LIFT PhD Survey Report:The Needs of Marketing Professors

Rob Schade Lance Bettencourt

© LIFT PhD 20151 © LIFT PhD 2015

Rob SchadeManaging PartnerLIFT PhD919‐617‐1359

Lance BettencourtManaging PartnerLIFT PhD812‐824‐2286

About the SurveyAbout the Survey

Objective To understand current activity access and interest in doing consulting and executive To understand current activity, access, and interest in doing consulting and executive 

education To prioritize professor motivations for consulting uncovered from in‐depth telephone 

interviews with 15 marketing professors

Survey Administration The survey was administered via web in January 2014. The survey was sent to a sample list of 468 professors across 36 universities in the United The survey was sent to a sample list of 468 professors across 36 universities in the United 

States. Completed or nearly completed surveys were received from 166 professors for a response 

rate of 35%. These professors came from 35 different universities. The professor sample was created as follows:

A list of universities for ACC, American Athletic Conference, Big 10, Big 12, Colonial, Conference USA, Ivy League, MAC, Pac12 & SEC was created and every third university in the list was selected.

A sample list of professors was created by gathering contact information for each marketing professor at each selected university.

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selected university.

Survey SampleSurvey Sample

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N = 166

Survey SampleSurvey Sample

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N = 166

ACTIVITY ACCESS & INTERESTACTIVITY, ACCESS, & INTEREST

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Access to Consulting & Exec EdAccess to Consulting & Exec Ed

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Exec Ed Activity & InterestExec Ed Activity & Interest

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CONSULTING MOTIVATIONSCONSULTING MOTIVATIONS

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Consulting Motivation RatingsConsulting Motivation Ratings

Please indicate HOW IMPORTANT each of the f ll i i l b fi f l i ifollowing potential benefits of consulting is to you. 5‐point scale: 1=Not Important at All; 2=Somewhat Important; 3=Important; 

4=Very Important; 5=Extremely Important

Please indicate HOW SATISFIED you are that each benefit is being met today based on the consulting opportunities that are available to you. 5‐point scale: 1=Not Satisfied at All; 2=Somewhat Satisfied; Satisfied; 4=Very 

Satisfied; 5=Extremely Satisfied

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Professor Need PrioritiesProfessor Need PrioritiesTOP2BOX % RANK

Consulting Motivations IMP SAT OPP IMP SAT OPPEarning extra income 52 2% 20 9% 43 3% 9 11 1Earning extra income 52.2% 20.9% 43.3% 9 11 1Gaining potential access to research data 60.3% 22.4% 42.5% 5 9 2Working on problems tied to my core expertise 67.6% 33.6% 41.8% 1 1 3Having an impact on practice 54.4% 22.4% 40.3% 8 9 4Working on interesting problems 64 7% 28 4% 38 1% 2 4 5Working on interesting problems 64.7% 28.4% 38.1% 2 4 5Staying up‐to‐date on managerial practice 61.0% 26.1% 38.1% 4 6 5Staying relevant and credible for teaching 62.5% 30.6% 35.8% 3 3 7Getting good illustrations for teaching and/or writing 55.9% 31.3% 35.8% 6 2 7W ki ith d i i k t ll k iWorking with decision‐makers at well‐known companies (Fortune 100, 500, 1000) 40.4% 16.4% 35.1% 12 13 9

Learning and stretching myself 55.1% 27.6% 34.3% 7 5 10Building a professional network for cases, speakers, etc. 41.9% 24.6% 31.3% 11 7 11G i id f h 47 8% 24 6% 26 9% 10 7 12Getting ideas for research 47.8% 24.6% 26.9% 10 7 12Getting a change of pace from other responsibilities 28.7% 20.9% 17.2% 13 11 13IMP is the top two box percentage for importance ratings. SAT is the top two box percentage for satisfaction ratings.OPP is the percent of respondents who rated importance two or more points higher than satisfaction for a given need statement. 5‐1, 4‐2, 5‐3, 4‐2, etc.

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TOP 5 MOST IMPORTANT CONSULTINGTOP 5 MOST IMPORTANT CONSULTING MOTIVATIONS OF PROFESSORS

64.70%

67.60%

Working on interesting problems

Working on problems tied to my core expertise

61.00%

62.50%

Staying up-to-date on managerial practice

Staying relevant and credible for teaching

g g p

* 136 k ti f US l P t h i t t b t 5 i t l 1 t i t t t ll

60.30%

56% 58% 60% 62% 64% 66% 68% 70%

Gaining potential access to research data

*n=136 marketing professors; US only; Percent shown is top two box percentage on 5-point scale: 1=not important at all; 2=somewhat important; 3=important; 4=very important; 5=extremely important.

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Motivation Comparisons by PositionMotivation Comparisons by Position

IMPORTANCE RANK SATISFACTION RANKConsulting Motivations Total ASST ASSOC FULL Total ASST ASSOC FULLgEarning extra income 9 11 7 6 11 10 10 7Gaining potential access to research data 5 4 6 3 9 3 10 11Working on problems tied to my core expertise 1 8 1 1 1 1 2 1Having an impact on practice 8 9 10 3 9 6 7 13Working on interesting problems 2 6 4 2 4 7 7 1Working on interesting problems 2 6 4 2 4 7 7 1Staying up‐to‐date on managerial practice 4 1 2 7 6 7 2 7Staying relevant and credible for teaching 3 1 7 3 3 1 2 4Getting good illustrations for teaching and/or writing 6 3 4 9 2 3 1 3Working with decision‐makers at well‐known companies  12 12 13 11 13 12 13 11(Fortune 100, 500, 1000) 12 12 13 11 13 12 13 11

Learning and stretching myself 7 9 2 7 5 7 5 4Building a professional network for cases, speakers, etc. 11 4 9 12 7 10 5 7Getting ideas for research 10 6 10 10 7 3 10 4Getting a change of pace from other responsibilities 13 13 12 13 11 12 9 7Getting a change of pace from other responsibilities 13 13 12 13 11 12 9 7ASST = assistant professorASSOC = associate professorFULL = full professor

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For More InformationFor More Information

For questions on the survey: lance@LIFTPhD.com For information on LIFT PhD: www.LIFTPhD.com

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