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CEO Terry Lundgren: A Focus on Turning 'My Macy's' into Your Macy's
Terry Lundgren's experiences in retailing a generation ago recently led the Macy's CEO to come up with a new vision for how to organize the company's more than 800 stores. The concept, known as 'My Macy's,' calls on buyers and executives to focus on a small number of stores in a specific metro area as a way to offer customers more localized, personalized service. During a recent presentation at Wharton sponsored by the J.H. Baker Retailing Initiative, Lundgren talked about the nature of retailing, the role of celebrity-backed products and pop-culture figures in Macy's stores, and the challenges of selling in a recessionary economy.
From: November 11, 2009
Company Stores vs. Independent Retailers: Clash or Peaceful Coexistence?
Microsoft dipped its toe into retail waters this month by opening its first company store as a way to showcase the latest and greatest in PCs, Zunes and Xbox consoles. But computer companies aren't the only manufacturers moving into the retail space, says Wharton marketing professor David Bell. Whether it's handbags from Coach, shoes from Nike or suits from Ralph Lauren, consumers increasingly have the choice to buy products either at stores operated by manufacturers or from independent retailers. Bell recently co-authored a research paper looking into competition between company stores and independent retailers in the same market.
From: October 28, 2009
Will the Future of Advertising Be a Blend of Old and New Media?
Marketing executives commonly complain that old forms of advertising are dead -- but do emerging forms such as advertising through social networks deliver better results? Or would marketers be better off combining old and new media in a portfolio-driven approach that delivers strong results across different consumer segments? Those questions and more are being researched as part of the Future of Advertising Project at Wharton's SEI Center for Advanced Studies. The project was in the spotlight during Advertising Week in September with the launch of a new video channel called Fast.Forward in collaboration with Google.
From: September 30, 2009
Time vs. Money: Analyzing Which One Rules Consumer Choices
Pick up a magazine or turn on the TV and prepare for a flood of marketing messages about how you spend your time and money. Whether the product is beer or banking, Rolex watches or Ziploc bags, advertisers routinely invoke financial or time-related themes in their ad campaigns. Yet little is known about how consumers' attitudes and behaviors are influenced by a product's association with time or money, according to Wharton marketing professor Cassie Mogilner. New research by Mogilner and a colleague from Stanford University sheds light on how companies should use these concepts when promoting their products.
From: September 16, 2009
The iPhone in China: Will Apple Connect with the World's Biggest Mobile Market?
Global launches can be rocky, as Apple knows well. Last year, the company introduced its iPhone in India, but instead of the throngs of consumers seen at launch events in the U.S., the journalists assigned to cover the rollout reportedly outnumbered the customers. According to experts, the problems included a lack of marketing and a price tag set too high for Indian consumers. Now, as Apple prepares for an October launch of the iPhone in China in cooperation with service provider China Unicom, many are wondering if it will face similar hang-ups in the world's largest cell phone market.
From: September 16, 2009
The Crowded, Caffeinated Soft Drink Sector: Who Will Bubble Up to the Top?
The ritual is now a part of big-time, as well as small-town, football games. As the clock winds down, players grab an orange vat with a green label and douse the winning coach. This "Gatorade shower" has made the sports drink one of the world's best-known brands and helped pave the way for other niche products and beverage categories that now compete with traditional carbonated soft drinks. What marketing challenges do soft drink companies face, especially given health concerns and the recessionary economy? Wharton faculty and other experts weigh in.
From: September 02, 2009
Michael Steinhardt Discusses Israel's Place in the World
Following a high-profile career in finance in which he became one of the first well-known hedge fund managers, Michael Steinhardt began the Taglit-Birthright Israel program, a philanthropic enterprise which has provided free 10-day trips to Israel for some 220,000 Jewish youth to learn more about their heritage. Steinhardt spoke with Knowledge@Wharton about how the program helps to improve the country's image and the challenges of what he calls a deteriorating educational system in Israel -- marked by a brain drain in higher education. Steinhardt also discussed the country's culture of business innovation and how deep democratic roots can sometimes slow progress.
From: August 13, 2009
Israel's Image Problem and What to Do about It
In its 61-year history as a modern nation state, Israel has become synonymous with conflict and controversy, creating friction with hostile neighbors and, at times, setting itself up as a target for international reproach. But is Israel getting short shrift? Have Israelis been letting themselves down by failing to showcase their strengths? In an interview with Knowledge@Wharton, Wharton marketing professor David Reibstein explores the consequences of Israel's tarnished reputation, not only for the country in general, but also for Israel's business community, while also considering whether using better public relations and marketing tactics could improve Israel's image.
From: August 13, 2009
A New Kind of Campaign: Changing the World's Perception of Doing Business with Israel
Anyone who follows current events sees images of Israel that suggest a country defined by conflict and violence. Yet Israel has also made substantial contributions to the global marketplace in such industries as technology and medicine. The challenge for Israel going forward is to make the world more aware of its hospitable business environment. Marketing professor Yoram (Jerry) Wind and David Pottruck, former CEO of Charles Schwab & Co., and now chairman and CEO of Red Eagle Ventures, talked with Knowledge@Wharton about steps Israel can take to improve its image.
From: August 13, 2009
In a Recessionary Summer, Hollywood's Fondness for the Familiar Only Grows
Why is Hollywood in love with tried-and-true sequels and established franchises rather than producing original scripts? According to Wharton faculty, the industry's embrace of the sequel is an attempt to minimize its risk during an uncertain time, when the motion picture business finds its usual sources of funding and revenues under pressure from the recession. "If studio [executives] launch a movie where ... the merchandizing channels already exist, they are less likely to walk into a big box office disaster which could bury them financially when they can least afford it," says one expert.
From: August 05, 2009
