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HKUST Biz School Magazine - Spring 2018

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HKUST Biz School Magazine - Spring 2018

Marketing in a Digital World

Marketing in a Digital World

[Sponsored Article] The rapid rise of digital media in recent years has had a major impact on the marketing sector, bringing a host of challenges and opportunities.

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From the Dean

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Google Makes Mobile Marketing Available for All

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Tencent Music: Let the Online Music Grow in a Sustainably Prosperous Way

[Sponsored Article] Parent company Tencent is a leading provider of Internet value added services in China, providing social platforms, such as the ubiquitous QQ (QQ Instant Messenger) and Weixin/WeChat, as well as the digital content services under the “Connection” Strategy. TME was created in 2016 to mainly manage the company’s three online streaming sites, QQ Music, Kugou, and Kuwo, amongst which, QQ Music is now the largest online streaming site in mainland China. Together, these three are the most popular music streaming services in the mainland, with around 700 million active monthly users, according to TME Vice President Dennis Hau. In addition, Hau says, TME’s WeSing online karaoke app has a total of 460 million registered users.

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Dennis Hau, Vice President of Tencent Music Entertainment Group (Kellogg-HKUST EMBA graduate)

McDigitizing Ordinary Marketing to Become Extraordinary Marketing

[Sponsored Article] According to Randy Lai, CEO of McDonald’s Hong Kong, with the highest level of smartphone penetration and internet usage in Asia, Hong Kong presents digital marketers with innumerable opportunities to reach consumers. Various survey findings indicate that about 96 per cent of Hong Kong smartphone owners log on to the internet every day, and spend as much time as 180 minutes online. Hong Kong’s digital readiness, coupled with the transition from conventional to digital marketing, is opening up a broad sphere of opportunities and possibilities says Lai, who points out that the three key areas of marketing which have been transformed by digital technologies are the speed, relevance and targeted reach of campaigns.

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TVB Expands the Frontiers of Digital Marketing

[Sponsored Article] TVB is the first wireless commercial television station in Hong Kong. It has provided free-to-air broadcasting channels for Hongkongers for over 50 years. To sustain and build on its market share of advertising revenue, and meet changing viewer preferences, TVB launched myTV SUPER in 2016. This over-the-top (OTT) platform has so far attracted more than 5 million subscribers. An OTT platform can sell media such as movies directly to the public via the internet.

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Putting Digital Marketing in Context

[Sponsored Article] With digital technology now making it possible to communicate and inform in a faster and more customer-specific way, Professor AV Muthukrishnan, Head of the Department of Marketing at the HKUST Business School, believes it is important to assess its significance and potential impact.

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Professor Anirban Mukhopadhyay and Professor AV Muthukrishnan

Eye-Tracking Technology and Marketing

[Sponsored Article] Visual attention is a scarce resource in a world where we are bombarded with commercials, websites banners, and ads on buses and in the MTR. It is also of critical importance for people trying to drive sales transactions.

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Influencing Consumer Behavior Using Online Social Cues

[Sponsored Article] Recent evolutions in technology and consumer behavior offer opportunities and motivation for businesses to use social information in their marketing activities and strategies. The high penetration of social media means many websites now integrate plug-ins to encourage consumers to “like, share, and follow”. As consumers frequently refer to reviews when making their own purchase decisions, businesses are also providing channels for customers to share their experience with others by posting online reviews.

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Micro-Moments: Understand Digital Consumers from Their Live Tweets, Instagram Photos and Google Searches

[Sponsored Article] Digital consumers are living their lives in micro-moments: purchase moments, discovery moments, action moments, et cetera. In those moments, consumers want to know, say, go, or buy, and they expect brands to address their immediate needs with real-time relevance. Thanks to mobile, micro-moments can happen anytime, anywhere. More importantly, micro-moments can be measured and managed.

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Micro-Moments: Understand Digital Consumers from Their Live Tweets, Instagram Photos and Google Searches

Unconscious Consumer Behavior in Marketing

[Sponsored Article] Simply asking consumers how they are influenced by different elements of the marketing mix, including products, brands, retail stores and salespeople is a largely ineffective approach.

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Unconscious Consumer Behavior in Marketing

How Long Did I Wait? Understanding Consumers’ Wait Duration Judgments

[Sponsored Article] Consumers often have to wait to acquire products or services (e.g., wait in line to check out at supermarkets or queue up to withdraw money from an ATM). It has been shown that consumers typically perceive these waiting experiences negatively and that longer waits contribute to lower customer satisfaction. In this research, we aim to gain a better understanding of how consumers perceive the length of a wait.

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Best Behavior

[Sponsored Article] HKUST’s new Behavioral Sciences Research Lab, which opened in 2016, is a dedicated facility where researchers can carry out experiments on human behavior. “There are many departments that perform research here [in the Behavioral Sciences Research Lab],” explains the new lab’s founding director Rashmi Adaval, a professor in the Department of Marketing. “The departments that are using the lab right now are marketing, management, economics, and information systems,” she says.

