Creating market anticipation: An exploratory examination of the effect of preannouncement behavior on a new product’s launch

Preannouncements are strategic marketing communications directed at market participants including investors, suppliers, distributors, and buyers. Most empirical literature focuses on antecedents influencing a firm’s preannouncement behavior and on outcomes related to deleterious responses by competitors. This study differs and follows the large body of extant research that examines preannouncing behavior as a deliberate marketing communication process aimed at influencing market participants in the firm’s favor. The authors develop and test a model of preannouncement behavior that affects the success of a new product launch through market anticipation, competitive equity, and new product development resources. The findings indicate that preannouncement behavior engenders new product success through its positive effect on market anticipation—a favorable industry-wide bias in advance of new product introduction—and emphasizes the use of preannouncements as business-to-business marketing communications aimed at influencing current and prospective supply chain partners in the firm’s favor. Kim Schatzel (schatzel@umd.umich.edu) (PhD, Michigan State University) is an assistant professor of marketing at the University of Michigan, Dearborn. Her business experience includes more than 20 years of corporate and new venture work including tenure as the founder and CEO of a multinational $250 million automotive components firm and three start-up technology-based companies. She is interested in the study of new product development, business-to-business marketing communications, and firm reputation issues. She has published articles in theJournal of Marketing, theJournal of Business Research, and theJournal of Product Innovation Management. She is also highly committed to teaching excellence and has won several awards for undergraduate, graduate, and executive teaching. Roger Calantone (rogercal@msu.edu) holds the Eli Broad University Chair in Business at Michigan State University and is also the director of the Broad Information Technology Management Program (ITMP). He is interested in the study of new product innovation and technology decisions in industrial firms. Currently, his research is focused on new product decisions, industrial market segmentation, global logistics, and the use of neural network and autonomous learning models to valuate product components. He is the author of more than 200 refereed academic articles and proceedings and is coauthor of several books. His publications have appeared in journals such as theJournal of Marketing, the Journal of Marketing Research, Marketing Science, Management Science, Decision Sciences, and theStrategic Management Journal.     

Exploring the brand value-shareholder value nexus for consumer goods companies

It is generally claimed that brand names are a corporate asset with an economic value that creates wealth for a firm’s shareholders. However, the scholarly literature has neither provided a comprehensive theoretical basis for this claim nor documented an empirical relationship between brand value and shareholder value. This exploratory study describes a rationale for, and documents, the statistical strength and functional form of a brand value-shareholder value relationship for publicly held consumer goods companies in the United States. A theoretical argument supportive of a positive relationship between a firm’s accumulated brand value and market-to-book (M/B) ratio was empirically validated. However, even though firms with higher accumulated brand values have higher M/B ratios, the functional form of the relationship was found to be concave with decreasing returns to scale. Theoretical and managerial implications of these findings are outlined, as well as study limitations and directions for future research. Roger A. Kerin (Ph.D., University of Minnesota) is the Harold C. Simmons distinguished professor of marketing at the Edwin L. Cox School of Business, Southern Methodist University. His research focuses on marketing strategy and product management issues. He has published more than 50 articles appearing in such journals as theJournal of Marketing, theJournal of Marketing Research, Strategic Management Journal, andManagement Science, in addition to authoring four books. He presently serves on numerous editorial review boards and is a former editor of theJournal of Marketing. Raj Sethuraman obtained his Ph.D. from Northwestern University and is an assistant professor at the Edwin L. Cox School of Business, Southern Methodist University. His research focuses on competitive marketing strategies, especially price and advertising strategies. He has published in several journals including theJournal of Marketing Research, Management Science, Marketing Letters, theJournal of Business Research, and theJournal of Consumer Psychology.     

Satisfaction with international marketing channels

This article examines factors leading to a firm’s satisfaction with its marketing channels. The authors build on existing studies of consumer satisfaction and the channels literature. They add a transaction cost factor and use the discrepancy model to examine the determinants of satisfaction. Findings from a survey of Canadian exporters show that a firm’s domestic performance, its previous experience, the uncertainty it faces, and its ability to change channels and monitor channel operations all provide significant explanations for management satisfaction. He received his Ph.D. degree from the University of Toronto. His research interests are in the areas of international marketing, channels of distribution, and marketing strategy. Professor Klein has published articles in theJournal of the Academy of Marketing Science, andJournal of Marketing Research, andInternational Marketing Review. He received his Ph.d. degree from the University of Toronto. His research interests are in the areas of new product development, satisfaction research, and retailing. Professor Roth has published articles in theJournal of Marketing Research, theServices Industry Journal, andInternational Marketing Review.     

