Marketing is the study of how organisations interact with customers (and vice versa). As such, it focuses on how organisations create value for customers and capture value from customers in return. The academic discipline of Marketing is divided into three broad areas or sub-fields: marketing strategy, marketing modelling and consumer behaviour.
Research in the marketing strategy field considers a firm’s interactions with its customers (and external stakeholders more generally) from the perspective of the firm’s managers. Through the quantitative analysis of empirical data, researchers in this sub-field address questions that link a firm’s performance with its actions and those of its managers vis-à-vis external stakeholders.
The marketing modelling sub-field involves economically analysing the interactions between firms and consumers. Researchers in this field use analytical modelling with a game theory approach, the econometric analysis of empirical data and experimental economics methods to address their research questions.
Research into consumer behaviour considers the psychology of how consumers think, feel and reason as well as choose between different marketplace alternatives. Here, researchers draw heavily upon the theories and methodologies of experimental psychology and experimental social psychology in particular.
In the Marketing Group you’ll find scholars from each of these sub-fields, including marketing strategy (Ahmed Khwaja, Jaideep Prabhu, Eden Yin), marketing modelling (Ahmed Khwaja, Dominique Lauga, Shasha Lu), and consumer behaviour (Dominique Lauga, Vincent Mak). Our group members publish in leading international journals in areas such as marketing and innovation in emerging markets, experimental economics, econometrics, game theory and industrial organisation, innovation, unstructured and big data, and behavioural decision making.
As such, the context for study within the Marketing pathway is broad. To give you more of a taste, the phenomena and research questions currently being investigated by our faculty and PhD students include:
- The marketing practices of micro-entrepreneurs in low-income economies
- The extent to which consumers are able to wait strategically for future price markdowns and how this is affected by product scarcity
- How moral identity impact preferences for donating time vs money to charity