Marketing in the News
Current Faculty Media Headlines
Professor Alixandra Barasch is interviewed about her joint research on taking photographs and memory
September 10, 2017
Excerpt from Big Think -- "'These findings have important implications for consumers, educators, and businesses,' Prof. Barasch said. Educators should think about how they present information and what they want students to walk away with. Businesses can concentrate on the impression they want customers to leave with. And, 'Individuals may think twice now before pulling out the camera.' Now that we understand how picture taking affects us, we can better decide whether or not to snap off a photo, by how it’ll impact our experience and memory of it."
Professor Thomaï Serdari discusses the challenges Alessandro Bogliolo faces as the new CEO of Tiffany & Co.
September 7, 2017
Excerpt from Global Finance -- "With new designs representing less than 10% of jewelry sales last year, accelerating the pace of product innovation will be key. 'Conventional strategies will not work,' says Serdari. 'Bogliolo must be as daring as when he was Diesel’s CEO and as proud as the Bulgari family has been. Not a small challenge, even for someone as capable as Bogliolo.'"
In an op-ed, Professor Amy Webb compares Skynet, the artificial intelligence network from the Terminator films, to President Trump
August 29, 2017
Excerpt from the Los Angeles Times -- "Although Skynet was programmed to make decisions, it couldn’t learn how to interpret new kinds of data, especially if the information broke any of its established rules. So it is with our president, who operates with a retrograde understanding of modern warfare."
August 25, 2017
Excerpt from the Financial Times -- "'There is one thing in common among the largest advertisers in the world: they’re all losing [market]share,' says Scott Galloway, professor of marketing at New York University’s Stern School of Business."
Excerpt from NBC News -- "'They need to massively strengthen their presence and expertise in internet commerce and mobile commerce in order to even have a chance of meaningfully competing with online behemoths like Amazon. Otherwise, the chance of their survival is low,' Anindya Ghose, a professor at New York University’s Stern School of Business, told NBC News."
Excerpt from Law360 -- "On Monday, Erdem — who has testified in other high-profile cases like Apple v. Samsung and MobileMedia Ideas LLC v. Apple Inc. — said she spent 250 hours examining DirecTV’s 116 ads. Ultimately, she found that the disclosures in those ads were not clear or conspicuous, by performing a series of tests using a single-page print ad. First, she made small changes to the print ad so that the disclosures were more prominent. She then asked test participants a series of questions to determine if they understood the terms of DirecTV’s contract and its monthly subscription price based on the ad."
August 18, 2017
Excerpt from MetroMBA -- "Entitled 'Decomposing the Cross-Sex Misprediction Bias of Dating Behaviors: Do Men Overestimate or Women Underreport Their Sexual Intentions,' Stern Professor and Marketing Department Chair Priya Raghubir says her goal was to 'set the record straight on prediction bias across sexes.'"
August 18, 2017
Excerpt from the Stamford Advocate -- "'The key thing to do in expanding into any country is try to find a strong partner,' Craig said. 'For WWE, the model allows them to expand. For the local partner, it gives them additional content that basically represents an annuity that keeps providing revenues month after month and year after year.'"
Professor Alixandra Barasch’s research on the connection between taking photos and visual memory is featured in a story about experiencing the solar eclipse
August 18, 2017
Excerpt from The New York Times -- "Dr. Barasch said she too initially suspected that casual photography was removing people from the moment. 'But as we collected more and more data over the course of five or six years, we kept finding that photo taking was actually immersing people more in experiences,' she said."
Professor Scott Galloway shares insights on why business leaders have distanced themselves from President Trump
August 17, 2017
Excerpt from the Financial Times -- "'Companies tend to think of their consumers and shareholders first. They say, "I don’t want a Twitter riot" and then "I don’t want analysts to worry that it’s going to impact my short-term sales and take my stock down",' said Mr Galloway."
Professor Alixandra Barasch's research on the impact of taking photos on visual memory is spotlighted
August 16, 2017
Excerpt from the Daily Mail -- "'These findings suggest that having a camera changes how people approach an experience in a fundamental way,' the authors said, according to Science Daily. 'Even when people don't take a photo of a particular object, like a sculpture, but have a camera with them and the intention to take photos, they remember that sculpture better than people who did not have a camera with them.'"
Professor Scott Galloway discusses the departure of several CEOs from President Trump's advisory councils
August 15, 2017
Excerpt from The New York Times -- "'The risk calculus has changed dramatically,' said Scott Galloway, a professor at New York University Business School, who sits on several corporate boards. 'Yes, you may risk a tweet from Trump. But his tweets are increasingly flaccid.'"
Excerpt from WIRED -- "'People feel very strongly that when they take photos it’s taking them out of the moment,' says Alixandra Barasch, a researcher at NYU who studies the effects of taking photos. 'Yet after years of running studies, we kept on finding over and over again that there were all of these positive aspects of photo-taking, as well.'"
Professor Alixandra Barasch's research on photo taking and visual memory and Professor Tom Meyvis' research on the impact of physical memorabilia are featured
August 11, 2017
Excerpt from MetroMBA -- "In a study entitled, 'Forgetting to Remember Our Experiences: People Overestimate How Much They Will Retrospect About Personal Events,” Mevvis and Tully investigated “how people’s expectations of how often they would recall an experience compared to how often they actually did recall it.' ... Barasch and her co-authors Kristin Diehl, Jackie Silverman, and Gal Zauberman, conducted an experiment framed around participants use of cameras. Their work, similar to Meyvis and Tully, found that those who did not take photos had 'more enhanced visual memory' than those that did take photos."
Excerpt from the Financial Times -- "We are effectively entering an era where I call 'the death of the advertising industrial complex.' I think advertising has become a tax that the poor and the digitally illiterate pay. If you're wealthy you get to opt out of advertising and brands are still depending on it."
August 10, 2017
Excerpt from Luxury Daily -- "'[From a school perspective,] partners keep us relevant,’ said Kim Corfman, professor of marketing and academic director of the Fashion & Luxury one-year MBA at NYU Stern School of Business, New York. 'They ensure that we are educating students to solve problems that matter and that the solutions they create are of value. At a more practical level, partners provide us with live cases and projects to which students can apply what they have learned.' ... 'Luxury brands need people who understand both the retail environment and the challenges a business faces in the industry,' said Thomaï Serdari, founder of PIQLuxury, co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York."
Professor Scott Galloway discusses Google engineer James Damore's controversial memo and subsequent firing
August 8, 2017
Excerpt from The New York Times -- "Scott Galloway, a professor of marketing at New York University’s Stern School of Business, said Mr. Damore’s comments carried additional weight to people on either side of the political spectrum because he was an engineer at Google, one of the world’s biggest technology companies. Alongside other giants such as Facebook, Amazon and Apple, these companies 'are seen as pillars of our society,' Mr. Galloway said. 'Controversy and statements that emanate from these employees take on a different heft.'"
Professor Adam Alter's research on the impact of mobile device usage on happiness is featured, from his book, "Irresistible"
August 4, 2017
Excerpt from the Australian Financial Review -- "The few hours that remain are our discretionary time, when we might read a book, enjoy a hobby, call an old friend for a talk, play Monopoly with the family or get to the gym. According to Alter's research, our white space is increasingly consumed by computer screens and that's not making us happy."
Excerpt from HR Digest -- "According to the Dunning-Kruger effect, smart people realize they’re not very good and try to do better. On the other hand, stupid people think they’re good at whatever it is, and don’t try to get better and they don’t get any better either."
Excerpt from WalletHub -- "A card can also be cool because of the issuer/branding. There is a new Marvel credit card. There is a Disney Visa card. There is a Mercedes Benz credit card through American Express.; the list is pretty endless. The key thing about cool is that it depends on the individual's social circle. Airline cards used to be cool, but now they have proliferated."
Professor Anindya Ghose identifies forces that are affecting the mobile economy, from his book, "Tap"
July 31, 2017
Excerpt from The Globe and Mail -- "'I'm asking consumers to not hold back on data but share it. When consumers do that, however, companies must act responsibly,' Mr. Ghose says."
Professor Michelle Greenwald discusses Google Zoo's study on the incorporation of virtual reality (VR) in marketing communications
July 31, 2017
Excerpt from Forbes -- "The overall take-away from the Google Zoo study is that Virtual Reality has the potential to relay much more powerful advertising and journalistic messages than traditional storytelling’s text, still images, and traditional video."
Excerpt from Travel + Leisure -- "'Consumers do not just focus on individual experiences. Instead, they categorize and manage experiences... For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,' write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University)."
Excerpt from CNBC -- "Amazon, right now, I would argue, is the most dominant company in the world and maybe the most dominant company, at this point, that we've ever seen. If you look at the Venn overlap of who they're competing against -- Apple, Facebook, Microsoft -- they're winning wherever they're competing against any of the big tech titans. So this company feels like it has more momentum than any other company I register."
Professor Tom Meyvis' joint research on the impact of buying mementos on remembering an experience is referenced
July 27, 2017
Excerpt from The Island -- "Stephanie Tully, assistant professor of marketing at University of South Carolina Marshall, and Tom Meyvis, marketing professor at the New York University Stern School of Business, conducted two experiments. They found that participants who thought about a future experience predicted they would think about and talk about their experience more often than other participants reported actually having done for a past experience."
Excerpt from Bloomberg -- "More households have [Amazon] Prime than go to church, voted in the election or have a landline phone. And if trends continue, in about three years more people are going to have a pipe of stuff into their home vis-a-vis Amazon Prime than cable television. So Amazon now has a commercial relationship with the wealthiest households in the world and it's growing faster than any other relationship."
Dating Debunked: Study Reveals that Men and Women Perceive Sexual Intentions Differently, with Men Often Overestimating Women’s Desires and Women Underreporting Theirs
July 27, 2017
In a new study, Professor Priya Raghubir, chair of the Marketing Department at NYU Stern School of Business, and former NYU Visiting Postdoctoral Scholar Isabelle Engeler find a gap in how women and men interpret dating situations and intentions, which could lead to problematic misunderstandings between dating partners.
July 24, 2017
People with higher cognitive abilities are more likely to learn and apply social stereotypes, finds a new study. The results, stemming from a series of experiments, show that those with higher cognitive abilities also more easily unlearn stereotypes when presented with new information. The study ... also included Adam Alter, an associate professor in NYU’s Stern School of Business.
Excerpt from the Irish Times -- "Ordinary investors didn’t get to buy at $17 during the IPO. Demand meant they opened for trading at $24 and peaked at $29 the following day, a far cry from the $15 level to which they fell last week. It could get worse. Prior to the IPO, this columnist warned Snap’s stratospheric valuation meant it looked a bad bet. Even now, the stock trades on 45 times sales, prompting Prof Scott Galloway from the NYU Stern School of Business to dismiss it as the 'most overvalued company in the world.'"
July 14, 2017
Excerpt from MetroMBA -- "Barasch explains how her group’s research could impact business, consumers and educators down the road. 'If you want to retain more information from a guided tour, for example, you may be better served to put the camera away. Similarly, teachers may ask students to take photos on a non-narrated museum visit to aid their visual memories.'"
Excerpt from Fashionista -- "I think there has now come a time where consumers are looking to move into the opposite direction; in other words, they're not happy any longer with a global identity, and they’re looking for more interesting, nuanced types of stories that can be appealing. I think from a macro perspective, we see the entire market shifting from globalization to a more intense localization."
Excerpt from Forbes -- "Many aspects of the building are great for motivating teams to want to do their best work. Employees say they feel privileged to work there. I would too! Desigual means 'unequal' in Spanish: a good descriptor for the asymmetric design that’s the brand’s hallmark. The brand, through its design sensibility, makes customers feel unique and a little quirky in a good, colorful way that enables them/us (I’m one) to express our own identities."
Excerpt from the Financial Times -- "Scott Galloway, professor of marketing at the NYU Stern School of Business, said Snap is the 'most overvalued company'. 'It is being crushed by a competitor with more engineers, more capital and more management,' he said. 'People were hoping that Snap would be the Facebook of video, but the Facebook of video is Facebook, specifically Instagram Stories.'"
Excerpt from the Washington Post -- "Though solitude brings many benefits with it, it’s quickly being crowded out of our lives. Our minds are constantly assaulted by a sea of inputs—texts, emails, ads, and notifications. According to psychologist Adam Alter, author of the book Irresistible, people spend nearly all of their free time—those precious three to four hours of each day—in the company of a screen. Which means they spend virtually no time alone."
Professor Thomaï Serdari comments on the growing trend of art collections in luxury apartment developments
July 12, 2017
Excerpt from Artsy -- "Thomaï Serdari, a strategist in luxury marketing and branding and an adjunct professor at New York University’s Stern School of Business, said the trend toward art collections in luxury developments was driven by millennials’ insatiable appetite for experiences.'Most young people who are interested in buying these new developments are also very much interested in experiences, and the art world is one of those experiences,' she said, including people who are not yet collectors, 'but people who want to be in the know.'"
Excerpt from CNBC -- "Amazon's decided retail's a difficult business. A better business is software, where you have recurring revenue. And now, more households have a recurring revenue relationship with Amazon in the form of Prime than voted in the '16 election or have a landline phone. ... You shop at Best Buy, which is an incredibly well-managed company, but you don't get season 2 of Transparent when you shop at Best Buy. So, they're creating all sorts of ecosystem and hooks to lock people into this recurring revenue relationship. And they're also fighting unfair. They have cheaper capital. They can just throw more resources at these types of shopping days than any other organization."
Excerpt from The New York Times -- "Adam Alter, a professor of marketing and psychology at New York University who studies digital addiction, highlighted the fact that, unlike TV shows or concerts, today’s video games don’t end. Most forms of entertainment have some form of a stopping cue — signals that remind you that a certain act or episode is ending, like a commercial or a timer. 'Many video games don’t have them,' Mr. Alter said. 'They’re built to be endless or have long-range goals that we don’t like to abandon.'"
Excerpt from Digital Trends -- "Sure, taking pictures captures the visual details of our memories, but a new study suggests pressing that shutter button improves visual memory. The problem? The improved visual recall is at the expense of auditory memories. The data comes from a new study led by New York University Stern School of Business professor Alixandra Barasch and recently published in Physiological Science."
Excerpt from Racked-- "Back in April, NYU professor and business intelligence firm L2 founder Scott Galloway told Racked that 'no one looks at Amazon and thinks that it’s a great partner. It’s considered the evil empire.'"
Excerpt from Racked -- “The bottom line, though, is that guys will always need to buy deodorant. Meyvis questions whether consumers even seriously bought into Axe’s former branding. 'I think that people were buying Axe in the past more because it was a cool brand for young men rather than they really thought "I will become the chick magnet from the advertisement,"' he says. 'If that were the case, of course this would be a bad decision to do this campaign. But the world changes, and what is cool for young men changes, too. To that extent, it may not be as radical a departure from the past positioning: "We’re the cool brand for young men, whatever is happening in the world today."'"
Professor Thomaï Serdari offers insights on Chanel's decision to feature South Korea's G-Dragon in a new short film
June 28, 2017
Excerpt from Luxury Daily -- "'G-Dragon is the most influential cultural icon in Asia today,’ said Thomaï Serdari, Ph.D., founder of PIQLuxury, co-editor of Luxury :History Culture Consumption and adjunct professor of luxury marketing at New York University, New York. ‘His music and fashion style have contributed to an unprecedented increase in followers who also happen to cross two generations: millennials and Generation Z,’ she said. ‘These are young adults who have developed a taste for luxury early in life, have disposable income, primarily due to their families, and have also traveled abroad.’”
June 27, 2017
Excerpt from Credit.com -- "Research from NYU professor Priya Raghubir and University of Maryland professor Joydeep Srivastava shows that using physical cash makes people less likely to overspend because they “feel the outflow of money” more directly. Spending too much on a credit card can also lead to high interest charges if you don’t pay the balance in time."
In a new study, Professor Alixandra Barasch of the NYU Stern School of Business and co-authors, Kristin Diehl of the University of Southern California Marshall School of Business, Jackie Silverman of The Wharton School at the University of Pennsylvania and Gal Zauberman at Yale School of Management, find that choosing to take photos may help us remember the visual details of that experience, but at the expense of our nonvisual memory.
Excerpt from Business Insider -- "'A culture of overwork is damaging because it turns brief binges of hard work into a long-term strategy, and, worse still, an expectation. When managers start measuring the worth of their employees according to how quickly they return emails at 3 a.m., that particular work culture is broken,' Adam Alter, a professor at NYU’s Stern School of Business, told Business Insider in an email."
In an in-depth Q&A, Professor Amy Webb shares her outlook on the future of artificial intelligence (AI)
June 23, 2017
Excerpt from PFSK -- "Think about AI as the next layer of technology that will be integrated into everything we do and much of the technology we use, and that includes mixed reality interfaces and devices. Simply put, AI is a branch of computer science in which computers are programmed to do things that normally require human intelligence. This includes learning, reasoning, problem-solving, understanding language, and perceiving a situation or environment. AI is an extremely large, broad field that uses its own computer languages and even special kids of computer networks, which are modeled on our human brains."
June 23, 2017
Excerpt from Quartz -- "...in our study, we found that having digital photos was not as effective as physical photos. In fact, the ease of instantaneously sharing digital photos may inhibit how often we talk about our experiences. Back in the old days, we’d wait until we finished a roll of film and then bring it to the store to get printed. So waiting for the pictures kept the experience top of mind. Then, we’d take the pictures around to our friends one by one (or group by group) and get to share our experience over and over again. Now, we simply post it on social media once and we’re done."
In an in-depth interview, Professor Anindya Ghose discusses the future of technology and how it continues to change the world's economy
June 22, 2017
Excerpt from Bloomberg View -- "Over the last five years, consumers have been spending more and more time on mobile devices. From 2012-2016, we've come from 10% of our time to nearly 25% on these devices. This is telling companies there is a lot of opportunity for monetization."
Excerpt from Fashionista -- "'[A product drop] doesn't conform to traditional fashion release timing, so it's unpredictable and, therefore, the products seem scarce,' NYU Stern School of Business Associate Professor of Marketing Adam Alter tells Fashionista. 'Scarcity makes them desirable because they aren't available to just anyone — they're only available to people who happen to be tuned in to the product's release.'"
June 21, 2017
Excerpt from CNBC -- "... we hope there's some progress here. The fact that America attracts the brightest and hardest-working people in the world is one of the secret ingredients of our success, so I hope the president is listening. ... The men and women in that room are in an impossible position. You want to engage, you want to be seen as contributing to the dialogue, but the bottom line is, anyone who enters a photo shoot with Donald Trump usually leaves with less credibility... "
Excerpt from the World Trademark Review -- “The research … casts serious doubt on the validity of the best evidence we have that trademark dilution actually exists. What has been reported as (and assumed to be) evidence of trademark dilution may actually be merely the result of nothing more than the subjects being surprised by seeing ads such as those for MERCEDES and INFINITI toothpaste employed in our studies. We are forced to reconsider the question the title of this paper: is dilution a unicorn?”
Excerpt from Bloomberg -- "I think this is a game-changer. You're going to have Amazon in the wealthiest, most affluent households, not once every other week but twice a week now. This threatens not only retailers, but it potentially disrupts CPG companies who Amazon is conspiring with half a billion consumers and fanatical investors to give it almost infinitely cheap capital to starch the margin from brands on behalf of consumers. And then you talk about potential disruption in the media market as shopper and in-store marketing gets challenged by what Amazon's going to do with their technology to let people bid on in-store marketing. ... I believe this is going to make Facebook's acquisition of Instagram the second-best acquisition of the decade, and this will be number one."
Professor Anindya Ghose explains how India's online retailers are adapting to counter competition from foreign retail giants
June 18, 2017
Excerpt from the Economic Times -- "Experts suggest that both furniture upstarts may have to work hard to compete with the likes of Ikea. 'Innovative and savvy retailers like Ikea are combining customer identification and analytical capabilities of data from internet retailing with the time-tested advantages of face-to-face retailing,' says Anindya Ghose, Heinz Riehl chair professor of business at New York University’s Stern School of Business."
June 15, 2017
Excerpt from VentureBeat -- "Adam Alter, a marketing professor at NYU-Stern, tries to explain this in Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked. He cites a 2015 study that shows 6 in 10 people (59 percent) admit they are dependent on social media sites but say their reliance on these sites ultimately makes them unhappy."
Excerpt from Quartz -- "'They have been able to utilise the manufacturing infrastructure in Shenzhen and thus build high-quality smartphones with flagship-standard specs at low cost,' NYU’s Ghose said, adding that they also enjoy tax breaks and more lenient labour and environmental standards. Now, with Indian prime minister Narendra Modi’s 'Make in India' push, Chinese phone-makers like Huawei are bringing their production to India, driving down costs further by bypassing import charges."
