Spring 2006: Sports Marketing

by Connie Olasz

Getting to know you,
Getting to know all about you.
Getting to like you,
Getting to hope you like me.

The 1951 song “Getting to Know You” by Oscar Hammerstein produced for the classic musical “The King and I” might be the marketing hymn of the 21st century.

For marketers and businesses around the globe, it’s the Relationship Age, an acclamation that the relationship between a brand and a customer drives market share – and innovation.

The mantra for this reign of relationships is Customer Relationship Management (CRM), a strategy to increase customer retention and build customer equity. It embraces a 360 degree view of the customer and customer insight brought into all day-to-day operations of a business.

A 2005 study by research firm CSO Insights found increasing customer loyalty (a.k.a. relationships) as one of the top four goals most commonly cited by more than 1,250 companies worldwide who have adopted CRM.

Carol Gwin, assistant professor in marketing at Baylor University’s Hankamer School of Business, states that the essence of a customer or business relationship embraces the same dynamics as interpersonal relationships: trust, two-way dialogue, commitment and mutual high esteem. She says trust is the core element.

Ryan Vauk, newly appointed Sales & Marketing Supervisor for Major Accounts at 3M and Baylor graduate, sings the praises of CRM and 3M’s transformation from a product selling model to a customer buying, relationship-building business.

In 2004, 3M sales topped $20 billion, with innovative new products contributing significantly to growth. According to Vauk, relationships are key to this success.

“We’re not afraid to innovate around the customer. Teams within and outside the company are always on the hunt to do better and be more efficient together,” he said.

Marsha Calfee, Director of CRM Delivery for NetBank, is responsible for delivering mechanisms to help marketing develop customer relationships. She describes CRM as a holistic strategy that needs to be driven from the top down.

“CRM implementation must start at the top of a company and be closely tied to the company strategy with processes, policies and a relationship-focused culture in place. For optimum success, CRM has to be the very fabric of a company’s culture,” Calfee said.

Vauk echoes this same view and credits the top-down approach and the fabric of culture at 3M with successful CRM transformation and results.

Vauk and Calfee concur that full CRM adoption and implementation is a conversion over time and not an easy change to make. Calfee believes that CRM dawned as sales force automation tools when the advent of mobile laptops, email and networking put customer and business information at a sales person’s fingertips. As businesses realized the value of networked and centralized databases of customer information from sales, to service and support, to marketing, CRM sprang forth.

In concert with CRM, the role of marketing matured. John F. Tanner, Jr., associate dean for faculty research and marketing professor at Baylor, reflects that there has been a dramatic evolution in marketing throughout the last fifty years as focus shifted from one-size-fits-all mass marketing to one-to-one relationship marketing.

According to Kirk Wakefield, Hankamer’s marketing department chair, we may be witnessing marketing coming full circle, back to the basics of relationships where marketing began.

As far back as Medieval Ages, merchants, artisans and smiths survived by knowing, serving and anticipating their customers’ preferences.

Marketing evangelist and legendary management thinker Peter Drucker traced the birth of modern marketing to 1650 in the Far East when the first neighborhood department store opened in Tokyo with a large assortment of products tailored to customers, along with the principle of a money-back guarantee and the identification and segmentation of an urbanized new gentry and bourgeoisie set of customers.

In the West, Drucker recognized Cyrus McCormick as the first person to recognize and advocate marketing as the central function of a business and the customer as the central objective of a business in the 1800’s. Most famous as the inventor of the harvester, McCormick was credited by Drucker as the inventor of basic marketing tools such as market research, market analysis, pricing policies and installment credit; ideas which he lamented were not imitated until the 1900s.

As technical innovations from transportation to communication started taking off in the 1900s, business attitudes began to switch from selling a product to producing what the market needed – from selling to marketing.

Wakefield attributes the ensuing fragmentation of media and increased mobility of the 1970s and 1980s along with the advancement of email and mobile technology to the re-emergence of one-to-one, personalized marketing.

“In 1950, 75 percent of the population lived in rural areas. Today, 75 percent of the population is urban. There are hundreds of magazines and innumerable Web sites that address every niche and interest. There are hundreds of cable TV stations to appeal to every segment. There are multiple channels of communication, including email, the Internet, handhelds and cell phones to reach individuals. And it is now economically feasible to communicate one-to-one,” he states.

Tanner remarks that academia began calling for greater focus on understanding customers and the importance of segmentation and personalization in the sixties. But the idea languished in the business world.

As communication technologies and data bases of customer information grew, however, a flurry of primers and tomes from management consultants and marketing strategists in the late nineties through today began rolling out, reminding and counseling businesses that they exist for a sole purpose – the customer – and that the closer the relationship, the more protected a business was from price cutting and competitive subversion. These consultants and strategists advocate:

• Emphasizing the critical nature of CRM to a company’s profitability and long-term success.

• Creating value by increasing customer lifetime value.

• Reaching out to customers who have shown an interest.

• Focusing on share-of-customer rather than share-of-market.

• Building unbeatable customer relationships and loyalty.

• Producing good feelings from storytelling, not product quality.

Besides enabling businesses to focus on customer relationships, technology also gave customers power. With all the touch points and information the Internet, email and cell phones avail, customers now control when, where and how they want to interact with a business – as well as how deep a relationship they care to have.

“Relationship management doesn’t mean the best relationship is the deepest. The best relationship is what a customer wants and what keeps the customer loyal,” advises Tanner.

As a result, marketing has multiple channels and touch points to reach customers and prospects, but they have to carefully understand the stages of relationships, preferences and attitudes to build trust.

“Trust is the keystone, built upon integrity, reliability and dependability,” said Wakefield.

When asked what spurred an already successful 3M to embark upon its transformation to CRM in the late nineties, Vauk said, “Our customers asked for it. They have a trust and a preference for our brand, products and service which survives even executive turnover. Executives may come and go, but the customer remains. Their relationship is with the business, not just individuals.”

It is generally accepted that it costs a business anywhere from five to ten times as much to acquire a new customer as it costs to retain an existing one. Some studies have estimated that U.S. organizations lose half their customers every five years and that a 5 percent incremental improvement in customer retention rate could double profits. On the downside, disloyalty is estimated to decrease corporate performance by twenty-five to fifty percent.

“Relationships are a necessity. The only reason for a customer to switch to a competitor is when they don’t have a relationship with a business,” explains Tanner.

