MARKETING SCIENCE INSTITUTE

CAPITAL TOPICS

MSI's capital topics are issues identified by a majority of member firms as being sufficiently significant and timely that they deserve intensive research attention. Research proposals that address these topics are especially encouraged, and it is likely that MSI will hold conferences, organize research competitions, and possibly commission studies on these topics.

OTHER PRIORITIES

A number of other topics received support from a significant proportion of trustees. Research on these is also encouraged.

THE 1994-1996 RESEARCH PRIORITIES

We began developing the 1994-1996 priority topics by holding regional meetings during late 1993 and early 1994 with member company representatives and academics in Austin, Texas; Palisades, New York; London, England; Chicago, Illinois; and San Francisco, Califomia. We then circulated summaries of these meetings to member company Trustees, who further refined and prioritized the topics at the semi-annual trustees meeting in April 1994. Based on all of this input, we developed a ballot for a final vote by the Trustees. The priorities described here reflect the results of that balloting. The topics were selected as priorities on the basis of their importance and relevance to the interests of member companies as well as their researchability and potential to have an impact on the field. Within the general framework of the priorities, we welcome research in areas where MSI has already made significant contributions (e.g., market orientation, using information, and brand equity) as long as the research extends the boundaries of past work. Under-researched topics are also appealing tar- gets for research. C)n the other hand, "me-too" studies in mature areas are of less interest. The priorities are substantive rather than methodological; the researcher is free to select the appropriate methodology. Topics are arranged in order of importance, as are sub-topics within each topic. The number of *'s next to a sub-topic indicate its degree of support in the balloting. The three leading topics have been designated Capital Topics, as explained below.

CAPITAL TOPICS

Successfully Introducing Really New Products

The topic receiving the greatest support was really new products, that is, products or services which create, or at least substantially expand, a category rather than reallocate shares. These products typically are hard to forecast, have long lead times, and often require both customer learning and the development of infrastructure and complementary products (e.g., software) before they take off.

  • **** Forecasting adoption/diffusion; incorporating customer reactions and input
  • **** Anticipating future scenarios
  • *** Market driving versus market driven development; the benefits of leading vs. following
  • *** Discovering and creating new products and services
  • * Appropriate nurture (e.g., internal venturing), screening, and evaluation of really new products
  • * Dealing with suppliers, channels, and end users

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Market Orientation

The general topic of an outward, learning orientation remains a major interest. Both practitioners and academics called for more work in this area, especially on aspects related to understanding customers.

  • ****Methods for getting close to customers
  • *** Achieving customer focus
  • *** Tracking customer expectations and customer values
  • * Implementing market orientation with employees, suppliers
  • * Structuring information and information flows through the organization
  • * Encouraging flexibility, innovation, and risk taking

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Customer Relationships

Closely related to the general topic of market orientation were the more specific issues of establishing and maintaining customer relationships. Particular emphasis was placed on valuing customers and serving those who have the greatest value, as well as the importance of viewing customers as long-term partners.

  • **** Segmentation; identifying and sustaining relations with the "right" (profitable) customers
  • *** Customers as assets/partners; measuring the value of customers
  • *** Customer management, data-base marketing, and cross-selling
  • ** Achieving short-run satisfaction vs. long-term value
  • ** Benefits vs. costs of mass customization
  • * Total customer experience

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OTHER PRIORITIES

Information Technology and the Information Highway

  • Impact on the future of communication and advertising
  • Methods for dealing with information
  • Impact on channels and direct sales
  • Customer acceptance of interactive media

    • Marketing Engineering and Empirical Generalization

  • Measuring the effect of marketing activities
  • Measuring key constructs (e.g., equity, satisfaction) and their effect on performance (e.g., loyalty, share, profits)
  • Establishing empirical generalizations across existing data, studies; meta analysis

    • Managerial Use of Information

  • Dealing with the information load/overload; developing decision aids and aggregating data
  • Assessing the value of marketing research
  • Characteristics of useful information (form and content)
  • Methodologies for interpreting information and data
  • How managers make (competitive) decisions

    • Brand Equity and Product Management

  • Brand equity as a performance measure
  • Brand extensions and their impact on equity
  • Category vs. brand management; management of brand equity
  • Managing co-branding; picking partners, who owns the customer

    • Marketing Function, Structure, Culture, and Intrafirm Relations

  • Appropriate performance measures (e.g., loyalty, growth, share, profits, customer value, societal value)
  • Impact of information technology on the marketing function
  • Employee satisfaction, customer retention, and performance; impact of restructuring
  • Role of marketing vs. top management, other functions (e.g., manufacturing); defunctionalizing business

    • Channels and Sales

  • The relation of channel and brand equity
  • Impact of direct marketing via the information highway on channels and sales forces
  • Changes in channels; new channels
  • Developing and co-ordinating partnerships in the value chain
  • Manufacturer/retailer relationships
  • Integrated logistics systems; division of profits, responsibilities

    • Service

  • Measuring the impact of customer satisfaction on performance
  • The blending of service and product and implications for satisfaction measurement
  • Improving the performance of customer contact people
  • The role of self-service

    • Marketing Communication and Promotion

  • The long-run impact of advertising
  • Evaluating advertising in new electronic media
  • Integrated marketing communications
  • Long-term impact of promotions for different types of products

    • Pricing

  • Measuring and pricing for total value delivered
  • Pricing in complex competitive markets
  • Pricing to sustain relationships with the "right" (profitable) customers

    • Global Marketing

  • Research methods across cultures
  • The balance between global and local; mass vs. niche

    • Public Policy

    Privacy and the ownership of customer information


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