Marketing Professor Venkatesh Shankar was an invited guest of the U.S. State Department in  Cairo, Egypt last week, where he delivered multiple presentations on marketing. He said online promotion can make a quantum leap in the trade between Egypt and the United States.

At the International Conference on Business Sciences on April 15-16, Shankar delivered presentations on “Innovations in Emerging Economies” and “Digital Marketing: Trends and the Future.” He spoke at the American Chamber of Commerce, Cairo University, Nile University, Ain Shams University, American University in Cairo, and American Embassy.

During a meeting with a number of journalists at the American Embassy in Cairo, he said electronic marketing helps to provide information about the products available in Egypt, and is a competitive advantage in the U.S. market. “Electronic marketing can make a difference in the movement of trade in the sectors of cars and technology among countries in the next five years,” he said.

Shankar said the advantages of electronic marketing will not stop at exports and imports between Egypt and the U.S., but could also introduce American consumers to some Egyptian products and services, enabling Egyptian entrepreneurs to market their products electronically and exchange experiences with their counterparts in the U.S.

“The challenge here is that some communication technologies are not as powerful in rural areas,” Shankar said. “They will have to focus on covering those regions.”

Shankar called on all companies to increase their investments in the development of the technology sectors infrastructure, which helps to expand the establishment of electronic stores and facilitates the transport of electronic goods. “Large companies rely on electronic marketing because they consider it a powerful tool to promote their products,” he said.

About Shankar:

Venkatesh (Venky) Shankar is the Coleman Chair Professor of Marketing and Director of Research at the Center for Retailing Studies, Mays Business School. His areas of specialization include digital business, marketing strategy, innovation, retailing, international marketing, and pricing. He has been recognized as one among the World’s Most Influential Scientific Minds by Thomson Reuters and as a Top 10 scholar worldwide on innovation.

 

Categories: Center for Retailing Studies, Centers, Faculty, Featured Stories, Marketing, Mays Business, News, Research, Texas A&M

The public is invited to watch the finals on April 20 for Aggie Pitch, the McFerrin Center for Entrepreneurship’s inaugural pitch competition in which students from Texas A&M System schools and branch campuses pitch their business concepts.

 

Registration will start at 9 a.m., and the program will begin at 9:30 a.m. The awards luncheon will begin at noon. RSVP here: www.AggiePITCH.com

In recent weeks, the participants have gotten a chance to showcase their ideas. In addition to a cash prize pool of $50,000, the winners potentially will be considered for nomination to additional business plan/pitch competitions across the nation.

Finalists invited to the April 20 event will be evaluated and scored by a panel of prestigious entrepreneur/investor judges who volunteer with the McFerrin Center for Entrepreneurship. The judging panel includes Blake Teipel, Ph.D., a local entrepreneur and former student collaborated with the McFerrin Center in 2015 to win a number of business plan competitions around his company concept, including the Rice Business Plan Competition. The Aggie Pitch award winners will be announced at the luncheon shortly after noon.

The goal of Aggie Pitch is to encourage all Texas A&M students to explore entrepreneurship and learn how to deliver their business concepts in the most compelling fashion.

…Read more

Categories: Center for New Ventures and Entrepreneurship, Centers, Entrepreneurship, Featured Stories, Mays Business, McFerrin Center for Entrepreneurship, News, Research, Students, Texas A&M

The Center for Retailing Studies (CRS) proudly announces its partnership with the (R)Tech Center for Innovation. Texas A&M becomes one of 10 inaugural affiliate universities to align with the (R)Tech Center, organized by the Retail Industry Leaders Association (RILA), and create a retail-tech talent pipeline.

RILA is the trade association for America’s largest and most respected retailers, representing more than 200 members. The partnership between Texas A&M and RILA strengthens corporate relationships with current CRS partners like H-E-B and Dollar General, while connecting CRS with other top retailers such as Best Buy, The Home Depot, and Apple.

The (R)Tech Center for Innovation, launched by RILA in 2017, focuses on helping retailers navigate the industry’s transformation through research, innovative technologies, and creating a culture of innovation – exposing retailers to the technologies and innovations driving change in retail.

“For 35 years, Texas A&M University’s Mays Business School has promoted retailing as an aspirational career choice. Our graduates possess the business acumen to drive sales at America’s largest companies. The partnership with RILA enhances our ability to train students to develop an entrepreneurial mindset and build essential technical skills so they can become transformational leaders in retailing,” said Kelli Hollinger, director of the Center for Retailing Studies at Texas A&M.

