Category: Marketing

The evolving science of services

The W. P. Carey School, through its pioneering Center for Services Leadership, has been at the leading edge of research concerning the services sector, which now accounts for 75 to 80 percent of the U.S. economy. Recently, academics outside of business schools are beginning to take an interest in learning about the dynamics of services. This rising interest in what is being termed “services science” not only signals a new appreciation for the vast influence of services on the global marketplace, but also hints at the possibility of exciting new interdisciplinary research that could help solve problems both in the business world and elsewhere.

Keeping the customer dissatisfied? How businesses can recover from service failure

Strategies for recovering from service failures can have a dramatic impact on profitability, according to research conducted at the W. P. Carey School of Business. That’s because most business profit comes from keeping current customers satisfied, not from developing new accounts. So, it’s crucial that managers and executives know how to handle service failures. But in reality, many business leaders are clueless about what to do when their best efforts come up short.

A penny for your thoughts: When customers don’t complain

When it comes to consumer contentment, managers and executives should not mistake silence for satisfaction. Most unhappy customers never say a word; they just take their business elsewhere. Consumer-complaint expert Nancy Stephens, an associate professor of marketing at the W. P. Carey School of Business, urges companies to do everything possible to encourage unhappy consumers to give businesses the chance to make things right — and to keep their customers.

What’s in a name: Cardinals Stadium seeks a partner

Arizona Cardinals Stadium, a $355 million, multi-purpose, high tech athletic entertainment facility, is considered among the top ten in the world. When it officially opened on September 10 it sported all the bells and whistles, except one: a corporate name and a lucrative naming rights contract. Naming rights are key to the success of a franchise, say ASU experts, because they provide critical cash, good will and branding opportunities. Observers are wondering: are the Cardinals asking too much money (an undisclosed amount) for naming rights; are negotiations stuck on the Cardinals negative image; is the Glendale stadium too remote; or are the Cardinals just too distracted with operational issues?

Group buy-in: How the urge to fit in sways purchase satisfaction

Corporations utilize multi-person buying committees to be sure that high-ticket decisions are based on broad input and merit. But new research about customer satisfaction that draws on social identity theory shows that members of buying groups may align their opinions with those of the group, especially if the individual members are strongly connected. W. P. Carey marketing Professor Ruth Bolton says managers should consider this issue when forming buying groups and setting up their processes. Other measures to protect the process include building a measure of anonymity into reports, providing information well in advance of discussions, and fostering a culture where it is OK to disagree.

Changing channels: It’s all about what clicks with customers

When Dell Computer Corp. announced in May that it is opening two retail stores, retail industry observers took note. Dell, with $56 billion in revenue this year, was a pioneer in developing the online model of retailing. Brick-and-mortar retailers have followed, creating their own online stores. So why is Dell increasingly interested in the mall? It’s an experiment to see if the company can reach a less tech-savvy segment of the market. Marketing experts at the W. P. Carey School of Business comment that Dell’s move into a traditional retail setting, like the online ventures of the storefront retailers, is an example of a company experimenting with sales channels. Adding channels helps companies target groups of consumers. What’s not clear is whether more channels increase sales.