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Led by German-born Carl Laemmle, Universal Pictures devoted itself to winning over the German market in the interwar period. Yet the German market proved difficult to crack, owing to political risk and cultural distance. We argue that cultural differences kept most American films from becoming more successful, even those that were shown in German theaters and prior to the advent of sound film. Universal Pictures resorted to a film strategy of localization using German actors and directors, which proved a winning formula just as the Nazis came to power.
Firms with high levels of organization capital (OK), a firm-specific production factor provided by key employees, are known to be risky and earn high stock returns. We argue that fragility of OK (i.e., its sensitivity to potential disruptions) is an independently important dimension of this risk. We proxy for fragility by the size of the top management team and show that firms with small teams outperform firms with big teams by 5% annually. The return spread increases in the level of OK and correlates with the outside options of top executives. Further supporting our interpretation, shocks to team composition from unexpected deaths of chief executive officers cause larger value losses in smaller teams.
Marketing in the digital age poses major challenges for traditional and established practices of communication. To help readers meet these challenges Principles of Integrated Marketing Communications: An Evidence-based Approach provides a comprehensive foundation to the principles and practices of integrated marketing communications (IMC). It examines a variety of traditional and digital channels used by professionals to create wide-reaching and effective campaigns that are adapted for the aims of their organisations. This edition has been thoroughly revised and each chapter includes: case studies of significant and award-winning campaigns from both Australian and international brands that illustrate the application of explored concepts; discussion and case study questions that enable readers to critically evaluate concepts and campaigns; a managerial application section that illustrates how concepts can be applied effectively in a real situation; a 'further thinking' section that expands knowledge of advanced concepts and challenges readers to think more broadly about IMC.
Firms from transforming economies can leverage the characteristics of their location to develop innovative business models before internationalizing. This note showcases ByteDance's innovative business model for its TikTok app, which became one of the most downloaded apps globally. ByteDance used its large and increasingly demanding home market to experiment with creative combinations of business model elements to develop a unique business proposition that positions the TikTok app as a hybrid of social networking and video-sharing. In addition, TikTok benefitted from China's IT strength supported by national high-tech policy to an AI-based recommendation algorithm as a non-location bound resource. TikTok shows that firms from transforming economies can launch successful global products through business model innovation.
How might imperialist, masculinist and white supremacist grips on leadership be loosened? In this thought-provoking and accessible new study, Helena Liu suggests that anti-racist feminism can challenge conventional models and practices of power. Combining a critical review of leadership theory with enlightening examples from around the world, the book shows how the intellectual and activist elements of feminist movements provide antidotes to contemporary leadership research and practice. For those interested in management, organisation, feminism, race and many more studies, it sets the agenda for a radical reimagining of control and leadership in all its forms.
This chapter begins with a message about the importance of diagnoses before developing a marcoms campaign. We then use the idea of communication barriers to help explain why creating an effective marcoms campaign is so challenging, before providing a broad understanding of what integrated marketing communications (IMC) is and why it is used. The chapter discusses both the theory and practice of achieving integration and synergy, and how synergistic effects come about. The managerial application of integration is also discussed, and its complexity is brought to life with the award-winning case of 'Magnum Gold?!' This chapter also provides a nine-step IMC planning model, including the importance of understanding how consumers make decisions. The consumer decision journey is suggested as a useful model, illustrated with another award-winning case involving the Korean car maker, Hyundai, which broke into the consideration set of United States car buyers during the global financial crisis.
We have now come to the end of the book, with much discussion and a lot to absorb along the way. As we noted in chapter 1, the philosophy that marcoms campaigns must be both effective and efficient underpins this book. To be effective and efficient, many elements need to work together. This integrative review chapter provides an overview of the lessons you have learned in this book, summarised into different core themes. Yet this knowledge is useless if they cannot be implemented. In this chapter, we also discuss why IMC implementations have often failed. Finally, we conclude with a word on ethics in IMC and a look into the future of marketing as it becomes more technologically driven.
The chapter is about brand positioning, one of the most important concepts in advertising. We can think of positioning as akin to impression management, first discussed by sociologist Ervin Goffman in the 1950s. Impression management means that we present a certain image of ourselves to others, which serves a functional (or instrumental) purpose. In Goffman’s terms, brand positioning is an impression we want to evoke in the mind of the target audience about the brand. In creating this impression, we also sometimes re-create an impression of competing brands, and this is where the topic of positioning becomes especially interesting. Ultimately, positioning is about creating an impression that allows a brand to differentiate itself from its competition. The objective is to create brand associations that will predispose people to choose the brand over others, and ultimately to build brand equity. If all subsequent executions are well implemented, then consumers will come to prefer a brand over the competition. This, in essence, is the ultimate goal of positioning and branding.