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Agenda
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Conference on Collaborative & Multidisciplinary Research 55 Hillhouse Avenue, General Motors Room Registration Deadline: May 5, 2008 Thursday, May 8, 2008 6:00 - 7:30 p.m. Welcome Reception, Zinc, 964 Chapel Street, New Haven, CT. Friday, May 9, 2007 7:30 - 8:30 a.m. Breakfast 8:30 - 8:45 Welcome and Overview James Firestone, Executive VP & President, Xerox North America and Chair, YCCI Ravi Dhar, George Rogers Clark Professor of Management and Marketing & Director, Yale Center for Customer Insights Session One: Understanding Customer Choices Chair: Punam Anand Keller, Charles Henry Jones Third Century Professor of Management, Tuck School of Business, Dartmouth University 8:45 - 10:25 a.m. Presenters: Not Now, It's Too Easy: The Role of Accessibility on Inter-Temporal Punam Anand Keller, Annamaria Lusardi, Dartmouth Professor Keller will present research that tests the effect of accessibility and pre-commitment on intentions to take immediate action or delay participation in a health or wealth program. Four lab studeis support the premise that an increase in accessibility increases inter-temporal discuounting for corporate health and wealth programs.
Losses Loom Larger Than Gains in the Brain: The Neural Basis of Loss Aversion in Decision Under Risk Craig Fox, UCLA Professor Fox will present the results of collaborative studies on the neuroeconomics of loss aversion. Participants decided whether to accept or reject gambles that offered a 50/50 chance of gaining or losing money. He found that when preferences were weaker, individuals exhibited both longer response latencies and elevated activity in anterior cingulated cortex. He will discuss follow-up work contrasting neural representation of experience and decision utility, and an ongoing study of loss aversion among patients treated for Parkinson’s disease. He will conclude with a discussion of implications of this work for the study of consumer behavior. The Happiness of Giving: The Time-Ask Effect Jennifer Aaker, University of California, Berkeley This research examines how a focus on time versus money can lead to two distinct mindsets that impact consumers’ willingness to donate to charitable causes. The results of three experiments reveal that asking individuals to think about “how much time they would like to donate” to a charity increases the amount that they ultimately donate to the charity. Fueling this effect are differential mindsets activated by time versus money. Implications for the research on time, money and emotional well-being are discussed. The Effects of Incidental Exposure to Narrow vs. Broad Categories on Amitav Chakravarti, Vicki Morwitz, NYU; Gulden Ulkumen, USC Professor Chakravarti will present a simple, yet powerful idea: the fine-grained nature of one decision context systematically and reliably affects judgments and decisions made in a subsequent and unrelated decision task. He will present research that shows this effect occurs because exposure to a more fine-grained decision narrows people's category width and induces more careful information processing.
Session Two: Marketplace Impact Chair: Delaine Hampton, Director, Consumer Market Knowledge, P&G 10:35 - 12:15 p.m. Presenters:
Michael North, Argonne National Labs Simulation as an Interface Between Researchers and Practioners Integrating Art and Science to Build Strong Brands Michael D'Esopo, Lippincott A key challenge faced by many marketers is how to blend the science of marketing analytics with the art of developing a creative and compelling brand, and bringing it to life across the entire experience. In his presentation, Michael D’Esopo, senior partner at Lippincott, will discuss this challenge and share examples of both B2B and B2C companies that have successfully integrated art and science to develop powerful, compelling brands to convey differentiation and drive growth. Delaine Hampton, Bethany Foresman, P&G P&G is a leader in consumer knowledge and putting consumers at the forefront of business decisions. But the sheer quantity of information gathered can be overwhelming if not readily accessible in moments when decisions are being made. Recently, the P&G Air Care Business team conductied a pilot test of a new way to integrate foundational knowledge and bring it to life using visual techniques and information organizational methods. Delaine Hampton and Bethany Foresman from P&G's consumer and Market Knowledge organization, will demonstrate the benefits of better "knowledge interactivity" in dealing with typical business questions.
Knowledge in Motion Ramin Eivaz, Wachovia Mr. Eivaz's presentation will discuss how information and knowledge needs to be on the move in today's environment to maximize growth and customer loyalty.
