Julien Schnerrer
The Effect of Solution Transition on Steering the Sales Force: A Primer for New
Marketing Metrics
ISBN: 978-3-8428-4432-2
Herstellung: Diplomica® Verlag GmbH, Hamburg, 2012
Zugl. FOM - Fachhochschule für Oekonomie und Management Essen, Essen,
Deutschland, Bachelorarbeit, 2010
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I
Table of Content
Table of Content... I
Index of Illustrations...III
Index of Tables ... IV
Index of Abbreviations ...V
1. Introduction...- 1 -
1.1.
Problem Definition... - 1 -
1.2.
Objectives of This Work... - 1 -
1.3.
Scope of Work ... - 2 -
2. Role of Marketing in a Firm ...- 3 -
2.1.
Theory of the Firm and the Traditional Role of Marketing... - 3 -
2.2.
Value Creation in a Firm... - 5 -
2.3.
How Marketing Influences the Firm Value ... - 8 -
2.4.
Conclusions about the Role of Marketing... - 11 -
3. The Emergence of Solutions...- 12 -
3.1.
Product Orientation ... - 12 -
3.2.
Service Level Definition... - 13 -
3.3.
Shift from Product to Service Orientation... - 14 -
3.4.
Solution Definition and Demarcation ... - 16 -
3.5.
Drivers for Solution Orientation... - 18 -
3.6.
Conclusions about the Evolution from Product to Solution Orientation ... - 20 -
4. Dominant Metrics used to Determine Marketing and Sales Performance...- 22 -
4.1.
Performance Assessment in Product Centric Firms ... - 22 -
4.2.
Proposal for Joint Marketing Sales Metrics ... - 26 -
4.3.
Key Influencers of Market Success in Service Dominant Markets... - 28 -
4.4.
Sales Force Control Systems and BCCS ... - 29 -
4.5.
Conclusion about Existing Metric Readiness for Solution Orientation... - 31 -
II
5. Potential Sales Metric Evolution in the Context of Solution Orientation...- 33 -
5.1.
Definition of a Customer Solution ... - 34 -
5.2.
Metrics that Determine Customer Solution Effectiveness... - 35 -
5.3.
Selection of an Appropriate Solution Selling Process ... - 37 -
5.4.
Determinants for Relationship Value... - 41 -
5.5.
Impacting Factors on Interrelationship Performance ... - 43 -
5.6.
Implementation of Consultancy Mind Set in Sales ... - 45 -
5.7.
Sales and Effort Forecast as a Challenge in Solution Business ... - 46 -
5.8.
Growing Importance of Professional Maturity ... - 49 -
5.9.
Independent Measurements that Help to Predict Sales Performance... - 50 -
5.10.
Marketing Sales Interface ... - 53 -
6. Scorecard Metrics to Measure Solution Orientation...- 56 -
6.1.
Discussion... - 56 -
6.2.
Managerial Implications... - 57 -
6.3.
Limitations and Future Research Directions... - 59 -
6.4.
