Marketing Cluster Seminar: Professor Peter Danaher
The seminar is open to all academics and research students. Please encourage your RHD students to attend.
The seminar will be followed by lunch for faculty at St Lucy's (12.30pm start).
Note: Peter will also be available for brief consultations with faculty and graduate students between the hours of 2-4pm. You can sign up for a meeting with Prof. Peter Danaher here.
Peter Danaher is the Coles Myer Chair of Marketing and Retailing at the Melbourne Business School in Australia. He was previously Professor and Chair of the Marketing Department at the University of Auckland in New Zealand. He has also held visiting positions at London Business School, The Wharton School and MIT. He has a PhD in statistics from Florida State University and an MS in statistics from Purdue. His primary research interests are media exposure distributions, advertising effectiveness, television audience measurement and behavior, internet usage behavior, customer satisfaction measurement, forecasting and sample surveys, resulting in many publications in journals such as the Journal of Marketing Research, Marketing Science, Journal of Marketing, Journal of Advertising Research, Journal of the American Statistical Association, Journal of Retailing, Journal of Business and Economic Statistics and theAmerican Statistician.
Advertising management, particularly media channel selection, has never been more challenging for marketing managers. The rapid and sustained rise of the internet has introduced several new attractive marketing communication channels, while traditional media still have much allure. The difficulty is that media budgets have remained almost static, but the number of available media outlets has proliferated. In this new media landscape one of the most pressing marketing issues today is how the various media channels compare in terms of effectiveness. The scale of this issue should not be underestimated, as the global spend on advertising now exceeds $500 billion. Within this total figure are several key trends in media budget allocation, with online advertising (display, sponsored search and social media) expenditure now exceeding newspapers, radio and magazines. Indeed, a recent survey of CMOs at Fortune 1000 companies reports they plan to decrease spend on traditional media (TV, radio and print) by 0.8% in the next 12 months while increasing online advertising spend by 12.8%. An unresolved question is whether or not such large shifts in media channel allocation are justified. To answer this question, firms need new methods to determine the relative effectiveness of the many media in which they advertise. In this presentation I will show how it is possible to determine the relative effectiveness of each media in a multimedia campaign. These techniques will be illustrated with examples from four different companies from Australia and the U.S.