The (R)Tech Talent Pipeline will attract and expose young graduates with tech backgrounds to opportunities in the industry, helping shape a 21st-century retail workforce as retailers continue to innovate.

“We are excited to bring innovation to the forefront of retail and provide a test bed for new concepts, technologies, and user experiences. Supported by strong research in the area of design, augmented reality and consumer behavior, we expect this will lead to significant new insights into today’s consumer, and what retail of the future will hold,” said Amy Hillman, dean of the W. P. Carey School of Business at Arizona State University. Hillman was among the Outstanding Doctoral Alumni from Mays Business School in 2008.

Beginning this year, RILA and the (R)Tech Center for Innovation will address the need for recruiting employees with technical skills in three phases. Phase one will focus on four strategies that initiate the talent pipeline: hosting hackathons that expose students to retail challenges, facilitating a global case competition for creative student ideas, creating multi-use experimental stores with physical locations on select campuses, and launching an online certification specifically for mid-to-senior-level retail executives to educate them on innovative trends. Phases two and three will involve a program to recruit new talent into the industry and help retailers build tech skills in-house.

For more on this announcement, visit www.rila.org.

Categories: Center for Retailing Studies, Centers, Marketing, Mays Business, News, Texas A&M, Uncategorized

Valentine’s spending looks to enjoy a similar boost seen with the 2017 holiday season, the most since the Great Recession of 2009. Strong indicators include a roaring stock market, low unemployment, and high consumer confidence.

Kelli Hollinger, Director of the Center for Retailing Studies, says, “Shoppers opened their wallets more than analysts expected this past Christmas, with many retailers exceeding sales projections. Both retailers and consumers are beginning 2018 with more optimism. For Valentine’s Day romantics looking to spend on their sweethearts, retailers will offer promotions for top-gifting items, like candy, flowers, and jewelry that fit any budget.”

Create something memorable
Experiences remain popular, even when the sweetheart in your life is a furry friend. PetSmart is hosting pup playtime 9-5 on Valentine’s Day in select markets. Doggie desserts include a free ice cream treat, plus a free digital keepsake for pet parents.

If day trips are more appealing than diamonds, shoppers seeking experiences can book special romance packages like some of the options from Groupon, Travelzoo, or Renaissance Hotels.

Personalized gifts such as one-of-a-kind socks emblazoned with couple’s names or even faces, like sockprints.com add a little humor to gifting.

For a special night out, online sources like OpenTable are helpful for finding local restaurants with special menu items and promotions for February 14th.

Online and mobile shopping continue trending up
More consumers will shop with their thumbs, browsing, and buying more than ever from their mobile devices. Trendsetter Magnolia Market is featuring special selections for Valentine’s Day.

Online purchasing offers added convenience this season. Texas grocer H-E-B offers in-store pickup or delivery with floral orders.

Tech gifts are in
Besides traditional Valentine’s Day surprises, tech, and mobile accessories have become a popular item for both men and women. Online retailing giant Amazon is featuring deals on hundreds of tech selections, from headphones and smart watches to romantic-themed movies.

Don’t forget the favorites!
Classic Valentine gifts including cards, candy, dining out, and flowers will still top many lovers’ shopping lists.

Categories: Center for Retailing Studies, Centers, Marketing, Mays Business, News, Texas A&M

The American Marketing Association (AMA) and the American Marketing Association Foundation (AMAF) announce Leonard L. Berry as the winner of the 2018 William L. Wilkie “Marketing for a Better World” Award.

Berry is University Distinguished Professor of Marketing, M.B. Zale Chair in Retailing and Marketing Leadership, Regents Professor, Presidential Professor for Teaching Excellence at Mays Business School. He will receive the award during the 2018 AMA Winter Academic Conference in New Orleans in February.

Berry is a leading scholar in services marketing and retailing studies and, more recently, a leader in the study of healthcare service. He has been published in leading journals and has written 10 books, including Management Lessons from Mayo Clinic, Discovering the Soul of Service, and On Great Service. Berry established the Center for Retailing Studies at Texas A&M University in 1982, serving as director until 2000.

