How brand innovativeness creates advertising flexibility

We advance a broadened conceptualization of advertising context effects by considering how consumer response is influenced by the competitive advertising context. This contextual variable reflects how typically or atypically advertising tactics are employed by brands in a product category. Study 1 demonstrates that employing an advertising tactic that is perceived by consumers as atypical in a category undermines its influence on brand attitudes. Study 2 shows that this persuasion penalty is circumvented by innovative brands through a phenomenon we refer to as advertising flexibility that enables innovative brands to successfully employ advertising tactics under a wider range of conditions than non-innovative brands. A final study provides process evidence for this effect by showing that brand attitudes are determined by advertising content for innovative brands but by considerations of the competitive advertising context for non-innovative brands.     

Enhancing television advertising: same-language subtitles can improve brand recall,verbal memory,and behavioral intent

This research explores how same-language subtitles—on-screen text that matches the spoken language—can enhance advertising effectiveness for television commercials on normal viewing audiences outside of foreign-language or deaf-viewer contexts. A preliminary eye-tracker study shows that same-language subtitles capture disproportionate visual attention, and a first study highlights that same-language commercial subtitles can increase brand recall and memory of other verbal ad information. Three further studies using 12 additional ads reinforce the positive effects of subtitles and show how same-language subtitle effectiveness varies with changes in visual and verbal ad complexity. In addition to showing how subtitles can increase behavioral intent, results also highlight how varying subtitle content affects memory gains and illustrate how subtitles can lead to negative effects in the uncommon situation that brand information is missing from the audio. As the efficacy of television advertising becomes increasingly debated, same-language subtitling is a simple way to boost advertising effectiveness.     

品牌社交媒体广告内容对消费者社交媒体参与度的影响

基于参与度理论与社交媒体特点定义消费者社交媒体参与度与它的四个维度：意识、产生情感、产生理性思考、认同。建立社交媒体广告内容分类标准,收集二手数据后使用方差模型分析品牌社交媒体广告内容对消费者社交媒体参与度的影响。结果显示社交媒体广告内容类型显著影响消费者社交媒体参与度,新产品内容效果最好,其次是促销、游戏/抽奖、社会责任内容。此研究结果不仅可丰富消费者行为视角的品牌社交媒体广告相关理论研究,也可为品牌设计社交媒体广告内容营销提供管理建议。     

Effects of offline ad content on online brand search: insights from super bowl advertising

Individuals watch TV shows while simultaneously and/or immediately searching online. Thus, the content of offline TV ads can affect online brand search, a key predictor of sales. Yet there are few insights on the effect of offline ad content on online brand search. We develop hypotheses relating the informational and emotional content of TV ads on online brand search, independently, and in conjunction with two attentional content elements of the ad campaign, prior media publicity and brand website prominence in the TV ad. We test the hypotheses using a quasi-experimental study, the telecast of TV ads on the annual Super Bowl event between 2004 and 2012 (n = 293 observations). We measure online brand search by online brand search lift, i.e., the growth in online brand search following the telecast of the brand’s ad on Super Bowl. The findings indicate that the informational content of the TV ad increases online brand search, while both attentional content elements decrease this effect. We find no support for the effect of emotional content of the TV ad on online brand search. Our findings extend marketing theory on online search and generate managerial implications for designing TV ads to increase online brand search.     

Exploring the impact of advertising and R&;D expenditures on corporate brand value and firm-level financial performance

A parsimonious framework linking advertising expenditures and research and development expenditures to brand value, and brand value in turn to firm-level financial performance, was proposed and empirically investigated under four data conditions: data form, brand type, financial performance metric, and lag structure. Using pooled data from 125 firms (848 firm-year observations) over the period 1991–2007, 108 path analyses were conducted to compute five path model output metrics. Data on these metrics were then compared for each of the data conditions by means of analysis of variance. Although significant relationships were generally observed among framework variables, study results differed considerably across three of the four data conditions. The principal take-away from the study is that the impact of marketing activities on firm-level financial performance is likely to be in large part a function of the specific research purpose and methodology employed. As such, the take-away has implications when interpreting value-relevance findings, when constructing theories involving market-based assets, and when designing studies to investigate relationships between marketing and financial performance.     