National culture and industrial buyer-seller relationships in the United States and Latin America

This study examined whether national culture directly moderates the link between buyer-seller relationship strength and repurchase intentions in industrial markets, as well as indirectly moderates the same link through its influence on corporate culture. Hypotheses were tested using a mail survey among industrial buyers in the United States and Latin America. Results based on 126 responses from Latin American firms and 81 responses from U.S. firms showed that national culture and corporate culture moderate the relationship-repurchase link and that national culture is associated with corporate culture. Using national culture index scores computed from administering Hofstede’s Value Survey Module 94, the authors further show that uncertainty avoidance is the primary driver of national culture’s influence on this link and that power distance is most directly associated with corporate culture. Kelly Hewett (kelly_hewett@moore.sc.edu) is in the Department of Marketing at the Moore School of Business, University of South Carolina. Her research focuses on the management of relationships between buyers and sellers, as well as between headquarters and foreign subsidiaries in managing the marketing function globally. Her research has been published in theJournal of Marketing, theJournal of the Academy of Marketing Science, and theJournal of International Business Studies, among others. R. Bruce Money (moneyb@byu.edu) is the Donald Staheli Fellow and an associate professor of marketing and international business in the Marriott School of Management, Brigham Young University. His articles have been published in journals such as theJournal of Marketing, theJournal of the Academy of Marketing Science, theJournal of International Business Studies, andSloan Management Review. His research interests include the international aspects of national culture’s measurement and effects, business-to-business marketing, word-of-mouth promo-tion, services marketing, and negotiation. Subhash Sharma (sharma@moore.sc.edu) is the James F. Kane Professor of Business in the Moore School of Business, University of South Carolina. Professor Sharma’s research interests include marketing strategy, structural equation modeling, data mining, customer relationship management, e-commerce, the marketing-operations interface, and global marketing strategies. He has published numerous articles in these areas in leading academic journals such as theJournal of Marketing Research, theJournal of Marketing, Marketing Science, theJournal of Retailing, theJournal of Operations Management, theInternational Journal of Research in Marketing, and Management Science. Professor Sharma has also authored two textbooks:Applied Multivariate Techniques (John Wiley, 1996) andScaling Procedures: Issues and Applications (with Richard G. Netemeyer and William O. Bearden, Sage, 2003). Professor Sharma was a member of the editorial boards of theJournal of Marketing Research and theJournal of Marketing and currently serves on the editorial review board of theJournal of Retailing.     

Interactions between marketing and quality at the SBU level: Influences and outcomes

The management of quality and development of effective cross-functional cooperation have assumed a new strategic importance over the past decade. However, many companies have reported that quality strategies have failed to deliver anticipated performance benefits and that ineffective interfunctional relationships may be to blame. This study explores marketing-quality interfunctional relationships as a potential source of quality strategy implementation failure at the strategic business unit (SBU) level. This study focuses on interdepartmental connectedness, communication and conflict between marketing and quality, and the antecedents and consequences of these dimensions of interfunctional interaction. Using data from a pooled response mail survey, the results suggest that marketing-quality interactions are associated with senior management quality leadership, strategic quality planning process, and control system characteristics. Interfunctional interactions between marketing and quality are found to be only weakly related to relative quality, market performance, and financial performance outcomes. Neil A. Morgan is a university lecturer in marketing and strategy at the Judge Institute of Management Studies, University of Cambridge, England. His research interests focus on strategic issues concerning marketing strategy formulation, marketing implementation processes, and business performance. His work has appeared in theJournal of Business Research, Industrial Marketing Management, British Journal of Management, and other journals. Nigel F. Piercy is Sir Julian Hodge professor of marketing and strategy and chair of Marketing and Strategy at the Cardiff Business School, Cardiff University, United Kingdom. His research interests focus on the organizational context of marketing management, market-led strategic change, and the role of process in marketing strategy implementation. His work has appeared in theJournal of Marketing, theJournal of the Academy of Marketing Science, theJournal of Advertising, and other journals.     

