Uncertainty in Prerelease Advertising

Firms frequently advertise products and services before they are launched. Yet how to best design such advertisements is not well understood. The current article investigates how consumers respond to uncertainty in prerelease advertisements. Across five studies, including both field and lab studies, we first provide evidence for the positive effect of uncertain prerelease advertisements using real consumer behavior on Facebook and YouTube and at the box office. Next, we uncover the mechanism underlying this effect (i.e., inflated outcome expectancies), outline a managerially relevant boundary condition (i.e., the positive effect reverses when a preorder opportunity is offered), and demonstrate that the effect of uncertainty on consumer response differs in prerelease versus postrelease advertisements depending on consumers’ perceived risk. Finally, we discuss implications for marketing research as well as for the design of prerelease advertisements for stimulating prerelease buzz and word of mouth.     

Exploring the Role of Product Development Capability for Transforming Marketing Intelligence into Firm Performance

ABSTRACT

Purpose: This study examines the role of product development capability for transforming marketing intelligence activities into firm performance on industrial markets.

Methodology/Approach: The authors apply structural equation modeling to analyze survey data from 342 industrial manufacturing companies.

Findings: Results reveal that sales integration and holistic macroeconomic view are particularly important features of the marketing intelligence capability on industrial markets to gain additional insights in order to develop products successfully. Results also reveal that product development capability transforms the marketing intelligence activities into firm performance on industrial markets.

Research Implications: This study offers new insights on marketing theory by extending and concretizing the concept of market orientation to a broader concept of the marketing intelligence capability for industrial markets. Further, this research reveals that the product development capability serves as a mediator to business performance.

Practical Implications: This study’s systematic and tangible outline of the dimensions of marketing intelligence and its link to the product development capability helps firms to better understand how to capitalize on market orientation’s potential values.

Originality/Value/Contribution: This research (a) reveals the relevant dimensions of marketing intelligence on industrial markets and (b) shows how the product development capability tranforms marketing intelligence activities into firm performance on industrial markets.     

Weshalb konjunkturprognostiker regelmäßig den wetterbericht studieren sollten

Certainly, economic activity is infl uenced by weather conditions. In short term economic forecast, normal weather fl uctuations over the year are covered by using seasonally adjusted fi gures. However, they are calculated by time series methods and do not take into account specifi c weather conditions such as unusually mild or cold winters. In particular in the fi rst quarter of a year, it is often diffi cult to identify whether short term shifts in economic activity are due to cyclical reasons ore merely refl ect specifi c weather conditions. The paper shows that this uncertainty leads to biased forecast. After mild winters forecasts of GDP and investment in construction tend to be over optimistic whereas they are too pessimistic after atypically cold winters.     

Gemeinschaftsdiagnose – Auf ein Neues!

Ohne Zusammenfassung Roland D?hrn ist Leiter des Kompetenzbereichs „Wachstum und Konjunktur“ im Rheinisch-Westf?lischen Institut für Wirtschaftsforschung in Essen     

Deutsche Konjunktur erholt sich — Ergebnisse der Gemeinschaftsdiagnose vom Frühjahr 2013

According to the recent Joint Forecast, the German economy is back on an upward trend in spring 2013. The situation in the financial markets has eased and the headwind from the world economy has tailed off somewhat. The institutes expect gross domestic product in Germany to increase by 0.8% this year and by 1.9% next year. The expansion will mainly be driven by domestic demand. The labour market situation is expected to improve further. With capacity utilisation rising, inflation is forecasted to edge up to 2.0% next year. The public budget will be almost balanced in 2013 and should show a surplus of 0.5% in relation to gross domestic product in 2014. However, risks will continue to remain until the euro crisis is resolved.     

The influence of religious commitment on consumer perceptions of closed-on-Sunday policies: an exploratory study of Chick-fil-A in the southern United States

Many businesses operate long hours that often include nights and weekends to accommodate consumers. However, a few businesses maintain a closed-on-Sunday policy and do so while still operating successfully although closed-on-Sunday policies mean forgoing potential sales hours. As most Christian faiths consider the Sabbath as a day of rest, an oft-used rationalization for the success of businesses maintaining this policy is that they must be supported by consumers with strong religious beliefs, who appreciate the message sent by the company and as a result perceive the company favorably. The purpose of this paper was to investigate whether consumers' religious commitment influences their ethical judgment of a company's closed-on-Sunday policy and to determine whether this ethical judgment impacts a company's corporate or brand image and consumer loyalty intentions. The results suggest that consumers with higher levels of intra-personal religious commitment are more likely to hold favorable ethical judgments of closed-on-Sunday corporate policies. In addition, favorable ethical judgments of closed-on-Sunday corporate policies are likely to positively influence corporate image. A more positive corporate image ultimately results in higher consumer loyalty intentions.     

Conceptualization and Integration of Marketing Intelligence: The Case of an Industrial Manufacturer

Purpose: The primary goal of this article was to conceptualize a systematic marketing intelligence process for industrial manufacturers because, up until now, such concepts have only been focused on consumer goods settings. Hence, this article investigates how marketing intelligence activities are developed and managed effectively in industrial markets.

Methodology/approach: The authors conducted a case study of Maschinenfabrik Reinhausen, a German based manufacturer of regulation technology for power transformers.

Findings: We found that a systematic marketing intelligence process should be based on the resource- and market-based view of strategy as well as on the market orientation construct. When implementing marketing intelligence, the integration of the sales force within the whole process is the crucial lever for an industrial company. The formalization of the process is necessary to ensure its continuity and acceptance; however, the varying intensity allows the necessary flexibility of the process.

Research implications: The constraints of the decisive process steps of marketing intelligence have to be further enhanced for industrial markets. It is important to find out how the integration of the sales force can best be designed to incorporate reward systems and motivation structures, and how to establish a corporate marketing-minded culture throughout the organization.

Practical implications: The important steps for a well implemented marketing intelligence process are a preparation phase, followed by the gathering, analysis, and dissemination of information. This article highlights the success factors for each process step. Above all, managerial and organizational commitment is necessary for the implementation of the whole process.

Originality/value/contribution: By focusing on the industrial manufacturing business, this study provides deep insights into a neglected area of research. Light needs to be shed on marketing intelligence in industrial markets, where the lack of traditional market research has to be compensated.