Springer Science and Business Media LLC

Drawing on the resource-based view of the firm, this study addresses the dynamic capability-generating capacity of market orientation on firm performance. Whereas prior literature has examined environmental turbulence as a contextual condition shaping the market orientation-firm performance relationship, this study takes an internal approach by focusing on existing stocks of resources within the firm while controlling for environmental conditions. A conceptual model is developed that explains how market orientation can be transformed into dynamic capability when complemented by transformational (reconfig-urational) constructs, such as innovativeness. The empirical results support the authors— theory that the effect of market orientation on firm performance is strengthened when market orientation is bundled together with internal complementary resources, such as innovativeness. The authors discuss the findings in the context of varying stages of the product life cycle and at different levels of market development.

Extant communication theories predate the explosion of digital formats and technological advances such as virtual reality, which likely explains their predominant focus on traditional and format-level (e.g., face-to-face, email) rather than digital or characteristic-level (e.g., visual cues, synchronicity) design decisions. Firms thus lack insights into how to create and use emerging digital formats, individually or synergistically. To establish a holistic framework of bilateral multiformat communication for relationship marketing, this article reviews communication theory to establish a foundation for understanding multiformat communication and to identify any gaps (e.g., AI agents, simulated cues). The authors then review bilateral communication research in light of the identified theoretical gaps, to inform their framework. Finally, by decomposing these formats according to six fundamental characteristics, they predict how each characteristic might promote effective, efficient, and experiential communication goals, in light of distinct message, temporal, and dyadic factors. Ultimately, these combined insights reveal an overarching framework, with characteristic-level propositions grouped into five key themes, that can serve as a platform for academics and managers to develop multiformat communication theory and relationship strategies.

Using an experimental method, this study found that when a commercial was viewed immediately following a high-violence dramatic programming segment, children’s ad copy recognition scores were significantly lower and attitudes toward the ad and the advertised brand were significantly less favorable than when the commercial was viewed following a low-violence (but otherwise near-identical) program segment. The influence of program violence level on some advertising response measures was more pronounced when the commercial was positioned immediately following the dramatic programming segment than when immediately preceding it. The study cautions advertisers to examine carefully whether, in reaching for high audience ratings and cost efficiency through violent television programs, they may be sacrificing communication effectiveness of their brand advertising.

A narrative review is presented, within the organizing framework of a meta-analysis, of econometric models reported in the business literature that estimate the effect of advertising and promotional spending on the market value of the firm. Results from published market valuation models are aggregated, and various model specifications are appraised. In brief the meta-analysis finds support for a positive relationship between levels of advertising and promotional spending and the market value of the firm. That is, marketing activities (represented here by observed advertising and promotions spending) are generally expected to deliver future cashflows and produce increases in shareholder wealth. The review seeks to enhance understanding among the community of marketing scholars of the properties of market valuation models published in the literature and serves as a springboard for ongoing investigation of a crucial question for marketing theory and practice.

Recent technological advancements allow companies to incorporate increasingly heterogeneous and interrelated features into their products, which heightens the products’ complexity. In four experimental studies conducted with two product categories, this article reveals similarities and differences in terms of how the heterogeneity and interrelatedness of product features influence consumer attitudes (i.e., expected product usability and capability) and, in turn, purchase intentions. Moreover, it shows that both neglected dimensions of product complexity affect the corresponding influence of the number of product features but do so in considerably different ways. The findings suggest that companies can foster consumer adoption by deemphasizing a product’s feature heterogeneity, thereby avoiding low expected product usability, and by emphasizing its feature interrelatedness, thereby promoting high expected product capability. This article provides insights into how companies can manage the complexity of products during both product design (i.e., before market launch) and product advertising and selling (i.e., after market launch).

A re-evaluation of the marketing concept appears to be in the making. The focus of research designed to facilitate this re-evaluation is likely to be of considerable importance to the future development of marketing theory. Research designed to better define the role and scope of the marketing concept seems to offer the most promise. Such research would be an aid to determining where the marketing concept should fit into a comprehensive theory of marketing. Limitations of the marketing concept are well documented in the literature suggesting a need for a broader framework of marketing theory. It seems imperative that academicians accept the responsibility for developing a more comprehensive general theory of marketing, one relevant to both the micro and macro aspects of a functioning system. Such flexibility seems to be a minimal requirement.

Studying product variety is an interesting and relevant area for research. Work in this area should build on careful understanding of both customers’ reactions to it and managers’ decision making with respect to it. This requires an interdisciplinary focus, drawing on work in information processing, channels, operations management, game theory, and managerial decision making. In fact, the major advances may come more from combining knowledge from the different areas rather than boring more deeply into a single one.

The authors propose a framework for understanding key mechanisms that shape satisfaction in individual encounters, and loyalty across ongoing exchanges. In particular, the framework draws together two distinct approaches: (1) agency theory, rooted in the economic approach, that views relational exchanges as encounters between principals (consumers) and agents (service providers) and (2) trust research that adopts a psychological approach toward consumer-provider relationships. In so doing, the authors specify how trust mechanisms cooperate and compete with agency mechanisms to affect satisfaction in individual encounters and influence loyalty in the long run. Because a multidimensional conceptualization of trust is used, the hypothesized framework offers a fine-grained understanding of the interrelated mechanisms. The high level of specificity allows extraction of multiple propositions, facilitates empirical testing, and encourages theoretical development of the proposed model. Several directions to guide future research are provided.

The purpose of this study is to examine the relationship between voluntary sustainability reporting and firm value, as measured by Tobin’s q. We test three main hypotheses developed from signaling theory and the sustainability reporting literature on a large panel of reporting and non-reporting organizations for the period 2011–2020. The results of a fixed effects panel model suggest that, in general, sustainability reporting is negatively related to Tobin’s q. However, the results also indicate that the relationship between sustainability reporting and Tobin’s q becomes increasingly positive over time. Our conclusion is that sustainability reporting is initially a costly signal, but that it eventually enhances firm value as companies learn how to better communicate sustainability initiatives to stakeholders and investors learn how to properly evaluate reports. Finally, in an analysis of sustainability reporting organizations, we find that external assurance is positively associated with Tobin’s q. External audits appear to increase the credibility of reports. Implications for marketing theory and practice are discussed.