articles 21 to 30 of 323
Word-of-mouth buzz is highly valued by marketers, but generating it can be a tricky proposition. In a new paper, Wharton marketing professors Jonah Berger and Raghuram Iyengar discuss how marketers can be more precise in crafting their campaigns to achieve better results. It's not as simple as blanketing the web with pop-up ads or blasting the airwaves with commercials, they note. It's about picking the right medium for the right message.
From: April 11, 2012
Does the Internet empower consumers? Or does it make them more vulnerable to manipulation by companies and potentially the government? While both statements might be correct, the balance tilts definitely toward the latter, according to Joseph Turow, a professor of communication at the University of Pennsylvania's Annenberg School. Turow, who wrote a book titled, The Daily You: How the Advertising Industry Is Defining Your Identity and Your Worth
, talked with Knowledge@Wharton about "one of history's most massive stealth efforts in social profiling."(Video with transcript
From: April 04, 2012
When a major disaster occurs, the result is an outpouring of aid, often in the form of donations to nonprofits like the American Red Cross. But once the dramatic images and news headlines begin to fade, donors often disappear as well. The question for groups like the Red Cross is how to identify and reach out to those one-time givers who are most likely to become regular donors. The answer may lie in the world of customer analytics -- the collection and mining of data on individual consumer behavior that is already revolutionizing how for-profit businesses operate.
From: February 01, 2012
Most Americans purchase roses only once or twice a year. But do they ever think about where these roses come from and what it takes to get them to their local market just in time for their purchase? Chances are that the roses bought for Valentine's Day or Mother's Day came from Colombia. Yet with the U.S. in a recession, the peso gaining value and an increasingly competitive environment, the floriculture industry in Colombia is looking for new ways to maintain and ideally increase its global market share.
From: January 03, 2012
When it comes to the market for luxury goods, China is seen by some as "the rising star." Luxury sales in China currently represent 10% of the global market, and one Asian investment bank estimates that by 2020, China will be the largest domestic market for luxury goods in the world, accounting for 44% of global demand. Consumption by Chinese consumers abroad has helped fuel this growth in more mature markets in Europe. One of the most popular luxury brands -- both in China and abroad -- is Louis Vuitton.
From: January 03, 2012
Fred Reichheld and Rob Markey's The Ultimate Question 2.0
is a follow-up to the bestselling book that first helped businesses understand their Net Promoter Score. One question -- would you recommend us to a friend? -- offered businesses a vital metric that has since been adopted widely by organizations, including GE. Wharton marketing professor Peter Fader spoke with Markey about what NPS is, how companies can increase the number of people who promote them and why it is now a system and not just a score.
From: November 22, 2011
Starbucks and Apple stocks have been trading at record highs, but are these and other businesses doing everything they can to ensure growth over the long term? Peter Fader, Wharton marketing professor and co-director of The Wharton Customer Analytics Initiative, argues that too many companies are customer friendly, but not customer centric. In other words, they treat each customer the same, missing an opportunity to discover who their most valuable customers are. In his new book, Customer Centricity
, part of the Wharton Executive Education Essentials Series, Fader describes what customer centricity is, what it isn't and why it matters.
From: November 18, 2011
In a new paper titled, "Closing the Marketing Capabilities Gap," Wharton professor George Day addresses the disconnect between the demands of markets and the ability of firms to meet those demands. Such a gap, he points out, is "costing firms profitability now and competitiveness in the future." Day and colleague David Reibstein talked with Knowledge@Wharton about the growing flood of data, new knowledge sharing technology, the socially networked and ever demanding consumer, and how some companies are successfully building their customer base, among other topics.
From: November 09, 2011
Online product reviews have become ubiquitous -- but does the text of these critiques tell a story that a star system can't? How does a consumer's definition of happiness affect buying habits? Are stock options always the best way to encourage risk-averse CEOs to invest in unpredictable but potentially value-creating projects? Can the desire for one reward be fulfilled with another? Professors Anindya Ghose, Cassie Mogilner, Christopher Armstrong and Jonah Berger, respectively, examined these issues -- and what they mean for business -- in recent research papers.
From: October 26, 2011
As food prices rise and the economy continues to sag, grocery shoppers are turning their backs on brand or chain loyalty in favor of finding the best bargains around. The shift has been a boon for warehouse chains, which sell items in bulk. It has also created an entire culture built around "extreme couponing" -- combining multiple discounts to amass stockpiles of products for pennies on the dollar. How should grocery chains and consumer goods companies deal with shoppers' changing habits?
From: October 26, 2011
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