...Michael Trusov, Randolph E. Bucklin, & Koen Pauwels Effects of Word-of-Mouth Versus Traditional Marketing: Findings from an Internet Social Networking Site The authors study the effect of word-of-mouth (WOM) marketing on member growth at an Internet social networking site and compare it with traditional marketing vehicles. Because social network sites record the electronic invitations from existing members, outbound WOM can be precisely tracked. Along with traditional marketing, WOM can then be linked to the number of new members subsequently joining the site (sign-ups). Because of the endogeneity among WOM, new sign-ups, and traditional marketing activity, the authors employ a vector autoregression (VAR) modeling approach. Estimates from the VAR model show that WOM referrals have substantially longer carryover effects than traditional marketing actions and produce substantially higher response elasticities. Based on revenue from advertising impressions served to a new member, the monetary value of a WOM referral can be calculated; this yields an upper-bound estimate for the financial incentives the firm might offer to stimulate WOM. Keywords: word-of-mouth marketing, Internet, social networks, vector autoregression Michael Trusov is Assistant Professor of Marketing, Robert H. Smith School of Business, University of Maryland (e-mail: mtrusov@rhsmith. umd.edu). Randolph E. Bucklin is Peter W. Mullin Professor of Marketing, Anderson School of Management, University...
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...Psychology of Aesthetics, Creativity, and the Arts 2012, Vol. 6, No. 3, 204 –213 © 2012 American Psychological Association 1931-3896/12/$12.00 DOI: 10.1037/a0026937 Can Sad Music Really Make You Sad? Indirect Measures of Affective States Induced by Music and Autobiographical Memories Jonna K. Vuoskoski and Tuomas Eerola University of Jyvaskyla ¨ ¨ The present study addressed music’s disputed ability to induce genuine sadness in listeners by investigating whether listening to sad music can induce sadness-related effects on memory and judgment. Related aims were to explore how the different mechanisms of music-induced emotions are involved in sadness induced by familiar, self-selected music and unfamiliar, experimenter-selected music, and whether the susceptibility to music-induced sadness is associated with trait empathy. One hundred twenty participants were randomly assigned into four conditions with different tasks: listening to unfamiliar sad or neutral music, or to self-selected sad music, or recalling a sad autobiographical event and writing about it. The induced affective states were measured indirectly using a word recall task and a judgment task where participants rated the emotions expressed by pictures depicting facial expressions. The results indicate that listening to sad music can indeed induce changes in emotion-related memory and judgment. However, this effect depends, to some extent, on the music’s relevance to the listener, as well as on the personality...
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...NIRD – OB and OD Assignment in Leadership 1. “Leaders are born not made” – Discuss your argument citing two leaders of your choice. 2. Compare and contrast the leadership styles of any two pairs listed below: a. Mahatma Gandhi and Jawaharlal Nehru b. JRD Tata and Dhirubhai Ambani c. Bill Gates (Microsoft) and Jack Welch (General Electric) 3. From the leaders cited in Question 2, discuss the following: a. How did their personality traits interact with situations to shape the outcomes b. Is there a commonality in the styles of leadership exhibited c. Are good and poor leadership, qualitatively different phenomena ------------------------------------------------------------------------------------------------------------- 1. Leaders are born not made Many people say leaders are made. This is the greatest delusion ever concocted by man. Any leader who is worth his salt is a born leader. Society presents circumstances that enable one to be fashioned or molded into a leader. That’s the greatest contribution of society to mankind – it identifies a leader from its surroundings. A distinction has to be made between true leaders and quack leaders. True leaders know that they are born for a purpose. Society is their laboratory. They experiment and display various leadership skills which benefit society as a whole. There are also true leaders who...