Branding strategies,marketing communication,and perceived brand meaning: The transfer of purposive,goal-oriented brand meaning to brand extensions

This article develops and tests a conceptual model of the transfer process whereby perceived similarity organized around shared goals facilitates the transfer of knowledge and affect from a parent brand to an extension of that brand. Empirical results, based on two well-known brands and two hypothetical product extensions for each brand, demonstrate that the availability of well-formed, goal-derived categories associated with a parent brand establishes an organizing framework for consumers' assessments of similarity thatfacilitates the transfer of consumer knowledge and attitude from the parent brand to a brand extension in another product category. This facilitating effect of similarity does not occur in the absence of goal-derived categories. The results also reveal how marketing communication can be used to facilitate the transfer process by framing similarity in terms of common goals. Implications are discussed for the organization of consumer knowledge and affect across product categories and for understanding prior research findings on brand extension. Ingrid M. Martin (imartin@csulb.edu) is an associate professor of marketing at California State University at Long Beach. Her research has examined issues in the area of consumer goals as they guide structuring and processing marketing information, product choice and usage. Her research has been published in theJournal of Consumer Research, Journal of Marketing Research, Journal of Public Policy & Research, and five book chapters. David W. Stewart (david.stewart@marshall.usc.edu) is the Robert E. Brooker Professor of Marketing in the Marshall School of Business at the University of Southern California. He is the immediate past editor of theJournal of Marketing. Dr. Stewart has authored or co-authored more than 200 publications and seven books. Shashi Matta (matta@marshall.usc.edu) is a doctoral candidate in marketing at the Marshal School of Business, University of Southern California. His research interests include branding, and services marketing. Shashi’s research has been published in theJournal of Consumer Research.     

Point-of-purchase displays, product organization, and brand purchase likelihoods

Can point-of-purchase (POP) displays cause a decrease in sales of the featured brand? In an actual test-market promotion, the use of special POP displays led to a decrease in sales of featured wines from a specific U.S. region. Moreover, sales of regularly shelved wines from competitive regions actually increased. The results of a laboratory experiment supported the explanation that the POP displays essentially reorganized the wines into region categories within the stores, making it easier for consumers to compare alternatives by region. As a result, sales of wines from preferred regions increased and sales of wines from disliked regions decreased relative to when the wines were displayed by variety categories on regular shelf space. Further evidence indicated that reorganizing products by levels of a given attribute influences purchase likelihoods mainly when the attribute is otherwise low rather than high in salience and when brands have normally high rather than low purchase likelihoods.     

Comparative advertising and counterargument

One of the primary objectives of a comparative advertisement should be to convince users of competing brands to switch to the sponsored brand, or at least to get them to consider the sponsored brand as an acceptable alternative when they repurchase that type of product. The purpose of this research was to determine whether or not levels of counterargument differ (1) between readers of comparative and noncomparative advertisements, (2) among readers exposed to different types of comparative advertisements, and (3) among owners and nonowners of the competing brand. Findings indicate that comparative ads may have the potential to elicit more counter-arguments than noncomparative ads, and that owners of the competing brand engaged in higher levels of counterargument that nonowners.     

Market segmentation,advertising and the concept of communication systems

In this paper, attempts have been made to: (1) examine some of the underlying causes of the difficulties in which the advertising industry finds itself; and (2) to propose a basis for a reconceptualization of the role and function of that industry. The basis proposition is that the advertising industry has failed to evolve strategically because it has become locked into ways of thinking about communication and market segmentation which are inadequate and limiting in some crucial ways. By way of an alternative mode of thinking, it is proposed that natural market segments arise from the manner in which people establish and maintain ways of knowing and acting. Since they do so basically in communication with others, the concept of communication system is proposed as a means of identifying such natural market segments. By segmenting markets into various functioning communication systems (as distinct from purely statistical categorizations) and by formulating advertising strategies accordingly, advertisers are more likely to be able to communicate effectively and less likely to find themselves accused of misleading or irrelevant advertising.     

