Marketing Performance
The fourteen articles listed below have each been summarized in a clear, structured table format. Every table provides a concise yet complete overview of the article’s core
logic, including its main idea or research question, theoretical foundation, conceptual model, key findings, and managerial implications. Together, these summaries allow for
a quick but thorough understanding of how each study is built up and how it contributes to the broader Marketing Performance literature.
1. Katsikeas, Constantine S., Neil A. Morgan, Leonidas C. Leonidou, and G. Tomas M. Hult – Assessing Performance Outcomes in Marketing
2. Kirca, Ahmet H., Satish Jayachandran, and William O. Bearden – Market Orientation: A Meta-Analytic Review and Assessment of Its Antecedents and Impact on
Performance
3. Hillebrand, Bas, Paul H. Driessen, and Oliver Koll – Stakeholder Marketing: Theoretical Foundations and Required Capabilities
4. Rust, Roland T., Katherine N. Lemon, and Valarie A. Zeithaml – Driving Customer Equity: Linking Customer Lifetime Value to Strategic Marketing Decisions
5. Leroi-Werelds, Sara, Sandra Streukens, Michael K. Brady, and Gilbert Swinnen – Assessing the Value of Commonly Used Methods for Measuring Customer Value: A
Multi-Setting Empirical Study
6. Kumar, V. – A Theory of Customer Valuation: Concepts, Metrics, Strategy, and Implementation
7. Palmatier, Robert W., Rajiv P. Dant, Dhruv Grewal, and Kenneth R. Evans – Factors Influencing the Effectiveness of Relationship Marketing: A Meta-Analysis
8. Verma, Varsha, Dheeraj Sharma, and Jagdish Sheth – Does Relationship Marketing Matter in Online Retailing? A Meta-Analytic Approach
9. Balducci, Bitetto, and Marinova – Customer Experience Management in the Age of Omnichannel Retailing
10. Homburg, Christian, Laura Ehm, and Martin Artz – Measuring and Managing Consumer Sentiment in an Online Community Environment
11. Colicev, Anatoli, Ashwin Malshe, Koen Pauwels, and Peter O’Connor – Improving Consumer Mindset Metrics and Shareholder Value Through Social Media: The
Different Roles of Owned and Earned Media
12. Rust, Roland T., William Rand, Ming-Hui Huang, Andrew T. Stephen, Gillian Brooks, and Timur Chabuk – Real-Time Brand Reputation Tracking Using Social Media
13. Luo, Xueming, Marco Shaojun Qin, Zheng Fang, and Zhe Qu – Artificial Intelligence Coaches for Sales Agents: Caveats and Solutions
14. Homburg, Christian, Martin Artz, and Jan Wieseke – Marketing Performance Measurement Systems: Does Comprehensiveness Really Improve Performance?
, Article 1. Katsikeas et al. Assessing Performance Outcomes in Marketing
Dimension Meaning / Focus Examples / Key Points Findings from the Study Guidelines for Researchers
1. Theoretical How clearly Researchers should explain what performance means and why Fewer than 10% of studies clearly define or justify what Always define performance clearly and justify
rationale “performance” is defined specific measures are chosen “performance” is; most treat it vaguely the choice of measures
and justified
2. Conceptual How performance is • Latent construct: one overall concept built from multiple Most studies use a latent approach; only a few uses separate Avoid treating performance as one vague
approach understood conceptually indicators (e.g., overall firm performance) constructs, and aggregate ones are very rare latent construct; specify and align conceptual
• Separate constructs: each dimension studied individually (e.g., and empirical definitions
profit vs. satisfaction)
• Aggregate construct: mathematical index combining measures
(e.g., ROA + ROS + market-to-book)
3. Aspects of Which parts of Six main aspects: Research is heavily biased toward accounting and product- Use multiple measures from different aspects
performance performance are market outcomes. of performance to capture a full picture
measured 1. Customer mindset (satisfaction, loyalty)
