Theories of Marketing
Summary - Business Administration - Fall 2025
Topics & Literature Overview
Topic 1: Overview of development in marketing thinking – Marketing Strategy
Marketing origins
• Narver&Slater (1990), The effect of a market orientation on business profitability, journal
of marketing, October 1990
• Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two,
strategic management journal, 19, p1001–1006
Current developments in marketing thinking
• Homburg, Jozić&Kuehnl (2017), Customer experience management: toward
implementing an evolving marketing concept, Journal of the Academy of Marketing
Science, 45, p377–401
• Achrol, R. S., & Kotler, P. (2022). Distributed marketing networks: The fourth industrial
revolution. Journal of Business Research, 150, 515–527.
Topic 2: Consumer Insights & motivations - Consumer Behavior
Consumer insights & value
• Laughlin, P. (2014), Holistic customer insight as an engine of growth, Journal of Direct,
Data and Digital Marketing Practice, 16(2), 75-79.
• Van den Driest, F., Sthanunathan, S., & Weed, K. (2016). Building an insights engine.
Harvard business review, 94(9), 64-74.
Means-end chains in marketing
• Pai, P., & Arnott D.C. (2013), User adoption of social networking sites: Eliciting uses and
gratifications through a means–end approach, Computers in Human Behavior, 29 (3),
1039-1053.
• Magids, S., Zorfas, A., & Leemon, D. (2015), The new science of customer emotions,
Harvard Business Review, 93(11), 66-76.
Topic 3: Value equity & innovation – Marketing Strategy
Value perception & delivery
• Almquist, Senior and Bloch (2016), The Elements of Value Measuring—and delivering—
what consumers really want, Harvard Business Review, September, 47-53
• Day (2011), Closing the Marketing Capabilities Gap, Journal of Marketing, Vol. 75 (July),
183–195
• Lemon,Rust& Zeithaml (2001). What drives customer equity? Marketing Management 10
(1), p20
1
,Value innovation
• Kim & Mauborgne (2005), Blue Ocean Strategy: FROM THEORY TO PRACTICE. California
Management Review, 47 (3), 105-121.
• Burke, Stel & Thurik (2010), Blue Ocean vs. Five Forces, Harvard business review, may
2010 (1 p.).
Topic 4: Consumer behavior - Consumer Behavior
Conceptual overview of behavior modification in marketing
• Nord, W. R., & Peter, J. P. (1980). A behavior modification perspective on marketing.
Journal of Marketing, 44(2), 36-47.
• Wells, V.K. (2014), Behavioural psychology, marketing and consumer behaviour: a
literature review and future research agenda, Journal of Marketing Management, 30 (11-
12), 1119-1158.
Focus on the sections:
o ‘Classical conditioning in marketing and consumer behaviour research’ and
o ‘Operant/instrumental conditioning in marketing and consumer behaviour
research.’ Do not worry about the (endless) Tables
Contemporary applications of behavioral theories in marketing
• Gelbrich, K., Gäthke, J., & Hübner A. (2017), Rewarding customers who keep a product:
How reinforcement affects customers' product return decision in online retailing,
Psychology & Marketing, 34, 853–867.
• Chen, Y., Wang, Q., & Xie, J. (2011). Online social interactions: A natural experiment on
word of mouth versus observational learning. Journal of marketing research, 48(2), 238-
254.
Topic 5: Brand & relationship equity – Marketing Strategy
Brand equity
• Dwivedi, Merrilees&Sweeney (2010), Brand extension feedback effects: a holistic
framework, Journal of Brand Management,17, 328 – 342.
• Hsu, L., Fournier, S., & Srinivasan, S. (2016). Brand architecture strategy and firm value:
how leveraging, separating, and distancing the corporate brand affects risk and returns.
Journal of the academy of Marketing Science, 44(2), 261–280.
o Focus on the argumentation part about the differences between the architecture
options and the pro's and con's of each (page 261-268) and the conclusion (page
276-278). Do not focus on the data and specific outcomes.
Relationship equity and customer equity
• Watson, Beck, Henderson & Palmatier (2015), Building, measuring, and profiting from
customer loyalty Building, Journal of the Academy of Marketing Science, Vol.43(6),
pp.790-825
• Hsieh, Chiu& Chiang (2005), maintaining a committed online customer: A study across
searchexperience-credence products, Journal of Retailing, Vol.81(1), pp.75-82
• Silveira, C., Oliveira, M. and Luce, F. (2017), Comparing alternative approaches to
estimate customer equity, Marketing Intelligence & Planning, Vol. 35 No. 5, pp. 611-625.
2
,Topic 1 – Developments in marketing thinking
This week is all about the development in marketing thinking over time. Firstly, we will discuss the
development up until the ‘modern way’ of marketing thought at the end of the previous century,
the basics of which are still topical. Then we will look at the structural changes that need to be
made in our marketing thinking, approach and actions in order to understand and thrive in an ever-
changing environment.
