Stern Marketing 2019-20 Newsletter

SternMarketing 201 9 -2020 NE WS LE T T ER

STERN MARKETING: AT A GLANCE Through cutting-edge research and innovative teaching methods, Stern Marketing is shaping the business leaders of tomorrow.

Our mission as one of the world's top marketing departments continues to be excellence in research and in teaching, and to make significant contributions to the ever-evolving academic and business communities.

BOARD 48 EDITORIAL POSITIONS HELD PUBLISHED 30 ARTICLES AY 2018-2019

27 16

FULL-TIME FACULTY DOCTORAL STUDENTS As of Sept. 1, 2019

DALLAS #2 UT RESEARCH RANKING* UNDERGRADUATE #3 BEST MARKETING PROGRAM MBA #8 BEST MARKETING PROGRAM †

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*Worldwide research ranking, 2014-2018, published March 15, 2019 † Based on 2019 U.S. News & World Report Rankings 2 | 2019-2020 N E W S L E T T E R

LETTER FROM THE CHAIR At NYU Stern Marketing, with 27 full-time professors, 4 affiliated faculty, 50+ adjuncts and 16 PhD students, we are proud to be a diverse, inclusive, and innovative team. Indeed, we have consistently kept apace with the ever-evolving academic landscape, taking 2nd place in the 2014 to 2018 Worldwide Research Productivity Rankings (published by UT Dallas on March 15, 2019).

Our programs and initiatives, including the Entertainment, Media & Technology Program, and the NYU Stern CBS Media Analytics Initiative, capitalize on our NYC location to foster a unique union of industry and academia.

Stern Marketing’s faculty is committed to creating space for new voices to be heard, and as a result, we have faculty from all corners of the globe.

We also continue to boast the highest percentage of female full-time tenure track faculty and the highest number of junior female tenure track quantitative marketing faculty among comparable marketing programs. We are striving to change the face of a traditionally male-dominated field.

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The wide variety of our faculty’s research interests is evident in the books they have authored, the lectures they have given, the research they have published, and the grants they have been awarded.

Stern Marketing facilitates the exploration of topics such as psychology, judgement and decision making, quantitative marketing, social media, technology, and more. We encourage collaboration and engagement in cross-disciplinary research, blurring traditional boundaries between "CB" and "Quantitative /Marketing Science" research.

The past year has been an especially exciting year at Stern Marketing. In June 2019, Stern Marketing was pleased to host the AMA Sheth Foundation Doctoral Consortium, which had not been in New York City for 32 years. This year’s program consisted of a series of presentations, group sessions, networking events, and collaboration between illustrious marketing Faculty and doctoral Fellows. A week later, many of our faculty also attended the 2019 ISMS Marketing Science Conference in Rome, co-organized by Stern

Marketing and Department of Business Studies, University of Roma Tre. The conference brought together marketing scholars, practitioners, and policy makers with a shared interest in using rigorous scientific research to solve marketing problems.

With 1,312 conference registrants, the conference set a new registration record.

I am truly honored to continue guiding this department as its Chair.

Best wishes,

Tülin Erdem Chair, Marketing Department

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RECENT DEVELOPMENTS IN

STERN MARKETING RESEARCH Name Similarity Encourages Generosity: A Field Experiment in Email Personalization

Swayed by the Numbers: The Consequences of Displaying Product Review Attributes

Marketing Science

Journal of Marketing

Professors Adam Alter and

Professor

Minah Jung and PhD student

and co-authors demonstrate

Kurt

email

the conditional influence of

an

average product ratings and

giving

the number of reviews for

Munz

examine

personalization education platform

within

charitable and

effectiveness

measure of

the

matching

potential donors to specific teachers

in

need,

finding

that using a person’s name in marketing communications may

capture

attention

and

Dynamic Demand for New and Used Durable Goods without Physical Depreciation: The Case of Japanese Video Games Marketing Science

Large Scale Cross Category Analysis of Consumer Review Content on Sales Conversion Leveraging Deep Learning Journal of Marketing Research Professor Xiao Liu and costudy

review-reading

the

role

of

behaviors

in

consumer purchase journeys, leveraging

a

granular-level

dataset that tracks individual consumers’ journeys

entire

and

decision

finding

that

aesthetics and price content in reviews significantly affect conversion

across

a

wide

range of product categories.

