MKT ADVISORY BOARD 06

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Published on January 13, 2009

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Department of MarketingOverviewDr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise : Department of MarketingOverviewDr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise Teaching : Teaching Academic Programs #3, Marketing Undergraduate Program, U.S. News and World Report #9, Marketing Graduate Program, U.S. News and World Report #18 MBA Program, U.S. News and World Report Teaching Awards : Teaching Awards Bob Peterson- AMA Distinguished Marketing Educator Award (2006) Raji Srinivasan- Trammell/CBA Foundation Teaching Award for Assistant Professors (2006) Frenkel ter Hofstede- CBA Foundation Advisory Council Award for Teaching Innovation (2006) Kate Mackie- MBA Applause Teaching Award (2005) Kate Mackie- MBA Honor Roll (2004, 2005) Research Awards : Research Awards Susan Broniarczyk, Wayne Hoyer, and Leigh McAlister- O’Dell Award for top paper in Journal of Marketing Research over 5 year period (2003) Frenkel ter Hofstede- O’Dell Award for top paper in Journal of Marketing Research over 5 year period (2003) Frenkel ter Hofstede- CBA Foundation Research Excellence Award for Assistant Professors (2005) Frenkel ter Hofstede- MSI Young Scholar (2003) Raji Srinivasan- CBA Foundation Research Excellence Award for Assistant Professors (2006) Vijay Mahajan- recognized by ISIHighlyCited.com as one of the most highly cited Business/Econ researchers in the world Vijay Mahajan- Best paper award IJRM (2004), Best paper award, JAMS (2004) Research Awards (cont.) : Research Awards (cont.) Raj Raghunathan - MSI Young Scholar (2005) Wayne Hoyer- Award for Research Excellence- MSB (2004) Wayne Hoyer- Award for Outstanding Research Contributions- MSB (2005) Mark Alpert and Linda Golden- American Risk and Insurance Prize for most valuable contribution (2003) Linda Golden- Robert I. Mehr Award for journal article with 10 year lasting contribution to risk management (2004) Composition of Faculty : Composition of Faculty Full Professors: 8 Associate Professors: 3 Assistant Professors: 4 Lecturers: 13 full and part-time Newest Faculty : Newest Faculty Garrett Sonnier (UCLA) Teaching Areas- Marketing Core, Marketing Research, Pricing Research Areas- Choice models, Bayesian analysis, empirical modeling in product and brand management, econometrics Interaction with Industry : Interaction with Industry Involvement with the Center for Customer Insight (Accenture, Frito Lay, 3M, H-E-B, Ford, Quarry Communications, Philip Morris) Customer Strategy Class (Frito Lay, Dell, Freescale, Ford, P&G, 3M) Practicum (Dell, Frito Lay, 3M, H-E-B, Ford, Verizon, Philip Morris, SBC, Freescale, Dow Chemicals, Applied Materials, Accenture, P&G, Traq Wireless, Nortel Networks, Vignette) CCI Practica : CCI Practica Fall 2005 Freescale: Home Networking Conduct a market study to explore, define and quantify potential business opportunity in home networking that will contain a high semiconductor content Frito-Lay: Packaging Innovation  Create a portfolio of products/packaging that provides emotional and functional benefits to the multi-tasking consumer during the work/study need state Yucatan Foods: Consumer Marketing Strategic Growth Plan  Develop a recommendation for Yucatan Foods’ strategic growth plan in the Hispanic Food Category (specifically, guacamole, fresh salsa and other avocado derivative products) CCI Practica : CCI Practica Spring 2006 Accenture: Value Model for RFID Use in the Home Explore the value of RFID technology in consumers' daily lives and develop a value model for new product development Emergency Service Partners, LP: Establish Brand Message  Establish brand message and formulate a plan for implementation and spread Heinz Frozen Sauces: Market Opportunity Assessment for Frozen Sauces  Determine if and how frozen sauce offerings should be expanded Lance Armstrong Foundation: LIVESTRONG™ International Merchandising Project  Explore the feasibility of expanding the merchandise line for distribution into international markets Yucatan Foods: Consumer New Market Entry Strategy  Development of a successful strategy recommendation to serve the 1st/2nd generation Hispanic customer Community Involvement : Community Involvement Faculty involved in projects with: US Bureau of the Census, SafePlace (shelter for battered women), Governor’s Task Force on Obesity, Center for Domestic Violence, Hospice Austin Frequent class projects for local non-profit organizations Course on Community Development and Social Enterprise Slide 12: Accepted Offers for 2005 and 2006 Graduates FT Employment Functions2006 Graduates : FT Employment Functions2006 