Photo of Stephen Hoch

Stephen Hoch

Laura and John J. Pomerantz Professor in Marketing

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

Links: CV

Contact Information

Address: 769 Jon M. Huntsman Hall, 3730 Walnut Street
University of Pennsylvania, Philadelphia, PA 19104
Email: hochs@wharton.upenn.edu
Office: (215) 898-0233
Office Fax: (215) 898-2534

Overview

Stephen J. Hoch is the Laura and John J. Pomerantz Professor in Marketing. 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.

Research


  • Narayan Janakiraman, Robert Meyer, Stephen Hoch (Working), The Psychology of Consumer Decisions to Continue or Abandon Waits from Invisible Service Queues.    Abstract
  • Stephen Hoch, E. M. Eisenstein (Working), Intuitive Compounding: Framing Temporal Perspective and Expertise.
  • Stephen Hoch, Alan L. Montgomery, Young-Hoon Park (Working), Long-Term Growth Trends in Private Label Market Shares.    Abstract
  • Edward J. Fox, Stephen Hoch (2005), Cherry Picking, , Journal of Marketing, 69 (1), 2005, 46-62.    Abstract
  • Stephen Hoch, Erica Mina Okada (2004), Spending Time versus Spending Money, , Journal of Consumer Research, 31 (2), 2004, 313-323.    Abstract
  • Stephen Hoch, Joseph P. Redden (Working), The Psychology of Two-Part Tarriffs.  Abstract
  • Stephen Hoch, Jagmohan Raju, Serdar Seyman (2002), Positioning of Store Brands, , Marketing Science, 21 (4), 2002, 278-397.    Abstract
  • Stephen Hoch (2002), Product Experience is Seductive, , Journal of Consumer Research, 29 (December, 2002), 448-454.    Abstract
  • H. Kunreuther, Stephen Hoch, Wharton on Making Decisions (2001).
  • Xavier Drèze, Stephen Hoch (1998), Exploiting the Installed Base Using Cross-Merchandising and Category Destination Programs, International Journal of Research in Marketing, 15 (5), 459 - 471.  Abstract
  • Stephen Hoch, Leonard Lodish (1998), Store Brands and Category Management, Journal of Retailing    Abstract
  • Stephen Hoch, Xavier Drèze, Mary E. Purk (1994), EDLP, Hi-Lo, and Margin Arithmetic, Journal of Marketing, November, 16-27.  Abstract
  • Xavier Drèze, Stephen Hoch, Mary E. Purk (1994), Shelf Management and Space Elasticity, Journal of Retailing, Winter, 301-326.  Abstract  Description

Awards And Honors

  • 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 Description
  • National Science Foundation grant (DDMS division), 1989 Description
  • First Place in the National Dissertation Competition of the American Marketing Association, 1984
  • Second Place in the National Dissertation Competition of the American Psychological Association Division 23, 1984

In The News

  • , New York Times  -  05/03/2006 Description
  • , BusinessWeek  -  04/17/2006 Description
  • , The Philadelphia Inquirer  -  04/17/2006 Description
  • , The Economic Times  -  03/15/2006 Description
  • , Wall Street Journal  -  03/03/2006 Description
  • , San Francisco Chronicle  -  01/06/2006 Description
  • , The Wall Street Journal  -  01/06/2006 Description
  • , Plastics News  -  12/12/2005 Description
  • , The Wall Street Journal  -  12/02/2005 Description

Knowledge @ Wharton

Courses

Previous

  • MKTG225 - Principles of Retailing

    This course explores the domain of retailing; marketing to the final consumer. Emphasis is placed on marketing aspects of retailing not covered in other courses: retail strategy, merchandising, vendor relations and location.

  • MKTG793 - Retailing

    This course provides an interdisciplinary overview of the retailing industry. Primary focus will be on the customer facing activities of retailers, including assortment planning, private-label development and the management of in-store operations, and the back-door activities (forecasting and supply chain management) that support customer interaction. In addition, current issues facing retailers, such as customer relationship management, industry consolidation and supplier relations, will be explored. The course will also survey topics in finance, operations, information technology and real estate as they relate to retail.

  • MKTG899 - Independent Study

    A student contemplating an independent study project must first find a faculty member who agrees to supervise and approve the student's written proposal as an independent study (MKTG 899). If a student wishes the proposed work to be used to meet the ASP requirement, he/she should then submit the approved proposal to the MBA adviser who will determine if it is an appropriate substitute. Such substitutions will only be approved prior to the beginning of the semester.