Prof Lakshman Krishnamurthi
Lakshman Krishnamurthi

MARKETING
A. Montgomery Ward Professor of Marketing

Print Overview

Lakshman Krishnamurthi is the A. Montgomery Ward Distinguished Professor of Marketing. He has been a faculty at Kellogg from 1980 -88, and from 1990 to the present. He has degrees in engineering from IIT, Madras, an MBA from LSU, and an MS in statistics as well as a Ph.D. in marketing from Stanford University. He served as the chairman of the marketing department from 1993-2004.

At Kellogg, Professor Krishnamurthi teaches Marketing Strategy & Pricing in a variety of programs. Professor Krishnamurthi serves as the Academic Director of the executive program on Pricing Strategies & Tactics, a position he has held since 1995. In addition, he teaches a multivariate statistics course in the Ph.D. program. He was voted “teacher of the year” for core courses in the Kellogg Executive MBA Program (EMP 63), 2006, voted “teacher of the year” by the second graduating class of the joint Kellogg-HKUST Executive Master’s program in 2000, and was a finalist for the award in 2002. He received the Sidney Levy award for teaching excellence in the MBA program at Kellogg in 1999, 2001, 2003, 2007 and 2011, and has been awarded several other teaching commendations.

Professor Krishnamurthi has also won many awards for his research publications including the Paul Green award and the Donald Lehmann award for best paper in the Journal of Marketing Research; the John D.C. Little award for best paper in Marketing Science; and was a finalist for the William O'Dell Award from the American Marketing Association. He serves on the editorial board of Marketing Science and the Journal of Marketing Research. He is a member of the Institute of Management Sciences and the American Marketing Association.

In addition to his teaching and research activity, Professor Krishnamurthi has consulted for Medtronic, Motion Computing, Intersil, Harcourt Publishing, Accelrys, ZS Associates, Chicago Tribune, and several others. He has also conducted executive education seminars for Siemens Health Care Diagnostics, DuPont, Microsoft, Abbott, ExxonMobil, Johnson & Johnson (Ethicon, Ethicon Endo, Ortho Clinical Diagnostics, ASP), ThyssenKrupp Elevators, British Petroleum, Ford Motors, Merck KgaA, Novartis, Wolters Kluwer, Honeywell, Seminarium (Latin America), Peninsula Hotels, Chicago Tribune, Motorola, and others

Professor Krishnamurthi is the co-author of a book on pricing titled Principles of Pricing: An Analytical Approach with Professor Rakesh Vohra, published by Cambridge University Press. He is working on another book titled China and India: An Asian Century (with Sugandha Khandelwal and Yuxin Chen) comparing marketing practices in key industry segments in China and India.



Areas of Expertise
Brand Management
Business to Business Markets
International Marketing
Marketing Management
Marketing Research
Marketing Strategy/Planning/Policy
New Product Development
Print Vita
Education
PhD, 1981, Marketing, Stanford University
MS, 1980, Statistics, Stanford University
MBA, 1977, Louisiana State University
BS, 1975, Electronics Engineering, Indian Institute of Technology, Madras

Academic Positions
A. Montogmery Ward Professor of Marketing, Kellogg School of Management, Northwestern University, 1992-present
Chairman of Marketing Department, Kellogg School of Management, Northwestern University, 1993-2004
Associate Professor of Marketing, Kellogg School of Management, Northwestern University, 1990-1992
Associate Professor of Marketing, University of Illinois Chicago, 1989-1990
Visiting Associate Professor of Marketing, University of Illinois Chicago, 1988-1989
Associate Professor of Marketing, Kellogg School of Management, Northwestern University, 1987-1988
Assistant Professor of Marketing, Kellogg School of Management, Northwestern University, 1980-1987

Grants and Awards
Sidney J. Levy Teaching Award, Kellogg School of Management, 2010-2011, 2006-2007, 2003-2004, 2000-2001, 1998-1999

