Product and Service Management
Tuition Myopia: Myopic Focus on the Costs of Higher Education Induces Intertemporal TradeoffsJun 21, 2019 Haewon Yoon, Indiana University, Yang Yang, University of Florida, and Carey Morewedge, Boston University, 2019, 19-120-06
Is calculating lifetime ROI the right way to think about college costs? Six studies show that financially-impatient consumers prefer low-cost, low-return colleges over high-cost, high-return colleges, thus failing to maximize their lifetime earnings.
Last Place Aversion in QueuesMay 17, 2019 Ryan W. Buell, Harvard University, 2019, 19-118-05
Last-place aversion is consequential for customer satisfaction and firm profits - customers who are last in line are twice as likely to switch or renege from the queue. Queue transparency can help. So can "eliminating" last place - experimentally ensuring that no one ever perceived themselves to be in last place reduced defections by 43.5%.
Lead by Example? Custom-Made Examples Created by Close Others Lead Consumers to Make Dissimilar ChoicesMay 15, 2019 Jennifer K. D’Angelo and Kristin Diehl, University of Southern California, and Lisa A. Cavanaugh, University of British Columbia, 2019, 19-117-05
In eight studies, researchers offer novel evidence on how examples shape customization choices. Their findings predict that seeing a friend's customized sneakers would lead you to customize your own sneakers to be *less* similar - even sacrificing your own preferences in order to be unique.
Challenging the Marketing Status QuoMay 01, 2019
David Gal, University of Illinois at Chicago
Why do businesses fail to adapt as circumstances evolve? In this webinar, David Gal draws on lessons from the history of warfare, business, and science to identify the forces that serve to protect the status quo and how these forces can be overcome.
Poster: Organizational Buying and Innovation Adoption Under Share of Wallet ContractsApr 15, 2019 Navid Mojir, Harvard University
Navid Mojir explores the impact of “share of wallet” contracts on purchasing decisions and how they can potentially speed up diffusion of innovation in the context of a medical device market.
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