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BIOGRAPHICAL SKETCH Sharan Jagpal

E-mail address: jagpal@rutgers.edu

Background

Professor Sharan Jagpal is an internationally recognized scholar and management


consultant in a number of fields including marketing, finance, econometrics, and strategy.
He has had extensive experience in executive training and developing customized courses
for top-level executives in several countries including the United States, China, Canada,
Japan, Singapore, and India.

Professor Jagpal’s unique and multidisciplinary contributions to the theory and practice
of management have been recognized by Harry Markowitz, Nobel prizewinner in
economics and inventor of modern portfolio theory in finance; world-famous scholars at
such prestigious institutions as Harvard, Stanford, UCLA, the Wharton School, London
Business School, MIT, Northwestern, and Columbia; numerous business executives,
including CEOs of Fortune 500 companies; and the media. (For details, please see
below.)

Sharan Jagpal has served for several years as Chairperson of the Marketing Department
at Rutgers Business School where he is currently Professor of Marketing. He holds a
B.Sc. (Economics Honors) Degree from the London School of Economics and the
M.B.A., M. Phil., and Ph.D. degrees from Columbia University.

Consulting

Professor Jagpal is president of Strategic Management and Marketing Consultants, a


consulting company that focuses on developing customized, state-of-the-art empirical and
theoretical models for decision-making in the firm. These models span a number of
functional areas (e.g., economics, finance, and marketing) and empirical methodologies
(e.g., statistics, econometrics, and psychometrics).

The company’s clients include several Fortune 500 companies.

Research

Professor Jagpal’s research focuses on developing an integrated theory of the


multiproduct firm under uncertainty. Towards this end, he has developed a number of
first-of-a-kind theoretical models spanning a number of disciplines including marketing,
finance, economics, human resource management, psychology, and other fields. He has
also developed a number of first-of-a-kind empirical methodologies spanning a number
of disciplines including statistics, econometrics, psychometrics, and management science.
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Professor Jagpal’s theoretical research areas include developing marketing models for
the multiproduct firm under uncertainty, the marketing-finance interface (a field that he
has pioneered), marketing strategy, measuring advertising effectiveness, designing sales
force compensation plans, measuring performance in the multiproduct firm, new product
models, consumer behavior, forecasting, channels of distribution, strategic alliances,
mergers and acquisitions, Internet marketing, and pharmaceutical marketing. His current
theoretical projects include: optimizing price and product design in a multiperiod world,
optimal pricing when new products are sequentially introduced, and real options theory.

Professor Jagpal’s methodological research focuses on developing new empirical


methods for the multiproduct firm under uncertainty. In particular, he focuses on
developing new empirical methods that can be implemented by the firm using routinely
available data or data that the firm can easily collect.

Recently, Professor Jagpal has developed new methods for pricing product bundles,
measuring unobservable consumer decision processes, market segmentation, and new
product design when sales data are unobservable. His current methodological projects
include developing new methodology for pricing auctions on the Internet, performing
multiproduct segmentation in the pharmaceutical and Internet industries, and addressing
the vexing problem of structural zeros in statistical models.

Professor Jagpal has published many papers in prestigious journals in marketing and
other fields including economics, finance, statistics, and psychometrics. These journals
include Marketing Science, Journal of Marketing Research, Journal of Advertising
Research, International Economic Review, Journal of Business, and the Journal of
Classification.

Professor Jagpal is the sole author of an interdisciplinary book, Marketing Strategy and
Uncertainty, Oxford University Press, 1999. This book has been acclaimed by
internationally known academics in different fields including marketing, economics,
corporate strategy, statistics, management science, psychometrics, econometrics,
management, and finance. In addition, senior business executives and the media have
recognized the practical value of the book for strategic decision-making.

Recently, Professor Jagpal wrote another sole-authored book, Fusion for Profit: How
Marketing and Finance Can Work Together to Create Value (Oxford University Press,
August 2008). The contribution of this work has already been recognized by well-known
academics in different fields including marketing, economics, and finance; in addition,
the managerial contribution of this work has been acclaimed by prominent business
executives.

Professor Jagpal is presently working on two new sole-authored books addressing


fundamental but neglected issues in marketing and business strategy in general.
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Following are some evaluations of Professor Jagpal’s latest book, Fusion for Profit.