He has received numerous honors including the AMA-Irwin-McGraw-Hill Distinguished Marketing Educator Award, Paul D. Converse Award, and the Lifetime Achievement Award for Research & Scholarship from the Mays Business School. In 2015, he was named an AMA Fellow. Professor Berry received his Ph.D. from Arizona State University, and in 2014 was inducted into ASU’s Carey School of Business Hall of Fame.

…Read more

Categories: Center for Retailing Studies, Centers, Faculty, Featured Stories, Marketing, Mays Business, News, Texas A&M

As a former research assistant and now a research associate with the Real Estate Center (part of Mays Business School at Texas A&M University), Wesley Miller has spent almost a year tackling topics from border economics to the effects of globalization on Texas manufacturing.

But it wasn’t too long ago that he was tackling wide receivers as a safety for the Buffalo Bills and playing professional football internationally.

Miller, who joined the Real Estate Center full time in fall 2017 and is working toward a Ph.D. in economics, began his ride to the NFL while playing football at the University of Texas at El Paso. The California native was working on a master of science in economics at the time.

[ PHOTO by JP Beato III – REAL ESTATE CENTER ]“UTEP had some good academic programs, and they gave me my best opportunity football-wise,” Miller said. “My first goal at the time was football.”

After UTEP’s Pro Day, when scouts watch players work out and evaluate them as draft prospects, Miller wasn’t signed to a team. However, he was invited to the Bills’ rookie mini-camp. That’s where his professional sports career began.

“They usually have about 20 new players that they’ve signed, and they need more players just to run a practice,” he said. “So they invite other potential rookies or seniors coming out of college to run a practice or mini-camp for a weekend. Most of the time you’re not offered a position, because the roster limit is 90, and usually those are filled before rookie camp. That’s what happened with the Bills, but when I got there, I impressed them. They cut some guy and signed me.”

Miller completed his masters while playing for the Bills. He was with them through the third preseason game, about four months. The following year, he moved to Germany to play football for the Saarland Hurricanes.

“Football’s big in Europe,” Miller said, “and the most hardcore fans I’ve ever met are German.”

After his stint with the Hurricanes, Miller returned to the States and settled in College Station, where his fiancée, Jessica Smith, is currently a veterinary student at Texas A&M. He was hired as a research assistant and later as a research associate at the Real Estate Center. His position there coincided with his decision to pursue a Ph.D. in economics. He’s on track to finish his degree in 2022.

Although much of Miller’s research with the Center has focused on international economics, he says he’s particularly interested in housing markets.

“I’d like to research the positive and negative impacts homeowners’ associations have on housing markets,” he said. “There’s not much data out there, but with the resources available at the Center, I think there’s some meaningful research to be done. I’m also interested in public sector economics and politics. Every day, important decisions are made that have economic consequences that need to be evaluated.”

Miller says the special thing about economics is the flexibility it provides a researcher. “You can create an economic tie to almost anything.”

Miller’s latest article, which he co-authored with Real Estate Center Research Economist Luis Torres, is called “Globalization’s Effects on Texas Housing.” It’s available online.

– By Bryan Pope, associate editor, Real Estate Center at Texas A&M University

Categories: Centers, Featured Stories, News, Real Estate Center, Spotlights, Staff

An important aspect of the Mays Business School Strategic Plan is connecting Texas A&M students to former students, industry partners, and employers. The M.B. Zale Leadership Scholar program is shining example of this vision.

Named for the innovative merchant M.B. Zale, the founder of Zale Jewelry Company, the program emphasizes professional development for top retailing students at Mays. The Zales Scholars program is open to all business majors, with a highly competitive application process.

Through hands-on learning experiences that span two semesters, Zale Scholars build industry knowledge through interaction with retailing executives from across the state and country. Some of these experiences include a trip to New York City over Spring Break to tour retail flagship stores and buying offices. Monthly Friday seminars teach negotiation, effective communication, and professional presence.

“I encourage all business students to apply to the M.B. Zale Scholar program. This program will give you the necessary tools that will launch you to success, and finding your dream job,” said Supply Chain Management student Allison McGraw ’19, who just completed her final semester in the program.

Students attend the annual Retailing Summit, an executive education conference in Dallas, hearing case studies from top 100 retailers to startups.

“As a Zale Scholar, I view all of the program’s experiences as professional development opportunities to gain a better understanding, and evolve my personal career mission. From executive coaching, lunches, and coffee chats, I have networked with numerous professionals and gained multiple perspectives on how to deliver value beyond the ‘perfect product’ and discover new methods to interact with customers in a relevant way,” explained Marketing student Aricka Anderson ’18.