The perceived importance of ethics and social responsibility on organizational effectiveness: A survey of marketers

A necessary but insufficient condition for marketers to act ethically and be socially responsible is that they must perceive ethics and social responsibility to be important. However, little is known about marketers’ perceptions regarding the importance of ethics and social responsibility components of business decisions. The objectives of this study are (1)to assess the marketing practitioners’ perceptions regarding the importance of ethics and social responsibility in achieving organizational effectiveness, and (2) to analyze the relative influences of selected personal characteristics and organizational factors underlying a marketer’s perceived importance of ethics and social responsibility. The results from a mail survey of American Marketing Association members indicate that the marketers generally believe that ethics and social responsibility are important components of organizational effectiveness. The results partly indicate that there is a positive relationship between a marketer’s corporate ethical values and his or her perceptions regarding the importance of ethics and social responsibility. The results also indicate that the marketers’ perceptions regarding ethics and social responsibility can be explained by idealism and relativism. He has also served on the marketing faculty at Thammasat University, Thailand. He received his Ph.D. from the University of Mississippi. His research focusing on marketing ethics and social responsibility has been published inJournal of the Academy of Marketing Science, Journal of Business Ethics, Journal of Macromarketing, Journal of Personal Selling & Sales Management, Journal of Public Policy & Marketing, and elsewhere. He received his D.B.A. in management from the University of Maryland. His work on business ethics, organizational design, and strategic planning has been published inAcademy of Management Review, American Business Review, andJournal of Business Ethics. His current research interest centers on the measurement of moral intensity. He received his Ph.D. from Texas Tech University. His work has appeared inJournal of the Academy of Marketing Science, Journal of Business Ethics, Journal of Business Research, Journal of Macromarketing, Journal of Personal Selling & Sales Management, Research in Marketing, and elsewhere. He received his Ph.D. in marketing from the University of Mississippi. His research has been published inJournal of the Academy of Marketing Science, Journal of Business Ethics, Journal of Pharmaceutical Marketing and Management, Journal of Social and Administrative Pharmacy, and elsewhere. His research interests include marketing ethics, health care marketing, international marketing, and direct marketing.     

Reducing marketing’s conflict with other functions: The differential effects of integrating mechanisms

To operate effectively, marketing must work in harmony with other functional departments in a firm. This study focuses on marketing’s interactions with three functions that play a key role in the achievement of marketing goals—finance, manufacturing, and R&D. The authors combine insights from previous studies and interviews with practicing managers to identify six integrating mechanisms proposed to mitigate manifest interfunctional conflict (behavior that frustrates marketing initiatives). In addition, they investigate the role of internal volatility (turbulence within an organization) in shaping manifest conflict. Based on a large-scale, multi-informant empirical study, the authors identify the more effective of these six integrating mechanisms. Furthermore, they argue and demonstrate these mechanisms are differentially effective across the marketing-finance, marketing-manufacturing, and marketing-R&D interfaces. Implications for theory and practice are discussed. Elliot Maltz received his MBA from the University of California at Davis and his Ph.D in marketing from the University of Texas at Austin. Prior to coming to the Atkinson School, he taught at the Marshall School of Business at the University of Southern California. Dr. Maltz’s research focuses on how market information can be effectively transmitted from marketing to other functions within a firm (e.g., R&D, manufacturing) or across firms (e.g., in distribution channels, strategic alliances) to facilitate new product development or marketing initiatives designed to respond to changes in market conditions. His research has been published in theJournal of Marketing, theJournal of Marketing Research, theJournal of Business Research, and theJournal of Product Innovation Management and Long Range Planning Ajay K. Kohli is the Isaac Stiles Hopkins Professor of Marketing at the Goizueta Business School at Emory University. His undergraduate degree is in electrical engineering, and his master’s and Ph.D. degrees are in business administration. He has also taught at the Harvard Business School, the University of Texas at Austin, Koblenz School of Corporate Management in Germany, and at the Norwegian School of Management, Norway. His published work focuses on market orientation, sales management, and B2B Marketing. He has received several research and teaching awards including the Jagdish N. Sheth Award for the best article published in theJournal of the Academy of Marketing Science in 1997, the Alpha Kappa Psi award for best practice-oriented article published in theJournal of Marketing (1990), and the Jack Taylor award for excellence in teaching at the University of Texas at Austin.     

