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Organizing for Marketing Excellence (7 key Marketing activities (Alignment…

- - - - Future research priorities: What is the nature of new capabilities in digital marketing, socialmedia, and marketing analytics? How do marketing leaders measure marketing capabilities? How do ﬁrms use training to build capabilities?
      - What are Mk capabilities:
        
        market detection and knowledge mk capabilities, adding market orientation as the process of generating, disseminating and responding to mk intelligence
        
        Relational mk, customer relationship management, acquiring and retaining valuable customers, managing channel partnerships
        
        Management of the brand asset
        
        Strategic mk planning and implementation
        
        Capabilities related with mk mix (pricing, product line management , mk communication and sales)
      - How Are Marketing Capabilities Measured?
        
        Researchers measure ﬁrm spending to capture capabilities. Mizik and Jacobson (2003) measure research and development and selling, general and administrative spending to acquire a firm's capabilities for value creation and or value appropriation
        
        Researchers measure the effects of marketing actions to reﬂect capabilities. Moorman and Slotegraff (1999) measure a company's mk capability by its market share. Johnson, Sohi, and Grewal (2004) measure a company's relational capability by the effect of its relational knowledge stores on relational outcomes
        
        Third, scholars examine the efﬁciency with which a ﬁrm converts resource inputs into performance outcomes, for example, mk spending into sale (Dutta, Narasimhan, and Surendra 1999).
        
        A key informant approach uses knowledgeable and experienced managers to judge or describe their firms. Benchmarking solicitates to informants give evaluation of mk capabilities relative to competitors (Vorhies and Morgan, 2005).
      - What Is the Contribution of Marketing Capabilities to Firm Performance?
        Kirca, Jayachandran, and Bearden’s (2005) meta-analysis concludes that capabilities related to market orientation have a direct positive effect on ﬁnancial, customer, innovation, and employee consequences.
  - - - Future research priorities: Are the contributions of the marketing function to ﬁrm performance generalizable to businesses in developed and emerging economies and to businesses of all sizes and sectors? How are metrics used in combination to make marketing decisions? What methods offer an accurate and complete view of marketer misbehaviors in different roles? Does the presence of a CMO inﬂuence the value of a ﬁrm’s market based assets, including customer equity, brand equity, and knowledge?
      - What is configuration:
        configuration describes the organizational environment within which marketing capabilities are exercised and culture is activated.
      - Metrics
        
        -Mintz and Currim (2013) affirm that companies use more mk metrics than finantial metrics.
        -The most common used mk metrics are: awareness, total customers and market share.
        -The most commonly finantial metrics are: total volume (units or sales), return on investment and net profits
        -Specific metrics used: customer satisfaction metrics, scanner data metrics, mindset metrics.
        Does the Use of Metrics Contribute to Firm Performance?
        -There is a positive effect of the number of marketing and ﬁnancial metrics used by a ﬁrm on its marketing mix, also customer outcomes and profitability
        -The use of strong mk performance measurement system anticipate firm performance and chief executive officer satisfaction and return on assets and stock returns
      - Organizational Structures
        
        -Does the Marketing Function Contribute to Firm Performance?
        Multiple autors (Homburg et al, Moorman and Rust, Ferg, Morgan and Rego) support that strong mk function contributes to firm value
        -How Does the Marketing Function Contribute to Firm Performance?
        Customer connecting activities, involvement in key firm decisions, doing critical mk activities, as well as market orientation activities, contribution to firm capabilities to creation of long term assets based in market and short term based asset leveraging
      - Incentives and controls
        
        -Controls and incentives build agents' behavior to align with principals
        -How Should Marketing Agents Be Aligned for Firm Performance?
        broader control system to ensure that an agent acts in the ﬁrm’s best interest, and it includes ex ante and ex post control strategies. Formal controls, (on inputs, process, and outputs) and informal controls (related to self, social, professional and cultural factors), process versus outcome controls, and behavior-based versus outcome-based controls. On the other hand, there are reward structures; including individual versus group rewards and single-period versus multiperiod rewards
  - - - Future research priorities: What skills does the marketer of the future need? How does training affect outcomes such as sales force hiring and turn over?
      - What is human capital:
        Esential part of the creation, implementation and evaluation of the mk strategy
        -Mk leaders and employees are important operatives for marketing's contribution
        -How Do Marketing Leaders Improve Firm Performance?
        -Leaders perform an esential role in firm by stimulating an employee-organizational identiﬁcation process and making easy employee internalization of the ﬁrm’s brand identity
  - - - Future research priorities: What additional cultural values, behaviors, and artifacts play important roles in marketing strategies?
      - What is culture:
        According to Deshpand´e and Webster (1989) culture is “the pattern of shared values and beliefs that help individuals understand organizational functioning and that provide norms for behavior”.
        -How Is Organizational Culture Measured in Marketing?
        Most research has used surveys, for example, Tellis, Prabhu, and Chandy (2009) used a large scale survey to measure six cultural attitudes and behaviors.