Lunch 12:15 - 1:15 p.m. Session Three: Competitive Marketing Strategies Chair: Kannan Srinivasan, H.J. Heinz II Professor of Management, Marekting and Information Systems, Tepper School of Business, Carnegie Mellon 1:15 - 2:55 p.m. Presenters:
Retail Competition and the Dynamics of Consumer Demand for Tied Harikesh Nair, Wesley Hartmann, Stanford Professor Nair's research empirically investigates the demand for tied goods sold through competitng retail channels. Using the example of razors and blades, their research will present a forward-looking demand model that incorporates dynamics arising from the tied-good nature of the products and the stockpiling and durability aspects of razors and blades. A Two-Sided, Empirical Model of Television Advertising and Viewing Ken Wilbur, Assistant Professor of Marketing USC For marketers, television remains the most important advertsing medium. Professor Wilbur will present a two-sided model of the television industry. He estimates viewer demand for programs on one side and advertiser demand for audiences on the other, with the primary objective to understand how each group's program usage influences the other group. Beyond Plain Vanilla: Modeling Joing Product Assortment and Pricing Michaela Draganska, Stanford; Michael Mazzeo, Northwestern; Katja Seim, Wharton To make an informed product assortment decision, a manager needs an understanding of consumers' preferences, knowledge of the firms's cost structure and manufacturing capabilities, and an awareness of competitive responses. Professor Draganska will present a model that generates estimates of the fixed costs associated with offering particular products in addition to the typical demand and marginal cost parameters. Investigating the Role of Local Market and Exhibitor Characteristics Sriram Venkataraman, Emory; Pradeep Chintagunta, Chicago Through the use of a unique database of box-office revenues of individual movies over time, the objective of this presentation is to gain a better understanding of the drivers of motion picture box-office performance at the level of the individual exhibitor. Professor Venkataraman will present various experiments that provide insights to both the distributor as well as the exhibitor as they complement insights available from extand models and methods.
Session Four: Maximizing Brand Performance Chair: C. W. Park, Joseph A. deBell Professor of Marketing, Marshall School of Business, USC 3:05 - 4:45 p.m. Presenters: John Deighton, HBS Early in the internet era, it looked as if successful online marketing would follow the model of direct marketing. Data profiling and digital media would allow for deeper targeting and more intrusion into consumers lives than braodcst marketing. Then years later that view looks to have been wrong. Marketers no longer rule the market-they are invited guests. If they are provocative, pertinent and entertaining they get to stay. If they are overbearing there are ways to shut them out. Similarity vs. Fit Perceptions in Ratings of Brand Extensions: An Examination of Actor Co-brands Sanjay Sood, UCLA The brand extension literature has often used the terms category similarity and perceived fit interchangeably when explaining consumer reactions to brand extensions. Much of the previous research is based on the categorization literature, where similarity and/or fit are typically defined in terms of feature overlap. Professor Sood will demonstrate the author's use of Barsalou’s notion of ad-hoc categories to explain when perceptions of similarity and fit may differ as well as how these differences impact extension evaluations. Understanding Cultural Differences in Responses to Brand Extensions: The Role of Analytic vs. Holistic Thinking Deborah Roedder John, Minnesota; Alokparna Monga, UT-San Antonio Consumers evaluate brand extensions by judging how well they fit with the parent brand. We examine this process across cultures. We predict that consumers from Eastern cultures, characterized by holistic thhinking, perceive higher brand extension fit and evaluate brand extensions more favorably than do Western consumers, characterized by analytic thinking. This effect was predicted to be stronger for functional brands than prestige brands. Professor John will present several studies that provide support for the authors predictions and she will demonstrate the process. The Concept, Measure, and Effects of Brand Attachment as Brand C. W. Park, USC While consumer behavior and marketing literature has learned much about the concept, measure, and effects of strong positive brand attitudes, less is known about these issues regarding strong brand attachments. Professor Park examines the concept, measure, and effects of brand attachment.