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Watson

online purchases.

bridge social distance.

authors

Jared

Professor Masakazu Ishihara and

co-author

Andrew

T.

Ching examine the data from the

Japanese

video

game

market to quantify the impact of eliminating the used game market on firms' profits and consumer welfare.

Retailers’ Product Location Problem with Consumer Search Quantitative Marketing and Economics Professors Raluca Ursu and Daria Dzyabura study how a retailer should optimally locate products within a store when the locations chosen affect consumer search costs and find that retailers have an incentive to prioritize products with lower utility, a strategy that benefits the retailer by increasing the number of products a consumer searches and may buy.

The Consequences of Sharing Current Opinion in Psychology Professor Alixandra Barasch presents a framework to organize recent findings about sharing information along two dimensions: the type of consequence and the valence of the shared information.

RECOGNITION & AWARDS

Raluca Ursu received the ISMS Bass Best Paper Award.

Eitan Muller is the 2019 EMAC Distinguished Marketing Scholar.

Stern Marketing was awarded the Marketing EDGE Award for Education.

• Xinyu Cao was named a Fellow on the Faculty Development Forum Committee by Washington University in St. Louis for her quantitative research in marketing.

• Anindya Ghose received the NYU Stern Distinguished Teaching Award.

• Geeta Menon received the NYU Stern Faculty Leadership Award.

• Alix Barasch and Geeta Menon both received the Inaugural Dean Geeta Menon Award for outstanding engagement in contribution to the NYU Stern Program for Academic Research (SPUR).

• Kim Corfman was named a Distinguished Service Professor of Business.

• Jared Watson was awarded "Best Conference Paper" at AMA's CBSig Conference.

• Sunder Narayanan's team of undergraduate students won the 2019 International Studies Program Competition.

• Steven Dallas was given an Honorable Mention in NYU's Inaugural SternMarketing 2019-2020 N E W S L E T T E R | 5 Outstanding Dissertation Awards.

WELCOME BACK FACULTY BRYAN BOLLINGER

GEETA MENON

Associate Professor of Marketing Joins us from Duke

Returns to the department full-time after serving 8

What are your research interests? What questions do you want to ask, or what areas do you want to explore?

What are you most excited about bringing to the marketing department from your experience as the Undergraduate Dean?

My research aims to understand the causal effects of policymakers’ decisions in sustainability domains, and the interdependent reactions by consumers and firms. I have studied the effect of nutritional labeling, drivers of green technology adoption by firms and consumers, the role of home-automation on response to dynamic electricity pricing, and the effect of social norms and peer effects in sustainable behaviors such as water consumption and solar panel adoption.

One of the most important things that I had to do in my role as Dean was to think more broadly about business than I was used to as a researcher. This meant thinking more about latest trends in other nascent areas and fields.

This, in turn, has affected my research interests, and I am now delving into topics related to technology and consumer well-being. I hope as a result I can bring that to bear on my teaching as well, which will add to the existing strengths of the marketing department. I also met several fabulous alumni and I hope these connections can help the Marketing Department bring in leaders in business to further stimulate our thinking as well as expand our research opportunities.

Why did you choose to join the faculty at Stern, and what do you hope to accomplish here? How do you see the future of this department?

When I first joined Stern in 2011, I knew it was a special place. In addition to the excellent students across the programs in which I taught, my colleagues established an incredibly vibrant research community. This was a driving factor in my decision to return to Stern. Given the interdisciplinary nature of my research, I hope to help foster this environment both within and across departments, and to incorporate more of my research into the classroom. In addition to the colleagues whom I knew from my previous time here, the department has hired some terrific scholars in the last five years whom I hope to get to know and work with.

Where do your interests lie outside of work/ academia?

