Prof. Dominique M. Hanssens Ph.D. (UCLA Anderson School of Management)

Transcription

1 Cologne, September 24, 2014 Photography: Aleksander Perkovic Prof. Dominique M. Hanssens Ph.D. (UCLA Anderson School of Management) Phone: Dominique Hanssens is the Bud Knapp Distinguished Professor of Marketing at the UCLA Anderson Graduate School of Management. He has served as the school's faculty chair, associate dean, and marketing area chair. From 2005 to 2007 he served as Executive Director of the Marketing Science Institute in Cambridge, Massachusetts. He is currently President-Elect of the INFORMS Society for Marketing Science. Dr. Hanssens studied econometrics at the University of Antwerp in his native Belgium. He then obtained an M.S. and Ph.D. in marketing from Purdue University. His research focuses on strategic marketing problems, in particular marketing productivity, to which he applies his expertise in data-analytic methods such as econometrics and time-series analysis. Professor Hanssens serves or has served as an area editor for Marketing Science and an associate editor for Management Science and the Journal of Marketing Research. His papers have appeared in the leading academic and professional journals in marketing, economics and statistics. Five of these articles have won Best Paper awards, in Marketing Science (1995, 2001, 2002), Journal of Marketing Research (1999, 2007) and Journal of Marketing (2010), and eight were award finalists. The second edition of his book with Leonard Parsons and Randall Schultz, entitled Market Response Models was published by Kluwer in 2001 and translated in Chinese by Shanghai People s Publishing House in Professor Hanssens won distinguished teaching awards in the UCLA MBA and Executive MBA programs. In 2003 he was awarded the UCLA Anderson School s Neidorf decade teaching award, in 2007 he was the recipient of the Churchill Lifetime Achievement Award of the American Marketing Association, in 2010 he was elected a Fellow of the INFORMS Society for Marketing Science, and in 2013 he received the AMA Mahajan Award for Career Contributions to Marketing Strategy Research. Professor Hanssens' consulting experience covers strategic marketing problems such as allocating marketing resources, assessing long-term marketing effectiveness and growing customer and brand equity. His approach emphasizes market-response modeling on sophisticated customer and marketing databases. He has conducted assignments for Agilent Technologies, British Telecom, Disney, Google, Hewlett Packard, Hughes, Johnson & Johnson, Mattel Toys, Mercedes, Microsoft, Schwab and Wells Fargo, among others. He is a founding partner of MarketShare, a global marketing analytics firm headquartered in Los Angeles.

2 Performance Growth and Vigilant Marketing Spending Dominique M. Hanssens Fang Wang Xiao-Ping Zhang Abstract Marketing executives are under pressure to produce revenue and profit growth for their brands. In most cases that involves requesting gradually higher marketing budgets, which is expensive, especially considering the known diminishing return effects of marketing. However, in reality, brand sales tend to evolve not gradually, but rather in spurts, i.e. short periods of sales evolution alternating with longer periods of stability. We use the Wang-Zhang (2008) time-series test to identify such growth-spurt periods and relate them to exogenous events such as positive product reviews, which create a temporarily more benevolent environment for the brand. We then explore how vigilant marketing can take advantage of such periods to generate and turn temporary sales growth into more sustained growth, at considerably lower cost to the brand relative to traditional percent-of-sales decision rules. We also derive the implications of such vigilant spending for marketing budget setting. Our empirical illustration is based on several brands in the digital singlelens reflex (DSLR) camera market. It shows that vigilant marketing spending is the exception rather than the rule in the spending behavior of these brands and therefore suggests considerable opportunity for revenue and profit improvement. Dominique M. Hanssens is the Bud Knapp Professor of Marketing, UCLA Anderson School of Management, Los Angeles, CA ( dominique.hanssens@anderson.ucla.edu). Fang Wang is Associate Professor of Marketing, School of Business and Economics, Wilfrid Laurier University, Waterloo, Canada ( fwang@wlu.ca). Xiao-Ping Zhang is Professor of Electrical and Computer Engineering, Ryerson University, Toronto, Canada ( xzhang@ee.ryerson.ca).

3 Cologne, September 24, 2014 Photography: Aleksander Perkovic Prof. Dr. Martin Spann (Ludwig-Maximilians-University Munich) Phone: +49 (0) Martin Spann studied Economics at the University of Kiel. He obtained his PhD (2002) and his Habilitation (2005) from the University of Frankfurt. He has been a visiting scholar/professor at the University of California at Los Angeles (UCLA), the University of Technology, Sydney (UTS), the University of Southern California (USC) and Bocconi University in Milan, Italy. From 2005 to 2010, he was a Professor of Marketing and Innovation at the University of Passau. Since 2010 he is a professor and director of the Institute of Electronic Commerce and Digital Markets at Ludwig- Maximilians-Universität (LMU) Munich School of Management. Further, he serves as dean of research of the Munich School of Management and director of the LMU Center for Advanced Management Studies (LMU CAMS). His research interests include e-commerce, mobile marketing, prediction markets, interactive pricing mechanisms, and social networks. He has published in Management Science, Marketing Science, Journal of Marketing, Information Systems Research, MIS Quarterly, Journal of Retailing, Journal of Product Innovation Management, Journal of Interactive Marketing, Marketing Letters, Decision Support Systems, and other journals.

