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Why the Chief Marketing Officer Matters

Idea posted: February 2016
  • Strategy
  • CSR & Governance
  • Leadership & Change
  • Marketing

The position of Chief Marketing Officer has come under fire recently, with some arguing that a CMO does not really add value to a company. A new research study counters this view; showing that companies with CMOs perform up to 15% better than companies who leave the CMO seat empty. 

Idea #581
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Queen Nefertiti of Egypt, 1350 BC (Courtesy: Neues Museum Berlin)

How a CEO's Attractiveness Can Boost Shareholder Value

Idea posted: December 2015
  • CSR & Governance
  • Leadership & Change
  • Marketing

Personal appearance, from height to attractive facial features, has been shown to positively influence the financial and career success of individuals. New research links CEO attractiveness to shareholder value, demonstrating that the first impression advantage of an attractive physical appearance can have group as well as individual benefits.

Idea #575
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Why Anthropomorphism Works In Marketing

Idea posted: November 2015
  • Marketing

Talking geckos and other anthropomorphic “spokes-characters,” are ubiquitous in advertisements. Various studies reveal some of the psychological reasons explaining why and how anthropomorphic marketing works — as well as some of the potential risks.

Idea #564
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What Influences Our Choices? What Others Prefer or What They Actually Consume

Idea posted: October 2015
  • Strategy
  • Marketing

A series of psychological experiments reveal that people will imitate others’ preferences, but not their actions — a revelation that can have marketing implications. For example, Facebook ‘likes’ are more influential than lists of best-selling products.

Idea #556
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Cultural Transformation Recognition Ceremony at the Jefferson Auditorium, US Department of Agriculture in Washington, DC, 2011 (Source: Wikimedia Commons)

Six Disruptive Demographic Trends and What They Mean for the Workplace

Idea posted: October 2015
  • CSR & Governance
  • Leadership & Change
  • Marketing

While demographics are never stationary, the demographic changes currently impacting the United States are transforming the country, with fundamental implications for how Americans live and work and how businesses in America can thrive. 

Idea #557
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Jimmy Wales in Duisburg, Germany. Champagne reception (Source: Wikimedia Commons)

Designing Experiential Services So Customers Remember the Best Parts

Idea posted: September 2015
  • Innovation & Entrepreneurship
  • Learning & Behaviour
  • Marketing

Customers tend to remember the end of an experience (for example, the last days of a vacation) and also tend to become used to a level of experience (for example, the view from their hotel room). Keeping these two psychological tendencies in mind, companies can structure a customer service encounter that leaves satisfied customers with memories of a great experience — and have them coming back for more.

Idea #551
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Wayuu bags, hand made by women from the Wayuu tribe in Colombia (Source: Wikimedia Commons)

Reusable Grocery Bags: How Green Customers Help the Environment — and Your Business

Idea posted: September 2015
  • CSR & Governance
  • Learning & Behaviour
  • Marketing
  • Operations

Shoppers bringing their own bags help reduce the adverse environmental impact of plastic bags. New research shows, however, that the environment is not the only winner. Environmentally conscious shoppers are inspired to buy more expensive organic products, and reward themselves with unplanned indulgent purchases — a boon to grocery stores.

Idea #542
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What Companies Learn from Customer Satisfaction Surveys

Idea posted: September 2015
  • Marketing

Are customer satisfaction surveys worth the trouble? Addressing and correcting for some of the core issues with customer satisfaction surveys — specifically, that they are based on perceived and not actual performance, and that there is a potential bias in the results based on who fills out the surveys — a new study confirms that they provide vital information for businesses, including the link between performance and customer behaviour.

Idea #543
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Buyers of Experiential Products and Consumer Reviews

Idea posted: September 2015
  • Marketing

Shoppers find consumer reviews to be less useful, and are less likely to seek out such reviews, for experiential purchases (events to be lived through such as vacation packages) than for material products (objects to keep such as electronics). 

Idea #546
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Dynamism of a Dog on a Leash, Giacomo Balla, 1912 (Courtesy: Buffalo Fine Arts Academy, New York)

Tracking Customers Who Leave Without Saying Goodbye

Idea posted: August 2015
  • Marketing

Customers don’t always inform a business that they are no longer customers. A new model, developed by researchers from Columbia Business School and London Business School and based on customer behaviour, allows companies to disentangle customers who are still active customers from customers who have ‘silently left’. The model also identifies customers who are in danger of leaving. 

