Fox 61 – Walmart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.
Decision Support Systems, 2015.
Consumers are increasingly using mobile services for engaging with firms in the offline world both directly through purchases and loyalty points redemptions, and indirectly through mobile gamification portals related to the retail outlet. One major such portal is Foursquare, the location-based service provider, which has been gaining popularity in the last few years. Continue Reading
Journal of Interactive Marketing, Volume 29, February 2015, Pages 39-56.
Firms typically have detailed information only about their own customers. In order to gain a broader view of customers across firms, several firms may pool their data together and engage an intermediary called a co-operative database firm to manage and analyze the pooled data to provide better targeting solutions for the firms. In this paper Professors Liu and Pancras study these interesting intermediaries by developing a framework for firms to manage customer acquisition risk using co-operative databases.Continue Reading
Marketing Letters, 2015, 1-16.
Joseph Pancras (Marketing) and Dipak K. Dey (Statistics) Co-author: Xia Wang (University of Cincinnati)
Targeted marketing is increasingly popular among new media firms and accurate targeting requires well-calibrated statistical models which will identify customer preferences from their previous historical transactions so as to customize an offering to their needs. A typical example of such targeted marketing is customized pricing, where a price sensitive customer is given a coupon with a higher face value, while a less price sensitive or brand loyal customer may be given a lower face value or no coupon at all. Continue Reading
Marketing Science Institute – Rajkumar Venkatesan, Joseph Pancras, and Bin Li investigate the value of competitive mobile loyalty program platforms for intermediaries and retailers.
Nicholas Lurie and Joseph Pancras, associate professors of marketing, were invited to the Thought Leadership Conference on “Mobile Marketing and its Implications for Retailing” held at the Mays Business School, Texas A&M University on Jan 21-23. Leading researchers in mobile marketing and industry practitioners participated in work group discussions on five different areas of mobile marketing.Continue Reading
Thirty students in the ‘Integrated Marketing Communication in the Digital Age’ class taught by Joseph Pancras in Fall 2014 participated in a semester-long IMC campaign with Sequel, the brand licensee for GUESS Watches. GUESS Watches is a mid-level luxury brand that defines itself as bold, adventurous, and sexy. An iconic brand, it has launched the modeling careers of celebrities such as Brooke Shields, and is looking to expand its presence and relevance in campuses across the United States.
Students worked in four major functional groups: Strategy, Advertising/Creative, Public Relations and Budgeting, and Marketing Research. Teams consisted of members from each functional group to coordinate responsibilities for the UConn GUESS Watches campaign, which would serve as a pilot launch for related GUESS Watches events on other campuses.
The Advertising group created a strong logo and slogan, encompassing GUESS’ message and values and relating to UConn students with the slogan, “Be Bold, Be Blue”. They used bus advertisements, flyers, social media platforms, and useful promotional to attract students and raise awareness and online buzz.
The Strategy team organized and planned the campus event. Four of the event’s 500 student participants received GUESS watches, while others received branded items for participating in activities like spinning a wheel, “guessing the candy in the jar,” and surveys.
The PR/Budget team delivered the message the Advertising Team created to UConn students by targeting popular social media websites, placing advertisements in areas of high student use, and having Her Campus write about the event.
The Market Research Team focused on creating a pre-survey and post-survey to uncover how people perceived the GUESS brand and watches. Their findings revealed that most students perceived the brand as cool and high-end. Additionally, the post survey revealed that positive impressions improved by 17.7% after the event.
After the event, the students submitted a final report to Sequel and presented before senior Sequel executives, who attested to the project’s value.
Education takes many roads! In January, Professor Bill Ross led an MBA group to Lyon, France, and in June, Professor Robin Coulter led the Executive MBA Class of 2014 on their trip to Beijing, China (see the photos here). Both trips were filled with enriching academic and cultural experiences.
We are pleased to share these with you in our latest newsletter, along with exciting updates from our undergraduate, graduate, and Ph.D. programs here in Connecticut.
>>Access the Fall 2013 Marketing Department Newsletter (PDF)
In this issue, you’ll read about our undergraduate students who developed a promotional and advertising campaign for the Honda Civic sedan and graduate students who tackled marketing challenges for The Palace – Stamford Center for the Arts and News America Marketing.
You’ll find that we are also looking forward to some exciting research: Professors Hongju Liu, Nicholas Lurie, and Joseph Pancras received prestigious Marketing Science Institute grants for their proposals on mobile marketing.
View the full newsletter here to learn more. We are looking forward to a great 2013-14 academic year!
Professors Hongju Liu, Nicholas Lurie and Joseph Pancras, Marketing Department, UConn School of Business, have received research awards from the Marketing Science Institute (MSI) competition, “Mobile Platforms, Location-Based Services, and their Impact on Customers.” MSI received 35 proposals and funded only six, including two featuring UConn faculty. Please join us in congratulating the following scholars who have earned this honor:
- Nicholas H. Lurie, Sam Ransbotham, and Hongju Liu: “Going Mobile: The Characteristics and Influence of Mobile Word of Mouth” received an $11,800 award.
- Joseph Pancras, Rajukumar Venkatesan, and Bin Li: “Returns from Customizing Mobile Loyalty Programs: Spatial and Temporal Aspects” received a $13,000 award.
The competition was sponsored by MSI to stimulate research that contributes new insights to marketing practice. According to MSI, “There is widespread expectation that while mobile devices currently absorb a small part of marketing spending, they have game-changing implications for marketing in the future. This research competition [was] intended to provoke exploration of these implications.”
Pictured left to right: Hongju Liu, Nicholas Lurie and Joseph Pancras