Solution Readiness Metric... - 60 -
Bibliography ...- 61 -
Internet Sources ...- 69 -
III
Index of Illustrations
Figure 1 Linking Market Based Assets to Shareholder Value...- 8 -
Figure 2 The Chain of Marketing Productivity...- 10 -
Figure 3 Attractiveness of After Sales and Service Propositions ...- 14 -
Figure 4 Pseudo Solutions...- 17 -
Figure 5 Complexity of Solution Performance ...- 18 -
Figure 6 Marketing Sales Interface Overview ...- 23 -
Figure 7 Determinants of Salespeople's Performance...- 25 -
Figure 8 Proposed View of a Customer Solution ...- 34 -
Figure 9 Supplier and Customer Variables Affecting Solution Effectiveness...- 35 -
Figure 10 Solution Selling Process and Functional Units Coordinating Stakeholders and
Activities ...- 38 -
Figure 11 The Salesperson as a General Manager...- 39 -
Figure 12 Importance of Several Competences of Solution Selling in Comparison to Selling
Standalone Products...- 40 -
Figure 13 Relationship Benefits and Relationship Cost Impact on Relationship Value .- 42 -
Figure 14 The Customer-Level Consequences of Interaction Orientation ...- 44 -
IV
Index of Tables
Table 1 Attributes of Balance-Sheet and Off-Balance Sheet Assets ...- 7 -
Table 2 Comparison of Goods and Service Centered Views...- 15 -
Table 3 Proposed Scale Refinement for the BCCS Scale...- 31 -
Table 4 Marketing Sales Interface Setups Verbal Cluster Description...- 55 -
Table 5 Solution Readiness Metric for Sales Forces ...- 60 -
V
Index of Abbreviations
B2B -
Business
to
Business
CRM -
Customer Relationship Management
4P
-
Marketing Mix - Product, Price, Place Promotion
7P
-
Product, Price, Place, Promotion, Physical Evidence, Processes, People
SFC -
Sales Force Control
BCCS -
Babakus and Colleagues Control System
- 1 -
1. Introduction
1.1. Problem
Definition
In recent years many firms in the business to business (B2B) environment were trying to
increase their market position by better product portfolios. After these products became
more and more complex product oriented firms started to offer services first as a reaction
on customer requirements but soon also to create additional revenue on top of the core
business. This transformation included that service departments were not longer considered
as a cost center but a business unit. With increasing demand for higher customer satisfac-
tion, the recognition that customer requirements must be better understood, but also exter-
nal drivers e.g. shareholders who pushed firms to focus on core competencies, the term so-
lution was defined as a combination of products and services that are required to gain com-
petitive advantage.
1
After so called solutions are now known for many years still many companies did not suc-
ceed in transforming their businesses. Even worse besides failing in the transformation they
sometimes even lost core markets.
2
Scholars work has proven that although well defined in
many framework constructs the practical implications for a successful solution transition
especially in the sales domain are often not implemented or even unknown. This becomes
especially obvious in the metrics that are used by sales organizations today. These do typi-
cally not indicate the necessary transformation that is expected due to the solution orienta-
tion.
3
1.2.
Objectives of This Work
The overall objective of this thesis is to provide a metric that helps to assess the solution
readiness status of a firm's sales force. Sales is often considered to be a part of marketing.
4
It will be analyzed to what extent this perspective is justified and how this is influenced by
1
cp. Galbraith, Jay R. "Organizing to Deliver Solutions" (Organizational Dynamics, #31/2002) 194-207.
2
cp. Johansson, Juliet E./Krishnamurthy, Chandru/Schlissberg, Hank E. "Solving the Solutions Problem"
(McKinsey Quarterly #3/2003) 116-125.
3
cp. Brown, S.P./Evans, K.R./Mantrala, M./Challagalla, G. "Adapting Motivation, Control, and Compensa-
tion Research to a New Environment" (Journal of Personal Selling & Sales Management, #25/2005) 156-167.
4
cp. Workman, John P./Homburg, Christian/Gruner, Kjell "Marketing Organization: An Integrative Frame-
work of Dimensions and Determinants" (Journal of Marketing, 07/1998) 21-41.
- 2 -
the emergence of solutions. As part of that an overview about the sales marketing interface
will be given to create awareness for this topic. This study will furthermore increase the
understanding of the reader about applied metric concepts in marketing departments that
can be found in existing firms today. It will be demonstrated how shareholder value influ-
enced their design and why these metrics are not aligned with latest research about firm
value.
1.3.
Scope of Work
This work will outline metric elements that shall be applied for sales forces when moving
towards solution orientation.