Idea #538
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The McDonalds sign in Times Square (Source: Wikimedia Commons)

Mapping Brand Strategy: Balancing Centrality Vs Distinctiveness

Idea posted: August 2015
  • Strategy
  • Marketing

A new tool, based on scoring brands on their centrality (i.e. the brand of record) and distinctiveness (i.e. the brand that stands out from the crowd) can help marketers and strategists determine the best paths for growth and profitability. 

Idea #540
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King Canute Reproving His Courtiers, 1848, engraving (Source: Wikimedia Commons)

How Leadership Humility Is Defined in the East and in the West

Idea posted: July 2015
  • CSR & Governance
  • Leadership & Change
  • Marketing

Two studies in Singapore reveal differences in the definition of leadership humility between Eastern and Western cultures. Attributes such as self-awareness and recognizing the strengths and achievements of followers were common and important to both cultures, the Singapore studies showed, however, a number of unique dimensions that are viewed as significantly humble in a culture where one’s place on the hierarchy is important. These unique humility dimensions included leading by example, empathy and approachability.

Idea #530
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Adapt Your Choice of Product-Related Services to the Industry Life Cycle

Idea posted: July 2015
  • Strategy
  • Marketing

Different types of services — from ‘complementary smoothing’ services such as maintenance support to ‘substituting’ services such as leasing arrangements — can be more or less effective depending on the current phase (early ferment, middle transition, or late mature) in the life cycle of the product’s industry.

Idea #531
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Don't Jay Walk, 1937 PSA poster, USA (Source: Wikimedia Commons)

Neurobiological Clues to Advertising Effectiveness

Idea posted: May 2015
  • Learning & Behaviour
  • Marketing

Recent research identifies physiological reasons that public service announcements (PSAs) are effective. Specifically, the researchers show that increases in two neurochemicals — adrenocorticotropic hormone and oxytocin — result in greater attention and action from viewers. 

Idea #517
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Playing cards from the French Republic (1793-94), revolutionary images replace Kings and Queens

The Role of Identity When an Organization's Purpose Changes

Idea posted: May 2015
  • Strategy
  • Marketing
  • Operations

How do organizations respond to multiple business logics with conflicting sets of rules and norms? New research based on a study of four French business schools reveals that institutional and organizational identities will guide an organization’s response.

Idea #514
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Six Skills for the Social Media-Literate Leader

Idea posted: May 2015
  • Strategy
  • Innovation & Entrepreneurship
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

A scholar and an Executive Fellow from the Drucker School of Management present a six-dimensional framework of what they call ‘organizational social media literacy’. It outlines critical capabilities — from creating content and managing the flow of information to spreading social media competence throughout the organization and creating a social media infrastructure — that today’s leaders and their organizations must master to capitalize on the full potential of social media.

Idea #503
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When Does Downsizing Hurt Customer Satisfaction?

Idea posted: April 2015
  • Strategy
  • Marketing
  • Operations

Past research based on B2B industries show an intuitive link between downsizing the workforce and lower customer satisfaction. A new study focused on B2C industries reveals that the link is more complex, depending on factors such as organizational slack, labour productivity, and the emphasis on innovation. The study does confirm that downsizing reduces customer satisfaction, which then reduces financial results.

Idea #507
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Five gantry cranes, built at ZPMC, destined for Hamburg, on the vessel Zhen Hua 20, 2007 (Source: Wikimedia Commons)

A Lesson from China: Growth Is Not Eternal So Be Prepared

Idea posted: March 2015
  • Strategy
  • Finance
  • Leadership & Change
  • Marketing

Shanghai Zhenhua Heavy Industries (ZPMC) was a high-flying builder of large-scale container cranes whose decisions — such as lifetime guarantees on all parts and ambitious diversification — reflected a belief that growth would last forever. It didn’t.

Idea #495
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Alexander Graham Bell at the opening of the long-distance line from New York to Chicago, 1892 (Courtesy: Library of Congress)

Incentivizing Older Consumers to Adopt New Technologies

Idea posted: March 2015
  • Marketing

Companies traditionally ignore older consumers when marketing new technologies and innovations. While the non-monetary adoption costs to older consumers are high as previous research suggests, a new mathematical model — that looks at consumers over their entire lifecycle — reveals that monetary costs to older consumers actually decrease with age. 

Idea #502
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Work with Customers to Understand and Shape their Future Needs

Idea posted: March 2015
  • Innovation & Entrepreneurship
  • Marketing

Understanding future customer needs is a key success factor for competitive advantage. However, an equally important success factor, and one that is often overlooked, is the ability of companies to influence customers on their future needs. Companies that can both understand and shape future customer needs have the greatest chances of future success.

