Suggestions
Utpal Dholakia
Indian American researcher and professor
Utpal Dholakia is an Indian American academic and researcher who currently serves as the George R. Brown Professor of Marketing at the Jesse H. Jones Graduate School of Business, Rice University, in Houston, Texas. He has an extensive educational background, including a Bachelor of Engineering in Industrial Engineering from the University of Bombay, a Master of Science in Operations Research from Ohio State University, and both a Master of Science in Cognitive Psychology and a Ph.D. in Marketing from the University of Michigan.23
Research and Publications
Dholakia's research primarily focuses on consumer motivation, financial decision-making, digital marketing, and social media. He has authored over 150 articles in various academic journals and has written four notable books:
- How to Price Effectively: A Guide for Managers and Entrepreneurs (2017)
- Priced to Influence, Sell & Satisfy: Lessons from Behavioral Economics for Pricing Success (2019)
- Advanced Introduction to Digital Marketing (2022)
- Transparency in Business: An Integrative View (2023)
Additionally, he contributes to a blog on Psychology Today titled "The Science Behind Behavior" and has consulted for numerous companies across industries such as financial services, healthcare, and technology.123
Career Path
Dholakia began his academic career at the University at Buffalo as an assistant professor of marketing before joining Rice University in 2001. He has held various positions at Rice, including associate professor and full professor, and has been recognized with multiple distinguished professorships. His teaching interests include pricing strategies and customer experience, and he actively engages in consulting and executive training.234
Professional Affiliations
He is affiliated with several professional organizations, including the American Marketing Association and the Association for Consumer Research, and has served on the editorial boards of multiple marketing journals.23
Highlights
This class action lawsuit shows an interesting potential downside of AI-based price recommendations: implicit algorithmic price fixing and its potential to harm consumers substantially. The basic idea is that third-party pricing consultancies can aggregate data from competitors in an industry (hotel chains in this case), and by maximizing revenue using all the historical and prospective supply, demand, and price values from the market, essentially, their recommendations when adopted by individual sellers automatically are tantamount to collusion.
This new case was filed in California, and a similar case in Nevada (linked below) last year involving hotel operators was dismissed because there was no evidence of explicit collusion. The situation so far makes a strong case for using proprietary pricing software and limiting the types and sources of data used to generate pricing recommendations. Both links are worth reading for those interested in dynamic pricing. #pricing #AI https://bit.ly/3Ul3Nt6
The 2023 Nevada price-fixing lawsuit disposition is here: https://bit.ly/4dl4Vp0
I’ve thought that for marketers, there’s hypocrisy in embracing empathy on the one hand and advocating for partisan causes and beliefs in your work on the other. How can you be empathetic towards your customers when you don’t have an open mind or a high tolerance for opposing views?
Here’s an excellent piece by Andrew Tenzer that develops this point elegantly. He suggests moving away from cultivating empathy to deliberate perspective-taking, but even that may be too optimistic given the entrenched bias in marketing at the moment. This is worth a read for all marketers, especially those doing customer experience work that requires an empathetic mindset. (via Byron Sharp) #CX #customerfocus #marketing