Businesses today understand that the fastest way to build brand equity is to build customer equity (relationships) by staying connected throughout a relationship lifecycle.

Marketing’s primary role is to generate leads for sales, create brand awareness and manage the relationship cycle with customers. However, marketing does not operate alone. It is inextricably intertwined with its primary partner sales. Sales does not lead and marketing follow. Marketing does not lead and sales follow. Rather, their relationship is integrated on an interactive two-way street. They support each other and are separate functions solely for the benefits of division of labor, focus and execution.

In the current business environment, challenges and customers are too complex to be managed by one person, one department, one function. Add to that complexity, disparate oceans of data collected through multiple and various customer touch points that are too vast for one role to analyze and interpret properly. Multiple perspectives are necessary and marketing plays an integrative, collaborative role in coordinating, consolidating and sharing perspectives.

Many stakeholders own an interest in customers and contribute to brand equity and customer equity. Marketing pools resources and collaborates with other stakeholders to understand customers, develop market positions, customize marketing communications, implement go-to-market strategies and drive long-term relationships.

Collaboration and building relationships with other stakeholders are critical to successful marketing and profitability. Without relationships, internal departments and functions, and external stakeholders such as partners and investors act to serve their own power interests.

Relationships between management, marketing, sales and employees impact strategy and execution.

Relationships between management, marketing, finance and investors affect company valuation.

Relationships between marketing, sales and strategic partners influence effective domination of market.

Strategic partners bring additional knowledge of customers and data management systems to the table to help develop effective and insightful customer solutions as well as help evolving companies transform to customer-centric, relationship driven businesses.

Suppliers help lower costs of products and services, and improve quality and distribution.

Vauk says 3M works closely with partners to develop solutions and packaging that meet the distinct needs of individual customers.

To build customer relationships and to share insight with key stakeholders, marketing’s task is to understand who the customers are, who the loyal customers are and who will most likely become loyal customers. They have to understand the customer well enough to treat them with differentiation and distinction via personal, relevant and timely messages.

“Relevant personalization and recognition of an existing relationship makes the customer feel valued, increases loyalty and generates additional purchase,” states CSO Insights.

From database marketing to email mining to real-time targeted marketing, technology enables marketers to reach customers with the right message at the right time through the right channel.

The Internet is the fastest growing marketing channel and opportunity to gather customer information, acquire customers, and build relationships. Initially a catalyst for customer acquisition, the internet now plays a major role in cross-selling, customer retention and loyalty.

Marketers embrace various methodologies to target, personalize and build relationships. Optimally, customer relationships turn into brand advocates.

Whether it’s Peppers & Rogers’ 4 Step IDIC Methodology; DeBonos, Balinski & Allen’s 5 Step Process; McDonald & Dunbar’s 3 Stage-7 Step Process; or others, there is consensus that the approach must be a long-term strategy based on market conditions, customer information, successful implementation, analysis and customer feedback.

Marketing has never been as analytical as it is today. It consolidates and derives insight from distinct and disparate databases, and turns data and insight into actions and programs by understanding the different phases and current state of relationships with customers. Then it tailors strategies and tactics based on the state of the relationship. It must know why customers continue to return, why some leave, and strategies to manage those relationships and all in between.

As marketing seeks to identify relationships, spot trends, segment, target and personalize communications, analytics are critical.

The biggest challenge marketing faces is understanding key drivers and triggers of relationships, measuring relationships, and measuring success.

There’s a potential flaw of responding to wrong signals. Tanner refers to this as a “data trap” that causes an illusion of knowing. He gives the example of an Asian company who noticed large volume sales of washing machines to prisons, hotels and boarding schools. Assuming the customers would need dryers, sales people were dispatched only to find that the washers were being used to make cheese, not wash clothes. And no dryers were needed.

Traditional transactional and behavioral data does not deliver full insight to understand relationships.

As researchers and strategists have known for some time, traditional quantitative data needs to be balanced with qualitative, emotion-focused data. Beyond basic marketing research tools and data bases, it is evident that social, functional and emotional dimensions are important predictors for marketing.

Up to now measurable qualitative research has been expensive and often ignored by businesses. But, according to Wakefield, it is available for anyone who wants to measure.

Observation is becoming as important as traditional facts and figures of basic marketing research. Some companies are including ethnographers and anthropologists on cross-functional teams alongside sales, marketing, engineering to add this tool to analysis.

Tanner attributes incremental sales to relationship management but says personal observation and dialogue are the key drivers for “epiphanies” and innovation.

Although personal observation and face-to-face dialogue can be quite expensive and time-consuming to study large populations and segments, some marketers are using these tools very cost-effectively to engage small populations at polar extremes of the customer relationship spectrum.

“It can be extremely insightful to understand why your advocates love you and why hostile or unengaged customers feel that way. It can provide competitive and innovative information, and great followup with an ‘if we change X, would you buy?’” says Gwin.

As marketing builds relationships with customers, they are using new analytics and metrics to mine data and to establish connections.

A January 2006 article in BusinessWeek touts an analytics shift to a new “age of numbers” where math and “luminary quants” are developing mathematical models to help marketing sort and analyze vast and disparate mountains of data to gain the intelligence to drive one-to-one relationships with customers, predict buying behavior and predict product/service appeal to demographic groups by medium.

“This mathematical modeling of humanity promises to be one of the great undertakings of the 21st century,” according to BusinessWeek senior writer Stephen Baker.

Relationship marketing and CRM are godsends to marketing, helping them measure and justify their relationship building strategies and campaigns. It helps show that marketing is an investment rather than a cost. Smarter metrics are coming to the forefront to validate marketing’s value as a revenue generator and an investment.

Traditionally, marketing measured response rates, cost per lead, brand impressions. Performance can now measured by increase in customer share, customer retention and customer value, not just market share.

Going forward, marketing and relationship programs can be measured by customer loyalty, incremental profits generated, customer growth rate, share of preference, share of wallet, customer tenure and brand advocacy.

Perhaps soon, quarterly and annual reports will include customer equity alongside stockholder equity. One thing remains clear, the end objective is revenue and profitability – through relationships.

For students pursuing a marketing career, Tanner recommends high competency in creative and marketing strategies, technology tools, and, of course, analytics, both quantitative and qualitative.

For mid-career marketing professionals, additional training and expertise in math and math tools, including Excel, are sure to pay off greatly.

Marketers don’t have to be math wizards but it’s to their benefit to know enough to question assumptions behind analysis and to spot opportunities and illusions of knowledge.

