Essays on strategic marketing behavior and its financial performance implications
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| Sprache: | English |
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2016
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| adam_text | Titel: Essays on strategic marketing behavior and its financial performance implications
Autor: Edeling, Alexander
Jahr: 2016
Contents
List of Figures.......................................................................................................................V
List of Tables.......................................................................................................................VI
Synopsis....................................................................................................................................1
1 Overview.........................................................................................................................1
2 Introduction....................................................................................................................2
3 Summary of Dissertation Projects................................................................................5
3.1 Paper 1: Marketing s Impact on Firm Value - Generalizations from a
Meta-analysis............................................................................................................5
3.2 Paper 2: Does Market Share Matter? Insights from 40 Years of Empirical
Research.....................................................................................................................7
3.3 Paper 3: Budget Allocation Decision Methods: Inferences from Actual Firm
Behavior.....................................................................................................................9
References Synopsis...........................................................................................................12
Paper I: Marketing s Impact on Firm Value - Generalizations from a
META-ANALYSIS......................................................................................................................14
Abstract...............................................................................................................................14
1 Introduction..................................................................................................................15
2 Research on Marketing and Finance.........................................................................18
2.1 Marketing Value Chain...........................................i................................................18
2.2 Prior Review Studies...............................................................................................20
3 Description of Database...............................................................................................23
3.1 Scope of Study.........................................................................................................23
3.2 Database Compilation..............................................................................................23
3.3 Database Scope........................................................................................................24
4 Research Framework...................................................................................................25
4.1 Advertising Expenditures vs. Marketing Assets......................................................27
4.2 Brand-Related vs. Customer-Related Marketing Assets.........................................33
4.3 Industry Concentration............................................................................................34
4.4 Recession.................................................................................................................35
4.5 Type of Firm-Value Variable..................................................................................35
4.6 Interaction Effects....................................................................................................35
5 Research Method..........................................................................................................36
5.1 Data Coding.............................................................................................................36
5.2 Meta-Analytic Model and Estimation.....................................................................37
6 Results...........................................................................................................................38
6.1 Descriptive Analysis................................................................................................38
6.1.1 Overview...........................................................................................................38
6.1.2 Advertising-expenditure elasticities..................................................................39
6.1.3 Marketing-asset elasticities................................................................................40
6.1.4 Model-free evidence..........................................................................................41
6.2 Overview of Meta-Analytic Results........................................................................44
6.3 Estimation Results of the Advertising-Expenditures Model...................................44
6.4 Estimation Results of the Marketing-Assets Model................................................48
6.5 Additional Analyses and Robustness Checks..........................................................50
6.5.1 Analysis of positive and negative elasticities....................................................50
6.5.2 Outlier-robust analysis.......................................................................................50
6.5.3 Method-corrected effect sizes............................................................................
6.5.4 Further robustness and collinearity checks........................................................51
7 Discussion......................................52
7.1 Substantive Implications for Managers and Researchers........................................52
7.1.1 Marketing value chain.......................................................................................52
7.1.2 Managing marketing assets...............................................................................53
7.1.3 Managing advertising expenditures...................................................................54
7.1.4 Competition and economic recession................................................................54
7.1.5 Implications for structural modelers..................................................................55
7.2 Methodological Implications...................................................................................56
7.2.1 Temporal aggregation........................................................................................56
7.2.2 Type of dependent variable...............................................................................56
7.2.3 Inclusion of control variables............................................................................57
7.2.4 Accounting for endogeneity..............................................................................57
7.3 Limitations and Directions for Future Research......................................................58
References Paper ..............................................................................................................60
Appendix Paper ................................................................................................................64
