Msmws - Introduction And Wrap-up Sessions

MARKETING STRATEGY MEETS WALL STREET Emory University January 2009

Co-organizers Dominique Hanssens, UCLA Raj Srivastava, Emory & Singapore Mgmt Univ. 1

Brief History • MSI and Emory Marketing Institute joint initiative • Discussion Meeting, NYU, July 2006 – Marketing academics – Accounting & Finance academics – Wall Street representatives – Corporate representatives

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Major Areas in Need of Research • The valuation of marketing assets • • • •

Brand equity Customer equity Channel equity Customer satisfaction

• The valuation of marketing actions • • • •

Innovation Advertising and communications Pricing and promotion CSR 3

Major Areas in Need of Research • Investor Relations • Communicating marketing strategy with analysts • Is Wall Street myopic ? • The investor as a customer

• Effects on Managerial Decision making • Stock price effects on marketing decisions • Earnings Management • Idiosyncratic Risk

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MSI/EMI Research Funding Initiative • Approx. 35 funding proposals received • Research Outputs: • MSI Reports, Issue #4, 2008 • Emory Conference, January 2009 • Journal of Marketing Special Issue, Fall 2009 » Co-editors Hanssens, Rust, Srivastava

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This Conference • Presentations organized in sessions on • • • • • • •

Marketing strategy Branding Innovation Customer equity Investor Relations Advertising Corporate Social Responsibility

• Concluding discussion session: • Lessons learned • What is needed in order to create impact ? 6

Friday January 23rd Start

End

Event

7:45

8:15

Breakfast & Registration

8:15

9:00

Welcome and Conference Overview Track A

Track B

Strategy 1

Investor Relations 1

9:00

10:00

10:00

10:30

10:30

12:00

Investor Relations 2

12:00

1:30

Lunch

1:30

3:00

Customer Equity

3:00

3:30

3:30

5:00

5:30

6:15

Reception

6:15

7:30

Dinner & Entertainment

Coffee Break Advertising Brand 1 Coffee Break Brand 2

Corporate Social Responsibility

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Saturday January 24th Start

End

Event

8:00

9:00

Breakfast Track A

Track B

Innovation

Strategy 2

9:00

10:30

10:30

11:00

11:00

12:00

Brand

12:00

12:30

Wrap-Up and Next Steps Discussion

12:30

1:30

Lunch

Coffee Break Strategy 3

A Note of Thanks & Logistics

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Conference Wrap-Up Session

Cash Flow

Growth

Risk Systematic Liquidity Risk

Market Value

Idiosyncratic

Marketing Action

Capabilities

Assets

Information

Innovations

Brands Customers Channels

Strategy

Information Intermediaries (Analysts)

CSR Operations Business models Market Orientation

Dynamic capabilities Impact of metrics

Managing Expectations

Publics Retail Investors Institutional Investors Partners/B2B Government

Goals • In five years, would like J of Finance to quite J of Marketing. • Conference for Analysts • Need for interdisciplinary conference • Need innovation in measurement (intermediate measures) • Need unbalanced scorecard (alternative to balanced scorecard) • When is there excessive valuation • Invite finance academics to MSI events • Provide marketing databases (JD Power, Innovations) to finance • Connect experts in behavioral finance with marketing • Take advantage of the financial meltdown • Teaching metrics like number of seminars in MBA, PhD. • Tracking the emergence of marketing-finance in practice • Co-author with other disciplines • Is C-level compensations tied to marketing metrics. • 2 years for next MSMWS conference • Need more reviewers for J of Marketing that understand the marketingfinance mix • Need to repeat ISBM seminar over the web (several faculty). •