how well do you know your customer? - vlerick business...

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ISSUE 16 DECEMBER 2012

DOSSIER

MARKETING & SALES

HOW WELL DO YOU KNOW YOUR CUSTOMER?

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ISSUE 16 DECEMBER 2012

DOSSIER

MARKETING

4 RADAR

6 MARKETING & SALES

22 STUDENT PROJECT FEBIAC

24 EXECUTIVE MBA IN RUSSIA

27 SCHOOL UPDATE

29 ESF EVENT

30 FACULTY FILES

34 PROGRAMMES

10HITTING THE BULL’S EYEHow do you do marketing research in an

industry where the products are basically similar

and people don’t like to talk about money?

12THE SCIENCE OF SALESProfessionalise sales education and make

it a strategic career option – that’s what

the Sales Excellence Centre wants to do.

CONTENTS

2 / DECEMBER 2012 / VLERICK REFLECT

This magazine is printed on FSC-certi ed

paper using vegetable-based ink.

Vlerick re� ect - December 2012, n° 16 - Quarterly magazine of Vlerick Business School - Editor Hilde Van Lysebeth - Vlerick Business School - Stichting van Openbaar Nut -

Reep 1, 9000 Gent - Tel. +32 9 210 97 11, fax +32 9 210 97 00 - re� [email protected] – www.vlerick.com / Editorial coordinator Patricia Rousseau / Editorial Board Hilde Van Lysebeth,

Patricia Rousseau and Sabine Rosseel / Contributors Moira Bluer, Saskia Broeckx, Tori Kelly, Sabine Rosseel and Gavin Watt / Publishing Decom nv - ‘t Hofveld 6C4,

1702 Groot-Bijgaarden - www.decom.be / Photography Benny De Grove, Topspreker.be, Philippe Buissin and Shutterstock.

Philippe Haspeslagh, Dean, Vlerick Business School

6PANEL DEBATE

14INTERNATIONAL MARKETINGMOBILITYFrank Goedertier and Kristof Geskens

talk about their time at Kellogg,

THE place to be for

marketing research.

WORD FROM THE DEANWORD FROM THE DEANWORD FROM THE DEAN

“ DESPITE ALL THE RESEARCH THAT’S BEEN CARRIED OUT OVER THE YEARS, MANY ORGANISATIONS STILL STRUGGLE WITH CUSTOMER INTIMACY OR CUSTOMER CENTRICITY”

Professor Marion Debruyne

Dear Vlerick friend,By now you may already have discovered our new Vlerick website at www.vlerick.com, which is the second step in our rebranding exercise. This latest addition to the family was born on 13 November at 10.15 in the morning; it weighs in at 1,450 pages and measures 23,750 lines of code. It already speaks three languages: English, Dutch and Russian. And it’s just full of new tricks. So do take a look and complete your personal My Vlerick profile. We’ll then be able to pre-complete most web forms for you once you’re logged in so you won’t have to fill in your personal details over and over again. Logging in is also possible with your Facebook or LinkedIn account. And you’ll be able to inform us about your communication preferences or easily update us on your latest career move. A programme finder will help you discover which of our programmes may fit your needs. Not forgetting the many informative articles that will help you keep up to speed on the management issues you’re interested in! The next step for our web team, together with the alumni, is to turn their attention to integrating the alumni website.

All this is part of our ongoing efforts to bring our content to both the Vlerick network and the wider world, to make doing business with us easier, and to win the battle in the e-marketing space.

In this issue you can once again catch up on what’s happening at your school. Whereas in our Belgian and Dutch markets, we’re pushing against an economy in which companies take longer to decide, and longer to pay, our Russian colleagues started in October with a full EMBA classroom, a nice backlog and a growing customised activity. Internationally, demand for our customised programmes is on the increase, with new clients signing up in Russia (Kraft Foods Russia), the Netherlands (Heerema, TNO and NXP) and also here in Belgium (Cyberonics, Attentia and La Lorraine).

We are also continuing to innovate. A new cycle of our Executive MBA in Financial Services is piloting the paperless programme as participants leave behind their traditional binders and go from module to module with sleek iPads, with all the requisite materials uploaded, and equipped for note-taking. And our degree students have had the opportunity to work in mixed teams with design students to develop and pitch their entrepreneurial ideas in the context of BRIDEE, an initiative to bridge design and entrepreneurship.

The focus in this issue is on our research, partnerships and programmes in Marketing and Sales. You will discover that our Marketing team is concentrating on leading-edge issues. And consistent with our sector focus strategy, much of their research and teaching deals with financial services and retailing applications.

At the same time, we are building up an American-style expertise in Sales. The Sales Management Centre, which Professor Deva Rangarajan started in 2011, is not only developing sales management and key account management research and programmes – it’s also making a career start in sales attractive to our Masters students through a stimulating sales competition and a very active Sales Club.

We look forward to your visit to our website and welcome your feedback. Enjoy Change!

VLERICK REFLECT / DECEMBER 2012 / 3

RADAR


FLEXIBLE REWARDSFlexible reward plans can have a positive impact on employee satisfaction, as long as they’re managed strategically with a long-term perspective and designed so as to best � t the employee rather than follow the examples of best practice in the industry. Employees appreciate being able to choose the � exible rewards that suit their situation best – and companies that o� er such options become more competitive in the labour market.

MORE INFO� e full report is available on Vlerick Knowledgehttp://knowledge.vlerick.com

MORE INFO� e full report is available on Vlerick Knowledgehttp://knowledge.vlerick.com

Business angel and venture capital investments are the life-blood of entrepreneurial ventures, so it’s essential to keep relationships healthy. However, the relationship is put at risk as soon as one of the parties perceives unethical behaviour. Veroniek Collewaert and Yves Fassin have analysed this perception of unethical behaviour and found that whether the behaviour concerns feeling unfairly treated or perceiving a lack of communication, the e� ect can be fatal.

HEALTHY RELATIONS


BELGIUM 17TH MOST COMPETITIVE COUNTRY IN THE WORLD

WORRISOME GAP REMAINS � e World Economic Forum’s Global Competitiveness Report 2012-2013 ranks Belgium as the 17th most competitive country in the world. A drop of two places from last year, which keeps Belgium ahead of France, but means it hasn’t yet managed to close the gap with its neighbours the Netherlands (5th) and Germany (6th). Professor Leo Sleuwaegen: “� is index re� ects the foundations of a country’s competitiveness and de� nes its capacity for growth. In that sense, the gap with the Netherlands and Germany will weaken our position in Europe in the long term.” Nonetheless, Belgium ranks well in a number of individual categories, coming second worldwide in terms of primary education and also performing well in higher education and training. It also o� ers excellent healthcare and high levels of business sophistication and innovation. Belgium’s competitiveness performance has mainly been a� ected by a lower level of technological readiness, labour market e� ciency and the macro-economic climate. “But it’s particularly the decline in terms of infrastructure that’s a source of concern, as this used to be a competitive advantage for Belgium,” says Leo.

Leo Sleuwaegen+32 16 24 88 [email protected]

INTRAPRENEURIAL BELGIUM� e study “Success factors for intrapreneurship in various types of organisations” by our Flanders DC Knowledge Centre shows that Belgian employees are top class when it comes to displaying entrepreneurial behaviour in a company environment (= intrapreneurship). Who are these intrapreneurs? What do they come up with? And do organisations support this? “Belgium scores rather poorly when it comes to traditional entrepreneurship or start-ups,” says Pascal Cools, Director of Flanders DC. “But intrapreneurship can serve as a partial substitute.” � e results of the study show that new ideas about products and services mainly come from senior managers, and that weaker intrapreneurship is generally a result of an organisational culture in which pro-active behaviour is inhibited. � e study also demonstrates, however, that companies and organisations can work to create a more entrepreneurial corporate culture by o� ering more management support, planning in time to work on innovative ideas, recruiting a mix of people pro� les, and improving awareness of external developments.

MORE INFOwww.� andersdc.be


THE STRUGGLE WITH CUSTOMER INTIMACYWhole libraries have been fi lled with marketing and sales advice

from scientists and gurus. You’d think that organisations would

know by now what works and what doesn’t. So, is there still any

scope left for research in this area? “Despite all the research

that’s been carried out over the years, many organisations still

struggle with customer intimacy or customer centricity,” says

Professor Marion Debruyne. Why is this? And what are the other

challenges in marketing and sales? Professors Marion Debruyne,

Frank Goedertier, Steve Muylle, Deva Rangarajan, Bert Weijters and

Gino Van Ossel share their views.

Customer centricity has been at the top of most companies’ agendas for quite some time now. Why is it still an issue? Marion explains:

“In a nutshell, customer centricity isn’t only about marketing or sales; it involves the entire organisation and all business processes. It’s just not easy to get everyone singing from the same hymn sheet. Also, companies operate in a rapidly changing environment with new technologies constantly emerging. Through the internet and social media, consumers have become empowered and are therefore more demanding. It may be difficult for some companies to keep up with the pace of change.”

MARKETING HAS BECOMEMULTI-CHANNELSteve picks up on this point: “Digital technology has changed the face of marketing and sales in both B2B and B2C environments. A multi-channel approach has become the norm. Most banks, for example, offer a combination of e-banking, phone banking, ATMs and branches. They advertise using a mix of media including print, e-mail, internet, radio and television. But with marketing and sales budgets increasingly under pressure, companies are having to do more with less. That’s also why we’re seeing a shift from offline to online channels.”