I have three children between the ages of three and eight, so they keep me quite busy. I love the outdoors, so I spend time hiking, biking, and fishing in Alaska (where my wife was born and raised), the Adirondacks, and my native New England. I was a rower in college which took up most of my free time, but have since returned to playing tennis and basketball.

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years as dean of the stern undergraduate college

What are some accomplishments of the UC college during your tenure as dean?

Applications to the UC increased by 80% from 2011 to 2019 for the same number of admitted spots and in 2018, the UC achieved single-digit admit rates for the first time ever. We launched the undergraduate Office of Student Engagement (OSE) and introduced the Stern Program for Undergraduate Research (SPUR) in 2012. We also enhanced academic oversight of Stern classes and expanded business courses across NYU’s global network.

What do you love most about working at Stern?

I am thankful for my amazing colleagues and the opportunities the school has given me over the last three decades. I’ve been so impressed by the students and have had the pleasure of mentoring several doctoral students as well. In short, I love the school, my colleagues, the students and of course the location! #WeAreStern

STERN MARKETING PH.D. PROGRAM RECENT PhD STUDENT ACHIEVEMENTS • Heeyoung Yoon was selected by the doctoral committee to be NYU Stern's Doctoral Fellow representative at the 2019 AMA-Sheth Doctoral Consortium.

• Kurt Munz and Vicki Morwitz received a $3,000 grant from the Center of Global Economy and Business for their work on auditory judgment and decision making in conversational commerce.

• Nofar Duani won a grant of $12,700 for her joint research (titled "When Alexa Charges You More: Technology and Market Fairness") with Alix Barasch and Vicki Morwitz from the Carolan Research Forum.

• Former PhD student Stephanie Tully has accepted a position as Assistant Professor of Marketing at Stanford University.

• Former PhD student Anna Paley has accepted a position as Assistant Professor of Marketing at Tilburg University.

Jennifer Hong successfully defends her dissertation

ONWARD AND UPWARD!

BAEK JUNG KIM

JENNIFER S. HONG

Stern PhD, ‘19 Joins University of British Columbia

Stern PhD, ‘19 Joins Seattle University

Baek Jung holds a Ph.D. in Marketing from the Stern School of Business, New York University. He also holds an M.A. in Economics from Duke University and a B.A. in English Literature and Language and a B.B.A. in Business Administration from Korea University. His most recent research studies the adoption and repeated use of the largest crowdsourcing platform by U.S. public school teachers. His focus is on understanding and quantifying the presence and nature of peer effects on short-term adoption and repeated use behavior.

Jennifer joined Seattle University – Albers School of Business and Economics this fall as an Assistant Professor of Marketing. Her dissertation explores consumer response to product bundles. Specifically, she examines the potential impact of three different marketing strategies: customization, product configuration, and global segmentation–on how consumers judge product bundles as well as each bundled product. Her other research projects include understanding motivational and contextual factors that influence various consumer judgments.

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Stern Marketing Events Stern Marketing is proud to have hosted the 2019 AMA Sheth Foundation Doctoral Consortium in June. This is the premiere consortium in the marketing discipline as it brings together the very best doctoral students and faculty from business schools in the United States, Canada, Europe, and the rest of the world. After 32 years, the conference made its triumphant return to New York City. The theme of this year’s Consortium was “The Interdisciplinary Field of Marketing� which focused on problem solving from a variety of research disciplines. The program consisted of a series of presentations, group sessions, networking events, collaboration, and thought exchange between illustrious marketing Faculty and doctoral Fellows.

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ON

Not four days later, many members of Stern Marketing were off to Rome as Professors TĂźlin Erdem and Russ Winer co-chaired the ISMS Marketing Science Conference, an annual event that brings together leading marketing scholars, practitioners, and policy makers with a shared interest in using rigorous scientific research on marketing problems. This year, the event set a new standard, with 1,312 registrants in attendance.

Stern Marketing was also honored to host and participate in the 2019 Four School Conference which brought together top marketing scholars from the Yale School of Management, Columbia Business School, and The Wharton School at UPenn.