Does success diminish competitive responsiveness? Reconciling conflicting perspectives

Previous research provides conflicting evidence of the association between the past performance of a business and its competitive responsiveness, with researchers observing both positive and negative relationships. To clarify this issue, the authors test a model using survey data from the retailing industry. The model delineates direct and indirect mediated paths through ability to respond, motivation to respond, and awareness of competitors’ actions to show how past performance can have both positive and negative influence on competitive responsiveness. However, the overall impact of past performance of an organization on its competitive responsiveness is positive. The implications of these findings for research, practice, and theory are discussed. Satish Jayachandran (satish@moore.sc.edu) is an assistant professor of marketing in the Moore School of Business at the University of South Carolina. His research interests are focused on issues related to the market responsiveness of firms. His research has been published in theJournal of Marketing and theJournal of the Academy of Marketing Science. He was a recipient of the Harold H. Maynard Award for 2001 from theJournal of Marketing. He was nominated a young scholar by the Marketing Science Institute in 2003. Rajan Varadarajan (varadarajan@tamu.edu) is Distinguished Professor of Marketing and holder of the Ford Chair in marketing and e-commerce at Texas A & M University. His teaching and research interests are in the areas of strategy, international marketing, and e-commerce. His research on these topics has been published in theJournal of Marketing, theJournal of the Academy of Marketing Science, theAcademy of Management Journal, Strategic Management Journal, Sloan Management Review, California Management Review, Business Horizons, theJournal of Business Research, and other journals.     

Marketing strategy and the internet: An organizing framework

Competitive strategy is primarily concerned with how a business should deploy resources at its disposal to achieve and maintain defensible competitive positional advantages in the marketplace. Competitive marketing strategy focuses on how a business should deploy marketing resources at its disposal to facilitate the achievement and maintenance of competitive positional advantages in the marketplace. In a growing number of product-markets, the competitive landscape has evolved from a predominantly physical marketplace to one encompassing both the physical and the electronic marketplace. This article presents a conceptual framework delineating the drivers and outcomes of marketing strategy in the context of competing in this broader, evolving marketplace. The proposed framework provides insights into changes in the nature and scope of marketing strategy; specific industry, product, buyer, and buying environment characteristics; and the unique skills and resources of the firm that assume added relevance in the context of competing in the evolving marketplace. P. Rajan Varadarajan is a distinguished professor of marketing and the Ford chair in marketing and e-commerce in the Mays Business School at Texas A&M University. His research and teaching interests are in the areas of strategy and e-commerce. His research on corporate, business, and marketing strategyrelated issues has been published in theJournal of Marketing, Journal of the Academy of Marketing Science, Academy of Management Journal, Strategic Management Journal, and other leading journals. He is coauthor of a textbook titledContemporary Perspectives on Strategic Market Planning. Dr. Varadarajan served as editor of theJournal of Marketing from 1993 to 1996. He currently serves on the Board of Governors of the Academy of Marketing Science and as editor of theJournal of the Academy of Marketing Science. Manjit S. Yadav is an associate professor of marketing and Mays Faculty Fellow, Department of Marketing, Mays Business School, Texas A&M University. He obtained his Ph.D. in marketing from Virginia Tech. His research focuses on electronic commerce, firms’ pricing strategies, and consumers’ price perceptions. He has published in a number of journals, includingJournal of Marketing Research, Journal of Consumer Research, Journal of the Academy of Marketing Science, andSloan Management Review. He is a member of the Editorial Review Board of theJournal of the Academy of Marketing Science. At Texas A&M, Dr. Yadav developed and currently teaches a graduate course (Strategic Foundations of E-Commerce) dealing with the strategic challenges and opportunities in the emerging electronic marketplace. He served as cochair of the American Marketing Association’s 2001 Faculty Consortium on Electronic Commerce held at Texas A&M University.     

A provider-cost/patron-effort schema for classifying products

Since the commodity-oriented thinkers of marketing’s early history, marketers have sought a valid schema for classifying products. Currently, the marketing literature is dominated by two types of schemata for classifying products: product-based and consumer cost-based. Despite marketing tenets such asexchange is the focal notion of marketing andgood marketing theory integrates the perspectives of firms and consumers, no existing schema embodies either exchange or a dual firm/consumer perspective. After reviewing the existing classificational schemata, one such schema is proposed and evaluated. The two classifying dimensions of this schema are providers’ relative variable costs (PRVC) and patrons’ relative effort (PRE). Crossing high and low levels of PRVC and PRE yields four product categories: low cost/effort, patroneffort heavy, provider-cost heavy, and high cost/effort. His work has appeared inJournal of Marketing, Journal of Business Research, Journal of Retailing, Journal of Advertising, International Journal of Advertising, Business Horizons, Business Ethics: A European Review, and other journals. His current research interests include marketing theory, advertising, and ethics. He received his Ph.D. in marketing from Purdue University. will soon receive his Ph.D. in marketing from the University of North Texas. His work has appeared inAcademy of Management Journal, as well as the proceedings of the American Marketing Association, the Decision Science Association, and the Society of Franchising. His research interests include building and testing models in international marketing, consumer behavior, and marketing management. His current research interests include self-referent processing of advertisements and consumer satisfaction.     

