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Wharton Global Forum Bangkok 2015: Innovation: Online and Offline with David Bell

Biography

Wharton School of Business
Xinmei Zhang and Yongge Dai Professor

Professor Bell is an expert in consumer shopping behavior. His current research focuses on theories and explanations for geographic variation in the performance of Internet retail startups. Startups studied include Bonobos.com, Diapers.com, and WarbyParker.com. Recent articles explain the effect of physical location on customer acquisition, contagion effects among colocated consumers, and the effect of preference isolation on online demand. Other projects focused on traditional retail settings explore unplanned and impulse buying, and consumer amortization strategies for fixed shopping costs. Previous articles explained consumer store choice among retailers with different pricing strategies, the effect of reference point formation on consumer response to promotions, and the effect of structural factors (e.g., dwelling size) on consumer shopping strategies.

Professor Bell’s research is published in all of the premier academic marketing journals: Journal of Consumer Research, Journal of Marketing, Journal of Marketing Research, Management Science, Marketing Science, and Quantitative Marketing and Economics. He has won several teaching and research awards, including the MBA Core Curriculum Award, MillerSherrerd MBA Core Teaching Award, MBA for Executives Excellence in Teaching Award, the Frank M. Bass Outstanding Dissertation Award, three John D.C. Little Best Paper Finalist Awards, and two INFORMS Marketing Science Long Term Impact Finalist Awards.

Professor Bell teaches Marketing Management in the Wharton MBA and MBA for Executives Programs and Empirical Modeling in PhD program. He also teaches an elective course Digital Marketing and Electronic Commerce on both the Wharton | Philadelphia and Wharton | San Francisco campuses. He is the Academic Director for Wharton’s Advanced Management Program.

Professor Bell serves as an expert witness in intellectual property matters pertaining to individual choice behavior. Recent representative cases include Sky Technologies LLP v. SAP, Individual Network LLC v. Apple Inc., and TwoWay Media LLC v. America Online, Inc. (on behalf of the plaintiff; retained by Susman Godfrey) and Power Management Solutions LLC v. Intel Corporation (on behalf of the defendant; retained by WilmerHale).

Professor Bell is on the editorial boards of International Journal of Research in Marketing, Journal of Marketing, Journal of Marketing Research, Journal of Retailing, and Marketing Science. He holds a Ph.D. from the Graduate School of Business at Stanford University, an MS in Statistics from Stanford University, an MA (Honorary) from the University of Pennsylvania, an M.Com (1st Class Honors) and B.Com from the University of Auckland, New Zealand.<!EndFragment>

Kathleen Li and David Bell (Working), Augmented DifferenceinDifferences: Estimation and Inference of Average Treatment Effects.

Kathleen Li and David Bell (2017), Estimation of average treatment effects with panel data: Asymptotic theory and implementation , Journal of Econometrics , 197, pp. 6575.

David Bell, Location Is (Still) Everything: The Surprising Influence of the Real World on How We Search, Shop, and Sell in the Virtual One (2014)

Jae Young Lee and David Bell (Work In Progress), Social Learning and Awareness Diffusion for Online Retail Trials.

Jae Young Lee and David Bell (2013), Neighborhood Social Capital and Social Learning for Experience Attributes of Products , Marketing Science.

Robert Meyer, Joachim Vosgerau, Vishal Singh, Joel Urbany, Gal Zauberman, Michael Norton, Tony Cui, Brian Ratchford, Alessandro Acquisiti, David Bell, Barbara E. Kahn (2013), Behavioral Research and Empirical Modeling of Marketing Channels: Implications for Both Fields and a Call for Future Research , Marketing Letters, 21, pp. 301315.

Abstract: Game theoretic models of marketing channels typically rely on simplifying assumptions that, from a behavioral perspective, often appear naïve. However, behavioral researchers have produced such an abundance of behavioral regularities that they are impossible to incorporate into game theoretic models. We believe that a focus on three core findings would benefit both fields; these are: first, beliefs that are held by the various players regarding profit consequences of different actions are incomplete and often biased; second, players’ preferences and optimization objectives are not commonly known; and third, players have insufficient cognitive abilities to achieve optimization objectives. Embracing these three findings shifts the focus from rational decision making to how decision makers learn to improve their decisionmaking skills. Concluding, we believe that greater convergence of game theoretic modeling and behavioral research in marketing channels would lead to new insights for both fields.