Haven’t you noticed
Suddenly I’m bright and breezy?
Because of all the beautiful and new
Things I’m learning about you
Day by day.

Baylor Business Review, Spring 2006

by Beth Barbee

What if your job was to entertain athletes at the All-Star Game? Or if you could finally bring your team’s mascot into the 21st Century? Or you got paid to talk sports all day? These are dream job scenarios for many. For this handful of Baylor Business alumni, it’s just another day at the ballpark. A career in professional sports is fast-paced, alluring and exciting. Sports stars are no longer just celebrity heroes, but become colleagues and friends. As these Bears soon found, there’s a lot more to it than high-fives and hot dogs.

“It is a lot of behind-the-scenes work and it’s not as glamorous as people think,” says Jason Weaver, BBA 2004 and account executive for the Dallas Mavericks. “There is a very large time commitment during the season. Depending on the sport, you can work anywhere from 60 to 90 hours per week. This can become very taxing over the course of several months.”

“The unsociable hours of many of the roles in the sports industry can be troublesome for maintaining a balance in your life,” agrees London-based Clive Russell, BBA 1990 and director, Europe, Middle East and Africa for Major League Baseball. “When you think about working for a Major League Baseball club with its 81 home dates, mostly in the evening and on the weekends – particularly in the summer, which is probably the best time for holidays for families, it can be a really difficult to maintain that balance. Working for the league, my challenge is not around home games, but international travel.”

“To be successful, I also have to work hard and put in a lot of hours, so it can be a lot of time away from my family,” echoed Colin Faulkner, BBA 1998 and vice president of ticket sales for the Dallas Stars Hockey Club. “Fortunately my wife is very understanding. She’d probably rather me be at work a few extra hours than home for those hours, but complaining about my job.”

And who can complain about a job where traveling for work isn’t another conference in Cleveland, but Stanley Cup road games; or where your event planning duties aren’t stakeholder dinners, but Opening Day promotions.

Heather Hansen, BBA 2003, dreams of someday working in her favorite sport – hockey, but for now, definitely appreciates her unique situation and says the atmosphere is the best part of her job as coordinator of nightly suite sales for the Texas Rangers.

“How many people can say they go to work everyday in a ballpark? Also, most of the people I work with are fun and laid back, which adds a lot to the work experience.”

Getting to talk sports all day is a main draw for newly appointed Vice President of Marketing for the Houston Rockets and Comets, John Dillon, BBA 1993.

“But more than that, within the sports industry we have an amazing ability to connect with the public and make a real difference in people’s lives. People use sports as a social outlet, and people love coming to games, watching games and even talking about games. They love the diversion and the entertainment – we’re an escape of sorts. We can bring a smile to people’s faces. And most importantly, we have the resources to reach out to the community here and help make a difference with our programs to help improve the quality of life for Houston residents. That’s a wonderful aspect of this job.”

Weaver agrees and feels the personal interaction with the customers and hearing about their positive experiences is the key appeal of the job, he also certainly enjoys the energy of being part of a team.

“My first job was with the Frisco Rough Riders, the Texas Rangers AA Affiliate. In my first season with the team, we won the Texas League Championship – our form of the World Series. It was very exciting to be a part of a championship organization. They are a very classy and well managed organization. I learned a great deal from my experience there.”

Faulkner also enjoys the team aspect. “To me, the most appealing part is, like our team on the ice, we have a great team off the ice. I enjoy being part of a team and I approach my job much like our coach or general manager approach their jobs. I enjoy building our team, evaluating our performance, making adjustments when necessary and always looking for ways to make us more successful. The most rewarding part of that process is seeing the results of our hard work on a day to day basis. Winning another Stanley Cup would be nice too.”

Hansen prizes the pre-game rituals that staff takes part in. On Opening Day, the sales department stands under the press box to watch the pre-game festivities.

“It was very patriotic and there was an awesome flyover. It just felt really neat to be a part of it all,” she said.

For Russell, the product – the game of baseball – is his main motivation.

“I enjoy it and believe in completely, so when I go out to sell or represent it – it’s not the latest widget or product extension that I have to get someone excited about, but something I genuinely want people to enjoy. Therefore, I get both the buzz of a sale and then the joy of knowing I will be exposing people to the greatest American sport. Finally, as the entertainment industry is at the forefront of media development, the industry is ever-changing and exciting,” he says.

That ever-changing and exciting entertainment component creates many trials for the business of professional sports.

“I’m in my second month here, so I’m still learning,” says Dillon who finds the complexity of the behind-the-scenes professional basketball fascinating. “With games played every day, we’re marketing a product that evolves every day, within an industry that changes every day.”

He draws from his ten years of ‘traditional’ marketing experience at Yum Brands/Pizza Hut when dealing with the world of sports. “In the sports industry there are so many different elements of your brand that the consumer sees. Everybody has an opinion about your brand and your product. People like to dissect your product like no other industry. They’re talking about it in the newspaper, on the radio, at work, at home. And with every win or loss, your product literally changes. Your product is incredibly visible. The challenge is developing your brand and staying consistent with where you want your brand to go while dealing with the changes around you. That’s what we’re looking to do in Houston and we’re setting a great foundation for it now.”

Not only do wins and losses change your product and marketing strategy, but so do outside influences around the league. Faulkner has faced these kinds of complex marketing dilemmas in Dallas, both relocating the Stars and their fans from Reunion Arena to American Airlines Center and experiencing last season’s lockout.

“They were both very challenging experiences, but I found that going through those challenges helped me learn, grow and develop character,” Faulkner said.

In Russell’s position of bringing baseball to other parts of the world, he must bridge numerous cultural gaps. In fact, his region covers over 75 countries with nearly as many languages and cultural differences. Although the formation of the European Union and one currency for the majority simplifies many previous issues, he explains his secret “being a European by birth and having a life-long love for the primary “sports’ currency” in Europe – football (Americans will call it soccer) helps tremendously in my industry because it allows both sides to have a reference point and always have a topic of conversation.”

One unexpected challenge is how your perception of sports changes once you are involved in the field, according to Russell.

“People generally get into the sports industry because they are fans. It changes in two specific ways. First, after attending major events regularly, the impact of going to a specific game is much less exciting, so every event is less special. The second is that once you have been a part of the background of an event and you know the operations, broadcast and sponsorship issues, you pay far more attention to how things are being executed – ticketing, crowd safety issues, where sponsorship signage is being placed and who is buying it, camera positions, etc. You rarely attend an event as just a fan anymore.”

