Department of Marketing Overview

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  • 12% ahead of last year (for 3 months out with offers) News here is the differential between US/PR salaries and international salaries (by visa status, not location) Important to note that signing bonuses are no longer standard and the high average is driven largely by I-Banking and consulting.
  • Department of Marketing Overview

    1. 1. Department of Marketing Overview Dr. Wayne D. Hoyer Chairman and the James L. Bayless/William S. Farish Fund Chair for Free Enterprise
    2. 2. Teaching <ul><li>Academic Programs </li></ul><ul><ul><li>#3, Marketing Undergraduate Program, U.S. News and World Report </li></ul></ul><ul><ul><li>#9, Marketing Graduate Program, U.S. News and World Report </li></ul></ul><ul><ul><li>#18 MBA Program, U.S. News and World Report </li></ul></ul>
    3. 3. Teaching Awards <ul><li>Bob Peterson- AMA Distinguished Marketing Educator Award (2006) </li></ul><ul><li>Raji Srinivasan- Trammell/CBA Foundation Teaching Award for Assistant Professors (2006) </li></ul><ul><li>Frenkel ter Hofstede- CBA Foundation Advisory Council Award for Teaching Innovation (2006) </li></ul><ul><li>Kate Mackie- MBA Applause Teaching Award (2005) </li></ul><ul><li>Kate Mackie- MBA Honor Roll (2004, 2005) </li></ul>
    4. 4. Research Awards <ul><li>Susan Broniarczyk , Wayne Hoyer , and Leigh McAlister- O’Dell Award for top paper in Journal of Marketing Research over 5 year period (2003) </li></ul><ul><li>Frenkel ter Hofstede- O’Dell Award for top paper in Journal of Marketing Research over 5 year period (2003) </li></ul><ul><li>Frenkel ter Hofstede- CBA Foundation Research Excellence Award for Assistant Professors (2005) </li></ul><ul><li>Frenkel ter Hofstede- MSI Young Scholar (2003) </li></ul><ul><li>Raji Srinivasan- CBA Foundation Research Excellence Award for Assistant Professors (2006) </li></ul><ul><li>Vijay Mahajan- recognized by ISIHighlyCited.com as one of the most highly cited Business/Econ researchers in the world </li></ul><ul><li>Vijay Mahajan- Best paper award IJRM (2004), Best paper award, JAMS (2004) </li></ul>
    5. 5. Research Awards (cont.) <ul><li>Raj Raghunathan - MSI Young Scholar (2005) </li></ul><ul><li>Wayne Hoyer- Award for Research Excellence- MSB (2004) </li></ul><ul><li>Wayne Hoyer- Award for Outstanding Research Contributions- MSB (2005) </li></ul><ul><li>Mark Alpert and Linda Golden- American Risk and Insurance Prize for most valuable contribution (2003) </li></ul><ul><li>Linda Golden- Robert I. Mehr Award for journal article with 10 year lasting contribution to risk management (2004) </li></ul>
    6. 6. Composition of Faculty <ul><li>Full Professors: 8 </li></ul><ul><li>Associate Professors: 3 </li></ul><ul><li>Assistant Professors: 4 </li></ul><ul><li>Lecturers: 13 full and part-time </li></ul>
    7. 7. Newest Faculty <ul><li>Garrett Sonnier (UCLA) </li></ul><ul><ul><li>Teaching Areas- Marketing Core , Marketing Research, Pricing </li></ul></ul><ul><ul><li>Research Areas- Choice models, Bayesian analysis, empirical modeling in product and brand management, econometrics </li></ul></ul>
    8. 8. Interaction with Industry <ul><li>Involvement with the Center for Customer Insight (Accenture, Frito Lay, 3M, H-E-B, Ford, Quarry Communications, Philip Morris) </li></ul><ul><li>Customer Strategy Class (Frito Lay, Dell, Freescale, Ford, P&G, 3M) </li></ul><ul><li>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) </li></ul>
    9. 9. CCI Practica <ul><ul><ul><li>Fall 2005 </li></ul></ul></ul><ul><ul><ul><li>Freescale: Home Networking Conduct a market study to explore, define and quantify potential business opportunity in home networking that will contain a high semiconductor content </li></ul></ul></ul><ul><ul><ul><li>Frito-Lay: Packaging Innovation   Create a portfolio of products/packaging that provides emotional and functional benefits to the multi-tasking consumer during the work/study need state </li></ul></ul></ul><ul><ul><ul><li>Yucatan Foods: Consumer Marketing Strategic Growth Plan   Develop a recommendation for Yucatan Foods’ strategic growth plan in the Hispanic Food Category (specifically, guacamole, fresh salsa and other avocado derivative products) </li></ul></ul></ul>