Professor Michelle Greenwald shares marketing insights from Gatorade's partnership with Smart Design on a new product launch
June 15, 2017
Excerpt from Forbes -- "The Gatorade Gx platform, including customizable hydration pods, creates a new, direct-to-consumer business model for Gatorade and more sustainable product delivery system. Building on years of science and research at the Gatorade Sports Science Institute, Gx incorporates compelling aspects of the latest trends in personalization and customization."
June 12, 2017
Excerpt from Luxury Daily -- "'It serves two functions. On the one hand, it allows technology to become a very handy platform through which the medium of fashion can be explained, illustrated and preserved all the while reaching a very broad public,' [Serdari] said. 'On the other hand, it also demonstrates Google's unconventional thinking in terms of classifying and discussing fashion.'"
– Faculty NewsProfessor Scott Galloway is interviewed about the importance of gender equality for companies
June 9, 2017
Excerpt from the Financial Times -- "According to Scott Galloway, marketing professor at New York University, in the Trump era 'being perceived as a female-friendly firm is just smart'. There is currency for companies in being, or at least appearing, socially conscious, he says, arguing that this has shielded the 'big four' technology groups — Google, Amazon, Facebook and Apple — from scrutiny in Washington."
Professor Anindya Ghose is interviewed about his research on mobile advertising, from his book, “Tap”
June 6, 2017
Excerpt from MarketWatch -- "For instance, Ghose’s research has found that shoppers are more susceptible to pitches from retailers during their commutes, that groups of three people are easier to target than twos or fours, that good and bad weather can be powerful motivators, and that the key to understanding customers is tracking their habits. 'We think we are all very spontaneous, when in fact we are very predictable,' Ghose said."
June 5, 2017
Excerpt from Thrive Global -- "You can’t just delete a habit; you have to replace it with something. 'It needs to be different enough that it doesn’t fit the same habit loop,' Alter says, 'but fulfills the same psychological need.'"
Excerpt from Barron's -- "'Amazon has effectively conspired, with voice and technology and about a half-billion consumers, to destroy brands,' said Scott Galloway, a New York University marketing professor in an April talk that still is discussed on Wall Street. Amazon’s view, he argues, is that brands have an 'unearned' price premium that doesn’t match their benefits to consumers."
May 31, 2017
Excerpt from The Wall Street Journal -- "Kim Corfman, a professor of marketing and academic director of NYU Stern’s new fashion-focused program, says the new degree is a good fit for the school, given classes like 'Luxury Marketing' and 'Next Generation Fashion' that the school already offered to M.B.A. students."
Excerpt from WashingTECH -- "In my book, I talk about the important distinction that policymakers should provide between government use of our data and corporate use of our data. So what I mean by that is, if Amazon or Google or Apple, any other company, is trying to send me an offer or a message and that's not relevant or that's not well targeted, it may end up being annoying. But it's not going to completely change my life. Whereas, we've also seen issues about government use of our data that goes to the extent of extreme surveillance. So I would like the average consumer to be embracing the distinction between government use of data and corporate use of data, and I think policymakers should also embrace that distinction."
May 28, 2017
Excerpt from Business Insider -- "Alter said in his talk that screens 'rob us of stopping cues,' which are signals that remind us to move on. The distraction and entertainment is constant, unlike a newspaper which finishes when you reach the end. Instead, there is no obvious time to stop — so we don't."
Professor Luke Williams' remarks at the Token Summit, hosted by Stern's Berkley Innovation Labs, are featured
May 26, 2017
Excerpt from Forbes -- "The recognition that the few hundred people in the room had barely started their journey was reflected in remarks by NYU Stern Business School professor Luke Williams. 'It takes a long time for people’s thinking to catch up to the technology,' he said. 'One of the reasons we’re here today is to allow our thinking to keep track with the mechanism of technology. Thinking changes much slower because we’re dealing with really well-established concepts like money.'"
Professor Adam Alter is interviewed about behavioral addiction and technology, from his book, "Irresistible"
May 25, 2017
Excerpt from Fox News -- "Every time you check an email, it could be something fantastic or it could be something mundane or maybe you don't have one at all. The same is true of every social media experience you have. You send something out into the world, sometimes you get great feedback, sometimes you don't. And that question mark is something that humans find really compelling."
Excerpt from Smart People Podcast -- "...What's happening over the last 4 or 5 years is that consumer usage of mobile phones and tablets has dramatically increased. It means we are spending more and more of our time there, whereas we're essentially reducing our time spent on television and newspapers and magazines, so on. Businesses find it valuable to be in those spaces, where consumers are, because then you can have a conversation with your consumer. You can have their attention."
May 19, 2017
Excerpt from Vice -- "'The like button, simple as it was, tapped into a bottomless font of social feedback,' explains Adam Alter, author of Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked. 'And I don't think social media companies are trying to make "addictive" platforms, per se. But since they're all competing for our (limited) time and attention, they've always been focused on making the most engaging experience possible.'"
May 17, 2017
Excerpt from Forbes -- "Luki and Gerrit direct creative teams (clients, students, individuals) in developing Manual Thinking maps during 'non-spoken' work sessions that are democratic, unbiased, and uniquely collaborative. Participants use removable labels to first write ideas, words and images, and later arrange them on large surfaces to create Mind Maps, which can be further adjusted at any time."
May 17, 2017
Excerpt from CNBC -- "'Amazon has algorithms that go out and look for the lowest price per ounce ... then demand that their brands offer that same price or better per ounce in any package or within a nano second, or they will kick you off,' said Galloway."
Excerpt from The New York Times -- "[President Trump] is thus the all-time record-holder of the Dunning-Kruger effect, the phenomenon in which the incompetent person is too incompetent to understand his own incompetence."
Excerpt from Bloomberg View -- "Named after psychologists David Dunning and Justin Kruger, the effect describes the way people who are the least competent at a task often rate their skills as exceptionally high because they are too ignorant to know what it would mean to have the skill."
Excerpt from Luxury Daily -- "'It allows McLaren to gain brand equity through a new channel of communication, namely gaming, an area still out of limits for most luxury brands,' [Serdari] said. 'McLaren is pioneering a bridge between the real and virtual worlds in a way that no other luxury brand has attempted before.'"
Excerpt from Barron's -- "In a recent conversation with Barron’s, Lev pointed to one such clue for Amazon: Though it holds fewer patents than Alphabet, its patents are cited more often in filings by others, suggesting they’re more valuable. ... Amazon has changed the relationship between companies and investors by replacing profit with growth and vision, according to a colleague of Lev’s, Scott Galloway, an NYU marketing professor and founder of digital-research platform L2. 'Loss is the new black,' he told attendees at a conference last month, citing the willingness of upstarts like Uber to lose steep and growing sums. 'You can argue this might not end well…but the reality is retail investors love this model.'"
Excerpt from The New York Observer -- "'Amazon has essentially changed the relationship between companies and shareholders,' Galloway said. 'And that is, it has replaced profits with vision and growth.'"
May 2, 2017
Excerpt from Bloomberg -- "The big thing I think is the sort of uncertain rewards that you get from any interaction with online media. So if you post something, you're wondering whether people will engage, whether they'll reply, whether you'll have likes and comments and shares. Humans find that absolutely addictive. We're fascinated by what other people think of us more than pretty much anything else."
May 1, 2017
Excerpt from PCMA Convene Magazine -- "'If you’re motivated to grow, you also have to be motivated to lead innovation, because it’s not just another transient management fad,' Williams told Convene in a recent interview. 'It’s actually what draws economic growth. If you don’t innovate, you can’t grow.'"
April 28, 2017
Excerpt from The Washington Post -- "Alter found that those who did set finite rules for their technology use — like never using it at the dinner table or putting it on airplane mode when you’re out on the weekends (so you can access the camera but not the Internet) — were able to enjoy life more. 'Life becomes more colorful, richer, you have better conversations, you connect with the person who is there with you,' he said."
In an in-depth interview, Professor Adam Alter shares tips for limiting smartphone use, from his book, "Irresistible"
April 27, 2017
Excerpt from Knowledge@Wharton -- "It sounds so simple. It sounds like all we have to do is just say, 'No, I’m not going to use this. I’m going to put it away for a certain number of hours.' That’s obviously the first thing to try to do. The other thing you can do on smartphones is sort of de-fang them. You can make them a little less potent. Take off all the sounds that tell you that there’s a new email. Remove push notifications. Make sure that the phone isn’t telling you when to pick it up, that you’re deciding it’s time for me to pick it up."
Professor Adam Alter's joint research on cognitive disfluency and Professor Yaacov Trope's joint research on psychological distance are featured
April 27, 2017
Excerpt from Factor Daily -- "...this theory, proposed by psychologists Nira Lieberman and Yaacov Trope, suggests that this construal level is a function of another concept called psychological distance. ...research by Adam Alter and Daniel Oppenheimer has shown that using hard-to-read fonts in a message or advertising can manipulate the mind into a higher construal level, while easy-to-read fonts can lead to lower construal levels."
Excerpt from Institutional Investor -- "Authors David Dunning and Justin Kruger revealed some interesting tendencies regarding peoples' perceptions of their own competence, tendencies that have distinct relevance for investors."
April 25, 2017
Excerpt from Recode -- "...commuters in crowded subway trains are about twice as likely to respond to a mobile offer by making a purchase vis-à-vis those in non-crowded trains. The response rate across the entire sample was five times higher than the average response rate of mobile coupons and twice the response rate for location-based mobile coupons."'
Professor Anindya Ghose is interviewed about his research on mobile advertising and his new book, "Tap"
April 25, 2017
Excerpt from AdExchanger -- "A lot of my book talks about the conundrum of consumers getting overwhelmed with ads and offers. The reason is that, as astonishing as it may sound, companies today still don’t have enough data about our preferences. The data exists, but it exists in silos. Someone has to come and stitch the consumer profile together. In the absence of that, brands send us an overwhelming amount of ads because they don’t have enough information about my preferences."
April 24, 2017
Excerpt from Business Insider -- "Millennials spend more time watching Netflix than they do all of cable TV combined. The scary thing for Netflix is that Amazon, whose core business isn’t even streaming video is going to spend $5 billion on original content this year, more than NBC or ABC at $4 billion or HBO at $2.5 billion. Netflix is at $6.5 billion."
Professor Anindya Ghose is interviewed about mobile ads and privacy, from his forthcoming book, "Tap"
April 21, 2017
Excerpt from Cheddar -- "I have seen over the last 10 years and across 6 countries a lot of apprehension and fear that consumers have. My message is for the most part, their fear is misguided. We actually overestimate the extent to which companies will want to abuse our data, and astonishing as that might seem, most companies, if not all of them, have very little incentive to actually misuse our data."
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Professor Adam Alter is interviewed about technology and behavioral addiction, from his new book, "Irresistible"
April 18, 2017
Excerpt from NBC News -- "I don't think tech companies are explicitly trying to make their products addictive — at least that's not the term they'd use. I think they'd describe it as 'maximizing engagement,' or, to borrow a term from the gambling industry, maximizing 'time on device.' If you're competing for limited attentional resources, you need to make sure people can't stop using your product once they start."
Excerpt from Business Insider -- "When you buy a share of Snapchat you're giving a 26-year-old money with absolutely no recourse. No shareholder rights whatsoever and you're investing in a company whose losses exceed its top-line and also has probably the world's most agile and competent company in the world — Facebook has decided that they will kill Snapchat no matter what."
Excerpt from New York Magazine -- "In one study led by the NYU marketing professor Justin Kruger, Epley and his colleagues asked participants to write pairs of sentences — one serious, one sarcastic — on various topics and email them to another subject, who would guess which was which. Senders estimated the sarcastic sentence would be misidentified only 3 percent of the time. Instead, recipients got it wrong five times as often."
Excerpt from Bloomberg -- "On a scale of 1 to 10, it was -1. I think it was probably the most tone-deaf response I've seen to this type of issue, I think, possible ever. He used the term 're-accommodate' as if he was trying to put a good spin on it. It just took a bad situation and made it worse."
Professor Adam Alter is interviewed about behavioral addiction and technology, from his book, "Irresistible"
April 9, 2017
Excerpt from The Australian -- "[Alter] believes it’s possible that half of us now suffer from some form of behavioural addiction. And while this is bad news for adults who wish to escape their smartphone screens, it’s even worse news for children. Their impulse control is still a work in progress. They don’t think about the costs and benefits of their behaviour. If left to their own devices – literally, figuratively – kids do not stand a chance against such sophisticated technologies."
Excerpt from Yahoo News -- "One theory, according to Professor Justin Kruger is that people who are often late tend to grossly underestimate how long it will take them to do common tasks."
Excerpt from Racked -- "'Amazon’s algorithm is complicated,' says Galloway, 'but it generally favors what sells the most. So if you search booties, it’ll likely show you what’s three years old, and not the new shoes sold on Macy’s or Net-a-Porter. That’s not great for fashion labels constantly putting out new collections.'"
Excerpt from CNBC -- "The core competence now in the markets is storytelling. And it's painting a huge vision and then making progress against that vision, and you're able to establish this anti-gravity-like trajectory for your stock. And Tesla's in that anti-gravity bucket because on any rational measure, this doesn't make sense."
April 3, 2017
Excerpt from Tell Me Something I Don't Know -- "There's actually a great deal of research in psychology that suggests that using payments or incentives to motivate certain types of behaviors can actually get you worse results. ... Why did the incentives backfire? It turns out that the incentives actually turned that altruistic act into an economic one."
April 2, 2017
Excerpt from the Economic Times -- "According to experts, this private label duel between India's top two ecommerce companies has happened in step with shifting consumer behaviour. 'Consumers have gotten more comfortable with private labels and consider them as interchangeable with national brands,' says Ghose of the Stern School of Business. 'It is this change in consumer behaviour that online retailers like Amazon and Flipkart have capitalised on and are leveraging and harnessing to the full extent.'"
March 30, 2017
Excerpt from Luxury Daily -- "The initiative simply means greater business opportunities for high-quality manufacturers and greater creative potential for designers. It is a win-win proposition with great revenues potential for both parties."
In an op-ed, Professor Amy Webb argues that artificial intelligence will have a significant impact on the job market
March 28, 2017
Excerpt from the Los Angeles Times -- "But AI won’t just affect driving, of course, it will soon affect every worker who processes transactions, and that includes white collar jobs. Already, machines are out-performing humans at storied investment banks like Goldman Sachs, where four traders can be replaced by one computer engineer and a handful of complex trading algorithms with machine-learning capabilities."
Excerpt from The New York Times -- "For Mr. Galloway at N.Y.U., the slow pace of Amazon’s rollout of stores is a sign that it has not figured out physical retail yet, and that has surprised him. Five years ago, he believed Amazon would have hundreds of stores by this time. 'What appears to be clear is they haven’t yet zeroed in on a format they’re willing to massively scale,' he said. 'This is a company that the moment it figures out something that works, it puts nuclear energy behind it.'"
Professor Amy Webb reviews two new books on data, "The Art of Invisibility," and "Data for the People"
March 15, 2017
Excerpt from The New York Times -- "To the average person, this raw material is undetectable noise. But for organizations that know how to identify signals, there’s immense value in refining what has become an unlimited supply."
Excerpt from TODAY.com -- "There will be certain high-end niches, but for the most part, and also it becomes a complicated conversation because there is an American manufacturing index - what car is the most manufactured car in the US? And the winner? The Toyota Camry. So what it means to be made in America is now taking on new meaning."
March 11, 2017
Excerpt from The New York Times -- "Used within reasonable limits, of course, these devices also offer us new graces. But we are not using them within reasonable limits. They are the masters; we are not. They are built to addict us, as the social psychologist Adam Alter’s new book 'Irresistible' points out — and to madden us, distract us, arouse us and deceive us."
Excerpt from Business Insider -- "This overestimation is called the Dunning-Kruger effect. It is the cognitive bias that makes less competent people overestimate their own skills while underestimating the competence of others. The term was coined in 1999 in the publication of David Dunning and Justin Kruger. The psychologists had noticed in prior studies that in areas like reading comprehension, playing chess or driving a car, ignorance leads to confidence more often than knowledge does."
Professor Anindya Ghose's expert testimony in a hearing about Verizon's acquisition of AOL is highlighted
March 7, 2017
Excerpt from Law360 -- "Earlier in the day, the petitioning investors called New York University professor Anindya Ghose to testify as an expert in online and mobile advertising. Ghose said that AOL had grown to become much more than an Internet service provider and had made in-roads into the digital marketplace. 'It was much more that a dial-up company,' Ghose said of AOL at the time of the Verizon deal. 'It was a global media tech company.'"
March 7, 2017
Excerpt from AFP -- "Scott Galloway, who teaches brand strategy and digital marketing at New York University's Stern School of Business, said Uber has little room for further error after these missteps. Galloway, who also founded business intelligence firm L2, said the news about Uber over the past month has been 'very damaging' but may be surmountable."
Excerpt from the Financial Times -- "[Alter] concludes that not only are humans peculiarly susceptible to becoming hooked to their devices, even if they do not enjoy the experience, but games and social media companies are expert at keeping them enthralled."
In an in-depth Q&A, Professor Adam Alter shares insights on behavioral addiction from his book, "Irresistible"
March 6, 2017
Excerpt from The New York Times -- "The technology is designed to hook us that way. Email is bottomless. Social media platforms are endless. Twitter? The feed never really ends. You could sit there 24 hours a day and you’ll never get to the end. And so you come back for more and more."
Excerpt from The Washington Post -- "By the end of his enjoyable yet alarming book, 'Irresistible: The Rise of Addictive Technology and the Business of Keeping Us Hooked,' you may be convinced that Alter is right and want to seriously rethink the behavioral addictions in your life."
Professor Anindya Ghose shares takeaways from his research on mobile advertising as featured in his forthcoming book, "Tap"
March 1, 2017
Excerpt from Wharton@Work -- "'On the outside,' says Professor Anindya Ghose, 'it is very easy for businesses to get discouraged by consumers’ seeming resistance or inhibition to advertising. What lies beneath the surface is different though.' In his new book Tap: Unlocking the Mobile Economy, Ghose says the leveraging of mobile data, combined with his ground-breaking studies in randomized field experiments in different parts of the world, economics, and behavioral psychology, have unearthed knowledge that can help us better understand our customers, and ourselves."
March 1, 2017
Excerpt from Forbes -- "'The cool kid premium eventually goes away,' said Galloway, who is also cofounder of research firm L2. 'Instagram played that role two years ago. Facebook played that role four years ago. You can only be the new kid on the block for so long, and then it becomes ROI.'"
Excerpt from WGSN -- "Social media has been instrumental in informing young consumers, and most importantly in instructing them on what is desirable and how luxury should look or feel."
February 24, 2017
Excerpt from DMN -- "The fundamental principles are still very much there, it's just the tools have changed. If you think about communication and persuasion, the fundamentals are still the same. It's not like human beings have completely changed their nature and basic psychological motives. With respect to that, there's definitely an emphasis these days on digital."
February 24, 2017
Excerpt from the Harvard Business Review -- "A classic finding in the psychology literature is the Dunning-Kruger effect (named after David Dunning and Justin Kruger, who first described it): Poor performers in a domain are more prone to overestimate their ability than good performers. Why? Poor performers are unaware of the many elements that go into expert performance, and thus they are overly confident in their ability to carry out all of the tasks necessary to succeed."
February 21, 2017
Excerpt from The Telegraph -- "As Alter illustrates, a mere six ingredients lie behind most truly addictive experiences: goal setting, feedback, progress, escalation, cliffhangers, and social interaction. Think of the things you keep coming back to, for good or ill – running with your FitBit, watching Breaking Bad, browsing Facebook – and you’ll find one or more of these. Combine them all, as in a Massively Multiplayer Online Game like World of Warcraft, and to the right person at the right time they really can become irresistible."
Professor Thomaï Serdari comments on Dior's messaging strategy in introducing its new creative director
February 17, 2017
Excerpt from Luxury Daily -- "'As the brand pushes forward, it is prudent to prepare the consumers for what is coming,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York."
Professor Samuel Craig is interviewed about mobile kitchens that serve New York's TV and film industry
February 13, 2017
Excerpt from Crain's New York Business -- "'It’s episodic, nomadic,' said C. Samuel Craig, director of the entertainment, media and technology initiative at NYU’s Stern School of Business. 'You come together to make the film and then disappear and then reconfigure to make a different show or a TV commercial or a movie.'"
February 8, 2017
Excerpt from TheStreet.com -- "'The average Indian consumer does not need as much as "localization" in high tech and high value assets as the average consumer elsewhere, such as in China. What that means is what works in the US will also, for the most part, work very well in India,' said Ghose."
February 7, 2017
Excerpt from Forbes -- "Recognizing that low cost hardware manufacturing is not a way to sustain an economy when lower labor countries can undercut them in price, and recognizing the tremendous, broad spectrum engineering talent it has as a country, Taiwan is once again reinventing itself, focusing on intellectual property and innovation that are less capital intensive."
