The value of quality

Marketing Science

Volumn 26, Issue 6, 2007, Pages 758-773

  Tellis, Gerard J ^a   Johnson, Joseph ^b  

^a UNIVERSITY OF SOUTHERN CALIFORNIA   (United States)

^b 508 Kosar Epstein Building ^*  (United States)

Author keywords

New products; Published reviews; Quality; Stock returns

Indexed keywords

EID: 38549148400     PISSN: 07322399     EISSN: 1526548X     Source Type: Journal    
DOI: 10.1287/mksc.1070.0286     Document Type: Article

References (63)

1. Aaker, D. A. 1995. Building Strong Brands. The Free Press, New York.
2. Aaker, D. A., R. Jacobson. 1994. The financial information content of perceived quality. J. Marketing Res. 31(May) 191-201.
3. Agarwal, J., W. A. Kamakura. 1995. The economic worth of celebrity endorsers: An event study analysis. J. Marketing 59(July) 56-62.
4. Archibald, R. B., C. A. Haulman, C. E. Moody, Jr. 1983. Quality, price, advertising, and published quality ratings. J. Consumer Res. 9(March) 347-356.
5. Ball, R., P. Brown. 1968. An empirical evaluation of accounting income numbers. J. Accounting Res. 6(2) 159-178.
6. Boehmer, E., A. Poulsen, J. Musumeci. 1991. Event study methodology under conditions of event-induced variance. J. Financial Econom. 30 253-272.
7. Buzzell, R., F. Wiersema. 1981. Modeling changes in market share: A cross-sectional analysis. Strategic Management J. 2(JanuaryFebruary) 27-42.
8. Buzzell, R., B. Gale, R. Sultan. 1975. Market share - A key to profitability. Harvard Bus. Rev. 53(January-February) 97-106.
9. Campbell, J. Y., A. W. Lo, A. C. MacKinlay. 1997. The Econometrics of Financial Markets. Princeton University Press, Princeton, NJ.
10. Carpenter, G. S., K. Nakamoto. 1989. Consumer preference formation and pioneering advantage. J. Marketing Res. 26(3) 285-298.
11. Chandy, R. K., G. J. Tellis, D. J. Macirinis, P. Thaivanich. 2001. What to say when: Advertising appeals in evolving markets. J. Marketing Res. 38(November) 399-414.
12. Chaney, P. K., T. M. Devinney, R. S. Winer. 1991. The impact of new product introductions on the market value of firms. J. Bus. 64(4) 573-610.
13. Curry, D., D. Faulds. 1986. Indexing product quality: Issues, theory, and results. J. Consumer Res. 13 134-143.
14. DeBondt, W., R. Thaler. 1985. Does the stock market overreact? J. Finance 40 793-805.
15. Deutschman, A. 2004. The kingmaker. Wired (May), http://www. wired.com/wired/archive/12.05/mossberg.html?pg=l&topic= mossberg& topic_set.
16. Dodds, W. B., B. K. Monroe, D. Grewal. 1991. Effects of price, brand, and store information on buyers product evaluations. J. Marketing Res. 28(August) 307-319.
17. Dolley, J. 1933. Characteristics and procedure of common stock split-ups. Harvard Bus. Rev. 11 316-326.
18. Einhorn, H. J., R. Hogarth. 1978. Confidence in judgement: Persistence in the illusion of validity. Psych. Rev. 85(5) 395-416.
19. Eliashberg, J., S. M. Shugan. 1997. Film critics: Influcncers or predictors? J. Marketing 61 68-78.
20. Fama, E. F. 1970. Efficient capital markets: A review of theory and empirical work. J. Finance 25(2) 383-417.
21. Fama, E. F. 1991. Efficient capital markets: II. J. Finance 46 1575-1617.
22. Fama, E. F. 1998. Market efficiency, long term returns and behavioral finance. J. Financial Econom. 49 283-306.
23. Fama, E., L. Fisher, M. Jensen, R. Roll. 1969. The adjustment of stock prices to new information. Internat. Econom. Rev. 10 1-21.
24. Geyskens, I., K. Giclens, M. G. Dckimpe. 2002. The market valuation of Internet channel additions. J. Marketing 66 102-119.
25. Golder, P. N., G. J. Tellis. 1993. Pioneering advantage: Marketing logic or marketing legend. J. Marketing Res. 30(2) 158-170.
26. Hjorth-Andersen, C. 1984. The concept of quality and the efficiency of markets for consumer products. J. Consumer Res. 11(September) 708-718.
27. Horowitz, J. L., T. Loughran, N. E. Savin. 2000. The disappearing size effect. Res. Econom. 54 83-100.
28. Horsky, D., P. Swyngedouw. 1987. Does it pay to change your company's name? A stock market perspective. Marketing Sci. 6(4) 320-335.
29. Houston, M. B., S. A. Johnson. 2000. Buyer-supplier contracts versus joint ventures: Determinants and consequences of transaction structure. J. Marketing Res. 37 1-15.
30. Ittner, C., D. F. Larcker. 1997. Product development cycle time and organizational performance. J. Marketing Res. 34(February) 13-23.
31. Jacobson, R., D. Aaker. 1987. The strategic role of product quality. J. Marketing 51(October) 31-44.
32. Kahneman, D., A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 47(March) 263-291.
