Television advertisements lead to spikes in internet searches for the brand advertised as well as competitors, according to a study by Rady School Associate Professor Kenneth Wilbur and colleagues, Linli Xiu from the University of Minnesota and Rex Du from the University of Houston.
“Marketers are slowly figuring out that what you say in TV affects what people do on Facebook, Google, Twitter and other digital platforms,” said Wilbur. “Historically, communication efforts have lived within separate silos. Today, some organizations are figuring out that these things need to be managed holistically.”
Researchers studied the relationship between television advertisements and internet search spikes in fantasy sports brands and pickup truck brands. In the fantasy sports brands study, researchers found that advertisement content and media factors explained an incremental 54 percent of the variation in post-ad search spikes.
In the pickup truck brands study, which analyzed brand search data from 500,000 minutes and audience data for 40,000 national television advertisements, 75 percent of the incremental search occurs in the two minutes following an advertisement.
Both studies showed that brand-focused ads produced larger search spikes than price-focused ads, and that less informative ads produced larger spikes than more informative ads. Spikes also varied based on the network on which the ad aired and the genre of programming.
Overall, the studies suggest that television advertisements with small audiences produce significant search spokes in the two minutes after the ad airs. As such, post-ad search spikes are important for marketers to consider in conjunction with other metrics.
“The field has shown great interest in the paper. I recently presented results at the Advertising Research Foundation annual conference, a Marketing Science Institute conference, Cornell and Berkeley. Next week I will give the talk at Emory and Google, and then at Kaiser Permanente in May. Google and Kaiser both are discussing the possibility of follow-up research,” said Wilbur.
How do TV Ads Influence Searches? was last modified: September 5th, 2017 by Aleena Karamally
The California Institute for Innovation and Development (CIID) at the Rady School of Management has inducted a new advisory board, consisting of Rady School professors, successful alumni and industry leaders. New members will continue the board’s mission of supporting and building CIID programs to help teams succeed at the Rady School and beyond.
Some of the new board members include Steve Poizner, the Rady School’s former Entrepreneur in Residence; Vish Krishnan, professor of Professor of Innovation, Technology and Operations at the Rady School; Rady School Dean Robert Sullivan; Jimmy Anklesaria, a Rady School lecturer, donor and founder of Anklesaria Group, Inc.; Lada Rasochova, CIID Executive Director; and Kim Davis King, a Rady School lecturer. Alumni board members are Silvia Mah, Founder and Executive Director, Hera-Labs; Pierre Sleiman, Founder and CEO of Go Green Agriculture; and Ashley Van Zeeland, Chief Technology Officer, Human Longevity — all of whom have created successful businesses. In addition, business community members Leah Bissonette, Principal of The Energy Biss; Robert Hemphill, President and CEO of AES Solar Power, LLC; Allison Long Pettine, Founding Partner of SEED; Jeb Spencer, Co-Founder of TVC Capital; are also part of the new advisory board.
California Institute for Innovation and Development programs
The CIID was founded as a center to facilitate innovation and entrepreneurship throughout the University of California. CIID hosts a wide variety of ongoing and annual programs each year to support students, faculty and staff associated with UC San Diego in their entrepreneurial pursuits.
CIID programs include StartR, an accelerator program for Rady School students and alumni, as well as mystartupXX, an accelerator program exclusively for female students at UC San Diego. In addition, CIID hosts IdeaConnect, which aims to link together individuals on campus who have technical knowledge with those who have business knowledge in order to facilitate innovation, and the Triton Innovation Challenge, a competition for all UC San Diego students, faculty, and staff to promote environmentally-friendly entrepreneurship.
The Proof of Relevance Competition, another competition through CIID, is aimed at UC San Diego members who have an idea in need of market research. Another CIID program, the Rady Venture Fund, provides hands-on learning opportunities for Rady School students, as well as capital for entrepreneurs. Lastly, Rady Innovation Fellows provides assistance to UC San Diego faculty and students interested in commercializing their breakthroughs and research.
Introducing the New CIID Advisory Board was last modified: September 5th, 2017 by Aleena Karamally
For decades, insufficient physical activity has been identified as a leading cause of many non-communicable diseases, including strokes, diabetes, heart disease and some kinds of cancer. Still, according to objective measurement approximately 96 percent of adults 20 to 59 in the U.S. do not meet the guidelines of 150 minutes of moderate physical activity and 75 minutes of vigorous physical activity per week.