Editorial Positions
Editorial Board, Journal of Marketing Research, 2003-present
Editorial Board, Marketing Science, 1999-present

 
Print Research
Research Interests
Impact of price and advertising on consumer purchase decisions, new product strategy, competitive strategy, application of conjoint analysis

Articles
Gonca, Soysal and Lakshman Krishnamurthi. 2012. Demand Dynamics in the Seasonal Goods Industry: An Empirical Analysis. Marketing Science. 31(2): 293-316.
Nijs, Vincent, Kanishka Misra, Eric T. Anderson, Karsten Hansen and Lakshman Krishnamurthi. 2010. Channel Pass-Through of Trade Promotions. Marketing Science. 29(2): 250-67.
Hahn, Minhi, Lakshman Krishnamurthi, Hyunmo Kang, Jin-Sok Hyun, Sang-June Park and Yong J. Hyun. 2008. A New Test of Attribute Significance for Nonparametric Conjoint Models. Korean Journal of Marketing.
Zhang, Jie and Lakshman Krishnamurthi. 2004. Customizing Promotions in Online Stores. Marketing Science. 23(4): 561-578.
Krishnamurthi, Lakshman and Purushottam Papatla. 2003. Accounting for Heterogeneity and Dynamics in the Loyalty: Price Sensitivity Relationship. Journal of Retailing. 79(2): 121-135.
Shankar, Venkatesh, Gregory Carpenter and Lakshman Krishnamurthi. 1999. The Advantages of Entry in the Growth Stage of the Product Life Cycle: An Empirical Analysis. Journal of Marketing Research. 36(2): 269-276.
Park, Sehoon, Dipak C. Jain and Lakshman Krishnamurthi. 1998. A Hierarchical Elimination Modeling Approach for Market Structure Analysis. European Journal of Operational Research. 111(2): 328-350.
Shankar, Venkatesh, Gregory Carpenter and Lakshman Krishnamurthi. 1998. Late Mover Advantage: How Innovative Late Entrants Outsell Pioneers. Journal of Marketing Research. 35(1): 54-70.
Briesch, Richard A., Lakshman Krishnamurthi, Tridib Mazumdar and S.P. Raj. 1997. A Comparative Analysis of Reference Price Models. Journal of Consumer Research. 24(2): 202-214.
Shankar, Venkatesh and Lakshman Krishnamurthi. 1996. Relating Price Sensitivity to Retailer Promotional Variables and Pricing Policy: An Empirical Analysis. Journal of Retailing. 72(3): 249-272.
Papatla, Purushottam and Lakshman Krishnamurthi. 1996. Measuring the Dynamic Effects of Promotion on Brand Choice. Journal of Marketing Research. 33(1): 20-35.
Krishnamurthi, Lakshman, S.P. Raj and K. Sivakumar. 1995. Unique Inter-Brand Effects of Price on Brand Choice. Journal of Business Research. 34(1): 47-56.
Rangaswamy, Arvind and Lakshman Krishnamurthi. 1995. Equity Estimation and Assessing Market Response: A Rejoinder. Journal of Marketing Research. 32(4): 480-485.
Rangaswamy, Arvind and Lakshman Krishnamurthi. 1994. The Statistical Properties of the Equity Estimator: Reply to Rejoinder. Journal of Business & Economic Statistics. 12(2): 155.
Rangaswamy, Arvind and Lakshman Krishnamurthi. 1994. The Statistical Properties of the Equity Estimator: A Reply. Journal of Business & Economic Statistics. 12(2): 149-153.
Hahn, Minhi, Sehoon Park, Lakshman Krishnamurthi and Andris Zoltners. 1994. Analysis of New Product Diffusion Using a Four-Segment Trial-Repeat Model. Marketing Science. 13(3): 224-247.
Papatla, Purushottam and Lakshman Krishnamurthi. 1992. A Probit Model of Choice Dynamics. Marketing Science. 11(2): 189-206.
Krishnamurthi, Lakshman, Tridib Mazumdar and S.P. Raj. 1992. Asymmetric Response to Price in Consumer Brand Choice and Purchase Quantity Decisions. Journal of Consumer Research. 19(3): 387-400.
Krishnamurthi, Lakshman and Dick R. Wittink. 1991. The Value of Idiosyncratic Functional Forms in Conjoint Analysis. International Journal of Research in Marketing. 8(4): 301-313.
Krishnamurthi, Lakshman and S.P. Raj. 1991. An Empirical Analysis of the Relationship Between Brand Loyalty and Consumer Price Elasticity. Marketing Science. 10(2): 172-183.
Rangaswamy, Arvind and Lakshman Krishnamurthi. 1991. Response Function Estimation Using the Equity Estimator. Journal of Marketing Research. 28(1): 72-83.
Wittink, Dick R., Lakshman Krishnamurthi and David Reibstein. 1990. The Effect of Differences in the Number of Attribute Levels in Conjoint Results. Marketing Letters. 1(2): 113-123.
