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Measuring the relationship between marketing assets, intellectual capital and firm performance


  • Tommaso Pucci


  • Christian Simoni


  • Lorenzo Zanni



Although the literature highlights the contribution of different marketing assets to firm performance, it is still far from reaching a consolidated and exhaustive position on this topic. Several authors have, in fact, proposed metrics and performance measurement systems related to marketing strategies, but the relationship between specific marketing resources and overall firm profitability needs further analysis and empirical research. This paper proposes a framework to measure the effect of the use and interaction of different marketing assets on firm performances, through their impact on the level of the firm’s intellectual capital. We test our framework by adopting a quantitative approach, providing evidence from within the Italian children’s clothing industry. Specifically, we measure the intellectual capital using the knowledge capital scorecard method proposed by Lev (Gu and Lev in Intangibles assets. Measurement, drivers, usefulness. New York University, New York, 2001 ; Seetharaman et al. in J Intellect Cap 3(2):128–148, 2002 ) and we analyze it by modeling some firm-specific variables such as brands, stores, advertising expenses, the balance sheet’s intangible assets and their interactions. The empirical analysis highlights that: (a) there is a positive direct relationship between a firm’s intellectual capital value and its performance; (b) the combination and interaction of specific marketing resources affect the intellectual capital value. The results show that the intellectual capital value can be used as a synthetic indicator to evaluate the impact of some specific marketing resources on business performance. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Tommaso Pucci & Christian Simoni & Lorenzo Zanni, 2015. "Measuring the relationship between marketing assets, intellectual capital and firm performance," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 19(3), pages 589-616, August.
  • Handle: RePEc:kap:jmgtgv:v:19:y:2015:i:3:p:589-616
    DOI: 10.1007/s10997-013-9278-1

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    References listed on IDEAS

    1. Moses Acquaah & Tailan Chi, 2007. "A longitudinal analysis of the impact of firm resources and industry characteristics on firm-specific profitability," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 11(3), pages 179-213, September.
    2. Lamberti, Lucio & Noci, Giuliano, 2010. "Marketing strategy and marketing performance measurement system: Exploring the relationship," European Management Journal, Elsevier, vol. 28(2), pages 139-152, April.
    3. Meer-Kooistra, Jeltje van der & Zijlstra, Siebren M., 2001. "Reporting on intellectual capital," Research Report 01E50, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
    4. Bhuian, Shahid N. & Menguc, Bulent & Bell, Simon J., 2005. "Just entrepreneurial enough: the moderating effect of entrepreneurship on the relationship between market orientation and performance," Journal of Business Research, Elsevier, vol. 58(1), pages 9-17, January.
    5. repec:dgr:rugsom:01e50 is not listed on IDEAS
    6. Piercy, Nigel F. & Morgan, Neil A., 1994. "The marketing planning process: Behavioral problems compared to analytical techniques in explaining marketing plan credibility," Journal of Business Research, Elsevier, vol. 29(3), pages 167-178, March.
    7. Franco Malerba & Luigi Orsenigo, 2002. "Innovation and market structure in the dynamics of the pharmaceutical industry and biotechnology: towards a history-friendly model," Industrial and Corporate Change, Oxford University Press, vol. 11(4), pages 667-703, August.
    8. Kurata, Hisashi & Yue, Xiaohang, 2008. "Trade promotion mode choice and information sharing in fashion retail supply chains," International Journal of Production Economics, Elsevier, vol. 114(2), pages 507-519, August.
    9. Bontis, Nick & Dragonetti, Nicola C. & Jacobsen, Kristine & Roos, Göran, 1999. "The knowledge toolbox:: A review of the tools available to measure and manage intangible resources," European Management Journal, Elsevier, vol. 17(4), pages 391-402, August.
    10. Morgan, Neil A. & Clark, Bruce H. & Gooner, Rich, 2002. "Marketing productivity, marketing audits, and systems for marketing performance assessment: integrating multiple perspectives," Journal of Business Research, Elsevier, vol. 55(5), pages 363-375, May.
    11. Brun, Alessandro & Castelli, Cecilia, 2008. "Supply chain strategy in the fashion industry: Developing a portfolio model depending on product, retail channel and brand," International Journal of Production Economics, Elsevier, vol. 116(2), pages 169-181, December.
    12. Hooley, Graham J. & Greenley, Gordon E. & Cadogan, John W. & Fahy, John, 2005. "The performance impact of marketing resources," Journal of Business Research, Elsevier, vol. 58(1), pages 18-27, January.
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