Appendix A: Elasticity Calculation Procedure................................................................64
Appendix B: Comparisons of Firm-Value and Sales Elasticities....................................67
Appendix C: Studies Used in the Meta-Analysis.............................................................69
Appendix D: Weighted Least Squares and Least Absolute Deviation Results................74
References Appendix Paper 1...........................................................................................76
Paper 2: Does Market Share Matter? Insights from 40 Years of Empirical
Research................................................................................................................................83
Abstract...............................................................................................................................83
1 Introduction..................................................................................................................84
2 Theoretical Framework of the Market-Share Profitability Relationship...............89
2.1 Advantages of High Market Share..........................................................................89
2.1.1 Supply-side advantages.....................................................................................89
2.1.2 Demand-side advantages...................................................................................90
2.2 Disadvantages of High Market Share......................................................................90
2.2.1 Supply-side disadvantages.................................................................................90
2.2.2 Demand-side disadvantages..............................................................................92
2.3 Functional Form of the Relationship.......................................................................92
2.4 Feedback Effect.......................................................................................................93
3 Moderating Variables Included in Meta-Analysis....................................................93
3.1 Overview..................................................................................................................93
3.2 Substantive Drivers..................................................................................................99
3.2.1 Business type.....................................................................................................99
3.2.2 Product type.......................................................................................................99
3.2.3 Geographic setting.............................................................................................99
3.2.4 Time trend.....................................................................................................100
3.2.5 Recession.......................................................................................................101
4 Methodology.............................................................................................................101
4.1 Scope of Study............................................................................................101
4.2 Database Compilation................................................................................102
4.3 Database Scope.............................................................................................................103
4.4 Data Coding......................................................................................103
4.5 Meta-Analytic Model and Estimation...................................................................104
5 Results.........................................................................................................................104
5.1 Descriptive Analyses.............................................................................................104
5.1.1 Univariate statistics..........................................................................................104
5.1.2 Model-free evidence........................................................................................105
5.2 Hierarchical Linear Model Results........................................................................108
5.2.1 Substantive drivers..........................................................................................109
5.2.2 Research design characteristics.......................................................................110
5.2.3 Publication-related drivers...............................................................................111
5.3 Additional Analyses and Robustness Checks........................................................112
5.3.1 Method-corrected effect size...........................................................................112
5.3.2 Interaction effects............................................................................................112
5.3.3 Temporal patterns in the market-share profitability relationship....................113
5.3.4 Comparison with marginal-effects results.......................................................114
5.3.5 Further robustness checks................................................................................115
6 Discussion and Implications......................................................................................116
6.1 Managerial Implications........................................................................................119
6.2 Implications for Researchers.................................................................................120
6.3 Limitations and Suggestions for Future Research.................................................121
References Paper 2...........................................................................................................123
Appendix Paper 2.............................................................................................................128
Appendix A: Inclusion vs. Exclusion of Studies Used in Szymanski, Bharadwaj,
and Varadarajan (1993)..................................................................................................128
Appendix B: Studies Used in the Meta-Analytic Regression Model.............................130
Appendix C: Additional Regression Results..................................................................132
References Appendix Paper 2.........................................................................................134
Paper 3: Budget Allocation Decision Methods: Inferences from Actual
Firm Behavior....................................................................................................................138
Abstract.............................................................................................................................138
1 Introduction................................................................................................................139
2 Relevant Literature Streams.....................................................................................141
2.1 Normative Studies-How Should Firms Set Their Marketing Budgets?..............141
2.2 Descriptive Studies - How Do Firms Set Their Marketing Budgets?...................141
3 Conceptualization of Budget Allocation Methods...................................................143
3.1 The Organizational Budget Allocation Process.....................................................143
3.2 Normative Approaches..........................................................................................145