Zale Scholars also participate in on-site visits where they can observe the workplace environment. In October, the group visited the headquarters of Francesca’s in Houston.

“I researched Francesca’s as a high schooler, and it was studying this company that I decided I wanted to study retailing. Being a member of the Zale Scholar Program has given me numerous opportunities for face-to-face interaction with Francesca’s recruiters and internship coordinators,” added Business Honors student Caren Valenciano ’20.

The M.B. Zale Scholar program provides impactful learning experiences for students, and helps develop transformational leaders for tomorrow.

Categories: Center for Retailing Studies, Centers, Mays Business, News, Students, Texas A&M, Uncategorized

Shifting consumer attitudes are favoring online shopping more and more compared to brick-and-mortar stores, according to the 2017 C-CUBES™ Benchmark Retail Study released by Mays Business School at Texas A&M University.

Even with traditional stores adding more convenience services such as curbside delivery and in-store pickup, the shift toward online shopping has remained steady.

Four out of five consumers (81 percent) agreed with the statement that they “love the convenience of online shopping,” while 78 percent agree that “online shopping saves time and money.” Relative to physical stores, 62 percent agree that “online stores offer better value.”

The study is based on a nationally representative online survey of 5,881 adults conducted during October-November 2017. The margin of error is +/- 1 percent at the 95 percent level of confidence.

“Our study identifies the two big drivers of retail—convenience and value—that are fuelling online growth. Yet, physical stores will not vanish,” said Shrihari Sridhar, Center for Executive Development Professor of Marketing at Mays Business School. “Results show that 69 percent really enjoy going to a store and window shopping. There is also some backlash against online shopping, with 38 percent agreeing that e-commerce has taken out all the pleasure from shopping. Traditional retailers are at a critical strategic juncture. They need to balance the value and convenience of online shopping with the pleasure of in-store browsing.”

To challenge Amazon’s dominance in online sales, traditional retailers are responding to these elevated consumer expectations for convenience.

Retail giant Walmart announced that it will offer same-day store pick up for a greater variety of hot products ranging from the iRobot Roomba robotic vacuum and Xbox One S gaming system, to a 70-inch Vizio 4K television. Not only does Walmart provide the option for customers to receive a text alert once an order is ready, they will also have the ability to collect items in-store as late as 6 p.m. on Christmas Eve.

Target, with 1,834 stores, recently acquired grocery delivery startup, Shipt. The acquisition builds an important same-day delivery network for Target.

“Brick-and-mortar retailers can leverage their physical store locations to get products to customers as quickly as possible,” added Kelli Hollinger, Director of the Center for Retailing Studies at Mays Business School.

The 2017 C-CUBES™ Benchmark Retail Study is conducted by the Collaborative for Customer Based Execution and Strategy, sponsored by the Center for Retailing Studies, and underwritten by the R.C. Barclay Endowed Library Fund. The goal of the study is to provide an evidence-based approach to incorporate the customer’s perspective in strategic planning and execution for retailers. The research team for the Retail Study includes Vikas Mittal and Kyuhong Han at Rice University, along with Biwong Im at Texas A&M University.

For more information, contact:
Kelli Hollinger, Director, Center for Retailing Studies
khollinger@tamu.edu; 979-845-5898

Categories: Center for Retailing Studies, Centers, Marketing, Mays Business, News, Research, Texas A&M, Uncategorized

As 2017 comes to a close, Mays Business School celebrates another successful year. Here are 12 of our favorite moments:

1. Strategic plan launch
Mays Business School officially launched its new strategic plan, after hundreds of Mays faculty, staff, students and former students worked together to develop it. The strategic planning process itself was innovative and unique among business schools, using Appreciative Inquiry – a positive approach to change – to affirm Mays’ past and present strengths, to discover what makes Mays truly distinct, and to envision ways to amplify that distinctiveness.

2. Business school with a heart
When Mays junior Ashton Robison shared her touching photo of Mays Clinical Assistant Professor Henry Musoma holding her baby during a lecture, it immediately went viral. From the headline “Mommy Was Able to Graduate” in People to a guest appearance on “The Ellen DeGeneres Show,” news quickly traveled around the world about the culture of caring and connectedness at Mays Business School. It all started with the simple act of Musoma inviting Ashton to bring Emmett to his “Ethical Decision Making and Conduct” class when she didn’t have a babysitter. To recognize Musoma for his selfless service, Dean Eli Jones presented him with the first Mays Business School Spirit Award on Sept. 14. Watch “The Ellen Show” clip at tx.ag/ellenshow.