Introduction
Marketing origins
- Narver&Slater (1990), The effect of a market orientation on business profitability, journal
of marketing, October 1990
- Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two,
strategic management journal, 19, p1001–1006
Current developments in marketing thinking
- Homburg, Jozić&Kuehnl (2017), Customer experience management: toward
implementing an
evolving marketing concept, Journal of the Academy of Marketing Science, 45, p377–401
- Achrol, R. S., & Kotler, P. (2022). Distributed marketing networks: The fourth industrial
revolution. Journal of Business Research, 150, 515–527.
What is marketing?
Marketing is the activity set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings to deliver “customer value” & value for clients, partners and society.
Some examples of these activities are branding, digital marketing, advertising, social media and
PR.
Changing Marketing definitions AMA
1985: Marketing is the process of planning and executing conception, pricing, promotion and
distribution of goods, ideas and services to create exchanges that satisfy individual and
organizational goals. Mass oriented, transactional, product driven.
2012: Marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large. Create relationships, interact, value proportions to smaller group.
Share of market: If more people buy your product then your competitor, you have a higher share
of market.
Share of wallet: If each customer spends more on the product then you competitor – you have a
higher share of wallet.
3
, History of marketing a business philosophy (a way to approach the market)
A business can employ two mechanisms to approach the market, strategic and tactical. This is
called their business philosophy. Over the course of time, business philosophies have changed
quite a bit. Back in the day, businesses were more production orientated. This meant that they
tried to exploit the technical capabilities to the fullest extent in order to get maximized profit. Their
objective was to profit through supplying markets where the task is to allocate supplies.
After that came a more selling orientated approach. Businesses would promote the consumption
of a product in order to create demand. This would be a product that the organization is able to
make or produce as much as possible. The objective was to earn profit by persuading people to
buy certain products.
Nowadays, the Marketing Concept is the main focus
of a lot of organizations. By identifying wants and
needs of the consumers, organizations can match
them with their own organizational resources. This
way, they profit through the provision of customer
satisfaction by meeting their needs and wants. Those
needs and wants is what creates value for an
organization.
Two main marketing decisions
1. Segmentation: Understanding consumers → Consumer behaviour
2. Value differentiation: Creating customer value → Marketing strategy
a. E.g. Wii, Xbox, Playstation – Zelfde segment maar hebben een andere
consumenten / doelgroep met andere behoeften
Even in Marketing research, the perspective has shifted from a ‘how to’ to a ‘what and why’.
Instead of looking at promotion, pricing, place and product effects, researchers ask themselves
what the needs, wants, effects and reactions of the consumer are. Other important topics in
research are innovation, customer journeys, branding and customer relationships.
4
Summary - Business Administration - Fall 2025
Topics & Literature Overview
Topic 1: Overview of development in marketing thinking – Marketing Strategy
Marketing origins
• Narver&Slater (1990), The effect of a market orientation on business profitability, journal
of marketing, October 1990
• Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two,
strategic management journal, 19, p1001–1006
Current developments in marketing thinking
• Homburg, Jozić&Kuehnl (2017), Customer experience management: toward
implementing an evolving marketing concept, Journal of the Academy of Marketing
Science, 45, p377–401
• Achrol, R. S., & Kotler, P. (2022). Distributed marketing networks: The fourth industrial
revolution. Journal of Business Research, 150, 515–527.
Topic 2: Consumer Insights & motivations - Consumer Behavior
Consumer insights & value
• Laughlin, P. (2014), Holistic customer insight as an engine of growth, Journal of Direct,
Data and Digital Marketing Practice, 16(2), 75-79.
• Van den Driest, F., Sthanunathan, S., & Weed, K. (2016). Building an insights engine.
Harvard business review, 94(9), 64-74.
Means-end chains in marketing
• Pai, P., & Arnott D.C. (2013), User adoption of social networking sites: Eliciting uses and
gratifications through a means–end approach, Computers in Human Behavior, 29 (3),
1039-1053.
• Magids, S., Zorfas, A., & Leemon, D. (2015), The new science of customer emotions,
Harvard Business Review, 93(11), 66-76.
Topic 3: Value equity & innovation – Marketing Strategy
Value perception & delivery
• Almquist, Senior and Bloch (2016), The Elements of Value Measuring—and delivering—
what consumers really want, Harvard Business Review, September, 47-53
• Day (2011), Closing the Marketing Capabilities Gap, Journal of Marketing, Vol. 75 (July),
183–195
• Lemon,Rust& Zeithaml (2001). What drives customer equity? Marketing Management 10
(1), p20
1
,Value innovation
• Kim & Mauborgne (2005), Blue Ocean Strategy: FROM THEORY TO PRACTICE. California
Management Review, 47 (3), 105-121.
• Burke, Stel & Thurik (2010), Blue Ocean vs. Five Forces, Harvard business review, may
2010 (1 p.).
Topic 4: Consumer behavior - Consumer Behavior
Conceptual overview of behavior modification in marketing
• Nord, W. R., & Peter, J. P. (1980). A behavior modification perspective on marketing.
Journal of Marketing, 44(2), 36-47.
• Wells, V.K. (2014), Behavioural psychology, marketing and consumer behaviour: a
literature review and future research agenda, Journal of Marketing Management, 30 (11-
12), 1119-1158.