4 Location-Based Services and Mobile Marketing Martin Spann Abstract Location-based services provide information to mobile users about their geographical proximity to different businesses (e.g., shops, retailers and restaurants). Similarly, IP-tracking also allows companies to identify the (approximate) location of users browsing the web with their personal computer (PC). Searching for product-related information (e.g., geographical distance to offline locations or discounts) implies a cognitive effort dependent on the position of the offer on the screen. The presentation discusses the specifics of location-based services and mobile marketing. Further, it presents the results of a study that tests the effectiveness of location-based advertising by analyzing the impact of geographical distance between a user and a retail store and the provision of distance information on consumers response to mobile coupons. The study conducts a large-scale randomized field experiment involving a location-based advertising application available for smartphones. The experimental manipulation is whether distance information is provided and whether coupon ranking is displayed according to distance.

5 Cologne, September 24, 2014 Photography: Aleksander Perkovic Prof. Werner Reinartz Ph.D (University of Cologne) Phone: +49 (0) Dr. Werner Reinartz is a Professor of Marketing at the University of Cologne, Germany. Furthermore, he is the director of the Center for Research in Retailing (IFH), one of the largest applied research centers in the Faculty of Management and Economics. Previously, he was the Cora Chaired Professor of Retailing and Management at INSEAD, France. His research interest and expertise focuses on the subjects of marketing strategy, retailing, customer management, advertising effectiveness, and channel management. In particular, he is interested in the questions of how firms can compete successfully in mature markets, marketing mix efficiency and effectiveness, and the successful management of lasting, profitable customer relationships. His work in these domains has been recognized with major academic awards, such as the 1999 AMA Doctoral Dissertation Competition, the 2001 Don Lehmann Award for the Best Dissertation- Based Research Paper to be published in Journal of Marketing Research or Journal of Marketing, the 2003 and 2005 MSI/Paul Root Award of the Journal of Marketing, Finalist for the 2009 O Dell Award, and the 2011 Sheth Foundation/Journal of Marketing Award for long-term contribution to the marketing discipline. He has published extensively in journals such as Journal of Marketing, Journal of Marketing Research, Journal of Consumer Research, Journal of Retailing, International Journal of Marketing, and Journal of Service Research. In addition, his research was presented in five different feature articles in Harvard Business Review. Furthermore, he is an area editor of both International Journal of Research in Marketing and the newly founded Journal of Marketing Behavior as well as a member of the editorial boards of Journal of Marketing and Marketing Science. His book Customer Relationship Management, coauthored with V. Kumar, is the leading text book in this domain. In June 2010, he was the host of the INFORMS Marketing Science Conference in Cologne. Professor Reinartz holds a Ph.D. in Marketing from the University of Houston (1999).

6 It s all about the How? Executional Strategies in TV-Advertising Werner Reinartz Abstract Despite a long-standing history and many strong findings, research in advertising effectiveness is still high on the academic and practitioner agenda. With respect to the impact on sales, econometric advertising-sales response models have been mostly focusing on investigating the impact of advertising spendings and scheduling. Comparatively much less attention has been paid to executional elements of the advertising message. Given an ever increasing number of ads being aired and limited cognitive capacity of consumers, marketers need to find ways to make an advertising stand out, beyond the mere media spendings. However, there is surprisingly little evidence in the advertising-sales response literature with respect to the effectiveness of different executional elements. The current study attempts to contribute to closing this gap. In particular, we investigate the effect of different executional elements of the ad on sales performance of the advertised product. The study is conducted in the FMCG context in Germany, covering 297 brands over 3 years. The objective is to pinpoint how ad execution enhances ad effectiveness and to help managers to increase their return on advertising investment.

7 Cologne, September 24, 2014 Photography: Aleksander Perkovic Prof. Dr. Marc Fischer (University of Cologne) Phone: +49 (0) Marc Fischer (PhD, University of Mannheim) holds the Chair for Marketing and Market Research at the University of Cologne. His expertise includes the measurement and management of marketing performance, brand management and the optimization of the marketing mix. His articles have appeared in Journal of Marketing Research, Marketing Science, Quantitative Marketing and Economics, International Journal of Research in Marketing, Interfaces, and other academic journals. He won the ISMS-MSI Practice Prize and was finalist for 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 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 boards 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 State University of Management at Moscow and served as executive director of the Center for Market Research at the Institute for Market and Economic Research in Passau.

8 Short and long-term Effects of Crisis Events on Brand Equtiy Marc Fischer Abstract Companies invest heavily in building up brands. Brand crises (e.g., product-harm crises, environmental scandals) may severely harm the trust and confidence consumers place in brands. Hence, tediously and carefully established brand equity can suffer severely during crises. Although academic literature supports a general negative impact of brand crisis events on consumers brand evaluations and purchase behavior in specific crisis situations, our study is the first to look systematically at multiple crisis causes in an empirical setting differentiating between short-term and long-term effects. We conduct a comprehensive investigation of the dynamic crisis impact on consumer-based brand image based on a unique dataset of 214 crisis events across 12 industries, 69 brands, and 5 years of weekly data. By using an ECM model, we apply a two-stage approach in order to (1) estimate the shortand long-term impact of crisis events on brand image and (2) analyze drivers (crisis characteristics vs. firm characteristics) that explain differences in the short- and long-term effects. Our results show that the overall impact is mainly driven by the type of the crisis (product-crises vs. behavioral-related crises) and its media coverage. Furthermore, brand familiarity serves as an important shield in order to protect brand image in the long run. These findings help better forecast brands image drops when facing crisis events and give guidance to marketing managers to appropriately react dynamically (adjust short-term and long-term actions) in response to a crisis.