a significant inverse correlation with financial success. The level of venture managers' prior experience in the venture's target market area and their level of prior general managerial experience showed an even greater correlation with financial success. The sample correlation coefficient between the financial success rating SF and the sum of the ratings for prior marketing and managerial experience (XS + XM) was 0.809 with a standard error of only 0.105.Selection of the influential extrinsic and intrinsic factors is largely within the control of corporate management. An approach to selection of these factors similar to that used by private venture capital fund managers should greatly improve the overall success of internal corporate ventures.     

Adaptation of Marketing Mix Elements in International Markets

ABSTRACT

This research identifies the extent to which individual marketing mix elements are adapted for international markets and how company, industry, and market factors influence the level of adaptation. The study is based on a survey of executive-level managers in U.S.-based companies that market products internationally. The survey obtained information on the extent of adaptation across the marketing mix elements and on company, industry, and market factors that influence this process. The results indicate that adaptation is greatest for distribution, followed by price, promotion, and product. Product adaptation is influenced by market factors, price adaptation is influenced by market and industry factors, promotion adaptation is influenced by market factors, and distribution adaptation is influenced by company factors. The results of the research can be used to both understand and manage the extent of adaptation necessary for products in international markets.     

The Impact of the New Product Development Project on the Success of Financial Services

This article explores the impact of a number of aspects of the new product development project on the success of new financial services in the United Kingdom. It is found that synergy between the new product and the organisation, and the quality of internal marketing are particularly associated with eventual success for the new product. Technological advantage, market research and responsiveness (i.e. speed of development) are also associated with success. Banks seem to be particularly effective in their use of market research, whereas Building Societies are good at in ternal marketing and synergy. New interest accounts have been particularly successful due to the use of market research and the speed of their development.     

Determinants of Prices for the Performing Arts

The performing arts constitute a significant share of demand in the public's arts consumption spending. Despite the growing volume of research in the marketing of the arts, research specifically focusing on the promotion and pricing of the performing arts is still in the development phase. In this study, we examine the impact of locational variables related to live music performances on ticket prices. Specifically, this research focuses on the relationships between ticket prices for classical concert seats and locational variables such as the distance of the seat from the front of the stage, its angle with respect to the center-line of the performance hall and the size of the town population where the concert is hosted are examined. Utilizing data from a leading intermediary of performing arts tickets the above relationships are empirically examined. The paper concludes with a discussion of pricing implications for promoters of the performing arts.     

The Role of Social Mechanisms in Promoting Supplier Flexibility

Purpose: This study explores a conceptual framework for social mechanisms (trust and shared vision) to induce supplier flexibility (i.e., volume, mix, new product, and delivery flexibility).

Design/methodology/approach: The current study is based on marketing research reviews of social mechanisms and supply chain flexibility literature. To explore these issues, the authors developed and tested hypotheses with data from 162 members of the SMIT (Supply Management Institute, Taiwan).

Findings: The results show that trust has a direct impact on supplier's volume flexibility and delivery flexibility. Furthermore, the findings indicate that a shared vision has direct impact on supplier's mix, new product, and delivery flexibility. Finally, shared vision plays a mediating role among trust and mix, new product, and delivery flexibility.

Research limitations/implications: This research considers buyer's perspective in examining social mechanisms that enhance supplier flexibility. A clear understanding of social mechanisms effects could evaluate competence trust and risk of respective flexibility that may affect social mechanism effectiveness.

Practical implications: This article contributes to management guidelines on how to align suppliers to respond quickly to customer demands.

Originality/value: The study provides novel insights into social mechanism impact on suppliers' respective flexibility.     

The Marketing of Tourism

The objectives of this article are to present the applications of marketing management in the tourism industry. The article discusses the various factors affecting the tourism market and its major sectors: (i) travel agencies and tour operators; (ii) hotel and catering; and (iii) transport. Any meaningful analysis of tourism marketing, should be based on: (a) market segmentation; (b) tourism marketing mix; and (c) marketing strategies. As the market for tourism services and products is dynamic and accompanied by rapid changes in the environment due to increased competition, technological changes and inflation, increased attention should be giver7 to the ernployme17t of appropriate marketing management methods as this industry, as indicated in the present article.     