Brand portfolio, corporate image, and reputation: Managing brand deletions

Brand portfolio management addresses, among other issues, the interrelated questions of what brands to add, retain, or delete. A small number of brands in a firm’s brand portfolio can often have a disproportionately large positive or negative impact on its image and reputation and the responses of stakeholders. Brand deletions can be critical from the standpoint of a firm being able to free up resources to redeploy toward enhancing the competitive standing and financial performance of brands in its portfolio with the greatest potential to positively affect its image and reputation. Against this backdrop, the authors focus on the organizational and environmental drivers of brand deletion propensity, the predisposition of a firm to delete a particular brand from its brand portfolio. The authors propose a conceptual model delineating the drivers of brand deletion propensity and suggest directions for future research, including the related concept of brand deletion intensity. Rajan Varadarajan (varadarajan@tamu.edu) is 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, the Journal of the Academy of Marketing Science, theAcademy of Management Journal, theStrategic Management Journal, and other journals. Rajan 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). Mark P. DeFanti (mdefanti@tamu.edu) is a doctoral student in marketing at Texas A&M University. He received his M.B.A. from The University of Texas at Austin and his B.A. from Amherst College. His current research interests include brand portfolio management, corporate name changes, and business-to-business branding. His teaching interests include advertising, brand management, and marketing strategy. Paul S. Busch (p-busch@tamu.edu) is a professor of marketing in the Mays Business School at Texas A&M University. He received his Ph.D. from Pennsylvania State University. His research has been published in theJournal of Marketing, theJournal of Marketing Research, Decision Sciences, theJournal of Business Research, andBusiness Horizons. He serves on the editorial review boards of theJournal of Business-to-Business Marketing, theAsian Journal of Marketing, andMarketing Management. His research interests include buyer-seller relationships, business-to-business branding, and brand portfolio management. His teaching interests include promotional strategy and new product development.     

The impact of corrective advertising upon consumers' attitudes,beliefs, and behavior

Laboratory experiments regarding the effectiveness of corrective advertising have produced mixed and somewhat inconsistent results. These findings, as well as previous conceptual contributions to the literature, are reviewed and briefly discussed. An alternate basis upon which to predict the impact of corrective advertising on consumers is proposed and supporting literature from social psychology is reviewed. The authors conclude that corrective advertising is not likely to achieve the goals of FTC policy makers.     

Dynamic relationships among R&D,advertising, inventory and firm performance

Firms’ spending on R&D, advertising, and inventory holding affect firm performance, which in turn affects future spending in each of these three areas. Effective allocation of resources across R&D, advertising, and inventory holding is challenging since an understanding of their dynamic inter-relationships is necessary. Past research has not examined these spending issues simultaneously. We estimate inter-relationships among the effects of firms’ R&D spending, advertising spending, and inventory holding on sales and firm value (as measured by its Tobin’s Q) using a vector auto regression model of a panel of publicly listed U.S. high technology manufacturing firms. Insights from the computation of long-term effects indicate that advertising spending and inventory holding increase sales, while R&D spending does not, and advertising and R&D spending increase firm value, while inventory holding does not. In addition, firm spending in all three functions is positively affected by sales but negatively by firm value. We discuss the implications of the study for marketing literature and managerial practice.     

The effect of employee behavior on brand personality impressions and brand attitudes

This research examines how consumers update their brand personality impressions and brand attitudes after interacting with one of the brand's employees. Drawing on stereotyping theory, the author develops a framework that proposes that the impact of an employee's behavior depends on how the employee is categorized. When the employee is considered primarily as an exemplar of the brand's workforce, his or her behavior is generalized more strongly to the brand. When, however, the employee is judged as a relatively unique individual (i.e., when the employee is subtyped), the behavior is not transferred to the brand to the full extent. The results of three studies provide converging evidence and show that the degree to which consumers subtype an employee is determined by the amount of information they possess about the employee, the extent to which they depend on the employee, and their motivation to form an accurate impression. The findings have direct implications for marketers interested in understanding how employees affect the brands they represent.

文化创意企业品牌延伸对母品牌形象回溯影响研究

以文化创意企业品牌联想和品牌延伸契合度为基础,把延伸的品牌划分为知名品牌和一般品牌,把延伸距离划分为近延伸和远延伸,通过问卷调查的方式,用spss17．0统计分析工具中的相关分析及回归分析,在形成的2 x2矩阵中研究消费者对于企业延伸的接受性,并判断品牌延伸对母品牌形象的影响程度,便于文化创意企业品牌延伸的过程中,充分利用相关影响要素,避免资金、人力等方面的浪费,提高品牌延伸的成功率,达到稳步提高文化创意企业核心竞争力的目的。     

Cooperative advertising,pricing strategy and firm performance in the e-marketing age

Cooperative advertising plays a strategically important role in marketing programs. In this paper, we use a game theoretical model to study not only cooperative advertising but also pricing strategy in a manufacturer—e-retailer supply chain with the consideration of product categories. First, two cooperative advertising models (the leader-follower Stackelberg and the strategic alliance) are established and analyzed. We then compare the two models to develop some important theories and managerial insights. Furthermore, we utilize a bargaining model to implement profit sharing and determine the manufacturer’s participation rate for cooperative advertising in the channel coordination of strategic alliance. Based on our results, we derive optimal market strategies and identify probable paths of future research.     