Don’t get them wrong, it’s not all long hours and hardships, working in sports definitely has it upsides.

In fact, when the photos for this feature were shot, Dillon was readying Houston for the NBA All-Star weekend, Hansen was preparing to entertain some of her clients in Florida during Spring Training, Faulkner was lacing up his skates for a little friendly inner-company hockey tournament and Weaver was anxiously awaiting the night’s game between the Mavs and Lakers.

And the plusses for Russell? “One of my friends in banking just paid £11,000 (a little over $19,000) for World Cup Final tickets and I got mine for free and they are much better seats, so there are perks as well.”

Baylor Business Review, Spring 2006

CRM & Privacy: How much do companies need to know about their customers?

VIEW: Bill Miller

VP Partner Marketing, Travelocity Business

Privacy……..customer lifecycle……..relevance…….compelling offer………know your audience………SPAM……….customer experience

Words and phrases like this pop into our heads as we think about CRM – that is Customer Relationship Management. CRM has been around for a long time, but really came into vogue as the Internet became mainstream. And, as the Internet rapidly entered our lives, we began to think more seriously about the effects CRM could have on consumers as well as on our business processes.

This three letter acronym can be a very powerful tool for businesses and a great boon for customers, as long as businesses understand the power of CRM, respect their customers, and have standards for how CRM will be deployed,. And, as e-commerce continues to grow (holiday e-commerce sales were up 25 percent this past December), CRM will become even more important to businesses and consumers. That is because CRM is ideally suited for e-commerce. As households continue to switch to broadband, their shopping experience will become even better. The Internet can always be “on”, like a TV, radio or telephone. Additionally, web shoppers can take advantage of more intense graphical images, 360 degree views of products, virtual tours of cruise line cabins, the ability to custom build a car online and many more CRM applications.

Most businesses have three common goals:

1. Increase revenues through differentiated products and services

2. Decrease costs, usually via better execution

3. Provide a better customer experience to improve loyalty

CRM touches all three, especially the third item on the list above. As businesses grow, it’s not unusual to have varying business unit goals that conflict with each other, disparate customer databases, call centers specific to products or services, and the list can go on and on. The point is, as businesses grow, they can easily lose focus on customers across all of their business lines. To move someone from an occasional buyer to a loyal customer takes a lot of effort and very strategic use of CRM.

What are some CRM tactics businesses can employ to improve their revenues while simultaneously improving the customer experience? To some this may sound contradictory — businesses pushing more product in the face of consumers to improve revenues won’t make for a more loyal customer. If you review the list of words and phrases at the beginning of this article, it’s easy to focus each one and expound upon its importance in the triangle of Corporation – CRM – Customer.

Relevance. It’s not too much of a stretch to say that consumers won’t care how many times they are contacted with offers, so long as the relevance of that offer is very high. At Travelocity we have a CRM campaign called “Good Day to Buy.” With volumes and volumes of shopping data available to us, one of our brighter thinkers and statisticians figured that consumers may want to be alerted to the exact time when it’s a very attractive time to purchase an airline ticket. Airline pricing and inventory management systems are incredibly complex and prices for one airline can literally change thousands of times a day. This “Good Day to Buy” campaign is an email sent to a customer that has been shopping in a specific market. The email tells the customer it is now a great time to buy a ticket for this market based upon the current sale price.

Know your audience. I’m an avid cyclist. I purchase most of my cycling gear from an online store. This particular store gets repeat business from me because they “know me.” Last fall, it had been three years since I purchased my last winter riding jacket. Low and behold, I received an offer from them for a new winter jacket at a great ice. And, if I bought a new box of Clif bars (energy bars) with the jacket, I could get free shipping. They also know I’m a frequent purchaser of Clif bars. I wasn’t yet out of my supply of Clif bars, but I went ahead and bought them because of the free shipping.

SPAM. We all abhore this form of marketing. Some of us purchase software to block it. We get carpel tunnel symptoms from all the pops ups and unders we have to close. We seek out Internet Service Providers or email programs that will block SPAM for us. Companies who want to build lasting long term relationships with their customers will have strict guidelines regarding SPAM and its prevention.

Compelling Offer. Consumers won’t ever get disenchanted with compelling offers – it doesn’t matter if a consumer needs it, wants it or has simply noticed it while doing some online shopping. If Talbot’s were to send a 50 percent off offer for that Summer outfit that someone thought was “so cute,” I don’t know many women who wouldn’t fire up the computer and make that purchase immediately or for that matter tread through rain, sleet or snow to the retail outlet to make that purchase.

Consumers should not view CRM as a bad thing. It can be a great benefit to them. As you begin to build a relationship with a store, whether it be online or brick and mortar, seek out how that retailer deploys CRM. Check out their privacy policy. See if they are members of the Better Business Bureau. Ask what kind of Customer Service Guarantee they may have. Companies that care about their customers and want to foster long lasting business relationships with them will pass the test on all these. Done right, CRM can be a good thing for consumers.

REVIEW: Paul Greenberg

Author of the best-seller “CRM at the Speed of Light: Essential Customer Strategies for the 21st Century” and CRM Fellow for the European Institute for Responsible Information Management (EIRIM) and co-chairman of Rutgers University’s CRM Research Center.

There is one thing about every human that you or I know – all of us are consumers. All of us. We are not just any consumers now that the 21st century is rollicking through its years, but in fact, we are exceptionally bright consumers who are knowledgeable, technology savvy, and know that we have instantaneous information on services and products from trusted sources online. We also know that critical to our consumer lives is control over what content we are provided and what information we are asked to give.

For good reason, we are increasingly worried about identity theft. We read stories about Lexis-Nexis and 310,000 stolen social security numbers or Bank of America “losing” 1.2 million customer records. The annual updates we get from companies on their privacy policies aren’t really much of a comfort for those fears of stolen data are they? Truthfully, do you even read them? I said, truthfully. I don’t. What I expect of a company is that if I deal with them, I can trust them to protect whatever information I gave them in return for something they gave me. And that goes to the crux of the matter. Customer data privacy isn’t really the concern of the population as much as trust in dealing with it is.