David Bell, JeongHye Choi, Leonard Lodish (2012), What Matters Most in Internet Retailing, MIT Sloan Management Review, 54, pp. 2733.

Jeonghye Choi, David Bell, Leonard Lodish (2012), Traditional and ISEnabled Customer Acquisition on the Internet , Management Science, 58, pp. 754769.

Preyas Desai, David Bell, Gary Lilien, David Soberman (2012), Editorial: The SciencetoPractice Initiative: Getting New Marketing Science Thinking into the Real World , Marketing Science, 31 (1), 13.

George Knox, David Bell, Daniel Corsten (2012), Situational Determinants of Unplanned Buying in Emerging and Developed Markets , Marketing Science Institute Working Paper.

Abstract:   Developed and emerging markets differ in many respects, so it is natural to think that instore decisionmaking would differ across these contexts. We provide an alternative view by undertaking a crosscountry validation study of the situational determinants of unplanned buying. Our unit of analysis is the shopping trip and our models are estimated on triptotrip changes in unplanned buying; our findings—based on panel data from Brazil, China, The Netherlands and the United States—help establish several empirical generalizations.. We find that unplanned buying increases monotonically with the level of abstraction of the shopping trip goal and that the magnitude of the increase is remarkably similar in all four countries. Tripspecific store choice reasons such as choosing a store for low prices also affect unplanned buying in similar ways across countries, although the magnitude of the effect varies. Finally, we suggest that unplanned buying may not be incremental from the perspective of the shopper—it may lead to intertemporal crosstrip substitution by lowering spending on a subsequent trip. Implications for manufacturers and retailers are discussed. 

Past Courses

MKTG212 DATA & ANLZ FOR MKTG DEC

Firms have access to detailed data of customers and past marketing actions. Such data may include instore and online customer transactions, customer surveys as well as prices and advertising. Using realworld applications from various industries, the goal of the course is to familiarize students with several types of managerial problems as well as data sources and techniques, commonly employed in making effective marketing decisions. The course would involve formulating critical managerial problems, developing relevant hypotheses, analyzing data and, most importantly, drawing inferences and telling convincing narratives, with a view of yielding actionable results.

MKTG227 MKTG AND ELECTRONIC COMM

The effect of the Internet and related technologies on business and social institutions is more profound than that of any prior invention, including the printing press and the internal combustion engine. Furthermore, marketing is critical to the success of firms that will shape the consumptionled economies that are fueled by these technologies. MKTG 227 provides a researchbased and frameworkdriven approach to succeeding in this environment, through a rigorous approach to understanding digital marketing and electronic commerce. ,The course is organized into two sections and utilizes relevant theory, empirical analysis, and practical examples, to develop the key learning points. Guests from the entrepreneur and investor communities participate as well, as appropriate. Part I presents the behavioral foundations for understanding commerce and emerging business models, and covers the relevant phenomena and theory from economics, marketing, and related fields. Part II focuses on the principles and mechanics of digital marketing tools and tactics, and also briefly covers social commerce and new media.

MKTG270 DGTL SOCIAL & ECOM MKTG

MKTG 270 explores the digital marketing environment from both a consumer and business perspective. The course provides an overview of various online business models and delves into digital advertising and social media marketing techniques and technologies. A mixture of case studies, guest speakers and assignments, including one that uses real advertising data, translates theory into practice. It is recommended that students enrolling in the course be comfortable using Excel and are knowledgeable in applying regression analysis techniques. Students who would prefer a less technical course may wish to take MKTG 227, Digital Marketing and Electronic Commerce, a half cu course offered by the department.