On Amir, associate professor of Marketing at the Rady School of Management, recently co-authored a paper, Physical Activity Counseling in Primary Care: Insights From Public Health and Behavioral Economics, which helps address this issue. The paper uses principles of behavioral economics to apply an existing method of advising, the 5A framework, to the integration of physical activity counseling into primary care as a preventative medicine measure.
The 5A Framework involves a five-step plan to addressing an insufficient amount of physical activity in a patient’s life. The five steps are assess current physical activity levels, advise on increasing activity levels in relation to patient’s lab reports, agree on a physical activity plan with attainable goals and specific information on frequency and intensity, assist in creating strategies to overcome impediments to meeting goals, and arrange follow-up visits and reminders.
Overall, the paper uses principles of behavioral economics to analyze the reasons for decisions to engage in physical activity. Using these principles, the paper suggests the most effective methods of physical activity counseling for primary care physicians. It also notes the necessity for future research in determining the efficacy of these strategies in a clinical setting.
Using Behavioral Economics to Get Fit was last modified: September 5th, 2017 by Aleena Karamally
On the surface, it may seem that baseball cards and stock market trends are completely unrelated – but a recent study by Rady School professor Joseph Engelberg along with Linh Le and Jared Williams from the University of Florida found that the market for baseball cards shares many of the same anomalies that have been documented in financial markets.
In a study of the value of approximately 38,000 baseball cards issued from 1948 to 1996, researchers found that the market for baseball cards featured momentum, price drift in the direction of previous performance and IPO underperformance, much like studies of the stock market.
The findings regarding momentum support the idea that momentum arises because information gradually diffuses across a market. Engelberg, Le and Williams correctly predicted that because of less sophistication in traders of baseball cards (who are mostly younger), momentum would be greater. The researchers concluded that holding outperforming cards for a three-month period generated a 5.6 percent monthly return, compared to the less than 1 percent earned by momentum strategies in the stock market.
Like stocks, price drift in baseball cards occurs in the direction of previous performance. Researchers found that cards that had previously performed well continued to perform better than cards that had previously performed more poorly.
A parallel for IPO underperformance can be seen in newly issued cards and those of rookies. Both Initial Public Offerings of stocks in the stock market and these new cards in the market for baseball cards tend to underperform for a sustained amount of time.
Engelberg, Le and Williams’ research is significant because it supports the idea that financial theories of momentum, price drift, and IPO performance can exist naturally in markets, which do not include factors like dynamic growth rates, dividends or mutual funds.
Stock Market Not So Different from Baseball Cards was last modified: September 5th, 2017 by Aleena Karamally
Study Abroad programs are an exciting real-world experience that allow students to learn about foreign business hands-on. The Rady School offers a variety of study abroad opportunities for both undergraduate and graduate students with different destinations, classes and experiences.
Undergraduate
Rady School undergraduate study abroad programs are organized through UC San Diego’s Study Abroad Office. Students may apply classes taken abroad to their Rady School minor after obtaining approval from Undergraduate Academic Advisors. As such, undergraduate students have considerable freedom in choosing their classes, length of stay, and destination.
Experiences
International Studies-Business major Kimberly Phan chose to study abroad at the University of Hong Kong during her junior year. Phan took four classes in business, and enjoyed experiencing a university and culture different from what she was familiar with. She also enjoyed traveling to different countries and exploring the city of Hong Kong between classes.
“Studying abroad can help challenge your comfort zone and help you put yourself out there, which is a necessary skill, which we commonly know as ‘networking,’” Phan said. “My biggest advice for anyone studying abroad is to be open-minded to everything that awaits you abroad and roll with the punches.”
Rady School Business Minor James Truong took a course in Foreign Business Investments in Chinese Financial Markets located in Shanghai, China. Truong enjoyed working with local students, which allowed him to improve his language skills and better understand the culture.
“[Study abroad] empowered me by challenging my ability to adapt to foreign and international environments; work with students from different cultural, academic, and linguistic backgrounds; and thrive in varied intellectual spheres,” said Truong. “Many beliefs you profoundly hold to be foundational to your identity may be challenged abroad. When that happens, don’t entirely resist before being open to it first. You might get something better out of it.”
Graduate
Rady School graduate students have unique opportunities to participate in immersion trips, student-organized trips, and foreign exchange programs. These trips allow students to gain a much deeper knowledge of the topics which they study in the classroom, as well as network with foreign businesses and executives.
