Back by popular demand, Immersion 2017 will introduce MSI member companies’ rising marketing stars to the practical benefits of scholarly research. The conference will be structured around a series of modules that will present the latest research-generated knowledge on an important marketing topic and provide opportunities for discussing productive managerial applications. Participants must be nominated by MSI Trustees, and attendance will be limited. Please contact firstname.lastname@example.org for more information.
This conference is currently at capacity. If you are interested in attending, please contact Immersion@msi.org to be added to the waitlist.
|6:00 – 7:30 p.m.||Registration and Welcome Reception|
|8:30 – 9:30 a.m.||Breakfast|
|9:30 – 9:45||Welcome and Opening Remarks|
|9:45 – 10:30||Introductions and Morning Activity|
|10:30 – 12:00 p.m.||Innovation, Harbingers of Failure and Success
Eric T. Anderson, Northwestern University
A fundamental premise of new product development is that positive feedback—and strong initial sales—bode well for a product’s future success. Eric Anderson will discuss research that challenges this assumption. He will share findings from multiple studies of large datasets that show that some customers have preferences that lead them to systematically buy product “winners” or product “losers.” About ⅓ of buyers are “harbingers of failure” and their early adoption of a new product is a strong signal that a product will fail (i.e., not be on the shelves less than three years after introduction). In contrast, about half of customers tend to buy product winners and early adoption by these “harbingers of success” is indeed good news for a product’s future. Anderson will discuss the implications of these findings for marketing research, and how these insights may help marketers adjust their new product development processes.
|12:00 – 1:15||Lunch|
|1:15 – 1:30||Afternoon Activity|
|1:30 – 3:00||Analytics in Modern Data-Driven Ecommerce
Harikesh Nair, Stanford University
Today, ecommerce is driven by marketing science, which combines technology, AI, and micro-data to improve retail. Drawing on his work as chief scientist for business strategy at JD.com, Harikesh Nair will offer an overview of this challenging environment, demonstrating how marketing analytics has helped China’s largest retailer to understand consumer behavior and purchase drivers, to better forecast demand, and to improve targeting of promotions, advertising, and other efforts. He will discuss how these learnings apply to other firms and will guide participants through discussions of how improvement in analytics can greatly improve marketers’ decision making.
|3:00 – 3:30||Break|
|3:30 – 5:00||Fostering Creativity at Work: Lessons from Legos
Page Moreau, University of Wisconsin – Madison
Innovation and creative thinking are vital to firm success, yet few business leaders would say they are living up to their creative potential. In this session, Page Moreau will discuss the barriers that often hamper our creative performance and will offer tools to overcome those challenges. Based on recent research involving problem-solving activities, she will lead participants in interactive exercises designed to help them recognize their own creativity “traps” and develop strategies to beat them. Participants will come away with new ways to foster creativity in their work and their organizations. (Legos provided!)
|5:00 – 5:30||Reflections and Closing Remarks|
|5:30 – 6:00||Break
Please take this time to visit your rooms and prepare for the evening activity and dinner
|6:00 – 7:00||Private Trolley Tour of Boston
Please meet in the hotel lobby to depart promptly at 6:00 p.m. The trolley tour will end at our dinner location in the city, so anyone who does not wish to join for the tour must please plan on arranging their own transportation to the restaurant.
|7:00 p.m.||Reception and Dinner in Boston|
|8:00 – 9:00 a.m.||Breakfast|
|9:00 – 9:15||Morning Activity|
|9:15 – 10:45||The “4 Minds” of Customer Decision Making
Ryan Hamilton, Emory University
Scientists have spent decades creating powerful and detailed descriptions of how people make decisions. Unfortunately, many make contradictory predictions, and are difficult to understand and implement. In this session, Ryan Hamilton will present a practical tool for understanding and applying the science of decision making. The “4 Minds” framework synthesizes research to help marketers identify which area of decision-making science is most likely to apply to their firm, market, and customers. Participants will learn about four customer mindsets—Ideal Point, Market Comparison, Local Comparison, and Image—and how each leads to very different customer outcomes and behaviors. Ryan will discuss how the 4 Minds framework can be applied in segmentation, targeting, positioning, and persuasion in B2C and B2B contexts. In an interactive discussion, he will invite participants to share specific marketing problems and will discuss how the framework might be applied to better anticipate needs and serve customers.
|10:45 – 11:15||Break|
|11:15 – 12:45 p.m.||Brand Hero or Helper? Understanding Customers’ Core Psychological Needs
Keisha Cutright, Duke University
Building and maintaining strong brands in competitive B2B/B2C environments requires a keen understanding of the psychology that drives customer behavior. In this session, Keisha Cutright will draw on her research on branding and consumer psychology to highlight the core psychological needs—esteem, meaning, belonging, and control—that marketers would be wise to consider in their decision making. In particular, she will focus on the role brands might play as “heroes” or “helpers” in addressing consumers’ fundamental need for control. With interactive discussions and exercises, she will explore how deeply understanding this need may change marketers’ approach to brand communication, product design, pricing, distribution—all aspects of marketing strategy.
|12:45 – 1:00||Concluding Remarks|
Please note that the MSI group block at the W Hotel is currently sold out. A select number of reservations will be honored at the group rate on a case by case basis. If you have not already booked your accommodations, please contact Christen Stumpf at email@example.com as soon as possible and she will help coordinate.
100 Stuart Street
Boston, MA 02116