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Stephen Hoch
Patty and Jay H. Baker Professor, Professor of Marketing, Director Baker Retailing Initiative

Stephen J. Hoch is the Patty and Jay H. Baker Professor and Director of Wharton's Jay H. Baker Retailing Initiative. Professor Hoch is internationally known for research on retail merchandising, assortment, pricing, and promotion strategy. He consults extensively with leading consumer goods manufacturers and retailers around the world, assisting them in focusing retail strategies and improving pricing and merchandising tactics via point-of-sale data.

Most recently, Professor Hoch's research offered retailers new insights into a valuable sub-species of shopper, the "cherry picker," a shopper who visits more than one store looking for the best price per unit. The study provided new details about the specific behavior and demographic characteristics of such shoppers, information that will help managers better formulate their approach to attracting discriminating shoppers.

A prolific scholar, Professor Hoch's research has been published in top-tier academic journals including the Journal of Marketing, the Journal of Consumer Research, Marketing Science and the Journal of Retailing. He also serves as an Associate Editor for Management Science, the Journal of Consumer Research and other leading journals, is a past president of the Association for Consumer Research, and has won numerous academic awards.

Professor Hoch's teaching interests include courses in Marketing Management, Pricing, Consumer Behavior, Retailing and Marketing-Operations Integration, as well as teaching Competitive Marketing Strategy , Essentials of Marketing and Pricing Strategies for Wharton's Executive MBA program.

Professor Hoch received his PhD in Marketing from Northwestern University , his MBA from the University of California , Los Angeles and his BA in Human Biology from Stanford University.

Current Research Papers

E. M. Eisenstein, Stephen J. Hoch, (2006), "Intuitive Compounding: Framing Temporal Perspective and Expertise"

Alan L. Montgomery, Young-Hoon Park, Stephen J. Hoch, (2006), "Long-Term Growth Trends in Private Label Market Shares"

Joseph P. Redden, Stephen J. Hoch, (2003), "The Psychology of Two-Part Tarriffs"

Publications

Edward J. Fox, Stephen J. Hoch, (2005), "Cherry Picking", Journal of Marketing, 69 (1), 2005, 46-62

Erica Mina Okada, Stephen J. Hoch, (2004), "Spending Time versus Spending Money", Journal of Consumer Research, 31 (2), 2004, 313-323

Serdar Seyman, Stephen J. Hoch, Jagmohan Raju, (2002), "Positioning of Store Brands", Marketing Science, 21 (4), 2002, 278-397

Stephen J. Hoch, (2002), "Product Experience is Seductive", Journal of Consumer Research, 29 (December, 2002), 448-454

H. Kunreuther, Stephen J. Hoch, (2001), Wharton on Making Decisions, Wiley

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In The News

New York Times, 05/03/2006

The Philadelphia Inquirer, 04/17/2006

BusinessWeek, 04/17/2006

The Economic Times, 03/15/2006

Wall Street Journal, 03/03/2006

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Awards

Faculty representative, AMA Doctoral Consortium (1984, 1985, 1990, 1991, 1992, 1995, 1996, 1997, 1999, 2000, 2001, 2003, 2004), 2004

Best article in the Journal of Retailing, 1989, 1995, 1994, 2002

President, Association for Consumer Research, 2001

Alpha Kappa Psi Award 1989, 1995

National Science Foundation grant (DDMS division), 1989

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Executive Education

Program Faculty, Pricing Strategies: Measuring, Capturing and Retaining Value

Program Faculty, Essentials of Marketing

Program Faculty, Competitive Marketing Strategy

Knowledge@Wharton

Technological Evolution Stirs a Publishing Revolution (08/05/2009)

On Shaky Ground: Commercial Real Estate Faces Financial Tremors (07/22/2009)

How About Free? The Price Point That Is Turning Industries on Their Heads (03/04/2009)

The Shopper of Tomorrow: Trading Down (02/18/2009)

The Mall Pall: Have America's Biggest Shopping Centers Lost Their Allure? (12/10/2008)

Pajamas and Popcorn: Retailers Face a Less-than-Festive Holiday Shopping Season (10/29/2008)

On the Clock: Are Retail Sales People Getting a Raw Deal? (10/01/2008)

Hot Today, Not Tomorrow: Retailers Face the Terrible Teens (09/03/2008)

A Precarious Road: How Retailers Can Navigate Inflation's Hazards (08/06/2008)

The Hard Sell: How to Market Products That Are No Longer Popular (04/30/2008)

Stephen Hoch
700 Jon M. Huntsman Hall
3730 Walnut Street University of Pennsylvania
Philadelphia , PA 19104
Phone: (215) 898-0233
Fax: (215) 898-2534
hochs@wharton.upenn.edu

Wharton Page

Research Interests: Retail merchandising, assortment, pricing, and promotion strategy; decision support systems and the psychology of forecasting; psychology of self-control; consumer behavior and learning; private label products.

Current Projects:
Internet pricing and auction mechanisms; perception of inflation; positioning of store brands.

Last Modified September 18, 2009