10 MARKETING FOR FINANCE 12 SALES6 TRENDS IN MARKETING & SALES

Deva nods in agreement. “Personal sales is probably the most expensive channel if you factor in the overhead costs of every individual sales agent. Companies are looking for ways to make their sales force more effective - to be close to their customers yet remain profitable. For that, they have to find the right salespeople. In Europe we don’t have a tradition of sales education as they do in the US, so we want to fill this gap in the market. As companies reach out to their customers through different channels, they face another challenge, which is to coordinate these channels and to ensure that the message is consistent right across the board.”

THE QUESTION IS WHY?“I’d like to come back to the point Steve made earlier about digital technology,” says Bert. “The key question a company should ask before rushing headlong into a new technology is what they want to achieve with it. Why provide online banking? To reduce costs, to enhance customer satisfaction or both? If you don’t take time to reflect on the purpose of a new technology, it may well turn out to have the opposite effect. Also, digital technologies have made it possible to generate and store huge amounts of data. So much so


14 INTERNATIONAL MARKETING MOBILITY

17 PROGRAMMES 20 STUDENT PROJECT DOSSIER

Our marketing faculty, from left to right: Gino Van Ossel, Frank Goedertier, Bert Weijters, Deva Rangarajan, Marion Debruyne and Steve Muylle. Sitting down: Philippe Baecke.


that at one point it was thought that market research was on its way out. Why bother if you have the data? But it’s one thing to know that consumers are using your online sales channel; it’s even better to know why they use it. For companies to be able to make the right choices, it’s important that they know why people do what they do. So, there’s still plenty of scope for research. Recently Deva and I investigated the use of self-scanners in supermarkets. Why do people use them, why do they try to avoid them? Who uses them? Supermarkets have introduced this technology mainly to reduce costs. But we also found that some customers quite like self-scanning because they have the impression that it makes their shopping experience more efficient – even if the time gained is minimal.” Bert also sees the growing importance of segmentation in data analysis according to characteristics such as age, gender, income, etc. “Our research for the BNP Paribas Fortis Chair in technology banking is a good example.”

Think before you TweeTMarion: “That’s a very important point you made there about companies jumping on the technology bandwagon without a clear vision. It’s a risk we also identified in our research for the Swift Chair. We investigated how companies use crowdsourcing and co-creation to involve their customers in the development of new products and services. These are ways to enhance the focus on the customer and to improve customer intimacy. Anyway, there are all sorts of tools and technologies companies can use nowadays to support co-creation with customers – or suppliers for that matter. But for crowdsourcing to really add value, it’s important that it’s embedded in a company’s innovation strategy and development process.”

“Exactly,” agrees Steve. “Any technology should be embedded into the culture and processes of an organisation. If it’s just an add-on, then it’s pointless. If your communication policy is such that each tweet has to go through seven levels of approval before it’s published, then don’t bother. And if just a few people in the back-office who have no contact with the rest of the marketing and sales organisation are allowed to tweet, than Twitter won’t add much value to your marketing mix.”

everyone is famousBut the march of technology is unstoppable. Social media and online communications have a huge impact. Arguably one of the most exciting projects that we’re involved

reTailing 2.0

Customer centricity at work

“The retail industry can serve as a great case in point,” explains Gino. “With the advent of e-commerce, many retailers were so focused on their existing business models that they simply misjudged its added value for the customer. Many feared that launching a web shop of their own would cannibalise store sales.

“But today’s winners are the smart retailers, such as John Lewis and Sephora, whose customer-centric approach allows them to grow in spite of the adverse economic climate and steep competition from pure online players such as Amazon or Asos. They are optimising the path-to-purchase in line with the needs of the shopper by creating a connected store. Or as Jamie Nordstrom, head of Nordstrom Direct, put it: ‘If we focus on the customer, the outcome will be right.’

“At Nordstrom, customers can decide whether they want to buy online or in-store. The full range, including specs, reviews and ratings can be consulted and ordered in-store. Sales associates carry a tablet computer to assist shoppers at their discretion. Goods ordered online can be returned in-store. A dress that’s out of stock in-store can be shipped to the customer’s home at no extra charge.

“Such customer-centric retailers also aim for a single view of the customer across all channels, by integrating loyalty card data, online page views, behaviour inside the store’s app as well as logins on the store’s free WiFi network. These insights are enriched with ‘big data’ analysis, including insights from the Facebook profile of the store’s fans.”

“ a Company’s suCCess will largely depend on wheTher iTs salespeople know how To use new TeChnology”

Professor Deva Rangarajan

“ iT’s jusT noT easy To geT everyone singing from The same hymn sheeT”

Professor Marion Debruyne

10 MArkeTING FOr FINANce 12 SALeS6 Trends in markeTing & sales


in is PARIS. Steve again: “PARIS is short for Personalised AdveRtisements buIlt from web Sources. Whenever you browse the internet or use social networking sites such as Facebook you leave a trace – by posting messages, uploading images and videos, or by indicating you like something. Together with University College Ghent and the universities of Antwerp, Ghent and Leuven, we’ll be investigating how companies might use this data to personalise their ads. One of the objectives of this project is to develop a demonstrator to show how it might work.” Enthusiastically he adds: “You can imagine there’s a lot more to it than meets the eye. The interpretation of user-generated content is not as straightforward as it might seem. Blogs, forum postings and tweets are full of spelling errors and grammatical mistakes, abbreviations and phonetic writing. Standard linguistic algorithms are trained to analyse well-formed texts. There’s a similar problem with images. The existing methods for people or object recognition aren’t sophisticated enough to be applied to images that aren’t of professional quality. And we’re also concerned about compliance with privacy legislation and intellectual property rights, of course.”

Will people like this? Frank: “That’s a question worth asking. We’ll be investigating what people accept, what they object to, and why. Several companies support the project and together we’ll be developing test campaigns to determine where people draw the line and on what terms. People might be willing to give up their privacy in exchange for a discount, for example.”

HELP! I CAN’T CHOOSE“It’s walking a tightrope,” Marion adds thoughtfully. “Personalised advertising may deepen customer intimacy, but companies must take care not to cross the line. Also, customisation contributes to customer satisfaction, provided it doesn’t complicate things to the point where you don’t know what to choose any more. I really don’t want to have to make 35 decisions before I’d get my customised coffee at Starbucks.”

Frank smiles. “Overchoice, or choice overload, is another of our research topics. Overchoice occurs when the complexity of a buyer’s decision-making outweighs the advantages of diversity and customisation. For non-experts, too much information and choice can be confusing and may cause stress. Just try buying a digital camera these days! There are several ways in which companies can make choosing easier, such as decision

READ MORE

What’s so special about marketing for the fi nancial industry? Find out on p. 10. On p. 12 Deva Rangarajan explains how we want to fi ll the gap in sales education. We encourage our faculty members and researchers to gain experience abroad – Frank Goedertier and Kristof Geskens tell you all about their stay at Kellogg on p. 14.

“ THE NEXT STEP IS NEUROMARKETING”

Professor Frank Goedertier

trees for online shopping or clear, self-explanatory product names and labels such as basic, family, professional. We’ve found that these ‘choice aids’ improve customer satisfaction and we’ll be investigating whether they’re also useful for experts. They may find them patronising.”

Somewhat related to the issue of information overload is multi-sensory marketing, or multi-sensory stimulation. Frank again: “A great deal of thought has gone into the visual impact of packaging and ads. Now the focus of research is shifting towards the impact of certain choices on the other senses: touch, taste, smell and hearing. Some brands, for example, add small, unnecessary weights to their audio system’s remote controls so that they ‘feel’ more expensive. And in future we’ll go even further. The next step is neuromarketing. That is, you measure the emotional rather than the reported impact by studying the brain’s response to ads, products and environments.”

COMING UPTalking about the future. What are the key challenges ahead?

Deva: “New technologies are emerging to interact and deal with the customer. iPad applications, high-definition video, all sorts of sophisticated tracking and analysis tools. A company’s success will largely depend on whether its salespeople know how to use this technology. Coming back to the topic

of co-creation and crowdsourcing, I see a role for salespeople in identifying those customers with whom the company might actually co-create something.”

For Bert a big challenge is… big data. “From all parts of their organisation, companies are accumulating increasing volumes of raw, unstructured data that’s not being processed. There’s a strong demand for tools, models and new ways of thinking to cope with this data overload. And marketers will have to be able to manage big data. It looks like we have our work cut out for us, as teachers and as researchers.”

“Absolutely,” agrees Marion. “Marketers and salespeople will need new skills and competencies to be the bridge between their function and the rest of the organisation. That’s why we constantly evaluate our programmes to make sure our participants are well-prepared for the job - and we’ll continue to do so.”

“ IF TECHNOLOGY IS JUST AN ADD-ON, THEN IT’S POINTLESS”

Professor Steve Muylle



MARKETING IN THE FINANCIAL INDUSTRY

The fi nancial industry is not just about banking and

insurance, but spans a wide range of other services

such as leasing, real estate and asset management.

And marketing in this industry is rather different.

The sector’s credibility and reputation have taken a battering in the wake of the crisis. But besides the current socio-economic climate, there are other, specific challenges for marketing in this sector. Because the often complex products and services are regulated, marketing professionals are kept on a tight leash. And as there’s little product differentiation, the main distinguishing factors become customer relations, service and trust. Moreover, money is an emotive subject and any marketing should take into account the fact that emotions colour our financial decisions. What’s more, most people actually don’t like talking about money and are quite reluctant to share information about their financial affairs. This complicates research into that area. People will tell you all the details about the bike they’ve just bought, but they’re less open about the terms and conditions of their mortgage or pension plan. As money is a notorious conversation stopper, surveys tend to save questions about the financial profile of respondents until last – and even then they’re quite often left blank.