    10. 10. CCI Practica <ul><ul><ul><li>Spring 2006 </li></ul></ul></ul><ul><ul><ul><li>Accenture: Value Model for RFID Use in the Home Explore the value of RFID technology in consumers' daily lives and develop a value model for new product development </li></ul></ul></ul><ul><ul><ul><li>Emergency Service Partners, LP: Establish Brand Message   Establish brand message and formulate a plan for implementation and spread </li></ul></ul></ul><ul><ul><ul><li>Heinz Frozen Sauces: Market Opportunity Assessment for Frozen Sauces   Determine if and how frozen sauce offerings should be expanded </li></ul></ul></ul><ul><ul><ul><li>Lance Armstrong Foundation: LIVE STRONG ™ International Merchandising Project   Explore the feasibility of expanding the merchandise line for distribution into international markets </li></ul></ul></ul><ul><ul><ul><li>Yucatan Foods: Consumer New Market Entry Strategy   Development of a successful strategy recommendation to serve the 1 st /2 nd generation Hispanic customer </li></ul></ul></ul>
    11. 11. Community Involvement <ul><li>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 </li></ul><ul><li>Frequent class projects for local non-profit organizations </li></ul><ul><li>Course on Community Development and Social Enterprise </li></ul>
    12. 12. Accepted Offers for 2005 and 2006 Graduates
    13. 13. FT Employment Functions 2006 Graduates 2% Information Mgmt 3% Other 6% General Mgmt/Ops 11% Asset Management/VC 14% Investment Banking/S&T 21% Marketing 22% Corp Finance/Treasury/Acct. 22% Consulting % Employment Function
    14. 14. 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 Marketing and Brand Management
    15. 15. <ul><li>2006 FT average (current) </li></ul><ul><ul><li>Annual salary $91,811 </li></ul></ul><ul><ul><li>Signing Bonus (88%) $19,621 </li></ul></ul><ul><li>2005 FT average (final) </li></ul><ul><ul><li>Annual salary $84,025 </li></ul></ul><ul><ul><li>Signing Bonus (54%) $14,449 </li></ul></ul>Salary Statistics
    16. 16. MKT Strengths <ul><li>Very strong and well trained researchers- high research productivity </li></ul><ul><li>A culture that develops junior faculty </li></ul><ul><li>Good interaction with industry (faculty/industry consortium, practicums, and projects) </li></ul><ul><li>Innovative courses (Customer Strategy, Customer Insight, etc.) </li></ul><ul><li>Center for Customer Insight </li></ul>
    17. 17. Key Initiatives for 2006 <ul><li>Recruiting new faculty (7 in next 3 years) </li></ul><ul><li>Attract more MBA’s into Marketing </li></ul><ul><li>Improve MBA Marketing core class </li></ul><ul><li>Increase the rigor and analytical content of all courses </li></ul><ul><li>Continue to reduce the class size and increase the rigor of Principles of Marketing (U-grad) </li></ul><ul><li>Increase Industry collaboration </li></ul><ul><ul><li>Faculty/Industry Consortium </li></ul></ul>
    18. 18. Key Items for Discussion <ul><li>Center for Customer Insight </li></ul><ul><ul><li>Center Direction </li></ul></ul><ul><ul><ul><li>ReLaunch </li></ul></ul></ul><ul><ul><ul><li>Fresher Message </li></ul></ul></ul><ul><ul><li>New Name? </li></ul></ul><ul><ul><li>Center Projects (Future Consortia and Collaboration) </li></ul></ul><ul><ul><li>Hot Topics </li></ul></ul>
    19. 19. Faculty/Industry Consortium Update <ul><li>Original Idea: Develop a consortium of industry collaborators (diverse group) and faculty to: </li></ul><ul><ul><li>Participate in ‘think tank’ sessions </li></ul></ul><ul><ul><li>Develop a research agenda </li></ul></ul><ul><li>TOPIC: Must be ‘cutting edge’ and of great interest to both industry and academics: </li></ul><ul><ul><li>EX: Future impact of RFID/EPC technology on marketing and business practice </li></ul></ul>
