Journal of Marketing

The author draws on many years of experience in industry, consulting and education. He discusses the new complexities of the business environment that account for higher risks in product management and strategy. Both risks and penalties for product failure are increasing. Therefore, improving the effectiveness and profitability in product policy and strategy represents new management imperatives.

Models employed in the analysis and planning of four critical areas of new product management are reviewed in this article. Emphasis is placed on the role these models play in improving information handling and organizational performance.

The past, present, and future role of advertising and promotion as seen by many of today's top business executives is described by the author. The article also reports some of the organizational and functional changes in advertising and promotion personnel made during the past 15 years.

The promotional and marketing communication efforts of a business can be greatly improved through proper application of behavioral and quantitative tools. What tools have been used to improve marketing communication? How will the application of these tools affect future research and business practice?

The degree of coordination among activity stations in a channel is a measure of the competitive position of that system. The author discusses problems of channel control. He presents a model of the control process that should provide new insight into channel processes and a basis for improved strategies for attaining desired levels of coordination.

Pricing practice remains largely intuitive and routine. To gain insight as to why, the author examines critically some of the trends and gaps in the literature and practice. A comprehensive and systematic guide to successful price setting is offered.

Marketing is widely viewed as a subject serving the interest of sellers. Buyers are typically studied from the perspective of helping sellers achieve their objectives. Earlier students of marketing studied both parties to the market transaction and how each pursued their marketing advantage. The buyer has a broad range of marketing strategies available to increase the chances of consummating the desired transaction. This article attempts to restore interest among marketing practitioners and scholars in the objectives and strategies of the buyer.

Department stores in the United States have recently experienced a decline in corporate financial performance, particularly in the profitability of merchandising operations. The use of a refined version of the return-on-investment measure is suggested as a means of improving the financial performance of retail merchandising decisions. Results of a simulated experiment are reported indicating the positive effects on merchandising profitability of using the suggested return-on-investment decision criterion.