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Extant literature indicates that increased product market diversification generates both positive and negative impact on firm performance. This inconclusive pattern hinders the decision-making of deploying a firm’s resources across different markets. This research aims to embed diversification into a moderation-based framework and demonstrates the conditions under which increased diversification produces either beneficial or harmful effects on firm outcomes. The authors introduce another market configuration dimension, viz., market emphasis, and reveal how changes in diversification and in emphasis yield interactive effects on an important firm performance indicator, idiosyncratic risk. An additional moderator, market turbulence, is also incorporated to further enrich the model in a three-way interaction. Results show that when market turbulence is high, and a firm highly skews its resources to some of its markets, diversifying into more market domains will increase firm idiosyncratic risk. A better choice during increased diversification is to evenly emphasize each of its markets. However, in a market displaying low turbulence, the high diversification-high emphasis pattern may be preferred because of lower firm risk.

To test the hypotheses, the authors collected a comprehensive archival data that contained a large group of public traded US-based manufacturing companies from three different resources. These were the Compustat Annual Database, the Center for Research in Security Prices database and Compustat Business Segment Database. These databases and the combinatorial approach are widely adopted in marketing and management research involving firm strategies and financial outcomes.

When market turbulence is high, simultaneously increasing market diversification and emphasis will more strongly raise firm idiosyncratic risk. However, polarizing into either diversification or emphasis reduces firm risk. When in a low turbulence market, expanding to more product markets and simultaneously emphasizing key markets will decrease idiosyncratic risk. One noticeable fact is that irrespective of whether a firm is in high or low turbulence conditions, choosing a diversification strategy always decreases firm risk when market emphasis is low. However, the impact of this effect however is higher when turbulence is greater. The authors also present the boundary conditions under which the three-way interaction holds.

First, the extension to the utilization of idiosyncratic risk stretches the understanding of effective ways of reducing firm risks from an angle of marketing management. This view of firm risk also contributes to further analysis of shareholder value. Classic corporate asset valuation focuses more on the financial performance indicators as well as the firm’s strategic domains. This research thus provides a unique and meaningful guideline for the corporate valuation approach from the angle of analyzing the firm’s business segment scope and emphasis in the context of the environment.

The idea about how many product markets a firm should enter is always one of the primary decisions that contain significant trade-offs. This makes the managers choice difficult during the decision-making processes. The authors suggest that managers should not only consider the scope of product markets but also think carefully about the resources allocated toward each segment. A matrix with dimensions of diversification and emphasis can be explicitly studied during the strategy formulation. The individual blocks within this matrix may have significant outcome differences.

Previous research focuses on either a firm’s internal assets or external competitive situations when researchers seek the drivers of risk-reduction. This research extends this horizon by adding the interplay between a set of fundamental firm decision areas, diversification and emphasis and the external conditions facing a firm (turbulence).

Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.

Briefly reviews previous literature by the author before presenting an original 12 step system integration protocol designed to ensure the success of companies or countries in their efforts to develop and market new products. Looks at the issues from different strategic levels such as corporate, international, military and economic. Presents 31 case studies, including the success of Japan in microchips to the failure of Xerox to sell its invention of the Alto personal computer 3 years before Apple: from the success in DNA and Superconductor research to the success of Sunbeam in inventing and marketing food processors: and from the daring invention and production of atomic energy for survival to the successes of sewing machine inventor Howe in co‐operating on patents to compete in markets. Includes 306 questions and answers in order to qualify concepts introduced.

Although much has been written about the antecedents and consequences of market orientation, and previous studies have generated useful insights into different “forms” of market orientation, little is known of the emphases placed on different dimensions of market orientation, and no published research to date has explicitly focused on the environmental factors that may contribute to the development of particular orientation emphases. Accordingly, the study reported here aims to explore the divergent varieties of emphasis in practice, and to identify the environmental factors that contribute to that variation.

This paper begins with a comprehensive review of the literature of market orientation. The study it then reports adopted a realist perspective and used techniques usually associated with qualitative research and “grounded theory”, a departure from the positivist approach and survey methodology typically found in published studies of market orientation. Data were collected in 114 face‐to‐face, in‐depth, semi‐structured interviews in more than 50 UK‐based firms.

Results uncover four variations of market orientation, each of which exhibits a different emphasis, linked to environmental factors at the micro, meso and macro levels. The emphasis placed on the different dimensions of market orientation appears to be dynamic, and driven by changing environmental factors.

Marketing planners need to consider which emphasis of market orientation is most suited to stated strategic objectives. After instituting strategic change, managers need to ensure that the form of market orientation developed continues to reflect and respond to environmental conditions.

This paper offers interesting insights to practitioners concerned with the wider implications of market orientation.

