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The purpose of this paper is to examine the validity of the already suggested positive relationship between marketing alliance orientation and market performance in a service context, and to investigate the mediating role of alliance marketing program creativity (AMPC) in the relationship in detail.

To empirically test the hypotheses, a mail survey was conducted among firms with experience of service alliances in South Korea. A 725 research sample was selected (128 responded) from a database compiled by the Korea Investors Service-Financial Analysis System which provides comprehensive corporate and financial information on firms listed on the Korea Stock Exchange. partial least squares analysis was performed to test the hypotheses.

Alliance orientation positively associated with market performance (H1), alliance orientation had a significantly positive effect on alliance marketing program meaningfulness and novelty (H2), and in turn, alliance marketing program meaningfulness and novelty had a significantly positive effect on market performance (H3). In terms of the determination of mediation type, full, or partial, the authors confirmed that the relationship between alliance orientation and market performance was fully mediated by AMPC (novelty and meaningfulness), by finding that the significantly reduced direct effect from alliance orientation to market performance in the mediation model.

Alliance marketing program meaningfulness and novelty perform the role of full mediators, implying that the meaningfulness, and novelty of AMPC are absolutely indispensable conditions in order for alliance orientation to lead market performance. Moreover, different from the previous studies, the research suggests that alliance marketing program meaningfulness and novelty are equally important antecedents of market performance.

The positive relationship between alliance orientation and market performance in the service context was empirically tested, and the full mediating role of AMPC was confirmed. The importance of AMPC in the service context is highlighted.

Co-marketing strategies play an important role in enabling firms to improve their competitive position. However, despite its increasing implementation, it remains a topic that is largely not researched. The purpose of this paper is to analyze existing contributions to the field of co-marketing research and the different perspectives scholars have adopted in analyzing the topic.

A literature review has been developed, as its lack seems to be a major hindrance to the development of related studies. A specific focus has been made on the adopted approaches. Five approaches have been identified, and multidimensional scaling (MDS) has been used to analyze the differences among them.

First, the analysis of the typologies of studies on co-marketing alliances is made. Also, the identified approaches are strategic-based, consumer-based, relational-based, specificity-based and evaluation-based. What emerges from the MDS is that there are two perspectives of analysis of the alliance that characterize them: the inside–outside and the wide–narrow points of view.

Limitations are mostly referred to the methodologies and the level of subjectivity they imply. For example, they are not only the choices made concerning keywords to be used and, consequently, the articles included in the analysis, but also the MDS that offers broad autonomy to the researchers in interpreting the data.

The originality of this research is that it fills an emerged gap concerning a literature review on co-marketing alliances, supporting future research in this field of study. The identification of the approaches underlines what may be lacking, providing interesting insights on possible avenues for future research.

The purpose of this paper is to examine whether marketing alliances create value for shareholders, and whether the results are robust across different business cycles.

Using standard event study methodology, abnormal returns (AR) were computed for 402 firms which formed marketing alliances in a 12‐month period covering three business time periods, namely bull, bear and post 9/11 periods. ANOVA and regression analyses were performed on cumulative abnormal returns (CAR).

Significant and positive AR were found on announcement day for firms forming marketing alliances. When the sample is segmented by market capitalization, small cap firms were found to stand to benefit the most, particularly when partnering with a large firm. During the bear market period, marketing alliances tend to benefit small cap firms and firms with low profitability, whereas during the bull market period, marketing alliances benefit firms with low asset utilization.

Results are limited by the accuracy of the models used to measure AR.

The results seem to suggest that smaller partners tend to benefit more from marketing alliance, and the effect changes with business cycle.

The paper analyses how the benefits of forming a marketing alliance are shared between partnering firms and how the different phases of business cycle influence the distribution of benefits.

The purpose of this paper is to explore the gap in the literature as well as investigate how the combination of internal marketing or innovation investments with new product introductions influences alliance type choices. Most research on marketing–innovation resource allocation decisions has focused on trade-offs in internal investments such as advertising versus research and development. Absent from this discussion is whether firms offset a weakness internally by reaching outside the boundaries of the firm through alliances. As a result, managers lack a clear understanding of the potential for complementarity using internal–external approaches to a market.