Professor Minah Jung is interviewed about the incorporation of political messaging into Super Bowl ads
February 6, 2017
Excerpt from The New York Post -- "'These stories, like this mother and daughter (from 84 Lumber), are ultimately hard to refute, hard to be critical of,' NYU marketing professor Minah Jung said. 'There was a collection of ads emphasizing liberty, equality, pro-immigration, diversity, uniting people from all backgrounds, openness to diversity.'"
February 6, 2017
Excerpt from Marketing Dive -- "'A lot of people are watching the Super Bowl just for the commercials. So any influencer that comments on or ties their post back to the commercials could do particularly well,' said Barasch. '[P]eople are looking to engage with brands, products, and ads more on Super Bowl day than any other day of the year — so something that is geared towards consumer action (e.g., visiting a website, using a hashtag on social media, participating in a contest) could be particularly effective.'"
February 2, 2017
Excerpt from the Los Angeles Times -- "'The country is so split politically right now,' said Russell S. Winer, a marketing professor at New York University. 'Marketers are spending at least $5 million just to be in the Super Bowl — and they don’t want their messages to alienate anyone.' ... 'Comedy is a good way to cut across the political spectrum,' Winer said."
Excerpt from Inc. -- "The founder of the Future Today Institute, a strategy and technology research firm, Webb has been studying the future of technology and media for more than a decade. (Previously, she launched Webbmedia Group, a company that advised media and tech companies.) These days, she also lectures at Columbia University, and was recently designated an adjunct assistant professor at NYU's Stern School of Business. Insiders called Webb a key 'trend spotter' of the New York startup ecosystem. Webb is also a columnist for Inc. magazine."
Professor Scott Galloway comments on the impact of President Trump's ties to the New England Patriots on their fan base
February 1, 2017
Excerpt from The Boston Globe -- "'There’s a reason why teams have fish and [birds] on their helmets and not people,' said Scott Galloway, a professor of marketing at NYU’s Stern School of Business. 'It’s very dangerous for a team to associate itself with anyone but the most likable people in a public way. And politicians are almost always going to alienate at least half your base.'"
Excerpt from the Los Angeles Times -- "'Trump's grandfather immigrated from Germany, so there's a double dose of irony,' said Russell S. Winer, a marketing professor at the New York University Leonard N. Stern School of Business. 'I think Americans will like the ad, as they don't think of immigrants from Europe the same way as immigrants from Africa or Muslim countries in the Middle East.'"
Professor Thomaï Serdari shares her views on Calvin Klein's offering of bespoke services to all customers
January 24, 2017
Excerpt from Luxury Daily -- "'Opening up its bespoke services to everyday clients will help Calvin Klein elevate the customer’s perception of the brand and also intrigue them with the possibility of something both unique and special (as all bespoke items are) as well as representative of the iconic American style the brand ushered in the past with its collections,' [Serdari] said."
Excerpt from Forbes -- "Coined in 1999 by then-Cornell psychologists David Dunning and Justin Kruger, the eponymous Dunning-Kruger Effect is a cognitive bias whereby people who are incompetent at something are unable to recognize their own incompetence. And not only do they fail to recognize their incompetence, they’re also likely to feel confident that they actually are competent."
Excerpt from Forbes -- "'If you’re vested in growth, you have to be vested in innovation,' noted Luke Williams, a professor of innovation at the NYU Stern School of Business, who spoke Tuesday at Oracle CloudWorld. The challenge for companies is that existing organizations are 'systems of continuity' that tend to resist real change unless they’re under an almost existential threat."
January 24, 2017
Excerpt from The Karen Hunter Show -- "When you search on Google for something, sneakers, let's say, and you click on the images tab, it will bring up a whole bunch of sneakers. Someone in the past had to tag that image with it. Now, computers are tagging it automatically."
Professor Priya Raghubir explains why some retailers may try to use the presidential inauguration as a sales opportunity
January 19, 2017
Excerpt from MarketWatch -- "Regardless of the tense political climate, presidential inaugurations aren’t typically seen as a shopping opportunity, said Priya Raghubir, the chairwoman of New York University’s Stern Business School’s marketing department. That said, since retailers are experiencing a post-holiday slump, some will likely try to capitalize and sell inauguration memorabilia, she added."
January 18, 2017
Excerpt from Forbes -- "If you are in any position of leadership—whether you’re the CEO, a mid-level manager, an investor, or an entrepreneur with a great idea—you will be confronted by new technology for the rest of your life. Failing to strategically monitor these trends and plan for the future will put your organization and future earnings at risk. People and organizations who use the tools of futurists —Nintendo, IBM, Amazon —succeeded even in the face of disruption; while those that didn’t—Blackberry, Zenith, Kodak––met their demise."
Professor Adam Alter's joint research on the link between a person's skin tone and how he or she is perceived is featured
January 17, 2017
Excerpt from Scientific American -- "Although psychologists have known for a long time that people associate dark skin with negative personality traits, this research shows that the reverse is also true: when we hear about an evil act, we are more likely to believe it was done by someone with darker skin. This 'bad is black' effect may have its roots in our deep-seated human tendency to associate darkness with wickedness. Across time and cultures, we tend to portray villains as more likely to be active during nighttime and to don black clothing. Similarly, our heroes are often associated with daytime and lighter colors. These mental associations between color and morality may negatively bias us against people with darker skin tones. If this is true, it has far-reaching implications for our justice system. For example, eyewitnesses to crimes may be more likely to falsely identify suspects who possess darker skin."
Excerpt from Forbes -- "'They might be able to take Prime households from $1,300 per year to $10,000 by basically saying we’re going to fulfill everything you need,' said Galloway in a recent YouTube interview with L2 co-founder Maureen Mullen."
In an op-ed, Professor Thomaï Serdari shares innovation lessons for the fashion industry from beauty brands
January 16, 2017
Excerpt from Sourcing Journal -- "Fashion brands can combat consumer fatigue and turn it into excitement. To do that though, they need to better utilize creativity as a means to solving consumer-centered problems that are extracted from contemporary culture. For some brands, this needs to be addressed at the business level to bridge the gap between their operations and creative teams. For others, it needs to be executed properly and manifest itself in new form in front of the consumer. It can take the form of consumer-centered packaging/grouping, communicated in a context that stays as close to reality as possible, and activated via signs and codes that are authentic and flexible. If beauty can do this, so can fashion."
January 15, 2017
Excerpt from the Financial Times -- "A couple of days ago, I also received a book called Irresistible: The rise of addictive technology and the business of keeping us hooked by Adam Alter and I’m looking forward to diving into that."
Professor Anindya Ghose is interviewed about trends in mobile marketing and mentions his forthcoming book, "Tap"
January 13, 2017
Excerpt from Knowledge@Wharton -- "A focus of my book is about these nine forces that are shaping the mobile economy. I start by talking about context, which is sort of the super-force, as in why your customer is here, what he or she wants, and how he or she is feeling. But there are also other factors like location and time, weather and crowdedness, as I mentioned. For a retailer that’s trying to … reach out to the consumer, what they need to do is essentially figure out this concept of 'in-the-moment marketing.' The better you know the consumer’s context, their 'why, what and how,” and the better you know some of the other forces, the better you can combine that data. The sum of the parts is greater than the whole."
Excerpt from Quartz -- "'Uber wants to essentially use its API so other app developers can build their apps on top of it,' Anindya Ghose, director of New York University’s Center for Business Analytics, told Quartz. 'I see it as Uber’s attempt to broaden and diversify its presence.'"
January 9, 2017
Excerpt from New York Magazine -- "Dunning, a social psychologist, is one of the lead authors of 'Unskilled and Unaware of It: How Difficulties In Recognizing One’s Incompetence Lead to Inflated Self-Assessments,' an article in the Journal of Personality and Social Psychology based on the results of a study he and a student, Justin Kruger, conducted at Cornell in 1999. As the title suggests, what they found was the existence of a cognitive bias in which the less able people are, the more likely they are to overestimate their abilities."
Stern's new advisory track for undergraduate students in luxury marketing is featured; Professor Jeff Carr and undergraduate student Dana Li are quoted
January 6, 2017
Excerpt from Poets & Quants -- "Stern has a couple of different retail courses, a specific luxury marketing class as well, and a speaker series which Carr runs. 'At NYU Stern, we have a really strong understanding of our unique geographic advantage. New York is the fashion capital of the world. Anyone who’s anyone is here, whether they’re an American company or an Asian company. If you don’t have a presence here, you won’t make it globally,' Carr says. 'So given that everyone is here, we have a great opportunity to bring in speakers.' ... Li has taken several electives in the luxury marketing track already, including the experiential seminar, and believes that they’ve prepared her well for her internships. 'It really gave me a good sense of luxury retail operations, how the different functions play together to form the company and how the company would run on a day-to-day basis,' she says."
January 6, 2017
Excerpt from Marketplace -- "Medium's not in that league by any means, and it'll be an uphill battle for them to be able to incentivize people to pay for their content."
January 4, 2017
Excerpt from The Native Society -- "There are endless ways to contribute to the world, and the world needs many sorts of talents. All I can do is try to find my own way to contribute. At this point, the one thing I’m sure of is that I draw strength from the people around me. I’m honored to be part of a discipline full of such dedicated and talented people. So I do my best to bring people together and make a whole greater than the sum of its parts. Part of that is being there when I’m called on in unexpected ways, being open to new things, and being willing to leave my comfort zone. I try to take a 'never say no' approach to work and life."
January 4, 2017
Excerpt from Poets & Quants -- "Williams’ philosophies are grounded in a successful career that includes designing over 100 products and holding 30 patents. Like any great teacher, Williams is simply looking to unlock and magnify the potential talents of his pupils. 'When students start believing that their fundamental purpose is to alter the status quo, rather than preserve it, their motivation and mindset starts to change,' he observes. 'They begin to see opportunities beyond what others have defined as limits.'"
Professor Adam Alter underscores the impact of technology addiction, from his forthcoming book, "Irresistible"
January 4, 2017
Excerpt from the Financial Times -- "Limiting work used to be simple: it was just a matter of imposing shorter shifts. The seamless, addictive nature of digital communication makes it harder. But companies have a stake in realising 'how damaging social media and tech addiction can be', as Adam Alter, author of Irresistible, a forthcoming book on digital addiction, argues."
January 3, 2017
Excerpt from WalletHub -- "The question, therefore, is not only whether the diamond prices will continue to drop based on factors that determine the global economy, but also whether diamonds can still capture the imagination of consumers and whether these consumers are willing to pay premium prices for diamond jewelry."
Professor Michelle Greenwald highlights Grand Street Dental's innovative approach to creating a customer experience
January 2, 2017
Excerpt from Forbes -- "Grand Street Dental exemplifies a thorough and classic approach to marketing, design, and innovation, normally utilized by large companies. What I found so extraordinary and more importantly, what patients will be impressed with and want to spread virally, is the unusual level of patient experience empathy at every point that a brand impression can be made."
January 1, 2017
Excerpt from Cosmopolitan -- "You're less likely to break a big bill, a study in the Journal of Consumer Research found."
December 29, 2016
Excerpt from Quartz -- "Ghose recommends that Apple should 'partner with some of the local app developers so that the content and features are customized to the Indian market' and take a page out of Amazon’s playbook to license deals with major movie and music studios for digital content."
Excerpt from Scientific American -- "Psychologists have known for some time, thanks to work led by Nira Liberman from Tel Aviv University and Yaacov Trope from New York University, that goals look different in the distant versus near future. Three months ago, when you booked your holiday travel, you probably had some abstract notions of 'family togetherness,' 'relaxation,' or 'adventure.' The night before you left, however, you probably had some more immediate concerns in mind. Concerns like, 'How is all this stuff going to fit in the suitcase?' and 'Will I be able to get an Uber driver at 4:45 AM?'"
Professor Scott Galloway discusses Verizon's options in connection with its planned acquisition of Yahoo in light of a second hack
December 16, 2016
Excerpt from Bloomberg -- "I think the most likely one is they extract their pound of flesh and they reduce the price. The other option is to walk from the deal. I think the stock would pop and it would show some discipline on behalf of Verizon management if they walked right now. The other thing is to try and create some sort of legal entity where they would put AOL and Yahoo into that distinct entity to try and, if you will, create a firewall around what might be an unbelievable amount of liability."
December 13, 2016
Excerpt from Politico -- "Companies like IBM, Procter & Gamble and Google have relied on futurists to look at the fringe, map trends and build scenarios for the next 10, 20, 30 and even 50 years of their organizations and industries. Because of futures thinking, IBM — a company that was founded before there were cars, let alone computers — is at the forefront of artificial intelligence, modeling the ways in which our work will be augmented by machines."
Professor Priya Raghubir is interviewed about her research on the connection between payment methods and spending
December 8, 2016
Excerpt from Consumer Reports -- "'There’s just something painful about taking money out of your wallet,' says Priya Raghubir, professor of marketing at New York University. When you hand over cash or a check, you part with something of value. Yet after you swipe a credit or debit card, you put the same object back in your wallet. Paying feels less real, which encourages more spending."
Professor Michelle Greenwald shares takeaways on innovation from Snøhetta, a leading architecture firm
December 2, 2016
Excerpt from Forbes -- "Multi-disciplinary designer teams, solve problems and find solutions often in collaboration with insightful individuals from outside the firm. Snøhetta’s staff includes architects, interior architects, landscape architects, and graphic designers, that work collaboratively. At times other perspectives are brought in, such as anthropologists, subject specialists and individuals working in different forms of the arts."
Excerpt from TheStreet.com -- "'Amazon does pose a major threat,' said Anindya Ghose, Professor of Marketing at New York University's Leonard N. Stern School of Business. 'It is incredibly difficult for a firm like Flipkart or Snapdeal to find a sustainable unique selling point in e-commerce retailing that will help differentiate them from the 800 pound gorilla in the room.'"
November 28, 2016
Excerpt from NBC News -- "'Conversion rates, which used to be a bottleneck in the past, are no longer as much of an impediment,' [Ghose] said. This is for two reasons: Shoppers today are more comfortable shopping on their phones, and stores have invested in technology, like credit card image-capturing, that makes transactions more seamless."
In an in-depth interview, Professor Russell Winer discusses marketing in the higher education industry
November 23, 2016
Excerpt from Evolllution -- "I am a strong believer in marketing and brand building. I think that many of the concepts that I teach in my core marketing course can be applied to the management of higher education institutions. Other than brand building, all organizations need a strong marketing strategy and what we call a value proposition: why a student would come to, say, NYU rather than another university. Other key marketing principles are distribution and communications. For example, with respect to distribution, many universities are not adding online educational offerings beyond traditional bricks and mortar."
November 19, 2016
Excerpt from The Guardian -- "Dishonesty hurts a brand’s reputation as well as sales, said Tülin Erdem, a business and marketing professor who specializes in brand reputation management at New York University’s Stern School of Business. Welspun’s shares dropped by nearly 43% in the week following the announcement from Target, which was the manufacturer’s second largest customer and accounted for $90m, or 10% of the company’s business, in the fiscal year that ended in March. Retailers play a part in ensuring consumers get what they’re paying for. Although it can be difficult to track every manufacturer’s claim, retailers have a responsibility to take action promptly when they suspect dishonesty, said Erdem."
November 18, 2016
Excerpt from WalletHub -- "I would strongly encourage consumers to read the 'fine print' on these deals. Some will say the deal is only good for the specific model (stock keeping unit or SKU), and the deal is only good for existing stock. Some may say you can get a "rain check" for when they come back in stock."
Professor Anindya Ghose discusses the future of mobile marketing, from his book, "Tap: Unlocking the Mobile Economy"
November 16, 2016
Excerpt from Knowledge@Wharton -- "Mobile marketing is a powerful approach. Other forms of advertising... can't really come close to matching. But the reality is, in the digital world, a lot of folks find advertising on mobile devices annoying or intrusive and they strongly dislike these ads that ruin their browsing or consumption experience. But the reason this happens is twofold. One is: brands don't have enough information about consumer preferences, so they're showing them a bunch of ads, like throwing darts in the air, hoping one will stick. But in return, what happens is people get overwhelmed and annoyed by those offers and they tune out. So the solution here is figuring out an optimal balance where the number of offers should be less frequent than what it is right now and should be more relevant and targeted. And that's where I ... talk about this two-way communication between consumers and brands. If consumers are able to share more information about themselves, then brands are going to be able to use mobile as a concierge and as a butler, but not as a stalker."
Excerpt from MIT Technology Review -- "'Pure-play Web retailing is not sustainable,' New York University marketing professor Scott Galloway told me. He points out that the deep discounting and high delivery costs that characterize Web sales have made it hard for Amazon to turn a profit. If Amazon were to remain an online-only merchant, he says, its future success would be in jeopardy. He believes the company will end up opening 'hundreds and then thousands of stores.'"
November 9, 2016
Excerpt from The Washington Post -- "'He’s built this enormously resonant brand with what I’ll affectionately call angry white males. It’s not only a big market, but it appears to be growing,' said Scott Galloway, a professor of marketing who teaches brand strategy at New York University, on Tuesday. 'But his current product offering caters to affluent, fortunate and relatively happy people. And as a general rule, the affluent are mildly horrified by the current trajectory of the Trump brand.'"
November 7, 2016
Excerpt from WIRED -- "New York University management professor Anindya Ghose suggests that the best way forward might be for a large company to acquire Twitter and then sell shares to a new co-op, creating a sort of hybrid model."
November 4, 2016
NYU Stern's marketing department hosted a conference as part of the NYU Stern/CBS Media Analytics Initiative.
Professor Jeffrey Carr shares his views on venture capital firm Village Capital's peer-selection business model
November 1, 2016
Excerpt from OZY -- "Simply because someone started a successful company in a certain industry does not mean that they can replicate that, or that they can identify it in somebody else.'"
October 27, 2016
Excerpt from The San Francisco Chronicle -- "'It does have a very powerful niche, and it’s a distinct player in that niche,' said Anindya Ghose, a professor of information technology and marketing at New York University’s Stern School of Business. 'Live (video) is a potential game changer that actually put Twitter ahead of the curve. ... TV is finally everywhere, and this plays into that larger ecosystem and gives them some good numbers to bank on.'"
October 27, 2016
Excerpt from The Wall Street Journal -- "'If Vine was housed inside a company that was growing at 30% a year…it would have survived,' said Scott Galloway, founder of consumer-brand research firm L2 Inc. and a marketing professor at New York University. For Twitter, 'not growing its user base, a part-time CEO and disgruntled investors—all of that adds up to forced focus.'"
Excerpt from Entrepreneur -- "'What successful companies—for example, Amazon—do is to constantly search for something better for customers,' says Jeffrey A. Carr, a professor of marketing and entrepreneurship at New York University’s Stern School of Business."
Professor Priya Raghubir comments on the rise of mobile apps like Venmo and the decline of the personal check
October 25, 2016
Excerpt from MEL -- "...Raghubir doesn’t think checks will ever go entirely extinct. While it’s technically feasible to make all payments electronically and in cash, she says, some people will cling to checks out of pure habit, tradition or ease. Besides, she adds, 'I could not personally imagine going and giving a wedding gift to a friend of mine through a Venmo transfer. I would also feel embarrassed putting cash into an envelope. To me it would be odd.'"
Excerpt from the Associated Press -- "'In the short run, business gets damaged, but in the long run there's a lot of opportunity with less aspirational brands that target the middle- and lower-class,' NYU's Galloway said. 'I think the Trump brand effectively dies in a Manhattan, but it thrives in some of the lower income, very red regions.'"
Professor Scott Galloway compares Yahoo's acquisition of Verizon and AT&T's acquisition of Time Warner
October 24, 2016
Excerpt from Bloomberg -- "This feels like a 'bet the ranch' strategy. If Yahoo doesn't work out, it's a rounding error for Verizon and people forget about it. AT&T really is: 'We're betting on content. We're going for something that's very aggressive that has a decent chance of regulator pushback.' This is a game-changing transaction."
Excerpt from MarketWatch -- "Millennials are a 'non linear' generation, says Galloway. 'They want what they want, when they want it. Especially media,' he says. 'They want to consume media on their own terms.' They hate the idea of letting networks or cable companies decide when a movie or sitcom is available. The investment play here? 'Netflix is the brand that embodies this trend,' says Galloway."
Excerpt from Bloomberg -- "I think of this sort of as the Millennial merger. That is, what do Millennials want? They want content that is so outstanding that it doesn't need to be supported by advertising that they can consume it in a nonlinear fashion. And the distribution is simple: It's on a mobile device. And this merger would bring those two together. I actually like this a lot. I think these two companies together would be a juggernaut."
October 19, 2016
Excerpt from Marketplace -- "Samuel Craig, director of NYU Stern’s Entertainment, Media and Technology program said online content producers have a big leg up when it comes to building and keeping audiences. 'Netflix’s advantage and Amazon’s advantage is that they’ve got lots of consumer data that give them insight into what people want to see,' he said."