The rebuilt marketing machine

Since its conception, the marketing mix has been the marketer's tool kit for success. A firm's marketing plan is basically comprised of the 4 Ps of the marketing mix tool kit, with practitioners and academicians segregating a marketer's tasks into product, place, price, and promotion. A decade of company-based research suggests, however, that it is time to rebuild the marketing machine by focusing upon the key strategic issues that companies, and marketers, face in today's rapidly evolving, digitized marketplace. If marketing is to become a way of doing business rather than merely one of several organizational functions, marketers must recognize that the marketing mix tool kit is truly an implement for success, just as an engine and wheels are necessary for successful navigation of an automobile. Only after we, as marketers, recognize and conceptualize marketing as a bigger machine than just the 4 Ps will we be able to bring a market orientation to the forefront of strategic thought.     

Effect of community relationship management,relationship marketing orientation,customer engagement,and brand trust on brand loyalty: The case of a commercial bank in Thailand

Business uncertainty due to the COVID-19 pandemic has brought financial and banking industries under stress. This study examines brand loyalty (BL) in the Thai banking industry by integrating community relationship management (CoRM) (4Cs model), relationship marketing orientation (RMO), customer engagement (CE), and brand trust (BT). It analyzes how a Thai commercial bank used four success factors to create new client acquisition, business efficiency, long-term relationships, and BL. We use quantitative data and structural equation modeling (SEM) to identify variables influencing the BL of 1650 customers of a Thai commercial bank. We found CoRM and RMO's key success factors indirectly affected BL by mediating CE and BT. These results may improve sustained performance effectiveness in the banking industry now and in the future.     

Aggressive and Prudential Marketing Strategy for Financial Services

In the light of poor performance, there is debate about the benefits marketing has brought to the UK financial services industry. This argument is assessed in the light of marketing concepts and the findings of a study investigation the focus of marketing strategy in successful financial service companies. Based on qualitative data from rigorously identified companies, the article finds that the balancing of aggression and prudence in strategy, which is emphasised in marketing theory, is one of the factors which sets apart successful financial service companies. The findings suggest that the successful companies are those focusing on strategies embracing the key marketing concepts of selectivity and profit orientation.     

Choosing and upgrading financial services dealers in the US and UK

This paper addresses a gap in the international literature aimed at understanding the impact of the marketing mix on choosing and upgrading business-to-business financial services dealers. This study involves two important financial services markets (foreign exchange and bonds) in two leading countries in financial services (the United States and the United Kingdom). It provides a comparative analysis of the effectiveness of marketing mix variables (“price”, “product”, and “promotion” in this case) in determining (a) choice of dealers and (b) how a utilized dealer may achieve the sought-after status of being among the top three dealers of a customer. The impact of the marketing mix variables on the choice of dealer is significantly greater in the US relative to the UK. However, a two-stage analysis shows no significant country differences in the impact of the marketing mix on how a dealer is upgraded to a top three status with a customer. Further, the effects of the individual marketing mix variables are more nearly equal in the determination of whether a utilized dealer is among the top three dealers relative to the choice stage. Finally, consistent with our hypothesis, the bond market is more price sensitive relative to foreign exchange and the foreign exchange market is more product sensitive than the bond market.     

An Empirical Test for Mediation Effect of Educational Institute's Image on Relationship between Marketing Elements and Parents' Loyalty: Evidence from India

The article presents the results of a study that assesses effects of selected marketing tactics on parents' loyalty towards the educational institutions. The results of Multiple Regression Analysis show that the price mix was the most significant factor having impact on parents' loyalty followed by people mix, place mix, product mix, and promotion mix. Furthermore, educational institution image mediates completely (full mediation) the relationship between selected marketing tactics (product mix, people mix, place mix, promotion mix) and parents' loyalty. Whereas, educational institution image mediates partially (partial mediation) the relationship between price mix and parents' loyalty. The sample comprised 687 respondents.     