33. Kalyanaram, G., W. T. Robinson, G. L. Urban. 1995. Order of market entry: Established empirical generalizations, emerging empirical generalizations and future research. Marketing Sci. 14(3) 212-221.
34. Kamakura, W. A., B. T. Ratchford, J. Agarwal. 1988. Measuring market efficiency and welfare loss. J. Consumer Res. 25(3) 289-302.
35. Koku, P. S., H. S. Jagpal, P. V. Viswanath. 1997. The effect of new product announcements and preannouncements on stock price. J. Market-Focused Management 2(2) 183-199.
36. Kopalle, P., D. Hoffman. 1992. Generalizing the sensitivity conditions in an overall index of product quality. J. Consumer Res. 18 530-535.
37. Kordupleski, R. E., R. T. Rust, A. J. Zahorik. 1993. Why improving quality doesn't improve quality (or whatever happened to marketing?). California Management Rev. 35(Spring) 82-95.
38. Lane, V., R. Jacobson. 1995. Stock market reactions to brand extension announcements: The effect of brand attitude and familiarity. J. Marketing 59(January) 63-77.
39. Liebowitz, S. J., S. E. Margolis. 1990. Fable of the keys. J. Law and Econom. 33(1) 1-25.
40. Malkiel, B. 1992. Efficient market hypothesis. P. Newman, M. Milgatc, J. Eatwell, cds. New Palgrave Dictionary of Money and Finance. Macmillan, London, UK, 739-742.
41. Mayzlin, D. 2006. Promotional chat on the internet. Marketing Sci. 25(2) 155-163.
42. Metrick, A., R. Zeckhauser. 1998. Price versus quantity: Market clearing mechanisms are uncertain about quality. J. Risk Uncertainty 17 215-242.
43. Mittal, V., E. Anderson, A. Sayrak, P. Tadikamalla. 2005. Dual emphasis and the long-term financial impact of customer satisfaction. Marketing Sci. 24(4) 544-555.
44. Mitra, D., P. N. Golder. 2006. How does objective quality affect perceived quality? Short-term effects, long-term effects, and asymmetries. Marketing Sci. 25(3) 230-247.
45. Moorman, C., R. Du, C. F. Mela. 2005. The effect of standardized information on firm survival and marketing strategies. Marketing Sci. 24(2) 263-274.
46. Nelson, P. 1970. Information and consumer behavior. J. Political Econom. 78 311-329.
47. Pauwels, K., J. Silva-Risso, S. Srinivasan, D. M. Hanssens. 2004. New products, sales promotions and firm value, with application to the automobile industry. J. Marketing 68 142-156.
48. Phillips, L., D. Chang, R. Buzzell. 1983. Product quality, cost position and business performance: A test of some key hypotheses. J. Marketing 47 26-43.
49. Ratchford, B. T. 1980. The value of information for selected appliances. J. Marketing Res. 17(1) 14-25.
50. Robinson, W. T., C. Fornell. 1985. The sources of market pioneer advantages in the consumer goods industries. J. Marketing Res. 22 297-304.
51. Roush, W. 2004. Technology's Uncle Walter. Technology Review (May T), http://www.technologyreview.com/editors/15544.
52. Rust, R. T., J. J. Inman, J. Jia, A. Zahorik. 1999. What you don't know about customer-perceived quality: The role of customer expectation distributions. Marketing Sci. 18(1) 77-92.
53. Shankar, V. 1999. New product introduction and incumbent response strategies: Their interrelationship and the role of multimarket contact. J. Marketing Res. 36(3) 327-344.
54. Shaked, A., J. Sutton. 1983. Natural oligopolies. Econometrica 51(5) 1469-1483.
55. Shefrin, H. 2000. Beyond Greed and Fear. Harvard Business School Press, Boston, MA.
56. Srivastava, R. K., T. A. Shervani, L. Fahey. 1998. Market-based assets and shareholder value: A framework for analysis. J. Marketing 62 2-18.
57. Subramani, M., E. Walden. 2001. The impact of e-commerce announcements on the market value of firms. Inform. Systems Res. 12(2) 135-154.
58. Sutton, J. 1986. Vertical product differentiation: Some basic themes. Amer. Econom. Rev. 76(2) 393-398.
59. Tellis, G. J., C. Fornell. 1988. Advertising and quality over the product life cycle: A contingency theory. J. Marketing Res. 15(1) 64-71.
60. Tellis, G. J., P. N. Golder. 2001. Will and Vision: How Latecomers Grow to Dominate Markets. McGraw-Hill, New York.
61. Tellis, G. J., B. Wernerfelt. 1987. Competitive price and quality under asymmetric information. Marketing Sci. 6(3) 240-253.
62. Tellis, G. J., Y. Yin, R. Niraj. 2007. Network effects or quality: What drives the success of new high-tech products? Working paper, Marshall School of Business, University of Southern California, Los Angeles, CA.
63. Zhang, J., C. Narasimhan. 2000. Market entry strategy under firm heterogeneity and asymmetric payoffs. Marketing Sci. 19(4) 313-327.