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...in Marketing as well as other business/social disciplines. Topics include marketing strategy, customer behavior, segmentation, market research, product management, pricing, promotion, sales force management and competitive analysis. 211. (MKTG773) Consumer Behavior. (C) Cutright, Reed. Prerequisite(s): MKTG 101. This course is concerned with how and why people behave as consumers. Its goals are to: (1) provide conceptual understanding of consumer behavior, (2) provide experience in the application of buyer behavior concepts to marketing management decisions and social policy decision-making; and (3) to develop analytical capability in using behavioral research. 212. (MKTG756) Marketing Research. (C) Shen, Eliashberg. Prerequisite(s): MKTG 101, STAT 101. Students are highly encouraged to take statistics in the semester immediately preceding this course. This course examines the role of marketing research in the formulation and solution of marketing problems, and the development of the student's basic skills in conducting and evaluating marketing research projects. Special emphasis is placed on problem formulation, research design, alternative methods of data collection (including data collection instruments, sampling, and field operations), and data analysis techniques. Applications of modern marketing research procedures to a variety of marketing problems are explored. 221. New Product Management. (C) Armstrong, Adams. Prerequisite(s): MKTG 101; NOTE: Students may not take this...
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...Aggression and Violent Behavior 10 (2004) 99 – 128 Does viewing violent media really cause criminal violence? A methodological review Joanne Savage* Department of Justice, Law and Society, American University, 4400 Massachusetts Avenue, NW, Washington, DC 20016-8043, USA Received 9 September 2002; received in revised form 26 October 2003; accepted 30 October 2003 Abstract The topic of media violence has been the subject of heated debate in recent decades. There is a vast empirical literature on the effects of television on aggression but no published comprehensive review has ever focused on those studies that use criminal aggression as their outcome. The present paper represents an attempt to fill this void and provide a resource for those who do not wish to delve into four decades of original research in order to assess this line of investigation. Studies are evaluated based on contemporary standards of research in the field of criminology. Although the possibility that television and film violence has an impact on violent criminality remains, it is concluded here that, despite persistent published reviews that state the contrary, the body of published, empirical evidence on this topic does not establish that viewing violent portrayals causes crime. D 2003 Elsevier Ltd. All rights reserved. Keywords: Television violence; Media violence; Violent crime 1. Introduction A vast empirical literature on the impact of television exposure on aggression has accrued over the...
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...decision making? By extension is the public mood correlated or even predictive of economic indicators? Here we investigate whether measurements of collective mood states derived from largescale Twitter feeds are correlated to the value of the Dow Jones Industrial Average (DJIA) over time. We analyze the text content of daily Twitter feeds by two mood tracking tools, namely OpinionFinder that measures positive vs. negative mood and Google-Profile of Mood States (GPOMS) that measures mood in terms of 6 dimensions (Calm, Alert, Sure, Vital, Kind, and Happy). We cross-validate the resulting mood time series by comparing their ability to detect the public’s response to the presidential election and Thanksgiving day in 2008. A Granger causality analysis and a Self-Organizing Fuzzy Neural Network are then used to investigate the hypothesis that public mood states, as measured...
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...To Whom It May Concern: I am writing in regards to a high school position at your school I believe that my enthusiasm for Social Studies, students and learning would make me an excellent candidate for this position. I believe as educators we are ourselves are constantly learning what works and what doesn’t work by our diverse students and it is essential as teachers to keep in mind the needs of each and every one of our students. I am confident that my lesson plans and curriculum are designed to fit the requirements of the New York State Standards and the Common Core, which also reflects my contribution as a teacher to the classroom. I have a strong understanding of student development and have been consistently recognized by my cooperating teacher and her administrators for the relationships I create with my students in conjunction to the functionality of the classroom. My purpose in the classroom is to create a free space where students can engage in critical thinking, making inferences and supporting their ideas and opinions with primary and secondary sources. I believe it is important to utilize up to date pieces of information to engross the student’s attention and participation in the classroom. Being that our students are technologically savvy I also believe it is important to incorporate technology into lesson planning. I am also fluent in Greek and am to communicate with students and parents from Greek-speaking households in hopes to promote their parents...