Krishnamurthi, Lakshman, Jack Narayan and S.P. Raj. 1989. Intervention Analysis Using Control Series and Exogenous Variables in a Transfer Function Model: A Case Study. International Journal of Forecasting. 5(1): 21-27.
Krishnamurthi, Lakshman and S.P. Raj. 1988. A Model of Brand Choice and Purchase Quantity Price Sensitivities. Marketing Science. 7(1): 1-21.
Krishnamurthi, Lakshman. 1988. Conjoint Models of Family Decision Making. International Journal of Research in Marketing. 5(3): 185-198.
Krishnamurthi, Lakshman and Arvind Rangaswamy. 1987. The Equity Estimator for Marketing Research. Marketing Science. 6(4): 336-357.
Krishnamurthi, Lakshman, Jack Narayan and S.P. Raj. 1986. Intervention Analysis of a Field Experiment to Assess the Buildup Effect of Advertising. Journal of Marketing Research. 23(4): 337-345.
Krishnamurthi, Lakshman and S.P. Raj. 1985. The Effect of Advertising on Consumer Price Sensitivity. Journal of Marketing Research. 22(2): 119-129.
Krishnamurthi, Lakshman. 1983. The Salience of Relevant Others and Its Effect on Individual and Joint Preferences: An Experimental Investigation. Journal of Consumer Research. 10(1): 62-72.
Wittink, Dick R., Lakshman Krishnamurthi and Julia B. Nutter. 1982. Comparing Derived Importance Weights Across Attributes. Journal of Consumer Research. 8(4): 471-473.
Book Chapters
Krishnamurthi, Lakshman. 2012. "Evaluation of Simulation Research ." In Volume 2: Analytical Marketing, edited by Robert Blattberg, Legends in Marketing, Philip Kotler, Sage Publications.
Krishnamurthi, Lakshman. 2010. "Pricing for Profit." In Kellogg on Marketing, 2nd ed., edited by Alice Tybout and Bobby Calder, 182-208. New York, NY: John Wiley & Sons, Inc.
Krishnamurthi, Lakshman and Shyam Gopinath. 2010. "The New Influence of Social Media." In Kellogg on Marketing, 2nd ed., edited by Alice Tybout and Bobby Calder, 307-318. New York, NY: John Wiley & Sons, Inc.
Shaffer, Jonathan, Lakshman Krishnamurthi and Ying Xie. 2004. "Direct-to-Consumer Advertising for MIS Arthroplasty." In Minimally Invasive Total Joint Arthroplasty, edited by Hozack, W.J., Krismer, M., Nogler, M., Bonutti, P.M., Rachbauer, F., Schaffer, J.L. and Donnelly, W.J., 309-317. Heidelberg: Springer Medizin Verlag.
Krishnamurthi, Lakshman. 2000. "Pricing Strategies and Tactics." In Kellogg on Marketing, edited by Dawn Iacobucci, 270-301. New York, NY: John Wiley & Sons.
Krishnamurthi, Lakshman and S.P. Raj. 1983. "Interactive Effects of Advertising and Price: Discussion and Methodology." In Advances and Practices of Marketing Science, edited by Fred Zufryden, Operations Research Society of America.
Wittink, Dick R. and Lakshman Krishnamurthi. 1981. "Rank Order Preferences and the Part-Worth Model: Implications for Derived Attribute Importance and Choice Predictions." In Proceedings: The Third ORSA/TIMS Special Interest Conference on Market Measurement and Analysis, edited by John Keon, Operations Research Society of America.
Wallendorf, Melanie, Gerald Zaltman and Lakshman Krishnamurthi. 1979. "Consumer Information Processing." edited by Gerald Zaltman and Melanie Wallendorf, Wiley & Sons.
Other
Krishnamurthi, Lakshman and Sugandha Khandelwal. "Agriculture Journal: What Needs to Be Done." Wall Street Journal, September 22, 2011.
Krishnamurthi, Lakshman and Sugandha Khandelwal. "Agriculture Journal: The Consequences of Inefficiency." Wall Street Journal, September 21, 2011.
Krishnamurthi, Lakshman and Sugandha Khandelwal. "Agriculture Journal: China Versus India by the Numbers." Wall Street Journal, September 20, 2011.
Krishnamurthi, Lakshman and Sugandha Khandelwal. "India Journal: Why India’s Demographic Dividend Will Lag China’s." Wall Street Journal, April 8, 2011.
Krishnamurthi, Lakshman and Venkatesh Shankar. "What are the options for later entrants?." Financial Times.
Krishnamurthi, Lakshman. "Pricing: Part Art, Part Science." Financial Times.
Megginson, Leon C. and Lakshman Krishnamurthi. "Teacher's Manual for Personnel and Human Resources Administration.".
Books
Vohra, Rakesh and Lakshman Krishnamurthi. 2012. Principles of Pricing: An Analytical Approach. Cambridge, UK: Cambridge University Press.

