International retail restructuring and divestment: the experience of Tesco

A key purpose of this study is to explore the lessons learned from international retail divestment and market withdrawal experiences. Drawing on 33 in-depth interviews with leading investment banks and key retail executives at Tesco, the study investigates the company's international restructuring and divestment activities in Ireland and France during the mid -1980s and 1990s. It has been demonstrated that, despite the progressive merger and acquisition wave sweeping through the corporate retail landscape recently, international retail divestment is quite widespread. The main conclusion from this study is that Tesco originally did not envisage divestment or de-internationalisation as part of the original internationalisation strategy process in either the acquisition of Three Guys in Ireland or Catteau in France. There was no appreciation from Tesco during their early period of expansion of the fact that exit pressures might arise during the course of market entry. In this regard, the case study provides insights into the relationship between investment and divestment within the context of international retail restructuring. The case evidence also demonstrates the positive impact of the Three Guys and Catteau divestments which helped management to refocus and rejuvenate the company's internationalisation process.

Determining consumer satisfaction and commitment through self-service technology and personal service usage

This paper expands research into self-service technology in the service encounter. Self-service technology is where customers deliver service themselves using some form of a technological interface. There is still a great deal unknown about self-service technology, in particular its impact on consumer satisfaction and consumer commitment. With that in mind, this empirical study explores the relative impact of self-service technology on consumer satisfaction and on a multidimensional measure of consumer commitment containing affective commitment, temporal commitment and instrumental commitment. The results reveal that in a hotel context personal service still remains very important for assessments of satisfaction, and affective and temporal commitment. What is particularly interesting is that self-service technology, while impacting these constructs, also impacts instrumental commitment. This suggests that positive evaluations of self-service technology may tie consumers into relationships with hotels. A discussion and implications for managers are provided on these and other results, and the paper is concluded with further potential research.

How brand portfolios have changed:a study of grocery suppliers brands from 1994 to 2004

This study examines the changes in brand structures based on a repeat audit of brand portfolios by leading grocery product suppliers. It compares results from content analyses of four hundred leading suppliers' brands sold to Tesco and Sainsbury's in 1994 and 2004. The brand structures used have changed although not uniformly in extent or direction. There is now more complexity in the way brand names are used. An extended typology of brand structures is incorporated. Propositions drawn from latest thinking on the use of brand portfolios are compared with the findings implications discussed.

Faces of pricing and profit planning at the doorstep of the EU: government pricing policy in the innovative pharmaceutical sector in Turkey

The majority of research on the pharmaceutical sector has focused on an overall micro economic, medical oriented welfare issues, whereas the marketing management role of the innovative drug manufacturer has to a large extent been disregarded. Using the case of Turkey, through a series of in-depth interviews with highly innovative companies, other marketing management possibilities to develop pricing strategies and plan for profit are explored based on broader definitions of value and transparency. Our results suggest that pharmaceutical companies as well as governments might have a too narrow focus of value and underestimate the potential long term benefits of a broader approach to marketing management and long term relationships between the various stakeholders.

The antecedents and consequences of e-business adoption in Malaysian manufacturing firms

Theory suggests that firms that adopt innovation share some common characteristics, just as those who do not adopt innovation and firms adopt a particular technology because the functions provided by the chosen technology fulfils their needs. Building on these arguments, this research project investigates the antecedents and consequences of e-business adoption among manufacturing firms in Malaysia. This thesis develops from the existing literature of organisational innovation adoption, information technology and strategic marketing/management. It further adds to the existing literature by using cultural-based predictors representing organisational characteristics consisting of market orientation, innovativeness and organisational learning. The study also formalises the theoretical framework of organisational-environment-technology. This study develops a new construct called technology motivation in addition to the introduction of several e-business technology scales. The results substantiate the significance of firm technology motivation in determining firm adoption of the various e-business initiatives. In addition, business environment and market orientation are found to influence firm choice of technology motivation. Meanwhile, innovativeness and organisational learning are shown to influence the magnitude of a firm’s e-business adoption. Finally, the results show that firm adoption of e-business technology does not influence organisational performance. This investigation clarifies the rationale and importance of firm technology motivation in adopting the various e-business initiatives. It also highlights the importance of having the appropriate organisational culture in ensuring a successful technology adoption.

Faces of pricing and profit planning in innovation at the doorstep of the EU:government pricing policy in the pharmaceutical sector in Turkey

The majority of research on the pharmaceutical sector has focused on an overall micro economic, medical oriented welfare issues, whereas the marketing management role of the innovative drug manufacturer has to a large extent been disregarded. Using the case of Turkey, through a series of in-depth interviews with highly innovative companies, other marketing management possibilities are explored based on broader definitions of value and transparency. Our results suggest that pharmaceutical companies as well as the government might have a too narrow focus of value and underestimate the potential long term benefits of a broader approach to marketing management and long term relationships between the various stakeholders.