In an in-depth interview, Professor Anindya Ghose shares insights from his research on mobile marketing in China, targeted advertising, the future role of big data and his forthcoming book on the mobile economy
October 18, 2016
Excerpt from CKGSB Knowledge -- "One of the things we found is that mobile coupons actually have the highest redemptions from the highest income group. ... This is very interesting because mobile marketing has often received some flak that it's not very profitable because it only attracts the lower income customers, but what we are seeing is that the highest income customers have the highest redemption probability."
October 13, 2016
Excerpt from ABC News -- "Ghose said that to restore trust with consumers, the company would have to recall all of the defective phones (a process it has started), pinpoint the cause of the problem, fully reimburse consumers and convince its business partners 'to give it another shot with the next set of product releases.'"
Professor Scott Galloway comments on the omission of Yahoo's security breach from its September 9 SEC filing
October 11, 2016
Excerpt from The Washington Post -- "Scott Galloway, a professor at New York University’s Stern School of Business, said Mayer probably relied on her legal counsel to vet the document rather than reviewing it herself. 'However, CEOs are ultimately accountable for what’s in the proxy,' he said, 'if it comes out that their lack of transparency was a function of them not wanting to hamstring the Verizon deal, then they've held material information back from an acquirer.'"
Excerpt from The Chronicle of Philanthropy -- "Fundraisers often suggest gift amounts to help guide donor decision-making. A new study on this practice, known as anchoring, suggests that low anchors may drag down giving more than high ones bring it up. Charities must find a balance when suggesting donation amounts, says Minah Jung, an assistant professor of marketing at New York University and an author of the study."
Professor Anindya Ghose shares his views on Google’s launch of Pixel smartphones and the Android operating system
October 4, 2016
Excerpt from WIRED -- "'It is well known that Android can be much better optimized than what it is today,' says Ghose. 'By controlling the hardware, Google can dramatically improve the reliability and consistency of the user experience on Android phones.'"
October 2, 2016
Excerpt from The New York Times -- "'Amazon is the accidental winner here,' said Scott Galloway, a professor of marketing at the Stern School of Business at New York University. 'Amazon got there first, which is superimpressive, and it has been a huge hit.'"
Professor Alixandra Barasch provides perspective on how Instagram influences the way companies do business
September 29, 2016
Excerpt from MEL -- "'Awareness is going to be positive [for businesses], but there could be other unintended consequences,' [Barasch] says. 'I just suggest that they also think about the downsides that come when you know you’re at the top of the ski slope and you’re thinking about how to get that photo.'"
September 23, 2016
Excerpt from AFP -- "Although the public has become habituated to news about data breaches, this news may erode confidence in the online ecosystem, according to Galloway. 'The hacks are more damaging to the ecosystem than individual companies,' he said. 'Ms. Mayer's obscene compensation and the hack give people the sense the game is rigged and that they can trust no platform.'"
September 21, 2016
Excerpt from Poets & Quants -- "'I’m just surrounded by energy and students who are excited about being at NYU,' says Barasch, who will teach a core Introduction to Marketing course to undergrads in the spring. 'But the real draw was Stern’s Marketing Department. It’s top-notch. It has some of the best researchers, the most published and well-known names.'"
September 21, 2016
Excerpt from The New York Times -- "'You can be a pioneer in the market and get surpassed by other things,' Professor Greenwald said. 'I think that’s partly what’s happening to them — their food safety problems coincided with all these new concepts like Cava Grill and Sweetgreen.'"
September 19, 2016
Excerpt from Livemint -- "The problem with loyalty programmes is that there are too many of them, they are undifferentiated (i.e. the benefits are similar so they don’t offer unique benefits), and difficult for consumers to use with some exceptions like airlines and hotels. The best way for companies to build loyalty is not through gimmicks but by investing in their brands by constantly innovating and offering clear value propositions to their target audiences."
Excerpt from The Atlantic -- "'Consumers are jaded about advertising in a way they weren’t several decades ago,' says Adam Alter, an associate professor of marketing at New York University’s Stern School of Business, via email. 'It is harder to appeal to them than it used to be, and they tend to see through overt marketing pitches.' That has in turn led to a new arsenal of branding tactics. 'Companies have had to learn subtlety,' Alter says."
September 7, 2016
Excerpt from Marketplace -- "The release of a seemingly lackluster version could also end up benefitting Apple in at least one way, according to Anindya Ghose, a professor of information technology at NYU’s Stern School of Business. 'It’s a very smart experiment by Apple to test the true extent of their loyal base,' Ghose said. 'Sometimes, in the long scheme of things, these price experimentations are a great way for a company — even as brilliant as Apple — to be able to infer market appetite for future renditions of the same product.'"
September 2, 2016
Excerpt from Universities.com -- "[Our] location within New York City and our Global Network are truly the two factors that differentiate our program from that of other schools. New York City [is] a hub for marketing and advertising, and as such there is ample opportunity for students to find internships or careers."
Excerpt from Mic -- "'Addiction always reflects an underlying psychological need that isn't met,' New York University's Adam Alter, author of the forthcoming book Irresistible: the Rise of Addictive Technology and the Business of Keeping Us Hooked, told me in an email. 'For some people, that need is social validation; for others it's confirmation that they're attractive; and for others still it might be a sense of mastery over the environment when they feel helpless or powerless.'"
Excerpt from the Financial Times -- "Dunning and Kruger set tests of grammar, logic and even having a sense of humour to a group of undergraduates. Then they asked them how they stacked up to others in the group. Was their grasp of logic and grammar better or worse than average? Were they better able than other students to distinguish funny from unfunny jokes?"
August 25, 2016
Excerpt from The Detroit News -- "'Amazon is the great white shark of retail and its appetite is not that discerning — it will eat anything,' said Scott Galloway, professor of marketing at New York University’s Stern School of Business. 'I think they’ll go after every large consumer category. It’s not if, it’s when.'"
August 17, 2016
Excerpt from Luxury Daily -- "'Considering that British brands have been doing well in the United States, a trend that has grown stronger in the last five years and perhaps will counteract the consequences of Brexit, it is no accident that Victoria Beckham enjoys a positive brand equity in the American market,' [Serdari] said. 'With playful Instavideos being released through Victoria Beckham's Instafeed almost a month before her collection hits the stores the celebrity designer can certainly drive interest in her new, stylishly packaged beauty collection.'"
Excerpt from Yahoo News -- "Adam L. Alter and Hal E. Hershfield from New York University and UCLA, respectively, found across six studies that at the end of a decade, people become more preoccupied with aging and worries about life’s meaningfulness. The researchers said that such thoughts lead to behaviors that 'suggest a search for, or a crisis of meaning.'"
August 9, 2016
Excerpt from Reuters -- "You can still make money in exhibition, and the way to do it is to enhance the experience. More luxurious seating and food and alcohol all enhance the experience and also attract a difference audience."
Professor Alvin Lieberman explains why some athletes use crowdfunding to cover their expenses for the Olympics
August 4, 2016
Excerpt from Fortune -- "Large companies often pay tens of millions of dollars simply to show the Olympic rings insignia on their particular products in the run-up to the games and after, says Alvin Lieberman, clinical professor of marketing entrepreneurship and innovation at New York University’s Stern School of Business. ... Crowdfunding can be a good alternative to running up expenses they can’t pay for. 'It is a very good place for athletes to go and for people to connect,' Lieberman says."
August 3, 2016
Excerpt from Forbes -- "'Facebook is very worried about Snapchat,' said NYU marketing professor Scott Galloway. 'Facebook is used to owning social media, and not being the hottest girl on campus has them a little freaked out.'"
In an op-ed, Professor Michelle Greenwald highlights key takeaways from two award-winning marketing campaigns
July 28, 2016
Excerpt from Forbes -- "Both Reggie Award winning examples illustrate how insightful, strategic and innovative activations, that are original and very different from anything ever done before, can massively impact awareness, willingness to try, brand perceptions, and earn extensive target audience amplification: all by capturing imaginations, creating a sense of awe and evoking positive emotions. Both also highlight the benefits of thoughtful, strategic partnerships to cost effectively amplify what brands can achieve on their own."
Excerpt from Marketplace -- "Anindya Ghose, a business professor at the NYU Stern School, has been following Apple in China and in India, where Apple's sales growth was strong this quarter. 'I’m very optimistic and bullish about Apple’s future proliferation in India,' Ghose said."
Excerpt from The New York Post -- "'What they really could do with is a campaign that clearly articulates Twitter’s unique selling point' versus rivals like Facebook, says Anindya Ghose, a professor at NYU’s Stern School of Business."
Excerpt from Bloomberg -- "This is over. They'll give her peace with honor. Let her leave gracefully. But this is a series of botched acquisitions, severance payments to employees who were there for 14 months in excess of $100 million. A decrease in EBITDA of 50%, a decrease in revenues of 20%, and in exchange she's walking out the door with a quarter of a billion dollars. I think this kind of thing is the reason why people lose faith in corporations. So best of luck to her. But this is the end of her reign, I believe, at Yahoo."
July 22, 2016
Excerpt from The Washington Post -- "'It became a cash cow for them and generated lots and lots of revenue,' said C. Samuel Craig, director of the entertainment, media and technology program at New York University’s Stern School of Business. 'And then it slowly began to disappear, and it was supplanted by the DVD.'"
Excerpt from Luxury Daily -- "'Gucci has moved from a fashion to a lifestyle brand,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York. 'The new line of jewelry and watches is featured in this new campaign individually as precious accents that dot the backdrop of the Gucci world.'"
July 20, 2016
Excerpt from the Financial Times -- "'Some people have been surprised at what Jeff has been able to accomplish at a difficult time for CNN,' says Al Lieberman, a professor who worked for Mr Murdoch in the early 1990s. 'Don’t be surprised if Murdoch turns around and talks to a guy like Zucker.'"
July 19, 2016
Excerpt from Financial Times -- "'[Rupert] doesn’t deviate much … the stance is we’re winning and it’s not broken, so don’t fix it,' said Al Lieberman, a professor at New York University who worked for Rupert Murdoch from 1985 through 1993."
Excerpt from Fast Company -- "In one experiment led by psychologists David Dunning and Justin Kruger, participants were asked to rate their abilities and offered a monetary reward if they were able to assess themselves accurately. In spite of that motivator, though, people still overestimated their skill level considerably. Try as we might, it appears many of us assume we're more competent than we are simply because we aren't aware of what we don't know. Even unintentionally, our own ignorance compounds."
July 14, 2016
Excerpt from US News & World Report -- "The excitement around Tesla, its brand, and its enigmatic, Tony Stark-like leader create more than just intangibles and billionaires talking their book, says Scott Galloway, founder and chairman at L2 Inc., a leading intelligence firm that benchmarks overall brand performance. 'You could argue that Tesla has access to the cheapest capital in the history of the automobile industry … it makes sense from a capital allocation standpoint' to take on expensive endeavors like the gigafactory. Galloway points to Tesla's price-sales ratio, which is 7.8, and notes that General Motors Co.'s (GM) P/S is a mere 0.3, making secondary offerings a less attractive way to raise money."
July 13, 2016
Excerpt from mbaMission -- "As one first year we interviewed said of his experience at Stern, 'So far, the most impressive class has been "Marketing" with Jeff Carr,' adding, 'He's super engaging and makes you think more about the consequences of your actions in marketing than simply teaching you the tools. The class structure is very informal, but all of the students are learning a ton.'"
Professor Samuel Craig comments on the entertainment industry landscape in the wake of AMC's acquisition of Odeon
July 13, 2016
Excerpt from the Financial Times -- "Others caution the world of entertainment has changed dramatically, threatening the perceived safety of movie attendance. With the advent of digital streaming sites such as YouTube and Netflix, 'there are simply more options for people these days', said Sam Craig, a professor at NYU Stern."
In an in-depth interview, Professor Scott Galloway discusses his career path, messaging in the digital age and entrepreneurship
July 12, 2016
Excerpt from Radiate with Betty Liu -- "The bottom line is, the key to being an entrepreneur is you are more risk aggressive than anybody else. You are willing to sign the front of a check to go to work, not the back."
Excerpt from Fortune -- "Williams says that while the key things all entrepreneurs need are mentorship and access to financing, both of which 10,000 Small Businesses provides, he adds that if entrepreneurship programs really want to create job growth, they need to focus on helping so-called disruptive, young businesses that tend to add jobs more quickly. The Goldman program, he says, focuses more on creating incremental growth. The median age of its business is 12 years old, which puts them a good distance away from startup territory."
July 6, 2016
Excerpt from Quartz -- "'I don’t believe the Indian market will be able to sustain two big domestic players and one big international player,' said Anindya Ghose, director of New York University’s Center for Business Analytics. 'In about three years, I believe, the Indian market will have to consolidate into one international and one domestic player. So it will be Amazon, and either Flipkart or Snapdeal.'"
Excerpt from Business Insider -- "In this case, according to Galloway, Tesla did three things right:
It acknowledged the problem in a blog post on its website Thursday.
Had the top guy address the matter head-on.
And it overcorrected; reiterating Autopilot's limitations, and reminding drivers to stay alert, even with the feature activated."
It acknowledged the problem in a blog post on its website Thursday.
Had the top guy address the matter head-on.
And it overcorrected; reiterating Autopilot's limitations, and reminding drivers to stay alert, even with the feature activated."
Professor Scott Galloway discusses the future of driverless cars in the wake of a fatal crash involving a Tesla on autopilot
June 30, 2016
Excerpt from the Los Angeles Times -- "'Unless statistics show this is not only as dangerous but more dangerous than traditional modes of driving, I don’t think you’re going to see a slowdown' in using the technology, [Galloway] said."
June 30, 2016
Excerpt from Luxury Daily -- "'John Lobb is a brand whose DNA relies on the one-on-one relationship between the craftsman and the customer,' Ms. Serdari said. 'It is the tacit knowledge John Lobb’s craftsmen have about the brand’s customers from doing bespoke order after bespoke order that gives them that extra confidence in manipulating the materials.'"
Professor Vicki Morwitz's comments at the 38th INFORMS Society for Marketing Science Conference in Shanghai are highlighted
June 27, 2016
Excerpt from Shanghai Daily -- "'Firms need to have very active customer service, and departments need to be very engaged with social media,' Morwitz argued."
Excerpt from the Harvard Business Review -- "On average, those who underrated their skills were above average in their overall coaching effectiveness (reaching the 57th percentile). Those who had overrated themselves, however, were significantly below average, reaching only the 32nd percentile. ... incompetent people fail to recognize their own deficiencies and don’t recognize the skill in others. The lower an individual is on any scale of measurement, the more out-of-touch they tend to become."
Professors Scott Galloway and Stijn Van Nieuwerburgh weigh in on Donald Trump's real estate dealings
June 22, 2016
Excerpt from Yahoo Finance -- "'Owning a hotel is a terrible business,' says Scott Galloway, a marketing professor at New York University’s Stern School of Business. 'Licensing your name and taking a portion of the proceeds is a great business.' ... 'What really jumps out at me is how asymmetric the [Trump Tower Tampa] contract is,” says Stijn Van Nieuwerburgh, director of the Center for Real Estate Finance Research at the Stern School. 'Trump has very little contractual obligation and a lot of rights.'"
Research by Professor Adam Alter and Alumna Eesha Sharma (PhD '13) on financial insecurity and deprivation is featured
June 20, 2016
Excerpt from Strategy + Business -- "...when people believe others are better off, they want things they think those other people don’t have. However, when the items are less available because their peers already have them, it diminishes the ability for these items to offset the relative imbalance in resources, and the effect goes away."
Professor Samuel Craig discusses the temporary outage of HBO Now during an episode of "Game of Thrones"
June 20, 2016
Excerpt from Marketplace -- "'There's a big social element to it,' said Sam Craig, a professor of marketing at the NYU Stern School of Business. 'You want to see it, because you've got friends that watch it, and you want to be able to talk about it. You want to be in the know.'"
June 17, 2016
Excerpt from CNBC -- "As Professor Scott Galloway of NYU says, 'Advertising is increasingly a tax that poor people or the technologically unsophisticated pay,'..."
Stern's joint research initiative with CBS on media analytics is highlighted; Professor Henry Assael is quoted
June 15, 2016
Excerpt from Broadcasting & Cable -- "'We are glad to partner with CBS on this exciting research initiative,' Assael said in a statement. 'As cross-platform exposure to television shows has increased, "watching TV" has taken on a whole new meaning that has important implications for the media industry and our society that are worthy of serious research.'"
In an op-ed, Professor Michelle Greenwald highlights six effective uses of virtual reality in marketing
June 15, 2016
Excerpt from Forbes -- "Virtual reality is one of the latest technologies marketers are trying to wrap their heads around to figure out how to best utilize the tool to achieve brand objectives. While we’re only at the tip of the iceberg in terms of impactful ways to use VR for marketing, several pioneers have found creative ways to do it well and support their unique value propositions."
Professor Alixandra Barasch's co-authored research on the connection between taking photos and enjoying experiences is featured
June 10, 2016
Excerpt from Yahoo Tech -- "Watching moments unfold through a viewfinder may seem like a narrow, distracted point of view, but a new study suggests otherwise. People who take photos of their experiences actually enjoy them more, according to a study published by the American Psychological Association."
June 9, 2016
Excerpt from Marketplace -- "Russell Winer a professor of marketing at NYU’s Stern School of Business, said diners like to feel like they’re in charge, and taking the tip out of their hands — literally — may not make them feel at ease. 'People like the discretion,' he said. 'They like the separation of the tip from the meal because it gives them the opportunity to reward excellent service and penalize terrible service.'"
Excerpt from Christian Science Monitor -- "'Australia has been using the same brown packaging for some time, and a review of two dozen studies showed that it deters smoking – and also seems to make the cigarettes taste worse, which was an unexpected side-effect of the repackaging,' Prof. Alter writes. 'A cigarette that comes from an ugly brown box will, similarly, seem less appealing for the same reason. We associate that brown color with so many negative substances and ideas that the cigarette comes to take on those negative associations as well. I certainly think it should be tried in America.'"
June 8, 2016
Excerpt from the Financial Times -- "NYU’s Prof Raghubir says there are good reasons to cut brand spend when the going gets tough: 'You probably don’t want to be investing too heavily at a time when a greater mention of your brand is only going to backfire and remind people that you exist, when you’re trying to just weather a crisis.'"
Excerpt from the Financial Times -- "'Brands shouldn’t change their name for the sake of being hip,' said Tülin Erdem, a marketing professor at New York University’s Stern School of Business. She said 'it seems like [Tribune] is acting very quickly without strategic focus to change the name.'"
Professor Thomaï Serdari comments on the Diamond Producers Association's advertising geared towards millennials
June 2, 2016
Excerpt from the Financial Times -- "'Brands need to create a story that feels authentic to a consumer who has been overexposed to traditional advertising messages,' [Serdari] says."
Excerpt from The Atlantic -- "Galileo versus the Church, for fueling the myth that science and religion are natural enemies. But the universe doesn’t become less spiritual as we understand it better; in fact, the poetry in scientific truths flourishes with deeper understanding."
May 30, 2016
Excerpt from The Wall Street Journal -- "Jacob Jacoby, a marketing professor at New York University, said Coke could face a high bar if it challenges beverage companies’ use of 'zero' in court after not demonstrating consumer confusion in the case of Diet Rite Pure Zero."
May 25, 2016
Excerpt from Marketplace -- "'If Goldman is a giant face-sucking squid then Google and Facebook are Predator and Alien,' said Scott Galloway, a professor of marketing at NYU’s Stern School of Business. Both Silicon Valley and Wall Street are made up of powerful companies focused on shareholders. So both should fall under the same scrutiny, said Galloway."
May 23, 2016
Excerpt from Forbes -- "To increase casual interactions, everyone enters on the 12th floor. The first impression to hit you is the positive and productive energy—people seem genuinely happy. At the center of the top floor is a café and cafeteria, in some ways the heart of the office, with tables scattered around for drinking, eating, and impromptu meetings. Thirty screens mounted high around the center perimeter feature photos of the talent teams that work on each account, rotating along with client names and creative work highlights."
Excerpt from Business 2 Community -- "There’s a phenomenon known as the illusion of explanatory depth, and the idea is that there are certain things that we assume we understand much better than we do. If you ask someone how well can they can explain how a bicycle works on a scale of one to ten, people will between an eight and a ten out of ten."
Excerpt from the Financial Times -- "'This is a bold move. It’s a bit like if Apple changed its name to "innovation", because one of the core associations of (Budweiser) is already America,' said Scott Galloway, a professor at New York University. 'It could be a stroke of genius, but I think it’s a risky change … to what is arguably one of the world’s greatest brands.'"
Excerpt from Quartz -- "'Startup devaluations…can be a blessing in disguise, in the sense that it makes the company leadership take a close hard look at the current monetisation model, re-evaluate any fragilities and make strategic and tactical adjustments accordingly,' Anindya Ghose, director of New York University’s Center for Business Analytics said."
