Theories of Marketing
,Literature
Topic 1: Overview of development in marketing thinking
Marketing origins
• Narver&Slater (1990), The effect of a market orientation on business profitability, journal of
marketing, October 1990
• Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two, strategic management journal, 19,
p1001–1006
Current developments in marketing thinking
• Achrol &Kotler (2012), Frontiers of the marketing paradigm in the third millennium, Journal of the
Academy Marketing Science, vol 40:35–52
• Homburg, Jozić&Kuehnl (2017), Customer experience management: toward implementing an
evolving marketing concept, Journal of the Academy of Marketing Science, 45, p377–401
Required pre knowledge about marketing strategy:
• Robert J. Dolan (2014), Marketing Reading: Framework for Marketing Strategy Formation, Online
product on Harvard Business Press. P1 – p13 are mandatory for this course.
Please order a copy if this is not familiar knowledge!! At: https://hbsp.harvard.edu/import/799894
Topic 2: Consumer Insights & motivations
Consumer insights & value
• Laughlin, P. (2014), Holistic customer insight as an engine of growth, Journal of Direct, Data and
Digital Marketing Practice, 16(2), 75-79.
• Van den Driest, F., Sthanunathan, S., & Weed, K. (2016). Building an insights engine. Harvard
business review, 94(9), 64-74.
Means-end chains in marketing
• Pai, P., & Arnott D.C. (2013), User adoption of social networking sites: Eliciting uses and
gratifications through a means–end approach, Computers in Human Behavior, 29 (3), 1039-1053.
• Magids, S., Zorfas, A., & Leemon, D. (2015), The new science of customer emotions, Harvard
Business Review, 93(11), 66-76.
Topic 3: Value equity & innovation
Value perception & delivery
• Almquist, Senior and Bloch (2016), The Elements of Value Measuring—and delivering—what
consumers really want, Harvard Business Review, September, 47-53
• Day (2011), Closing the Marketing Capabilities Gap, Journal of Marketing, Vol. 75 (July), 183–195
• Lemon,Rust& Zeithaml (2001). What drives customer equity? Marketing Management 10 (1), p20
Value innovation
• Edelman& Singer (2015), Competing on customer journeys, Harvard business review, Vol.93(11),
pp. 88-100
• Kim & Mauborgne (2005), Blue Ocean Strategy: FROM THEORY TO PRACTICE. California
Management Review, 47 (3), 105-121.
• Burke,Stel&Thurik (2010), Blue Ocean vs. Five Forces, Harvard business review, may 2010 (1
page).
To understand blue oceans better, take a look at the video materials for week 3 and/or the following publications:
• Kim & Mauborgne (2015), (Links to an external site.) Red Ocean Traps The mental models that
undermine market-creating strategies, Harvard business review, Vol.93(3), pp. 68-73
• Kim& Mauborgne (2004) (Links to an external site.), Blue ocean strategy, Harvard Business
Review 82 (10): 76-84.
Topic 4: Consumer behavior
Conceptual overview of behavior modification in marketing
• Nord, W. R., & Peter, J. P. (1980). A behavior modification perspective on marketing. Journal of
Marketing, 44(2), 36-47.
• Wells, V.K. (2014), Behavioural psychology, marketing and consumer behaviour: a literature
review and future research agenda, Journal of Marketing Management, 30 (11-12), 1119-1158.
,o Focus on the sections:
o ‘Classical conditioning in marketing and consumer behaviour research’ and
o ‘Operant/instrumental conditioning in marketing and consumer behaviour research.’ Do
not worry about the (endless) Tables
Contemporary applications of behavioral theories in marketing
• Gelbrich, K., Gäthke, J., & Hübner A. (2017), Rewarding customers who keep a product: How
reinforcement affects customers' product return decision in online retailing, Psychology &
Marketing, 34, 853–867.
• Chen, Y., Wang, Q., & Xie, J. (2011). Online social interactions: A natural experiment on word of
mouth versus observational learning. Journal of marketing research, 48(2), 238-254.
Topic 5: Brand & relationship equity
Brand equity
• Dwivedi, Merrilees&Sweeney (2010), Brand extension feedback effects: a holistic framework,
Journal of Brand Management,17, 328 – 342.
• Hsu, L., Fournier, S., & Srinivasan, S. (2016). Brand architecture strategy and firm value: how
leveraging, separating, and distancing the corporate brand affects risk and returns. Journal of the Academy of Marketing
Science, 44(2), 261–280.
o Focus on the argumentation part about the differences between the architecture options
and the pro's and con's of each (page 261-268) and the conclusion (page 276-278). Do not focus on the data and specific
outcomes.