What should the bank of the futurelook like?Name

BNP Paribas Fortis Chair in Technology Banking

Duration

2010-2015

Scope and objectives

What should the bank of the future look like? To answer this question, we’ll investigate how the bank could best meet market demand given the competitive and technological context. What do clients really want? What are the existing and future technological options? How is the sector evolving as new players enter the market?

Research so far

We started off by exploring the technological advances and trends, the competitive landscape and the developments in generation-based marketing. We also conducted a qualitative study among clients and non-clients to fi nd out how the bank can make the most of its multi-channel approach. Having grouped our respondents in segments according to variables such as generation, fi nancial profi le and education, we analysed their needs, what channels they typically use and what for, and identifi ed any gaps.

Interesting fi ndings

Many people are still afraid of technology. “Technology fear” is an important barrier to overcome as more services are being pushed online. When it comes to self-banking, most of the stress associated with it is caused by the queue of anxious people waiting behind you, and not by having to wait yourself. Generation alone doesn’t determine whether someone will use online services. There are many more variables to consider.

Research team

Marketing: led by Professors Bert Weijters and Steve MuylleTechnology & Operations Management: led by Professors Ann Vereecke and Öykü Işik

Steve Muylle+32 9 210 98 [email protected]


10 MARKETING FOR FINANCE 12 SALES6 TRENDS IN MARKETING& SALES

HITTING THE BULL’S-EYE

How do people make fi nancial decisions today?Name

Optima Chair in Financial Planning Practice

Duration

2011-2015


How do people make important fi nancial decisions, for instance about their savings, pension plans, property and short or long-term investments? What are their concerns? Our research seeks to map their “decision journey”. Learning about how people actually think will enable Optima to adapt its marketing communications and sales process to enhance its clients’ experience. This is why we’ll also be organising workshops for Optima management to explore how our research could be translated into practice.

Research so far

We’ve established the research agenda and have just fi nalised a fi rst study, based on in-depth interviews. We asked the respondents about the different steps in their decision process, the trade-offs they make, any perceived risks, the fi nancial and cognitive costs of gathering information, etc. In our analysis we compared the results for three generations on how they make decisions about their fi nancial future.

Research team

Led by Professors Marion Debruyne and Frank Goedertier

How can you infl uence what people think of your brand?Name

Prime Foundation Partner Belfi us

Duration

Since 1993 Belfi us has been renewing its partnership every three years


As a Prime Foundation Partner, Belfi us sets the research agenda of the Vlerick Brand Community. One of our studies tried to identify which brand communication touch-points infl uence which brand communication KPIs. These touch-points can be anything from a website banner to a TV commercial. Brand communication KPIs, such as people’s attitudes towards the brand, their intention to purchase or their willingness to recommend the brand or the product, indicate how effective the communication is. Our analysis distinguished between different types of media: paid (e.g. TV, magazines), owned (e.g. company website, Twitter) and earned (press coverage, PR, buzz).

Research so far

Following a literature study, we’ve conducted qualitative interviews with a heterogeneous group of people, enabling us to identify different segments according to age, attitude towards innovation, etc. We’ve also interviewed experts from outside the fi nancial sector. Our research has resulted in a theoretical model to simulate the impact of a marketing campaign. It can be used to determine the optimum media mix for a specifi c target group. So far, the model has been tested on a group of 600 people.

Research team

Led by Professor Frank Goedertier




10 �Marketing�for�finance 12 SaleS6 trends�in�Marketing&�sales


“About 85 per cent of Fortune 500 CEOs have worked in sales at some point in their careers.

Yet precious few students consider sales a good first career option. We want to change their

perception of and attitude towards sales.” Professor Deva Rangarajan is the driving force behind our

Sales Excellence Centre, one of the first research centres in Europe dedicated to the science of sales.

Sales still has a bad reputation, which it doesn’t deserve. The pushy, unscrupulous salesman with the gift of the gab is no more than a caricature. “Good salespeople are good listeners. They explain rather than tell and help customers make an informed choice. What’s more, they’re good with numbers.” Deva smiles: “You see there’s absolutely nothing wrong with being a salesman. But it’s time to professionalise sales education.”

Hence the Sales Excellence Centre (SEC). Established in 2011, its activities can be broadly grouped into four areas, as Deva explains:

“We do academic and applied research, provide education, facilitate networking and develop tools and programmes for executive training.”

InveStIgatIng beSt practIceS“Our research aims to understand how to positively influence sales team performance and to encourage best practices - e.g. what are the drivers of sales force effectiveness? This was a question to which one of our Prime Foundation Partners, Johnson Controls, was seeking an answer. Having interviewed 40 sales professionals, one of the conclusions was that there’s a need for qualified sales professionals and people with the right attitude towards sales.”

Another area of research stems from the fact that companies are increasingly realising that it’s more cost-effective to nurture their existing customers and turn them into key

accounts than it is to acquire new ones. Deva: “Together with Prime Foundation Partner Real Dolmen, we’ve set out to investigate how to organise key account management, what competences and skills key account managers should have, and current best practices.”

And the Centre also undertakes many other research projects. Deva was recently granted a 2012 IBM Faculty Award for his work on the characteristics of successful salespeople selling complex products or projects, and on how to manage these people.

vlerIck SaleS club“We’re trying to incorporate sales into our curriculum and have created the Vlerick

reSearch educatIon

networkIng toolS & programmeS

SaleS excellence centre

sales�club

role-play�coMpetition

sales��foruM

the Sales excellence centre, a�pragmatic�approach�to�sales�as�a�science

SaleS. the beSt career choIce You’ll ever make

14 InternatIonal marketIng mobIlIty

17 Programmes 20 student Project DOSSIER


“ It’S tImE tO pROfESSIOnalISE SalES”Professor Deva Rangarajan

deva rangarajan +32 9 210 92 03 [email protected]

Sales Club along with nine sponsor companies to bring cutting-edge sales practices to our young students. We are also working on integrating our research findings into our teaching programmes, so that our students can learn about best practices. Students with an appetite for sales are encouraged to join our Sales Club, an online community and blog on sales where students and alumni can exchange ideas. Throughout the academic year the club invites guest speakers from different companies and industries. These workshops are excellent opportunities to learn the tricks of the trade.”

ROlE-play cOmpEtItIOn“To help students develop and improve their practical sales skills, we organise an annual role-play competition. Each year there’s a different product they have to try and sell. A panel of sales executives from different companies selects two winners to represent our School at the National Collegiate Sales Competition in Georgia, USA – the oldest and largest sales role-play competition in the world. Last year we took part for the first time and came third in the graduate

competition. That is quite impressive considering our students had had the least training. We were the only European business school represented there. There is no equivalent competition in Europe. That’s why, together with five universities, we’ve used EU funding to set up a European sales competition.” Is the business community enthusiastic about our efforts? “I’d say so, yes. Last year, Unilever sponsored our sales competition and we’ve since attracted eight other sponsors.”

SalES fORumDeva’s goal is to nurture a community of sales enthusiasts. The SEC website keeps this community informed and the Sales Club offers some opportunities for networking. But there’s more. “In November last year we organised our first Sales Forum, where we presented the results of our research into sales force effectiveness. This event brought together sales professionals, researchers and sales enthusiasts and was a great opportunity to share knowledge and experience. In February we plan to organise another one, this time jointly with Deloitte. We’ll be

presenting research I haven’t mentioned yet, specifically on how the sales function should work with others within the organisation - for example procurement.”

In thE pIpElInEThe Centre has come a long way in a short time, but Deva has a burning ambition and plenty more ideas. “Successful salespeople don’t work in isolation. They know how to interact with their colleagues in, say, finance, marketing, R&D or logistics. The plan is to develop a multidisciplinary training programme for sales managers in the near future, drawing on our research and experience in all these disciplines.”

SalES. thE BESt caREER chOIcE yOu’ll EVER maKE

InternatIonal marketIng mobIlIty

spreading the wordThe name Philip Kotler more than rings a bell, even if you’ve only had a brief introduction to

marketing. One of the first to treat marketing as a science, Kotler is widely acclaimed as a leading

authority on the subject. Since 1962, he’s been a professor at the Kellogg School of Management in

Chicago1, one of the world’s leading business schools and THE place to be for marketing research.

Little wonder then that our own Professor Frank Goedertier and Research Associate Kristof Geskens

have also spent some time there.

Kristof explains how he ended up in Chicago: “My doctoral research is closely linked to research by Professor Alexander Chernev, who teaches at Kellogg and is a leading authority in the field of consumer choice. I met him a couple of years ago at a conference in Barcelona. We discovered that we shared the same interests and he promised to invite me if I should ever decide to do a PhD. And because I was awarded an ICM Doctoral Fellowship2, I was able to stay for a whole year.”

how the mind worksTogether with Chernev, Kristof investigated whether the way in which people choose between different options has an impact on their final choice. “Does it make a difference if you choose directly from the entire assortment or if you first narrow down your options to just a few before deciding on one? We found that the first method results in you making a choice that better meets your initial requirements. Say you’re looking for an environmentally friendly car with minimal CO2 emissions. If you put together a shortlist, chances are that you’ll end up not selecting the one with the lowest CO2 emissions, whereas you might have if you’d chosen your car directly.” Why? “Creating a subset gives you the feeling that all products in the selection meet your requirements and you’ll then let other criteria influence your final choice. So car manufacturers shouldn’t focus on CO2 emissions alone.”