2. Customer behavior (retention, word of mouth) Customer-based and long-term measures are rarely used.
3. Customer-level performance (CLV, profitability)
4. Product-market performance (sales, market share) Use of financial-market outcomes has grown.
5. Accounting performance (profit, ROI)
6. Financial-market performance (stock returns)
4. Referents What performance is Possible referents: Most studies use absolute or input-based (ROI) measures. State referents explicitly (goals, competitors,
(comparison) compared against what time frame) to provide context and
• Absolute: no comparison (e.g., profit) Few compared to competitors, goals, or past performance. interpretability
• Inputs: efficiency (ROI)
• Temporal: compared to past or expected future
• Competition/industry: compared to rivals
• Firm goals: compared to internal targets
• Stock market: compared to overall market performance
5. Time horizon When performance is Can be historical, current, or future Almost all studies focus on current outcomes; very few analyze Specify the time horizon clearly and
measured long-term or future performance include long-term effects in analysis
6. Marketing– How marketing creates Marketing’s impact unfolds in a chain of outcomes: Marketing’s value is indirect and cumulative, moving from Combine short- and long-term measures to
Performance Outcome value over time Marketing actions → Customer mindset → Customer behavior → customer responses to financial outcomes; few studies capture reflect the full value creation process
Chain Product-market performance → Accounting outcomes → this full chain
Financial-market outcomes
,7. Main conclusion Overall insight from the The current marketing literature is fragmented and inconsistent Because of inconsistent definitions and narrow measures, results
paper in defining and measuring performance across studies cannot be compared or synthesized
Article 2. Kirca et al. Market Orientation: A Meta-Analytic Review and Assessment of Its Antecedents and Impact on Performance
Stage Main Elements Findings / Relationships Effect Explanation
1. What drives Market Orientation Top management emphasis Leadership focus on customers and competitors makes the (+) Strong managerial support signals that customer
(MO) company more market oriented. focus is essential.
Interdepartmental connectedness Good communication and cooperation between departments (+) The most powerful driver; information flows freely
strongly increase MO. across the firm.
Reward systems and training Rewarding and training employees for customer-oriented behavior (+) Reinforces behaviors that align with customer
strengthens MO. needs.
Interdepartmental conflict Tensions between departments reduce market orientation. (–) Conflict blocks information sharing and
coordinated action.
Centralization Too much decision-making at the top limits flexibility; effect (0 / weak –) Bureaucracy hinders responsiveness unless offset
disappears when leadership is strong. by strong systems.
Formalization Too many strict rules can reduce adaptability, but clear guidelines (0 / weak –) Depends on how rules are designed — they can
can also help. support or restrict MO.
→ Leads to: High Market Orientation The firm systematically gathers, shares, and acts on market (+) MO becomes both a culture and a set of behaviors.
information across departments.
2. How MO improves performance 1. Innovativeness MO encourages creativity and new product development, which (+) Market knowledge sparks innovation that meets
(Mediating chain) lead to higher quality and loyalty. customer needs.
, 2. Quality MO leads to products and services that customers perceive as (+) Firms design better offerings based on customer
higher quality. insight.
3. Customer loyalty Satisfied customers stay longer and buy more from market-oriented (+) Builds repeat business and positive word of mouth.
firms.
Direct impact on performance Even after accounting for innovation, quality, and loyalty, MO still (+) MO benefits go beyond what mediators can
directly improves performance. explain.
→ Chain effect: MO → Innovation → Quality → Loyalty → Each step reinforces the next. (+) Explains how MO drives superior results.
Performance
3. Outcomes of Market Orientation Organizational performance Market-oriented firms achieve higher sales, profits, and market (+) Clear and consistent positive impact across studies.
share. Strongest!
Customer outcomes Customers report higher satisfaction, loyalty, and perceived quality. (+) MO translates directly into customer value.
Innovation outcomes Firms are more innovative and launch more successful new (+) Constant market feedback fosters continuous
products. improvement.
Employee outcomes Employees show more commitment, teamwork, and job (+) A shared external focus improves internal
satisfaction; less internal tension. cohesion.
4. When and where MO works best Performance measurement type The MO–performance link appears stronger when performance is (+) Managers perceive broader effects beyond
(Moderators) judged subjectively. financial data.
Industry type MO works better in manufacturing than in services. (+) stronger in Tangible products make it easier to turn insights
manufacturing into improvements.
Cultural context MO has a stronger effect in open, low-hierarchy, and flexible (+) Free information flow and adaptability enhance
cultures. MO.
Environmental conditions Market orientation helps regardless of turbulence or stability. (0) MO remains valuable in both stable and dynamic
markets.
→ Final outcome Sustained success and competitive Firms that listen, share, and adapt outperform others over time. (+) MO is a reliable route to long-term performance.
advantage
Article 3. Hillebrand et al. Stakeholder Marketing: Theoretical Foundations and Required Capabilities
Dimension Meaning / Focus Examples / Key Points Main Insights Practical / Theoretical Takeaways
Core idea Marketing should no longer focus These include customers, NGOs, suppliers, Traditional marketing saw these relationships as separate Stakeholder marketing views value as co-created
only on customers, but on all governments, media, and employees. and one-to-one. across an entire, connected network.
stakeholders that shape value.