The structure of this thesis is split into 6 chapters and organized as follows. To begin with
the history of marketing metrics will be portrayed in dependence on the theory of the firm
and its implications on the marketing functions. An explanation will be given in what ways
marketing can influence the firm value and how this shall be measured. Chapter 3 is de-
scribing why solutions are emerging and what consequences can be expected. To achieve a
better understanding the author will depict the product centered logic and how it has been
redeemed by the service centered logic over time. This chapter provides a meaningful in-
sight into product dominated market challenges since the recognition of these is fundamen-
tal to understand the requirements for companies that shift their business from there to-
wards service or solution oriented markets. Chapter 4 will provide an overview about met-
rics that are applied in sales and marketing organizations today and the development of
Sales Force Control systems. After the overview about the historical progress was provided,
considerations about requirements in regards to the sales forces in solution business envi-
ronments are started with chapter 5. First a description of how customers perceive a solu-
tion is given. From there main influencing variables are derived that are likely to impact the
success of sales persons. Major valuable measurement suggestions that are fundamental to
test solution readiness are justified and outlined throughout chapter 5. The thesis is final-
ized with a detailed metric proposal for firms that want to benchmark their sales force
against solution readiness in chapter 6.
- 3 -
2. Role of Marketing in a Firm
This chapter describes the history of metrics in firms and their evolution in marketing de-
partments. Hereafter the influence of marketing on the firm value is portrayed. Objective of
this section is to create awareness why metrics are required and how the idea of firm value
influences its design. At the end of this chapter latest research results about firm value crea-
tion are compared to the currently dominating metrics to identify their suitability.
2.1.
Theory of the Firm and the Traditional Role of Market-
ing
The term "Theory of the firm" is describing which factors are influencing the emergence of
firms, the behavior of firms and what objectives a firm follows. In doing so the theory of
the firm is also trying to explain future activities of companies that are acting in an eco-
nomical environment. An outcome of the theory development is how the value of a firm
can be measured.
5
According to Anderson the way of value assessment has evolved from the neoclassical
model that focused on single period profit maximization to the market value model in
which a more comprehensive approach is considered. The market value model takes into
account several accounting periods, correlating profit expectations and other variables that
are finally expressed in the firm value or stock price. In stock listed firms the owner is dif-
ferent from the management and may have dissimilar objectives. Thus the question rose in
what way the relationship can be effectively managed to keep control costs low while en-
suring maximization of the firm value. As a result the principal agent theory was formu-
lated to overcome emerging conflicts related to value maximization on the one hand and
more personal objectives on the other.
6
According to the principal agent theory the firm agents (managers) are supposed to fulfill
tasks in favor of the principal (shareholders). Since agents act mostly under limited obser-
5
cp. Anderson, P. "Marketing, Strategic Planning and the Theory of the Firm" (Journal of Marketing,
#46/1982) 15-26.
6
cp. Anderson, P. "Marketing, Strategic Planning and the Theory of the Firm" (Journal of Marketing,
#46/1982) 15-26.
- 4 -
vation of their principals it is required to identify measures that indicate the level of per-
formance of managers to the owners or shareholders.
7
Another aspect that has been reflected by Anderson is that each department is challenged
for its individual contribution to the value maximization and here the role of marketing
probably changed most significantly. Over time the marketing task has developed from be-
ing responsible for positive product market results to a role in that it is mainly responsible
for the relation to the external environment. In between marketing was forced into a posi-
tion being accountable for financial outcomes which still remains in many firms. This was
caused out of a conflict with finance departments who argued that marketing also shall be
responsible for financial performance indicators. Marketing struggled to develop its own
transparent measurements to indicate its contribution.
8
Therefore marketing got used to take
the suggested financial figures into account to assess its performance and to justify its exis-
tence. These financial outcomes are named in various ways like return on investment, con-
tribution margin, cash flow or cumulative compounded profits etc. Basically all of them
describe profit maximization which is considered to be the predominant firm objective al-
though it is recognized that firms follow multiple objectives.
9
These figures however are
most often short sighted and neglect the long term development needs. As a consequence
many companies suffer from missing survival strategies and face tremendous challenges
after a period of success. It is assumed that the short term financial figures orientation foils
the essential role of marketing
10
which is supposed to align a firm continuously with the
market.
11
As mentioned by Srivastava et al. stock prices were considered to be the most transparent
identifier of firm value.