Kristof points out that this mechanism also explains why people who are trying to lose weight don’t necessarily pick the lowest calorie dessert, especially when there is a diet section in the supermarket. “Funny how the mind works, isn’t it? By the way, Chernev has written this book, The

10 marketIng for fInance 12 SaleS

1 Founded in 1908 as Northwestern University’s School of Commerce, the school was renamed the Kellogg Graduate School of Management in 1979 following a 10 million dollar donation from the John L. and Helen Kellogg Foundation. In 2001 the name was shortened to Kellogg School of Management.

2 The Intercollegiate Center for Management Science (ICM) awards doctoral fellowships in Management Science each year. These fellowships are granted annually for a period of three years and involve a one-year stay at a foreign university.

Dieter’s Paradox. I read it while I was at Kellogg and, as a result, I really paid attention to what I ate. Instead of gaining weight, as everyone had predicted, I came back from the US ten kilos lighter!”

mini-sabbaticalFor professors, international exchange is a great way to develop their network and to discover new ideas and new ways of working. Last spring, Frank spent two months at Kellogg. “I mainly worked with Professor Greg Carpenter on a research idea developed in the Vlerick Brand Management Centre.”

this is new – reallyWhat kind of research? “Most research to date has focused on the mechanisms used to get innovations quickly adopted. But to be successful, a product must also be perceived as sufficiently different from existing alternatives in the market. So we set out to investigate how a company can influence ‘newness’ perceptions. We observed that brand names are a way to influence newness. For example, counter-intuitively, we found that the same SUV model is perceived as more novel when it’s introduced by an older, prototypical SUV brand like Jeep than when it’s launched by a more innovative, less typical SUV brand like Toyota. To explain this phenomenon, we demonstrated that prototypical brands (those seen as most representative of a category like Jeep) evoke concrete images, and that people tend to see the ‘newness’ of an innovation much more easily and quickly if they can compare it with something concrete. We’ve tested our theory in five different studies, three of which were conducted at Kellogg. The results are discussed in an article that will be submitted for publication in a top-tier research journal.”

All in all, it was a busy two months. But Frank still found time for an interview with business magazine Forbes on brand name tactics, and also discovered in Chicago just how small the world is: “I’m currently doing research with Tim Smits, a KU Leuven professor in marketing communication. We discovered that our home offices are less than 100 metres apart, but it wasn’t until we both went all the way to the States that we actually met!”

6 trendS In marketIng& SaleS


EXPLORE THE GLOBE!

We encourage our faculty members and researchers to gain international experience and, in doing so, promote us abroad.

Marion Debruyne

• Wharton – University of Pennsylvania (Philadelphia, Pennsylvania, US)

• Kellogg School of Management – Northwestern University (Evanston, Illinois, US)

• Emory University (Atlanta, Georgia, US)

Frank Goedertier

• Maastricht University (Maastricht, the Netherlands)

• Richard Ivey School of Business – University of Western Ontario (London, Ontario, Canada)

• Kellogg School of Management – Northwestern University (Evanston, Illinois, US)

Steve Muylle

• Owen Graduate School of Management – Vanderbilt University (Nashville, Tennessee, US)

• Cox School of Business – Southern Methodist University (Dallas, Texas, US)

Deva Rangarajan

• C.T. Bauer College of Business – University of Houston (Houston, Texas, US)

Bert Weijters

• Smeal College of Business, Penn State University (Pennsylvania, US)




Frank Goedertier +32 16 24 88 [email protected]

Kristof Geskens +32 16 24 88 [email protected]

www.kellogg.northwestern.edu

VISITING PROFESSOR NIRAJ DAWAR

GOOD IDEAS MOVE THE WORLDNiraj Dawar is the Barford Professor of Marketing at the Ivey Business School in

Canada. He has also been a visiting professor at various universities and business

schools, including the Hong Kong University of Science and Technology, the University

of Michigan Business School and INSEAD. Currently, he is a visiting professor with us.

What does he do and what makes him tick?

How would you describe your � eld of expertise?

“I study marketing, brands, consumer behaviour and marketing strategy. My research examines how consumers think about brands. I also look at how the marketing function contributes to a company’s strategy and competitive advantage.”

A couple of years ago you spent part of your sabbatical here. Why Vlerick and why did you decide to come back?

“I came to Vlerick because of its reputation as a school that is both academically sound and plugged into the vibrant business environment in Belgium. I also have many links with Belgium: I went to high school in Brussels and my wife is Belgian. We wanted our kids to experience living here. During my sabbatical I established working relations with many people at Vlerick. We’ve continued to work on research projects and these collaborations have been very fruitful and productive.”

What does this visiting professorship entail?“I hope it’s a long-term collaboration. As a visiting professor, I’m here a few weeks at a time. For the most part, I’m doing research with Vlerick faculty members. We’ve already worked on interesting projects that have yielded useful findings, which we’ve presented to researchers around the world (we won a Best Paper award at a conference at Oxford University last year), as well as to managers in Belgium. I also occasionally teach in programmes for executives and companies. This gives me the opportunity to get the Belgian perspective on business, which to me is also representative of the larger European business perspective. Given the changes that are occurring in Europe right now, it’s a very useful point of view for me to understand.”

“ I’LL TELL YOU WHAT MAKES ME TICK PROFESSIONALLY: IDEAS”Niraj Dawar, Visiting Professor at Vlerick Business School

Niraj Dawar [email protected]

What was the scope of your joint research with Steve Muylle and Deva Rangarajan?

“The role of brands is well understood in B2C markets. B2B markets, however, tend to neglect their brand strategy in favour of customer relationships built through personal selling. We wanted to demonstrate that brands and personal selling are complementary. So we argued for a brand architecture involving the corporate brand, umbrella brands, product line brands and modifier brands. By demonstrating that these different brands play a significant and different role at every stage of the relationship-building process, not only did we argue for an increased role of brands in a B2B setting, but also showed how you can actually design your brands to support customer interactions.”

We know you love travelling. Is there anything else you’re passionate about – personally or professionally? He chuckles. “I’ll tell you what makes me tick professionally: ideas. I like to work on ideas that are both theoretically rigorous and fruitful in practice. And if I can find smart people to work with and develop these ideas with me then I’m very happy. It’s the reason I chose to be in academia. It’s the reason I’m a visiting professor at Vlerick. Good ideas move the world.”

10 MARKETING FOR FINANCE 12 SALES6 TRENDS IN MARKETING& SALES




MACINTOSH RETAIL MANAGEMENT ACADEMY

STAYING AHEAD OF THE CURVE“With the Macintosh Retail Management Academy,

Vlerick made us a programme that is broader

than retailing,” says Frank De Moor, Chairman of

the Macintosh Group. “It allows my international

key retail management to be ahead of the curve.”

Macintosh is a major retailing group based in the Netherlands with subsidiaries in several other European countries – most notably Belgium and the United Kingdom. It specialises in shoes (Brantano and Scapino) and lifestyle (Kwantum).

Chairman Frank De Moor is a strong believer in further education for his personnel: “I chose Vlerick in the first place because they put together a programme for us that was broader than just retailing. It also included the latest trends in finance and negotiation, for example. Secondly, they knew all about the very latest techniques and ideas in fashion retailing from around the world. Our type of business changes incredibly quickly, and we have to keep up – even be ahead of the curve. I for one was stimulated by the Vlerick courses, and I know my team was too. We all took away a lot more than we could have imagined: not only did we learn to listen to each other and work with a common methodology, but we also bonded as a team – both in and outside the classroom. On reflection, that was perhaps the most rewarding part of the training.”

‘JUST WHAT WE WANTED’Frank is particularly complimentary about Gino Van Ossel, Adjunct Professor in Retail & Trade Marketing, who led the courses: “Every single course in our programme was excellent and just what we wanted.

Gino Van Ossel+32 9 210 98 [email protected]

www.macintosh.nl

This is very much thanks to Gino’s energy and expertise. He certainly knows how to get and hold an audience’s attention. From the first moments of the first lesson, it was clear that he’s someone who knows exactly what he’s talking about.”

IMPROVEMENT ON BOTH SIDESGino adds his pennyworth: “I’m actually very fortunate that there are not more experts in the retail industry in Europe. I’ve understood just how important it is to combine the strategic aspect with the day-to-day issues, and put them across in a way that’s understandable and engaging. I love nothing more than improving my theories and models, so a chance to work with Macintosh was wonderful. I was able to compare my ideas with theirs – and that’s how we get improvement on both sides.”


“I’ve worked in the retail business for

25 years, but I still learned an awful lot”David Short, Managing Director of Brantano UK

One of the participants, David Short, is honest about what he expected, and equally so about what he experienced. “I must confess to having been a little apprehensive about coming to Belgium for innovation training, particularly in the area of fashion retailing. I took over the Brantano chain in the UK when it was bought by the Macintosh Group in 2007, and faced a huge challenge to improve the profi tability of a business that was in decline. There’s no doubt that the learning from Vlerick has been of great benefi t in the process of improving business performance. Gino was fantastic right from the word go, and full of energy and good ideas. I’ve worked in the retail business for 25 years, but I have to say, I still learned an awful lot.”