Focus on the sections:
o ‘Classical conditioning in marketing and consumer behaviour research’ and
o ‘Operant/instrumental conditioning in marketing and consumer behaviour
research.’ Do not worry about the (endless) Tables
Contemporary applications of behavioral theories in marketing
• Gelbrich, K., Gäthke, J., & Hübner A. (2017), Rewarding customers who keep a product:
How reinforcement affects customers' product return decision in online retailing,
Psychology & Marketing, 34, 853–867.
• Chen, Y., Wang, Q., & Xie, J. (2011). Online social interactions: A natural experiment on
word of mouth versus observational learning. Journal of marketing research, 48(2), 238-
254.
Topic 5: Brand & relationship equity – Marketing Strategy
Brand equity
• Dwivedi, Merrilees&Sweeney (2010), Brand extension feedback effects: a holistic
framework, Journal of Brand Management,17, 328 – 342.
• Hsu, L., Fournier, S., & Srinivasan, S. (2016). Brand architecture strategy and firm value:
how leveraging, separating, and distancing the corporate brand affects risk and returns.
Journal of the academy of Marketing Science, 44(2), 261–280.
o Focus on the argumentation part about the differences between the architecture
options and the pro's and con's of each (page 261-268) and the conclusion (page
276-278). Do not focus on the data and specific outcomes.
Relationship equity and customer equity
• Watson, Beck, Henderson & Palmatier (2015), Building, measuring, and profiting from
customer loyalty Building, Journal of the Academy of Marketing Science, Vol.43(6),
pp.790-825
• Hsieh, Chiu& Chiang (2005), maintaining a committed online customer: A study across
searchexperience-credence products, Journal of Retailing, Vol.81(1), pp.75-82
• Silveira, C., Oliveira, M. and Luce, F. (2017), Comparing alternative approaches to
estimate customer equity, Marketing Intelligence & Planning, Vol. 35 No. 5, pp. 611-625.
2
,Topic 1 – Developments in marketing thinking
This week is all about the development in marketing thinking over time. Firstly, we will discuss the
development up until the ‘modern way’ of marketing thought at the end of the previous century,
the basics of which are still topical. Then we will look at the structural changes that need to be
made in our marketing thinking, approach and actions in order to understand and thrive in an ever-
changing environment.
Introduction
Marketing origins
- Narver&Slater (1990), The effect of a market orientation on business profitability, journal
of marketing, October 1990
- Slater and Narver (1998) Customer-led and market-oriented, let’s not confuse the two,
strategic management journal, 19, p1001–1006
Current developments in marketing thinking
- Homburg, Jozić&Kuehnl (2017), Customer experience management: toward
implementing an
evolving marketing concept, Journal of the Academy of Marketing Science, 45, p377–401
- Achrol, R. S., & Kotler, P. (2022). Distributed marketing networks: The fourth industrial
revolution. Journal of Business Research, 150, 515–527.
What is marketing?
Marketing is the activity set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings to deliver “customer value” & value for clients, partners and society.
Some examples of these activities are branding, digital marketing, advertising, social media and
PR.
Changing Marketing definitions AMA
1985: Marketing is the process of planning and executing conception, pricing, promotion and
distribution of goods, ideas and services to create exchanges that satisfy individual and
organizational goals. Mass oriented, transactional, product driven.
2012: Marketing is the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and society
at large. Create relationships, interact, value proportions to smaller group.
Share of market: If more people buy your product then your competitor, you have a higher share
of market.
Share of wallet: If each customer spends more on the product then you competitor – you have a
higher share of wallet.
3
, History of marketing a business philosophy (a way to approach the market)
A business can employ two mechanisms to approach the market, strategic and tactical. This is
called their business philosophy. Over the course of time, business philosophies have changed
quite a bit. Back in the day, businesses were more production orientated. This meant that they
tried to exploit the technical capabilities to the fullest extent in order to get maximized profit. Their
objective was to profit through supplying markets where the task is to allocate supplies.
After that came a more selling orientated approach. Businesses would promote the consumption
of a product in order to create demand. This would be a product that the organization is able to
make or produce as much as possible. The objective was to earn profit by persuading people to
buy certain products.
Nowadays, the Marketing Concept is the main focus
of a lot of organizations. By identifying wants and
needs of the consumers, organizations can match
them with their own organizational resources. This
way, they profit through the provision of customer
satisfaction by meeting their needs and wants. Those
needs and wants is what creates value for an
organization.
Two main marketing decisions
1. Segmentation: Understanding consumers → Consumer behaviour
2. Value differentiation: Creating customer value → Marketing strategy
a. E.g. Wii, Xbox, Playstation – Zelfde segment maar hebben een andere
consumenten / doelgroep met andere behoeften
Even in Marketing research, the perspective has shifted from a ‘how to’ to a ‘what and why’.
Instead of looking at promotion, pricing, place and product effects, researchers ask themselves
what the needs, wants, effects and reactions of the consumer are. Other important topics in
research are innovation, customer journeys, branding and customer relationships.
4