Excerpt from CNBC -- "'In my academic research and industry consulting, I have seen tremendous benefits accruing to firms, organizations and consumers alike from the use of data-driven decision-making, data science, and business analytics,' Anindya Ghose, the director of Center for Business Analytics at New York University's Stern School of Business, said."
Excerpt from Seeking Alpha -- "In a study done by Masakazu Ishihara from New York University, it was found that as the price of new games increased, the average profits per game would fall by 10% while if title prices decreased, the average profits per game actually increased by 19%."
May 4, 2016
Excerpt from Fashionista -- "'These are difficult, complicated and costly logistics businesses,' says Lawrence Lenihan, cofounder and co-CEO of fashion-focused venture operating firm Resonance Companies. 'Their customers love them for convenience and selection, but I'm not sure that there is a profitable sustainable business at the end of the journey. They seem to be trying to emphasize the high end of the market with watches and jewelry because the margins are the highest and the logistics cost per contribution margin are the lowest. But then they are [facing] a whole host of competition, including the brands themselves who have the credibility of physical presence along with new products.'"
Excerpt from Racked -- "'Luxury brands cannot "cheapen" their brands by frequent discounts and price promotions,' says NYU professor of business and marketing Tülin Erdem. 'It is inconsistent with their brand identity since if they do so their brand equity will be diluted. Most luxury brands have a sense of exclusivity and reflect a unique style, [and] too many people using these [discounts] will damage exclusivity and uniqueness.'"
Professor Vicki Morwitz comments on the increased attention surrounding retailers' deceptive pricing tactics
April 28, 2016
Excerpt from Consumer Reports -- "For such illegal sales to stop, the regulations that govern sale prices will have to be improved—a slow process since pricing is regulated at the state level. Meanwhile, though, all the bad publicity and penalties could cause merchants to tone down their marketing tactics, says Vicki G. Morwitz, a marketing professor at New York University’s Stern School of Business."
Excerpt from Quartz -- "Given India’s price-sensitive buyers, there are high chances of online retailers losing customers once discounts are discontinued. 'If they do not offer deep discounts, Indian consumers will switch back to offline retailers, which seem to be always on sale,' Ghose of New York University said. 'I do not think this cultural behavior of the average Indian consumer will change even with a substantial increase in the average disposable income in India.'"
April 28, 2016
Excerpt from The Wall Street Journal -- "One challenge is to break down your expenses according to whether they are ordinary and recurring or exceptional and unusual, says Mr. Alter. 'What you’ll start to notice is that so-called exceptional expenses account for a large chunk of your budget,' and need to be acknowledged as recurring spending, he says."
Professor Anindya Ghose explains how the sale of Oculus to Facebook has impacted the future of crowdfunding
April 20, 2016
Excerpt from CrowdFund Beat -- "'In the future, donors will be a lot more circumspect and skeptical about putting in money, especially in projects where they could have even an inkling of an idea that this might be bought out by a tech giant like Google, Facebook, or Apple,' says Anindya Ghose, a professor at New York University who studies the crowdfunding sector. 'They do not believe in backing projects for financial, commercial reasons. For them it’s a lot about a cause or altruism.'"
Excerpt from Bloomberg -- "... In terms of bidding, the odds [favor] Verizon because Verizon can afford to overpay $105 million; 105 million handsets plus the assets of AOL and Yahoo. You're looking at what can be the largest mobile network in the world. … The epicenter of growth around media is mobile advertising. So Verizon can probably come in and spill a billion or two billion bucks to get this thing over."
Watch the video
Watch the video
April 19, 2016
Excerpt from Luxury Daily -- "'For a fashion house, jewelry collections are brand extensions,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, Co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York. 'These allow the brand to reach out to a broader audience whose interests are not focused on fashion exclusively and incentivize existing customers to spend more on brand extensions,' she said. 'While brand extensions may be priced to move the brand lower in the pyramid of luxury brands, in the case of Dior, its line of high jewelry is intended to reinforce the luxury status of the fashion house. In that sense, Dior’s jewelry collections are complementary to the creations of its fashion lines.'"
April 12, 2016
Excerpt from Forbes -- "Selections are made by a team that includes both store buyers and MoMA curators. Both perspectives are important because the Store is considered as an integrated extension of the Museum that reflects the organization’s design philosophies."
Professor Lawrence Lenihan discusses the future of luxury retail at the French-American Chamber of Commerce Symposium
April 7, 2016
Excerpt from Women's Wear Daily -- "'It will be the end of the billion-dollar brand. By trying to mean something to more people, the luxury brand [actually] means less to [everyone],' he concluded. That thought is predicated on the view that luxury is about having something that no one else has, even though that inherently also means fewer sales. 'Shifting from large megabrands to small specific brands will disrupt every facet of the fashion industry,' Lenihan concluded."
Professor Scott Galloway discusses the impact of the FBI breaking into a secured iPhone on the Apple brand
April 1, 2016
Excerpt from Associated Press -- "Scott Galloway, clinical professor of marketing at NYU Stern School of Business, said Apple risked public sentiment turning against the company as people became more informed about the case, and particularly if Apple lost. For now, he said, 'the line isn't going to be any shorter for the iPhone because the FBI in concert with a third party figured out a way to hack into one phone. I haven't heard anybody say "That's it, I'm switching to Samsung."'"
March 31, 2016
Excerpt from CNBC -- "In creating opportunities for businesses to reach consumers directly, Ghose points out that social media has also created opportunities for a wide range of job seekers. He said there is a need for graphic designers who create a platform's look, a need for security specialists who ensure data is protected, a need for app developers for mobile sites and a need for data scientists who mine the platform's data to parse clients whims and wishes."
March 31, 2016
Excerpt from The New York Times -- "Scott Galloway, a professor of marketing at New York University’s Stern School of Business, said Amazon would one day go even further by analyzing customer shopping patterns and proactively sending people replenishments of common household items. 'I think that’s where this is all headed,' he said. 'I will get a box once a week with stuff they figure I need.'"
Excerpt from TopMBA -- "'The financial results of companies that operate in the luxury sector have piqued MBA students' interest. Many more people wish to understand why is it that these companies can weather most financial crises practically unscathed,' reflects Thomaï Serdari, a professor specializing in luxury brands at NYU Stern. She notes that after the school introduced the specialization, there was increasing interest in high-end product development across the board – quality and prestige, it seems, will always out."
– Faculty News
March 30, 2016
Excerpt from The Washington Post -- "Scott Galloway, a professor at NYU's Stern School of Business, said that tech companies 'age in dog years, so the founders are usually still alive. By the time a [consumer-packaged goods] company goes through maturity and decline, they're talking to the grandkids. Some of it is just the pace of the lifecycle.'"
In an op-ed, Professor Michelle Greenwald highlights three different accelerators and their offerings to mentees
March 24, 2016
Excerpt from Forbes -- "Accelerators serve an important need for startups that may have great, viable ideas but lack the diversity of expertise to pull them off and maximize their potential. Accelerators serve important roles for existing companies, infusing them with new perspectives, an entrepreneurial spirit and providing cutting-edge learning through mutual problem solving."
Excerpt from Marketplace -- "[Alter] said plenty of people want to leave reviews, 'especially if they're really really happy or really really unhappy.' Alter said companies use this feedback in different ways. 'So some will just use the numbers as a threshold just to help them make very broad personnel decisions,' Alter said 'Others might even tie compensation to the numbers.'"
March 18, 2016
Excerpt from Christian Science Monitor -- "The 2011 film 'The Adjustment Bureau,' which combined aspects of a thriller and a romance, was marketed using separate trailers aimed at women and at men, write Al Lieberman and Patricia Esgate in their 2011 book 'The Definitive Guide to Entertainment Marketing.' 'The trailers were accurate in their use of footage from the film but simply focused on the action and drama for the male audience and made the romantic scenes more prominent and expansive for the female audience,' they write. 'Neither audience was disappointed because both were satisfied by the story, content, and elements each was seeking.'"
Excerpt from Bloomberg -- "I think they're really trying to squeeze this turnip as hard as they can, right? Little too big, little too small. But this is basically the iPhone 5 with updated components, and a lot of people like the small phone. So it makes a lot of sense. It's evolutionary, not revolutionary. But they'll get incremental profits and margins because this is arguably the first tech product in history that its margins have expanded as it's matured. People still love the iPhone."
– Faculty News
In an op-ed, Professor Joost Van Dreunen argues that subsidizing Internet access will not remedy economic inequality
March 16, 2016
Excerpt from Fortune -- "...it’s a tempting proposition: For only a few billion dollars, we can bring broadband connectivity to poor families, providing them with no less than an improved chance in life. The ultimate answer, of course, is more complicated. And it is a mistake to think that mere access to the Internet is going to close the gap between rich and poor."
Excerpt from OZY -- "Today, InMobi comes up as the kind of company Google might buy, though Google declined to comment. 'It would be good for Google,' Ghose says, adding that InMobi is 'a bit away' from being true competition for Google or Facebook. For InMobi to wear the big-kid shoes in its own right, Ghose figures it’d want to ace the data game, getting access to really 'fine-grained' data about user preference."
Excerpt from Eater -- "Restaurants drawing down-the-block-lines is not a new phenomenon. 'Humans move in herds,' says Adam Alter, a behavioral economist and marketing professor at New York University Stern School of Business. 'When one or two influential people — or a larger number of everyday people — flock to a product, their endorsement suggests to other people that the product is worth pursuing.'"
Excerpt from Luxury Daily -- "'This is a different kind of transparency,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, Co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York. 'It is not about the heritage or artisanship of the brand (one takes these for granted) but rather about the creative process of designing new objects for Petit h, all of which are crafted with discarded materials from the parent brand, Hermès.'"
Excerpt from New York Magazine -- "Many memory researchers believe in the so-called 'end effect.' When we evaluate something that happened to us, the thinking goes, the final moments of it are disproportionately influential. ... But a new study suggests it might not be. Writing in the Journal of Experimental Psychology: General, doctors Stephanie Tully of the University of Southern California and Tom Meyvis of New York University present a set of experimental findings that, taken together, suggest the end effect may not be real."
In an op-ed, Professor Adam Alter explains why Donald Trump's detractors won't likely move to Canada if he is elected
March 2, 2016
Excerpt from The Washington Post -- "Why do so many disgruntled voters threaten to leave the country, only to see so few actually follow through? Because people overestimate how much pain they’ll feel when they experience a dreaded outcome."
March 1, 2016
Excerpt from HousingWire -- "'If you’re only embracing incremental change, instead of disruptive change, your path becomes narrower and narrower. By the time you’re at the end of that path your customers have forsaken you.' Williams cited the example of Blockbuster — wildly successful at the time — shunning the idea of Netflix when they were presented with it. And Blackberry, the symbol of success a few years ago, now akin to the Motorola brick phone."
Excerpt from WFPL -- "Disruption and innovation, it's not another transient measurement fad. It's what drives economic growth. So if you don't innovate, if you don't disrupt, you can't grow."
February 26, 2016
Excerpt from Marketplace -- "Scott Galloway, a marketing professor at the Stern School of Business at NYU, said it's clear what Uber needs to do in response: First, acknowledge what happened. Second, make sure it's the company's top person, the CEO, who publicly addresses the issues. 'The third is you have to over-correct,' Galloway said, 'They have to announce immediately a serious of additional screening tools that they're implementing.'"
February 25, 2016
Excerpt from BusinessBecause -- "'I take students on visits to places "off the beaten path" to help them gain an appreciation of hand-made luxury goods,' says Thomaï Serdari, director of the program’s luxury marketing specialization. ... 'NYU Stern gives [students] access to the strongest luxury retail market in the US,' says Thomaï. 'Our network of graduates is global, strong, and renowned for its effectiveness.'"
In an op-ed, Professor Michelle Greenwald highlights Material ConneXion as a supplier of innovative materials and ideas for businesses
February 23, 2016
Excerpt from Forbes -- "Material ConneXion is a resource worth knowing about, as a potentially important partner in product design, interior design, and creative development processes."
February 23, 2016
Excerpt from Luxury Daily -- "'What Chanel is, in other words, is a well-defined brand,' [Serdari] said. 'This is extremely important, not only in the context of the previous 13 chapters that spoke to individual elements of Chanel’s mythology and heritage, but most importantly in the context of today’s fashion world and the challenges a lot of fashion brands face as they try to preserve their heritage while also move into the future.'"
February 19, 2016
Excerpt from Bloomberg -- "I think you're going to see a couple dozen companies bid for this. This is a real asset that's been placed in the wrong hands. ... You have the chairman of the company now issuing press releases discussing their strategy and talking about how they've formed a special committee of the board."
Professor Anindya Ghose's research on the connection between crowded trains and the effectiveness of mobile ads is featured
February 19, 2016
Excerpt from The Daily Mail -- "Depending on location of the subway and the mobile user, people may be shopping for a slew of different items, largely influenced by their setting. ‘People at a crowded restaurant or stadium may focus on food, companions, or a game, rather than the ads,’ says Ghose."
February 19, 2016
Excerpt from Bloomberg -- "There's real value here. I mean, in an environment where one of the most difficult resources to capture is attention, you have an asset that, despite that it's declining fairly rapidly, it still is one of the most trafficked sites in the world. You couple that with tens of billions of dollars sitting on the sidelines from limited partners who want the general partners at private equity funds to put their capital to work. This asset is going to go at, I believe, a higher price than the market is expecting."
In an op-ed, Professor Michelle Greenwald explains the importance of multi-sensory innovation for brands
February 17, 2016
Excerpt from Forbes -- "Many food, beverage, health and beauty aide, retail, furniture and hotel brands have come to the realization that smell, taste, sound, feel, texture, visual image and packaging all combine in the brain to create indelible impressions and enhance experiences. Optimizing them can lead to a 'wow' reaction and make the product, service, hotel or store memorable, buzz-worthy and stand out at the point of purchase."
In an op-ed, Professor Michelle Greenwald highlights HueGroup, a platform that selects colors based on data analytics and that was co-founded by Professor Anat Lechner and alumna Leslie Harrington (MBA ‘02)
February 17, 2016
Excerpt from Forbes -- "HueGroup’s new color platform has the potential to change the way color decisions are made, and there’s really no end to the possibilities of how it can be used. Because it so comprehensively covers all the most important questions about color, it should be a welcome and invaluable resource."
Professor Priya Raghubir evaluates the impact of Paramount's marketing of Zoolander 2 in partnership with the fashion industry
February 12, 2016
Excerpt from Racked -- "By and large, the marketing stunts have served their purposes well. 'It’s really to get people talking and to get the buzz around it going, which provides all that free publicity,' says Priya Raghubir, a marketing professor at New York University’s Stern School of Business."
February 11, 2016
Excerpt from OZY -- "Ola Cabs, India’s version of Uber, has gained an upper hand in the market by allowing consumers to pay in cash; same goes for Flipkart, which allows cash on delivery. 'Society in India loves to touch and feel products,' Ghose says. He figures any new ecommerce venture has some hard work to do in terms of customer attitudes."
February 11, 2016
Excerpt from The Wall Street Journal -- "'When you talk about extreme wealth, you’ll see terms like "sexy" bandied about,' regardless of the product, said Adam Alter, an associate professor of marketing at the New York University Stern School of Business. Luxury products strive for uniqueness, he says, and it makes sense that sales people use impassioned language to set their brand apart."
Professor Scott Galloway discusses how social media has influenced some designers to abandon traditional runway presentations at New York Fashion Week
February 11, 2016
Excerpt from The New York Times -- "'Social media is the laxative of the fashion system,' said Scott Galloway, the founder and chairman of the digital consultancy L2. 'It makes everyone digest everything much faster: trends, product discovery.'"
Professor Luke Williams argues that Twitter needs to build a culture of innovation in order to thrive
February 10, 2016
Excerpt from Bloomberg -- "What I think is going on is there's a cult of personality problem. Basically Jack [Dorsey] wants to be to Twitter what Steve Jobs was to Apple, meaning the founder who comes back to save the company and normally, it's assumed that a charismatic CEO can motivate the rank and file and the rest of the company to innovate. I think it has to be deeper than that. Jack has to actually build a culture where everybody is innovating and contributing."
Professor Priya Raghubir illustrates why Valentine's Day is an important marketing tool for businesses
February 10, 2016
Excerpt from Bankrate -- "'Is it a gimmick? No. Is it a festival which marketers have leveraged relentlessly to make a dime? Yes,' Raghubir says. 'The winter is normally not an ideal time to go shopping because it's cold, it's rainy. People have just had a load of gifts, both that they have bought for others and that they have received. So it's something to try and get them to spend a little more.'"
Excerpt from The Washington Post -- "'Their target audience is narrower than Burger King or McDonalds. In today’s market you have to do that,' said Russell Winer, a marketing professor at New York University’s Stern School of Business. 'Tastes are varied across market segments, you have to think about reaching a narrow audience that will be turned on to your brand.'"
Professor Priya Raghubir shares her views on the ongoing class-action lawsuits against retailers for deceptive pricing tactics
February 5, 2016
Excerpt from BuzzFeed News -- "'I don’t think that the lawsuits are frivolous at all,' Raghubir of NYU said. 'I believe they really put companies on watch. To say, "When you are advertising a regular sale price, we are watching. So be careful before you try, for lack of a better word, to trick us."'"
Excerpt from CNBC -- "'Ten years ago, the focus was on the Super Bowl ad itself,' said Russell Winer, professor of marketing at NYU's Stern School of Business. 'What's changed today is that the buzz prior to the Super Bowl ad, about the Super Bowl ad, and the buzz after the show has tremendously increased the value of Super Bowl advertising.'"
February 5, 2016
Excerpt from BBC -- "Kendall Jenner, who shot to fame thanks to the Keeping Up with the Kardashians reality TV show, has been dubbed the 'ultimate Instagirl' for her huge social media fan base: 48 million followers on Instagram and 15.3 million on Twitter. It was probably this status as the most-followed model on Instagram, as much as her looks or talent, that scored her the top job as the face of cosmetics giant Estee Lauder, says Mr Galloway. 'You're seeing a reshaping of an industry,' he argues. 'My friends don't forward me a picture of a really great air conditioner, but forwarding fashion is fun and interesting.'"
Excerpt from The Washington Post -- "'This is recognition that the future of retail — of which they could likely be the most dominant force — is multichannel,' said Scott Galloway, a professor who teaches marketing and branding at New York University."
Professor Scott Galloway anticipates Yahoo's sale of its core business based on Marissa Mayer's recent statements
February 3, 2016
Excerpt from Bloomberg -- "This is a siren call saying everybody should get out their pencils and if they're interested in Yahoo, to reach out to their banker. But this is fairly explicit, extraordinary behavior for the chairman to say essentially, 'We're for sale.'"
February 2, 2016
Excerpt from Marketing Magazine -- "One reason, says Galloway, is that if you are willing to pay, you can now easily avoid advertising. Sign up to Spotify and you can skip the ads. Buy a pricey iPhone and ad blockers are fitted as standard. Download your favourite TV show from iTunes and you get it without the annoying ads. As Galloway puts it: 'Advertising is becoming a tax only poor people pay.'"
Professor Tom Meyvis discusses new research showing the impact of a company's logo on customer perception
February 1, 2016
Excerpt from Fast Company -- "'It makes sense that the features of your logo are going to have this effect,' Meyvis says. 'It’s what’s called priming—the idea that you prime certain concepts in someone’s mind by showing them something that’s associated with this concept.'"
In an in-depth interview, Professor Luke Williams illustrates the W.R. Berkley Innovation Lab's commitment to cultivating a mindset of innovative entrepreneurship among Stern students
February 1, 2016
Excerpt from Poets & Quants -- "...the real question for students as they go through their education at an MBA program is not, 'Will I have a successful business at the end of this program or am I on my way to an episode of Shark Tank or a big valuation with a VC?' The real question is, 'How many bold new experiments did I get started during my educational journey here?' Those experiments, that constant moving arrangement of ingredients into new recipes to test, is a form of what we often call innovation capital. So it’s treating every idea that you come up with as an item of investment in its own right."
Excerpt from Luxury Daily -- "'The piece that was introduced [at the start of the millennium] was innovative in its symbolism (zero one, the binary code that describes all life and allows it to evolve as well) but safe in its choice of material, a uniform shade of gold,' said Thomaï Serdari, Ph.D., founder of PIQLuxury, Co-editor of Luxury: History Culture Consumption and adjunct professor of luxury marketing at New York University, New York."
January 21, 2016
Excerpt from The Globe and Mail -- "'Every media company in the world has visions of a buy button but it hasn’t worked,' Mr. Galloway says. 'It’s a consumer behaviour thing, when I’m drinking coffee and reading the paper in the morning, I’m not in a buying frame of mind.'"
January 18, 2016
Excerpt for Business of Fashion -- "... Luxury megabrands have not been shy about the opportunity, investing heavily in both their own outlet stores and partnerships with off-price retailers. ... But for brands that rely on marketing their products as exclusive, offering items for up to 50, 60 or even 70 percent less than retail price can seriously undermine the perceived value of their products, says Serdari."