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...The Dynamics of Viral Marketing ∗ Jure Leskovec Machine Learning Department, Carnegie Mellon University, Pittsburgh, PA Lada A. Adamic School of Information, University of Michigan, Ann Arbor, MI Bernardo A. Huberman HP Labs, Palo Alto, CA 94304 April 20, 2007 Abstract We present an analysis of a person-to-person recommendation network, consisting of 4 million people who made 16 million recommendations on half a million products. We observe the propagation of recommendations and the cascade sizes, which we explain by a simple stochastic model. We analyze how user behavior varies within user communities defined by a recommendation network. Product purchases follow a ’long tail’ where a significant share of purchases belongs to rarely sold items. We establish how the recommendation network grows over time and how effective it is from the viewpoint of the sender and receiver of the recommendations. While on average recommendations are not very effective at inducing purchases and do not spread very far, we present a model that successfully identifies communities, product and pricing categories for which viral marketing seems to be very effective. 1 Introduction With consumers showing increasing resistance to traditional forms of advertising such as TV or newspaper ads, marketers have turned to alternate strategies, including viral marketing. Viral marketing exploits existing social networks by encouraging customers to share product information with their friends...
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... they can utilise the easy accessibility and outreach capabilities the Internet affords, as thereby easily broadcast information throughout many different regions of the world simultaneously and costefficiently. Outdoor media transmit information via such media as AR advertising; billboards; blimps; flying billboards (signs in tow of airplanes); placards or kiosks placed inside and outside of buses, commercial buildings, shops, sports stadiums, subway cars, or trains; signs; or skywriting.[1] Print media transmit information via physical objects, such as books, comics, magazines, newspapers, or pamphlets.[2] Event organizing and public speaking can also be considered forms of mass media.[3] The organizations that control these technologies, such as movie studios, publishing companies, and radio and television stations, are also known as the mass media.[4][5] Contents 1 Issues with definition 1.1 Characteristics 1.2 Mass vs. mainstream and alternative 1.3 Mass vs. local and speciality 2 Forms of mass media 2.1 Broadcast 2.2 Film 2.3 Video games 2.4 Audio recording and reproduction 2.5 Internet...
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...in the news everyday. A decision by American policymakers to subsidize the production of ethanol, a form of gasoline containing an additive produced from corn, is seen by many as a key reason that grain prices are high around the world. The spectacular emergence of China as a major exporter of manufactured goods has affected wages in both rich and poor countries. As large corporations, such as Microsoft, Intel, Toyota, General Electric, and Siemens have expanded their investments in affiliates in many nations around the world, they have built global production networks that share technological knowledge across locations to produce increasingly complex goods that could be sold anywhere. Today, a major cultural product, such as a Hollywood movie or a jazz band’s latest compact disk, is likely to employ creative personnel from around the world, with various components of the product recorded, mixed or edited in different locations. The importance of international connections in trade, investment, and skilled services can be illustrated by considering the apparently simple act of making and bringing to market an item of apparel, say a fashionable woolen men’s suit. The initial task is to design the suit, a highly creative activity that generally takes place in the headquarters of a major fashion label, such as Armani or Hugo Boss. Beyond that, the firm must locate reliable suppliers of raw wool, which could be farmers in New Zealand, Argentina, Scotland, or elsewhere. The wool needs...
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...is one of man’s oldest activities and yet it is regarded as the most recent of the business disciplines. Michael J. Baker, Marketing: Theory and Practice, 1st edn, Macmillan, 1976 Introduction As a discipline, marketing is in the process of transition from an art which is practised to a profession with strong theoretical foundations. In doing so it is following closely the precedents set by professions such as medicine, architecture and engineering, all of which have also been practised for thousands of years and have built up a wealth of descriptive information concerning the art which has both chronicled and advanced its evolution. At some juncture, however, continued progress demands a transition from description to analysis, such as that initiated by Harvey’s discovery of the circulation of the blood. If marketing is to develop it, too, must make the transition from art to applied science and develop sound theoretical foundations, mastery of which should become an essential qualification for practice. Adoption of this proposition is as threatening to many of today’s marketers as the establishment of the British Medical Association was to the surgeon–barber. But, today, you would not dream of going to a barber for medical advice. Of course, first aid will still be practised, books on healthy living will feature on the bestsellers list and harmless potions will be bought over the counter in drug stores and pharmacies. This is an amateur activity...