Creating Customer Value

Don’t think proDuct, think customerWhen people come out of a course saying they’ve had one of the best training sessions ever, it’s worth

digging a little deeper. Why was it so good? Specifically, what was it that excited the BNP Paribas

Fortis marketing team so much about our Creating Customer Value programme?

Changes were everywhere in 2009 at BNP Paribas Fortis: a new owner, a new name – and they were about to launch a new marketing strategy focusing more on their customers (and less on products). And while it was clear that a number of factors had led to this change (the crisis, the new management and lower levels of customer satisfaction), it was the right time to change focus and “create more customer value”.

teaching a new languageIt also became apparent that the whole marketing department needed to learn about this new way of thinking, so a tailor-made training programme to help them better understand the new strategy was needed. “It was”, says Annelies Wybo, HR adviser within the company, “a bit like teaching everyone a new language. The idea was to help us all move from one type of marketing thinking

10 marketing for finanCe 12 sales

exeCutiVe master Class B2B marketing & sales

how to sell the price“As an engineer, you may have good analytical skills, but that

doesn’t make you a good salesman.” An experienced engineer,

Vincent Forge felt that after ten years in various technical positions,

the time was right to move on. He wanted to get into sales, but

didn’t want to venture unprepared. The Executive Master Class in

B2B Marketing & Sales was the answer.

a methoDAs Bid & Business Development Manager at communications services company BT, Vincent is responsible for proposing bids to existing and prospective customers. He manages a virtual team of ICT specialists and liaises with customers. It’s his job to ensure that the bid process runs smoothly and that

the proposed solution meets the customer’s requirements, time and budget. He also advises customers and BT sales representatives on the technical and financial feasibility of business opportunities.

He took the Master Class in 2011 and certainly wasn’t disappointed. How has it helped him in

his job? “The programme has taught me a lot, but most of all it’s given me a method, a logical and analytical approach to identify promising business opportunities. And I’ve learned how to analyse the competitive landscape better.”

marketing imaginationAlthough his primary interest is in sales strategy, Vincent particularly liked the Marketing Imagination module – and not only because it took place in Barcelona, where he and his fellow students enjoyed the vibrant nightlife! “Marketing is more important than I initially thought. As a salesperson, you have to be able to demonstrate the value of your product or service. You have to more or less

left: leen teunenright: annelies Wybo

6 trends in marketing& sales


www.bnpparibasfortis.com

14 InternatIonal marketIng mobIlIty

17 Programmes 20 Student project DossIer

executive master class in b2b marketing & Sales: four modules of three to four days spread over 12 months, including an in-company project. the first module starts in February 2013. classes are held in bruges, leuven and ghent; the final module is organised abroad.

“ I came uP wIth an aPProach that has helPeD us wIn busIness wIth new customers”Vincent Forge, Bid & Business Development Manager at BT

elke Vijverman+32 9 210 98 [email protected]

sell the price your customer will have to pay. This module taught us all about how to create market opportunities, product value and brand name value.”

InteractIonHe felt there was a good balance between theory and practice. The group and individual exercises allowed him to apply theoretical principles and to deepen his understanding of the real-life challenges involved.

“Equally important was the interaction between the participants and with the professors. I realised the others were trying to deal with similar issues and challenges. Our discussions continued even after class!”

Finally, he has nothing but praise for the organisation of the Master Class:

“The programme coordinator did a wonderful job behind the scenes. It can’t have been easy.”

a wInnIng aPProachAs part of his in-company project, Vincent developed an approach to improve the success rate of the BT Professional Services branch in the Belgian market when bidding for public-sector contracts. “Combining everything I’d learned in the modules, I came up with an approach that has helped us win business with new customers.”

to another. The goals of the course were established by the marketing team managers, and with Vlerick’s help we worked out what precisely was needed.”

team-bInDIngLeen Teunen, Director Marketing Private and Save & Invest., takes up the story: “This was the first time we’d created our very own training programme. We’d done courses in the past and ended up being a little disappointed. This time, under the guidance of Professor Steve Muylle, we got just what we wanted. So not only was it interesting, it was a wonderful way of binding the team together, as managers and the team worked side by side.”

grateful for the boostAs it now stands, a little over 100 people from marketing have completed the courses, spread out over five days for a period of four months. As Leen explains, “The best thing is that we now have a framework and a methodology to help us channel and focus our thoughts. Everyone has certainly benefited and we’ve had some very positive feedback. It has galvanised the whole department and we’re very grateful for the boost.”

no regretsWhen asked why they had chosen us, Annelies was quick to answer: “We chose Vlerick because one of our marketing managers had attended a seminar there and was very

“�It was a bIt lIke teachIng everyone a new language”Annelies Wybo, talent development adviser in HR Retail & Private Banking

enthusiastic about the practical approach. So even though there were other companies and schools on the shortlist, in the end we went for Vlerick. We have no regrets. Steve Muylle and Deva Rangarajan are outstanding at engaging and working with their students and also love hearing the stories they have to tell.”

total reshaPeNow while it’s difficult to quantify the ROI of such a course in terms of direct financial gain, it has totally reshaped the way the department works. “It’s great,” says Leen.


STUDENT PROJECT


Students Isabella Moller, Tatiana Captari and

Yingying Wu approached Cummins not only

because it’s a Fortune 500 company, but more

importantly, because Cummins is a diverse

international team like the students themselves,

who are from Venezuela, Moldova and China,

respectively. A connection was made, mutual

enthusiasm was sparked – and a lot of hard

work did the rest.

It only takes a few minutes with Dominique Van Gorp, Director Business Development EMEA at Cummins Filtration, to feel the infectious enthusiasm he has for both his company and the Customer Relationship Management (CRM) project completed by the three Masters in Marketing students this last academic year.

“You only get out what you put in – so we decided to leverage their talents and have them work on a project that adds mutual value for the students and for the company.”

The assignment was to develop a best-in-class CRM strategy for the aftermarket distributors of Cummins Filtration in EMEA. Cummins Filtration Inc. is a wholly owned business unit of Cummins Inc. and the world’s leading designer and manufacturer of air, fuel, hydraulic, lube filtration and fuel additive technology products for all engine-powered systems, sold under their core brand, Fleetguard.

NO RUSHED DECISIONSThe basic question was: what is the best way to implement a new CRM strategy (using Siebel software) knowing that such initiatives quite often fail due to a lack of management focus as well as team buy-in? The students conducted numerous internal interviews, did scientific research and also completed a small-scale customer trial in the Nordic region. Not only did they redesign the Target Account Management process, they prepared the training and defined next-step priorities. And, more importantly, control mechanisms were put in place with milestones and timing to keep the whole organisation on track. Dominique: “Now that the recipe book for top-class CRM has been made, the programme is being rolled out across EMEA when target account data is uploaded and becomes available.”

OPEN ATTITUDEIsabella sums it up nicely: “We not only received great guidance from Laura Demartin, who led the project on the Cummins side, but could count on an open attitude as well, specifically from Dominique, who was always willing to listen to our suggestions.” On our side, the students could rely on the expert advice of Deva Rangarajan, Associate Professor and a specialist in CRM – in fact he was overjoyed at being able to dive back into the subject on which he wrote his PhD thesis.

www.cummins.com

“ CONTROL MECHANISMS WERE PUT IN PLACE WITH MILESTONES AND TIMING TO KEEP THE WHOLE ORGANISATION ON TRACK”Dominique Van Gorp, Director Business Development EMEA at Cummins Filtration

BEST-IN-CLASS CRM ROLLS OUT WORLDWIDE

In search of excellenceIn search of excellenceREBEL TO EXCEL

16 | 05 | 2013Point this date in your agenda:

A quest for many companies today; looking for something more, going the extra mile, ...just to excel. Our speakers will interpret this differently by exploring the multiple facets of ‘Rebel to Excel’ each in their own way whilst having one thing in common: they do ‘it’ better than the rest.Are you rebel enough?

The 25th edition of the Marketing Colloquium calls for excellence as well. Block this day into your agenda & be part of the ‘rebel to excel’ edition!

Your partner in creative communication:

VLERICK ALUMNI MARKETING COLLOQUIUM 25th EDITION

Give wings to your communication

brand development • advertising • packaging digital communication • corporate identity

VLERICK_REFLECT_297x210.indd 1 31/10/12 08:50

You are invited to our

WINTER REUNION 2012ICC Ghent – December 19, 2012 as of 7:00pm

“LOOKING TOWARDS TOMORROW... TOGETHER”

Keynote speech by H.E. Howard Gutman, US Ambassador to the Kingdom of Belgium

Mr. Gutman is certainly the most known, if not the most popular US ambassador ever in Belgium. Before being named as Ambassador Mr Gutman has long been active in Democratic politics and was one of Washington’s “super lawyers”.

This event is exclusive and free for paid-up Vlerick Alumni members All event details and subscription now on: www.vlerickalumni.com/winterreunion2012

This event is only made possible thanks to the support of:

With the OBAMA II administration in place, Mr Gutman will give us his insights on the biggest challenges Europe and the US face together in the coming years.

