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.     

Sarah Elvins. Sales and Celebrations: Retailing and Regional Identity in Western New York State, 1920-1940. Athens, Ohio: Ohio University Press, 2004. 222 pp. ISBN 0-8214-1549-2, $42.95 (cloth).

Elvins’s book is part of a growing body of historicalscholarship that interrogates the lived experience of consumersociety in the twentieth-century United States. Beginning whereWilliam Leach’s Land of Desire (1993) left off, Elvinsseeks to complicate "top-down" narratives of the homogenizationof American consumer culture into a national mass market. Takingher cue from Lizabeth Cohen’s early work on consumptionin Chicago, Elvins examines consumption on the local level in     

Growth in regions

We use a newly assembled sample of 1,528 regions from 83 countries to compare the speed of per capita income convergence within and across countries. Regional growth is shaped by similar factors as national growth, such as geography and human capital. Regional convergence rate is about 2 % per year, comparable to that between countries. Regional convergence is faster in richer countries, and countries with better capital markets. A calibration of a neoclassical growth model suggests that significant barriers to factor mobility within countries are needed to account for the evidence.     

To Fear Foolishness for the Sake of Wisdom: A Message to Leaders

The premise of this paper is that the fear of foolishness is essential to wisdom. Unfortunately, leaders are often conditioned to suppress fear in favor of confidence. However, wise leaders fear foolishness while foolish leaders are fearless. Leaders fall into traps and hit walls that result in fallacies. It is the recognition of these fallacies and the fear of their consequences that compel leaders to seek wisdom. This paper relies on protection motivation theory, the balance theory of wisdom, the imbalance theory of foolishness, and the WICS model of leadership to caution leaders of foolishness so that wisdom can be developed. Specifically, the fear of foolishness is proposed as the motivating factor for the pursuit of wisdom. In doing so, the literatures of wisdom and fear are reviewed and the appraisal process of the fear of foolishness and the coping mechanisms to address foolishness are elaborated on. The protection motivation of the fear of foolishness can fundamentally change leader behaviors and attitudes for the sake of wisdom and individual, organizational, and societal well-being.     

Interpreting value in the customer service experience using customer-dominant logic

Abstract

Traditionally, customer value has been examined from the perspective of the firm. New understandings of customer value from the customer-dominant logic perspective of services emphasise the need to move away from the service-dominant perspective and adopt a customer-based approach that considers value within the broader context of a customer’s lifeworld. This article explores how individual customers make sense of their participation in an extraordinary, commercially-driven consumption experience. A phenomenological approach is taken to understand the lived experience of these participants. The findings of this exploratory study reveal the highly complex nature of value in the experience in the chosen context of luxury driving experience days. Theoretical and managerial implications are discussed.     

Edging out of the nest: emerging adults’ use of smartphones in maintaining and transforming family relationships

Abstract

The transition to adulthood, often accompanied by an emptying of the family nest, has implications for family relationships, identities and consumption practices. Despite this, the voices and experiences of emerging adults are largely missing from literature on family consumption. Emerging adult families typically combine digital natives and digital immigrants, but little is known about how their interactions around digital communications technology relate to emerging adult preoccupations with affiliation and autonomy. This interpretive study explores how emerging adults’ smartphones are bound up with a complex network of family communication and consumption practices, often across household, geographic and generational boundaries. Affiliation and autonomy emerged as intertwined rather than competing dimensions of participants’ smartphone use, contributing to the distribution and development of family as the nest empties.     

A Tale of Three Countries: What is the Relationship Between COVID-19, Lockdown and Happiness?

The COVID-19 pandemic led many governments to implement lockdown regulations to curb the spread of the virus. Though lockdowns do minimise the physical damage caused by the virus, there may also be substantial damage to population well-being. Using a pooled data set, we analyse the relationship between a mandatory lockdown and happiness in three diverse countries: South Africa, New Zealand and Australia. These countries differ amongst others in terms of lockdown regulations and duration. The primary aim is to determine, whether a lockdown is negatively associated with happiness, notwithstanding the characteristics of a country or the strictness of the lockdown regulations. Second, we compare the effect size of the lockdown on happiness between these countries. We use Difference-in-Difference estimations to determine the association between lockdown and happiness and a Least Squares Dummy Variable estimation to study the heterogeneity in the effect size of the lockdown by country. Our results show that a lockdown is associated with a decline in happiness, regardless of the characteristics of the country or the type and duration of its lockdown regulations. Furthermore, the effect size differs between countries in the sense that the more stringent the stay-at-home regulations are, the greater it seems to be.     

Passionate about designing

In the school based subject of design and technology (D&T) a fundamental element is designing and making functional products using critical and creative thinking whilst developing skills in the use of a variety of processes and materials. Teachers of the subject need to be more then just ‘enthusiastic’ about the processes involved if they are to develop enthusiasm in their pupils that will sustain them through the exciting but sometimes arduous and difficult processes required to achieve outcomes of which they and their teachers can be proud. The intention of this research project, using an initial sample of forty-nine students and a non-probability purposive sample of ten students studying to become D&T teachers was to tease out the factors which appear to enable some students to be passionate about creating a product to a given brief while others from similar backgrounds and expectations, given the same brief, and in the same learning situation, do not reach this level of enthusiasm. The data collection method used was an attitude scale and semi-structured interviews which were qualitatively analysed in order to identify factors involved, with the intention of informing and improving the way the authors teach their students, to design, and about design, with the additional aim of improving the students teaching of that activity once they become D&T teachers. Within the full paper results are discussed and tentative conclusions drawn.     

Does Community Participation Produce Dividends in Social Investment Fund Projects?

Social investment funds (SIFs) aim to strengthen local capacity for design, implementation, and maintenance of social and economic infrastructure projects and to increase community participation in ways that will promote their sustainability and effectiveness. We explore key features of recent SIFs, intended to promote decentralized, participatory decision-making, and management of projects, in SIF-led education projects in Honduras. We investigate empirically whether efforts to implement a participatory approach improve the outcomes of these projects and community members’ perceptions of their effectiveness. The findings identify elements of the participatory methodology which were associated with increased household and community participation and better household opinions of the projects and also show a link between participation and the probability of children’s regular school attendance.     

A Note on Farmers' Retirement and Succession Considerations: Evidence from a Household Survey

Retirement and succession considerations of family farm operators in Maryland are considered in this paper. Retirement decisions are found to be mainly determined by personal considerations, and only secondary importance is given to succession considerations. However, the relative importance of succession considerations is positively related to the importance of the farm enterprise relative to other income-generating activities of the family. The conclusion is that retirement and succession decisions in family farms are not separable.