Beyond market orientation: When customers and suppliers disagree

The essence of market orientation is the successful management of a relationship between suppliers and customers. During the past 15 years, a body of scholarship on antecedents and consequences of market orientation has emerged. But what is the appropriate level of market orientation, and what happens when customers and suppliers disagree about the appropriate level of a supplier's market orientation? To what extent does such disagreement concerning market orientation affect the customer-supplier relationship? Do answers to these questions vary by country? The authors examine these issues using data from a survey of leading Japanese and U.S. business firms and their key customers that employed a unique matched supplier-customer sampling methodology. The authors report several interesting results.     

Generalized Lotka-Volterra equations and the mechanism of technological substitution

This paper demonstrates that if technological substitution is viewed as the result of competition between old and new technology in which new technology wins, and if generalized Lotka-Volterra equations are taken to describe this competition, then various models of technological substitution can be obtained as very special cases. It is argued that this could lead to a better understanding of the substitution process itself.     

The role of affect in attitude formation: A classical conditioning approach

This study investigates the role of affect in attitude formation. Two experiments, using established conditioning procedures, assessed the impact of affect on attitude formation. The results of Experiment 1 indicate that affect can influence attitudes even in the absence of product beliefs. The results of Experiment 2 suggest that affect plays as important or more important a role than the belief mechanism in attitude formation, depending on the number of repetitions. Implications of the results for understanding the role of affect in advertising are discussed. John Kim is an associate professor of marketing in the School of Business Administration at Oakland University. He earned his Ph.D. in marketing from the University of Cincinnati. His research interests include consumer decision making, advertising effectiveness, and brand equity. His work has appeared in theJournal of Marketing Research, theJournal of Consumer Research, and theJournal of Business Research. Jeen-Su Lim is Interim Chair and a professor of marketing at the University of Toledo. He received his Ph.D. in marketing from Indiana University. His work has appeared in many journals, including theJournal of Marketing Research, theJournal of Consumer Research, theJournal of Business Research, Industrial Marketing Management, International Marketing Review, Management International Review, Psychology and Marketing, and theJournal of Health Care Marketing, among others. His research interests include consumer inference processes, new product development and competitive strategy, and export marketing. Mukesh Bhargava is an assistant professor in the Department of Marketing and Management at Oakland University. He has a Ph.D. in marketing from the University of Texas, Austin, and several years of practical experience in advertising and marketing research. His research includes areas such as advertising effectiveness and evaluation of marketing strategy in business and nonprofit organizations. His work has appeared in theJournal of Advertising Research, Marketing Letters, theJournal of Business Research, and theJournal of the Academy of Marketing Science, among others.     

Flexibility in share repurchases: Evidence from UK

Although firms cite flexibility as important when repurchasing shares, we know little about how or why firms vary repurchases. We use an extensive sample of daily repurchase transactions from the United Kingdom to investigate how the number of repurchase days and volumes of shares repurchased change based on several known motivations. We find that stock price changes, liquidity, leverage, takeover activity and earnings per share targets impact share repurchasing patterns. Further, we compare actual repurchases to alternative share accumulation strategies and find that firms utilize flexibility without paying higher costs.     

A rationale for law of technological substitution

This paper links the popular S-shaped curves often used to represent the path of technological substitution with the evolutionary model of a self-organizing industrial system. In particular, the empirical Fisher-Pry law of technological substitution is given a conceptual rationale by treating technological innovations as structural fluctuations which affect an industry's growth path as defined by a set of non-linear differential equations. In so doing, the paper draws heavily on the articles by Allen and Batten.