MKT 6009 Marketing Internship (0 semester credit hours) Student gains experience and improves skills through appropriate developmental work assignments in a real business environment. Student must identify and submit specific business learning objectives at the beginning of the semester. The student must demonstrate exposure to the managerial perspective via involvement or observation. At semester end, student prepares an oral or poster presentation, or a written paper reflecting on the work experience. Student performance is evaluated by the work supervisor. Pass/Fail only. Prerequisites: (MAS 6102 or MBA major) and department consent required. (0-0) S MKT 6244 Digital Marketing Strategy (2 semester credit hours) Executive Education Course. The course explores three distinct areas within marketing and sales namely, digital marketing, traditional sales prospecting, and executive sales organization and strategy. The continuing convergence of the digital marketing and sales funnels has created a strategic continuum from digital lead generation to digital sales. The course identifies the current composition of this digital continuum while providing opportunities to evaluate sales and marketing digital strategies. Prerequisites: MKT 6301 and instructor consent required. (2-0) Y MKT 6301 (SYSM 6318) Marketing Management (3 semester credit hours) Overview of marketing management methods, principles and concepts including product, pricing, promotion and distribution decisions as well as segmentation, targeting and positioning. (3-0) S MKT 6309 Marketing Data Analysis and Research (3 semester credit hours) Methods employed in market research and data analysis to understand consumer behavior, customer journeys, and markets so as to enable better decision-making. Topics include understanding different sources of data, survey design, experiments, and sampling plans. The course will cover the techniques used for market sizing estimation and forecasting. In addition, the course will cover the foundational concepts and techniques used in data visualization and \"story-telling\" for clients and management. Corequisites: MKT 6301 and OPRE 6301. (3-0) Y MKT 6310 Consumer Behavior (3 semester credit hours) An exposition of the theoretical perspectives of consumer behavior along with practical marketing implication. Study of psychological, sociological and behavioral findings and frameworks with reference to consumer decision-making. Topics will include the consumer decision-making model, individual determinants of consumer behavior and environmental influences on consumer behavior and their impact on marketing. Prerequisite: MKT 6301. (3-0) Y MKT 6321 Interactive and Digital Marketing (3 semester credit hours) Introduction to the theory and practice of interactive and digital marketing. Topics covered include: online-market research, consumer behavior, conversion metrics, and segmentation considerations; ecommerce, search and display advertising, audiences, search engine marketing, email, mobile, video, social networks, and the Internet of Things. (3-0) T MKT 6322 Internet Business Models (3 semester credit hours) Topics to be covered are: consumer behavior on the Internet, advertising on the Internet, competitive strategies, market research using the Internet, brand management, managing distribution and supply chains, pricing strategies, electronic payment systems, and developing virtual organizations. Further, students learn auction theory, web content design, and clickstream analysis. Prerequisite: MKT 6301. (3-0) Y MKT 6323 Database Marketing (3 semester credit hours) Techniques to analyze, interpret, and utilize marketing databases of customers to identify a firm's best customers, understanding their needs, and targeting communications and promotions to retain such customers. Topics

Marketing for management.

Fast and frugal heuristics - simple rules for making decisions with realistic mental resources - are presented here. These heuristics can enable both living organisms and artificial systems to make smart choices, classifications, and predictions by employing bounded rationality. But when and how can such fast and frugal heuristics work? What heuristics are in the mind's adaptive toolbox, and what building blocks compose them? Can judgments based simply on a single reason be as accurate as those based on many reasons? Could less knowledge even lead to systematically better predictions than more knowledge? This book explores these questions by developing computational models of heuristics and testing them through experiments and analysis. It shows how fast and frugal heuristics can yield adaptive decisions in situations as varied as choosing a mate, dividing resources among offspring, predicting high school drop-out rates, and playing the stock market.