AD_winter_connect.indd 1 23/11/12 12:29

STUDENT PROJECT EXECUTIVE MBA


MAXIMUM ROI FOR RENOVATED FEBIAC OFFICES

GRAND DESIGNSFor those students doing an Executive MBA, it’s clearly best when their fi nal-year project relates

directly to their “day job”. Professor Filip Roodhooft, Research Director at Vlerick, confi rms this

point: “The fi nal project should be useful for the company or organisation involved, and should

adopt the right methodology and project approach.” This was certainly the case for the project of

Pierre Hermant, who had to renovate the new Febiac offi ces and set up a corresponding business

plan to maximise the return on investment.

Pierre Hermant did an Executive MBA in Leuven between 2008 and 2010. Earlier in his career he had worked for the European Business Summit, but – as is the way of the world – he was headhunted in 2009 by Febiac, the Belgian trade organisation representing the automobile and transport industry. As General Manager of the Brussels Motor Show, Pierre was made responsible for the Febiac office building in Sint-Pieters-Woluwe.

“The building dates back to 1973, and was fully occupied up until the year 2000: Febiac used two floors and the rest was rented out. Sadly, the building had not been modernised, and so gradually the tenants had moved out, leaving the offices empty. Part of my new job was to renovate the building and make a business plan to maximise the ROI.”

LAMBORGHINI DESKSThis specific task became his end-of-year project. The two floors to be occupied in the future by Febiac were renovated while Pierre generated his business plan for the rest of the building. While he’s no renovation expert, Pierre has quite some experience in real estate (privately) and was able to transform the old offices into a modern working environment with relative ease. He’s rightly proud of some of the details: “I quickly decided it was better to work with a designer rather than an architect. And it’s worked out well. Look here, these desks have been designed with the profile of a Lamborghini!”

PEERS FROM ALL WALKS OF LIFE“The strategy for the other parts of the building gradually became clear during my MBA,” Pierre adds. “Each aspect of the programme

SINCE THE BUILDING OPENED IN JUNE 2011, IT HAS CATERED FOR MORE THAN 1,000 DIFFERENT FUNCTIONS

Filip Roodhooft+32 16 24 88 36fi [email protected]

contributed something to making the project better. The strategy course taught me how important differentiation was, while marketing showed me how to build a costing system. I also had lots of conversations with my peers. They came from all walks of life, and each had a unique perspective. Of course, I had to prioritise what I could do – but ultimately all the big decisions were mine. I’m very happy with the final result.”

The results have certainly proved that good planning works. Since the building opened its doors for seminars and events in June 2011, it’s catered for more than 1,000 different functions.

ST PETERSBURG ATTRACTS A MELTING POT OF TALENTThis year’s Executive MBA in St Petersburg has just got under way, with some 38

professionals embarking on the 20-month modular programme. “We have an excellent mix

of participants,” says Anastasia Korshunova, Head of Marketing and Sales at the

St Petersburg campus. “Our students include corporate partners, owners of Russian

businesses, mid-level managers of global companies, civil servants, doctors and designers.

And there’s a good balance of sectors with people representing the pharmaceutical industry,

retail, manufacturing, consulting and banking. It’s a real melting pot of talent. We believe

that our MBA has more scope if there’s a wide mix of industries represented.”

ALMOST HEAD-HUNTING The success of the programme starts with the application process. “Because we want to have a good mix of industries and backgrounds, we’re very particular about admission, almost head-hunting each candidate,” says Anastasia. “We try to create a unique atmosphere of creativity, out-of-the-box design thinking and leadership development within a group.” This year, recruitment was over by the end of August, some two months before the start of the programme. “And we now have a waiting list, which means we’ve already got around 25% of next year’s group.”

RELEVANT AND CHALLENGINGOne of the programme’s main selling points is its relevance to the Russian and international market. “Our triple crown accreditations in the European EQUIS, the British AMBA and the American AACSB reflects the quality we offer, and this is important to our Russian students. But just as important is our relevance to the market. We work hard to put theory into practice with the help of our participants and professors through the development of case studies and consultancy projects. One of the most fascinating aspects so far this year has been establishing relationships with our new students and meeting clients who have volunteered to help make the MBA programme more relevant to the emerging Russian market. This network of clients is providing us with access to the unique practices of the most successful businesses in Moscow and St Petersburg.”

STIMULATING SPEAKERSThe programme is also enriched by guest speakers, both local and international, talking about their experiences. Anastasia: “It could be a sportsman such as Belgian footballer Axel Witsel, or a talented director of one of the Russian theatres coming to tell us how he manages artists. It could even be a successful or unsuccessful entrepreneur analysing his or her own experiences. The idea is that group discussion is stimulated, becoming more vibrant and relevant and extending beyond the classroom.”

“ WE‘VE ALREADY GOT 25% OF NEXT YEAR’S GROUP”Anastasia Korshunova, Head of Marketing and Sales at the St Petersburg campus

Anastasia Korshunova+7 921 938 99 [email protected] www.vlerick.ru


InternatIonal news - russIa

Friendly but professional atmosphere“The friendly but professional atmosphere during the application process took away the stress and made it enjoyable. Vlerick has a strong reputation and I expect the MBA programme will help me develop a better understanding and management of the processes in which I’m involved.”

Dr Kirill Koshkin, owner of a psychotherapy clinic, Moscow

Maria stupakova, Accounting and Reporting Director, LENTA, St Petersburg

More practical and fun“I was already familiar with Vlerick as they give corporate education programmes at 3M, but I was still very conscientious when I looked into possible MBA courses. The School’s reputation, the programme modules, the professional staff and the atmosphere were all weighed carefully before I decided to go for Vlerick. Now we’ve had our first few sessions, I can say I’m already pleased with my choice. Our class on Managerial Economics, a subject I found rather tedious at university, involved lively discussion and case studies that we worked on in teams. It made the learning process far more practical and

Develop as a person“An Executive MBA is the best way of obtaining the information you need to understand all areas of business. It can help increase your ability to influence your company, add value to the business by giving you new insights into your work, and enable you to develop as a person and gain confidence. I chose Vlerick, basically because it was the only school offering quality, international teachers and a modular format that I could fit around my work schedule.”

Petr Korotkov, Head of Business Development, 3M, St Petersburg

a change of direction“There is no other business school in Russia that can compare to Vlerick with its excellent quality of western education. The application procedure was very structured and efficient and the information session gave me a good impression of the School and what to expect. With the first module now completed, I can safely say I’m enjoying everything. The sessions have confirmed my expectations in terms of new contacts, experiences and knowledge. I’m sure I’ll be able to quickly apply this knowledge in my work but I’m also confident it will enable me to give my career a boost.”

Yana Deryugina, Head of Internal Audit, Rosvodokanal, Moscow



‘Content is king’, especially if you’re looking to publish on tablets or smart-

phones. All too often, mobile publishing is technology-driven, with apps

being developed based on print-ready PDFs. Cost-effective it may be, but

who wants to read a magazine in PDF form on their tablet? At the other end

of the spectrum, there are apps with all the fancy features you could want.

Brilliantly designed, but way beyond the budget of most companies and

organisations. We combine the best of both worlds: we review, reorganise

and display your content as a coherent narrative that works on a mobile

device, using technology for maximum effectiveness. www.decom.be

This mag CONTENT

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SCHOOL UPDATE

MASTERS MOVES UP FT RANKINGOur Masters in General Management programme has risen three places to 32nd in the 2012 Masters in Management ranking issued annually by the Financial Times. Our achievements in the key indicators are particularly notable, with value for money earning 10th position, and career status 20th position, indicating that our students have excellent career opportunities within three years of graduation. Marion Debruyne, Professor of Marketing and Director Masters Programmes: “This is the result of continued investment in the programme. Our focus on action-based learning and personal development clearly provides our students with the necessary tools for successfully launching their career.”

IPADS IN MBA-FSI

SWIPING PIONEERSThe MBA-FSI programme – a specialist MBA for the financial and insurance sector – has become paperless. Instead of bulky folders of case studies and course materials, each participant will now have their own iPad installed with pre-configured applications specially designed for the course. “The bi-weekly modules take place in every corner of the world, so the programme is an ideal test case for the iPad,” explains Programme Manager Jonathan De Grande. “It doesn’t just mean the elimination of paper; it also reduces our ecological footprint by avoiding the unnecessary transport of reading materials.” The iPad also opens the door to more interactive teaching with additional material and video able to be added before, during and after lectures.

Jonathan De Grande+32 9 210 97 44 [email protected]

MORE INFOwww.mba-fsi.com

OUR BRUSSELS CAMPUS

WORKS IN PROGRESSIn the previous edition of Vlerick reflect you discovered how our new Brussels campus will give a brand new outlook on the Manhattan Center. If the works continue to proceed as planned, we will be welcoming our first participants in June 2013. “This state-of-the-art learning and research environment in the heart of Europe will not only host our degree students (Masters and MBA), but also our executive education clients and corporate partners. Above all, it will be the hub for our Centre for Financial Services”, General Director Patrick De Greve comments. “The Brussels campus is central to the strategy of the school in terms of internationalization of customers and faculty, in terms of recognition and future development. It is both an opportunity to broaden the addressable market, reaching out to an increasing number of international companies and their talent base in and around our capital. We want to bring the true Vlerick DNA alive in Brussels as we are doing in Ghent, Leuven, St Petersburg and Bejing.”

MORE INFOwww.vlerick.com


FORUM FOR SOCIAL ENTREPRENEURSHIP

SOCIAL CHANGESocial entrepreneurship is an increasingly

relevant issue and here at Vlerick

we’re keen to stimulate and aid related

activities. This gives us the opportunity

to apply our entrepreneurial principles

in organising, creating and managing a

venture – not one designed to generate

profi t and return but rather to achieve

social change. One of the ways in which

we foster social entrepreneurship

is through the Forum for Social

Entrepreneurship, a platform that

believes an enterprise approach is the

best way to create jobs, empower the

poor and transform communities.

