Dr. Marc Fischer is Professor at the Marketing Discipline Group of UTS Business School. He is also director of the Chair for Marketing and Market Research at the University of Cologne. From 2007 to 2010, he was Professor of Marketing and Services at the University of Passau. His expertise includes the measurement and management of marketing performance, brand management and the optimization of marketing mix. Marc Fischer studied Business Administration at the University of Mannheim majoring in Marketing, Production and Supply Chain Management, Management Accounting and Anglistics. He received his PhD from the Faculty of Business at the University of Mannheim and his habilitation from the Faculty of Economics and Social Sciences at the Christian-Albrechts-University at Kiel.
His articles have appeared in Journal of Marketing Research, Marketing Science, Management Science, Quantitative Marketing and Economics, International Journal of Research in Marketing, Interfaces, and other academic journals. He won the 2009-2010 Gary L. Lilien ISMS-MSI Practice Prize and was a finalist in this competition again in 2016. He was also a finalist in the 2010 Franz Edelman Award competition on achievements in operations research. He has been awarded with the "VHB Best Paper Award 2011", the highest research honor from German Academic Association for Business Research. Dr. Fischer has been co-editor of Business Administration Review (DBW) since 2013.
In 2001 and 2002, Dr. Fischer suspended his academic career to assume a position as associate at McKinsey&Company. Since then he has been consulting with many firms from diverse industries such as automotive, logistics, media, retail, financial institutions, pharmaceuticals, telecommunications, etc.
In 2010, he joined the Marketing Accountability Standards Board (MASB) in Chicago where he serves on the Advisory Council. Dr. Fischer is member of the advisory board of cpi consulting (Berlin), YouGov AG (Cologne), and the Center for Brand Management and Marketing (ZMM) in Hamburg. He was executive director of a German-speaking business study program at the University of Management at Moscow and served as executive director of the Center for Market Research at the Institute for Market Research and Economic Research in Passau.
Marketing Performance, Brand Management, Marketing Mix Optimization, Market Research
Philosophy of Science
Fischer, M. & Himme, A. 2017, 'The financial brand value chain: How brand investments contribute to the financial health of firms', International Journal of Research in Marketing, vol. 34, no. 1, pp. 137-153.View/Download from: Publisher's site
Marketing and finance executives follow different objectives and focus on different stakeholder groups. Marketers want to create sales impact. Finance executives are concerned about the financial health of the firm. As a result, both worlds tend to be rather disconnected in their daily business. We argue that this does not reflect the dynamics of the firm where important marketing and financial metrics in fact interact. As long as marketing and finance officers do not fully appreciate the interplay of their key metrics, their decisions are likely to be suboptimal.
This article proposes a simultaneous equation model that reflects the interaction of marketing and finance-domain variables in the value creation process. We focus on brand-building activities and the attraction of capital as major tasks of marketing and finance officers. Our model shows how advertising and other investments increase customer-based brand equity (CBBE) that in turn impacts financial leverage and credit spread and ultimately elevates the level of financial resources.
Based on a broad sample of 155 firms covering various B2C industries, we test for the empirical relevance of our model. We also assess the practical significance of our results by transforming them into elasticities. Our results suggest that marketing and finance executives need to consider the dynamic interaction of their decision and performance variables to fully evaluate the effects of their decisions on the firm's financial health.
