Impact of directed-to-consumers marketing strategies on firm market value.

The objective of this paper is to analyse the impact of different directed-to-consumers marketing strategies on firm market value. To that end, we follow a microeconometric approach that consists of formulating a model whose dependent variable is an indicator of market value, that is to say, Tobin's Q, whilst the independent variables take the form of a number of different marketing strategies. This model is estimated by using an unbiased survey carried out in the year 2000 to executives working in 405 North-American firms. The empirical results indicate that the most effective marketing strategies are, in this order, the ability to rapidly develop new products and services, the importance of both providing customized products and goods of high quality and finally, customer loyalty. [ABSTRACT FROM AUTHOR]