...
...
Synopsis: The title of my talk is “What is marketing management?” with the follow-up question “How should marketing management be taught at a business school?”. My starting point is that how marketing management is described in textbooksis not how marketing management is practiced nor how most people outside the marketing departments in business schools think of marketing. This is very different from other fields like finance, strategy, logistics, and accounting where we find a stronger link between theory and practice. A lot has been written in our journals describing the diminishing power and influence of marketing in top - management and in the board rooms, but but without any good solution to what we as a field in a business school need to do. I believe the STP and marketing-mix approach to marketing management is making marketing management tactical and not strategic, and that we rather should think of marketing management as how organizations should better connect their resources to to customers to grow the (future) value of the customer portfolio. Our work on CPLV illustrates the some of links between strategic marketing decisions and the mechanism of creating customer portfolio growth. And our work on developing more valuable relationships through brand relationship adaptation illustrates how we can start to think of managing heterogeneity and the dynamics of customer needs. I will also illustrate how the CPLV approach can be presented in marketing textbooks. I hope my talk will inspire academics in marketing to a critical reflection critically reflect on how we should teach marketing management and to build a stronger bridge between theoretical research and practice in our field.
Anchor Watson Watson
Jared Watson
Assistant Professor of Marketing at NYU Stern School of Business
Popular by What Measure? How Less (vs. More) Social Popularity Labels Influence News Media Consumption
Synopsis: People primarily consume news for information or entertainment. However, given the abundance of content available at any given moment, consumers may have difficulty deciding what articles will best satisfy these goals. To aid this decision, news outlets commonly highlight the most popular content using different labels (e.g., “most read” and “most shared”). This research demonstrates that these popularity labels can differ in their social basis and signal different levels of information versus entertainment value, which shapes consumers’ news preferences and decisions. Specifically, labels reflecting less (vs. more) social behavior (e.g., “most read” vs. “most shared”) convey higher information value but lower entertainment value. Thus, when consumers have information motives, they prefer less social popularity labels, a stronger signal of information value. Conversely, activating entertainment motives generates a preference for more social labels, a stronger signal of entertainment value. Additionally, we examine the moderating role of factors under the control of news outlets—endorsement source (i.e., readers vs. editors) and featured list position (i.e., top or bottom of page). We examine the effects of popularity labels on news consumption in two field experiments and seven lab studies (including two in the web appendix) and discuss the managerial and theoretical implications.