The fourteen articles listed below have each been summarized in a clear, structured table format. Every table provides a concise yet complete overview of the article’s core
logic, including its main idea or research question, theoretical foundation, conceptual model, key findings, and managerial implications. Together, these summaries allow for
a quick but thorough understanding of how each study is built up and how it contributes to the broader Marketing Performance literature.
1. Katsikeas, Constantine S., Neil A. Morgan, Leonidas C. Leonidou, and G. Tomas M. Hult – Assessing Performance Outcomes in Marketing
2. Kirca, Ahmet H., Satish Jayachandran, and William O. Bearden – Market Orientation: A Meta-Analytic Review and Assessment of Its Antecedents and Impact on
Performance
3. Hillebrand, Bas, Paul H. Driessen, and Oliver Koll – Stakeholder Marketing: Theoretical Foundations and Required Capabilities
4. Rust, Roland T., Katherine N. Lemon, and Valarie A. Zeithaml – Driving Customer Equity: Linking Customer Lifetime Value to Strategic Marketing Decisions
5. Leroi-Werelds, Sara, Sandra Streukens, Michael K. Brady, and Gilbert Swinnen – Assessing the Value of Commonly Used Methods for Measuring Customer Value: A
Multi-Setting Empirical Study
6. Kumar, V. – A Theory of Customer Valuation: Concepts, Metrics, Strategy, and Implementation
7. Palmatier, Robert W., Rajiv P. Dant, Dhruv Grewal, and Kenneth R. Evans – Factors Influencing the Effectiveness of Relationship Marketing: A Meta-Analysis
8. Verma, Varsha, Dheeraj Sharma, and Jagdish Sheth – Does Relationship Marketing Matter in Online Retailing? A Meta-Analytic Approach
9. Balducci, Bitetto, and Marinova – Customer Experience Management in the Age of Omnichannel Retailing
10. Homburg, Christian, Laura Ehm, and Martin Artz – Measuring and Managing Consumer Sentiment in an Online Community Environment
11. Colicev, Anatoli, Ashwin Malshe, Koen Pauwels, and Peter O’Connor – Improving Consumer Mindset Metrics and Shareholder Value Through Social Media: The
Different Roles of Owned and Earned Media
12. Rust, Roland T., William Rand, Ming-Hui Huang, Andrew T. Stephen, Gillian Brooks, and Timur Chabuk – Real-Time Brand Reputation Tracking Using Social Media
13. Luo, Xueming, Marco Shaojun Qin, Zheng Fang, and Zhe Qu – Artificial Intelligence Coaches for Sales Agents: Caveats and Solutions
14. Homburg, Christian, Martin Artz, and Jan Wieseke – Marketing Performance Measurement Systems: Does Comprehensiveness Really Improve Performance?
, Article 1. Katsikeas et al. Assessing Performance Outcomes in Marketing
Dimension Meaning / Focus Examples / Key Points Findings from the Study Guidelines for Researchers
1. Theoretical How clearly Researchers should explain what performance means and why Fewer than 10% of studies clearly define or justify what Always define performance clearly and justify
rationale “performance” is defined specific measures are chosen “performance” is; most treat it vaguely the choice of measures
and justified
2. Conceptual How performance is • Latent construct: one overall concept built from multiple Most studies use a latent approach; only a few uses separate Avoid treating performance as one vague
approach understood conceptually indicators (e.g., overall firm performance) constructs, and aggregate ones are very rare latent construct; specify and align conceptual
• Separate constructs: each dimension studied individually (e.g., and empirical definitions
profit vs. satisfaction)
• Aggregate construct: mathematical index combining measures
(e.g., ROA + ROS + market-to-book)
3. Aspects of Which parts of Six main aspects: Research is heavily biased toward accounting and product- Use multiple measures from different aspects
performance performance are market outcomes. of performance to capture a full picture
measured 1. Customer mindset (satisfaction, loyalty)