Simple Heuristics That Make Us Smart

Perspectives in supply chain risk management

Branding has emerged as a top management priority in the last decade due to the growing realization that brands are one of the most valuable intangible assets that firms have. Driven in part by this intense industry interest, academic researchers have explored a number of different brand-related topics in recent years, generating scores of papers, articles, research reports, and books. This paper identifies some of the influential work in the branding area, highlighting what has been learned from an academic perspective on important topics such as brand positioning, brand integration, brand-equity measurement, brand growth, and brand management. The paper also outlines some gaps that exist in the research of branding and brand equity and formulates a series of related research questions. Choice modeling implications of the branding concept and the challenges of incorporating main and interaction effects of branding as well as the impact of competition are discussed.

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Brands and Branding: Research Findings and Future Priorities

This article examines how product and consumer characteristics moderate the influence of online consumer reviews on product sales using data from the video game industry. The findings indicate that online reviews are more influential for less popular games and games whose players have greater Internet experience. The article shows differential impact of consumer reviews across products in the same product category and suggests that firms' online marketing strategies should be contingent on product and consumer characteristics. The authors discuss the implications of these results in light of the increased share of niche products in recent years.

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Impact of Online Consumer Reviews on Sales: The Moderating Role of Product and Consumer Characteristics

We present an analytical framework for understanding what makes a product category more conducive for store brand introduction. We also investigate market characteristics that help explain differences in store brand market share across product categories. Our findings suggest that the introduction of a store brand is likely to increase retailer's profits in a product category if the cross-price sensitivity among national brands is low and the cross-price sensitivity between the national brands and the store brand is high. Our model predicts that the store brand share would also be greater under these conditions. In addition, we find that the introduction of a store brand is more likely to lead to an increase in category profits if the category consists of a large number of national brands-even though the store brand market share is expected to be lower when there are a large number of national brands. We compare the key predictions of our model with data on 426 grocery product categories. The data are consistent with the predictions of the model.

The introduction and performance of store brands

The authors conduct a meta-analysis of 751 short-term and 402 long-term direct-to-consumer brand advertising elasticities estimated in 56 studies published between 1960 and 2008. The study finds several new empirical generalizations about advertising elasticity. The most important are as follows: The average short-term advertising elasticity is .12, which is substantially lower than the prior meta-analytic mean of .22; there has been a decline in the advertising elasticity over time; and advertising elasticity is higher (1) for durable goods than nondurable goods, (2) in the early stage than the mature stage of the life cycle, (3) for yearly data than quarterly data, and (4) when advertising is measured in gross rating points than monetary terms. The mean long-term advertising elasticity is .24, which is much lower than the implied mean in the prior meta-analysis (.41). Many of the results for short-term elasticity hold for long-term elasticity, with some notable exceptions. The authors discuss t...

How Well Does Advertising Work? Generalizations from Meta-Analysis of Brand Advertising Elasticities

Identifies some managerially relevant factors that influence the size of the price premium that consumers will pay for national brands over store brands in grocery products. We define price premium as the maximum price consumers will pay for a national brand over a store brand, expressed as the proportionate price differential between a national brand and a store brand. Overall, perceived quality differential accounts for about 12 percent of the variation in price premiums across consumers and product categories and is the most important variable influencing price premiums.

Factors influencing the price premiums that consumers pay for national brands over store brands

It is generally claimed that brand names are a corporate asset with an economic value that creates wealth for a firm’s shareholders. However, the scholarly literature has neither provided a comprehensive theoretical basis for this claim nor documented an empirical relationship between brand value and shareholder value. This exploratory study describes a rationale for, and documents, the statistical strength and functional form of a brand value-shareholder value relationship for publicly held consumer goods companies in the United States. A theoretical argument supportive of a positive relationship between a firm’s accumulated brand value and market-to-book (M/B) ratio was empirically validated. However, even though firms with higher accumulated brand values have higher M/B ratios, the functional form of the relationship was found to be concave with decreasing returns to scale. Theoretical and managerial implications of these findings are outlined, as well as study limitations and directions for future research.

Raj Sethuraman

Papers

The introduction and performance of store brands

How Well Does Advertising Work? Generalizations from Meta-Analysis of Brand Advertising Elasticities

Factors influencing the price premiums that consumers pay for national brands over store brands

Exploring the brand value-shareholder value nexus for consumer goods companies

How the COVID-19 Pandemic May Change the World of Retailing