    20. 20. RFID Consortium (derived from 2005 AB Meeting) <ul><li>October 21, 2005 </li></ul><ul><li>Philip Morris, FedExKinko’s, Dell, HEB, Accenture </li></ul><ul><li>Identification of Broad Level Key Research/Practicum topics such as: </li></ul><ul><ul><li>What is ROI at different levels of investment? </li></ul></ul><ul><ul><li>-moving return forward- </li></ul></ul><ul><ul><li>Trade off Privacy versus consumer benefits </li></ul></ul><ul><li>-how much consumers are willing to give up </li></ul><ul><li>-how to best mollify consumers to accept </li></ul><ul><li>-what are consumers concerns to resistance? </li></ul>
    21. 21. More Topics <ul><li>Historic cases of adoption </li></ul><ul><li> -(case historics) similar products/technologies </li></ul><ul><li>Consumers vision of RFID benefits –Evaluate different benefits –trade-offs </li></ul><ul><li>-enough benefit to keep or change loyalty </li></ul><ul><li>-changes purchasing patterns? </li></ul><ul><li>-varies by segment? </li></ul><ul><li>Implications for internet shopping? </li></ul><ul><li>Build a model of consumer adoption of RFID </li></ul><ul><li>– is there any consumer pull? </li></ul>
    22. 22. Outcomes <ul><li>Companies asked: </li></ul><ul><li>to assist in defining the broad-level topics into actionable semester-long projects </li></ul><ul><li>to consider sponsoring one of the projects </li></ul><ul><li>to consider serving as point of contact for a project </li></ul><ul><li>_____________________ </li></ul><ul><li>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. </li></ul>
    23. 23. Results <ul><li>Only One RFID practicum conducted (in collaboration with Accenture) </li></ul><ul><li>______________________ </li></ul><ul><li>Need input on how to improve process of soliciting more feedback and increasing company involvement </li></ul>
    24. 24. <ul><li>Industry Needs & Perspectives </li></ul><ul><ul><ul><li>Hiring Needs </li></ul></ul></ul><ul><ul><ul><li>Recruiting Challenges </li></ul></ul></ul><ul><ul><ul><li>New hires roles/positions </li></ul></ul></ul><ul><ul><ul><li>Desired Skill sets </li></ul></ul></ul><ul><ul><ul><li>Advice for the Department </li></ul></ul></ul>
    25. 25. <ul><li>Dept of Marketing Needs & Perspectives </li></ul><ul><ul><ul><li>Student interest shifting from Mktg </li></ul></ul></ul><ul><ul><ul><li>Marketing & promotion strategies </li></ul></ul></ul><ul><ul><ul><li>Curriculum changes </li></ul></ul></ul>
    26. 26. APPENDIX
    27. 27. Current data Median monthly salary $6,000 Average monthly salary $6,283 Internships – Class of 2007
    28. 28. Curriculum in MBA Program <ul><li>Specializations </li></ul><ul><ul><li>General Marketing </li></ul></ul><ul><ul><li>Brand Management </li></ul></ul><ul><ul><li>Customer Insight </li></ul></ul>
    29. 29. MBA Electives <ul><li>Brand Management </li></ul><ul><li>Marketing Communications </li></ul><ul><li>Consumer Behavior </li></ul><ul><li>Strategic Marketing </li></ul><ul><li>Marketing Research </li></ul><ul><li>Corporate Governance </li></ul><ul><li>Customer Insights </li></ul><ul><li>Customer Relationship Management </li></ul><ul><li>Innovative Business Marketing: Creation of Value </li></ul><ul><li>Marketing Analysis and Decision Making in the Information Age </li></ul><ul><li>New Product Design and Marketing </li></ul><ul><li>Customer Strategy </li></ul><ul><li>Pricing/Distribution Strategies </li></ul><ul><li>Marketing High Tech Products </li></ul><ul><li>Service Management </li></ul><ul><li>Marketing and Customer Insights Practicum </li></ul>
    30. 30. BBA Courses <ul><li>Required: </li></ul><ul><ul><li>Principles of Marketing </li></ul></ul><ul><ul><li>Information and Analysis </li></ul></ul><ul><ul><li>Marketing Policies </li></ul></ul>
    31. 31. <ul><li>Electives </li></ul><ul><ul><li>Professional Selling and Sales Management </li></ul></ul><ul><ul><li>Retail Merchandising </li></ul></ul><ul><ul><li>Brand Management </li></ul></ul><ul><ul><li>Customer Insights </li></ul></ul><ul><ul><li>Consumer Behavior </li></ul></ul><ul><ul><li>Marketing Communications </li></ul></ul><ul><ul><li>High Tech Marketing </li></ul></ul><ul><ul><li>Data Mining </li></ul></ul><ul><ul><li>Customer Relationship Management </li></ul></ul><ul><ul><li>Direct Marketing </li></ul></ul><ul><ul><li>Global Marketing </li></ul></ul><ul><ul><li>Community Development and Social Enterprise </li></ul></ul>

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