Anonymous reviewer, Oxford University Press:

“The proposed book [now published as Fusion for Profit] would fill an important gap in
the management literature, because it will address important issues related to the interface
between two key functions: marketing and finance. Unfortunately, because researchers
and academics tend to specialize either in marketing or finance, very few people can
address these topics at the desired competence level… As far as I know, there is no other
book presently on the market that covers the interface between marketing and finance…
I am very confident that it [Fusion for Profit] will be soon considered as the pioneering
book in this field.”

Dinyar S. Devitre, Senior Vice President and Chief Financial Officer, Altria Group
Inc. [Altria is a global Fortune 500 company ranked just next to Intel. In 2007,
Altria had an annual revenue of $38 billion and an annual profit of $9.8 billion]:

"Fusion for Profit is a one-of-a-kind exposition of how the fusion of marketing skill and
financial discipline can drive shareholder value. Sharan Jagpal has written a highly
readable book that is buttressed with fascinating examples and easy to understand
“Maxims”. This superb book is a must read for anyone interested in building
businesses."

John A. Greco, Jr., president and CEO, Direct Marketing Association [Direct
Marketing Association is the leading global trade association of business and
nonprofit organizations using and supporting direct marketing tools and
techniques. Most Fortune 100 companies are members of Direct Marketing
Association]:

"Bringing marketing and finance together is a massive endeavor, making this book
unique in its scope and the breadth of the topics it covers...In Fusion for Profit, Professor
Jagpal brilliantly combines these seemingly disparate fields and proposes novel new
theories and methods, many of them quite sophisticated. Even so, his ideas and messages
are accessible to a wide audience because, in addition to presenting his complex ideas as
simply as possible, he’s done it without using any math or algebra!"

Donald G. Morrison, William E. Leonhard Professor, UCLA, founding editor of


Marketing Science (the premiere journal in marketing) and former Editor-in-Chief
of Management Science (a top-tier multidisciplinary journal):

“Sharan Jagpal’s Fusion for Profit breaks new ground in integrating marketing with the
other functional areas of business—especially finance. Using a Q&A format Professor
Jagpal takes the reader on an easily accessible journey that yields new insights. Among
other “ah ha” moments one will see the financial input to the key marketing metrics as
well as understand why some advertising is directed not at Main Street, but rather to Wall
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Street. This is a rare book that will be used by practitioners, doctoral students and those in
between.”

Enrique R. Arzac, Professor of Finance and Economics, Graduate School of


Business, Columbia University:

“A required reading for practitioners and everybody who deals with marketing strategy.
This book [Fusion for Profit]…fills an important gap in the literature.”

Richard P. Bagozzi, Professor of Marketing; Professor of Social and Administrative


Sciences, Chair of Pharmacy, and Chair of Marketing, University of Michigan:

“This book [Fusion for Profit] is one of the most original and thorough discourses I have
seen on how business ideas from multiple functional areas can be integrated. It is lucidly
written and provides many, many insights for managers, as well as more academically
oriented readers in search of grounding. A remarkable contribution to the literature that
not only makes one think deeper and broader about business but provides concrete ways
to effectively approach and model the pressing business issues of the day.”

Kamel Jedidi, John A. Howard Chair of Marketing and Chairperson, Marketing


Division, Columbia Business School:

“This seminal book [Fusion for Profit] has created an urgently needed new paradigm for
business theory and practice. Jagpal has developed novel theories and practical methods
for solving critical but neglected business problems. Given the book's conversational
style, it is a must-read for multiple audiences ranging from CEOs to academics in
multiple fields. I especially like Jagpal's practical approach based on simple but powerful
examples...The theories and metrics for linking marketing actions to shareholder
value are a much needed direction for the entire marketing profession.”

David G. Luenberger, Professor and cofounder, Department of Engineering and


Economic Systems, Stanford University:

“This excellent book [Fusion for Profit] is comprehensive, accessible, practical, and
consistent with modern theory. It represents a fusion between marketing and finance, but
also its approach is a fusion of qualitative and quantitative methods. Virtually every
concept presented is illustrated with simple but penetrating examples and derived from
straightforward logical methods. The breadth of business topics considered is enormous,
including for example, quantitatively developed marketing strategies, compensation
policies, and acquisition plans. The methods of analysis are related to sound economic
and finance principles expressed with just enough detail to be incisive yet easily
understood.”