The Forum was founded by Professor Hans Crijns, Frank Verzele and a group of entrepreneurs within our network. It aims to increase awareness of social entrepreneurship through management education, network sharing and, of particular interest for budding social entrepreneurs at Masters and MBA level, funding for in-company projects. “The Forum basically pays the fee,” explains Kim Swyngedouw, Product Manager for Open Executive Education. “Although the project goes through the same screening as any other project, the Forum is brought in to assess the company’s social entrepreneurial aspect. They may have a commercial mindset, have a business model and make a profit or loss, but they put their profit back into the company to focus on the particular social issue they’re working on.” The result is a win-win situation in which the students get hands-on experience of how social entrepreneurship works, and the organisations get a solid project report presenting clear solutions ready for implementation.

MORE INFOwww.vlerick.com/en/social-profit-partnerships

Thanks to the Forum, two of our students took on an in-company project for Trias. With its partner organisations, this NGO sets up sustainable projects for micro-entrepreneurs and family farmers in the South. Francoise Dejaeger: “In order to work more effi ciently and transparently, we needed to develop a CRM system. But as we’re reliant on subsidies and donations, it’s not something we can afford to invest in.” In just eight weeks, two students mapped out how Trias works and what it needed for a CRM system. “Our organisation is complex, but their fi nal report presented well-founded recommendations,” Françoise comments. “It covered our CRM needs, but also highlighted opportunities we hadn’t thought of, linking systems and departments within the organisation.”

MORE INFOwww.triasngo.be

Trias vzw

FUNDINGPROVIDER

SOCIAL ORGANISATION

FORUM


De BoerFunding for the Forum comes from a group of generous companies within our network. Commercial and family-owned, they see it as a means of giving something back to society. One of these companies is De Boer, producer and supplier of waterproofing solutions and services. “We’re very fortunate to be entrepreneurs in this environment,” explains Dirk Mertens. “And we believe that entrepreneurship can generate welfare. As a means of promoting this concept in less fortunate areas, we support organisations that have this same goal and are active in underdeveloped regions. It’s an idea that was born out of the entrepreneurial heart of Vlerick and reflects its social positioning.”

MORE INFOwww.deboer.be

A fresh look at your companyFor our MBA and Masters students, the in-company project is an important final stage of their studies. “The projects basically provide companies with three on-site consultants fully dedicated to producing a document in just two months,” explains Sara Teuwen. “The final report not only explains the consultancy question and how it was handled, but also provides concrete tips on how to implement these recommendations.” The projects cover a broad range of potential subjects, from market entry strategy to activity-based costing. “The students apply the latest business theories, and also get expertise support from our professors. And as a bonus, companies get to meet new high-potential recruits.”

Do you want our students to take a fresh look at your company? Submit your in-company proposals through www.vlerick.com/projects

• Market research projects by 31 December 2012

• General & financial management projects by 31 January 2013.

MORE INFOKatrijn Everaerd+32 9 210 92 [email protected]

school upDAte

17 DeCeMBer 2012

tAlent 2.0 event

On Monday 17 December, the Ghent campus will be hosting Talent 2.0, Innovations in Learning, Careers and Organisation Development. This one-day event for HR managers, coaches and anyone with an interest in the topic will be looking at how employee talent development can create competitive advantage for companies. In a market where lifelong employment has made way for lifelong learning, it’s essential that businesses focus on the potential talent within their organisation and motivate employees to strive for self-development.

The event is sponsored by the European Social Fund (ESF) in collaboration with the ESF Ambassadors 2012: Vlerick Business School, Vokans and SERV. Participation is free. The programme includes workshops, forums, and debates with leading experts in the field and inspiring keynote speaker Professor Mathieu Weggeman. It aims to inspire participants and provide them with a variety of tools and products to help them find, attract and keep talent in their organisation.

VrT anchor Wim De Vilder will moderate the panel debate in the morning.

MORE INFOProgramme and registration at www.vlerick.com/talent2/0

Saskia Drieghe+32 9 210 97 [email protected]

© T

opsp

reke

r.be

Mathieu Weggeman


With a background in electrical and commercial engineering, Leonardo Meeus has been specialising in the energy sector for some ten years, looking at the challenges through the eyes of an engineer and economist. “But those challenges are increasingly of a managerial nature,” he says. “It’s a fast-moving industry. The market is becoming more liberalised and sustainable and this is driving huge changes in the way energy is produced, in the industry’s infrastructure, its financing and the business models. Consumers are becoming producers and everything is changing. At such a time, a business school is a good place to be to work on these challenges.” One of Leonardo’s first tasks is to develop a new programme that is energy-sector specific. “The idea is that we bridge what I’ve been doing at the Florence School of Regulation with what I can do here. The faculty will bring together people with specific sector expertise and others with general management knowledge: a strong combination for new things.”

Leonardo MeeusAssociate Professor of Energy Markets


OUR NEW FACULTY

Education PhD in Electrical Engineering (KU Leuven), Masters in Commercial Engineering (KU Leuven)

Fields of expertise Electricity industry, regulation, energy markets, energy technologies, energy networks, European energy policy

Career so far Research Fellow, Florence School of Regulation (2008-present); Visiting Professor, KU Leuven (2009-present)

The number crunching side of marketing and purchasing behaviour has long appealed to Philippe Baecke. “I’m a business analyst through and through and enjoy finding out how we can use the data companies gather to predict behaviour. Of course, the psychology side of marketing can help us find patterns so as to optimise purchasing models, but data mining helps to implement these findings on a large scale.”

Companies are increasingly recognising the value of business analysts like Philippe for transforming the massive amount of data they collect into a useful form. “The information can be used for several strategies but I apply it to marketing. For instance, I’ve helped analyse customer purchasing behaviour for a supermarket so that they could send their customers personalised discount coupons. With our models, we practically know what consumers will buy before they do themselves.”

Philippe will be involved in business projects, teaching and research. “My research is fairly technical, focusing on developing models and exploring programming language, whilst my teaching will cover the more managerial side of these techniques and how they can be used to improve customer relationship management. The close collaboration with business is important for me. To do my research, I need databases. And those databases come from companies.”

“I NEED DATABASES!”

Education PhD in Applied Economics (Ghent University), Advanced Masters in Marketing Analysis (Ghent University), Masters in Applied Economics (Ghent University)

Fields of expertise Customer relationship management, database marketing, geo-marketing, interactive marketing

Career so far Course assistant for Advanced Topics in Marketing (2011-2012), Analytical Customer Relationship Management (2007-2010) and Marketing Information Systems (2008-2012), PhD student (2007-2012)

Philippe BaeckeAssistant Professor in Marketing

“ ENERGY CONSUMERS ARE BECOMING ENERGY PRODUCERS”

FACULTY FILES

Veroniek CollewaertAssistant Professor of Entrepreneurship

Veroniek Collewaert attained her PhD in Applied Economics but with a less than traditional research topic, namely the investment relationship between investors and entrepreneurs. A fascination with the people side of � nance spurred her to take a di� erent slant on the � eld: “I developed an interest in interpersonal dynamics, which has since led to research into the role of trust and its potential negative e� ects, and more recently the role of unethical behaviour among entrepreneurs and investors. One of my frustrations with research papers is that they contain really important messages but don’t always reach the people who can actually use them. Yet isn’t that why we do research? To help the people in the � eld? Vlerick’s close partnership with industry is one of the ways it ensures the ideas from its research get applied in practice. It creates value.”

One of the topics Veroniek will be teaching and researching with us is social entrepreneurship. She admits she fell into teaching the subject by accident, “but it’s now a very familiar � eld and I’m looking forward to establishing it more � rmly here. It’s one of those terms that people initially tend to associate with charities or hippy movements, but it’s really anything but that. It’s a very inspiring � eld and the people that sign up for classes all seem to have the same desire to want to change the world. It’s an honour to be able to teach that kind of class. Social entrepreneurship is increasingly relevant and something that we should be stimulating and helping.”

“ SOCIAL ENTREPRENEURSHIP IS INCREASINGLY RELEVANT AND SOMETHING THAT WE SHOULD BE STIMULATING”

Assistant Professor of Entrepreneurship Assistant Professor of Entrepreneurship


Filip AbrahamProfessor of International Economics

Professor Filip Abraham is already a familiar face, as he’s been working with us in one way or another since 1998. He’s also well-known at KU Leuven, where he is currently Vice-Rector. With his term there coming to an end, Filip is going to be able to devote more of his time to Vlerick. “� is year is a sort of transition period, but a� er that I aim to step up my commitment here. I’ll be developing the amount of teaching work and in-company projects and training I do, and I’m going to be increasingly involved in building up the campus in Brussels. It’s a challenge I’m looking forward to, as there are several areas we want to develop in Brussels that lie within my � eld of expertise, including European integration, European business and � nancial regulation.

“My other research interests lie in international business and international economics. � e two � elds are very close; it’s just another focus. Whether I’m consulting on a macro or a micro level, the approach is the same – apply the theoretical frameworks to explain how a situation will a� ect the environment and make sure you cover a wide enough range of the spectrum to make it interesting for companies. � e next step is to focus on a speci� c issue such as strategy or social responsibility, but that’s where other experts at Vlerick come in.”