Drawing from his general social survey analysis, Professor Vishal Singh demonstrates bipartisan support for gun control
January 9, 2016
Excerpt from CNBC -- "'Although public opinion fluctuates based on political, religious, and other demographics and in response to major mass shootings or presidential politics, there appears to be a majority bipartisan desire to establish certain level of gun control — at least as measured by response to the question in the GSS,' said Vishal Singh, a professor at New York University's Stern School of Business. Singh has closely studied the general social survey and has constructed an interactive visualization tool based on GSS data."
January 7, 2016
Excerpt from The New York Post -- "'The majority of these sites are gone or dying,' said Scott Galloway, founder of L2 Inc. and a professor of marketing at New York University’s Stern School of Business."
Professor Scott Galloway discusses the possibility of a proxy fight at Yahoo after activist shareholders' request for management changes
January 6, 2016
Excerpt from Bloomberg -- "I think it's moved beyond leadership at this point. I think this is, 'this is over, it's time to sell or spin, and if we need new leadership and a new board, fine.'"
Excerpt from Macleans -- "'I hope that firms will realize that consumers prefer simple and straightforward pricing to pricing that they do not understand,' says Vicki Morwitz, a professor of marketing at the Stern School of Business at New York University. 'While consumers may be fooled once by paying for an unexpected surcharge because they do not want to have to begin their shopping all over or admit that they made a mistake, they will be less likely to want to do business again with a firm they feel tricked them into paying more than they thought they should.'"
December 22, 2015
Excerpt from The Washington Post -- "'It’s going to generate some buzz and it’s a fun thing to do, but I think it’ll have limited if any commercial success,' said Samuel Craig, director of NYU Stern’s entertainment, media & technology initiative."
December 21, 2015
Excerpt from Marketplace -- "Scott Galloway, professor of marketing at NYU, said one reason those companies are still on board is that live sporting events are one of the few current television experiences that maintain a captive audience. 'In a digital age, it’s very hard to find scale,' he said. 'The temptation to get in front of a billion eyeballs is just too great.'"
December 21, 2015
Excerpt from Medical Xpress -- "'The general perception is that these taxes need to be substantial, at least 20% and often as high as 50%, to have a meaningful impact. This would be highly regressive since low-income consumers spend a greater proportion of their disposable income on food. Here, we have compelling field-based evidence that such taxes don't need to be high to be effective,' noted Singh."
December 17, 2015
Excerpt from the Financial Times -- "Scott Galloway, founder of research firm L2 and professor of marketing at New York University’s Stern Business School, expects [social shopping] will continue to underwhelm because social networks are for social activities, not shopping. 'Social still plays a huge role in retail or a brands’ business, but it’s just not where the actual retailing gets done,' Mr Galloway says."
December 14, 2015
Excerpt from The New Yorker -- "Faced with a string of these superficial decisions, many people become introspective. They begin to question whether their lives are meaningful. At the same time, they sense that meaningfulness comes from the margins of human experience—that it flowers during times of great joy, pain, frustration, or hardship. For this reason, even those who are privileged feel compelled to court new challenges. Some of us decide on a month without alcohol, or undertake an act of charity, or set out on a ten-kilometer run. Ashprihanal Aalto, Trishul Cherns, and Michael Bielik pursue meaningfulness in a different way: by running, running, and running some more."
December 14, 2015
Excerpt from Forbes -- "Over the past few years, the trend that started with Paris-based Ladurée and Pierre Hermé innovating with an unprecedented range of exotic macaron cookies and fillings, has escalated geometrically to include new innovators who are 'blowing out' other traditional sweet categories in previously unimaginable flavors, designs, colors, and textures. Many of these pioneers already have beautiful cookbooks. Paris food retail is getting more and more specialized, and customers are making the effort to travel considerable distances and happy to wait in line to buy a single-type of product, as long as it’s the best of it’s kind and there’s a 'wow' factor and sense of discovery. Here are 7 of the best sweet category dedicated shops, with an eighth example in the condiment category: French mustard."
December 14, 2015
Excerpt from Reuters -- "Beyond featuring women, the company appears to be tailoring some of its messages to females, said Alvin Lieberman, a marketing professor at New York University's Stern School of Business. In a four-minute comedy sketch on 'Jimmy Kimmel Live,' Harrison Ford and Chewbacca resolved a purported feud with an endearing, hug-it-out moment. 'That is not what your high-adrenaline, action-oriented male population is looking to see,' Lieberman said of the video, which has been viewed more than 1.1 million times on YouTube. 'It sells the characters.'"
Excerpt from BusinessBecause -- "'It is not just about cutting direct costs,' says Professor Anindya Ghose, director of NYU Stern’s Center for Business Analytics. 'It is about identifying high-performing employees, predicting their next performance milestone, and carving out their trajectories and rewarding them.'"
December 11, 2015
Excerpt from The Wall Street Journal -- "The companies are targeting $3 billion in cost savings. DuPont said it plans to cut about 10% of its global workforce before the actual merger. 'These three companies will not have more employees than two companies did,' said Mr. Galloway. 'This is going to be a lesson in human resources.'"
December 11, 2015
Excerpt from OZY -- "Nike ... opted not to renew Curry’s contract when it came up two years ago — right before his title-winning MVP performance. 'You make a decision on an athlete, and then keep your fingers crossed,' says Lieberman. Now, Under Armour has Curry through 2024, with CEO Kevin Plank publicly saying he wants to create a 'billion-dollar basketball business' around the diminunitive point guard. For now, Nike still holds 95 percent of the $5.2 billion basketball shoe market, and Lieberman is skeptical one athlete is enough to shift the balance of power."'
December 10, 2015
Excerpt from Yahoo -- "The more unusual your name, the more likely you are to see and interact with the world differently. 'It’s a self-fulfilling prophecy that begins with an unusual name and ultimately leads to unconventional or creative thinking,' Adam Alter, a professor of psychology and marketing at New York University who has studied how names can affect the way people are perceived, told Yahoo Parenting earlier this year. All of which is just logical: When you grow up with a name that nobody else around you has, you become used to, and thus less afraid of, deviating from the norm."
December 9, 2015
Excerpt from MarketWatch -- "More than 90% of people said they believe it’s better to eat a well-balanced diet than to use diet products in a 2015 survey of 2,000 Internet users by market research company Mintel. ... As a result, there has been a shift from touting the explicit weight-loss benefits of fitness and food products to promoting an overall lifestyle that is sustainable, said Priya Raghubir, the chair of the marketing department at New York University’s Stern School of Business."
Professor Scott Galloway discusses the future of Yahoo after the company's decision to spin off its core business
December 9, 2015
Excerpt from Bloomberg -- "I would say the board has been infected with a severe case of common sense, and when you have an asset that is trading at less than zero, the disposition of that asset is accretive to shareholders. And they recognize that. They're going to sell Yahoo. It's time for this soap opera to end. ... It's going to be good for shareholders. ... It's the right thing to do."
December 7, 2015
Excerpt from LinkedIn -- "Just a few years ago, Best Buy looked like it was on its way to failure, especially as its competitor Circuit City filed for bankruptcy in 2008. The company has since turned itself around and is even considered an undervalued stock at times. A big part of the turnaround was due to CEO Hubert Joly’s 'Renew Blue' program, implemented three years ago. However, L2 data shows digital investment played a big role in preserving and improving the company’s value."
In an op-ed, Professor Michelle Greenwald explains how marketing executives can benefit from younger "reverse mentors"
December 7, 2015
Excerpt from Forbes -- "Reverse mentoring can be a fun and enlightening experience for both parties. It frees Marketing execs of the embarrassment of looking and being out of date and out of touch, and importantly for the business, helps execs understand and adopt new approaches (assuming they’re better) more quickly. It’s a win/win way to infuse new perspectives in the organization."
December 1, 2015
Excerpt from Forbes -- "Colette has been ahead of its time since its inception, trailblazing collaborations, new ways of merchandizing, fun combinations of product categories, and the embrace of constant change. As long as this mother daughter duo continues their complementary partnership, it will continue to be the one to watch. Other retailers can observe, learn, and be inspired to do their own experimenting."
In a co-authored op-ed, Professor Scott Galloway shares six common mistakes that retailers make on mobile
November 24, 2015
Excerpt from Chain Store Age -- "Given mobile is the primary access point to online retail, brands must position mobile as a higher priority than desktop. Mobile users’ native experiences fit smaller screens, therefore graphics and navigation tools become more important. Mobile experience also requires frequent refreshing, since online customers have come to expect novelty and change."
November 23, 2015
Excerpt from Gizmodo -- "The original Dunning-Kruger effect ... showed up when participants were asked to rate their performance after a task had been completed. It relies on the fact that the lack of knowledge exhibited by those scoring in the bottom percentile would render them ill-equipped to accurately evaluate their own performance."
November 22, 2015
Excerpt from WIRED -- "'I think it’s based on associations rather than physiology,' says NYU psychologist Adam Alter, who wrote a book, Drunk Tank Pink, that examines this phenomenon. 'I’m open to being convinced otherwise, I just haven’t been yet.'"
Excerpt from Luxury Daily -- “While we are not used to storytelling around the processes of perfume production, the documentaries capture the attention of the consumer with powerful visuals, pertinent context, and enriching background sounds as to prepare the senses for the olfactory experience that each perfume promises."
November 19, 2015
Excerpt from WalletHub -- "Consumers need to be aware that while these deep discounts are often very good, they are offered to lure customers into the store with the hope that once they are there they will buy more. So, consumers should plan and be disciplined about what they want to buy and where they want to buy it and have done their homework before on who offers the best prices for the items they want to buy. Consumers who go after these deals should have a back up plan made ahead of time of what they will do if they are not one of the lucky ones to get the deal."
November 19, 2015
Excerpt from ABC News-- “I was surprised because ... Hallmark’s commercials are annoying sweet,” she told ABC News. “I wouldn’t expect this from Hallmark. The company is making fun of its own stereotype, this picture-perfect world.”
Excerpt from ABC News-- “I was surprised because ... Hallmark’s commercials are annoying sweet,” she told ABC News. “I wouldn’t expect this from Hallmark. The company is making fun of its own stereotype, this picture-perfect world.”
October 2, 2015
Excerpt from The Huffington Post -- "...businesses can start on a new course in one day that will change them forever. All it takes is a willingness to embrace new ways of thinking."
Professor Scott Galloway discussses Amazon's decision to stop selling Apple TV and Google Chromecast
October 1, 2015
Excerpt from The Washington Post -- "'Amazon, Google, Facebook and Apple are all bumping up against each other as their businesses are becoming more and more similar,' said Scott Galloway, a professor who teaches marketing and branding at New York University's Stern School of Business. He noted that Amazon's move is not the first barb these firms have thrown at each other; Apple's move to block ads on its phones, for example, was seen as a way to undercut Google's advertising business."
Professors Anindya Ghose and Robert Seamans' research on the connection between broadband access and racial hate crimes is featured
September 29, 2015
Excerpt from NDTV -- "'Technologically-driven solutions fall short in addressing an issue that is inherently social in nature,' said one of the researchers Anindya Ghose from New York University Stern School of Business in the US. 'Instead of engaging in a technological rat race with extremists, we should consider incorporating critical literacies - including digital media, anti-racism and social justice - into school curricula as an alternative strategy,' Ghose noted."
Excerpt from TIME -- "In a talk earlier this year, Scott Galloway of research firm L2 explained why this is such a big deal for Nike. 'There is a tectonic shift taking place in apparel, the second-largest consumer category in the world. Essentially, people are moving from denim to sweatpants,' he said. 'It sounds minor but it’s a huge trend in a gigantic industry.'"
Professor Priya Raghubir explains why consumer packaged goods manufacturers change their products' packaging
September 25, 2015
Excerpt from Forbes -- "'When a company is trying to reposition itself, for example from being a value brand to a more prestigious brand, this change must also get reflected in its packaging from being more basic to being fancier,' says NYU’s Raghubir. 'A great example is when Tropicana went the other route, of simplifying its package design, and there was a consumer backlash. Consumers do infer quality from the package.'"
September 23, 2015
Excerpt from BusinessBecause -- "Professor Thomaï Serdari, strategist in luxury marketing and branding at NYU Stern School of Business, said that there will be both new career and business opportunities as a result of luxury’s digital drive. 'We are experiencing a shift,' she said."
Professor Adam Alter explains the connection between a movie's title and its success, from his research and book, "Drunk Tank Pink"
September 18, 2015
Excerpt from Chicago Tribune -- "'Look at the symbolism,' Alter said, 'or how it sounds. Does it sound mellifluous or otherwise really appealing?' In other words, does it sound like the thing it represents?"
Excerpt from PayScale.com -- "Two psychologists, David Dunning and Justin Kruger have worked on cluelessness, finding among other things that incompetence is bliss, as well as numerous highly relevant business insights."
September 16, 2015
Excerpt from The New Yorker -- "Ultimately, the mob myth depends on psychological distance, a term coined by the New York University psychologist Yaacov Trope to describe the phenomenon of mental distancing that takes place when we separate ourselves from events, people, emotions, or concepts. In some cases, that distance comes naturally. As painful events recede into the past, our perceptions soften; when we physically remove ourselves from emotionally disturbing situations, our emotions cool. In other cases, we need to deliberately cultivate distance—to 'gain perspective.' Trope likens it to the old cliché of missing the forest for the trees: you can wander around in the trees forever or, through training or external intervention, realize that you need to step back to see the full vista."
September 15, 2015
Excerpt from The Washington Post -- "The new labels will also include updated serving sizes to better reflect how much people typically consume. But this change may create a troubling unintended consequence: It could actually increase how much food people eat."
Professors Luke Williams and Cynthia Franklin are named to the Hot Topics list of top professors in entrepreneurship
September 12, 2015
Excerpt from Hot Topics -- "As the people running formal entrepreneurship education globally, here are the top 100 professors of entrepreneurship cultivating the leaders of tomorrow."
In an in-depth Q&A, Geeta Menon, Dean of the Undergraduate College, highlights what is unique about the academic experience for Stern undergraduates
September 11, 2015
Excerpt from Poets & Quants -- "For me, one of the big things I take pride in is research and publications. One of the first things we instituted after I became dean was the Stern Program For Undergraduate Research, which really enabled our students to get first-hand experience with research projects."
September 11, 2015
Excerpt from Luxury Daily -- "'Today, because of social media, which are otherwise powerful marketing tools, our attention span gets shorter and shorter,' Ms. Serdari said. 'It is much more appealing to get someone’s attention with a very short and well edited film and do that several times over a long period of time rather than invest in long films that no one has the time to watch...In 14 short seconds one is drawn into the pulsating crowd of paparazzi and celebrities...,' Ms. Serdari said. 'It all develops through Ferragamo’s own penetrating gaze. He went, he saw, he conquered. Today, the brand stands where he once stood.'"
September 9, 2015
Excerpt from Boston Globe -- "The meaning [of a name] is important, too, notes one of the study’s coauthors, Adam Alter, a psychologist at New York University’s Stern School of Business. 'We’re sensitive to associations — positive and negative — between any two concept,' Alter said. The effect 'is probably small, but it’s automatic and we’re unlikely to be able to avoid it completely when we consider people by their names.'... The name Trump carries a range of strong associations... As Alter points out, the word 'implies victory and dominance.' ... Trump himself may derive confidence from these strong, positive meanings to trumpet forth his own eloquence, Alter suggests — although he added, 'Of course the effect of [Trump’s] name is likely to be far weaker than the effects of his inherited wealth and self-assured personality.'"
Excerpt from LinkedIn -- "The top tier customer who is willing to spend $5k and up on a new Apple gadget is one who values both technology and design. The collaboration between the two brands responds to both these preferences. The Hermès customer (who may already own an Hermès watch among others) is the same customer who equips her life in all products Apple. She values the quality and taste of the French brand and wishes that all products were designed with such refinement."
September 9, 2015
Excerpt from Bloomberg -- "I think Google is leaking value to Facebook. If you look, Facebook now does a billion queries a day, versus Google's three billion. Google is basically one core brand that is doing very well. Facebook [has the] best acquisitions in tech; 20% of all mobile time is on now on Facebook... Facebook's going to be the most valuable company in the world within 3 years - it has meaningful relationships with 2.2 billion people."
September 4, 2015
Excerpt from The Wall Street Journal -- "Most people who sign up for an unlimited service subscription expect to up their consumption, she says. But after a week’s binge, 'You’ll return to your former state.' Still, unlimited plans offer intangible benefits. Consumers love the feeling of freedom, she says. And studies have shown that the psychological pain of paying $120 at the start of the month is far less than shelling out $4 a day for a morning cappuccino."
August 28, 2015
Excerpt from Reuters -- "This is a fundamental shift in how companies and entrepreneurs operate. This is going to affect the venture capital industry. It already is affecting [it], in some ways. It's going to affect how people who want to raise money think about raising money. This is a very powerful means of potential investors and entrepreneurs coming together, bypassing... the angel investors, the venture capitalists."
August 26, 2015
Excerpt from Hub Magazine -- "The consumer always wins. If you give consumers three choices — a great e-commerce site with no stores, a great retailer with great stores but bad digital, or the multi-channel retailer — they will say door number three. The future looks more like Williams Sonoma, Sephora or Macy’s than it does Amazon."
August 25, 2015
Excerpt from The Washington Post -- "In one experiment, half of the participants were shown the current nutrition label for mini chocolate chip cookies, and the other half saw the proposed label. Then they were told they would be offered some, and asked how many they expected to eat. Those who had seen the new label, which used six cookies as a serving size, said they expected to eat more than those who saw the current one, which used three cookies as a serving size."
Excerpt from Forbes -- "I also believe that Amazon cannot survive as a pure-play retailer. Stores are the new black in the world of e-commerce. We’ve discovered these incredibly flexible robust warehouses called stores … retailers are not befuddled prey waiting around to be disrupted. They are in fact growing their e-commerce businesses."
August 24, 2015
Excerpt from Entrepreneur -- "As Ghose explains, investors may determine that investing $1 million across 10 startups might make more sense than investing $1 million in stocks during a bear market. 'For some, it will make more sense to invest in the stock market, but for some it will actually make more sense to invest in startups,' he says."
In an op-ed, Professor Michelle Greenwald discusses Amazon and the importance of corporate culture for a brand's image
August 21, 2015
Excerpt from Ad Age -- "Now the image of Amazon as a grueling place to work, and Bezos as an insensitive taskmaster, is harder to shake and will probably prove troublesome for some time. While in the past such a report may not have been as damaging, today's consumers -- led by millennials -- are different. They care more about what sort of culture is behind the brands they like."
In an op-ed, Professor Anindya Ghose explains why he believes mobile advertising has a bright future
August 19, 2015
Excerpt from The Conversation -- "We give our data to marketers (both willingly and inadvertently), and in return we expect to receive highly curated and personalized offers on our smartphones. Many consumers have even become resigned to the idea that they have little control over their data, and that this is the future of the world we will inhabit."
Professor Scott Galloway on Hello Alfred's classification of its workers as employees rather than contractors
August 19, 2015
Excerpt from CBS -- "'The disadvantage of having them be W-2 employees is simple. It's cost. It's more expensive,' NYU Stern School of Business professor Scott Galloway said. It's expensive but a great marketing strategy, according to Galloway. 'Consumers claim they are very concerned about the well-being of the employees at a company,' he said."
August 18, 2015
Excerpt from The Boston Globe -- "'The basic dilemma is build or buy,' said C. Samuel Craig, director of the Entertainment, Media and Technology Initiative at New York University’s Stern School of Business. 'It’s very difficult for large companies to build internally because the corporate structure is risk-averse, and it’s hard to move quickly. If you see something out there that’s already working, the temptation is to buy or buy in.'"
August 17, 2015
Excerpt from WWD -- "'Firms and organizations that compete on price — Amazon, China, Wal-Mart, McDonald’s — will view employees as a cost and the majority of innovation will be around how to get more, for less, from them,' said Scott Galloway, New York University marketing professor and founder of L2 Inc. 'This leads to companies that can be brutal places to work.'"
August 17, 2015
Excerpt from AdAge -- "As for the psychology of the whole business, Tom Meyvis, professor of marketing at the Stern School of Business at New York University, says it is likely there isn't 'too much research going on' when developing IVRs. 'The large aim of this business is to control cost,' he said. 'That's why we don't have live operators right away.'"
August 14, 2015
Excerpt from The Huffington Post -- "It may seem counterintuitive, but in order to inspire free thinking, the first step is often to set some limits. While some academics and consultants advocate not restricting brainstorming creativity in any way, I've found allowing infinite options with few guidelines can paralyze innovation. Creativity flourishes when some parameters exist for what brands stand for and the brand equity elements that marketing tactics and line-extensions must protect and extend. Apple is a great example of a brand that adheres to a strong identity and vision for what it stands for, and the company continues to innovate while staying true to their brand parameters."
