A question I think should be asked more in academic marketing research is “how do we define performance?” Lots of people do analysis that aims to show what creates good performance. Still, there is surprisingly little attention paid to what good performance means. What performance outcomes do marketers use? What Performance Outcomes Do Marketers Use?…
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What Is Tobin’s Q Useful For?
I am not a fan of Tobin’s q (as it is currently used). I have a Marketing Science paper on the misuse of Tobin’s q in marketing. As such, I was fascinated to see a SSRN working paper with a very similar title in the field of finance/economics. The authors Robert Bartlett and Frank Partnoy,…
Why Aren’t Academics More Relevant?
Much academic research is not connected to any immediate practical outcomes. This isn’t necessarily bad. Some research can have value to society more broadly or over a longer period. Saying that will happen can be a bit of a cop-out however. ‘This will be extremely valuable a long time after I die so give me…
Big Data And The Academic Practitioner Divide
What do we know about Big Data And The Academic Practitioner Divide? Is there cause for hope? I think so. At least a bit. The Big Divide I find the divide between academics and practitioners fascinating. It is clearly very large. More strangely, I find it amazing how easily many people on both sides accept…
Selling Solutions
The first person who came up with the idea of selling solutions hit on a great idea. Rather than sell their products they would sell what their clients needed. Selling Solutions Can Be A Bit Of A Meaningless Term Unfortunately, it may now be a cliche. Selling solutions is a bit too generic. What was…
The Benefits And Challenges Of Customer Valuation
V. Kumar is probably the most published author in marketing (strategy). (2021 update, he is in the premier journals see here). He was editor of the Journal of Marketing (JM) until recently and is best known for his work in customer-based marketing analysis. In a piece in JM he outlines a number of ideas and…
Successfully Managing At The Marketing Finance Interface
Keith Ward in his great book Marketing Finance addressees success factors in managing at the marketing finance interface. The Future Is What Matters Ward starts by noting that historical analysis can’t change the past. Okay, that is pretty obvious. The implication is important, however. Historical analysis is mostly only useful if it “can be applied to…
Classifying Marketing Investments As Expenses
For this week and next I will look at an excellent book – Marketing Finance – by Keith Ward. He has taught at Cranfield amongst other places. (There are later editions with new co-authors — but reading different editions of the same book too close to each other is a bit too much even for…
Faulty Sums and Accounting
I enjoy a good polemic and Keron Bhattacharya’s book on Accountancy is certainly that. A generation old now but many of the points remain. (Although the acronyms for the UK accounting standards and accounting bodies have all changed). As an accountant himself (member of CIMA) he isn’t very happy with the way accountants were doing…
Marketing, Cash Flow and Shareholder Wealth
Marketers have traditionally been pretty poor at showing why marketing matters to shareholders. In my experience marketers often just assume that marketing is important. They then just expect everyone else to believe it. Instead we really need to consider marketing, cash flow and shareholder wealth and how these fit together. Marketing Impact On The Firm…