Edeling, A. & Fischer, M. 2016, 'Marketing's Impact on Firm Value: Generalizations from a Meta-Analysis', Journal of Marketing Research, vol. 53, no. 4, pp. 515-534.View/Download from: UTS OPUS or Publisher's site
The interest in the value relevance of marketing investments has given rise to numerous studies on the marketing–finance interface. This study integrates extant research findings and establishes empirical generalizations on marketing's impact on firm value. Specifically, the authors conduct a meta-analysis of prior econometric elasticity estimates of the stock market impact of marketing actions and marketing assets. Analyses based on 488 elasticities drawn from 83 studies reveal a mean elasticity of .04 for advertising expenditure variables and of .54 for marketing asset variables. Among marketing assets, customer-related assets show a higher mean elasticity of .72, compared with .33 for brand-related assets. Further analyses show that advertising elasticities are lower in more concentrated industries and that marketing asset elasticities are higher during recession times. Researchers should also be aware that characteristics of the research design (e.g., the type of firm value metric used, the omission of control variables, or not accounting for endogeneity) may affect the estimation results
Lennartz, E., Fischer, M., Krafft, M. & Peters, K. 2015, 'Drivers of B2B brand strength - Insights from an international study across industries', Schmalenbach Business Review, vol. 67, pp. 114-137.View/Download from: UTS OPUS
This study analyzes the effect of brand associations and marketing-mix instrument perceptions
on brand strength for B2B firms. Although B2B brands may contribute substantially
to firm profit, only little research has been directed at them. We close this
research gap by analyzing a unique data set that spans across three countries and seven
industries. We find that the brand-associations 'sustainability and corporate governance'
as well as 'innovation and expertise' drive brand strength in B2B markets across
all countries and industries. For marketing-mix instruments, product and distribution
perceptions shape brand strength. However, the effects of marketing-mix instrument
perceptions vary by industry and country.
Spann, M., Fischer, M. & Tellis, G.J. 2015, 'Skimming or Penetration? Strategic Dynamic Pricing for New Products', Marketing Science, vol. 34, no. 2, pp. 235-249.View/Download from: UTS OPUS or Publisher's site
Current complex dynamic markets are characterized by numerous brands, each with multiple products and price points, and differentiated on a variety of product attributes plus a large number of new product introductions. This study seeks to analyze dynamic pricing paths in a highly complex branded market, consisting of 663 products under 79 brand names of digital cameras. The authors develop a method to classify dynamic pricing strategies and analyze the choice and correlates of observed pricing paths in the introduction and early growth phase of this market. The authors find that, despite numerous recommendations in the literature for skimming or penetration pricing, market pricing dominates in practice. In particular, the authors find five patterns: skimming (20% frequency), penetration (20% frequency), and three variants of market-pricing patterns (60% frequency), where new products are launched at market prices. Skimming pricing launches the new product 16% above the market price and subsequently increases the price relative to the market price. Penetration pricing launches the new product 18% below the market price and subsequently lowers the price relative to the market price. Firms exhibit a mix of these pricing paths across their portfolios. The specific pricing paths correlate with market, firm, and brand characteristics such as competitive intensity, market pioneering, brand reputation, and experience effects. The authors discuss managerial implications.
Clement, M., Wu, S. & Fischer, M. 2014, 'Empirical generalizations of demand and supply dynamics for movies', International Journal of Research in Marketing, vol. 31, pp. 207-223.View/Download from: UTS OPUS or Publisher's site
Himme, A. & Fischer, M. 2014, 'Drivers of the cost of capital: the joint role of non-financial metrics', International Journal of Research in Marketing, vol. 31, pp. 224-238.View/Download from: UTS OPUS or Publisher's site
Hornig, T., Fischer, M. & Schollmeyer, T. 2013, 'The role of culture for pricing luxury fashion brands', Marketing: Zeitschrift fuer Forschung und Praxis, vol. 35, no. 2, pp. 123-135.View/Download from: UTS OPUS
Although Europe, the Americas, and Japan still account for more than three-fourths of the market for luxury goods, the consumption of luxury goods is getting more and more a worldwide phenomenon. The rise of emerging countries further underpins the relevance of culture for managerial decisions including the pricing of goods. Prices for regular goods usually correspond to a products functional or tangible value. They work as a signal for quality and reduce consumers purchase risk. With high quality as a necessity for the perception as a luxury good, prices for luxury brands are primarily symbolic. High prices inhibit emulation and provide luxuries an exclusive image. They further work as a signal for personal wealth or the social rank consumers have or wish to have. While exclusivity corresponds mostly to consumers intrinsic needs (e. g., desire for uniqueness), the advertisement of personal wealth and social rank is rather tied to social values and consumers extrinsic needs (e. g., prestige and status). Both have value to the consumer: While feelings of exclusivity strengthen self-identity, status and prestige provide self-esteem.