12
There has been a strong belief that a positive stock price trend
results mainly from superior financial achievements. It was observed that applied rules for
7
cp. Jensen, Michael/Meckling, William "Theory of the firm. Managerial behavior, agency costs, and owner-
ship structure" (Journal of Financial Economics. #4/1976) 305360.
8
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder Value:
A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
9
cp Anderson, P. "Marketing, Strategic Planning and the Theory of the Firm" (Journal of Marketing,
#46/1982) 15-26.
10
cp Anderson, P. "Marketing, Strategic Planning and the Theory of the Firm" (Journal of Marketing,
#46/1982) 15-26.
11
Day, G.S. "Aligning the Organization with the Market" (MIT Sloan Management Review, #48/2006) 41-49.
12
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
- 5 -
stock selection are often based on the short term financial performance which is caused by
the dynamic characteristics of investors who often do not consider the long term survival
needs of a firm.
13
Instead they shift their shares if they sense a better profit maximization
opportunity.
14
Knowing that value creation in a firm is the fundamental objective of a com-
pany several attempts were made to explain how this can be achieved after doubts raised
those financial figures and outcomes are the only explanation.
15
2.2.
Value Creation in a Firm
Principal Agent Theory describes the monitoring need due to information asymmetry be-
tween two parties. It can be considered to be the explanation for performance metric emer-
gence. In addition behavioral theories were developed that describe the firm as coalitions of
individuals who follow their own objectives rather than following objectives of their com-
pany.
16
The term coalition is used by Cyert and March to reflect the different departments
within a firm and external stakeholders like customers, investors and suppliers.
17
Resource
dependence model as one example of the behavioral theories, explains that each coalition is
mainly interested in its own survival and the chances to achieve that are dependant on the
ability of a coalition to demonstrate its value to other coalitions. The larger the perceived
value of a coalition the more likely it is that this coalition will play a dominant role in the
structure of coalitions.
18
As a consequence of missing measurements in marketing it has
been supposed that its influence suffered and its importance diminished.
19
An early attempt
to counteract this development has been the shareholder value methodology in which Day
et al. tried to explain their influence beyond short term financial figures recognizing that
ultimately the increase of shareholder value is desired by investors. The need for share-
holder value enrichment results from the market value model. The theory describes how the
13
cp. Fornell, Claes/Mithas, Sunil/Morgeson III, Forrest/Krishnan, Mayuram "Customer Satisfaction and
Stock Prices: High Returns, Low Risk" (Journal of Marketing, 1/2006) 3-14.
14
cp. Levitt, Theodore "Marketing Myopia" (Harvard Business Review, 08/1960) 24-47.
15
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
16
cp. Simon, Herbert A. "On the Concept of Organizational Goal" (Administrative Science Quarterly,
06/1964) 1-22.
17
cp. Cyert, M./March, J.G. "A Behavioral Theory of the Firm" (Englewood Cliffs, 1963) 27.
18
cp. Pfeffer, Jeffrey/Salancik, Gerald "The External Control of Organizations" (Harper and Row, 1978) 27.
19
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
- 6 -
marketing activities and market strategy selection influence financial outcomes as the
shareholder value. Its objective is to increase or maximize monetary returns for investors of
a firm based on the firm's marketing activities and especially its strategy.
20
In the literature
about marketing and finance this methodology has not been very popular. This probably
resulted from the difficulties to link long term oriented marketing activities directly with
respectively financial figures and shareholder value since effects do not occur in the same
accounting period or even worse for finance over several periods.
21
Nevertheless marketing scholars continued to search for a framework to be accepted being
aware that short term orientation does usually not result in superior long term development.
With an increasing understanding of the marketplace firms began to acknowledge that the
internal and external marketplace is influenced by several goods and conditions.
22
Market-
ing departments were originally assigned to be mainly responsible to manage the external
product market place while most other firm coalitions are dealing with internal market
places. Product development, market research, channel selection but also advertisements
etc. are tasks that mainly target to support external coalition needs like customers satisfac-
tion and investor pleasure and hence represent fundamental tasks of marketing.