3. Largest single gift
The Texas A&M Foundation receives a commitment of $25 million from the Mays Family Foundation, the largest single commitment in the school’s history. The gift is part of an overall lifetime giving of $47 million, including a $15 million commitment in 1996 to rename the school to Mays Business School.

4. 50th to 1st anniversaries 

Many anniversaries of Mays programs were celebrated this past year, including the 50th of the MBA, the 5th of the Professional MBA, and the 1st of the MS Business program.

5. Inaugural Impact Award

Mays Business School gave the inaugural Peggy and Lowry Mays Impact Award to the award namesakes during the 25th-Year Anniversary Outstanding Alumni Awards Dinner. The award was created to recognize outstanding contributions to the vision and mission of the school. Recipients must exhibit a long and distinguished record of impacting Mays Business School in significant ways, which include exemplary giving and strong leadership.

6. $150,000-plus to nonprofits
The Strategic Philanthropy class at Mays awarded $100,000 to nonprofits – double what was given the first year – in the spring of 2017, and another $62,500 in the fall. The funds are distributed by students in the class.

7. The Most CEOs
Texas A&M University is tied with the University of Michigan for having the most graduates currently serving as CEOs of Fortune 500 companies, according to a Fortune magazine study. Three Fortune 500 CEOs are Mays graduates: Bruce D. Broussard ’84, CEO of Humana; David M. Cordani ’88, CEO of Cigna; and Jeff Miller ’88, CEO of Halliburton.
…Read more

Categories: Alumni, Centers, Departments, Featured Stories, Mays Business, MBA, Programs, Rankings, Spotlights, Staff, Students, Texas A&M

Holiday shopping is increasingly migrating online, according to the 2017 C-CUBES™ Benchmark Retail Study. This is the first consumer holiday report conducted by Mays Business School at Texas A&M University.

In 2016, about half of the participants (52 percent) did more than 40 percent of their holiday shopping online. This year, 62 percent plan to do more than 40 percent of their holiday shopping online. The vast majority of all consumers intended on shopping both store aisles and via digitally engaged devices, with fewer than 10 percent of respondents planning to only patronize physical stores.

This shift in consumer buying behavior is most affecting fashion products such as clothes and shoes, which top many wish list items at Christmas. About one in three respondents (34 percent) shop for these goods online.

The study is based on a nationally representative online survey of 5,881 adults conducted during October through November 2017. The margin of error is +/- 1 percent at the 95 percent level of confidence.

“Shoppers are the most clear about their shopping preferences during the holidays because of the planning it requires. These changes are here to stay,” said Shrihari Sridhar, Center for Executive Development Professor of Marketing at Mays Business School. Particularly retailers dealing in trend-influenced goods – like apparel, shoes, and jewelry – need to develop stronger digital options, because customers find online shopping to be a time saver and value generator.”

The 2017 C-CUBES™ Benchmark Retail Study was conducted by the Collaborative for Customer Based Execution and Strategy. Mays’ Center for Retailing Studies and the R.C. Barclay Endowed Library Fund sponsored the research, which analyzed shopping preferences across several consumer categories including fashion merchandise, grocery, health/beauty, office supplies, and pharmaceuticals. The goal of the study is to provide an evidence-based approach to incorporate the customer’s perspective in strategic planning and execution for retailers. “The report confirms that consumers are rapidly transitioning their holiday shopping from brick-and-mortar stores to online purchasing. The findings should guide retailers to invest in omnichannel capabilities, such as in-store apps, social media platforms, and efficient product search,” added Sridhar.

This is the first of five planned trend reports based on the survey. On April 11, 2018, the Center for Retailing Studies will host a half-day seminar in Houston for business executives to explore the findings in-depth.

The research team for the Benchmark Retail Study includes Vikas Mittal and Kyuhong Han at Rice University along with Biwong Im, a doctoral student at Texas A&M.

For more information, contact:
Kelli Hollinger, Director, Center for Retailing Studies
khollinger@tamu.edu; 979-845-5898

Categories: Center for Retailing Studies, Centers, Featured Stories, Marketing, Mays Business, News, Research, Texas A&M, Uncategorized