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Further reading
The standard marketing approach to the mar-
keting mix can be found in most textbooks.
Particularly influential are:
Kotler, P. (2000) Marketing Management, 10th
edn, Prentice-Hall, Englewood Cliffs, NJ.
McCarthy, E. J. (2001) Basic Marketing: A Mana-
gerial Approach, 13th edn, Irwin,
Homewood.
The movement towards value management –
that management should orientate the busi-
ness towards maximizing shareholder value- began to be sharply articulated in the
1980s, though its origins go back much
further. Most of the academics that devel-
oped these ideas had major impacts on the
business community through consultancies
they founded or worked for – notably
Alcor, MARAKON and McKinsey. All
these works have a strong financial orienta-
tion and were not well integrated with
developments in marketing or business
strategy.
Brearley, R. A. and Myers, S. C. (1999) Principles
of Corporate Finance,6th edn, McGraw-Hill,
New York. Provides a comprehensive treat-
ment of the financial theory on which value-
based management is founded.
Copeland, T., Koller, T. and Murrin, J. (2001)
Valuation: Measuring and Managing the Value of
Companies, 3rd edn, Wiley, New York. An
influential text developed by McKinsey
consultants.
McTaggart, J. M., Kontes, P. W. and Mankins,
M. C. (1994) The Value Imperative, Free Press,
New York. Developed by MARAKON Asso-
ciates, the market leader in this area of
consulting. This book is more successful in
linking shareholder value to strategy.
Rappaport, A. (1998) Creating Shareholder Value,
2nd edn, Free Press, New York. This was the
first major presentation of the theory of value
management.
So far, the only text that interprets marketing in
value-based terms is:
Doyle, P. (2000) Value-based Marketing: Market-
ing Strategies for Corporate Growth and Share-
holder Value, Wiley, Chichester.
A number of journal articles also cover some of
the aspects in broad terms, particularly:
Day, G. and Fahey, L. (1988) Valuing Market
Strategies, Journal of Marketing, 52 , July,
45–57.
Srivastava, R. K., Shervani, T. A. and Fahey, L.
(1998) Market-Based Assets and Shareholder
Value: A Framework for Analysis, Journal of
Marketing, 62 , January, 2–18.