The purpose of this paper is to investigate the influence of internal capabilities and environmental turbulence on market (e.g. cost leadership and differentiation) and nonmarket (e.g. political and social) strategies (NMS), and considers how these strategies impact financial and non-financial performance in firms in the United Kingdom.

A survey was administered online to 215 practicing managers in the UK. Measures for competitive strategy (i.e. cost leadership and differentiation), NMS, strategic capabilities, market turbulence and firm performance were adopted from or based on previous work. Hypotheses were tested via SmartPLS.

Findings underscore the impact of market turbulence across all market and nonmarket strategy dimensions. Multiple links between capabilities and strategies were identified. Both cost leadership and differentiation were significantly linked to non-financial performance, but only differentiation was significantly linked to financial performance. An increased emphasis on social NMS was linked to higher financial performance, but not non-financial performance. Political NMS was linked to neither financial nor non-financial performance.

The sample included managers in multiple industries. Self-typing scales were utilized to measure market turbulence, emphasis on capabilities, strategic emphasis and firm performance.

Emphasis on social NMS can promote financial performance, but political NMS does not appear to drive either financial or non-financial performance.

This paper provides empirical support for a UK-based model linking market turbulence, strategic capabilities, market and nonmarket strategies, and both social and firm performance. It supports NMS as a key performance driver, but with caveats.

This article examines and comments on the role of clinical directors in the NHS (UK), with specific reference to the relevance of a strategic marketing emphasis. It utilises qualitative methodologies to collect data from stakeholders ‐ in particular, clinical directors and other managers ‐ from two NHS trust hospitals. It examines the extent to which a marketing approach is applicable to clinical managers working in these two hospitals. It utilises a conceptual framework devised by Kottler and Andreason, to highlight whether a marketing approach is, in fact, utilised by these managers. It suggests that a strategic marketing approach (based upon relationships), remains relevant to clinical management, notwithstanding recent changes in government policy.

Companies along the forestry‐wood value chain from four European countries were surveyed in order to examine social responsibility in values and environmental emphasis in their marketing planning. Most of the Finnish, Swedish, German and UK companies emphasise environmental issues in their values, marketing strategies, structures and functions. The companies were classified into three groups according to their responsibility values based on the concepts of redirecting customers towards sustainability and the role of governmental balancing of markets. “Proactive green marketers” (companies emphasising pursuing sustainability and believing in free market system) emphasise environmental issues in their marketing planning clearly more than traditional “consumption marketers”, and more than “reactive green marketers” (companies emphasising pursuing sustainability under governmental balancing). We interpret that proactive marketers are the most genuine group in implementing environmental marketing voluntarily and seeking competitive advantage through environmental friendliness. Thus, the example of these progressive companies should be the direction towards sustainable development in business and society. The results also give evidence that green values, environmental marketing strategies, structures and functions are logically connected to each other as hypothesised according to the model of environmental marketing used to guide this study.

Presents the findings of a survey carried out in the UK but based on one in the USA, on whether academic development and teaching of a subject is inextricably tied to educators' conceptions of the field of study. Uses tables to show the results of the questionnaire and discusses them in depth. Concludes externally controlled marketing courses might well be pressurised to accommodate a broader conception of marketing.

This study adopts the Miles and Snow typology as a framework for analyzing export performance of manufacturing firms. The study investigates the role of distinctive competence and various strategic responses of firms belonging to each strategic type on their foreign market performance. The results of this study show that a firm’s strengths and strategic responses are related and that the impact of strategic responses on export performance differs according to the firm’s strategic type. Based on these results, the strengths that defenders, prospectors and analyzers should build and maintain as well as the strategic responses that each should pursue are identified.

The purpose of this paper is to examine the development, extension and use of the “six markets” model and to outline a framework for analysing stakeholder relationships and planning stakeholder strategy.

The “six markets” stakeholder model is examined. Refinement of the model and improved understanding as a result of field‐based research is described. A stakeholder relationship planning framework is proposed.

The paper examines the use of the “six markets” model in a wide range of organisational contexts utilizing a range of research approaches. A stakeholder relationship planning model is developed consisting of four inter‐related elements, i.e. stakeholder value propositions, value delivery design, stakeholder relationship marketing plans, and measurement and feedback.

The article suggests a number of areas for future research, including the development of planning approaches for different classes of stakeholders and more detailed testing of the stakeholder model and planning framework in specific market sectors.

The research suggests that managers find that the development and implementation of relationship plans for the key stakeholder markets generates valuable new knowledge and insights into stakeholder conditions, constraints and opportunities.

This article contributes to knowledge in the relationship marketing and stakeholder theory areas through the development, refinement and use of a planning model that addresses the complexity of stakeholder relationships and networks. The stakeholder planning approach that is developed represents a means by which managers can achieve greater transparency of stakeholders' interests and improved rigour in planning relationships with stakeholders.