 
Print Teaching
Teaching Interests
Marketing strategy, marketing research, multivariate statistics
Full-Time / Part-Time MBA
Marketing Strategy (MKTG-466-0)

This course counts toward the following majors: Marketing, Marketing Management

This course presents an integrative, dynamic view of competitive brand strategy. It focuses on understanding, developing and evaluating brand strategies over the life of a product market. A framework for developing marketing strategies that yield a distinctive competitive advantage based on customer and competitor analysis will be presented and applied in various situations throughout the course. Topics include strategies for pioneering brands, strategies for late entry, growth strategies, strategies for mature and declining markets, and defensive marketing strategies. Material is presented using a mix of cases, lectures and a computer simulation game called MARKSTRAT.

Doctoral
Marketing Models: Statistical Modeling (MKTG-552-0)
This is a doctoral course on statistical models suitable for Kellogg PhD students as well as PhD students from related fields such as statistics, economics, and engineering. The course is taught in the spring and topics alternate from year to year. Currently, in odd years the course is on Bayesian methods and computation and covers simple parametric models, regression models, hierarchical models, mixture models, optimization algorithms, Monte Carlo simulation algorithms, model checking, nonparametric models, and hidden Markov models while in even years the course is on applied and computational statistics and covers statistical graphics and exploratory data analysis, permutation tests, null tests, the bootstrap, smoothing, cross-validation, tree-based and linear regression, model selection, bagging, principal components analysis, and cluster analysis. Marketing applications include but are not limited to conjoint analysis, choice models, data minimization, perceptual maps, etc.

Executive MBA
Marketing Management (MKTGX-430-0)
Marketing Management addresses the importance of companies being market-driven and customer-focused and presents current theories and practices of marketing management.

Marketing Strategy (MKTGX-466-0)
The goal of this course is to enhance your knowledge of marketing strategy. Specifically, this course aims to introduce the key elements of marketing strategy, provide a sound framework for problem analysis and action planning, and sharpen your leadership, analytical, and communication skills.