23
The ability of a firm to address the external product market place can be influenced by
many variables. These were summarized in the marketing mix, the 4Ps, in the past but after
acknowledging that it does not explain all the influence a firm has and that can be impacted
by marketing in particular a more comprehensive approach was introduced by Srivastava et
al. In this augmented view scholars attempted to illustrate how marketing activities that are
not directly linked with a financial result influence the long term well being of a firm. Since
assets are well understood by finance and shareholders marketing used a similar terminol-
ogy when they developed assets that can not be produced by a firm's internal marketplace.
Instead they need to be created with external coalitions and thus result from market interac-
tion. Market based assets are defined as capabilities a firm possesses that leverages its posi-
tion in the market but do not occur on the balance sheet and are mostly intangible. They can
20
cp. Day, G.S./Fahey, L. "Valuing Market Strategies" (Journal of Marketing, 07/1988) 45-57.
21
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
22
cp. Constantin, Lusch "Understanding Resource Management" (Oxford The Planning Form, 1994).
23
cp Anderson, P. "Marketing, Strategic Planning and the Theory of the Firm" (Journal of Marketing,
#46/1982) 15-26.
- 7 -
be separated into intellectual and relational and are highly dependant on skills and knowl-
edge. They are different to production facilities or sourcing capabilities. Table 1 shows a
comparison of tangible and intangible assets. It also outlines measurement points that shall
help to increase acceptance by correlating positive market results to corresponding property
considerations.
24
Taken from: Srivastava, Shervani, Fahey; Market-Based Assets and Shareholder Value: A Framework for Analysis (The Journal of
Marketing, 01/1998); 2-18.
Table 1 Attributes of Balance-Sheet and Off-Balance Sheet Assets
Its influence on shareholder value is illustrated in figure 1 on page 8. It depicts the connec-
tion between market based assets that are largely intangible on market performance that
leads to improved cash flows that finally leverage the firm value. As a conclusion it can be
said that intangible assets contribute heavily to a firm's performance and shareholder value.
Considering that most of the intangible assets result from the linkage between a firm and its
24
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18.
- 8 -
market it is suggested that marketing leads related actions and may apply measurements on
the correlating outcomes.
25
Taken from: Srivastava, Shervani, Fahey; Market-Based Assets and Shareholder Value: A Framework for Analysis (The Journal of
Marketing, 01/1998); 2-18.
Figure 1 Linking Market Based Assets to Shareholder Value
2.3.
How Marketing Influences the Firm Value
Being aware that market based assets are fundamental to a firm's value and understanding
how these assets can be created it is possible to derive the influence of marketing on firm
value. Since market based assets mainly result from external interactions and therefore
functions that have an external relation market orientation will make a difference. Intangi-
ble assets gain importance and so marketing also would need to gain influence in firms.
Market oriented firms achieve better results and so it is recommended that marketing shall
take leadership in aligning the firm with the market.
26
A continuous focus on core competences lead to a situation in which it is not very likely
that one firm can offer all required products or services.
27
Therefore the intangible off bal-
25
cp. Srivastava, Rajendra/Shervani, Tasadduq A./Fahey, Liam "Market-Based Assets and Shareholder
Value: A Framework for Analysis" (The Journal of Marketing, 01/1998) 2-18
26
cp. Verhoef, Peter/Leeflang, Peter "Understanding Marketing Department's Influence within a Firm"
(Journal of Marketing, 03/2009); 14-37.
27
cp. Gouthier, Matthias "Entwicklungspfade und Erfolgsausichten des industriellen Servicegeschäfts. Eine
Bestandsaufnahme" (in Diller, Hermann "Vom Produkt- zum Dienstleistungsgeschäft - Marketingstrategien
für reife Märkte", Nürnberg: Gesellschaft für Innovatives Marketing, 06/2008) 1-20
- 9 -
ance-sheet assets of a firm will be fundamentally influenced by its capability to find its po-
sition in market networks
28
and deal with market alliances.