With all the concerns about privacy and its breaches you read of in the media, in fact, that hasn’t stopped the 21st century customer from being forthcoming with enough personal information for someone else to establish a new identity complete with photos from what is publicly available online – and made public by the customer themselves. In fact, these neo-customers from Gen X and Y are surprisingly relaxed about providing tons of data well beyond the transactional and are also quite lax its public exposure – as long as they are in control of the decisions for the exposure and feel that they can trust the institution they gave it to. For example, in a study done in October 2005, by Ralph Gross and Alessandro Acquisti of Carnegie Mellon Institute on “Information Revelation and Privacy in Online Social Networks” they found that the survey respondents, members of the primarily college student social networking site Facebook (www.facebook.com) chose to reveal enormous amounts of personal information including their home addresses, IP addresses, data related to their personal relationships including partner data, political preferences, hobbies, music, books, movies, you name it. In fact, the social tags that are there to slice and dice customized knowledge of individuals are mind-altering. What is even more astounding is that this data is available to any member of Facebook at all – most who are clearly strangers to other members. But when queried, 50% of the member-respondents worried about the data being seen by someone they actually knew. In virtual (but not actual) anonymity there was trust.

But get this. Facebook’s privacy policy, states that they are allowed to continue to collect personal data from other sources like Instant Messenger conversations and newspapers “regardless of use of the website.” Additionally, they can use that data to supplement the personal profiles of the members and to give it to Facebook service providers. But because of the rather naïve trust the Facebook members have in Facebook, this incredibly fast and loose privacy policy was simply “not believed” by 60-85% of the respondents, according to the Carnegie-Mellon survey. They chose to believe what they wanted based on their innate trust in Facebook the cyber-institution.

What this implies is that institutional trust is the primary concern of customers, not privacy per se. Even though there have been dozens of high profile customer data breaches from Lexis-Nexis, Bank of America, ChoicePoint, ad nauseum, ad infinitum, and fear of being individually victimized by identity theft has grown from around 42% in August 2004 to 65% in December 2005 (Ponemon Institute, 2006) it doesn’t stop the customers from purchasing things with their credit cards online, because they trust the means to do so. 2005 saw $143 billion spent (up 25% from 2004) online – not exactly an indication of fear of cyber-theft as a whole. The overall level of “in the Internet and our business partners we trust” remains pretty high.

But it is a fragile high. The Ponemon Institute, what I consider the world’s best privacy management firm, did a significant study released in January 2006 on the “Most Trusted Retail Banks.” They came to some very significant conclusions. First, it takes two breaches of privacy at a banking institution to destroy trust and lose the customer. Second, that 68% of the customers believe that the bank will protect their customer data and privacy and will inform them should there be a breach. Only 14% weren’t sure that their bank would. The study found that immediate response to a breach is important via phone or written notice (less electronically, oddly enough). They trust their banks to protect their information but 68% would transfer to another bank if they didn’t. Also that 63% were as confident of the protection of their data online as they were at the local branch. But that is a decline of 11% since the last study.

So what kind of conclusions can we draw from all this? Privacy, while a significant issue, is actually less the issue when it comes to 21st century customer/company relationships. The real issue is trust in the handling of that data, not the fear of its revelation. Most customers are willing to give the data if they can trust the institution they can give it to. That is the true value of a privacy policy.

But actions speak louder than words. So what do you do to improve that trusted relationship? The Ponemon Institute study found that the three most important trust factors are:

1. Don’t sell or share the information with other organizations

2. Don’t use it to aggressively market back to the customer

3. Keep the customer posted on the status of their information

And I would add

4.Inform them honestly and immediately of any breach

In other words, the more open about how you handle individual customer data, the more trust you engender. The more transparent you are with your customer, the more trust you will gain. There are very few of us who mind giving out personal and transactional information in exchange for something that is valuable. But to keep the trust and thus the business of that customer means that the more control they have over their data’s fate, the more trusting they will be. That means transparency, honesty and quick resolution of problems, not just an annual updated privacy policy for them to not read. That doesn’t seem too hard, now does it?

Baylor Business Review, Spring 2006

By Eric Krell

Early corporate investments in customer relationship management (CRM) capabilities delivered questionable returns. Bruised by the recession and smarting from an IT-spending frenzy, executives commonly viewed CRM investments as a gamble in the early 2000s. But the odds of CRM investments paying off have greatly improved in the past five years, and customer-experience innovations in the gaming have lead the way.

“CRM has had an incredibly valuable impact in the gaming industry,” notes Atique Shah, who has conducted successful CRM initiatives at the National Basketball Association (NBA), Churchill Downs and GSI Commerce (a company that earned Gartner’s “CRM Excellence” award as a result of the project). “In many ways, gaming has shown other industries where they need to move when it comes to leveraging CRM.”

While some corporate leaders strive to emulate CRM practices at play in casinos, others harbor reservations about gambling’s societal impact. Las Vegas’s booming entertainment economy, the rise of online gambling and the growing popularity of Texas Hold ‘Em have stimulated debates on the ethics at play in the gaming industry. Gaming executives assert that they have strong controls in place to address the negative affects of the activity on many gamblers. Others are not so sure. Baylor University Professor Earl Grinols’ research offers a compelling economic examination of the social costs and benefits of gambling (see “High-Level Cost-Benefit Analysis”).

Despite those opposing views on the business of gambling, there is no question that casinos and other gambling-related businesses have made great strides in collecting, analyzing and acting upon customer information. Some businesses can now predict with stunning accuracy the amount a customer will spend in a visit, during a year or even over the course of a lifetime based on a handful of initial transactions.

Rewarding Loyalty

Las Vegas-based Harrah’s Entertainment, which owns or manages more than 40 casinos, has lead the way with its groundbreaking (and trademarked) “Total Rewards” customer loyalty program. The program consists of a card customer use to gamble. Each transaction earns points; when a customer earns enough points, he or she can move from “gold” member status to “platinum” or from “platinum” to “diamond.”

Each tier has specific, and increasingly generous, benefits (discounts, free hotel rooms, limousine service and so on) associated with it. More important, each gambling transaction card holders make flow into Harrah’s database where it can be analyzed to determine ways to make that individual cardholder happier.

After a glance at a computer screen, a casino host can greet a very important customer checking into a Harrah’s property by handing him his favorite drink and informing him that reservations for two have been made at his favorite restaurant and two tickets for tonight’s sold-out Elton John show are waiting for him in his (favorite) room – and, adding a warm “Happy Anniversary.”