Fischer, M., Albers, S., Wagner, N. & Frie, M. 2012, 'Dynamically allocating the marketing budget: How to leverage profits across markets, products and markting activities', Marketing Intelligence Review, vol. 4, no. 1, pp. 50-59.View/Download from: UTS OPUS
Fischer, M., Albers, S., Wagner, N. & Frie, M. 2011, 'Dynamic marketing budget allocation across countries, products, and marketing activities', Marketing Science, vol. 30, no. 4, pp. 568-585.View/Download from: UTS OPUS or Publisher's site
Previous research on marketing budget decisions has shown that profit improvement from better allocation across products or regions is much higher than from improving the overall budget. However, despite its high managerial relevance, contributions by marketing scholars are rare. In this paper, we introduce an innovative and feasible solution to the dynamic marketing budget allocation problem for multiproduct, multicountry firms. Specifically, our decision support model allows determining nearoptimal marketing budgets at the countryproductmarketingactivity level in an Excel-supported environment each year. The model accounts for marketing dynamics and a products growth potential as well as for trade-offs with respect to marketing effectiveness and profit contribution. The model has been successfully implemented at Bayer, one the worlds largest pharmaceutical and chemical firms. The profit improvement potential is more than 50% and worth nearly E500 million in incremental discounted cash flows.
In this paper, we introduce the customer-insight based approach that Deutsche Post DHL adopted to improve its global express delivery business. DHL has used the operations research based brand assessment tool in more than 20 large countries on four continents since 2004. The tool supports local brand managers in allocating marketing resources to activities that grow the global brand in their country market. Its application led to an estimated increase in brand value of USD 1.32 billion over five years. This corresponds to a return on investment of 38 percent and an internal rate of return of 24 percent. The tools implementation also had a major impact on DHLs strategy and organization.
Fischer, M. & Albers, S. 2010, 'Patient- or physician-oriented marketing: What drives primary demand for prescription drugs?', Journal Of Marketing Research, vol. 47, no. 1, pp. 103-121.View/Download from: UTS OPUS or Publisher's site
Dieser Artikel befasst sich mit der Messung des finanziellen Werts versunkener Marken. Hierfür wird im ersten Teil der Arbeit ein Modell konzipiert, mit dessen Hilfe der Wert einer versunkenen Marke in Hinblick auf deren Wiedereinführung bestimmt werden kann. Der Markenwert wird mithilfe eines Multiplikatorverfahrens ermittelt, da aktuelle Marktdaten für eine versunkene Marke naturgemä nicht vorhanden sind. In einer empirischen Anwendung wird der Wert der Marke Nixdorf Computers bestimmt, die 1999 vom Markt genommen wurde. Wir ermitteln einen finanziellen Wert der Marke bezogen auf eine mögliche Wiedereinführung in den deutschen Laptop Markt, der ungefähr einem Drittel des durchschnittlichen Werts existierender Marken entspricht.
Fischer, M., Leeflang, P.S. & Verhoef, P.C. 2010, 'Drivers of peak sales for pharmaceutical brands', Quantitative Marketing and Economics, vol. 8, no. 4, pp. 429-460.View/Download from: UTS OPUS or Publisher's site
Peak sales are an important metric in the pharmaceutical industry. Specifically, managers are focused on the height-of-peak-sales and the time required achieving peak sales. We analyze how order of entry and quality affect the level of peak sales and the time-to-peak-sales of pharmaceutical brands. We develop a growth model that includes these two variables as well as control variables for own and competitive marketing activities. We find that early entrants achieve peak sales later, and they have higher peak-sales levels. High-quality brands achieve peak sales earlier, and their peak-sales levels are higher. In addition, quality has a moderating effect on the order of entry effect on time-to-peak-sales. Our results indicate that late entrants have longer expected time-to-peak-sales when they introduce a brand with high quality.