Israel and China immersion trips
Some of the Rady School’s most popular study abroad experiences are the immersion trips to Israel with Professor Uri Gneezy and China with Professor Jun Liu. The US-Israel Center of Innovation and Economic Sustainability (USIC) funds all expenses for the Israel immersion program, which includes four class meetings on the Rady School campus during the fall quarter and a ten-day trip to Israel. Students meet business executives and public figures in Israel, and then spend a portion of their trip on cultural exposure, including hikes, historical visits, and authentic cuisine.
Professor Jun Chen’s China trip follows a similar format, with students meeting during Spring Quarter and traveling during Winter Break. The China program is more finance-oriented, and students learn from executives, tour companies, and network with business leaders to enhance their knowledge of the expanding entrepreneurial market in China.
Student-organized trips and foreign exchange programs
Graduate students at the Rady School also have the opportunity to organize international trips individually or through one of Rady’s many student clubs or organizations. In the past, the International Business Club and Asian Business Club have organized trips to China, Brazil, and India. Often, these students are introduced to executives through Rady School faculty and staff. These trips provide an opportunity for students to explore new countries and learn about different business formats in a more relaxed environment than immersion trips.
Foreign exchange programs are organized on a case-by-case basis. Students are encouraged to speak with an advisor six to nine months prior to when they hope to travel to explore current available opportunities.
Study Abroad Opportunities for Rady School Students was last modified: September 5th, 2017 by Aleena Karamally
Colorectal cancer is the second leading cause of cancer death in the U.S. However, motivating individuals to be screened for colorectal cancer, especially those with financial barriers or a fear of screening methods, has proved challenging.
Principles of behavioral economics show that financial incentives can be used to alter behavior. As such, offering a small financial incentive to vulnerable populations has been suggested as a solution to insufficient colorectal cancer screening rates. Rady School Associate Professor Ayelet Gneezy recently conducted and published a study in which primary care patients were mailed colorectal test outreach, outreach plus a $5 incentive, or outreach plus a $10 incentive.
The necessary screening completion rates of the groups were 36.9 percent with a financial incentive, compared to 36.2 percent with no financial incentive. These results did not vary significantly based on age, sex, ethnicity, or neighborhood poverty rate. As a result, the study concludes that financial incentives in the amount of $5 or $10 do not have any significant effect on completion of colorectal cancer screening.
The study was conducted in Fort Worth, Texas on a sample of 10,000 uninsured individuals aged 50 to 64 who had visited their primary care physician at least once in the previous year. Individuals were randomly assigned to be in either the control group with no financial incentive, in the $5 compensation group, or in the $10 compensation group.
These findings are some of the first regarding small financial incentives and cancer screening. Although they cannot be applied to other types of cancer screening or larger financial incentives, the findings are important in understanding the applications of behavioral economics.
The Effectiveness of Financial Incentives in Promoting Cancer Screening was last modified: September 5th, 2017 by Aleena Karamally
Building a business from the ground up is a daunting task that not all people have the ability to complete. The Rady School gives individuals the knowledge and connections they need to succeed as entrepreneurs, but successful entrepreneurs need to develop certain qualities and characteristics as well. Entrepreneurs come from all different backgrounds and places, but here are five important characteristics that all successful entrepreneurs share.
1) Strong networking abilities
A key part of being an entrepreneur is developing a network. While schools and events can provide an introduction, successful entrepreneurs must know how to maximize these opportunities to develop connections with experienced people in their field, investors, or advisors through strong networking skills.
2)A tolerance for risk
Entrepreneurial ventures are inherently risky. While researching your market and testing your product can reduce your risk, entrepreneurs still must be able to tolerate and take risks in order to become successful.
3)Adaptability and flexibility when faced with the unexpected
While being an entrepreneur requires a great deal of dedication to your ideas and belief in yourself, successful entrepreneurs also know when to be flexible and adapt their plans in order to maximize their product’s potential. There are many unknowns when starting a business, and being able and willing to adapt your plan when faced with an unexpected circumstance or outcome is necessary for success.
4)A thorough understanding of your market
In order to produce a popular and successful product, entrepreneurs must be actively engaged with their market and develop a deep understanding of who they are and what they want. This allows entrepreneurs to adjust their products to stay relevant to the market and update their products when necessary.
Extreme dedication to your product and perseverance
To be an entrepreneur you have to be completely sure that the world needs your product and that you have the ability to create and deliver it. Entrepreneurs face many failures and negative feedback in their journeys from idea to product, and overcoming that takes extreme confidence in yourself, your product, and your team.
Five Characteristics of Successful Entrepreneurs was last modified: September 5th, 2017 by Aleena Karamally
Getting an MBA is no easy feat. It takes an abundance of ambition, drive and determination to tackle papers, projects and readings. But how do you manage your course load while maintaining a healthy personal life? Here are five tips to help students pursuing an MBA find a balance for their busy schedules.