If you are interested in Brand Portfolio and Architecture considerations and decisions, take a look at these 10 steps as proposed
by the brand strategy master David Aaker.
Relationship equity and customer equity
o Watson, Beck, Henderson & Palmatier (2015), Building, measuring, and profiting from
customer loyalty Building, Journal of the Academy of Marketing Science, Vol.43(6), pp.790-
825
o Hsieh, Chiu& Chiang (2005), maintaining a committed online customer: A study across
search-experience-credence products, Journal of Retailing, Vol.81(1), pp.75-82
o Silveira, C., Oliveira, M. and Luce, F. (2017), Comparing alternative approaches to estimate
customer equity, Marketing Intelligence & Planning, Vol. 35 No. 5, pp. 611-625.
Lecture
Article
Video Clip
, Topic 1
Lecture 1 – Monday Feb 1 2020: Introduction to the course
What is Marketing?
- functions and processes/activities to deliver customer value
- a business philosophy → a way to approach the market
Marketing definitions AMA
Two main marketing decisions
- segmentation – understanding consumers
- value differentiation – creating customer value
The origins of current marketing thinking:
- these days quality is not the success/value driver in businesses anymore
- what makes a company successful? —> marketing (a way to approach the market in order to develop customer value
History of the business philosophy
- marketing first mentioned in the 1900s during production era and it referred to the transition to mass production and taking
produce to the market (getting produce from A to B in an efficient manner); everything related to logistics.
- As time went by, it started referred to selling rather than logistics, it started being all about what is better about a product,
driven by the context.
- 1980s we started thinking around, started listening to what the consumers want that they aren’t served with in order to be
better than the competitors, starting the concept of marketing
Marketing definitions:
1985 –> definition still about the distribution of goods, getting in more transaction and selling the product that you liked
(success more about market share)
2012 –> definition about bringing value to customer and creating a relationship (success more about the share of wallet, loyalty)
Context still changing, now there is a need to take the environment and the society in consideration.
Main marketing decisions:
- segmentation: understanding consumers
- value differentiation: creating customer value
,Literature
Topic 1: Overview of development in marketing thinking
Marketing origins
• Narver&Slater (1990), The effect of a market orientation on business profitability, journal of
marketing, October 1990
• Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two, strategic management journal, 19,
p1001–1006
Current developments in marketing thinking
• Achrol &Kotler (2012), Frontiers of the marketing paradigm in the third millennium, Journal of the
Academy Marketing Science, vol 40:35–52
• Homburg, Jozić&Kuehnl (2017), Customer experience management: toward implementing an
evolving marketing concept, Journal of the Academy of Marketing Science, 45, p377–401
Required pre knowledge about marketing strategy:
• Robert J. Dolan (2014), Marketing Reading: Framework for Marketing Strategy Formation, Online
product on Harvard Business Press. P1 – p13 are mandatory for this course.
Please order a copy if this is not familiar knowledge!! At: https://hbsp.harvard.edu/import/799894
Topic 2: Consumer Insights & motivations
Consumer insights & value
• Laughlin, P. (2014), Holistic customer insight as an engine of growth, Journal of Direct, Data and
Digital Marketing Practice, 16(2), 75-79.
• Van den Driest, F., Sthanunathan, S., & Weed, K. (2016). Building an insights engine. Harvard
business review, 94(9), 64-74.
Means-end chains in marketing
• Pai, P., & Arnott D.C. (2013), User adoption of social networking sites: Eliciting uses and
gratifications through a means–end approach, Computers in Human Behavior, 29 (3), 1039-1053.
• Magids, S., Zorfas, A., & Leemon, D. (2015), The new science of customer emotions, Harvard
Business Review, 93(11), 66-76.
Topic 3: Value equity & innovation
Value perception & delivery
• Almquist, Senior and Bloch (2016), The Elements of Value Measuring—and delivering—what
consumers really want, Harvard Business Review, September, 47-53
• Day (2011), Closing the Marketing Capabilities Gap, Journal of Marketing, Vol. 75 (July), 183–195
• Lemon,Rust& Zeithaml (2001). What drives customer equity? Marketing Management 10 (1), p20
Value innovation
• Edelman& Singer (2015), Competing on customer journeys, Harvard business review, Vol.93(11),
pp. 88-100
• Kim & Mauborgne (2005), Blue Ocean Strategy: FROM THEORY TO PRACTICE. California
Management Review, 47 (3), 105-121.