Reception and Dinner, Union League Cafe 6:30 - 9:30 p.m. Anil Menon, VP Marketing Strategy and Worldwide Market Management, IBM Saturday, May 12, 2007 7:30 - 8:30 a.m. Breakfast Session Five: New Product Innovations Chair: Rajesh Chandy, James D. Watkins Professorship in Marketing Marketing/Logistics Management, Carlson School of Management, University of Minnesota 8:30 - 10:10 a.m. Presenters: Quantifying and Maximizing Aesthetic Preference Peter Boatwright, Carnegie Mellon One of the greatest challenges in new product development is the creating of a product form that is attractive to an intended market audience. The authors have developed methods that enable and support conjoint analysis to explore consumer preferences within a continuous parametric range of visual aesthetics. We apply our work to vehicle design, where our application can facilitate vehicle design by providing a time and cost efficient method to obtain market research on aesthetic preferences for vehicle design. This methodology will allow product developers to incorporate rich preference feedback from the market about product form, where market preferences can be collected extremely early in the development of the product concept. Evolution or Revolution? Business Model Innovation in Network Chander Velu, Cambridge; Jaideep Prabhu, Imperial College; Rajesh Chandy, University of Minnesota This presentation examines business model innovation in the context of network markets. Professor Velu will discuss a game theoretic model that shows dominant incumbents have an incentive to implement a revolutionary business model. He will present empirical analysis of the behavior of investment banks in the electronic trading of bonds. Vaporware, Suddenware, and Trueware: New Product Preannouncements under Market Uncertainty Elie Ofek, Associate Professor of Marketing, HBS A firm may want to truthfully preannounce its plans to develop a new product in order to stimulate future demand and benefit from hyping the market prior to launch. Given that such communications can affect competitors' incentives to develop the same new product, a firm may decide to preannounce untruthfully to deter rivals. Professor Ofek will present research that examines an incumbent's preannouncement strategy when there is uncertainty regarding the commercial viability of a new product opportunity and there is a threat of rival entry. Tim Mercer, Global Head of Alliances, Enterprise Div., Thomson Reuters Reuters is a 157 year old firm that has just completed its largest M&A transaction to become Thomson Reuters. Reuters has moved from a classic vertically integrated model of developing ideas internally to bring to market, through a period of consolidation through M&A where it has absorbed and merged its own ideas with those of other companies. Each approach requires a particular culture and competency. It now needs to develop the 21st century collaborative competency of "Open Innovation" in a competitive digital environment.
Session Six: Metrics & Marketing Strategy Chair: Florian Zettelmeyer, Associate Professor, Haas School of Business, University of California, Berkeley 10:20 - 11:35 a.m. Presenters: A Survey of Experiments on Combined Effect of Multi-Channel Online Messaging on Yahoo! Taylor Schreiner, Director, Marketing Insights, Yahoo! Inc. Online advertising allows for the analysis of the interplay of marketing messages in a way that no other medium has previously afforded. Yahoo’s Marketing Insights team has faced the challenge of helping marketers quantify and plan around these combined effects while simultaneously extracting general principles driving optimal marketing impact. We’ve approached this problem on a client-by-client basis, focusing on large scale experimental approaches over post-hoc analyses. We have been able to offer some general principles that help predict amplification effects from multi-channel online marketing, especially in the area of large unit display ads and search. How Does an Obligation to Collect Sales Tax Affect Consumer and Eric Anderson, Northwestern; Nathan Fong, Duncan Simester, Catherine Tucker, MIT Professor Anderson will examine how establishing a physical presence in a state affects both catalog and Internet demand. To examine whether a presence affects firm behavior, he analyzes store opening decisions for a panel of multi-channel retailers. He will show that current U.S. sales tax law have significant effects on both customer and firm behavior. Online Social Interactions: A Natural Experiment on Observational Yubo Chen, Arizona; Jinhong Xie, Florida When consumers make purchase decisions, they can be influenced by social interactions through consumers word-of-mouth and observational learning. Professor Chen will present research that develops a theoretical proposition on whether and how OL and WOM differentially affect consumers purchase decisions, how these effects vary over product lifetime and how OL and WOM interact with each other to jointly influence sales. Session Seven: Metrics & Marketing Strategy Chair: K. Sudhir, Professor of Marketing, Yale School of Management, Yale University 11:45 - 1:25 p.m. Presenters: Steven Shugan, Debanjan Mitra, Florida Professor Shugan will discuss that although measures, metrics and models have some common uses, that they do differ. He will present analysis that provides three practical implications for managerial decision-making. Empirical Investigation of the Impact of Loss Leader Promotion Strategy on Profits of a Supermarket Retailer Dinesh Gauri, Syracuse; Debabrata Talukdar, Buffalo; Brian Ratchford, UT Dallas The major motivation and goal of the research presented by Professor Gauri is to undertake a systematic empirical study of the impact of loss leader promotions on differenct measures of store performance in the context of grocery supermarkets. Price Stickiness and Customer Antagonism Duncan Simester, MIT; Eric Anderson, Chicago Asking managers about prices reveals they are often reluctant to vary prices for fear of antagonizing customers. Professor Simester will present experiments that investigated whether customer antagonism could lead to price stickiness. The authors experiments reveal how customers react if they buy a product and later observe the same retailer selling it for less. Do Customer Mind-set Metrics Predict Brand Performance? Shuba Srinivasan,UC Riverside; Marc Vanhuele, HEC; Koen Pauwels, Dartmouth Demonstrating marketing effectiveness is key for managers answering the growing call for marketing accountability. Professor Srinivasan will present research that analyzes the added predictive value of including customer mindset metrics in a marketing-sales response model that already accounts for long-term marketing efforts.
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