1) Make sure you have family support before choosing to pursue your MBA
Choosing to pursue an MBA program can be a huge time and financial commitment which will undoubtedly affect not only your life, but also the lives of your loved ones and possibly your performance at work. Ensuring you have your family and even your employer’s support before you commit to a program will be essential to your work-school-life balance.
2) Schedule time for work, studies, family and yourself
Finding time for every aspect of your life can be extremely difficult, especially if you’re working on a large project for work or during finals. Scheduling your time and allocating hours to every important category of your life can help you to stay on track and force you to get your work done instead of procrastinating. Make time for your studies, but also for your loved ones and activities you enjoy to stay grounded.
3) Balance course difficulty each semester
Balancing difficult courses with easier ones each quarter will help you to control how much time you spend on your studies, therefore giving you more time for work and personal commitments. This will significantly improve your work-school-life balance. Be sure to do your research before selecting your course schedule each quarter to determine which classes require the most time. Speak with professors beforehand to get an idea of what they expect from you, and what you can expect from them.
4) Manage stress through healthy lifestyle choices
Managing your stress through healthy lifestyle choices can greatly improve your quality of life. Use your study breaks to get outside or exercise or pack healthy lunches and snacks for yourself to eat throughout your busy day at work or school. Living in San Diego affords residents numerous opportunities to get outside and enjoy the beautiful weather and landscapes. Take a run on the beach, a stroll through the city, a swim in the ocean or a hike in the mountains.
5) Be honest about your limitations
No matter how well you schedule your time or prepare, recognizing your limitations is essential to preventing yourself from burn out. Don’t be afraid to say no to extra work sometimes or request extensions when you know you will be busy. Be open and honest about your time commitments, and make sure you don’t overcommit to anything you might not be able to handle.
Finding a Work-School-Life Balance as an MBA Student was last modified: September 5th, 2017 by Aleena Karamally
Finding the right internship takes time and strategy. Before you begin your search, think about what you want to get out of your internship. Consider the job functions, potential professional connections, and how the experience will factor into your career development.
Once you have done your research and created a list of potential companies, utilize your resources at the Rady School to maximize your chances of securing an interview. In the past, students from the Rady School have secured internships through networking at campus job fairs, introductions from the Bay Area trek, and connections with alumni. Rady Graduate Career Connections offers services for students to sharpen their resumes and do mock interviews. Before you submit your application, review your online presence and improve your LinkedIn profile with these tips.
“If not for the Rady School’s amazing faculty and staff, I would have never gotten this internship, let alone excelled at it. They go above and beyond for their students and I am lucky enough to benefit from their efforts,” said Kimberly Gossard (MBA ’16) of her internship at the Aquarium of the Pacific.
Ways to Make the Most of Your MBA Internship
Think back to why you chose your internship and identify goals of what you want to get out of the experience. Looking to transition to a new industry? Learn as much as possible and take advantage of the networking opportunities available to you. Want to build your skills in a particular area? Aim to find a mentor who can help teach and guide you.
Rady MBA students share how they made the most of their MBA internship experiences:
1. Build off of your existing passions and interests
“I knew I had an interest in government, and I knew that was very unique for a MBA candidate,” said Matthew Cohen about the beginning of his internship search. Cohen spent his summer working for the City of San Diego, where he was able to use his MBA skills while simultaneously exploring his interest in government.
Rady School students have worked at all kinds of institutions, including The Aquarium of the Pacific in Long Beach and a film company in Beijing, China. All students were able to apply the skills they learned at the Rady School.
2. Use the experience to discover what you love
“Having come straight from my undergraduate studies to the Rady School, I knew I was not prepared to choose a specific business function on which to focus my career search. After being exposed to public relations and communications in various forms over the last several months, that has now become the focus for my future career,” said Cohen (MBA ’16) of his internship at the City of San Diego.
3. Take advantage of the opportunity to discover a new city
“I challenged myself by taking the risk of working in a new area, which is some 2000 miles away from my home (San Jose, CA). The safe move would have been working for a startup in the Bay Area, where I’ve lived for most of my life,” said Aaron Chiu (MBA ’16) of his internship at Eaton Corporation in Ellisville, MO.
Living in a new city will give you the opportunity to explore and experience a new place while developing your professional skills and expanding your network.
4. Personalize your own position
Choose an internship that allows for some flexibility. An internship is essential to your professional and personal development, and can be an important gateway to securing a job in the future.
