How does financial performance affect marketing? Studying the marketing-finance relationship from a dynamic perspective

  • Mitchell J. Lovett
  • Jason B. MacDonald


In this article, the authors provide a dynamic framework for understanding the relationship between marketing and financial performance. They suggest that firms market to financial markets as well as to consumption markets and that some mixture provides superior long-term performance. The authors discuss the potential pitfalls of overemphasizing one market to the detriment of another and then provide a theoretical model of the factors that influence the extent of marketing to financial markets. This is followed by a discussion of implications for theory, practice, and future research.


marketing financial performance market value shareholders stakeholder salience 


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Copyright information

© Academy of Marketing Science 2005

Authors and Affiliations

  • Mitchell J. Lovett
    • 1
  • Jason B. MacDonald
    • 2
  1. 1.Duke UniversityDurhamUSA
  2. 2.Boise State UniversityBoiseUSA

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