Paul E. Green Marketing Camp Friday, February 2, 2024
Wharton’s annual Paul E. Green Marketing Camp brings four leading scholars in the field of Marketing together to share their cutting-edge research, and interact with our faculty, students, and researchers. The day celebrates the diversity of the marketing field, with talks spanning the wide spectrum of marketing research topics, and with guests joining us from around the world. By bringing some of the most brilliant minds in the field together with our Wharton Marketing scholars, we aim to foster creativity, spark new research, and continue pushing the frontiers of marketing knowledge.
We are appreciative that Paul E. Green’s first PhD student, and Deane W. Malott Professor of Management Emeritus, Vithala R. Rao, and his wife Saroj have endowed Wharton’s Marketing Camp and named it in Paul’s honor.
Uma KarmarkarAssociate Professor the Rady School of Management & the School for Global Policy and Strategy (co-appointment)
University of California, San Diego
Uma R. Karmarkar is an Associate Professor at UC San Diego with a joint appointment between the Rady School of Management and the School for Global Policy and Strategy. She is currently the president-elect of the Society for Neuroeconomics and holds dual PhDs in neuroscience and in marketing, with published work spanning a range from cellular electrophysiology to consumer behavior. Her research program examines how people interpret and integrate information to make marketplace-relevant decisions in contexts where there is “too much” information (e.g., retail) or in uncertain contexts with “not enough” information (e.g., risk and ambiguity). Her findings have been featured in a range of academic and popular media outlets including the New York Times, Scientific American, Harvard Business Review, and NPR’s Wait Wait…Don’t Tell Me.
Sequential Information Preferences in Uncertain Decision-Making
Although choice can seem like an instantaneous action, decision-making often unfolds dynamically with sequential processing of multi-attribute information. For example, in uncertain choices, individuals may have their attention caught first by the possible outcome, or by the likelihood that the outcome will occur. Research on primacy-related effects suggests that the first piece of information people encounter in a decision will be more memorable and impactful (e.g. Anderson, 1973; Hogarth and Einhorn, 1992; Tavassoli and Lee 2004; Weber et al. 2007), even changing the qualitative nature of a person’s decision criteria (e.g., Karmarkar et al. 2015). Along these lines, “priming” perception of a risky gamble by first revealing the possible reward has been shown to increase its perceived value (Lopes and Ekberg, 1980; Millroth, Guath and Juslin, 2019). These findings support the idea that firms can influence consumer decisions by choosing to prioritize specific information, but do not speak to individuals’ own preferences for information flow. In this project we ask, given more flexibility, which type of information would decision-makers choose to learn about first in uncertain decisions? And does this self-selected sequence impact the nature of their eventual choice?
Ashlee HumphreysProfessor, Medill School of Journalism, Media, and Integrated Marketing Communications & Professor of Marketing, Kellogg School of Management (Joint Appointment)
Professor Ashlee Humphreys is a sociologist who examines core topics in consumer behavior and marketing strategy. She studies the role of institutions in markets and the influence of language on both consumer judgments of legitimacy and the broader process of legitimation. She is the author of Social Media: Enduring Principles, and her work has been published in the Journal of Marketing, the Journal of Consumer Research, and the Journal of Marketing Research. She serves as an Associate Editor for the Journal of Marketing and the Journal of Consumer Research.
All the News That’s Fit to Capitalize:
Person-brands and the Dynamics of Market Creation in Online Journalism
Gillian Brooks, Kings College, London; Ashlee Humphreys, Northwestern University
How do person-brands shape early markets? In an ethnographic study of the early online news market, the authors find that person-brands shape norms, values, and practices in early markets by crafting a unique organizational identity, cultivating founding myths, and building resonance with early followers. While prior research in marketing has noted the value of person-brands due to their social embeddedness, the authors show how person-brands mobilize their social and cultural capital across the field to structure norms, values, and practices in a market, yielding valuable resources that benefit their firms and imprinting a path for future market development. These findings yield insights to managers as to how to manage the organizational identity, founding myths, and audience resonance built by person-brands at an early stage in the market and guide managers as to how to carry forward these competitive advantages as the market further develops.
David SchweidelRebecca Cheney McGreevy Endowed Chair and Professor of Marketing
Goizueta Business School, Emory University
David A. Schweidel is Professor of Marketing at Emory University’s Goizueta Business School. Schweidel received his B.A. in mathematics, M.A. in statistics, and Ph.D. in marketing from the University of Pennsylvania. He was previously on the faculty of the Wisconsin School of Business at the University of Wisconsin-Madison and Georgetown University’s McDonough School of Business. Schweidel is an expert in the areas of customer relationship management and social media analytics. His research has appeared in leading business journals including Journal of Marketing, Journal of Marketing Research, Marketing Science and Management Science. Schweidel is the author of Social Media Intelligence (Cambridge University Press) in which he and his co-author discuss how organizations can leverage social media data to inform their marketing strategies. He is also the author of Profiting from the Data Economy (Pearson FT Press), in which he details the value of businesses tapping into consumer data for both individuals and companies.
Generative AI in Marketing: Opportunities and Risks
While there is considerable interest in generative AI, questions still remain as to how marketers can take advantage of the emerging technology and the challenges that they face in doing so. In these two projects, we demonstrate the risks that marketers face, as well as the opportunities that generative AI affords. Focusing on the creation of visual content, I first present research demonstrating an automated workflow that makes use of consumer perceptions and existing ad content to produce new visual content for online display advertising that has been found to outperform the ad content used by brands. In the second study, we examine consumer perceptions related to the mimicking of artistic styles through generative AI and their views on artist compensation. Combining deep learning models and conjoint analysis, we demonstrate that invoking artists’ styles improves perceptions of the art and willingness to pay. We also find that willingness to pay is affected by how contributing artists will be compensated.