Foreign market entry mode choice of service firms: A contingency perspective

Research on how service firms choose their initial mode of operation in foreign markets appears to have led to two contradictory conclusions. Findings from one group of studies suggest that factors determining entry mode choice by manufacturing firms are generalizable to service firms. Findings from another group of studies contradict that view. The authors reconcile the two views by means of a classification scheme that allows some services to be grouped with manufactured goods in terms of entry mode choice. A conceptual model of factors affecting the entry mode choice of service firms is proposed, research propositions are developed, and managerial implications and future research directions are discussed. Ikechi Ekeledo is a doctoral candidate in marketing at the University of Illinois at Chicago. His research interests include international marketing, services marketing, and strategic market planning. K. Sivakumar (Ph.D., Syracuse University, 1992) is an associate professor of marketing at the University of Illinois at Chicago. His research interests include pricing, international marketing, and innovation management. His research has been published or is forthcoming inBarron’s, International Marketing Review, theJournal of Business Research, theJournal of Marketing, theJournal of Marketing Theory & Practice, theJournal of Product Innovation Management, theJournal of Social Behavior & Personality, Marketing Letters, Marketing Science Institute’s Working Paper Series, and Pricing Strategy & Practice: An International Journal, and summarized as Editors’ Briefings inHarvard Business Review. He has won several awards for research and is on the editorial boards of four scholarly journals.     

Interactivity in the electronic marketplace: An exposition of the concept and implications for research

It is widely recognized that a better understanding of interactivity and its implications is essential for facilitating research focused on the emerging electronic marketplace. However, deficiencies persist in our understanding of this important concept. Building on research in various fields of study (e.g., information systems, marketing, and computer-mediated communication), this article presents a conceptualization of interactivity from a marketplace perspective that is missing or inadequately articulated in the literature. Specifically, interactivity is conceptualized as a characteristic of computer-mediated communication in the marketplace that increases with the bidirectionality, timeliness, mutual controllability, and responsiveness of communication as perceived by consumers and firms. The article concludes with a research agenda focusing on issues relating to measurement, conceptual refinement, and management of interactivity in the electronic marketplace. Manjit S. Yadav (yadav@tamu.edu) is an associate professor of marketing and Mays Research Fellow, Department of Marketing, Mays Business School, Texas A&M University. He obtained his Ph.D. in marketing from Virginia Tech. His current research focuses primarily on strategic issues related to the Internet and the electronic marketplace. He has published in a number of journals including theJournal of Marketing Research, the Journal of Consumer Research, the Journal of the Academy of Marketing Science, andSloan Management Review. He is a member of the Editorial Review Board of theJournal of the Academy of Marketing Science and theJournal of Interactive Marketing. He is a recipient of the Faculty Distinguished Achievement Award in Teaching (Mays Business School, Texas A&M University). He cochaired the American Marketing Association’s Faculty Consortium on Electronic Commerce held at Texas A&M University. Rajan Varadarajan (varadarajan@tamu.edu) is a distinguished professor of marketing and holder of the Ford Chair in Marketing and E-Commerce in the Mays Business School at Texas A&M University. His primary teaching and research interest is in the area of strategy. His research on strategy has been published in theJournal of Marketing, theJournal of the Academy of Marketing Science, theAcademy of Management Journal, theStrategic Management Journal, and other journals. He served as editor of theJournal of Marketing from 1993 to 1996 and theJournal of the Academy of Marketing Science from 2000 to 2003. He currently serves on the Editorial Review Boards of theJournal of Marketing, theJournal of the Academy of Marketing Science, theJournal of International Marketing, theJournal of Interactive Marketing, and other journals. He is a recipient of a number of honors and awards including the Academy of Marketing Science Distinguished Marketing Educator Award (2003), the American Marketing Association Mahajan Award for Career Contributions to Marketing Strategy (2003), and the Texas A&M University Distinguished Achievement Award in Research (1994).     

