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Department of Marketing Overview Dr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise PowerPoint PPT Presentation

Department of Marketing Overview Dr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise Teaching Academic Programs #3, Marketing Undergraduate Program, U.S. News and World Report #9, Marketing Graduate Program, U.S. News and World Report

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Department of MarketingOverviewDr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise


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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


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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)


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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 ofMarketing 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 FoundationResearch 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)


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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)


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Composition of Faculty

  • Full Professors: 8

  • Associate Professors: 3

  • Assistant Professors: 4

  • Lecturers: 13 full and part-time


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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


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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)


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CCI Practica

  • Fall 2005

  • Freescale: Home NetworkingConduct a market study toexplore, define and quantify potential business opportunity in home networking that will contain a high semiconductor content

  • Frito-Lay: Packaging InnovationCreate 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 PlanDevelop a recommendation for Yucatan Foods’ strategic growth plan in the Hispanic Food Category (specifically, guacamole, fresh salsa and other avocado derivative products)


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CCI Practica

Spring 2006

Accenture: Value Model for RFID Use in the HomeExplore the value of RFID technology in consumers' daily lives and develop a value model for new product development

Emergency Service Partners, LP: Establish Brand MessageEstablish brand message and formulate a plan for implementation and spread

Heinz Frozen Sauces: Market Opportunity Assessment for Frozen SaucesDetermine if and how frozen sauce offerings should be expanded

  • Lance Armstrong Foundation: LIVESTRONG™ International Merchandising ProjectExplore the feasibility of expanding the merchandise line for distribution into international markets

  • Yucatan Foods: Consumer New Market Entry StrategyDevelopment of a successful strategy recommendation to serve the 1st/2nd generation Hispanic customer


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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


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Accepted Offers for 2005 and 2006 Graduates


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FT Employment Functions2006 Graduates


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Marketing and Brand Management

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


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Salary Statistics

  • 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


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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


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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


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Key Items for Discussion

  • Center for Customer Insight

    • Center Direction

      • ReLaunch

      • Fresher Message

    • New Name?

    • Center Projects (Future Consortia and Collaboration)

    • Hot Topics


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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


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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?


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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?


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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.


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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


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  • Industry Needs & Perspectives

    • Hiring Needs

    • Recruiting Challenges

    • New hires roles/positions

    • Desired Skill sets

    • Advice for the Department


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  • Dept of Marketing Needs & Perspectives

    • Student interest shifting from Mktg

    • Marketing & promotion strategies

    • Curriculum changes


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APPENDIX


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Internships – Class of 2007

Current data

Median monthly salary $6,000

Average monthly salary $6,283


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Curriculum in MBA Program

  • Specializations

    • General Marketing

    • Brand Management

    • Customer Insight


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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


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BBA Courses

  • Required:

    • Principles of Marketing

    • Information and Analysis

    • Marketing Policies


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  • 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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