This paper draws on the resource-based view of the firm, using a longitudinal secondary data set and a choice model.

The authors find that firms that internally emphasize either marketing or innovation maintain the same approach externally with respect to alliance type choices. Thus, efforts to complement internal marketing (innovation) resource investments with innovation (marketing) alliances are not seen. However, the interaction of new product introductions with internal resource investments does result in a complementary firm approach.

The authors bridge a gap in the resource investment literature by exploring how the internal decisions impact the external alliance choices. The authors draw on longitudinal data and show that the action of making the choice is important, as it impacts future resource decisions. The authors explore the interaction between new production introductions and internal firm investments on alliance type choice. Given that new product introductions are a key to longer-term firm success, examining these relationships enhances the managerial impact.

March’s 1991 work on exploitation and exploration has been studied in many different industries. The purpose of this paper is to analyze signals emanating from exploration and exploitation alliances within the pharmaceutical industry context. Specifically, the authors explore market reactions to announcements of alliance formations based not only on alliance type but also in terms of their marketing intensity and leverage.

The authors employ a two-stage event-study market model using a two-day event window (event days 0, +1), creating cumulative abnormal returns (CARs). In the second stage, the authors regress the CARs against an array of control and explanatory variables.

Findings suggest that even though firm announcements of exploration and exploitation formations initially generate favorable market reactions, the former has a greater impact on CAR relative to the latter. Furthermore, leverage and marketing intensity moderate the relationship between firms’ alliance formation announcements and CARs generated. In particular, firms’ alliance formation announcements generate relatively greater market reactions at lower (higher) levels of the firm’s leverage (market intensity).

Event studies are valuable for gauging initial impressions of management action, but they are not meant to address long-term value creation. While market reactions suggest the likelihood of an alliance’s success or failure, managers also assess the risk to a firm’s financial health should the alliance fail. As a result, announcements that signal the firm has discretionary capabilities to ameliorate the effect of a failed alliance are better received.

This study is the first to analyze the stock market’s perception and valuation of different types of risk, classified by exploration vs exploitation alliances. The study also contributes to the literature by analyzing how investors use the information about a firm’s financial leverage and marketing activities to fine-tune their valuation of different types of risk-taking activities.

Considers two forms of strategic alliances, technological and marketing, and examines how these alliances foster formation and maintenance of intellectual capital. Empirical evidence suggests that on average, strategic alliances do create value for shareholders that is consistent with the creation of intellectual capital. Between the two, technological alliances are potentially more beneficial than marketing alliances, and more likely to create intellectual capital. Empirical evidence is consistent with the notion that the gains from alliances are not shared equally by all the partners. When intellectual capital is created by the smaller or financially weaker partner, the return may be appropriately captured by the owner of such capital through strategic alliances. However, if the intellectual capital is created by the larger or financially stronger firm which moves first in an alliance relationship, the return on this intellectual capital may be subject to opportunistic exploitation by the late moving partner.

Manufacturers of consumer goods face various problems when they attempt to integrate environmental attributes into their marketing mix. In many cases the inclusion of environmental issues in the marketing mix is largely motivated by the organization′s desire to address consumers′ increasing level of environmental awareness. However, producers face three problems when they attempt to utilize environmental marketing: a lack of credibility; consumer cynicism; consumer confusion over claims. Strategic alliances with environmental groups can assist manufacturers of consumer goods to overcome these problems, as well as provide other advantages. These other advantages are: increased consumer reliability in green products and their claims; increased access to environmental information; increased access to new markets; publicity and reduced public criticism; and education of consumers about key environmental issues relating to a firm′s product. To achieve these benefits, producers need to follow a careful selection process when choosing an environmental strategic alliance partner. This selection process includes: determine alliance objectives; specify outcomes desired; and determine the fit between the organization, environmental group, and target market.

