文档介绍：How Does Financial Performance Affect
Marketing? Studying the Marketing-
Finance Relationship From a Dynamic
Perspective
Mitchell J. Lovett
Duke University
Jason B. MacDonald
Boise State University
In this article, the authors provide a dynamic framework Hanssens 2004; Srivastava, Shervani, and Fahey 1998,
for understanding the relationship between marketing and 1999). These studies implicitly assume that marketing
financial performance. They suggest that firms market to influences stock prices and other financial market mea-
financial markets as well as to consumption markets and sures, such as return on investment (., Narayanan,
that some mixture provides superior long-term perfor- Desiraju, and Chintagunta 2004), through a firm's perfor-
mance. The authors discuss the potential pitfalls of over- mance in the consumption market. We suggest that mar-
emphasizing one market to the detriment of another and keting actions can influence financial markets as well as
then provide a theoretical model of the factors that influ- consumption markets. They can affect stock prices indi-
ence the extent of marketing to financial markets. This is rectly through market share and profitability, and directly
followed by a discussion of implications for theory, by altering the perceptions of analysts and investors
practice, and future research