Idea #494
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Indian business and education leaders at 'Strings', 2012, an annual kite show by Worlds of Wonder in association with shOObh Welfare Society (Source: Wikimedia Commons)

From Charisma to Autonomy: How India’s Generations Rate Leadership Qualities

Idea posted: February 2015
  • Leadership & Change
  • Marketing

What do the different generations in India expect from their leaders? Charisma, being team-oriented, seeking participation and inclusion, and treating subordinates with humanity are particularly prized, according to a recent cross-generational survey. Of less importance are the old stand-bys of yesterday’s leaders: autonomy and a strict adherence to hierarchy.

Idea #490
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Harness Big Data Using Visualisation Software Tools

Idea posted: January 2015
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing
Institutions: NUS Business School

The phrase “big data” puts the emphasis on quantity — and it’s true that the data available in the world continues to grow exponentially every year. But for businesses wanting to make the most of big data, it’s not quantity that counts, but what you do with the data. Companies are losing millions of dollars because they are not fully exploiting the data they are already gathering. Given the complexity of big data, visualisation software tools are required to help companies avoid this mistake.

Idea #474
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CAVE installation, Internet and Virtual Reality, Maurice Benayoun (Source: Wikimedia Commons)

How Leaders Emerge in Online Communities

Idea posted: January 2015
  • Strategy
  • Leadership & Change
  • Marketing
  • Operations

Without a formal hierarchy, members of online communities are often able to work together effectively and efficiently collaborating to create vast founts of knowledge such as Wikipedia. This research looks at how leaders emerge in online communities, and what companies can learn from this. 

Idea #470
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How to Build Brand Equity Through Employee Engagement

Idea posted: December 2014
  • Finance
  • Learning & Behaviour
  • Marketing

From the friendly retail clerk helping a customer to the highly paid consultant who delivers groundbreaking solutions to the business unit, employees can directly impact a company’s brand equity. Therefore, any employee-related policy or resource decision — from training to lay-offs — is in effect a branding issue. 

Idea #466
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The commercial centre Xujiahui (Source: Wikimedia Commons)

Buyers Beware: Costs for China Rising

Idea posted: November 2014
  • Marketing
  • Operations
Institutions: NUS Business School

An extensive survey reveals new cost challenges for China-based suppliers, although the country maintains the strengths that it made it the go-to supply source in the first place.

Idea #461
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William Glackens, The Shoppers, 1907-1908, Chrysler Museum of Art, Norfolk, Virginia

How Price Expectations Drive Customer Purchasing Decisions

Idea posted: November 2014
  • Marketing

Customers have price expectations in their minds before entering a store, as well as expectations of prices in other stores. How customers update their expectations once they see the actual prices can help businesses better manage their promotions and sales for maximum effect. 

Idea #463
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The Tribuna of the Uffizi (detail), Johann Zoffany, circa 1772-1778, The Royal Collection, Windsor Castle

What to Get Right when Crowdsourcing

Idea posted: October 2014
  • Innovation & Entrepreneurship
  • Marketing
  • Operations

Social media channels have enabled organizations such as Dell, Starbucks, and NASA to successfully reach out to external contributors to collect suggestions, which have in turn stimulated innovation. This research, however, shows that most initiatives to source external contributions fail and that organizations seeking external ideas need to proceed with care and establish proactive processes to avoid potential pitfalls.

Idea #455
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Social Media Grabbing a Major Share of the Marketing Budget

Idea posted: October 2014
  • Marketing

Companies will be steadily increasing their spending on social media marketing in the next few years, even though most marketing executives cannot measure the financial impact of such spending. The shift in consumer buying patterns to online makes a shift to social media marketing a logical step, despite the current inability to demonstrate ROI. The pressing issue now is for companies to integrate social media activities into their general marketing campaigns. 

Idea #456
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Shanghai Xin Tian Di, photo by Motohiko Tokuriki, 2010 (Source: Wikimedia Commons)

Why Increasing Demand Is Not Always the Answer to New Competition

Idea posted: October 2014
  • Strategy
  • Marketing

Faced with a new competitor in the market, an incumbent company is usually expected to respond by investing more into its products to offer products that will please more customers. However, new research shows that a higher product investment in response to competition is not necessarily the best answer. The reason: new entrants may change the incumbent’s return on investment trade-off.

Idea #450
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Markdown Vs Everyday-Low-Prices: The Impact of Regret and Availability Misperceptions

Idea posted: October 2014
  • Strategy
  • Learning & Behaviour
  • Marketing

The behavioural motives of consumers — such as regret over buying too soon or too late and misperceptions about the product’s future availability — should be considered as companies develop their optimal pricing and inventory strategies.

Idea #453
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