英语论文网

Marketing actions will affect market performance. Market share and revenue are the common metrics for measuring market performance. Market performance will shape the Financial Performance of the firm (profit, cash flow, etc). This financial performance, combined with the financial risks (systematic and unsystematic risks), will be taken as the inputs for firm valuation, resulting Firm Value. Firm value determines the stock price and finally market capitalization (stock price x number of stock outstanding).

The following empirical articles will be evaluated in conjunction with its support to the integrated framework and the respective metrics.

KUM provides empirical support to the concept in SRIV-1 article. This article showed 32.8% increase in the stock price for B2B firm and 57.6% increase in B2C after the implementation of CRM strategies. This lift is even outperform the S&P 500 during the observation window by 2 times in B2B firm, and by 3.6 times in B2C firms. It confirms an increase in abnormal return, as a result of implementing market-based asset strategy.

CE metric shows the ability to predict the market capitalization (MC) of the firm. Calculation shows that the lift in MC (in percentage terms) is three times as much when acquisition and cross-selling efforts are targeted only to high-CLV customers rather than to all customers of the firm. This proves that leveraging customer management strategies is effective to increase stock price and in the end increase MC.

The empirical study on the 108 firms and 22,060 trademarks evaluates the financial value of branding by linking trademark registrations of firms with their financial performance. An interesting finding is that brand-association trademarks positively affect firm cash flows, Tobin’s q, ROA, and stock returns. Most importantly, each additional brand association trademark is associated with $7.8 million of future cash flows, a 0.05% increase in future ROA and a 0.3% increase in the future stock return of a firm. This complies with the conceptual framework in SRIV-1, that market-based asset (in this case the brand) will affect the shareholder value. And support the key driver values of Rappaport (1983) in the aspect of accelerating cash flow (by earlier brand trials and referrals), enhancing cash flow (strong brand equity helps firms generate higher revenue premiums), reducing volatility in cash flow (reduce vulnerability to competitive actions), enhancing the residual value of cash flow (by increasing long-term effectiveness of promotions).

SWA article shows the result that announcement of marketing alliance increases stock return 1.4%. The event study that captures the immediate short term reaction of the stock market to the alliance shows that there is an abnormal return as the result of this announcement. This increase is coming as the result of transferring the multiply of value created in the announced alliance because the firms now can overcome the geographical barriers, market barriers, and also industry barriers.

Findings from SWA article elaborate further that marketing alliance can increase the level and speed of firm cash flows due to the new access to the new market and due to the ability of the alliance to本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。