Market-Based Assets and Shareholder Value: A Framework for Analysis
- 1 January 1998
- journal article
- research article
- Published by SAGE Publications in Journal of Marketing
- Vol. 62 (1), 2-18
- https://doi.org/10.1177/002224299806200102
Abstract
The authors develop a conceptual framework of the marketing–finance interface and discuss its implications for the theory and practice of marketing. The framework proposes that marketing is concerned with the task of developing and managing market-based assets, or assets that arise from the commingling of the firm with entities in its external environment. Examples of market-based assets include customer relationships, channel relationships, and partner relationships. Market-based assets, in turn, increase shareholder value by accelerating and enhancing cash flows, lowering the volatility and vulnerability of cash flows, and increasing the residual value of cash flows.Keywords
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