Effects of loyalty programs on value perception,program loyalty,and brand loyalty

The authors investigate how reward schemes of a loyalty program influence perceived value of the program and how value perception of the loyalty program affects customer loyalty. The results show that involvement moderates the effects of loyalty programs on customer loyalty. In high-involvement situations, direct rewards are preferable to indirect rewards. In low-involvement situations, immediate rewards are more effective in building a program's value than delayed rewards. Under high-involvement conditions, value perception of the loyalty program influences brand loyalty both directly and indirectly through program loyalty. Under low-involvement conditions, there is no direct effect of value perception on brand loyalty. Youjae Yi (uoujae@snu.ac.kr) (Ph.D., Stanford University, 1987) is a professor of marketing in the College of Business Administration at Seoul National University. He was at the University of Michigan as an assistant professor, Sanford Robertson Assistant Professor, and tenured associate professor. His work has appeared in theJournal of Marketing Research, theJournal of Consumer Research, theJournal of Applied Psychology, theJournal of the Academy of Marketing Science, theJournal of Consumer Psychology, theJournal of Advertising, and theJournal of Econometrics. He is currently an editor of theKorean Journal of Consumer Studies and was an editor of theSeoul Journal of Business. Hoseong Jeon (jeonho1@snu.ac.kr) is a doctoral candidate in the College of Business Administration at Seoul National University. He received his M.A. in advertising from Michigan Sate University. His current research interests include customer relationship management, advertising effects on consumer attitudes, and determinants of customer loyalty.     

经济政策不确定性、企业金融化与公司价值

理论分析和经验证据表明经济政策不确定性会影响企业投融资决策等微观行为,进而影响公司价值。以2007～2019年我国上市公司数据为研究样本,借鉴Baker等构建的经济政策不确定性指数实证分析经济政策不确定性对企业金融化和公司价值的影响。研究发现：经济政策不确定性对企业金融化水平有着正面的影响。但经济政策不确定性下,企业金融化水平影响公司价值的提升。进一步研究发现,相对于民营企业,经济政策不确定性下的企业金融化损害国有企业的公司价值;相对于中央国企,经济政策不确定性下的企业金融化损害地方国企公司价值。进一步对企业规模异质性、受融资约束程度等的差异进行分析,在微观作用机制上,发现经济政策不确定性下的企业金融化一方面挤出企业投资,另一方面抑制企业创新水平的提高是影响公司价值提升的重要原因。     

经济政策不确定性、产业政策与并购溢价

面对宏观经济政策的不确定性,企业并购定价会受到怎样的影响?具有明确政策信息导向的产业政策又会在不确定性环境中发挥怎样的作用?以我国A股上市公司2004-2018年间的并购交易事件为样本,实证检验了经济政策不确定性对并购溢价的影响及产业政策对两者之间关系的作用.研究发现,经济政策不确定性上升会导致主并企业支付更高的并购溢价,当目标企业受到产业政策支持时,两者之间的关系会被强化,即主并企业支付的并购溢价会更高.进一步研究发现,经济政策不确定性对并购溢价的影响在跨行业并购中更为显著,在关联并购与非关联并购中均显著且没有明显差异.此外,考虑并购绩效的研究表明,主并企业对目标企业支付的高溢价总体上是值得的,特别是当目标企业受到产业政策支持的时候,但经济政策不确定性会在一定程度上削弱并购溢价对并购绩效的正向影响.结论 丰富了宏观经济政策变动对微观企业行为的影响研究,并为理解政策变化对并购定价决策的影响提供了经验证据.     

National advertising,brands, and channel control: An historical perspective with contemporary options

It is the basic thesis of this paper that the continuing battle between manufacturers, wholesalers, and retailers for market control will significantly change both the quantity and quality of national advertising. Furthermore, these changes are due, in large part, to one particular aspect of this battle—the ascendancy of the store-controlled brand. The contemporary manufacturer is facing a situation which is similar to that of an earlier time in American marketing. The national advertiser's contemporary options for capturing market control can be seen more clearly through this historical perspective and through the authors' conceptual model of channel behavior. The authors would like to express appreciation to Progessor Kim B. Rotzoll, University of Illinois, for his assistance in the preparation of this article.