Following are some additional evaluations of Professor Jagpal’s contributions to academe


and to business practice.
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Economics and Finance

Harry M. Markowitz, Nobel Prizewinner in economics and inventor of modern


portfolio theory (from the Foreword to Jagpal’s book, Marketing Strategy and
Uncertainty):

“Professor Jagpal’s pioneering book [Marketing Strategy and Uncertainty] moves us


forward towards a detailed, integrated theory of the firm.”

Marketing

Donald G. Morrison, William E. Leonhard Professor, UCLA, founding editor of


Marketing Science (the premiere journal in marketing) and former Editor-in-Chief
of Management Science (a top-tier multidisciplinary journal):

“The author [Jagpal] has done an excellent job of integrating the relevant economic and
finance theories into an overall theory of marketing…[Marketing Strategy and
Uncertainty is] A major contribution.”

Naufel Vilcassim, Professor and Associate Dean, London Business School:

“This book [Marketing Strategy and Uncertainty] provides an interesting perspective by


integrating economic and finance theories in the analysis of strategic marketing issues…
There is no book currently available that adopts the approach taken by the author.”

Emine Sarigollu, Associate Dean, McGill University, from a book review in the
Journal of Marketing Research (February 2000):

“This pioneering book [Marketing Strategy and Uncertainty] is the first to develop a
modern theory of marketing under uncertainty.”

Consumer Behavior and Psychology

Richard P. Bagozzi, J. Hugh Liedtke Professor of Management and Professor of


Psychology, Rice University:

“Dr. Jagpal has crafted a splendid book [Marketing Strategy and Uncertainty]…It
presents management at its best, bursting with ideas and policies for practice, yet
grounded in scientific principles….A remarkable piece of scholarship.”

Marketing and Corporate Strategy

Kamel Jedidi, John A. Howard Chair of Marketing and Chairman of Marketing


Division, Columbia Business School, from his book review in the Journal of
Classification (1999):
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“This pioneering and unconventional book [Marketing Strategy and Uncertainty]


develops analytical solutions and empirical methods to deal with fundamental but
neglected problems in marketing strategy.”

Das Narayandas, James J. Hill Professor of Business Administration and


Chairperson of the Business Marketing Strategy Program, Harvard Business
School:

“This pioneering book [Marketing Strategy and Uncertainty] integrates several fields
including marketing, finance, and economics.”

Arvind Rangaswamy, Jonas H. Anchel Professor of Business Administration and


Director of the eBusiness Research Center, Pennsylvania State University:

“This book [Marketing Strategy and Uncertainty] is a major contribution that brings
systematic thinking to …the strategy area.”

Professor Sundar Balakrishnan, University of Washington, from his book review in


the Journal of Macromarketing (June 2000):

“This book [Marketing Strategy and Uncertainty] is unique in content and style. Clearly,
this book is a major substantive and methodological contribution to the corporate strategy
literature. It also goes a long way toward assisting in the development of an overall
theory of marketing and opens up new theoretical and empirical research opportunities.”

Management Science/Operations Research

Professor David G. Luenberger, Stanford University, Department of Management


Science and co-founder of the Department of Engineering Economic Systems and
Operations Research (EESOR):

“I consider the book [Marketing Strategy and Uncertainty] to be excellent. It is different,


clear, and right on the mark in terms of substance. Jagpal is obviously a clear thinker
who is able to treat theoretical material from an experienced perspective; he presents
complex material from an experienced perspective and you get the impression that he has
tremendous depth behind what he puts on the page. A truly fine book.”

Statistics and Psychometrics

Professor Bengt Muthen, former president of the Psychometric Society:

“I’d like to congratulate you on your recent nice article in Marketing Science on finite
mixture SEM [structural equations models]…”
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David Larcker, Ernst & Young Professor of Accounting, Wharton Business School:

“I read with considerable interest your paper in Marketing Science on finite-mixture


structural equation models. This is a nice paper that should have considerable impact on
a variety of research disciplines…”

Managerial Practice

John A. Greco Jr., CEO and president, Direct Marketing Association:

“This book [Marketing Strategy and Uncertainty] is the most organized and
comprehensive treatment of the subject matter I have seen. It is essential that marketing
professionals and students have the opportunity to deal with the realistic business analysis
processes treated by Dr. Jagpal. I was particularly impressed with how Dr. Jagpal
successfully separated with surgical precision, the theory from the mathematical
support.”