Churchill Downs has separated its customer base into nine tiers, each of which receives offers, amenities and service tailored to the unique characteristics, and value, of each segment. The company last year received CRM magazine’s annual “Elite Award” because the new CRM capabilities helped increase sales by more than 50 percent and profit margins by more than 10 percent.

“These sorts of capabilities are not easy to develop, but then again, the data is there,” notes Charles Fink, a VIP marketing specialist with Harrah’s and one of the first Hankamer graduates to earn an MBA in CRM in 2002. “Do you have the time and the resources to look at all of the data? And how deeply into your customer base can you analyze? Those are the key questions.”

Happy Customers Roll the Dice

Fink, a 2001 Baylor University graduate, recalls watching the Travel channel’s coverage of Las Vegas as an MBA student. The show’s narrator noted that the casinos “knew everything there was to know about the players …and they act on that information.”

After earning his MBA, Fink landed a job at the MGM Grand as a customer relationship marketing analyst. He spent two year there before joining Harrah’s to focus on new ways to market to the company’s highest-rolling VIPs. Fink says he was drawn to Vegas and his current “dream job” because the gaming sector is fertile for CRM innovation.

The sector’s margins are relatively high, which provides more money for CRM strategies, technology and experts. “It’s also an industry that’s willing to take risks because that’s what [gambling] is all about,” says Fink. “It rubs off on us.”

Since the actual gambling product is a essentially a commodity – the same table games, slot machines and wagering opportunities exist at most casinos – gaming companies are forced to compete on service.

Customers may think that they have a lucky table, a lucky dealer or even a lucky casino, but when that luck turns, and it always does, their loyalty to that table, dealer or casino can also switch off. Harrah’s sophisticated data mining and statistical analysis found that happier customers spend more money. “If a customer has a very happy experience at Harrah’s they increased their spending on gambling at Harrah’s by 24 percent a year,” report Phil Bligh and Doug Turk in their book “CRM Unplugged: Releasing CRM’s Strategic Value” (John Wiley & Sons, 2004). “In contrast, unhappy experiences led to 10 percent declines.”

Learning from Gaming

The specific modeling and analysis methods employed to make customers happy are incredibly complex and as closely guarded as the Coke formula, but the ingredients of a sophisticated CRM strategy are relatively straightforward.

“You need a very good database, excellent analytics, and then a method to deliver the information you gather from the data to the front line where it can be accessed and acted upon,” notes Fink. He and other CRM experts who have operated in the gaming sector also tend to offer additional similar insights, including those that follow, which companies in other sectors can learn from to fortify their CRM capabilities:

Experience matters. Gaming businesses have learned that loyalty (the amount a customer spends and the duration of the customer’s relationship with the company) and satisfaction (a customer’s reaction to a specific event or interaction with the organization) depend on numerous experiential factors. Those factors can be managed. “The smart approach to CRM is not about pushing for sales all the time,” says Shah. “Smart CRM recognizes that the customer has already made decision to do business with you. Rather than selling the obvious, build the human part of the relationship by recognizing customers as individually as possible through interactive channels.” As Harrah’s has demonstrated, that one-to-one service can be delivered to all customers, no matter how much they currently spend.

Trust the data. The majority of CRM strategies to date rely too heavily on the instincts of sales and marketing professionals. “Some of these ideas are right and some are dead wrong,” notes Bligh and Turk. “How do you know which are which? The answer is to let facts be your guide. Gaining and using customer insight is a science not an art.”

Integration is important. An “enterprise view of the customer” represents one of Harrah’s CRM mantras. To gain that view, all customer information must flow into the same database, whether the data comes from different properties or business lines, the front desk, Web sites, telephone calls, visits to a service kiosk, interactions on the floor or room service. Doing so demands a smooth technical integration among all of those customer-facing information points.

Measure everything. One of the most startling facets of CRM initiatives in the gaming industry are the numbers that they churn out: 69 percent revenue growth, 150 percent return on CRM investment in the first year, 50 percent boost in online sales, etc. Those are actual number culled from articles published on Harrah’s and Churchill Downs in the past three years. Those numbers are available because these companies closely measure and monitor the success of each sales and marketing initiative. If a program is not bearing fruit, it can be halted and the money flows to more profitable programs or other new initiatives.

Gambling raises many questions, but the sector as a whole has provided a definitive answer to at least one big question: What is the value of CRM? “If I’m a customer and you know its my anniversary and greet me that way … that’s a ‘wow’ moment from a customer experience perspective,” adds Fink. And those wow moments translate to eye-opening returns.

Baylor Business Review, Spring 2006

By Grant Teaff

Years ago, a football player at Baylor University reminded me of one of the most important lessons about relationships. As head coach, I’d just told my team about what it would take to become unified. I said that they had to care about each other, to love each other, in order to become team players.

Mike Singletary, then a junior, waited for me after that meeting. He said, “Coach, before I can love someone, I have to respect him.” That’s a great observation, worthy of repeating. The point is very simple: You can’t have any relationship – not a team network, not a marriage, not a business contract – without trust. You can’t have trust and caring without respect.

My parents, teachers and coaches were my role models and I started learning about relationships as a young boy growing up in Snyder, Texas. I continued to learn during my years of coaching and I learn today from the 10,000 members of the American Football Coaches Association. Relationships are key to success no matter your role in life. In leadership roles, relationships are the theme.

I use the word “inclusiveness” when talking about leadership. Inclusive leadership permeated the teams I coached at Baylor University. We impressed it on the coaching staff because they were the key ingredients in our leadership team. Inclusiveness simply means telling and showing people they’re important, and you do this through your actions.

We’ve followed that pattern here at the AFCA, where we give key leaders huge responsibilities. We include our leaders in all aspects of running the operation, and they include others. If I were running a major corporation, I’d do it the same way.

So what does inclusiveness look like? It’s simple. We are inclusive by intent. You describe what you’re doing by your actions. In our offices, that means that the high school coaches, the community college coaches, the professional coaches and the arena league coaches know they are just as important to the organization as the college coaches and are going to be an integral part of the association. The AFCA will provide equality in education and opportunity for them. We tell them to expect it, they do, and we fulfill their expectations.

Inclusiveness means that the AFCA now gives the number one award in American high school football, the Power of Influence Award. The American Football Coaches Association and the American Football Coaches Foundation created the award in 2002. It was the first time the AFCA created an award specifically designed to honor a high school coach.