Fischer, M., VÃ¶lckner, F. & Sattler, H. 2010, 'How important are brands? A cross-category, cross-country study', Journal Of Marketing Research, vol. 47, no. 5, pp. 823-839.View/Download from: UTS OPUS or Publisher's site
This article focuses on the measurement of the overall importance of brands for consumer decision makingthat is, brand relevance in category, or BRiCacross multiple categories and countries. Although brand equity measures for specific brands have attracted a large body of literature, the questions of how important brands are within an entire product category and the extent to which BRiC differs across categories and countries have been neglected.The authors introduce the concept of BRiC (a category-level measure, not a brand-level measure). They develop a conceptual framework to measure BRiC and the drivers of BRiC, test the framework empirically with a sample of more than 5700 consumers, and show how the construct varies across 20 product categories and five countries (France, Japan, Spain, the United Kingdom, and the United States). The results suggest a high validity of the proposed BRiC measure and show substantial differences between categories and countries. A replication study two-and-a-half years later confirms the psychometric properties of the suggested scale and shows remarkable stability of the findings. The findings have important implications for the management of brand investments.
Clement, M., Fischer, M. & Gorke, B. 2007, 'Neuprodukteinführungen in der Filmindustrie (Introduction of a new movie: How do investors react?)', Die Betriebswirtschaft, vol. 67, no. 4, pp. 418-444.
Fischer, M. & Clement, M. 2007, 'Dimensions of international market entry with a new product', Zeitschrift fur betriebswirtschafiliche Forschung, vol. 59, pp. 847-881.
Fischer, M., Himme, A. & Albers, S. 2007, 'Pionier, Früher Folger oder Später Folger: Welche Strategie verspricht den gröten Erfolg? (Pioneer, early mover, or later mover: Which strategy is most successful?)', Zeitschrift Fur Betriebswirtschaft (ZfB), vol. 77, no. 5, pp. 539-573.
Fischer, M. 2016, 'Brand valuation in accordance with GAAP and legal requirements' in Stewart, D.W. & Gugel, C.T. (eds), Accountable Marketing: Linking Marketing Actions to Financial Performance, Routledge, New York and London, pp. 182-200.View/Download from: UTS OPUS or Publisher's site
Backhaus, M. & Fischer, M. Marketing Science Institute 2016, Brand Damage from Product Harm and Corporate Social Irresponsibility: How Deep and How Long?, pp. 16-133, Cambridge, MA, USA.
Fischer, M., Nils, W. & Albers, S. Marketing Science Institute 2013, Investigating the Performance of Budget Allocation Rules: A Monte Carlo Study, MSI Report Series, no. 13-114,, Cambridge: MA.
Fischer, M., Volckner, F. & Sattler, H. Marketing Science Institute 2009, Measuring and Examining Category Brand Relevance: A Multi-Country Study, MSI Report Series, no. 09-102, Cambridge: MA.
Fischer, M. Marketing Science Institute 2007, Valuing Brand Assets: A Cost-Effective and Easy-to-Implement Measurement Approach, MSI Report Series, no. 07-107, Cambridge: MA.
Fischer, M. & Albers, S. Marketing Science Institute 2007, Patient- or Physician-Oriented Marketing: What Drives Primary Demand for Prescription Drugs?, MSI Report Series, no. 07-112, Cambridge: MA..
Fischer, M., Shankar, V. & Clement, M. 2005, Can a Late Mover Use International Market Entry Strategy to Challenge the Pioneer?, MSI Report Series, no. 05-118, Cambridge: MA.
Edeling, A. & Fischer, M. Marketing Science Institute Marketing's Impact on Firm Value: Generalizations from a Meta-Analysis, Marketing Science Institute Working Paper Series 2014, no. 14-107, pp. 1-43, Cambridge, Mass.