“The right internships can be molded to fit your learning style, goals, and objectives. In essence, internships are what you make of them,” said Gossard.
5. Apply your Rady MBA skills to your job functions
“Without the lessons I learned during my first year at the Rady School, I would have lacked even the most basic vocabulary to understand what was going on around me. I feel that my MBA program gave me the tools to insert myself into Human Longevity Inc’s (HLI) activities, in an effective and efficient manner,” said Francisco Uribe (MBA ’16) of his internship at HLI.
For example, Nicholas Bernard (MBA ’16), who interned at Cisco utilized the skills he learned in various courses at the Rady School during his time at Cisco.
“My Leadership Skills, Values, and Teamwork in Technology Firms MBA course gave me the intellectual capacity to learn, participate, and grow within my team as well as understand the organizational culture of Cisco and how to succeed within it,” said Bernard.
6. Create meaningful connections
“I’ve seen firsthand how absolutely vital it is to build meaningful relationships with colleagues and make meeting new people a priority. Indeed, I got an early call from Kaiser Permanente through a contact I made on Rady’s Bay Area Trek. I’ve made connecting with others a priority at Kaiser Permanente and have many wonderful new friends to show for it,” said Allison Noel (MBA ’16).
A strong professional network is essential to any career field, and an internship is an excellent way to develop your network.
7. Seek diverse experiences
“Determining what job function, role or company I should aspire to apply to during my internship search seemed like a mammoth task. The only thing I was clear about was that I wanted an entirely different work experience compared to that of my previous work experience as a data analyst,” said Raymond Guo (MBA ’16) who interned at PayPal.
Diverse work experience will build your resume and help you set yourself apart in the job market. In addition, you will be able to explore new career fields without a long-term commitment or investment.
8. Use your internship as a starting point
Utilize the connections you make and the environment that you work in to continue your career development and create new opportunities for yourself.
“I began looking for ways to leverage my position with the City in order to move closer to the center of the government. I looked online for internships with the Office of Mayor Kevin L. Faulconer, and after finding a contact, applied right away. Based on my qualifications, I was offered a position as a Policy and Communications Intern,” said Cohen.
Aleena Karamally is a student writer for the Rady School and a freshman at UC San Diego. She is a Human Development major and a member of the UC San Diego Equestrian Team.
The Complete Guide to Your MBA Internship was last modified: September 5th, 2017 by Aleena Karamally
Tim Wollaeger recently spoke to Rady School students, faculty and staff at the Rady Executive Breakfast Series about his three keys to success: adaptability to change, a focus on getting things done and team building and networking.
Wollaeger, Managing Director Emeritus at Sanderling Ventures, has over 40 years of experience in the medical products and biotechnology fields in both corporate management and venture capital.
In his advice to current students and aspiring entrepreneurs, Wollaeger highlighted the importance of an adaptability to change.
“You will be working on things that don’t currently exist,” said Wollaeger.
In addition, Wollaeger said that a focus on getting things done will give individuals an advantage in the job market and make them valuable team members. He also emphasized the importance of building and maintaining a strong team and network, citing the individuals who have moved with him throughout his career.
He began his career in the Navy, before receiving an MBA from Stanford Business School. Upon graduating, Wollaeger joined Baxter-Travenol and eventually became the General Manager of a foreign subsidiary in Mexico.
From his experience restructuring the plant in Mexico, Wollaeger learned the importance of team building. He credits the team’s strong morale and cohesiveness for their ability to overcome the most challenging obstacles and go from losing money to becoming the most profitable subsidiary in just a few years.
In 1983 Wollaeger joined Hybridtech, San Diego’s first biotechnology company, as Vice President and Chief Financial Officer. Hybridtech partnered with several other companies and individuals to cultivate the biotechnology community.
Wollaeger later became a founding General Partner of Biovest, a San Diego based Venture Capital Firm. One of the four companies he helped found at Biovest was Pyxis, a computer controlled cabinet to monitor and dispense drugs in hospitals. According to Wollaeger, although Pyxis would eventually become an extremely profitable company with a widespread presence in health care, the company sold just twelve units in the first 3 years. It grew into a public company with more than 1,500 employees and in 1996 was acquired by Cardinal Health in a corporate buyout that was just short of $1 billion.
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Aleena Karamally is a student writer for the Rady School of Management and a sophomore at UC San Diego. She is a Human Development major and a member of the UC San Diego Equestrian Team.
Rady Executive Breakfast Series Recap: Tim Wollaeger, Sanderling Ventures was last modified: August 29th, 2017 by Aleena Karamally