to the literature by suggesting that in service industries, competitive
advantage enhancesfirm financial performance indirectly through
improving market performance. Market performancerefers to the
firm's “ability to satisfy and retain customers by offering quality
products and services…”andfinancial performancereflects thefirm's
profitability and market impact (Moorman and Rust, 1999: 187).本文来自^辣@文~论^文%网*原文请找腾讯#3249.114
Frequently used indicators of market performance include customer
satisfaction, product/service quality, customer retention, and customer
loyalty, while costs, sales revenue, profitability, and market share are
typical indicators offinancial performance (Moorman and Rust, 1999).
An innovation advantage implies thatfirms provide their custo
mers with the most up-to-date and innovative product offerings of
superior value (Li, 2005). The more value the market offering
provides, the more satisfied and loyal thefirm's customers; and the
higher the value, the more likely thefirm's customers will perceive the
market offering as being of higher quality (Zeithaml, 1988). Similarly,
firms with a market differentiation advantage have successfully
created unique images for their market offerings by specifically
tailoring their marketing mixes to their target customers and, thus,
can reap the benefits of high levels of customer loyalty and satisfaction
(Miller, 1988).
Afirm's market performance will positively affect its financial
performance. Higher levels of service quality and customer satisfaction
generate increased customer loyalty; and, because loyal customers are
less sensitive to price changes, firms can command premium prices
or sell more of their products at a given price, leading to a higher profit
or market share (Porter, 1985). In addition to lower costs of servicing
existing customers, the positive reputation that results from higher
levels of market performance enables the firm to attract new
customers, introduce new products, and weather short-term environ
mentalfluctuations more easily. In service industries (e.g., hotel),
business success depends critically on the interactions between
employees and customers (Anderson et al., 1997), making service
quality and customer satisfaction a key link between competitive
advantage andfinancial performance. That is, differentiation advan
tage enhances financial performance indirectly through fostering
market performance.本文来自^辣@文~论^文%网*原文请找腾讯#752018766
H3a: The greater the firm's innovation differentiation advantage,
the greater its market performance.
H3b: The greater the firm's market differentiation advantage, the
greater its market performance.
H3c:Thehigherthefirm's market performance, the higher itsfinancial
performance.
3. Method
3.1. Sample
To test the hypotheses, this study selects the worldwide hotel
industry as the empirical setting. Globally, the hotel industry is highly
fragmented and characterized by a high failure rate. For example, in
contrast with other product categories, the market share accounted for
by the top three hotel brands amounts to only 15% (MKG Consulting,
2002), and the survival rate for new hotel brands is slightly greater
than 50% (Coopers and Lybrand, 1997). As a result, the industry is
highly competitive and companies increasingly pay close attention to
their customers' value to achieve better performance (see alsoBrown
and Dev, 2000).
The unit of analysis is the individual hotel property. According to
pretesting, the hotel's general/senior managers are knowledgeable
about their individual hotel property's market orientation, competi
tive advantages and performance, as well as customer characteristics.
Therefore, the authors use these managers as key informants to
report on their individual hotel properties. From a sampling frame
provided by the Global Hoteliers Club, which publishes the global
上一页 [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] 下一页
竞争优势与绩效英文文献和翻译 第8页下载如图片无法显示或论文不完整，请联系qq752018766
