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Market-Based Assets and Shareholder Value: A Framework for Analysis

Rajendra K. Srivastava, Tasadduq A. Shervani and Liam Fahey
Journal of Marketing
Vol. 62, No. 1 (Jan., 1998), pp. 2-18
DOI: 10.2307/1251799
Stable URL: http://www.jstor.org/stable/1251799
Page Count: 17
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Market-Based Assets and Shareholder Value: A Framework for Analysis
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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.

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