2. Customer behavior (retention, word of mouth) Customer-based and long-term measures are rarely used.
3. Customer-level performance (CLV, profitability)
4. Product-market performance (sales, market share) Use of financial-market outcomes has grown.
5. Accounting performance (profit, ROI)
6. Financial-market performance (stock returns)
4. Referents What performance is Possible referents: Most studies use absolute or input-based (ROI) measures. State referents explicitly (goals, competitors,
(comparison) compared against what time frame) to provide context and
• Absolute: no comparison (e.g., profit) Few compared to competitors, goals, or past performance. interpretability
• Inputs: efficiency (ROI)
• Temporal: compared to past or expected future
• Competition/industry: compared to rivals
• Firm goals: compared to internal targets
• Stock market: compared to overall market performance
5. Time horizon When performance is Can be historical, current, or future Almost all studies focus on current outcomes; very few analyze Specify the time horizon clearly and
measured long-term or future performance include long-term effects in analysis
6. Marketing– How marketing creates Marketing’s impact unfolds in a chain of outcomes: Marketing’s value is indirect and cumulative, moving from Combine short- and long-term measures to
Performance Outcome value over time Marketing actions → Customer mindset → Customer behavior → customer responses to financial outcomes; few studies capture reflect the full value creation process
Chain Product-market performance → Accounting outcomes → this full chain
Financial-market outcomes
,7. Main conclusion Overall insight from the The current marketing literature is fragmented and inconsistent Because of inconsistent definitions and narrow measures, results
paper in defining and measuring performance across studies cannot be compared or synthesized
Article 2. Kirca et al. Market Orientation: A Meta-Analytic Review and Assessment of Its Antecedents and Impact on Performance
Stage Main Elements Findings / Relationships Effect Explanation
1. What drives Market Orientation Top management emphasis Leadership focus on customers and competitors makes the (+) Strong managerial support signals that customer
(MO) company more market oriented. focus is essential.
Interdepartmental connectedness Good communication and cooperation between departments (+) The most powerful driver; information flows freely
strongly increase MO. across the firm.
Reward systems and training Rewarding and training employees for customer-oriented behavior (+) Reinforces behaviors that align with customer
strengthens MO. needs.
Interdepartmental conflict Tensions between departments reduce market orientation. (–) Conflict blocks information sharing and
coordinated action.
Centralization Too much decision-making at the top limits flexibility; effect (0 / weak –) Bureaucracy hinders responsiveness unless offset
disappears when leadership is strong. by strong systems.
Formalization Too many strict rules can reduce adaptability, but clear guidelines (0 / weak –) Depends on how rules are designed — they can
can also help. support or restrict MO.
→ Leads to: High Market Orientation The firm systematically gathers, shares, and acts on market (+) MO becomes both a culture and a set of behaviors.
information across departments.
2. How MO improves performance 1. Innovativeness MO encourages creativity and new product development, which (+) Market knowledge sparks innovation that meets
(Mediating chain) lead to higher quality and loyalty. customer needs.
, 2. Quality MO leads to products and services that customers perceive as (+) Firms design better offerings based on customer
higher quality. insight.
3. Customer loyalty Satisfied customers stay longer and buy more from market-oriented (+) Builds repeat business and positive word of mouth.
firms.
Direct impact on performance Even after accounting for innovation, quality, and loyalty, MO still (+) MO benefits go beyond what mediators can
directly improves performance. explain.
→ Chain effect: MO → Innovation → Quality → Loyalty → Each step reinforces the next. (+) Explains how MO drives superior results.
Performance
3. Outcomes of Market Orientation Organizational performance Market-oriented firms achieve higher sales, profits, and market (+) Clear and consistent positive impact across studies.
share. Strongest!
Customer outcomes Customers report higher satisfaction, loyalty, and perceived quality. (+) MO translates directly into customer value.
Innovation outcomes Firms are more innovative and launch more successful new (+) Constant market feedback fosters continuous
products. improvement.
Employee outcomes Employees show more commitment, teamwork, and job (+) A shared external focus improves internal
satisfaction; less internal tension. cohesion.
4. When and where MO works best Performance measurement type The MO–performance link appears stronger when performance is (+) Managers perceive broader effects beyond
(Moderators) judged subjectively. financial data.
Industry type MO works better in manufacturing than in services. (+) stronger in Tangible products make it easier to turn insights
manufacturing into improvements.
Cultural context MO has a stronger effect in open, low-hierarchy, and flexible (+) Free information flow and adaptability enhance
cultures. MO.
Environmental conditions Market orientation helps regardless of turbulence or stability. (0) MO remains valuable in both stable and dynamic
markets.
→ Final outcome Sustained success and competitive Firms that listen, share, and adapt outperform others over time. (+) MO is a reliable route to long-term performance.
advantage
Article 3. Hillebrand et al. Stakeholder Marketing: Theoretical Foundations and Required Capabilities
Dimension Meaning / Focus Examples / Key Points Main Insights Practical / Theoretical Takeaways
Core idea Marketing should no longer focus These include customers, NGOs, suppliers, Traditional marketing saw these relationships as separate Stakeholder marketing views value as co-created
only on customers, but on all governments, media, and employees. and one-to-one. across an entire, connected network.
stakeholders that shape value.