Daniel D. Lynn, CEO, DigitalGrit Inc.:

“This book [Marketing Strategy and Uncertainty] challenges the executive to be


analytical and to make the right decisions for the right reasons…The book will be a
critical addition to my business library at home and at work. Any manager who wants to
make smart, fact-based decisions will feel the same.”

The Economic Times:

“The author develops solutions that can be implemented, and not solutions that wish
away realities. The book [Marketing Strategy and Uncertainty] will be a valuable read
for academicians, researchers, consultants, students of marketing, and practicing
executives. It will also be useful for students and researchers in organization strategy as
it follows a functionally integrative approach.”

Emine Sarigollu, Associate Dean, McGill University, from her book review in the
Journal of Marketing Research (2000):

“Because of the book’s unique format and lucid style, the author’s novel ideas [in
Marketing Strategy and Uncertainty] are accessible to multiple audiences ranging from
senior executives to state-of-the-art researchers in several disciplines.”

Kamel Jedidi, John A. Howard Chair of Marketing and Head of the Marketing
Division at Columbia Business School, from his book review in the Journal of
Classification (1999):
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“Every serious academic and executive who is interested in strategy should read this
pathbreaking book [Marketing Strategy and Uncertainty] and reread it as a source book.”

Professor Jagpal’s book, Marketing Strategy and Uncertainty, is being used in advanced
graduate courses at top schools in the United States (e.g., Wharton and Harvard), Europe
(e.g., London Business School), and Asia (e.g., the National University of Singapore and
the Indian Institute of Management, Calcutta.) The book is also being used to teach
courses in other departments outside the business school. For example, it is being used to
teach an elective course in Applied Mathematics at the Mathematics Department,
Northwestern University.

Teaching

Professor Jagpal has won several Teaching Excellence awards at Rutgers Business
School.

During his academic career, Professor Jagpal has taught 30 different graduate courses in
marketing and in other disciplines including economics, statistics, psychometrics,
multivariate statistics, and management science. The marketing courses he has taught
include marketing management, marketing strategy, new product development,
advertising, consumer behavior, Internet marketing, international marketing, advanced
marketing theory, marketing research, and marketing models.

Professor Jagpal has developed and taught a number of customized courses in marketing,
strategy, and planning for high-level executives in different countries including the
United States, Canada, Japan, India, and China.

Professor Jagpal has taught in other disciplines outside marketing. Specifically, he has
taught advanced courses in strategic planning, microeconomics, corporate strategy,
business policy, statistics, multivariate statistics, econometrics, and management science.

Professor Jagpal teaches in the MBA, Executive MBA, International Executive MBA
(Beijing, Shanghai, and Singapore), and Ph.D. programs at Rutgers. He has also taught at
many other universities in the United States and abroad including Columbia (MBA and
Executive MBA Programs), McGill, Concordia University, the University of
Massachusetts, the University of California (Riverside and Davis), and the International
University of Japan.

Professor Jagpal has been an invited speaker at many universities in the US (e.g., MIT,
Columbia, and UCLA) and abroad (e.g., McGill, the National University of Singapore,
and the Indian Institute of Technology, the premiere engineering institution in India). In
addition, he regularly gives invited talks to professional organizations and industry
groups in the United States and abroad (e.g., China and India).
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Professional Service

Professor Jagpal is on several Editorial Boards (Journal of Product and Brand


Management, International Journal of Pharmaceutical and Healthcare Marketing , Journal
of Leadership in Global Enterprise, Journal of Indian Business Research) and regularly
reviews papers for major journals in marketing (e.g., Marketing Science and the Journal
of Marketing Research) and in other fields. He also regularly reviews manuscripts for
publishers including Stanford University Press, Princeton University Press, Oxford
University Press, Cambridge University Press, and Prentice Hall.

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