“ I WILL BE MORE INVOLVED IN BUILDING UP THE BRUSSELS CAMPUS”

Education PhD in Economics (University of Michigan, USA), Masters in Economics (KU Leuven), Special BA in Philosophy (KU Leuven)

Fields of expertise International economics and international business, European integration and European business

Career so far Vice-Rector, KU Leuven (2005-present); Professor of International Business, Vlerick (2000-present); Professor of International Economics and European integration, Faculty of Business and Economics, KU Leuven (1987-present); Professor of International Business, University of Rochester/University of Bern (1996-present); Dean of Faculty of Business and Economics, KU Leuven (2001-2005).

Filip AbrahamProfessor of International Economics

Education PhD in Applied Economics (Ghent University), Masters in Applied Economics (Ghent University)

Fields of expertise Angel fi nancing, venture capital, confl icts, social and sustainable entrepreneurship

Career so far Assistant Professor of Entrepreneurship, Maastricht University (2009-2012); Visiting Researcher, Graduate School of Business, Stanford University (2007-2008); Teaching and Research Assistant, Department of Accounting and Corporate Finance, Ghent University (2003-2005)

Some complain about the ‘vaporisation of value’ and ‘demonetisation’ of entire industries, while others have found new ways to subsidise their content. Opportunities to adopt a free business model have never been greater. At Vlerick we see the positives in change. Above all, it means helping organisations and individuals evolve in response to the new realities. Change challenges us to think ahead and fi nd new solutions for tomorrow’s world. Find out how you can learn to enjoy changeat WWW.VLERICK.COM/ENJOYCHANGE

IF CONTENT IS FREE, HOW CAN YOU MAKE A LIVING IN A CONTENT-DRIVEN WORLD?

VLERi8033819 adv. Reflect (november) 141x210mm_v3.indd 1 05/11/12 11:45


Yuliya ShymkoAssistant Professor of Strategy & Entrepreneurship

Having worked as a consultant on large research projects for influential clients, Yuliya Shymko moved into teaching and research some four years ago. Fascinated by models and theories generally considered too complicated or irrelevant by practitioners, she found that through teaching she could test out her twist on these ideas. “Teaching gives you a chance to step down from your ivory research tower and validate your work. You can see how people react to ideas and whether they can be made more realistic and usable, spun around and made significant. You can test whether the theory really has any kind of resonance with the people who would use it. We cannot live in parallel worlds as academics and managers. It’s of primary importance to talk about research in the classroom and students like those at Vlerick can give constructive feedback on it. It’s a two-way relationship in which we get to learn from each other.

“Vlerick has an intellectually invigorating environment and a palpable team spirit. Collaboration in a team like this advances scientific knowledge. With peer reviews, it’s not a case of defending your ideas, but of strengthening them. Sometimes we love our own ideas too much to be able to judge them critically, but constructive criticism makes them better. At the end of the day, it’s not about you as a researcher; it’s about how rigorous your work is. And the rigour of your work depends on how well criticised it has been – by peers and business.”

“ BUSINESS AND ACADEMIA CANNOT LIVE IN PARALLEL WORLDS”

Education PhD in Strategic Management (IE Business School); MBA Cyprus International Institute of Management; BA & MA (Hons) in Economics, Belarus State Economic University

Fields of expertise Public-private partnerships, cross-sector collaboration and ethics, corporate governance in emerging markets, corporate social strategy, micro-management issues

Career so far Associate Professor of Sociology, Globalisation & Intercultural Communication, IE University (2011-2012); Teaching Assistant for Quantitative Methods I and II, IE Business School (2009-2011); Deputy Research Manager, Synovate Poland (2005-2007); General Manager, Synovate Ukraine & Belarus (2003-2005)

How will life be di� erent in the next 10, 20 or 30 years?Be provocative and be honest – tell us how you see change in the future on WWW.VLERICK.COM/ENJOYCHANGE.

We’ll be choosing the best ideas and publishing them as part of the on-going campaign for the school.

WHAT’S YOUR VISION OF THE FUTURE?

VLERi8033819 adv. Reflect (november) 141x210mm_v3.indd 2 05/11/12 11:45

FACULTY FILES

Issam Hallak has over 12 years’ experience researching and teaching in the rapidly changing world of finance. “Banking regulations change so quickly that, as a banker or financier, it can be hard to understand what your next step should be. As soon as a new regulation comes into effect, you see loopholes. It may even create incentives for banks to add risk and so it needs changing again. When it comes to producing empirical research in the field, you need to allow time for effects to emerge. Then you can make a definitive statement about the regulation’s impact. It certainly makes for a dynamic research and working environment.”

Issam’s research interests lie in banking and lending, covering both sovereign and corporate debt markets. “Basically everything in banking is interrelated, whether it concerns managing the bank, setting up a loan contract, or financing corporations and states. As a consequence, my fields of research continue to develop and I’m currently setting up a number of new projects.”

Here at the School, Issam aims to contribute to the research in banking. “Vlerick has the advantage of networks, interaction and a strong connection with industry, be it the contact with professional students or the partnerships with companies. And there’s an emphasis on entrepreneurship and initiative, so you can play a pro-active role as a member of the Vlerick team. It’s good to be in a place where you can have input, a positive impact, and I’m confident this is the place.”

Issam HallakAssociate Professor of Finance

“ VLERICK HAS THE ADVANTAGE OF NETWORKS, INTERACTION AND A STRONG CONNECTION WITH INDUSTRY” Associate Professor of Finance

Education PhD in Economics, European University Institute, Florence; Masters in Finance, University Paris Dauphine; BA in Applied Mathematics and Social Sciences, University Paris Dauphine

Fields of expertise banking & fi nancial intermediation, corporate fi nance, international fi nance

Career so far Assistant Professor of Finance, Bocconi University (2004-2012); Post-Doctoral Researcher, CSEF, Salerno University (2004); Visiting Doctoral Researcher, CFS, Frankfurt University (2001-2003); Visiting Doctoral Researcher, Department of Economics, Oxford University (2000-2001)

PROGRAMMES

Programmes subject to change.Please check our website for updates.

D Programme in Dutch

E Programme in English

For more information:www.vlerick.com

AccOuntinG & FinAncE

Understanding annual reports (D)

Starts on 18/03/2013+ 32 9 210 97 [email protected]

Finance Management for non-financial managers (D)


Executive Master Class in Controllership (E)


EntREPREnEuRShiP

Entrepreneurship Day (D)

17/12/2012+ 32 9 210 98 [email protected]

KMO Challenge (D)


GEnERAl MAnAGEMEnt

Middle Management Programme (D)


Project Management (D)


huMAn RESOuRcE MAnAGEMEnt

Compensation and Benefits Management (D)


HRM with impact (D)


ict & BuSinESS PROcESS MAnAGEMEnt

ICT-Management (D)


Business Process Management Workshop (E)


Executive Master Class in Business Process Management (E)


innOvAtiOn MAnAGEMEnt

Corporate Innovation Management (E)


MARkEtinG & SAlES

Executive Master Class in Business-to-Business Marketing & Sales (E)


OPERAtiOnS & SuPPly chAin MAnAGEMEnt

Executive Master Class in Supply Chain Management (E)


Supply Chain Forum (E)


Purchasing Management (E)


PEOPlE MAnAGEMEnt & lEADERShiP

Executive Decision Making (D)


The people manager (D)

Starts on 21/03/2013 (Ghent)Starts on 28/03/2013 (Leuven)+ 32 9 210 97 [email protected]

Negotiating to create value (D)



DOSSIER

Hebt u die drive om het steeds weer beter te willen? Een passie voor kwaliteit, innovatie en talent?

Info, ledenlijst en inschrijven:

www.vck.be/vckconnect

VCKConnect is een voordelenpakket voor uw organisatie

waarmee het Vlaams Centrum voor Kwaliteitszorg managers

de gelegenheid biedt aan te sluiten bij een netwerk van

Business Excellence experts. Leer en ontdek op het

kwaliteitscongres en de leer- en netwerksessies. Ontmoet

andere manager rond uiteenlopende thema’s en wissel

praktijkervaring uit.

VCK-Adv-Vlerick-Connect-Eind-2012.indd 1 6/11/12 23:31

Wij hebben kennis van zaken, vooral de zaken uit uw buurt.

Start uw zaak op met onze lokale expert en de steun van het

Europees Investeringsfonds.

U start een zaak? Dat treft: dat doen wij ook. Elke dag opnieuw en in uw buurt. Onze lokale specialist Business Banking geeft u onderbouwd advies en biedt u begeleiding op maat. Bovendien vertelt hij u meer over het Europees Investeringsfonds.

De garantie van dat fonds kan ervoor zorgen dat u zelf minder waarborgen moet aanbrengen of dat u een korting op uw krediet geniet. Geïnteresseerd? Contacteer uw lokale specialist Business Banking of surf naar belfius.be/starters.

Deze financieringsaanvraag geniet een garantie verleend binnen het kaderprogramma voor concurrentievermogen en innovatie van de Europese Unie.

Belfius Bank NV, Pachecolaan 44, 1000 Brussel – IBAN BE23 0529 0064 6991 – BIC GKCCBEBB – RPR Brussel BTW BE 0403.201.185 – FSMA nr. 19649 A.

P-DXIA-8066 MMC Starters campagne 2012_297x210_NL_FR.indd 1 28/08/12 15:11

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