MKTG611 MARKETING MANAGEMENT

This course addresses how to design and implement the best combination of marketing efforts to carry out a firm's strategy in its target markets. Specifically, this course seeks to develop the student's (1) understanding of how the firm can benefit by creating and delivering value to its customers, and stakeholders, and (2) skills in applying the analytical concepts and tools of marketing to such decisions as segmentation and targeting, branding, pricing, distribution, and promotion. The course uses lectures and case discussions, case writeups, student presentations, and a comprehensive final examination to achieve these objectives.

MKTG727 MKTG AND ELECTRONIC COMM

The effect of the Internet and related technologies on business and social institutions is more profound than that of any prior invention, including the printing press and the internal combustion engine. Furthermore, marketing plays a key role in shaping the modern consumptionled economies fueled by these technologies. MKTG 727 provides a researchbased and frameworkdriven approach to understanding digital marketing and electronic commerce. ,The course is organized around three sections and utilizes relevant theory, empirical analysis, and practical examples to develop the key learning points. Part I presents will establish the behavioral foundations for understanding electronic commerce and covers relevant phenomena and theory from economics, marketing, and related fields. Part II examines ecommerce business models and institutions including Internet retail, subscription commerce, curated commerce and so on. Part III focuses on how digital marketing fosters ecommerce business growth. In particular, we survey, critique, and evaluate common digital marketing methods and tactics. ,Guests from the entrepreneur and investor communities participate, as appropriate (former and illustrative speakers include Pooja Batra (Bollywood Actress), Joe Cohen (Lore.com), Mike Cohen (Birchbox.com) and Rob Coneybeer (Shasta Ventures).

MKTG770 DGTL SOCIAL & ECOM MKTG

MKTG 770 explores the digital marketing environment from both a consumer and business perspective. The course provides an overview of various online business models and delves into digital advertising and social media marketing techniques and technologies. A mixture of case studies, guest speakers and assignments, including one that uses real advertising data, translates theory into practice. It is recommended that students enrolling in the course be comfortable using Excel and are knowledgeable in applying regression analysis techniques. Students who would prefer a less technical course may wish to take MKTG 727, Digital Marketing and Electronic Commerce, a half cu course offered by the department.

MKTG777 MARKETING STR

This course views marketing as both a general management responsibility and an orientation of an organization that helps one to create, capture and sustain customer value. The focus is on the business unit and its network of channels, customer relationships, and alliances. Specifically, the course attempts to help develop knowledge and skills in the application of advanced marketing frameworks, concepts, and methods for making strategic choices at the business level.

MKTG899 INDEPENDENT STUDY

A student contemplating an independent study project must first find a faculty member who agrees to supervise and approve the student's written proposal as an independent study (MKTG 899). If a student wishes the proposed work to be used to meet the ASP requirement, he/she should then submit the approved proposal to the MBA adviser who will determine if it is an appropriate substitute. Such substitutions will only be approved prior to the beginning of the semester.

MKTG995 DISSERTATION

MKTG999 INDEPENDENT STUDY

Requires written permission of instructor and the department graduate adviser.

Overall Best Paper Award 2014, Workshop on Information Systems and Economics (WISE), 2014 Description

For "Inventory Showrooms and Customer Migration in OmniChannel Retail: The Effect of Product Information" (with S. Gallino and T. Moreno)

2014 First Place Award, Productions and Operations Management Society Applied Research Challenge, 2014 Description

For "Inventory Showrooms and Customer Migration in OmniChannel Retail: The Effect of Product Information" (with S. Gallino and T. Moreno)

2010 AMA Innovation, Technology and Interactivity Best Article of the Year, 2011 Description

“Spatiotemporal Analysis of Imitation Behavior across New Buyers at an Online Grocery Retailer,” published in Journal of Marketing Research, 47 (February) 7589. (with J. Choi and S. Hui)

MillerSherrerd MBA Core Teaching Award, 2006, 2007, 2009, 2010 Finalist, INFORMS Long Term Impact Award for Marketing Science, 2010 Description

For “Looking for Loss Aversion in Scanner Panel Data: The Confounding Effect of Price Response Heterogeneity,” Marketing Science, 19, 2 (Spring), 185200. (with J. Lattin)