• Burke,Stel&Thurik (2010), Blue Ocean vs. Five Forces, Harvard business review, may 2010 (1
page).
To understand blue oceans better, take a look at the video materials for week 3 and/or the following publications:
• Kim & Mauborgne (2015), (Links to an external site.) Red Ocean Traps The mental models that
undermine market-creating strategies, Harvard business review, Vol.93(3), pp. 68-73
• Kim& Mauborgne (2004) (Links to an external site.), Blue ocean strategy, Harvard Business
Review 82 (10): 76-84.
Topic 4: Consumer behavior
Conceptual overview of behavior modification in marketing
• Nord, W. R., & Peter, J. P. (1980). A behavior modification perspective on marketing. Journal of
Marketing, 44(2), 36-47.
• Wells, V.K. (2014), Behavioural psychology, marketing and consumer behaviour: a literature
review and future research agenda, Journal of Marketing Management, 30 (11-12), 1119-1158.
,o Focus on the sections:
o ‘Classical conditioning in marketing and consumer behaviour research’ and
o ‘Operant/instrumental conditioning in marketing and consumer behaviour research.’ Do
not worry about the (endless) Tables
Contemporary applications of behavioral theories in marketing
• Gelbrich, K., Gäthke, J., & Hübner A. (2017), Rewarding customers who keep a product: How
reinforcement affects customers' product return decision in online retailing, Psychology &
Marketing, 34, 853–867.
• Chen, Y., Wang, Q., & Xie, J. (2011). Online social interactions: A natural experiment on word of
mouth versus observational learning. Journal of marketing research, 48(2), 238-254.
Topic 5: Brand & relationship equity
Brand equity
• Dwivedi, Merrilees&Sweeney (2010), Brand extension feedback effects: a holistic framework,
Journal of Brand Management,17, 328 – 342.
• Hsu, L., Fournier, S., & Srinivasan, S. (2016). Brand architecture strategy and firm value: how
leveraging, separating, and distancing the corporate brand affects risk and returns. Journal of the Academy of Marketing
Science, 44(2), 261–280.
o Focus on the argumentation part about the differences between the architecture options
and the pro's and con's of each (page 261-268) and the conclusion (page 276-278). Do not focus on the data and specific
outcomes.
If you are interested in Brand Portfolio and Architecture considerations and decisions, take a look at these 10 steps as proposed
by the brand strategy master David Aaker.
Relationship equity and customer equity
o Watson, Beck, Henderson & Palmatier (2015), Building, measuring, and profiting from
customer loyalty Building, Journal of the Academy of Marketing Science, Vol.43(6), pp.790-
825
o Hsieh, Chiu& Chiang (2005), maintaining a committed online customer: A study across
search-experience-credence products, Journal of Retailing, Vol.81(1), pp.75-82
o Silveira, C., Oliveira, M. and Luce, F. (2017), Comparing alternative approaches to estimate
customer equity, Marketing Intelligence & Planning, Vol. 35 No. 5, pp. 611-625.
Lecture
Article
Video Clip
, Topic 1
Lecture 1 – Monday Feb 1 2020: Introduction to the course
What is Marketing?
- functions and processes/activities to deliver customer value
- a business philosophy → a way to approach the market
Marketing definitions AMA
Two main marketing decisions
- segmentation – understanding consumers
- value differentiation – creating customer value
The origins of current marketing thinking:
- these days quality is not the success/value driver in businesses anymore
- what makes a company successful? —> marketing (a way to approach the market in order to develop customer value
History of the business philosophy
- marketing first mentioned in the 1900s during production era and it referred to the transition to mass production and taking
produce to the market (getting produce from A to B in an efficient manner); everything related to logistics.
- As time went by, it started referred to selling rather than logistics, it started being all about what is better about a product,
driven by the context.
- 1980s we started thinking around, started listening to what the consumers want that they aren’t served with in order to be
better than the competitors, starting the concept of marketing
Marketing definitions:
1985 –> definition still about the distribution of goods, getting in more transaction and selling the product that you liked
(success more about market share)
2012 –> definition about bringing value to customer and creating a relationship (success more about the share of wallet, loyalty)
Context still changing, now there is a need to take the environment and the society in consideration.
Main marketing decisions:
- segmentation: understanding consumers
- value differentiation: creating customer value