Aligning employee service recovery performance with brand values:the role of brand-specific leadership

This study investigates the effects of brand-specific leadership on employees' brand-aligned service recovery performance (SRP). In order to do so, we empirically test a conceptual model of relationships between brand-specific transformational leadership (TFL) and transactional leadership (TRL), trust in leader and in corporate brand, brand identification, and SRP from employees' perspectives. It is the first study to incorporate trust in corporate brand into the framework. Results from a study of 246 customer-contact employees show that brand-specific TFL has a positive impact on all variables studied, while brand-specific TRL is ineffective in fostering brand-building behaviours. More specifically, brand-specific TFL's effects on employee SRP are mediated by trust in the leader, trust in the corporate brand, and brand identification. Implications and future research directions are discussed. © 2013 Copyright Taylor & Francis.

Brand orientation and brand values in retail banking

This exploratory study seeks to provide an appreciation of brand orientation in retail banking. Through in-depth interviews at head office and branch level, we explore managers' brand mind-set. We also surface managers' views about the relationship between market and brand orientation. Further, we examine managers' perceptions about the role of brand values as resources in creating a brand orientation. In a large-scale study of front-line employees, we examine the level of agreement with brand values, and describe differences in brand buy-in across employee clusters. © 2013 Copyright Westburn Publishers Ltd.

Transaction cost analysis

Transaction cost theory is one of the most widely used theories in marketing, management, and economics. The focus of the theory is on explaining how firms organize transactions. The rules by which transactions are organized is called governance. A wide variety of strategic decisions of firms, such as outsourcing, the mode of organizing exports, the use of crowdsourcing, or partner selection efforts, can be analyzed and understood using transaction cost theory. The basic argument of transaction cost theory is that firms economize on costs by choosing a form of governance that minimizes production and transaction costs. We discuss the origins and uses of the theory, critical variables, assumptions, and limitations.

Modelling markets

Decision makers in marketing are often faced with rather complicated situations in which decisions have to be made. Let us consider the problem of determining the appropriate advertising budget. A brand manager is asked to determine the optimal budget. He knows that increases in advertising may lead to increased sales, but also lead to increased costs. The advertising expenditures in period t, say 1994, may not only lead to increases in sales in t, but also to increases in t + 1 (1995) and possibly may contribute to the value of the brand for a long time period.2 Increases in sales will result in changes in profit. The decision maker is allowed to spend more advertising money if there is more profit and more sales, thus advertising spending depends on past sales and profit performance. In order to account for these and possibly other relationships it is necessary to formalise these relations. This means that the decision maker has to specify which variables influence which other variables and what the directions of causality between these variables are. To this end a model has to be formalised, data have to be collected and the formalised model has to be calibrated.

Returns on key accounts:do the results justify the expenditures?

Purpose – The use of key accounts has become a mature trend and most industrial firms use this concept in some form. Selling firms establish key account teams to attend to important customers and consolidate their selling activities. Yet, despite such increased efforts on behalf of key accounts, sufficient research has not quantified the returns on key account strategy nor has it firmly established performance differences between key and non-key accounts within a firm. In response to this shortcoming, this study aims to examine returns on key accounts. Design Methodology/approach – Data were collected from a global consulting firm. The data collection started two years after the implementation of the key account program. Data were collected on recently acquired customers (within the previous year) at two time periods: year 1 and year 3 (based on company access of data). Findings – Initially, key accounts perform as well or better than other types of accounts. However, in the long term, key accounts are less satisfied, less profitable and less beneficial for a firm’s growth than other types of accounts. Because the returns to key account expenditures, thus, appear mixed, firms should be cautious in expanding their key account strategies. Research limitations implications – The study contributes to research in three areas. First, most research on the effectiveness of key accounts refers to the between-firm level, whereas this study examines the effect within a single firm. Second, this study examines the temporal aspects of key accounts, namely, what happens to key accounts over time, in comparison with other accounts in a fairly large sample. Third, it considers the survival rates of key accounts versus other types of accounts. Practical implications – The authors suggest that firms also need to track their key accounts better because the results show that key accounts are less satisfied, less profitable and less beneficial for a firm’s growth than other types of accounts. Originality/value – Extant research has not examined these issues.

Is more capability always beneficial for firm performance? Market orientation, core business process capabilities, and business environment

This study examines the role of capabilities in core marketing-related business processes–product development management (PDM), supply chain management (SCM) and customer relationship management (CRM)–in translating a firm’s market orientation (MO) into firm performance. The study is the first to examine the interplay of all three business process capabilities simultaneously, while investigating how environmental conditions moderate their performance effects. A moderated mediation analysis of 468 product-focused firms finds that PDM and CRM process capabilities play important mediating roles, whereas SCM process capability does not mediate the relationship between MO and performance. However, the relative importance of the capabilities as mediators varies along the degree of environmental turbulence, and under certain conditions, an increase in the level of business process capability may even turn detrimental.