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Toasting a Legend

[Sponsored Article] In the Financial Times (FT) Global EMBA Rankings announced in October 2017, the Kellogg-HKUST EMBA program was ranked No.1 in the world, topping the highly respected chart for the eighth time. The celebration party was held on 24 November 2017 at the Four Seasons Hotel Hong Kong to mark this meaningful milestone.

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Toasting a Legend

Big Data’s Human Element

[Sponsored Article] The Hong Kong Fintech Week was staged at the Hong Kong Convention and Exhibition Centre, and saw HKUST faculty engaging in lively discussions with senior executives and business leaders on the digital future of the financial services industry.

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The Business School’s commitment to positioning itself as an intellectual powerhouse with regard to Fintech was underlined by the extent of its involvement in October’s Hong Kong Fintech Week.

UHackFin Brings Inaugural FinTech Week to a Successful Conclusion

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Media Champion Attributes Success to Curiosity

[Sponsored Article] Jiao Long was trained as a mechanical engineer, but driven by his curiosity, he chose a different path and joined the media and communications business after he graduated. After 16 years, he has grown and become a high flyer in the burgeoning marketing and advertising industry in China.

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Global Network Deans Meet at HKUST

[Sponsored Article] A two-day meeting hosted by HKUST Business School brought together deans and academic directors for the 12th Global Network for Advanced Management (GNAM) on 4 and 5 of December 2017.

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Global Network Deans Meet at HKUST

Eurasia–focused EMBA to Help Students Learn, Lead and Innovate

[Sponsored Article] The part-time program, lasting 17 months, has been designed to help forward-looking business leaders capitalize on new markets and opportunities emerging across that extensive region, partly as a result of China’s Belt and Road economic initiative.

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When Forced Sales Turn into Fire Sales

[Sponsored Article] Why and when do forced sales of assets result in discounts of “fire sale” proportions? Although it is known that fire sale discounts exist and can be substantial, it has been difficult to identify when forced sales result in fire sale discounts. Forced sales are typically triggered by industry-wide or asset-specific adverse shocks that affect both supply and demand for the particular asset. For instance, foreclosure and bankruptcy sales tend to occur when house prices fall, which makes it difficult to isolate the effect of forced sales on prices from the effect of the confounding shock. It is necessary to somehow separate supply and demand effects.

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Managing Disruption Risks

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Managing Disruption Risks

Being Helpful in the Workplace: A Study of the Motives in a Collectivist Culture

[Sponsored Article] Organisational citizenship behaviour (OCB), in which employees contribute to the well-being of their organisation through their voluntary actions, is generally considered critical to organisational performance and long-term viability. Numerous studies have teased out the determinants of OCB, but they have left an important gap: how does it play out in a collectivist culture?

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Being Helpful in the Workplace: A Study of the Motives in a Collectivist Culture

Can Short Selling Improve Financial Reporting?

[Sponsored Article] Short selling is undoubtedly a controversial activity; it is motivated by the belief that the price of the stock will decline, so it can be bought back at a profit. Previous research has shown that short sellers can identify earnings manipulation and fraud before they are publicly revealed. But this is for earnings manipulation that has already taken place; might short selling also constrain firms’ incentives to manipulate or misrepresent earnings in the first place? That is, does the prospect of short selling help improve the quality of firms’ financial reporting?

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Harbingers of Failure

[Sponsored Article] Diet Crystal Pepsi was launched in 1992 after getting a strong response in test markets, but a year later the product was pulled from the shelves after weak sales. Similarly, Frito Lay Lemonade and countless other products that passed the pilot phase went on to be failures. How could there be such a mismatch of early promise and subsequent performance?

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How Sentiments Influence the Real Economy

[Sponsored Article] The financial sector plays a central role in the modern economy, as is evident from the wide and deep macroeconomic impact of the global financial crisis in 2007–2009. There are at least two channels through which the financial sector can influence the “real economy” -- the part concerned with producing goods and services -- namely the financing of capital, and the production of information about investment opportunities.

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How Sentiments Influence the Real Economy

The Economics Behind Buying Frenzies

[Sponsored Article] We’ve all seen the photos of people queuing outside stores, eager to buy the latest hot product. “Buying frenzies” are a favorite topic in the media, and everyone has an opinion about them, and many may have even joined such a queue for a mobile phone or game console. One of Hong Kong’s most notable buying frenzies occurred when Apple released its iPad 2 in 2010 and lengthy queues formed even in the pouring rain; in fact, Apple staff were only too happy to hand out umbrellas and raincoats – bearing the Apple logo – to waiting customers.

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The Economics Behind Buying Frenzies

Push and Pull in Relational Professional Networks

[Sponsored Article] You are an auditor, consultant or lawyer, and you have just been promoted to a management role. Congratulations! But, wait, don’t get too carried away – what will this new and more responsible role mean in terms of your relationships within the workplace? Who comes into focus and who fades out, and how do you identify high-quality new contacts?

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