MBA Core Curriculum Award, “Above and beyond call of duty”, 2009 Finalist, INFORMS Long Term Impact Award for Marketing Science, 2009 Description

For “The Decomposition of Promotional Response: An Empirical Generalization,” Marketing Science, 18, 4 (Fall), 50426. (with J. Chiang, V. Padmanabhan)

  • MBA for Executives (West) Elective Teaching Award, 2005, 2006, 2007
  • MBA Core Curriculum Award, “Above and beyond call of duty”, 2006
  • Outstanding Reviewer Award, Journal of Retailing, 2005
  • MBA for Executives (East) Elective Teaching Award, 2004, 2005 Description

Marketing Strategy

John D.C. Little Best Paper Award Finalist, 2004 Description

For "Creating WinWin Trade Promotions: Theory and Empirical Analysis of Scanback Trade Deals,” Marketing Science, 22 (1), 1639. (with X. Dreze)

Marketing Science Institute Young Scholars Program, 2002 John D.C. Little Best Paper Award Finalist, 2001 Description

For “Looking for Loss Aversion in Scanner Panel Data: The Confounding Effect of Price Response Heterogeneity,” Marketing Science, 19, 2 (Spring), 185200. (with J. Lattin)

Frank M. Bass Outstanding Dissertation Award, 2000 Description

For “Shopping Behavior and Consumer Preference for Retail Price Format: Why Large Basket’ Shoppers Prefer EDLP,” Marketing Science, 17, 1 (Winter), 6688. (with J. Lattin)

John D.C. Little Best Paper Award Finalist, 1998 Description

For “Shopping Behavior and Consumer Preference for Retail Price Format: Why Large Basket’ Shoppers Prefer EDLP,” Marketing Science, 17, 1 (Winter), 6688. (with J. Lattin)

Winner, Alden G. Clayton Doctoral Dissertation Proposal Award, 1994

Are Pop Up Stores Here to Stay?, Knowledge@Wharton 05/22/2013 J.C. Penney Faces ‘Race to the Bottom’ on Prices: Bell, Bloomberg TV 04/09/2013