3.2.1 Exact methods..................................................................................................145
3.2.2 Elasticity (Dorfman-Steiner) method..............................................................145
3.2.3 Heuristics based on optimization.....................................................................146
3.3 Strategic Resource Allocation Tools.....................................................................146
3.3.1 Product life cycle concept................................................................................146
3.3.2 BCG matrix......................................................................................................146
3.4 Practitioner (Textbook) Heuristics........................................................................147
3.4.1 Percentage-of-sales method.............................................................................147
3.4.2 Competitive-parity method..............................................................................147
3.4.3 Affordability method.......................................................................................147
3.4.4 Objective-and-task method..............................................................................148
3.5 Specification of Budget Allocation Model............................................................148
4 Potential Covariates of Method Selection................................................................150
4.1 Organizational Covariates............................................................................152
4.1.1 Business division size...................................................................................152
4.1.2 Type of firm ownership..............................................................................152
4.1.3 Firm M A intensity................................................................................153
4.1.4 Innovativeness.........................153
4.1.5 Product portfolio age....................................................................................154
4.1.6 Product portfolio size...................................................................................154
4.2 Market Covariates................154
4.2.1 Market growth...................154
4.2.2 Market concentration............................................................155
5 Method..................155
5.1 Data and Variable Operationalization..................................................155
5.2 Empirical Estimation Model.............................................................................161
5.3 Multinomial Logit Model of Method Choice......................................................162
6 Estimation and Results..............................................................................................163
6.1 Model-Free Evidence.,...........................................................................................163
6.2 Estimation..............................................................................................................164
6.2.1 Instrumentation of long-term marketing elasticity..........................................164
6.2.2 Estimation procedure....................................................................................165
6.2.3 Multicollinearity..............................................................................................166
6.3 Latent-Class Regression Results............................................................................166
6.3.1 Model selection and model overview..............................................................166
6.3.2 Prevalence of budget allocation decision methods..........................................167
6.3 .3 Multinomial logit model results......................................................................169
6.3.4 Budget-allocation methods of multidivisional firms.......................................171
6.3.5 Control variables..............................................................................................172
6.4 Robustness Checks................................................................................................173
7 Discussion....................................................................................................................174
7.1 Implications for Researchers.................................................................................174
7.1.1 Implications for descriptive budgeting research..............................................174
7.1.2 Implications for normative budgeting research and structural modelers........176
7.2 Implications for Practitioners................................................................................176
7.3 Limitations and Further Research..........................................................................177
References Paper 3...........................................................................................................179
Appendix Paper 3.............................................................................................................183
Appendix A: Formalization of Budget Allocation Methods..........................................183
Appendix B: Correlation Matrix of Selected Variables.................................................188
Appendix C: Probability Structure of Latent-Class Regression Model.........................189
Appendix D: Classes Identified in the Unrestricted Latent-Class Model......................189
EIDESSTAATLICHE ERKLARUNG..........................................................................VII
Curriculum Vitae...........................................................VIII
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| language | English |
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| spellingShingle | Edeling, Alexander Essays on strategic marketing behavior and its financial performance implications Marktanteil (DE-588)4037625-4 gnd Kommunikationspolitik (DE-588)4232471-3 gnd Zero-base budgeting (DE-588)4190749-8 gnd Marketingmanagement (DE-588)4168907-0 gnd Wertzuwachs (DE-588)4189719-5 gnd Budgetierung (DE-588)4214154-0 gnd |
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| title | Essays on strategic marketing behavior and its financial performance implications |
| title_auth | Essays on strategic marketing behavior and its financial performance implications |
| title_exact_search | Essays on strategic marketing behavior and its financial performance implications |
| title_full | Essays on strategic marketing behavior and its financial performance implications vorgelegt von Diplom-Kaufmann Alexander Edeling |
| title_fullStr | Essays on strategic marketing behavior and its financial performance implications vorgelegt von Diplom-Kaufmann Alexander Edeling |
| title_full_unstemmed | Essays on strategic marketing behavior and its financial performance implications vorgelegt von Diplom-Kaufmann Alexander Edeling |
| title_short | Essays on strategic marketing behavior and its financial performance implications |
| title_sort | essays on strategic marketing behavior and its financial performance implications |
| topic | Marktanteil (DE-588)4037625-4 gnd Kommunikationspolitik (DE-588)4232471-3 gnd Zero-base budgeting (DE-588)4190749-8 gnd Marketingmanagement (DE-588)4168907-0 gnd Wertzuwachs (DE-588)4189719-5 gnd Budgetierung (DE-588)4214154-0 gnd |
| topic_facet | Marktanteil Kommunikationspolitik Zero-base budgeting Marketingmanagement Wertzuwachs Budgetierung Hochschulschrift |
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