Graduates Slide 14: 3M American Airlines ChevronTexaco Coca-Cola Con Agra Dell Dow Chemical Dupont Eli Lilly Federal Express Ferragamo Frito-Lay GE Company General Mills H.J. Heinz Hoover's IBM Johnson & Johnson Kimberly-Clark Miller Microsoft Ortho-McNeil PepsiCo Pfizer Philip Morris Procter & Gamble RadioShack RealNetworks TXU Marketing and Brand Management Slide 15: 2006 FT average (current) Annual salary $91,811 Signing Bonus (88%) $19,621 2005 FT average (final) Annual salary $84,025 Signing Bonus (54%) $14,449 Salary Statistics MKT Strengths : MKT Strengths Very strong and well trained researchers- high research productivity A culture that develops junior faculty Good interaction with industry (faculty/industry consortium, practicums, and projects) Innovative courses (Customer Strategy, Customer Insight, etc.) Center for Customer Insight Key Initiatives for 2006 : Key Initiatives for 2006 Recruiting new faculty (7 in next 3 years) Attract more MBA’s into Marketing Improve MBA Marketing core class Increase the rigor and analytical content of all courses Continue to reduce the class size and increase the rigor of Principles of Marketing (U-grad) Increase Industry collaboration Faculty/Industry Consortium Key Items for Discussion : Key Items for Discussion Center for Customer Insight Center Direction ReLaunch Fresher Message New Name? Center Projects (Future Consortia and Collaboration) Hot Topics Faculty/Industry Consortium Update : Faculty/Industry Consortium Update Original Idea: Develop a consortium of industry collaborators (diverse group) and faculty to: Participate in ‘think tank’ sessions Develop a research agenda TOPIC: Must be ‘cutting edge’ and of great interest to both industry and academics: EX: Future impact of RFID/EPC technology on marketing and business practice RFID Consortium(derived from 2005 AB Meeting) : RFID Consortium(derived from 2005 AB Meeting) October 21, 2005 Philip Morris, FedExKinko’s, Dell, HEB, Accenture Identification of Broad Level Key Research/Practicum topics such as: What is ROI at different levels of investment? -moving return forward- Trade off Privacy versus consumer benefits -how much consumers are willing to give up -how to best mollify consumers to accept -what are consumers concerns to resistance? More Topics : More Topics Historic cases of adoption -(case historics) similar products/technologies Consumers vision of RFID benefits –Evaluate different benefits –trade-offs -enough benefit to keep or change loyalty -changes purchasing patterns? -varies by segment? Implications for internet shopping? Build a model of consumer adoption of RFID –is there any consumer pull? Outcomes : Outcomes Companies asked: to assist in defining the broad-level topics into actionable semester-long projects to consider sponsoring one of the projects to consider serving as point of contact for a project _____________________ Goal: Host 4 RFID focused projects for the Spring 2006 Semester and follow-up with an end of semester RFID event in which participating companies would attend. Results : Results Only One RFID practicum conducted (in collaboration with Accenture) ______________________ Need input on how to improve process of soliciting more feedback and increasing company involvement Slide 24: Industry Needs & Perspectives Hiring Needs Recruiting Challenges New hires roles/positions Desired Skill sets Advice for the Department Slide 25: Dept of Marketing Needs & Perspectives Student interest shifting from Mktg Marketing & promotion strategies Curriculum changes APPENDIX : APPENDIX Slide 27: Current data Median monthly salary $6,000 Average monthly salary $6,283 Internships – Class of 2007 Curriculum in MBA Program : Curriculum in MBA Program Specializations General Marketing Brand Management Customer Insight MBA Electives : MBA Electives Brand Management Marketing Communications Consumer Behavior Strategic Marketing Marketing Research Corporate Governance Customer Insights Customer Relationship Management Innovative Business Marketing: Creation of Value Marketing Analysis and Decision Making in the Information Age New Product Design and Marketing Customer Strategy Pricing/Distribution Strategies Marketing High Tech Products Service Management Marketing and Customer Insights Practicum BBA Courses : BBA Courses Required: Principles of Marketing Information and Analysis Marketing Policies Slide 31: Electives Professional Selling and Sales Management Retail Merchandising Brand Management Customer Insights Consumer Behavior Marketing Communications High Tech Marketing Data Mining Customer Relationship Management Direct Marketing Global Marketing Community Development and Social Enterprise

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