August 12, 2015
Excerpt from Marketplace -- "'America and consumers love to forgive,' says Galloway. 'It’s like a relationship. When your spouse gets angry at you, the easiest way to end the issue, "You’re right, I’m sorry. This is what I’m going to do to address the issue." It’s the same thing in the world of business.'"
Excerpt from Los Angeles Times -- "Tom Meyvis, a professor of marketing at New York University's Stern School of Business, said removing gender labels from toys gives more power to the consumer, a trend in marketing. 'To some extent, you give more control to the customer,' he said. 'So customers can decide for themselves what is the ideal product for their son or daughter, rather than being told this is the category your child falls into.'"
Excerpt from Racked -- "Thomai Serdari, a luxury marketing professor at NYU, says Signet's play for the male consumer is also apparent in where and when its ads are placed: the company spends millions to air commercials during sporting events.'Their branding goes hand-in-hand with how the average American consumer equates relationship milestones with jewelry,' she says. 'Signet tries to stay on top of the mind of the consumer who will watch a football game, see an ad on TV, and equate that brand with the next gift he needs to buy his wife.'"
Professor Adam Alter's research on the connection between pronounceable names and status at work is highlighted
August 5, 2015
Excerpt from Business Insider -- "In a New York University study, researchers found that people with easier-to-pronounce names often have higher-status positions at work. One of the psychologists, Adam Alter, explains to Wired, 'When we can process a piece of information more easily, when it's easier to comprehend, we come to like it more.' In a further study, Alter also found that companies with simpler names and ticker symbols tended to perform better in the stock market."
Excerpt from Bloomberg -- "[In] the next quarter, if Twitter shows negative user growth, which we haven't seen across any social media platform that's still around, you could have a chill that could set off an incredible decrease in valuations, not only across social media, but across the market. I think Twitter is about to play a more important role in the markets than people think."
Excerpt from BusinessBecause -- "'Companies now need marketing managers who are comfortable with data analytics,' said Anindya Ghose, professor of marketing at NYU Stern School of Business."
Excerpt from HBS Working Knowledge -- "When faced with a decision on how to allocate resources between themselves and others, some people are 'pro-social,' meaning they are likely to value more equal distributions of resources, while others are 'pro-self,' meaning they try and maximize value for themselves. ... Santana explores these questions in a new working paper, Because We're Partners: How Social Values and Relationship Norms Influence Consumer Payments in Pay-What-You-Want Contexts, written with Vicki G. Morwitz, the Harvey Golub Professor of Business Leadership and Professor of Marketing at New York University's Stern School of Business."
July 24, 2015
Excerpt from Mashable -- "'It's one thing to put infrastructure together, it's another thing to get enough ventures around you where it suddenly starts to look like the place to go as opposed to someone having to be the pioneer to go,' says Jeffrey Carr, a business professor at New York University who focuses on entrepreneurship issues. 'There just is a huge hurdle for this kind of thing to work.'"
Excerpt from Financial Times -- "Mobile payment may ease the ‘pain’ of spending but could make you poorer...The academics Priya Raghubir and Joydeep Srivastava have found that we are less likely to remember purchases made by electronic means."
July 16, 2015
Excerpt from Forbes -- "'Amazon cannot survive as a pure-play retailer,' said Scott Galloway, founder of L2 Research and a professor at the NYU Stern School of Business, at the January DLD15 conference. 'Stores are the new black in the world of ecommerce. We have discovered these incredibly robust, flexible warehouses called stores.'"
July 15, 2015
Excerpt from The New York Times -- "When people bring reusable bags to the grocery store, ... they are more likely to take another environmentally-friendly step and buy more organic products than they might otherwise have. Then, feeling good about themselves, they treat themselves to indulgences like cookies, ice cream or potato chips, a new study in The Journal of Marketing found...The researchers attribute the changes to two distinct, largely unconscious processes. The first, called the priming effect, comes into play when you bring reusable bags and then 'behave in a congruent fashion, and buy environmentally friendly products,' said Bryan Bollinger, a study co-author and assistant professor at Duke."
Excerpt from Bloomberg -- "'This makes all the sense in the world,' said Scott Galloway, a professor of marketing at New York University’s Stern School of Business, in a phone interview. 'Tesla is not an automobile company, it’s a luxury company.'"
In an op-ed, Professor Michelle Greenwald discusses how food brands decide which health claims to advertise and how those claims affect consumer choices
July 6, 2015
Excerpt from Forbes -- "Choosing the right claims, the right number of claims, and the optimal size and placement of each is a moving target that has to be constantly reassessed among all potential target consumer segments. It’s not always intuitively obviously. The good news is that digitally testing a range of options has never been easier."
Excerpt from Marketplace -- "'If you're the film that gets in before the weekend, you begin to build buzz,' says New York University professor Al Lieberman, a former film and television marketer. 'It's out in the press immediately and on social media right away.' ...There are some risks of opening early. People are even more likely to spread the word about a movie they didn't like, Lieberman says, especially if they're a diehard fan who has stayed up until the wee hours to see it."
Excerpt from BusinessBecause -- "There are also opportunities in marketing, according to Professor Thomaï Serdari, strategist in luxury marketing and branding at NYU Stern School of Business. 'The field of luxury marketing, as an academic and business discipline, is growing as the luxury market grows,' she said."
Excerpt from The Washington Post -- "'Consumers are basically browsing and decision-making has moved online,' said Scott Galloway, a professor who teaches marketing and branding at New York University’s Stern School of Business."
June 26, 2015
Excerpt from Refinery29 -- "'Placebos work precisely because you expect them to have a particular effect,' Dr. Alter explains. 'There can’t be a placebo effect unless someone — or the text on a product label — suggests that it should have a certain effect on you.'"
Excerpt from Luxury Daily -- "'Having shifted away from mere marketing of products, most luxury brands have redirected their focus on marketing experiences,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'The best way to do that digitally is to create a 360-degree overview of the brand that highlights the processes of production, the people involved, the various stages outlined in bringing a concept to life and to the hands of the consumer and finally, the context within which it all takes place,' she said."
Professor Scott Galloway on how purchases of presidential campaign merchandise can provide information on supporter demographics
June 23, 2015
Excerpt from The New York Times -- "Still, the trend in campaign stores, even in the more basic emporia, is limited-edition merchandise geared to specific events: LGBT pride, in the case of Mrs. Clinton and Mr. Sanders (think rainbow stripes); Father’s Day in the case of Mr. Paul. Such collections provide not only another reason to shop/donate, but also insight into what issue may be most important to a particular supporter. 'It’s a signal,' said Scott Galloway, the founder of the digital research firm L2 and a clinical professor of marketing at the New York University Stern School of Business. 'I would say a faint signal, but definitely a signal.'"
June 17, 2015
Excerpt from L2 ThinkTank -- "When Facebook first went public, I valued it as a Google wanna-be — a company that if it was like Google would be a success. … When I value Facebook today, I no longer value it as a Google wanna-be. … Google is going to be the Facebook wanna-be in this market." -- Aswath Damodaran
June 16, 2015
Excerpt from Harvard Business Review -- "Why is it that a vacation seems like a great idea when we first plan it, but feels like more and more of a burden the closer it gets? It all comes down to distance. Over the past 15 years, quite a bit of research has focused on what Yaacov Trope and Nira Liberman call construal level theory. The idea is that the more distant some object or event is for you, the more abstractly you think about it."
June 15, 2015
Excerpt from The Washington Post -- "'These are [brands] that really control the supply, and therefore they manipulate the market and the desire for their products,' said Thomaï Serdari, a professor who teaches luxury marketing courses at New York University."
In an op-ed, NYU Global Research Professor Ian Bremmer discusses the role of America's foreign policy in the 2016 presidential election
June 12, 2015
Excerpt from Fox News -- "The next president will face a series of tough foreign policy decisions. How should America manage challenges from fast-rising China and respond to changes in the heart of Europe? What to do about ISIS? Should America become more involved in Iraq? Or Syria? Or Ukraine? What about Iran? Should Washington pursue more blockbuster trade deals like the Trans-Pacific Partnership?"
June 9, 2015
Excerpt from International Business Times -- "'I think if you're comparing Apple's service to Spotify’s, for example, there's a lot of similarity,' Craig continued. 'For that reason, given Apple's advantages, it's going to be an uphill battle for Spotify.'"
Excerpt from Daily Mail -- "Experts say that the 'planning fallacy' - a phenomenon in which predictions about how much time is needed to complete a task are incorrectly optimistic - is one of the most difficult changes to make. Justin Kruger, a social psychologist and professor of marketing at New York University’s Stern School of Business told The Wall Street Journal’s Sumathi Reddy that despite there being lots of punishments for being late, people still find it difficult to change their habits."
Excerpt from Bloomberg -- "In the world of ecommerce, I believe that pure-play ecommerce has no future, that almost every pure-play ecommerce is either going to open stores or go out of business. ... Effectively, the consumer always gets what she wants. Effectively, there's three doors here. There's a great ecommerce site, that just has an ecommerce offering. There's a great retail concept with just bricks and mortar and maybe a weak ecommerce site, and then there's door number three: a Sephora, a Williams-Sonoma or Macy's that have great stores, great ecommerce and use digital as the connective tissue... and the consumer wants door number three. I think the future looks more like Macy's and Williams-Sonoma than it looks like Amazon or Net-a-Porter or Gilt."
Additional coverage appeared on Bloomberg View and Business Insider Australia.
Additional coverage appeared on Bloomberg View and Business Insider Australia.
June 4, 2015
Excerpt from Forbes -- "Dominique Ansel is undoubtedly the most celebrated and innovative pastry chef in the Western Hemisphere and for good reason. Aside from creating the Cronut phenomenon, he has innovated in so many other ways. He combines magic, entertainment, craft, nostalgia, analogies, complexity, surprise, shapes, interesting presentations, contrasting textures and temperatures, and wow factor into his creations."
Excerpt from Luxury Daily -- "'Maria Grazia Chiuri and Pierpaolo Piccioli are a modern version of what used to be the lone creative genius, which Valentino, the man, and other great couturiers used to be,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'Today, we see a much more collaborative approach to creativity even in the great famed houses of high fashion.'"
Excerpt from The New York Times -- "'Who are brands obsessed with? High-income teens and people in their 20s,' said Scott Galloway, a New York University marketing professor and chairman of L2, a research firm that studies how consumer brands use social media. 'Those people are leaving Facebook. Where are they going? Instagram. Facebook has shored up its rear flank with this important cohort with Instagram.'"
Excerpt from Macleans -- "'People are very impressionable,” says Thomaï Serdari, an adjunct associate professor at New York University’s Stern School of Business. 'Everyone is adding the adjective of luxury. You see this all the time with condos. They’re advertised as luxury, but you walk in and the walls are so cheap.'"
Excerpt from Eyewitness News -- "Marketing professor Michelle Greenwald said Americans are beginning to become more aware of their health, looking for natural foods without artificial ingredients. She said customers are even willing to pay more for healthier products. 'Getting back to more natural ingredients,' she said. 'It’s a quality of life issue that’s kind of an affordable indulgence.'"
Excerpt from Marketplace -- "'It’s unlikely that any of these folks will end up in retail or merchandising,' says Scott Galloway, a clinical professor of marketing at NYU's Leonard N. Stern School of Business, of the candidates offerings, regardless of party affiliation. 'These aren’t what I’d call an inspiring product mix.'"
Excerpt from Bloomberg -- "You're talking about media plans that take years to plan. ... Also, I think a lot of different sports agencies are looking at the brands, how they're going to respond. So I think it'll be a measured, slow unwinding. But I do think they're going to withdraw from this."
Excerpt from VICE -- "Anindya Ghose, co-author of that study, believes that online dating apps have had a similar effect. 'Basically what the Internet does is makes it a lot easier to find a casual partner,' he told VICE News. 'Without the internet you'd have to put effort into casual relationships, chatting with someone at the bar or hanging out in places, but these platforms make it a lot more convenient and easy. That's essentially what the primary driver is.'"
Excerpt from CBS News -- "In its first year, Casper made more than $30 million in sales in the U.S. and Canada. 'The fact that they have so much word of mouth going is remarkable,' Williams said. 'But that word of mouth was generated by the ingenious design.'"
Prof. Luke Williams on challenges Yahoo CEO Marissa Mayer faces in deciding whether to spin off Alibaba assets
May 20, 2015
Excerpt from Fox Business -- "It's no longer a case of yes, Strategy A is the right direction...investors want to know that you can not only do Strategy A but you can do B, C, D or E or any combination of that if circumstances change. The problem is Yahoo hasn't put that vision out - nobody really knows how they're going to play out..."
In an op-ed, Prof. Michelle Greenwald outlines the 7 best strategic uses of consumer-facing technology in retail and hospitality
May 18, 2015
Excerpt from Forbes -- "Here are my top picks for pioneers embracing new forms of technology at retail, to differentiate themselves among digitally savvy target audiences. In so doing, they’re better meeting consumer needs such as product customization, or quality and speed of service and payment."
Greg Coleman, President of BuzzFeed and former President of HuffingtonPost.com, will join MBA students for a 2014-2015 Speaker Series event. Professor Charlie Murphy will moderate the discussion, beginning with a one-on-one interview and followed by an open Q&A session with students.
Excerpt from Luxury Daily -- "'This is not only about brand synergies, or exposure to a captive audience of ultra wealthy prospects,' she said. 'It is mainly of each brand’s elevated status just based on the fact that they can afford the expenditure required for their presence and events at Cannes."
Excerpt from Marketplace -- "'Nothing is forever in TV land,' says Sam Craig, a professor at New York University. After 15 seasons spanning 13 years, he says this is an 'inexorable movement.'"
May 11, 2015
Excerpt from BusinessBecause -- "'Companies now need marketing managers who are comfortable with data analytics,' says Anindya Ghose, professor of marketing at NYU’s Stern School of Business. ... 'Students who understand the digital ecosystem and who have technical skills are much in demand,' says Professor Samuel Craig, director of NYU Stern’s Entertainment, Media and Technology MBA track."
Excerpt from Quartz -- "We buy things that make us somehow feel we are better—more attractive, more powerful—and that show the outside world that we’re good enough, smart enough, and people like us. Scott Galloway, a professor of marketing at NYU’s Stern School of Business, goes a step further, saying the cachet that all vanity capital carries is distinctly libidinous. 'Men want to spread their seed to the four corners of the world,' he says, and women want their choice of mate. Anything that projects prestige or increases our physical attractiveness helps us accomplish those goals."
Excerpt from Fox Business -- "I think in terms of the labels or the category we put them in, that's really important. So if you call this a fitness tracking device -- FitBit, Jawbone -- their longevity is almost nonexistent. I think they're going to be replaced by Apple. But if you change the label and actually put them in this category of 'calm technology,' because the whole promise of this category is that it's going to keep us in the flow of information without constantly demanding our attention like looking at our phones. So you'll get a buzz on your wrist, or you'll be able to see it out of your peripheral vision. That category is going to be huge. There's a big future. There's going to be a lot of players. So it depends what category you put them into."
Excerpt from Marketplace -- "Sam Craig teaches marketing at NYU's Stern School of Business. Craig says historically, theaters and studios typically split box office receipts 50/50. But Disney reportedly wants 60 percent of the box office for the Avengers sequel. And that could add up. 'Studios need theaters. Theaters need films to make money.'"
In an op-ed, Prof. Michelle Greenwald highlights top integrated marketing campaigns from the past year
May 4, 2015
Excerpt from Forbes -- "The three brands selected have historically not been known as cutting edge, big-time marketers, and one is a non-profit. This is inspiring, as it indicates that brands don’t need mega-budgets or to be considered marketing heavy hitters to do great, impactful, clever, strategic, and insightful work. Smaller brands can create stellar programs with budgets that are less than gargantuan."
Excerpt from The Washington Post -- "Scott Galloway, a professor who teaches marketing and branding at New York University’s Stern School of Business, said he is skeptical that Jet’s pure e-commerce model can result in a viable business. 'I think [Jet] is a retailer designed by a consultant that makes sense in theory and has trouble in execution,' Galloway said."
In an op-ed, Prof. Scott Galloway argues that department stores will be more successful than online-only retailers in the next five years
May 1, 2015
Excerpt from LinkedIn -- "Department stores are alive and well in 2015. Frequently dismissed as dinosaurs outmaneuvered by digital players, department stores can not only survive the dramatic fall-off in foot traffic seen over the past few years but will ultimately fare better than pure-play e-commerce. Contrary to long-held conventional wisdom, department stores will be among the biggest winners in retail."
April 30, 2015
Excerpt from USA Today -- "Taking a trip down memory lane isn't new for marketers, who use nostalgia to connect products to our 'need to love and be loved,' according to Scott Galloway, a clinical professor of marketing at New York University Stern School of Business... 'The idea of connecting emotion to a product is to a certain extent the definition of branding,' Galloway says."
Excerpt from Newsweek -- "...you need to be open to hearing criticisms of the campaign rather than just evidence in its favor. When companies or brands are launching a new advertising campaign, they often 'try to confirm what they would like to do rather than play devil’s advocate,' Raghubir says."
Prof. Adam Alter explains how weather can impact athletic performance, from his book, "Drunk Tank Pink"
April 28, 2015
Excerpt from USA Today -- "'Humans and other animals tend to glide through life unless they encounter a reason to engage more deeply with the world,' Alter said. 'Harsher weather tends to temporarily dampen your mood, which acts as a signal that everything isn't OK in the world. That makes you more vigilant and potentially hard-working, whereas sunshine can dampen your motivation by signaling that all is right in the world.'"
April 17, 2015
Excerpt from Marketplace -- "In recent years Cadillac has had little to tout besides its high end Escalade SUV. In order to become relevant again, Serdari believes the brand needs to cut back its offerings, and go upmarket to firmly re-establish itself on the high end of luxury, a place BMW, Audi and Mercedes already occupy. 'Then perhaps they can reverse their strategy and start targeting the mass market with less expensive models.'"
Excerpt from Forbes -- "'Google+ is already dead,' said Scott Galloway, Clinical Professor of Marketing, NYU Stern, Founder & CEO of L2, a business intelligence firm, in Munich last month. 'It has a 98% decline in engagement rate, year-over-year.'"
Profs. Adam Alter and Deepak Hegde are named to the Poets & Quants "World’s Best 40 Under 40 Business School Professors" list
April 17, 2015
Excerpt from Poets & Quants -- "Alter provides Stern students with valuable insights into one of the most important skills in business: understanding what makes people tick. ... At Stern, Hegde has received extremely high ratings for his teaching in the part-time Langone MBA program. Of particular interest to his students may be Hegde’s research finding that venture capitalists are more likely to put money into startups with executives from the same ethnic background, and that when VCs and entrepreneurs shared the same ethnicity, startups were more successful."
Excerpt from OZY -- "Names induce certain sentiments in the same way. 'What does a name remind us of, and is it appealing — does it glide off the tongue? Those are the biggest drivers in name choice,' says Adam Alter, a marketing professor at NYU’s Stern School of Business who has studied the perception of names."
Excerpt from Quartz -- "Many world-class brands, such as Hermès and Christolfe, are constantly introducing ever-more exclusive clubs to ensure that their customers feel a consistent, heightened sense of 'specialness.' 'The irony but also allure about [these] clubs is that no one knows the exact list of clients (other than the corporate staff), but also no one can ask to be allowed into the club,' writes Thomaï Serdari, a professor of marketing at New York University’s Stern School of Business in an email to Quartz. Serdari is the editor of Luxury: History, Culture, Consumption.. 'In other words, one may be a member without knowing it.'"
Prof. Scott Galloway's DLD Conference presentation on the future of Amazon, Apple, Facebook and Google is featured
April 9, 2015
Excerpt from Forbes -- "[Galloway] and his team at NYU Stern have developed an algorithm that looks at more than 800 data points across four dimensions—site, digital marketing, social and mobile—and across 11 geographies. They applied this algorithm against 1,300 brands, thus providing the basis for predicting winners and losers."
April 7, 2015
Excerpt from Racked -- "Pure-play e-commerce can scale faster than brick-and-mortar, but then there’s a certain friction. The moment you are on Amazon’s radar, they will begin to look into your category. One of the most impactful ways to market a brand to somebody is to offer them a great in-store experience."
Excerpt from NPR -- "[With cash] you see the amount. It's written on the bank note...in the absence of actually seeing that amount, you don't have a strong memory trace."
Excerpt from The Guardian -- "High-end experiences, Alter points out, are increasingly devoid of choice: just as at the dawn of the automotive era, Henry Ford dictated that Americans could drive any color of black Model T, at the fanciest restaurants in New York, people pay extravagant sums to eat tasting menus dictated by top chefs. 'You want the producer to make some of these decisions for you,' Alter says. Luxury is found in limitations. 'There’s something comforting in knowing that for a very high-end product that it’s going to be curated for you by an expert,' Alter says. 'I would never let anyone curate a $5 meal for me.'"