Knowledge @ Wharton

  • Can Instore ‘Experiences’ Save Retail?, Knowledge @ Wharton 07/07/2017
  • Amazon vs. Walmart: Which One Will Prevail?, Knowledge @ Wharton 06/27/2017
  • How Close Community Ties Can Drive Online Sales, Knowledge @ Wharton 04/21/2017
  • Omnichannel 2.0: Delivering a Tailored Experience to Customers, Knowledge @ Wharton 12/14/2016
  • Why Retailers Could Pay a Price for Not Accepting Mobile Payments, Knowledge @ Wharton 11/22/2016
  • How “Pokemon Go” Took Augmented Reality Mainstream, Knowledge @ Wharton 07/21/2016
  • How Can Pharma Firms Market Their Way Back to Growth?, Knowledge @ Wharton 04/27/2016
  • ‘Millennials on Steroids’: Is Your Brand Ready for Generation Z?, Knowledge @ Wharton 09/28/2015
  • When Does the ‘Human Touch’ Matter in Retail?, Knowledge @ Wharton 03/04/2015
  • How Where You Live Impacts the Way You Use the Internet, Knowledge @ Wharton 08/20/2014
  • Why Location is King for Ecommerce, Too, Knowledge @ Wharton 07/31/2014
  • Domain Name Land Rush: More Room for Companies, Competition and Scam Artists, Knowledge @ Wharton 05/21/2014
  • The Feedback Loop: More Data Doesn’t Always Mean Better Customer Service, Knowledge @ Wharton 04/23/2014
  • Rest in Peace: Planning for Your Demise, Digitally, Knowledge @ Wharton 03/26/2014
  • Most Wanted: ‘Next Generation Thinking’ to Combat Cyber Crime, Knowledge @ Wharton 03/05/2014
  • Thanksgiving Shopping: Can It Turn Retail Revenues from Bleak to Black?, Knowledge @ Wharton 11/26/2013
  • Nike FuelBand: Did the Brand Score a Goal?, Knowledge @ Wharton 11/25/2013
  • ‘Small Box’ Retail: Passing Fad or ‘Eureka Moment’ for eCommerce?, Knowledge @ Wharton 10/10/2013
  • Can Raghuram Rajan Reverse the Indian Economy’s Decline?, Knowledge @ Wharton 09/16/2013
  • Are Popup Stores Here to Stay?, Knowledge @ Wharton 05/22/2013
  • What Eyewear Startup Warby Parker Sees That Others Don’t, Knowledge @ Wharton 05/08/2013
  • Joe Fresh Boosts J.C. Penney — But Will It Last?, Knowledge @ Wharton 03/25/2013
  • Sameday Delivery: This Time, It Might Actually Work, Knowledge @ Wharton 12/12/2012
  • Convincing the Swing Vote: How to Lure ‘Noncustomers’, Knowledge @ Wharton 09/26/2012
  • Turning the Retail ‘Showrooming Effect’ into a Valueadd, Knowledge @ Wharton 09/26/2012
  • ‘Lucky’ Shifts from Recommender to Retailer: Will Readers Follow?, Knowledge @ Wharton 08/16/2012
  • When Retailers Make Strange Bedfellows, Knowledge @ Wharton 07/13/2012
  • Etsy Seeks Scale without Losing Its ‘Street Fair’ Aesthetic, Knowledge @ Wharton 05/09/2012
  • New Retail Strategies: Offering a Better Fit for Today’s Careful Consumers, Knowledge @ Wharton 08/31/2011
  • Want to Rent out That Spare Room? The Growing Popularity of ‘Collaborative Consumption’, Knowledge @ Wharton 08/25/2011
  • Marketing to China’s Youth: Fitting In and Standing Out, Knowledge @ Wharton 08/24/2011
  • Shaping Up Is Hard to Do, Knowledge @ Wharton 08/23/2011
  • Can J.C. Penney’s New CEO Reinvent the Department Store?, Knowledge @ Wharton 07/20/2011
  • Manystop Shopping? How Niche Retailers Are Thriving on Internet 2.0, Knowledge @ Wharton 05/11/2011
  • Nickeled and Dimed: Is It Possible to ‘Overfee’ Consumers?, Knowledge @ Wharton 04/13/2011
  • Power to the People or Just a Fad? Forecasting the Future of Group Buying Sites, Knowledge @ Wharton 11/10/2010
  • Can Twitter Promote Itself into Profitability?, Knowledge @ Wharton 05/26/2010
  • Geography Lesson: Why Internet Retailers Should Pay Attention to Where Potential Customers Live, Knowledge @ Wharton 03/17/2010
  • Social Tremors, Knowledge @ Wharton 11/05/2009
  • Company Stores vs. Independent Retailers: Clash or Peaceful Coexistence?, Knowledge @ Wharton 10/28/2009
  • Not on the List? The Truth about Impulse Purchases, Knowledge @ Wharton 01/07/2009
  • Losing Their Cool: The Downside of Expanding Hot Social Networking Sites, Knowledge @ Wharton 09/20/2006
  • WalMart: Is There a Downside to Going Upscale?, Knowledge @ Wharton 06/14/2006
  • If You Were in Charge, How Would You Market These Products?, Knowledge @ Wharton 05/31/2006
  • MySpace, Facebook and Other Social Networking Sites: Hot Today, Gone Tomorrow?, Knowledge @ Wharton 05/03/2006
  • How the Offer of ‘Free Shipping’ Affects Online Shopping, Knowledge @ Wharton 04/19/2006
  • Sirius Satellite Radio and Howard Stern Go Ear to Ear with XM, Knowledge @ Wharton 02/22/2006
  • Attention Shoppers: Great Deals in Retail Mergers, Knowledge @ Wharton 03/30/2005
  • What’s the Buzz About Buzz Marketing?, Knowledge @ Wharton 01/12/2005
  • How “Social Contagion” Affects Consumers’ Willingness to Try Online Retailers, Knowledge @ Wharton 10/20/2004
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