Strategic alliances: A synthesis of conceptual foundations

Strategic alliances, a manifestation of interorganizational cooperative strategies, entails the pooling of specific resources and skills by the cooperating organizations in order to achieve common goals, as well as goals specific to the individual partners. Gaining access to new markets; accelerating the pace of entry into new markets; sharing of research and development, manufacturing, and/or marketing costs; broadening the product line/filling product line gaps; and learning new skills are among the motives underlying the entry of firms into strategic alliances. During the last decade, an increasing number of firms have entered into alliances with other firms within the same industry, as well as within other industries. Some firms have progressed well beyond forming isolated alliances to establishing a web of intra- and interindustry, and intra-and international strategic alliances. Against this backdrop, we provide a synthesis of the conceptual foundations of strategic alliances and explore the role of marketing in strategic alliances. His major research interests are in the areas of corporate, business, and marketing strategy. His research studies have been published in theJournal of Marketing, Journal of the Academy of Marketing Science, Academy of Management Journal, Strategic Management Journal, Sloan Management Review, California Management Review, Business Horizons, Journal of Business Research, and other journals. Her major research interests are in the areas of marketing ethics and international marketing. Her research studies have been published in theJournal of Marketing Education, The Philanthropist, andFestival Management and Event Tourism Journal.     

Trademark dilution and the practice of marketing

This article considers the marketing implications of the Federal Trademark Dilution Act (FTDA) of 1995. The FTDA, an amendment to the Lanham Act, will influence the manner in which marketing is practiced well into the twenty-first century. Although the FTDA is specifically concerned with protecting famous trademarks from being diluted—either by having their distinctiveness diminished or positive associations tarnished—by similar trademarks, its influence will not be limited to trademark or branding issues. Implications range from the allocation of advertising resources to the increased use of marketing research. Robert A. Peterson holds the John T. Stuart III Centennial Chair in Business Administration and the Charles E. Hurwitz Fellowship, both at The University of Texas at Austin. His Ph.D. is from the University of Minnesota. Dr. Peterson’s publications have appeared in such journals as theJournal of the Academy of Marketing Science, Journal of Marketing, Journal of Marketing Research, Journal of Consumer Research, andMarketing Science. His research interests range from Internet marketing to research methodology to marketing strategy. He presently serves on the boards of several for-profit and not-for-profit organizations as well as an advisory committee to the Bureau of the Census. Karen H. Smith is an assistant professor at Southwest Texas State University. Her Ph.D. is from The University of Texas at Austin. Dr. Smith’s research interests include consumer information processing, consumer knowledge structures (schemata), dilution of brand equity, and adolescent smoking. Her research has been published in theJournal of Consumer Research, Journal of Marketing Education, andAdvances in Consumer Research. Philip C. Zerrillo is executive MBA director at The University of Texas at Austin. His Ph.D. is from Northwestern University. Dr. Zerrillo’s research interests have focused on broad-based business innovation, strategic development of distribution channel arrangements, the value of brands in the distribution channel, managing brands as assets, and the legal aspects of branding and channel decisions. His most recent research on antitrust regulation appeared in theJournal of Corporation Law, a University of Iowa law review.     

The influence of ethical climate and ethical conflict on role stress in the sales force

Several leading models of ethical decision making include factors contributing to an organization’s ethical climate as significant determinants affecting ethical choice. The relationship of ethical climate to ethical conflict and role conflict is examined in a salesperson context. Results suggest that salespersons’ perceptions of a positive ethical climate are negatively associated with their perceived ethical conflict with sales managers. Implications and directions for future research are provided. He has experience in wholesale and retail sales. His research interests are in sales, sales management, marketing ethics, and consumer behavior. His articles have appeared in theJournal of Public Policy and Marketing, Journal of Business Ethnics, Journal of Marketing Management, Journal of Marketing Theory & Practice, andIndustrial Marketing Management, as well as various national and regional proceedings. He is coauthor ofSales Management: Analysis and Decision-Making. He is currently the president of the Academic Council of the American Marketing Association. He is a Southern Marketing Association Fellow and a Southwestern Marketing Association Fellow. He has published 15 books and more than 50 articles. His books includeMarketing: Concepts and Strategies andBusiness Ethics. His work has appeared inJournal of Marketing, Journal of Marketing Research, Journal of the Academy of Marketing Science, among others. His major research focus is marketing implementation and ethical compliance frameworks for organizations. Before commencing his academic career, he worked in sales, product management, and sales management with Exxon and Mobil. He has received various teaching and research awards, including being named the Marketing Educator of the Year by Sales and Marketing Executives International (SMEI). His primary research is in personal selling and sales management. His work has appeared inJournal of Marketing, Journal of Marketing Research, Journal of Personal Selling & Sales Management, andJournal of the Academy of Marketing Science, among others. He is the coauthor of five textbooks, includingThe Professional Selling Skills Workbook, Sales Management: Analysis and Decision-Making, andMarketing Principles and Perspective.     