March 31, 2015
Excerpt from US News -- "Budgeting for the year is better largely because people feel less confident in monthly estimates, so they tend to add more of a buffer for unexpected expenses, according to research by University of Southern California’s Gulden Ulkumen, Cornell University's Manoj Thomas and New York University’s Vicki Morwitz. The professors suggest taking a longer term view for a more accurate budget that you can stick with."
Excerpt from BBC -- "People have been able to raise the amount that they wanted to raise, but they falter on the actual delivery. On issues like packaging, on issues like fulfilling the actual amount of orders."
Prof. Bryan Bollinger's research on the impact of reusable bags on grocery shopping habits is featured
March 25, 2015
Excerpt from New York Magazine -- "After analyzing the transactions, Karmarkar and Bollinger found small but statistically significant trends associated with bringing reusable bags. First, those with reusable bags were slightly more likely — 0.25 percent — to buy organic basics like milk and eggs. One green behavior may provide a gentle nudge into another, the researchers conclude. But those who brought their own bags were also slightly more likely — 1.24 percent — to buy indulgent (nonorganic) items, like potato chips and candy."
Excerpt from Fox Business -- "I know from running the entrepreneurship center at NYU, and we have 600 students through every year...Getting clarification on who's doing what in a team and getting it in writing is critical right from the starting point."
Excerpt from Luxury Daily -- "'Heritage Italian brands Lamborghini and d’Avenza share a past that has remained exclusive to a select clientele,' said Thomaï Serdari, Ph.D., founder of PIQLuxury and adjunct professor of luxury marketing at New York University, New York. 'Recently however, both brands have made a definite turn towards a wider market where they can promote products that are destined for a particular type of clientele, most probably of foreign origins.'"
March 21, 2015
Excerpt from Quartz -- "It is what’s called 'transactional utility' says Dr. Tom Meyvis, a professor of marketing at NYU’s Stern School of Business and an expert in consumer psychology. 'You see this a lot with clothing,' he tells Quartz. 'Part of the joy you get from shopping is not just that you bought something that you really like and you’re going to use, but also that you got a good deal.'"
March 19, 2015
Excerpt from Forbes -- "More and more, companies are making vending machines an important part of their product distribution strategies. Vending machines enable products to sell in more locations at a lower cost than in traditional retail shops since the real estate expense is usually lower, and other than restocking the machines, labor costs are non-existent. In most cases, there’s no competitive clutter around the machines and the products are the only ones in their category at that spot."
Excerpt from Women's Wear Daily -- "'Instagram is top of the funnel, brand-based marketing, and it’s very hard to establish direct attributes and that’s across all mediums. Whether it’s print or marketing, the ROI here [on Instagram] is largely secondary,' he said. Galloway added that since Instagram has an organic reach of 100 percent, it’s hard to over-invest on the platform right now."
March 16, 2015
Excerpt from The New York Times -- "'It’s brain-dead to start making comments like this on behalf of a brand,' said Scott Galloway, a clinical professor of marketing at New York University’s Stern School of Business. 'This isn’t shooting yourself in the foot, this is taking a machine gun and spraying bullets all over your feet.'"
Excerpt from USA Today -- "'The business says: Try this, it's a great product, it's free,' Galloway says. 'They make it as easy as possible for people to use the product, love it and hopefully can't go without it. Sampling or free has only grown in importance of marketing lexicon.'"
March 16, 2015
Excerpt from Financial Times -- "Anindya Ghose, professor of IT and marketing at New York University’s Stern School, says: 'When Apple makes such a big splash, whether it sells or not, it creates an awareness about a gadget of this kind.'"
March 12, 2015
Excerpt from Fortune -- "They signal something about you. This is not a timepiece [holding up his watch]. I have not wound it in five years. It’s my vain attempt to express Italian masculinity and signal that if you mate with me I’m more likely to take care of your offspring than someone wearing a Swatch watch."
Excerpt from Luxury Daily -- "'Having established its presence in the market for several years, Fragrance Du Bois is the ideal partner for Xerjoff that enters this market for the first time,' [Serdari] said. 'While Xerjoff is an Italian brand and Fragrance Du Bois is French, in other words both are European, Fragrance Du Bois provides a bridge between the East and West by allowing the locals to take pride in their homegrown natural resources, which are then converted into unique fragrances in the South of France, a region renowned for perfume making.'"
March 10, 2015
Excerpt from Bloomberg -- "I think the consumer always wins, and the consumer wants a great multi-channel experience. They want products available online, they want the convenience and scale of online, but they also want to be able to go into these great flexible warehouses called stores, and stores are still a great shopping experience. When you look at the e-commerce companies that are really killing it, like Warby Parker, they've opened stores."
March 8, 2015
Excerpt from The Wall Street Journal -- "At the DLD15 Conference in January, Scott Galloway, a marketing professor at New York University, said Apple shares many of the characteristics of a luxury brand, from high prices to its 'self-expressive benefit,' or the idea that owning Apple products can help make you more appealing to other people. This has allowed Apple to continue selling iPhones at higher margins even as pricing pressure has taken a toll on competitors’ profits."
March 5, 2015
Excerpt from The New York Times -- "'The thing that is scary about ISIS is that they have clearly taken content production to a level of quality beyond other terrorist groups,' [Galloway] said. 'The videos they have produced are the production quality of MTV.'"
Prof. Scott Galloway's DLD Conference presentation on outlooks for the biggest tech companies is featured
March 5, 2015
Excerpt from Business Insider -- "Galloway says he believes 'pure play' retailers that focus on either digital or brick-and-mortar sales cannot survive. He thinks e-commerce companies will be forced to open stores or 'go out of business' and that retailers need to be excellent at digital or they will 'go out of business.'"
Excerpt from LinkedIn -- "As malls crumble and Amazon ascends, Department Stores have been on deathwatch. Yet brick-and-mortar retail remains relevant. While growth in clicks outpaces bricks, 90% of retail sales take place in a physical store. Over the next five years, Department Stores will grow 22% globally, with most of the growth coming from emerging markets, specifically China. Department Store brands, including Nordstrom, are seeing big bets on digital begin to pay off, while brands like Sears and JCPenney are looking to digital as a lifeline."
February 27, 2015
Excerpt from Fox Business -- "When you're talking about economic growth, it is innovation that's the driver of that growth. So the way you increase growth, you have to have a vested increase in increasing the pace of innovation. And the way you increase the pace of innovation is increase the exchange of ideas - or between different industries. So, New York has a tremendous advantage because it's not just tech.... you know, fashion, media... it's all mixing of ideas."
February 25, 2015
Excerpt from Luxury Daily -- "'Not all brands need be patrons of the arts but luxury brands most often are,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York. 'Traditionally, luxury objects have been items of great craftsmanship and artistic intent, often made of the most precious and rare materials — in fact, most of the luxury objects produced in pre-modern times are housed in renowned museum collections today.'"
February 24, 2015
Excerpt from Forbes -- "The Harvard Business School Case, El Bulli: A Taste of Innovation, provides business lessons from the way Ferran Adria innovates (the Catalan chef, thought by many to be the most creative chef in history) and it truly changed my life. Ferran’s methods inspired both my book, Catalyzing Innovation and innovation program for global executives, Inventours™, and it made me far more observant of how others innovate across industries, wherever I go. Given how much I learned by studying Ferran, I thought learning how the best 'mixologists' innovate could yield similar insights, given the art and entertainment form inventive craft cocktails have become."
February 23, 2015
Excerpt from Bloomberg -- "It's a great time to be a writer, someone who's trying to greenlight a script. There's going to be more original scripted series this year than, I think, in the history of television. It's just not a great time to be in the business of selling eyeballs on an ad-supported model. HBO, great business. Netflix, great business. Amazon media might be a great business. Trying to get a ton of people to show up and then selling commercials to beer companies, that's going to be a difficult business."
Profs Samuel Craig and William Greene's research on the connection between a movie's online buzz and box office success is highlighted
February 19, 2015
Excerpt from MediaPost -- "Craig and co-authors William Greene and Anthony Versaci (of AIG) analyzed 62 wide-release films over a six-month period. Among the top factors that led to increased online buzz were the film’s budget, its genre (horror and action do better than other genres) and whether the film is a sequel or not. 'This goes to show that studios do not have to remain passive bystanders, but can become actively involved in managing consumer engagement online,' Craig says. 'Similarly, studio executives can get an early read on its prospects.'"
February 19, 2015
Excerpt from Bloomberg -- "New York Fashion Week didn’t used to be as public an affair. Traditionally, designers would show off their garb to buyers, who would write orders. 'Now it’s an opportunity for a brand to present their stuff in a controlled environment,' Scott Galloway, who teaches marketing at New York University’s Stern School of Business, said on Bloomberg Television Tuesday. 'It’s all with the hope that well-heeled attendees will take a ton of pictures and spread it to a much broader audience.'"
February 17, 2015
Excerpt from Bloomberg -- "Typically, bloggers bring a couple things. They bring an authenticity, a new voice and they usually bring a younger audience... No brand ever says, 'We have too many 18-30 year old fashionable thought leaders.' You never hear a brand say that, 'Oh, we need more 75 year olds.' You don't hear that a lot. So you [fashion blogger Danielle Bernstein] bring an audience, an authenticity, and also, you bring a business model. You're leaner and meaner."
February 17, 2015
Excerpt from Entrepreneur -- "When discussing how weather affects human behavior in his book Drunk Tank Pink, New York University marketing and psychology professor Adam Alter said, 'Sunshine dulls the mind to risk and thoughtfulness.' Added Alter: 'Happiness sends a signal that everything is fine, the environment doesn't pose an imminent threat, and there’s no need to think deeply and carefully.'"
February 15, 2015
Excerpt from Bon Appetit -- "'The first impression I got seeing it was that I could taste it in my mouth,' says Priya Raghubir, professor of marketing at New York University’s Stern School of Business. 'It pushed you to smell, taste, almost feel the ice cream, a sensual delight which people are reluctant to want to indulge in. This really appeals to all the hedonic senses, and there’s nothing to distract from the ice cream, and it doesn’t allow you to get bored or want to zap it. It’s excellent execution!'"
February 12, 2015
Excerpt from Fox Business -- "Well, they've got a clear value proposition, because they've said, you know, we are basically a membership-based online marketplace that's aimed at cost-conscious consumers that are willing to sacrifice speed of delivery for lower prices. It's a very clear... good marketing message. I think there's an exit strategy in play there somewhere. If you look at most start-ups and investors, they're looking for an exit within about a five year time frame, three to five years. This is what he did for Diapers with Amazon, so I think it's going to happen again either with an IPO or a strategic acquisition, which would be Amazon."
Excerpt from LinkedIn -- "Björk is no Britney Spears, no Rihanna, or Mariah Carey. Björk has built more than a mere brand. She’s built a #luxury brand and here is why."
February 6, 2015
Excerpt from Inc. -- "'It is incredibly difficult to start to do things that are not within people's expectations because that brand promise comes with expectations,' says Carr. 'What is impressive about Swift is that ability to cross lines.'"
February 4, 2015
Excerpt from Luxury Daily -- "'For a brand like Bottega Veneta, a brand of inconspicuous quality that relies heavily on the quality of materials, design and craftsmanship, building the microsite is a studied strategic initiative,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York. 'It allows the brand to tell the story of the product and treat it as an exceptional entity amongst its other offerings.'"
Excerpt from Newsweek -- "Conducted by Jason Chan, assistant professor of information and decision sciences at the University of Minnesota and professor Anindya Ghose from NYU’s Stern School of Business, the study revealed a surprising increase in cases of HIV when a city adopted the intermediary service provider."
February 2, 2015
Excerpt from The Wall Street Journal -- "'This is a judgment that you’d think that people would be motivated to get right,' said Justin Kruger, a social psychologist and professor in the marketing department at NYU’s Stern School of Business. 'There are all sorts of disincentives and punishments for being late, and the paradox is we’re late even when those punishments and consequences exist.'"
February 2, 2015
Excerpt from Bloomberg -- "'I wouldn't even call this a failure. I'd call it an assisted suicide,' says Scott Galloway, a professor of marketing at New York University's Stern Business School. 'It's amazing it's taken this long for this company to go out of business.'"
Excerpt from Forbes -- "The temptation in developing Super Bowl ads is to go part way: to create the ads that seem clever in some way, but not strategically sound or effective in achieving important brand objectives. Having been on both the client and agency side, I know first-hand that it can be a tricky balancing act managing the creative process between brands and agency creative teams. The challenge and management skill is to not ... stifle creativity, but also not to loose the incredibly valuable opportunity to increase positive brand understanding. In the end, advertising, no matter how subtle and two-way the communication, is about making more people want to buy, benefit from, or identify with brands."
February 2, 2015
Excerpt from Chicago Tribune -- "Buying stuff to make ourselves feel better after a failure is not only expensive but could backfire and lead us to think more about our shortcomings, according to the study, 'Perils of Compensatory Consumption,' by Rucker, the Northwestern professor, Monika Lisjak of Erasmus University, Andrea Bonezzi of New York University and Soo Kim of Cornell University. Just as bad, retail therapy can strip consumers of mental resources and impair their self-control, the study says. And less self-control has been shown to potentially lead to excessive spending."
Prof. Scott Galloway explains how TurboTax can fix its reputation after a price-increase controversy
February 2, 2015
Excerpt from Marketplace -- "When a company messes up, three things need to happen, Galloway says. 'The first is to acknowledge the issue, to basically admit that you made a mistake,' he says. 'The second is to have the top guy or gal make that admission – so to get the CEO front and center. And the third is to overcorrect. To offer consumers a better deal than they originally had. Those are the only three things you need to remember, and they are consistently ignored.'"
January 29, 2015
Excerpt from Paste Magazine -- "Led by Vishal Singh of New York University’s Stern School of Business, the project examined consumer tastes across 416 counties in the United States, measuring 26 product categories ranging from frozen pizza preference to toothpaste. Over six years, Singh and his associates analyzed data and came find that a consumer’s political subconscious affects brands and items."
Excerpt from The Economist -- "Drs Chan and Ghose looked at HIV rates in 33 states between 1999 and 2008, mostly in America's central regions (Craigslist's spread to populous cities along coastal regions was much faster, muddying the data there). The arrival of Craigslist, they found, was correlated with an average increase of 15.9% a year in the number of HIV infections compared with what would have been expected had it not been launched; the pair estimate that the listing website was associated with between 6,130 and 6,455 extra infections a year throughout the country."
January 26, 2015
Excerpt from The Wall Street Journal -- "Researchers said they worked with Ashley Madison, a dating website for people seeking extramarital affairs, to analyze data on more than 8 million men who had registered with the site. The study was one of six published together in the journal 'Proceedings of the National Academy of Sciences' in 2014 that examined when people make big life changes. It found 950,000 men were ages 29, 39, 49 or 59, or '9-enders,' and their numbers on the dating site were 18% higher than what would be expected by chance, according to the researchers from New York University’s Stern School of Business and the Anderson School of Management at the University of California, Los Angeles."
January 26, 2015
Excerpt from Fox Business -- "Sling TV, it's an opportunity to fill a void, so they're the first in, but it's low-hanging fruit. I mean, we've been waiting for this void to be filled forever. So somebody was going to do it. I think the thing that I'm missing here is they're still using an old concept from cable. They're still using a bundling concept... I think investors... should be looking for where the real innovation comes from when another provider, perhaps also Sling TV, starts to unbundle these things."
January 25, 2015
Excerpt from Business Standard -- "'Such a marketing gimmick is a kind of price obfuscation strategy. It is a baiting tactic to lure price-sensitive customers to their store in the hope of converting them. But such practices are counterproductive in the long run for retailers. They will never be able to establish a loyal customer base using such opaque pricing tactics,' said Anindya Ghose, professor of IT and marketing at New York University's Leonard Stern School of Business."
January 23, 2015
Excerpt from Inc. -- "Anindya Ghose, an IT and marketing professor New York University's Stern School of Business, has spent much of the past few years studying mobile marketing, interactive retail beacons, and consumer privacy around the world. He says in Asia, where I reached him over telephone, beacons are increasingly popular in retail environments, and customers universally seem willing to give up a little bit of their data in exchange for the right rewards--say coupons or discounts. The primary hurdle to retailers using in-store mobile marketing is consumer awareness. But, Ghose says, 'given that a lot of consumers have the Shazam app, it is a brilliant play.'"
January 23, 2015
Excerpt from Marketplace -- "Google wants BrandLab to help it diversify, and Galloway thinks it just might work. 'Advertising, even in a digital age, is largely relationship-driven,' he says, adding that BrandLab will help companies create better videos and stories, which might draw more eyes to YouTube. Galloway also thinks the more comfortable a company like Lancôme is with Google’s products, the more likely it might be to spend money on them down the road."
January 22, 2015
Excerpt from Marketplace -- "Anindya Ghose, a professor of IT and marketing at New York University’s business school, says that 'more than 53 percent of search is coming from smartphones, and a big, big part of the smartphone market is owned by Apple.' Ghose also has consulted for Apple and collaborated with Google and Microsoft."
January 22, 2015
Excerpt from The Daily Mail -- "The researchers concluded: 'Consumption can sometimes compensate for our blunders and failures, but this doesn’t always work. Consumers who use products to boost their sense of self-worth tend to dwell on their shortcomings and their ability to exert self-control is impaired.'"
January 20, 2015
Excerpt from The Guardian -- "Despite the massive, high-profile hacks of Sony, Target and Home Depot, new legislation will struggle to gain traction, said Anindya Ghose, professor of Information, Operations and Management Sciences at New York University’s Stern School of Business. 'I don’t think anyone wants to see another Sony. It’s bad for everyone, but I find it difficult to see any legislation going through despite the importance of it,' said Ghose."
January 20, 2015
Excerpt from Luxury Daily -- "'The campaign has been timed well for Valentine’s day, fast approaching, making Intenso a top-of-mind product for women who are looking for something new for their men,' said Thomaï Serdari, Ph.D. brand strategist and adjunct professor of marketing at New York University, New York."
January 20, 2015
Excerpt from Bloomberg -- "It’s unlikely competitors will elbow out smaller manufacturers like Sierra Wireless, said Anindya Ghose, a professor at New York University who studies how the trend will affect businesses. Instead, smaller companies could become acquisition targets for technology giants looking to build out their presence in connected devices, Ghose said in an interview from New Delhi, declining to comment on whether Sierra would be a target."
January 15, 2015
Excerpt from The Atlantic -- "In their paper, 'Unskilled and Unaware of It: How Difficulties in Recognizing One's Own Incompetence Lead to Inflated Self-Assessments,' professors Justin Kruger and David Dunning write that, 'People tend to hold an overly favorable view of their abilities in many social and intellectual domains.'"
January 14, 2015
Excerpt from Economic Times -- "'What they (Flipkart) need to focus on now is building an installed base of loyal users who will find the platform sticky enough and not go to competitors like Snapdeal or Amazon at the drop of a hat,' said Anindya Ghose, professor of IT and marketing at New York University's Leonard Stern School of Business."
January 13, 2015
Excerpt from Economic Times -- "'The big benefit (of having one dominant seller) is that it enables them to fund discounts and dictate pricing policies in a very clever way,' said Anindya Ghose, professor of IT and marketing at New York University's Leonard Stern School of Business. 'They (WS Retail and Cloudtail) can suggest the discount amounts to the sellers and in fact compensate the sellers for the actual discounts given, either directly (via debit notes) or indirectly (by waiving listing fees or commissions).'"
In an op-ed, Prof. Michelle Greenwald discusses innovative products and services that launched in 2014
January 12, 2015
Excerpt from Forbes -- "At the end of each semester, I ask my business school students to share what they think are the best new products or services of the year. Given how international, digitally savvy, and current the students are, it’s a great way for us all to learn about standout innovations. Here are 11 of my favorites across a range of industries, and why I believe they’re a win for both consumers and the idea originators."
Excerpt from Daily Mail -- "People who are 29, 39, 49 or 59 are more likely to cheat and make life-changing decisions as they approach a milestone birthday, a study published in November revealed... Lead author Adam Alter, from New York University, said: ‘People audit the meaningfulness of their lives as they approach a new decade.'"
January 6, 2015
Excerpt from Bloomberg -- "I think Coach is a fantastic brand, and it's been counted out and rumors of its death have been greatly exaggerated... Michael Kors and Kate Spade have sucked all the oxygen out of the room because they've done a great job, but look for Coach to come back. I like this acquisition... A lot of great specialty retail brands were built on the back of shoes. Jimmy Choo, Christian Louboutin. Kenneth Cole originally started out as a shoe guy. So they get great domain expertise here. It says it's an accretive acquisition. It sounds like a win."
Excerpt from Economic Times -- "As dean, Menon works with three core principles for the undergraduate college — academic excellence and innovation; glocal (global plus local) perspective, increasing opportunities for students to participate in the academic, cultural and professional communities of NYC; and a vibrant Stern community, working through students, alumni, parents, corporate partners and employers. Under her watch, applications to the undergraduate college have reached an all-time high."