29
According to Simon et al. amongst other scholars Tobin's q is considered to be the value
that mostly explains the impact of marketing on firm value. It reflects the amount of tangi-
ble assets compared to the market value. Positive difference which means higher market
value than tangible asset value requires intangible assets and is to a large degree a result of
external activities.
30
It shall be beard in mind that accounting systems can manipulate what
is an asset.
The stock market is the benchmarks for most firms and market capitalization or Tobin's q
are its key performance indicators.
31
Here investors do typically invest if they feel that they
can realize returns while avoiding uncertainties at the same time. The selection of an in-
vestment out of numerous opportunities is mainly based on the expected return and risk
considerations. The desires of stockholders do to a large degree concur with firm owners.
An interesting difference though is the ability of stockholders to move investments more
dynamically if another opportunity promises higher returns. As a consequence stock ana-
lysts did often focus on financial key performance indicators when they tried to identify
opportunities with high return potential. Research in this field has now proven that the like-
lihood of high returns apparently is not dependant on previous financial results but corre-
lates well with customer satisfaction.
32
This finding is enforced with the recognition that
stock return risks are highly mitigated when the customer satisfaction is high. Hence the
market does not response immediately to changes in customer satisfaction results which is
different to financial performance announcements.
33
A radical shift is expected since marketing has to transform from being an agent of goods
and services in which it is held accountable for short term financial figures to a customer
28
cp. Rust, Ambler, Carpenter, Kumar, Srivastava; Measuring Marketing Productivity: Current Knowledge
and Future Directions (Journal of Marketing, 10/2004) 76-89.
29
cp. Swaminathan, Moorman; Marketing Alliances, Firm Networks, and Firm Value Creation (Journal of
Marketing, 09/2009) 52-69.
30
cp. Simon, Carol J./Sullivan, Mary W. "The Measurement and Determinants of Brand Equity: Financial
Approach" (Marketing Science, #12/1993) 2852.
31
cp. Fang, Eric/Palmatier, Robert M./Steenkamp, Jan-Benedict "Effect of Service Transition on Firm Value"
(Journal of Marketing, 09/2008) 1-14.
32
cp. Fornell, Claes/Mithas, Sunil/Morgeson III, Forrest/Krishnan, Mayuram "Customer Satisfaction and
Stock Prices: High Returns, Low Risk" (Journal of Marketing, 1/2006) 3-14.
33
cp. Tuli, Kapil R./Bharadwai, Sundar "Customer Satisfaction and Stock Return Risks" (Journal of Market-
ing, 11/2009) 184-197.
- 10 -
consultant role in which marketing's focus are market based assets that enable sustainable
success in the marketplace.
34
Since this largely impacts the satisfaction felt on consumer
side it will impact the firm value too.
35
The chain of marketing productivity is illustrated in
figure 2 that associates a wide range of marketing activities with financial outcomes and the
value of the firm. It suggests a flow top down from strategy development, execution and
indicates the visibility in the market place which is at the end Tobin's q.
36
Taken from: Rust, Ambler, Carpenter, Kumar, Srivastava; Measuring Marketing Productivity: Current Knowledge and Future Direc-
tions (Journal of Marketing, 10/2004) 76-89.
Figure 2 The Chain of Marketing Productivity
34
cp. Achrol, Kotler; Marketing in the Network Economy (Journal of Marketing, 1999) 146-163.
35
cp. Rust, Ambler, Carpenter, Kumar, Srivastava; Measuring Marketing Productivity: Current Knowledge
and Future Directions (Journal of Marketing, 10/2004) 76-89.
36
cp. Rust, Ambler, Carpenter, Kumar, Srivastava; Measuring Marketing Productivity: Current Knowledge
and Future Directions (Journal of Marketing, 10/2004) 76-89.
Ende der Leseprobe aus 77 Seiten
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- , 2010, The Effect of Solution Transition on Steering the Sales Force: A Primer for New Marketing Metrics, Hamburg, Bedey Media GmbH, https://www.diplom.de/document/229346
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