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...ATTITUDES AND SOCIAL COGNITION The Dark Side of Creativity: Original Thinkers Can Be More Dishonest Francesca Gino Harvard University Dan Ariely Duke University Creativity is a common aspiration for individuals, organizations, and societies. Here, however, we test whether creativity increases dishonesty. We propose that a creative personality and a creative mindset promote individuals’ ability to justify their behavior, which, in turn, leads to unethical behavior. In 5 studies, we show that participants with creative personalities tended to cheat more than less creative individuals and that dispositional creativity is a better predictor of unethical behavior than intelligence (Experiment 1). In addition, we find that participants who were primed to think creatively were more likely to behave dishonestly than those in a control condition (Experiment 2) and that greater ability to justify their dishonest behavior explained the link between creativity and increased dishonesty (Experiments 3 and 4). Finally, we demonstrate that dispositional creativity moderates the influence of temporarily priming creativity on dishonest behavior (Experiment 5). The results provide evidence for an association between creativity and dishonesty, thus highlighting a dark side of creativity. Keywords: creativity, ethics, morality, moral flexibility, unethical behavior Evil always turns up in this world through some genius or other. —Denis Diderot (1713–1784) The ability to generate...
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...Crime and the affecting factors of the criminal behavior Prof. Dr. Ayman Elzeiny First : - Introduction to crime : The information about the crime reaches to the public may be through the newspapers , television programs, films, and novels . Some of us have accumulated experience with crime by having ourselves been victims or knowing others who have been victims, some by being offenders (or at least defendants), or knowing such individuals, and others by being occupationally concerned with prevention of crime or supervision of people found guilty of violating the law . There's many difficulties to offer a wholly satisfactory definition of the crime, a word frequently used and a phenomenon often encountered . For the purposes of scholarly study specifically, the amassing of reliable statistics, development of explanations and theories, and preparation of sound public policy a definition more exact than the mental images held by the public is essential . Crime is a by-product of civilization. Most civilized members of society obey authority and conform to the norms prevailing in their culture. Their obedience and compliance may vary in degree, but law-abiding citizens remain within the limits of tolerance. Crime then is a sociopolitical event subject to the definitions of the society in which it occurs. The social response to crime in terms of treatment of offenders is dependent upon the advance of the civilization and the affluence of the society...
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...ECONOMICS _____________________________________________________________________________________ WEEK 1: HOW ECONOMISTS THINK * What are preferences? Preferences refer to all of the objectives an individual wants to achieve that might motivate a choice among a set of alternatives. * What does it mean for an individual’s preferences to be rational? Please explain the concepts of costs and benefits and the reasoning process used by a rational individual. A rational individual will try to make the best possible use of his/her scarce resources, usually choosing an activity that has the highest utility. Rational preferences possess 2 properties, which are completeness and transitivity. Completeness means that choices can be ranked in an order of preference. For instance, an individual will have a preference when faced with two choices. Transitivity means actions can be compared with other actions. As an example, if action a is preferred to b, and action b is preferred to c, then a is preferred to c. A benefit is the maximum unit of currency amount you would be willing to pay to do x, while the cost is the value of all the resources you must give up in order to do x. The cost-benefit approach to decisions states that an individual should do an activity x if the benefit exceeds the cost. Relating to cost, in the process of coming up with a decision, a rational individual will take into account opportunity costs and ignore sunk costs. * New theories argue that...
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...THE B L A C K SWAN The HIGHLY I mpact IM of the PROBABLE Nassim Nicholas Taleb U.S.A. $26.95 Canada $34.95 is a highly improbable event with three principal characteristics: It is unpre dictable; it carries a massive impact; and, after the fact, we concoct an explanation that makes it appear less random, and more predictable, than it was. The astonishing success of Google was a black swan; so was 9 / 1 1 . For Nassim Nicholas Taleb, black swans underlie almost everything about our world, from the rise of religions to events in our own personal lives. A BLACK SWAN Why do we not acknowledge the phenomenon of black swans until after they occur? Part of the answer, according to Taleb, is that humans are hardwired to learn specifics when they should be focused on generalities. We concentrate on things we already know and time and time again fail to take into consideration what we don't know. We are, therefore, unable to truly estimate oppor tunities, too vulnerable to the impulse to simplify, narrate, and categorize, and not open enough to rewarding those who can imagine the "impossible." For years, Taleb has studied how we fool our selves into thinking we know more than we actually do. We restrict our thinking to the irrelevant and inconsequential, while large events continue to surprise us and shape our world. Now, in this reve latory book, Taleb explains everything we know about what we don't know. He offers...
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