Recent research illuminates the important contribution of organizational culture and market orientation to organizational effectiveness. In an attempt to increase the conceptual and empirical body of knowledge, explores the links between organizational culture, market orientation, and marketing effectiveness in the context of strategic marketing alliances. Analyzes responses to self‐administered questionnaires returned by 128 such organizations. The findings suggest that organizational culture significantly affects marketing effectiveness, although the individual dimensions of organizational culture have varying degrees of influence upon the dimensions of marketing effectiveness. Among mechanistic or non‐adaptive cultural dimensions, increased internal culture enhances an internal market effectiveness dimension, whereas increased external culture enhances an external market effectiveness dimension. This internal/external alignment is not found for the organic or adaptive cultural dimensions. This same internal/external alignment is found, however, when examining the relationship between market orientation and market effectiveness. Internal aspects of market orientation enhance an internal market effectiveness dimension, whereas increased external orientation enhances an external market effectiveness dimension. Discusses managerial implications.

The purpose of this paper is to explore consumers' responses to social alliances, a specific type of corporate social marketing in which companies cooperate with non-profit organizations. This paper extends previous studies that suggested that a social marketing effort may be a “double-edged sword” with regard to companies' marketing objectives.

This study uses a 2 (social value orientation: prosocials/ proselfs) × 3 (company-cause fit: high/low fit/control group) between-subjects experimental design.

The findings suggest that while prosocials reward companies for social marketing alliances with high fit, proselfs punish the company. This effect can be explained by differences in prosocials' and proselfs' perceptions of the company's corporate abilities, which are influenced by the level of fit.

Future research could give more attention to low-fit alliances, and whether specific fit dimensions play a role. It could also identify ways to overcome negative responses by proselfs in case of high fit.

Companies should be cautious in selecting a social marketing alliance partner as high fit is received favourably by some consumers, but unfavourably by others. While high fit has other benefits for companies, increasing consumers' awareness of strong corporate abilities is important.

Previous studies suggested that different consumer types and a link between the company and the cause may impact the effectiveness of social marketing initiatives. Unlike extant studies, this paper explores the combined and hence moderating influence of both factors, and adds perceived corporate abilities as a mediating factor.

This study aims to propose that, in business-to-business (B2B) industries, number of strategic alliances firms established before a “black swan” event enhances their chances to survive the black swan, and the enhancements take place through moderation effects. Changes in firms’ core structures – their stated goals, authority structure, core technologies and marketing strategies – to adapt to business jolts have adverse effects on firm performance. Firms’ existing B2B strategic alliances moderate the effects negatively by outsourcing different goals, authority structures, core technologies and marketing strategies to partners who fit the changed environment.

This study collected quantitative data and analyzed the data with the regression method.

Using data from Chinese firms in five technology industries during the 2007–2009 economic crisis, this study finds that firms’ internal adaptation is negatively correlated with their performance during economic crises, and B2B strategic alliances negatively moderate this relationship.

First, this study focuses on B2B strategic alliances, and it is not clear whether the findings apply to B2C industries, where strategic alliances may not be common. Perhaps firms can use other means of survival in addition to strategic alliances in B2C industries. Second, this study does not differentiate between fast-moving and slow-moving industries, and it is not clear whether strategic alliances play the same role in both industries. Third, this study does not differentiate firm ages and sizes. It remains unclear how large, established and small, young firms differ when facing crises. Finally, this study is based on the Chinese setting, and it is not clear whether the findings apply to other markets as well. These issues should be explored in future studies.

Changing firms’ core structures harms their performance during black swan crises because such crises are unpredictable, and planned changes may not adapt firms to crises. Managers should not attempt to change their core structures during crises. B2B strategic alliances provide an effective means for firms to survive crises.

This paper makes two contributions to the existing literature: First, this paper demonstrates that changes of one of the four core structures of a firm to cope with black swan events have negative impacts on firm performance. Second, this paper identifies the importance of holding a variety of strategic alliances previously to the black swan events to reduce the negative impacts of changing core structures.