Art Weinstein

The Effect of Market Orientation and Organizational Flexibility on Corporate Entrepreneurship

Corporate entrepreneurship (CE), flexibility (F), and market orientation (MO) are being recognized as key success factors in our increasingly competitive, global economy. This study builds a model (CEFMO) and examines the relationships among these factors and the relationship between these variables and business performance. All of these factors are controllable by management. Practical application of this research can lead to increased effectiveness for the firm and benefits for the firms stakeholders.

Marketing Journal Rankings Revisited: Research Findings and Academic Implications

The purpose of this study is to update perceived quality rankings of leading academic marketing journals by sending questionnaires to chairpersons of marketing departments in AACSB accredited business schools. The latest top ten journal rankings are: 1) Journal of Consumer Research, 2) Journal of Marketing, 3) Journal of Marketing Research, 4) Marketing Science, 5) Journal of the Academy of Marketing Science, 6) Journal of Retailing, 7) Journal of Advertising Research, 8) Journal of Advertising, 9) Journal of Public Policy & Marketing, and 10) Journal of Macromarketing. This study builds on work by Browne and Becker and Luke and Doke and offers important implications for marketing scholarship.

Marketing Mix Factors as Moderators of the Corporate Entrepreneurship - Business Performance Relationship - A Multistage, Multivariate Analysis

This study establishes a strong link between firms’ corporate entrepreneurship (CE) behavior and business performance. It also examines whether the implementation of the marketing mix factors of promotion, product quality, and pricing moderate this relationship. Using moderated multiple regression techniques, these factors are not general moderators of the CE - performance relationship. Using robust regression and other advanced statistical techniques, however, the research finds that for certain groups, such as large industrial or consumer marketers, individual marketing mix factors do moderate this relationship. In addition, the research shows that the CE - business performance correlation is strong with medium size firms and even stronger with large firms.

A strategic framework for defining and segmenting markets

A market consists of customers (actual and potential), needs, products, technologies and competitors. One of the most difficult challenges managers face is how to define relevant and pre‐segmented markets. A market definition too narrow limits potential opportunities; one too large leads to mass marketing thinking and can make an organizations efforts and resources seem almost insignificant. This article reviews useful market terminology and explains how a field‐tested, multipartite framework which is rooted in the strategic marketing literature can be used for developing practical and optimal market definitions and segmentation approaches for business and high‐tech companies. In addition, managenal and academic implications of this new approach are presented.

Creative climate: a critical success factor for 21st century organisations

Organisations often fail to recognise the internal factors that lead to better strategy development and facilitate implementation thereby increasing business performance. The critical success factors of creative culture, learning orientation (LRN), entrepreneurial orientation, market orientation (MKT) and organisational flexibility can be as important to performance as external factors such as the economy or competition. This paper takes a holistic perspective and examines the relationships between these factors and performance. All five of these factors are highly correlated with each other and with organisational performance. As a whole, the factors account for 30% of the variation of organisational performance. In addition, the study demonstrated the moderating effects of creative climate with LRN and its minimal moderating effects with MKT.

Segmenting technology markets: applying the nested approach

Purpose – Sound target marketing leads to winning business strategies. While market segmentation is an intriguing academic concept, most B2B practitioners struggle with the design and implementation of such initiatives. This paper aims to illustrate an effective strategic segmentation process in a high‐technology market context.Design/methodology/approach – Bonoma and Shapiros nested model – consisting of geodemographics, operating variables, purchasing approaches, situational factors and characteristics of the buyer – is used as a conceptual framework for market segmentation analysis. The model is applied to Citrix Systems as a way of finding new business opportunities in the desktop application streaming market.Findings – In this study, 17 potential segmenting variables within the five major levels are examined with an initial emphasis on firmographics and technology. Census data identified market priorities based on establishment size, key sectors and geographic sales territories.Practical implication...

Corporate Entrepreneurship, The Marketing Mix, and Business Performance

Relationships are examined among a firm’s corporate entrepreneurship (CE) behavior; pricing, product, and promotional strategy components; and business performance. There is a positive correlation between CE and each of these mix factors; and between CE and business performance. There are stronger relationships between the marketing mix factors within consumer than industrial firms.

Segmenting B2B Technology Markets via Psychographics: An Exploratory Study

This article examines how marketing executives employ psychographics as part of their target marketing strategy in business technology markets. In spite of the increased attention in the recent business-to-business segmentation literature, psychographics is not used as a major segmentation dimension (only one in five companies used this base). Psychographic thinking without formal analysis, however, was a commonly used strategy evidenced by 59% of the companies. While there was no difference in target marketing success found between formal and informal psychographics, both approaches fared significantly better than firms not bringing a psychographic mindset to their segmentation strategy. Firmographic and demographic variables did not impact the use of organizational psychographics. Motivation, relationship and risk variables were used by marketing managers as psychographic inputs. Implications for management practice and a research agenda for segmentation scholars are presented.

Case Study - How a Business School Blog Can Build Stakeholder Relationships and Create Added Value in an MBA Marketing Program

Abstract Innovation, market orientation, and creative collaboration allow the smartest – not necessarily the biggest – organizations to win in the marketplace. This approach to competitive strategy is applicable in a wide variety of market contexts including business, information, and professional services. In this case study, we explain how one business school delivered enhanced value for its two primary target markets – MBA students and the business community. This was accomplished by designing a strategic communication tool (a faculty blog) to gain a competitive edge in the crowded graduate business education market in South Florida. We clearly demonstrate that organizations can create and add value by activating and implementing corporate entrepreneurial processes, programs, and activities as part of their strategic and competitive marketing efforts. This can be in the form of customer relationship management-oriented blogs or other initiatives. Engaging current and prospective customers and stakeholders is extremely important to success in today’s service-driven competitive educational marketplace and marketspace.

Rethinking business segmentation: a conceptual model and strategic insights*

Abstract Segmenting business markets is challenging but potentially highly rewarding. An in-depth understanding of how to segment markets is necessary to guide the best decisions leading to profitable targeting. Business markets are changing rapidly due to new technology and a more complex business environment. Current segmentation frameworks are not sufficient to guide business-to-business (B2B), business-to-business-to-business (B2B2B), and business-to-business-to-consumer (B2B2C) market analyses. Thus, new strategic segmentation insights are required. This paper introduces and tests a new six-cell business market typology building on two key segmentation dimensions – product use by intermediaries in their marketing (B2B, B2B2B, and B2B2C) and product standardization (standardized or customized products). Examples are developed showing how this model is used by organizational marketers, research findings are presented, and a research agenda is proposed to fill the gap in the literature – i.e. understand the new model and apply appropriate business segmentation criteria.