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The Entertainment, Media & Technology Program The Entertainment, Media & Technology program gives undergraduate and MBA students a unique perspective and understanding of the entire entertainment and media business spectrum from its impact on the economy and the digital revolution to the global opportunities that technology creates across the industry. With a focus on both the business and content aspects of the industry, the program offers students a range of courses with practical and real-life applications. As of 2019, there are over 100 EMT courses with over 4,600 enrollments across all levels. The undergraduate BEMT minor remains the most popular minor at NYU.

2018-2019 Highlights 1. The NYU Los Angeles program opens and offers multiple EMT classes, including Movie Marketing, Entertainment & Media Industries, and Digital Business Strategy.

2. EMT Professor and Futurist, Amy Webb, moderates HBO's "Westworld" 2019 Comic-Con panel in anticipation of the show's 3rd season.

3. EMT Professor Greg Coleman hosts Entrepreneur Mark Cuban at NYU Stern for a fireside chat, Q&A, and mini "Stern Tank" competition.

4. Len DeLuca, professor of the new undergraduate Sports Management course, visits the MLB Network with students from his class.

5. Al Lieberman and 26 Stern MBA students attend the Cannes Film Festival as part the Craft & Commerce of Cinema course.

6. John Pepper, former CEO of Proctor & Gamble and former Chairman of Disney, visits campus to speak to the undergraduate Marketing Society.

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MEDIA MENTIONS

Alixandra Barasch shares how looking at a video right after an event may alter children’s memories.

4.25.19 Thomaï Serdari is interviewed for a feature story on Tiffany & Company’s move towards greater transparency around its diamond sourcing. 1.8.19 T ülin Erdem and Thomaï Serdari are interviewed for an article on how fashion companies can avoid future scandals with culturally insensitive items. 2.14.19 Amy Webb addresses the significance of the gap between the US and China on AI, from her book, “The Big Nine.” 4.9.19 Joint research by Tülin Erdem, Vishal Singh and PhD candidate Poppy Zhang on how consumers favor brands that help refugees is spotlighted. 6.20.19 In a contributed article, Michelle Greenwald shares how memes both help and hurt brands. 3.14.19 Paul Hardart and Batia Wiesenfeld discuss the future of Warner Bros. Theatre Ventures amid the company’s acquisition by AT&T. 3.29.19 Russell Winer shares his outlook on brick-andmortar and online retail. 5.19.19 Alixandra Barasch’s research on the benefits of sharing candid photos is included in a story on social media sharing. 2.20.19

Tülin Erdem explains why brands like Gillette are incorporating social-responsibility messaging into their marketing campaigns. 1.16.19

Paul Hardart discusses the business impact Georgia’s recently-enacted Heartbeat Bill will have on entertainment companies. 6.5.19

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Tom Meyvis is interviewed about whether the National Enquirer will lose advertisers after its alleged attempt to blackmail Jeff Bezos. 2.8.19

Priya Raghubir is quoted in a feature story on how media brands capitalize on the Super Bowl. 1.31.19

Al Lieberman is quoted in an article on the factors brands should consider when choosing a spokesperson. 2.20.19 Kim Corfman is quoted in a trend story about online masters degrees and Stern’s new MS in Quantitative Management, which blends business basics with data-driven analytical skills.

3.3.19 Priya Raghubir's joint research on payment methods and spending patterns is referenced.

6.20.19 Anindya Ghose discusses Amazon’s recent hiring spree in India and the impact the national elections will have on the business. 1.16.19 Adam Alter’s conclusions in his book, “Irresistible,” are referenced in an article about reading books you wished you had time for.

4.10.19 Amy Webb highlights three tech trends to watch in 2019 in her contributed article, which features thoughts on slipping smartphone sales, the proliferation of 5G, and data regulation on the horizon. 1.4.19 Thomaï Serdari shares her views on Tiffany’s new marketing and advertising strategies in an article on 2019’s risk takers. 3.10.19 Jeffrey Carr is interviewed for a trend story about brands creating experiences to attract millennial customers. 8.2.19

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STERN ALUM

Catherine Charles Business Program Manager, Microsoft NYU Stern MBA, 2019 What led you to pursue an MBA and why did you choose Stern?