We provide the high school coaches their own seminar and give them the means to communicate nationwide. Although they all have state organizations, high school coaches possess limited influence on nationwide issues. We can help there, whether it’s talking to ESPN about televising college football games on Friday nights, to the detriment of high school football, or whether it’s through educational opportunities. We are the tie that binds, and high school coaches have shown their approval through sheer numbers. Our growth from 4,500 to 10,000 members has come in large part from high school coaches.

Another example of inclusiveness is our Plaza of Influence adjacent to the AFCA building. We designed it so that individuals can honor the coaches who have had an influence on their lives by placing their coach’s name on a brick, a capstone, a plaque or a bench. The idea came about from a statue of a little guy I saw in New York City. He has a football tucked under one arm and a helmet under the other. When I saw the little boy, I knew that that he represented me and every other child that ever picked up a football and wanted someone to teach him how to play the game and how to live his life.

On the plane returning to Waco, I penned a poem titled “A Coach’s Influence,” describing how a coach’s influence goes on and on. My coaches influenced me, I influenced others and those I influenced have become coaches and teachers. The influence continues.

At that time there was no place in America where a coach could be honored for the power of his influence, and that’s the most important thing that he has. That’s why we give the Power of Influence Award to the high school coaches. It’s not based on wins or losses, but on the profound influence they’ve had on individual lives.

In our Plaza of Influence, the results have been just what we envisioned. We had a 65-year-old coach honor his 87-year-old coach. They drove 200 miles here to see the brick. We have a fountain named for Darrell Royal. A junior high coach is recognized on a stone plaque next to Coach Royal’s fountain.

I envisioned the kind of influence I could have when I said yes to the executive director’s position at AFCA. My new role put me in a position to have an effect on coaches, and I saw them in turn influencing thousands and thousands of young people. The AFCA’s influence flows through our publications and our educational venues. At our convention this year, we had 6,000 registered and we planned 140 events, primarily educational. We stress the concept that a coach is a professional. In that light, a coach should dress and act like a professional. That not only brings chest-swelling pride to the coaches, but it brings the recognition of how others look at coaches.

We also teach the importance of teaching a value system – ¬¬¬of setting an example. If you ask a young person not to smoke and drink and then you turn around and smoke and drink, you diminish both your integrity and your ability to lead.

Mentoring is the real key to leadership. We follow the methodology of newspaperman and poet Edgar A. Guest – “I’d rather see a sermon than hear one any day.” It’s not so much what you say as what you do. If as a coach you tell youngsters to treat a referee with respect, then you do or say something disrespectful directed toward the referee, you are not teaching those youngsters anything. If you do something in a game situation that is dishonest, you are leading your team in the wrong direction.

Many of these things I learned as a country boy growing up in Snyder. My father was a very hard worker. He didn’t get to go to college because he got out of high school as the Depression hit, and I was born shortly after that. I have one sister who came along six years later.

One of the most important things I learned by watching my father was that nobody outworked him and nobody will ever outwork me. I started working at age 12 for a tire company. I took this job during the war, when tires were rationed. They all had a serial number on the inside. I crawled under all the cars and recorded the code number. Before long I was fixing truck flats and I went from there to working in a grocery store.

Late one Saturday night – it was in 1946 – I was working at the grocery store when I saw a Model-T Ford drive up. It was a 1924, the most beautiful thing I’d ever seen. The man who originally bought the car drove it half a year before he died. His wife put it up on blocks in her garage and put a tarp over it. It sat there all those years, in mint condition. Then she bought a new car from my father, who worked at an automobile dealership, and he delivered it to her home. He saw the Model T in the garage. He bought it from her for $75. He drove up in front of the grocery store, walked in, handed me the keys and walked home. I drove that Model-T until I got into high school.

My beliefs are grounded in my parents’ value system as well as the principals of how to achieve success. Working full time at age 12 paid big dividends for me. Most of my family members were hard working farmers and ranchers. My teachers and coaches encouraged me to become an educated person and my coaches taught me how a boy without much talent or a scholarship could get an education.

In the great game of football, you learn the importance of an individual to the team while discovering that not everybody has the same talent or the same skills. But everybody has a value or worth. And you can increase your worth by your effort. I was slow and not very big but I was a pretty successful high school football player because of my propensity toward total effort. I was told that and sold that, and I bought it. It has worked in everything I’ve ever done. And it ties in beautifully with the work ethic my father taught me.

When my coaches first explained the total effort concept, I understood how it worked on the practice field and in the game. It meant that a player should go full-speed and should play as hard in the fourth quarter as he did in the first quarter. It was obvious that a total commitment to preparation was essential.

The beautiful thing about this kind of effort is that it fits every situation. If I use it in a business, and I want to be successful, I’m going to know more about my competition than he knows about me. I am going to know his weaknesses and improve myself. That takes effort. You have to spend the time to do it.

My teachers and coaches taught us that this total effort concept permeates everything in life, whether on or off the field. It applies in the classroom, at work, in a marriage. Sometimes athletes understand the concept on the field, but they don’t get it off the field. If every athlete were willing to give in the classroom what he gives on the field, he would find success in everything he tried. It has everything to do with effort and hard work and these words: Let nobody outwork you. Let nobody be willing to give more than you are willing to give. It’s so simple that people just overlook it.

One more thing that’s important to note is that problems come with anything you do. That doesn’t mean that problems are the only thing we face, but they are a part of life. Even those who appear to have perfect lives don’t just sail through. We all have issues to deal with and burdens to overcome. That’s why football is such a great teacher. Sometimes as a coach, you believe things are going just perfectly. Everyone’s playing well and you’re on target to win the game. Then some young man who wouldn’t dream of hurting your team fumbles the cotton-pickin’ ball, and 10 other guys have to overcome that.

I’ve already mentioned the difference my parents, teachers and coaches made in my life. I must also mention my wife, Donell. She has been a profound influence on my life. In my new book, Grant Teaff with the Master Coaches, I talk about the techniques of hiring assistant coaches. I place the “DPT factor” as a key component in the hiring ritual. Every coach I interviewed had to have an affirming nod from Donell Phillips Teaff. Donell’s intuition is the “DPT factor.”

Some of the best leaders in the world are not only those who know how to build relationships, but also those who have a vision of where they want to go. Their goals are clear and on a daily basis they do the things that will allow them to reach those goals. Just as important as seeing where you want to go, is being able to sell your vision to your constituency groups. My theory is that when at all possible, the vision should be their idea.

