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FSofB Research Colloquium

Title:  Technology Use in Retail Stores: Prospects and Issues
Author:   Dr. Gopalkrishnan (Gopal) R. Iyer 
Date and Time:   October 29, 2015 2:00 p.m.
Venue:   Room 380 

Abstract:

 

With increasing competition and dominance by several Internet-only retailers, physical store retailers are increasingly seeking ways to attract, service, and retain customers. One strategy explored by large retailers is the incorporation of technology in various forms either to reduce costs t o the customer or provide better information services - both of which are areas of distinct competence for several Internet retailers. Thus, the deployment of in-store technology, such as kiosks connected to the Internet, self-service check-outs, technology-enabled personal shopping assistant devices, etc., are means by which physical retailers attempt to mimic and directly compete with Internet retailers. These strategies indeed have great potential when complemented with in-store advantages such as personalized human customer service and immediate gratification that are difficult for Internet retailers to incorporate. Moreover, some in-store technologies promise to enhance customer experience of shopping. However, as shown by one example of the use of a self-service technology in a retail context, the costs of implementing technology may not clearly outweigh the benefits, at least in the near-term. An empirical study of 104 users of a technology adoption (a personal shopping assistant) and comparison with 345 non-users in a field experiment revealed that factors that contributed to consumer trial of the technology were different from those that contributed to continued use. Implications are drawn not only for the types of technology that may contribute to greater cost-benefit advantages but also for the broader assessment of the strategic impacts of technology on customer satisfaction, loyalty as well as development of competitive advantages.

 

Author Bio: 

 

Dr. Gopalkrishnan (Gopal) R. Iyer is Professor of Marketing, Co-ordinator for the PhD program in Marketing, and Co-Director of the Center for Services Marketing and Management at Florida Atlantic University in Boca Raton, Florida, USA. He has held full-time or visiting positions at Baruch College (City University of New York), Durham University (UK), Virginia Tech (USA) and Dartmouth College (USA). His teaching experience spans more than two decades and courses at all levels (undergraduate, MBA, MS, Ph.D. and Executive Education) in the disciplines of marketing, international business, e-commerce and management. His industry experience, prior to academia, includes strategic management positions at two of Asia's Top 50 multinational corporations based in India. Professor Iyer has published extensively in several prominent research journals and has received several best paper awards for his research and publications, including two from the American Marketing Association, the Abraham J. Briloff Prize in Business Ethics, and the 2010 Outstanding Paper Award for an article on sustainability published in the Industrial Marketing Management. His current research interests are in the areas of business-to-business marketing, sustainability, entrepreneurship, innovation, global business, pricing and services marketing. His recent research is published in the Industrial Marketing Management, Journal of Product Innovation Management, Entrepreneurship Theory & Practice and the Journal of the Academy of Marketing Science. Professor Iyer has served in the past in various journal editorial boards as Associate Editor, Book Review Editor and Editorial Board member. He currently serves on the editorial boards of the Industrial Marketing Management and Entrepreneurship Research Journal and is on the Advisory Board of the Journal of Relationship Marketing. He is also a co-editor of the book series, Applied Marketing Science, published by Springer. He is currently the Vice-Chair for Retailing at the American Marketing Association Special Interest Group for Retailing & Pricing. He has also served as Track Chair or Co-Chair for various national and international conferences.

Title: Transition costs and inflation: A behavioral economic perspective on chained price index.
Author: Dr. David Axelrod
Date and Time:  November 16, 2016 - 2:00 p.m.
Venue:  Room 380 

Abstract: 

Traditional price indices are based on a fixed market basket as prices fluctuate. It estimates how much more (or less) it is to buy exactly what one has bought before. Chained price indices are based on a fixed utility level as prices fluctuate. It estimates how much more (or less) it is to buy items to achieve the same satisfaction. This is relevant since as prices change, in an uneven fashion, there will be substitution effects. However, changes in the market basket also means changes in behavior, which implies behavioral transition costs. These costs are dependent on demographic characteristics. An example of substituting out of home ownership and into apartment rental is considered. One set of transition costs includes commissions and moving. Another set of transition costs is due psychological impacts such as increased anxiety. To maintain the same utility could require consuming more counseling services and/or stress medication. Thus, the substitution is out of home ownership and into a mix of rental and counseling services. Since chained cpi has been suggested as means to reduce Social Security liabilities, these transition are likely to be greatest among the individuals most likely to experience them.

Title:  What Can We Learn from the Business Model of Xiaomi - the Chinese Technology Superstar
Author:   Dr. Yanli Zhang
Date and Time:   November 24, 2015 1:30 p.m.
Venue:   Room 380

Abstract:

 

This article provides five lessons companies can learn from the fast rise of Xiaomi - the Chinese company which became one of the fastest growing companies in the world and also regarded one of the world's most innovative companies. These lessons are: 1. Innovative business model and cost struc ture; 2. Cultivate user pride through user-centered and open innovation; 3. Utilize social media and fan clubs; 4. Create buzz and lower cost through e-commerce; 5. Edge-centric and flat organizational structure. Xiaomi has truly become not just a technology superstar, but also a model for companies in different industries to revolutionize their business and innovation to compete in this new Internet era.

 

Author Bio:

 

Dr Yanli Zhang is currently Associate Professor in the Management Department at Montclair State University. Her areas of research are in strategic management, international business, innovation and entrepreneurship. She has published extensively in academic journals and presented at many conferences. She was the Globalization Track Chair for IEEE International Technology Management Conference in 2012, and won the Doug Nigh Most Innovative Paper Award and Best Paper Award at the Academy of Management Annual Conf erence for her research that sheds light on how firms use networks to gain knowledge and build innovative capabilities. Dr. Zhang has a Ph.D. in Management and MBA from Rutgers University, and BA in Economics from Beijing University. Before academia, she spent several years working as a management consultant in Accenture, Beijing office, helping both multinationals and domestic Chinese companies with their market and growth strategies. She had also worked at the Ministry of Foreign Affairs US Division and Lenovo Strategic Planning department before that. One important current research stream of hers is about Chinese companies, their innovative capability, and competitive advantage.
 
Keywords: business model innovation, open innovation, user-centered innovation, emerging markets, Xiaomi

Title: Relativistic Arbitrage: The Financial Crisis of 2308
Author:   Dr. David Axelrod
Date and Time:   December 1, 2015 - 1:00 p.m.
Venue:   Room 380

Abstract:

 

The presentation is intended to be a fun and intriguing speculation on what happens when banks are on high velocity space transports, where the effects of relativity cause appreciable time dilation. In such a case time moves slower on the ship than back on earth. The implication is that while the bank observes itself compounding interest as they have agreed to, they are observed by a customer back on earth compounding at a rate slower than agreed to, hence creating the potential arbitrage. Attendees are encouraged to bring their imagination and share their most creative ideas.

 

Author Bio:

 

David Axelrod is an adjunct professor in the Economics, Finance and Real Estate Department in the Feliciano School of Business at Montclair State University. He has worked as an economist and consultant in the financial sector for about 20 years. His current research interests focus on the role of time in decision making and how it relates to issues like sustainability and behavioral economics.