My decision to pursue an MBA came at the suggestion of a dear friend, who knew I was interested in changing careers. After learning that business school could be a powerful launching pad for a career transition, I researched different programs and came to the conclusion that Stern was my dream school. A strong culture rooted in collaboration, a metropolitan location, a prestigious program, and a diverse pedagogy were my criteria.

Not only did Stern exceed my expectations in these areas, but also every alum and current student I spoke to praised the Stern community, which sealed the deal for me.

What had the greatest influence on your professional and academic development while at Stern?

My experience as a Launch Captain and 14 | 2019-2020 N E W S L E T T E R

participation in the Leadership Fellows (LF) Program had the greatest influence. Launch Captains help lead the MBA Orientation, and have a significant impact in shaping the experience of approximately 400 new students.

A positive and welcoming attitude goes a long way in fostering a sense of community and encouraging engagement—characteristics of an environment most businesses seek to create. The Leadership Fellows program helped me reach my professional goals through individualized feedback and guided, personal reflections.

What do you value most from your time at Stern?

I value the relationships that I built with my classmates who became friends, as well as the administrators and professors who became mentors. I am inspired by and am constantly learning from the individuals that I met throughout my experience.

How did Stern help you prepare for your current role as Business Program Manager at Microsoft?

Stern’s academic program and the leadership opportunities available through extracurricular activities helped me prepare for my current role! The lessons and resources from two classes in particular, Managerial Skills with Prof.

Chugh and Engage your Audience with Prof.

Lennard, have helped me in my role.

What advice would you give to current Stern MBA students?

Look for opportunities to stretch yourself, be open to career paths that not have been on your radar, and treasure your time at Stern!

EDITORIAL BOARDS ACADEMIC YEAR 2018-2019 City, Culture and Society

Journal of Consumer Psychology

Journal of Marketing Research

Adam Alter, Associate Editor

Tülin Erdem, Advisory Board

Cognition

Alixandra Barasch

Eric Greenleaf

Adam Alter

Eric Greenleaf

Russ Winer, Advisory Board

C. Samuel Craig

Durairaj Maheswaran

Information Systems Research

Tom Meyvis Priya Raghubir, Co-Editor

Yaacov Trope

Anindya Ghose, Senior Editor

International Journal of Advertising C. Samuel Craig

International Journal of Research in Marketing Adam Alter Tülin Erdem, Associate Editor Eitan Muller, Policy Board Member Vishal Singh

Journal of Personality and Social Psychology

Journal of Consumer Research

Journal of Retailing

Adam Alter

Vishal Singh

Alixandra Barasch

Joel Steckel

Andrea Bonezzi

Russ Winer, Executive Board

Durairaj Maheswaran Tom Meyvis

Management Science

Russ Winer, Associate Editor

Anindya Ghose, Associate Editor

Journal of Experimental Psychology: General

Marketing Letters

Yaacov Trope

Adam Alter Kim Corfman

Journal of the Academy of Marketing Science

Journal of Experimental Social Psychology

Tülin Erdem

Tülin Erdem

Adam Alter

Russ Winer

Tom Meyvis

Yaacov Trope

Joel Steckel, Policy Board

Journal of Advertising Research

Journal of International Marketing

Marketing Science

Henry Assael, Senior Advisory Board

C. Samuel Craig

C. Samuel Craig

Journal of Marketing Behavior

Russ Winer

Tülin Erdem, Associate Editor

Eric Greenleaf

Yuxin Chen, Senior Editor Tülin Erdem, Advisory Board Vishal Singh, Area Editor

Social Psychology and Personality Science Yaacov Trope

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Stern Marketing Department Tisch Hall 40 West Fourth Street New York, NY 10012 (212) 998-0500

@NYUSternMktg @NYUSternMarketing