Here are 10 traits of leaders that I’ve talked about and written about: sincerity, caring, emotion, loyalty, diplomacy, dependability, judgment, enthusiasm, fairness and endurance. I will discuss only a couple of these here. One I want to mention is sincerity, which breeds trust. A leader must have the trust of his constituency group, such as a board of directors. A good leader will research an issue and find a solution that’s best for everybody concerned. The sincerity with which the issue and the solutions are presented will build trust in others so that the goal may be accomplished.

While diplomacy is on the list and is very important, a good leader must be more than a diplomat to see his goals to their successful end. I like to think of a leader as the person who honestly looks at all sides, rationally discusses all issues and then is able to articulate what he wants to get done in a way that inspires others to jump aboard. This is more than saying something diplomatically and listening to others and being courteous. It is being able to sell what you believe is the right thing.

At my first board meeting after becoming executive director, I presented 20 major goals that I wanted to achieve and received carte blanche to do them all. They included expanding the staff, developing new programs for the convention, building a Web site and moving the office from Orlando to Waco. We built the current headquarters in 2001, and that’s perhaps the most visible change.

I hope to be able to be this kind of leader for some time to come. My father, Bill, worked full time until he was 89 years old.

About Grant Teaff:

Grant Teaff was named executive director of the American Football Coaches Association in February 1994. Prior to that, he was the legendary head football coach at Baylor University for 21 years, and in the process became one of the most effective administrators in intercollegiate athletics. In 2002, the Sporting News ranked Teaff as one of the most powerful administrators of college athletics. In December 2004, Teaff was named one of the most influential people in college sports by Street & Smith’s Sports Business Journal.

His career as a college coach has placed him in eight Halls of Fame, including the Texas Sports Hall of Fame and the College Football Hall of Fame. He won 170 football games, two Southwest Conference Championships, coached in 20 post season bowls and all-star games. He was coach of the year six times in the Southwest Conference and received national coach of the year awards from the American Football Coaches Association and the Football Writers Association. In 2005, Teaff was honored with the Amos Alonzo Stagg Award, one of the highest honors a coach can receive from the AFCA.

As a nationally known author and motivational speaker, Teaff loves to share his leadership techniques with those involved in education, the business world and particularly with coaches.

Baylor Business Review, Spring 2006

By Morgan Lawrence

One of the key factors to becoming successful in marketing is obtaining experience in the field, not just studying the key components of marketing theory and practice. Typically, over 70 percent of juniors and senior majoring in marketing at Hankamer School of Business participate in internship programs according to their individual interests in marketing.

The department is constantly changing and creating opportunities to meet the demand of the job market. “It is all about innovation, moving fast, and a willingness to try new things,” says Kirk Wakefield, chair of the marketing department. “It takes a lot of listening and practicing what we preach.”

Listening and paying close attention to the job market has led Hankamer’s marketing department to continue to evolve and offer specialties and programs unique to Baylor. Students can choose an emphasis through: professional selling; sports, sponsorship and sales (S3); arts & entertainment (A&E) marketing; advertising & promotion; retail management; and not-for-profit marketing.

Professional Selling

Baylor University was the first university in the United States to offer students a degree in professional selling, and it continues to be a leader among professional sales programs throughout the nation. In the competitive arena, Baylor students have proven their merit by winning more National Collegiate Sales Competitions and North American Sales Cup Competitions than students from any other university in the world. Opportunities include hands-on training in a sales lab, a variety of exciting internships, exposure to the very latest teaching techniques and a remarkable mentoring program alongside several successful leaders in the sales industry.

“There are very few programs that acually offer sales labs for students to hone their craft,” said Wakefield.

“The program’s greatest strength is the exposure that it provides for students to interact with professionals and executives from top selling organizations on a daily basis,” said Corey D. Munn, BBA, Professional Selling 2004. He is currently an account representative for the 3M’s Electrical Markets Division.

The Journal of Personal Selling and Sales Management also hailed Baylor as the number one ranked university for scholarly research in sales and sales management.

Companies represented in this program include: 3M, Liberty Mutual, IBM, ADP, Pulte Homes, Dell, Belo, Elk and many others.

Sports Sponsorship & Sales (S3)

The sports, sponsorship and sales major is the only one of its kind. This is because of the unique connections that Baylor has with students and professional sports teams. Students admitted into this major are guaranteed internships with the leading franchises in pro sports, including all the teams in Texas (Spurs, Mavericks, Rangers, Stars, Cowboys, Texans, Astros, Rockets, & FC Dallas) as well as the Tennessee Titans, San Francisco 49ers, Chicago White Sox or Chicago Bulls. Sports fans will note that this group includes the 2005 champions in the NBA and MLB, as well other championship teams.

Wakefield noted that, “not only do we give you the tools to succeed when you get your foot in the door, we give you the foot in the door.” Interns are given the opportunity to walk through that door and then it is up to them to build the relationships that will make them successful. The program is designed so that students who perform well in the internships have an excellent chance of continuing in that job after graduation. The key is getting the chance to showcase their abilities. Teams like the Houston Texans have received over 25,000 resumes for entry-level jobs. However, through the Baylor program, students have the training and the relationships with the teams to step to the front of the line.

Since this major is the only one of its kind, students must apply to become an S3 major. The major accepts applications in the spring of each year for its highly selective class. Each class admits only 20 students; however Baylor knows that these students will be the top performers in their field.

Arts & Entertainment (A&E) Marketing

This track in the marketing major is one of the most recent additions to the department. Like the S3 major, students are provided paid internships with major theatre and live entertainment organizations on Broadway in New York City or in other entertainment markets, including Los Angeles, Chicago, San Francisco, Detroit and San Diego.

Students work with marketing and theater professors to find their way in a profession where experience is the key element to obtain a job after graduation.

Theater and marketing majors are both allowed to apply to this track; this way the students gain unique exposure to highly creative minds from both fields and develop a strong network.

This unique program is the result of the joint work between the marketing and theater departments. Wakefield, in working with Stan Denman, chair of theatre arts in the College of Arts and Sciences, has developed key relationships with major Broadway production and advertising companies, including Nederlander, which has nine theatres on Broadway and Serino Coyne, the leading ad agency for Broadway productions. Classes work directly with local theatres on campus and in the community to develop the skills students need to be successful in the arts and entertainment industry.

For more information about all majors that the marketing department has to offer, click here.

Baylor Business Review, Spring 2006