A measure of long-term orientation: Development and validation

Long-term orientation (LTO) is a salient aspect of national culture values and as such influences consumers’ decisionmaking processes. This article describes the development and validation of measures to assess LTO. Scale development procedures resulted in a two-factor, eight-item scale that reflects the tradition and planning aspects of LTO. A program of studies involving more than 2,000 respondents in four countries demonstrated the psychometric properties of the measures, their discriminant and convergent validities, and the relationship of the measures to other important theoretical concepts (e.g., consumer frugality, compulsive buying, and ethical values). The measures are applicable for investigating individual differences in LTO both within and across cultures. William O. Bearden (bbearden@moore.sc.edu) is the Bank of America Chaired Professor of Marketing in the Moore School of Business at the University of South Carolina. His articles have been published in journals such as theJournal of Consumer Research, theJournal of Marketing, the Journal of Marketing Research, theJournal of the Academy of Marketing Science, and theJournal of Retailing. His research interests include consumer perceptions of value and prices, the measurement of consumer and marketing constructs, and the effects of marketplace promotions. R. Bruce Money (moneyb@byu.edu) is the Donald Staheli Fellow and an associate professor of marketing and international business in the Marriott School of Management at Brigham Young University. His articles have been published in journals such as theJournal of Marketing, theJournal of the Academy of Marketing Science, theJournal of International Business Studies, andSloan Management Review. His research interests include the international aspects of national culture’s measurement and effects, business-to-business marketing, word-of-mouth promotion, services marketing, and negotiation. Jennifer L. Nevins (nevinsjl@appstate.edu) is an assistant professor of marketing in the Walker College of Business at Appalachian State University. Her research interests include export marketing, distribution channels, and the influence of cultural values on international channel relationships.     

Customer value,satisfaction, loyalty,and switching costs: An illustration from a business-to-business service context

Although researchers and managers pay increasing attention to customer value, satisfaction, loyalty, and switching costs, not much is known about their interrelationships. Prior research has examined the relationships within subsets of these constructs, mainly in the business-to-consumer (B2C) environment. The authors extend prior research by developing a conceptual framework linking all of these constructs in a business-to-business (B2B) service setting. On the basis of the cognition-affect-behavior model, the authors hypothesize that customer satisfaction mediates the relationship between customer value and customer loyalty, and that customer satisfaction and loyalty have significant reciprocal effects on each other. Furthermore, the potential interaction effect of satisfaction and switching costs, and the quadratic effect of satisfaction, on loyalty are explored. The authors test the hypotheses on data obtained from a courier service provider in a B2B context. The results support most of the hypotheses and, in particular, confirm the mediating role of customer satisfaction. Shun Yin Lam (asylam@ntu.edu.sg; fax: 65-6791-3697) is an assistant professor of marketing and international business in the Nanyang Business School at Nanyang Technological University in Singapore. Lam received his Ph.D. from the University of Western Ontario and has research interests in a number of areas including retail marketing, customer loyalty, and customers’ adoption and usage of technology. His work has appeared inMarketing Science, theJournal of Retailing, theInternational Journal of Research in Marketing, andAdvances in Consumer Research. Venkatesh (Venky) Shankar (vshankar@rhsmith.umd.edu) is Ralph J. Tyser Fellow and an associate professor of marketing in the Smith School of Business at the University of Maryland. His areas of research are e-business, competitive strategy, international marketing, pricing, new product management, and supply chain management. His research has been published or is forthcoming in theJournal of Marketing Research, Marketing Science, theJournal of Marketing, theStrategic Management Journal, theJournal of Retailing, theInternational Journal of Research in Marketing, theJournal of Public Policy and Marketing, andMarketing Letters. he is co-editor of theJournal of Interactive Marketing; associate editor ofManagement Science; and serves on the editorial boards ofMarketing Science, theJournal of Marketing, theInternational Journal of Research in Marketing, theJournal of Retailing, and theJournal of Academy of Marketing Science. He is a three-time winner of the Krowe Award for Outstanding Teaching and teaches Marketing Management, Digital Business Strategy, Competitive Marketing Strategy, and International Marketing (http://www.venkyshankar.com). M. Krishna Erramilli (amkerramilli@ntu.edu.sg) is an associate professor of marketing and international business in the Nanyang Business School at Nanyang Technological University in Singapore. He has undertaken many studies on marketing strategy issues in service firms, particularly in an international context, and has published his work in journals like theJournal of Marketing, theJournal of International Business Studies, theColumbia Journal of World Business, and theJournal of Business Research. He has presented numerous papers at international conferences. His current research interests center on the international expansion of Asia-based service firms. Bvsan Murthy (abmurthy@ntu.edu.sg) is an associate professor of marketing and international business in the Nanyang Business School at Nanyang Technological University in Singapore. Prior to turning to the academe a decade ago, he had 20 years of international industry experience. He has published in journals likeThe Cornell H.R.A. Quarterly and theInternational Journal of Contemporary Hospitality Management and has also written industry white papers/monographs and chapters in books. His current research interests center on strategic services marketing/management and customer value management.     