Fenntartható fogyasztás?

A fenntartható fogyasztás célja, hogy biztosítsuk a társadalom – beleértve a jövő generációkat is – jólétét, miközben a természet által megszabott keretek között tartjuk az erőforrások felhasználását és a szennyezés kibocsátását. Az ambiciózus cél eléréséhez szükséges a gazdaság minden aktorának a hozzájárulása: a fogyasztási minták fenntartható irányba való terelése elképzelhetetlen az oktatás és tudatformálás nélkül, az értékrendszer és az infrastruktúra megteremtése is elengedhetetlen, valamint hatékony technológiák és termékek kifejlesztése a vállalatok közreműködését igényli. Szöveggyűjteményünk célja, hogy bemutassuk a probléma komplexitását többféle aspektusból, és felvázoljuk azokat az utakat és lehetőségeket, amelyek a fogyasztás szerepének újragondolásához vezethetnek. Kötetünket – amely kutatási eredményeken alapul –, úgy állítottuk össze, hogy alkalmas legyen oktatási célra is. Különösen ajánljuk a gazdasági terület hallgatóinak, oktatóinak, de reméljük, hogy a kötetet haszonnal forgatja a téma iránt érdeklő szélesebb közönség is. A tanulmánykötet fejezetei a Norvég Finanszírozási Mechanizmus által támogatott „Fenntartható Fogyasztás, Termelés és Kommunikáció” projekt keretében készültek.

A vállalatok árképzési gyakorlata a versenyképesség szolgálatában (The pricing practice of corporates and the competitiveness)

A marketing-szakirodalom szerint az ár az egyik legfontosabb marketingeszköz, és a vállalati versenyképesség értelmezésében is meghatározó szerepe van. A megfelelő árképzés kialakítása ugyanakkor összetett folyamat, amely önmagában is külön képességnek tekinthető, és kell befektetést igényel. A szerző az elemzés során így arra volt kíváncsi, hogy a vezető, azaz a versenyképes vállalatok árazási gyakorlata mutat-e eltéréseket, és, ha igen, melyek azok a területek, amelyek leginkább összefüggnek az eredményességükkel. A háromszáz hazai vállalatra kiterjedő kutatás során azt találta, hogy a vezető vállalatok valamelyest másképp tekintenek az ár szerepére és szignifikánsan magasabb árszínvonalon értékesítenek. Ez nagyobb mozgásteret enged számukra, a versenytársak árkihívásaira így könnyebben tudnak árakciókkal válaszolni. Árképzési céljaikban azonban kevésbé mutatkoznak különbségek, mert számukra is kihívást jelent a válság, és nekik is több szempontnak kell egyszerre megfelelniük. Az árak meghatározásánál azonban több tényezőt vesznek figyelembe és jobban támaszkodnak a vevőkről szerzett információkra. ______________ According to the marketing literature the price is one of the most important marketing tools and it plays a dominant role in the interpretation of corporate competitiveness, as well. The appropriate pricing, however, a complex process that can be regarded as a distinct capability and it requires sufficient investment itself. In this analysis the author enquired if the pricing practice of the leading, that is, the most competitive companies has a different profile, and if yes, which areas are associated with the success of them. Based on the survey of 300 domestic organisations he found that the leading companies consider the role of price in a slightly different way and they price their products or services significantly higherthan the others. This let them some space to manoeuvre and they can react with price promotions when the competitors challenge them with price activities. Regarding the pricing objectives the author couldn’t identify differences. The leading companies are also affected by the economic crisis and they have to match many expectations at the same time but they take more factors into consideration when they set their prices and more likely use customer information.

Mit gondolnak a vállalatvezetők az üzleti kapcsolatok értékéről?

Az üzleti kapcsolatok értéke meglehetősen bonyolult jelenség. Gazdasági, társadalmi és idő dimenziókkal ragadható meg. Másként jelentkezik egy üzleti kapcsolat csere, kapcsolati, illetve hálózati szintjén. Minden egyes szinten az üzleti kapcsolat értéke gazdasági és társadalmi elemek valamilyen, időben változó kombinációjaként jelentkezik. Az üzleti kapcsolatban érintettek valamennyien különböző módon észlelik ezt a kombinációt. 2002 tavaszán tíz mélyinterjú keretében az üzleti életben már komoly tapasztalatokkal rendelkező magyar vállalatvezetőt kérdeztünk arról, hogy mit gondolnak az üzleti kapcsolatok értékéről. A cikkben ennek a vizsgálatnak az eredményeit mutatják be és elemzik a szerzők.