 Subjects -> ADVERTISING AND PUBLIC RELATIONS (Total: 23 journals)
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- Brands: An Integrated Marketing, Finance, and Societal Perspective
- Abstract: AbstractThe traditional tension between marketing and finance reflects the fact that marketing is more consumer facing and finance is more management and capital markets facing. The difference in perspective between the two is further widened by differences in the marketing and finance disciplines as well as among accountants, psychologists, and economists in the understanding of brands. An attempt is made to integrate and reconcile these perspectives into an account of how brands can play a vital role in the firm as a whole. With this goal in sight, evidence is reviewed on (1) the power of brands to create real added value for consumers (rather than conceal a lack of product information), (2) the complexities of accounting for the financial value of brands, (3) the relation of brand value to stock returns, (4) the need for methods of evaluating brands (beyond traditional marketing brand equity metrics and financial accounting valuations), (5) how brand value can be reported (since it cannot be included in financial statements), and (6) the expansion of brands to address societal problems through brand purpose coupled with brand engagement as a solution to the problem of firms devoting resources to stakeholders other than consumers without decreasing shareholder value.Suggested CitationBobby J. Calder (2020), "Brands: An Integrated Marketing, Finance, and Societal Perspective", Foundations and Trends® in Marketing: Vol. 14: No. 4, pp 237-316. http://dx.doi.org/10.1561/1700000064
PubDate: Mon, 16 Nov 2020 00:00:00 +010
- Machine Learning in Marketing: Overview, Learning Strategies,
Applications, and Future Developments- Abstract: AbstractThe widespread impacts of artificial intelligence (AI) and machine learning (ML) in many segments of society have not yet been felt strongly in the marketing field. Despite such shortfall, ML offers a variety of potential benefits, including the opportunity to apply more robust methods for the generalization of scientific discoveries. Trying to reduce this shortfall, this monograph has four goals. First, to provide marketing with an overview of ML, including a review of its major types (supervised, unsupervised, and reinforcement learning) and algorithms, relevance to marketing, and general workflow. Second, to analyze two potential learning strategies for marketing researchers to learn ML: the bottom-up (that requires a strong background in general math and calculus, statistics, and programming languages) and the top-down (focused on the implementation of ML algorithms to improve explanations and/or predictions given within the domain of the researcher’s knowledge). The third goal is to analyze the ML applications published in top-tier marketing and management journals, books, book chapters, as well as recent working papers on a few promising marketing research sub-fields. Finally, the last goal of the monograph is to discuss possible impacts of trends and future developments of ML to the field of marketing.Suggested CitationVinicius Andrade Brei (2020), "Machine Learning in Marketing: Overview, Learning Strategies, Applications, and Future Developments", Foundations and Trends® in Marketing: Vol. 14: No. 3, pp 173-236. http://dx.doi.org/10.1561/1700000065
PubDate: Mon, 31 Aug 2020 00:00:00 +020
- Crowdfunding Platforms: Ecosystem and Evolution
- Abstract: AbstractCrowdfunding is the practice of seeking support from a large number of backers, each funding a small amount, in order to reach a specific funding goal. This monograph examines: (1) the field of crowdfunding, (2) how it has evolved, (3) the impact crowdfunding has on the fields of innovation, marketing and finance and (4) the factors that can affect crowdfunding outcomes.We view crowdfunding as complementary and transformative, increasing the efficiency of several existing processes such as idea generation and testing, fund raising and collection. We combine practitioner perspectives and research findings to provide insights on this subject. We explore the crowdfunding ecosystem and the role that project creators, backers and the platform play in the entire crowdfunding process.We provide a comprehensive review of current academic research in crowdfunding that focus on three key components of the crowdfunding process: (1) project design and description, (2) project creator and backer characteristics and (3) platform design and architecture, and explore how different properties of these crowdfunding components impact the crowdfunding process and affect crowdfunding outcomes.We further provide an overview of new developments in crowdfunding (such as new crowdfunding models) and suggest trends (such as privacy issues) that may shape the crowdfunding ecosystem in the future.Suggested CitationYee Heng Tan and Srinivas K. Reddy (2020), "Crowdfunding Platforms: Ecosystem and Evolution", Foundations and Trends® in Marketing: Vol. 14: No. 2, pp 53-172. http://dx.doi.org/10.1561/1700000061
PubDate: Wed, 01 Jul 2020 00:00:00 +020
- A Practical Approach to Sales Compensation: What Do We Know Now' What
Should We Know in the Future'- Abstract: AbstractPersonal selling represents one of the most important elements in the marketing mix, and appropriate management of the sales force is vital to achieving the organization’s objectives. Among the various instruments of sales management, compensation plays a pivotal role in motivating and incentivizing sales agents. This monograph reviews the evolution of research in sales compensation and discusses future trends and opportunities. Specifically, it examines the managerial relevance of the theoretical foundations, discussing the underlying reasons for their applicability (or lack thereof) in practice. Furthermore, the monograph surveys recent empirical methods—including field experiments and structural econometrics—that are practical for analyzing sales agents’ behavior under various compensation systems. It also discusses prominent areas of future research in the midst of a changing sales environment. In particular, this monograph sheds light on how the use of big data, machine learning, and artificial intelligence can affect sales strategy formulation and, thus, sales compensation systems to better motivate and incentivize an organization’s sales force.Suggested CitationDoug J. Chung, Byungyeon Kim and Niladri B. Syam (2020), "A Practical Approach to Sales Compensation: What Do We Know Now' What Should We Know in the Future'", Foundations and Trends® in Marketing: Vol. 14: No. 1, pp 1-52. http://dx.doi.org/10.1561/1700000063
PubDate: Thu, 04 Jun 2020 00:00:00 +020
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