The impact of research design on consumer price recall accuracy: An integrative review

For almost half a century, researchers have examined consumer knowledge of prices, often with disturbing and conflicting results. Although the general findings suggest that consumer knowledge of prices is poorer than assumed in neoclassical economic theory, significant variations among results exist. The authors synthesize findings from prior studies to determine the impact of research design choices on price recall accuracy measures. A meta-analysis indicates that a significant amount of variation in the accuracy of consumers’ price recall is related to research design characteristics such as the presence of financial rewards, respondents’ task size, and the price elicitation approach. Implications for price awareness research are discussed. Hooman Estelami is an assistant professor of marketing and codirector of the Pricing Center at the Graduate School of Business, Fordham University. His research has been published in, among others, theJournal of the Academy of Marketing Science, theJournal of Service Research, theJournal of Product and Brand Management, theJournal of Marketing Theory and Practice, theJournal of Consumer Satisfaction/Dissatisfaction and Complaining Behavior, theJournal of Professional Services Marketing, theJournal of Business in Developing Nations. Donald R. Lehmann is George E. Warren professor of marketing at the Graduate School of Business, Columbia University. His research has been published in theJournal of Marketing Research, theJournal of Marketing, Marketing Science, theJournal of Business Research, theJournal of Retailing, theJournal of Product Innovation Management, Management Science, Marketing Letters, and elsewhere. He has written numerous books related to marketing research and marketing management.     

The role of interpersonal liking in building trust in long-term channel relationships

This article explores the important role of liking in the development of the buyer’s trust in the sales rep. The authors argue that liking’s role is richer and qualitatively different from that of the more cognitive antecedents of trust. They posit that many cognitive antecedents of trust operate mainly through liking. They argue that as the buyer-sales rep relationship matures, liking plays an even more important role in influencing trust. The authors empirically test a model delineating the mediating role of liking in developing trust. They find that when the relationship between the buyer and the sales rep is young, liking partially mediates the effect of similarity of business values and fully mediates the influence of frequency of personal interaction on trust. Moreover, as the buyer’s relationship with the rep ages, liking takes the foreground in trust development, while more cognitive antecedents recede into the background. Carolyn Y. Nicholson (Ph.D., Virginia Polytechnic Institute and State University) is an assistant professor of marketing at Stetson University. Her current research areas include forms and uses of communication in distribution channels, trust and commitment in marketing relationships, and Internet marketing. Her research has appeared in theJournal of Retailing, along with numerous national conference proceedings. Larry D. Compeau (Ph.D., Virginia Polytechnic Institute and State University) is an associate professor of marketing at Clarkson University. His research has appeared in theJournal of Public Policy & Marketing and theJournal of Business Research. He has recently coedited a special issue of theJournal of Public Policy & Marketing on pricing. His research has appeared in numerous national conference proceedings. Rajesh Sethi (Ph.D., University of Pittsburgh) is an assistant processor of marketing at Clarkson University. His current research areas include new product development, cross-functional teams, Web-based new product development, and electronic commerce. He has published in theJournal of Marketing, theJournal of Marketing Research, theJournal of the Academy of Marketing Science, and theJournal of Social Policy and Public Management. He also has published in numerous national conference proceedings.