Cause-Related Marketing: Keys to Successful Relationships with Corporate Sponsors and Their Customers

SUMMARY

An increasingly popular method for nonprofits to raise awareness, educate the public, and receive financial support from corporations is through cause-related marketing. The distinctive feature of cause-related marketing is the corporate sponsor's contribution to a designated cause being tied to customers' participating in revenue-producing transactions with the sponsor. The sponsor benefits from favorable publicity and increased sales. This article discusses factors contributing to the potential success of a cause-related marketing campaign: the sponsor's product quality, fair pricing, and customer traits; the nonprofit's and the sponsor's reputation, shared values, good communication, and commitment; a well-planned and executed campaign, and specific terms that protect both party's assets and clearly outline each party's responsibilities.     

The strategic decisions and success factors of the global integration-local responsiveness of Japanese MNCs in China

This article applies Foreign Direct Investment (FDI) theories to the strategic management analysis of the global integration-local responsiveness of multinational corporations (MNCs) in China, from the perspective of company characteristics (ownership advantages and internalization advantages) and environmental dynamics (locational factors) in order to analyze the success factors influencing the sales activities of Japanese MNCs in China. Based on the analysis of a survey conducted on 230 Japanese parent companies with investments in China, the empirical research findings include: Japanese MNCs in China favor global integration strategies; the more significant the ownership advantages and internalization advantages are, the greater the global integration is; the success factors of their operations in China due to global integration are present in manufacturing know-how, procurement of parts and supplies, financial power, previous investment experience in China as well as sales networks and technologies; locational advantages mainly lie in labor cost among other things; internalization factors do not have any significant correlation with the success and performance of the subsidiary company. Translated from Zhongguo Ruankexue 中国软科学 (China Soft Science), 2005, (3): 89–98     

基于消费者理性化与主权化的营销思维重组

本文认为,随着金融危机的爆发,中国消费者的心理及行为特征已经呈现理性化与主权化交织的状态,既关注产品和服务的性价比,同时坚持原有的品牌偏好,注重商品的符号价值,通过消费来进行自我建构和社区联系,追求真实与短暂的愉悦和刺激,注重参与和体验.部分营销技术也因此失去其效用.这就要求我们站在一个新位置进行营销思维重组:营销的聚焦可由具体性的营销组合操作转变到注重对消费者的了解和营销生态的把握,在保证产品质量和安全等基础营销责任的同时消解营销霸权而贴近消费者,让渡市场权力,让消费者通过体验和参与来进行自我价值的创造.     

我国保险业资本运营战略定位与基本路径选择

面对国际保险业金融化趋势和混业经营时代的到来,我国保险业要想在竞争激烈的市场环境中提升自己的核心竞争力,做到快速成长与发展,就必须紧紧依托资本市场,通过收购兼并、保险资金投资、保险证券化、保险产品与服务开发和资本市场工具对接,以及海内外上市等基本手段,向银行、证券、信托、基金等非保险金融领域渗透,培育多元化保险(金融)集团,尽快实现保险业混业经营。     

哈大齐工业走廊建设中金融支持问题与对策

哈大齐工业走廊是东北振兴规划中重要组成部分,其长期战略发展规划需要强大的金融支持。以金融支持对于工业走廊发展的作用机制为理论前提,准确分析哈大齐工业走廊内企业金融支持中存在的若干问题,强调指出要充分利用资本市场直接融资,创新金融机构的金融产品组合,同时,加大引入国外金融机构的力度。     

Branch plant location and the product cycle in computer manufacturing

This paper examines the implications of changes in product and process technology in the computer industry for the regional location pattern of production facilities. Emphasis is placed on the different locational needs of research and development activities as opposed to volume production of components. Using establishment data, the existing pattern of location is analyzed. A location model for branch plants is estimated across SMSAs; the results show that SMSA size and wage rates are repelling forces for branches. Agglomeration factors, educational level, and the supply of engineers, as well as the distance to headquarters, are positive influences on location.Manufacturing employment in the United States has grown faster outside than inside the traditional manufacturing belt for decades (Carlino 1984); this trend has accelerated in recent years. Causes of this redistribution may include surplus farm labor in the South (Cogan 1982), an attractive climate in the West, and unionization and high taxes in the North. Changes in product and process technology have also affected the location of some industries. This paper attempts to show how technology and the product life cycle influence the location of computer manufacturing.