Third-Party Recognition for Design Excellence in B2B Markets and Its Impact on Firm Value: A Demand Shock Perspective
Event Date: 10 October 2017
Speaker: Professor Eric Boyd, James Madison University
Time: 2pm
Location: Cathedral Wing, CW405. Tea, coffee and cakes will be provided from 1.30pm.
Professor Eric Boyd will talk on the topic set out below which is based on a paper that is currently being revised for second round review at Journal of Marketing.
He will also provide an “insiders” look into publishing in JBR based on his current experiences as Associate Editor at the journal.
Please confirm your attendance with Christina MacLean (christina.maclean@strath.ac.uk).
Abstract: Third-party recognition for design excellence is often viewed by managers and marketing researchers as an event triggering the success of a product with a good design. However, the market landscape is littered with products that failed to achieve great financial success despite being recognized for their design excellence. Although marketing researchers have devoted considerable attention to the issue, several shortcomings characterise research on the topic including conflicting empirical results, limited theoretical conceptualization, and a little consideration for B2B markets. Based on a matched sample analysis, this study shows that (1) investor concern for management of the demand shift accompanying third-party recognition for design excellence significantly influences the value B2B firms create from the recognition and (2) factors related to product-market (product age, customer portfolio concentration, and customer service level) and CEO functional experience (marketing experience, sales experience and finance experience) influence value creation. Theoretically, the findings provide a new conceptualisation of when and why third-party recognition triggers success for superior product designs. The new conceptualisation also explains the presence of conflicting results found in prior research and reveals several new research areas related to product design, third-party recognition, and marketing’s value within top management. Managerially, the results identify several facilitating conditions that enable B2B firms to create greater value from pursuing an innovation strategy based on superior design.
Published: 20 March 2018
