Common use of Theoretical implications Clause in Contracts

Theoretical implications. The literature on marketing capability has been based primarily on the tenets of customer centricity. Marketing capability is often defined as superiority in identifying a customer’s needs and in understanding the factors that influence consumer choice behavior (Dutta, Narasimhan, and Rajiv 1999) as well as the ability to develop and maintain relationships with customers, including both end users and channel members (▇▇▇▇▇▇▇ and Slotegraaf 1999). While these elements of marketing capability continue to be important, I offer an extension to the scope of the discussion by introducing the ability of firms to manage a portfolio of constituent needs as an emerging marketing capability. As such, and as indicated in Table 7, CBM proposes a shift from a customer-centric view of capability towards a constituent-centric view. Particularly for firms operating in networked and competitive market environments, focusing on customer needs as the primary input in the design of product offerings can, at times, be myopic (Smith, Drumwright, and ▇▇▇▇▇▇▇ 2010). Under the CBM approach, the marketing function would evolve its role towards becoming a designer of offerings that, while looking to serve customer needs, does so in a way that accounts for the needs of multiple constituents. This transformation suggests an evolution in the role of marketing from representing the voice of the customer within a firm towards becoming the connector of constituents’ needs throughout the firm. While market networks have been discussed in marketing literature for close to 20 years, the constituent-networked economy is a new reality fueled by the presence of technological capabilities that enable interactions among constituents and consumers. New theory is required to understand how the marketplace conversation shapes brand perceptions in this new environment where information flow is no longer one-to-many (between a firm and its consumers) but many-to-many (among consumers and between consumers and other commercial and non-commercial constituents).

Theoretical implications. The literature on marketing capability has been based primarily on the tenets of customer centricity. Marketing capability is often defined as superiority in identifying a customer’s needs and in understanding the factors that influence consumer choice behavior (Dutta▇▇▇▇▇, Narasimhan▇▇▇▇▇▇▇▇▇▇, and Rajiv ▇▇▇▇▇ 1999) as well as the ability to develop and maintain relationships with customers, including both end users and channel members (▇▇▇▇▇▇▇ and Slotegraaf 1999). While these elements of marketing capability continue to be important, I offer an extension to the scope of the discussion by introducing the ability of firms to manage a portfolio of constituent needs as an emerging marketing capability. As such, and as indicated in Table 7, CBM proposes a shift from a customer-centric view of capability towards a constituent-centric view. Particularly for firms operating in networked and competitive market environments, focusing on customer needs as the primary input in the design of product offerings can, at times, be myopic (Smith, Drumwright, and ▇▇▇▇▇▇▇ 2010). Under the CBM approach, the marketing function would evolve its role towards becoming a designer of offerings that, while looking to serve customer needs, does so in a way that accounts for the needs of multiple constituents. This transformation suggests an evolution in the role of marketing from representing the voice of the customer within a firm towards becoming the connector of constituents’ needs throughout the firm. While market networks have been discussed in marketing literature for close to 20 years, the constituent-networked economy is a new reality fueled by the presence of technological capabilities that enable interactions among constituents and consumers. New theory is required to understand how the marketplace conversation shapes brand perceptions in this new environment where information flow is no longer one-to-many (between a firm and its consumers) but many-to-many (among consumers and between consumers and other commercial and non-commercial constituents).