LEE KONG CHIAN SCHOOL OF BUSINESS Year 2007/2008 Term 1. To be advised COURSE DESCRIPTION

Transcription

1 LEE KONG CHIAN SCHOOL OF BUSINESS Year 2007/2008 Term 1 MKTG101 Instructor: Tel: Office: MARKETING Dr Raymond Teo To be advised To be advised xxx COURSE DESCRIPTION The objectives of this course are to introduce you to the substantive and procedural aspects of marketing management, and to sharpen your skills for critical analytical thinking and effective communication. Specifically, the goals are: 1. To introduce you to marketing strategy and the elements of marketing analysis (customer analysis, competitor analysis, and company analysis) so that you can understand the marketing and business environment in which the firm is operating and determine it's major opportunities and problems; 2. To familiarize you with elements of the marketing mix (product strategy, pricing, advertising, promotion, distribution), and to enhance your problem solving and decision making abilities in these operational areas of marketing. You should be able to develop a creative set of alternative marketing strategies and convert a chosen strategic alternative into an implementable course of action; 3. To present examples of the ways in which firms organize their marketing efforts and integrate the various elements of their marketing programs. COURSE OBJECTIVES The course has five key objectives and they are: To provide students with the tools to create and deliver value to customers To help students recognise that there is risk in making marketing decision and consequently introduce students to the use of customer insights to reduce this risk To provide students with the tools to scan the environment and have them recognise the implications of the environmental trends and events on organisations To embed in students the view that marketing should be implemented holistically as successful companies have not only great products and services but also excellent organisational practices to ensure their continued growth To provide students with a good understanding of the key differences between product and service marketing and the tools available to service marketers 1

2 RECOMMENDED TEXT Philip Kotler and Gary Armstrong, Principles of Marketing, 11 th Edition, Prentice Hall: Englewood Cliffs, NJ. Additional assigned readings and cases. (Please refer to class schedule) Students are expected to read widely to keep abreast of the current developments in the region. The Straits Times, Business Times, The Economist etc are some useful dailies/weeklies that should be read. In addition, students should also read marketingrelated articles in non technical journals such as the Harvard Business Review and the Sloan Management Review. ASSESSMENT METHODS AND WEIGHTAGES There are three assessment components for this module and they include: Class Participation 17% (individual) Midterm Assessment 30% (individual) Group Marketing Project I (GMP I) 20% (group) Group Marketing Project II (GMP II) 20% (group) Team Contribution to GMP (Peer evaluation) 10% (individual) Research Participation 3% (individual) DESCRIPTION OF ASSESSMENT COMPONENTS Class Participation/ Team Contribution Students are expected to participate actively in class, as through this, collaborative learning takes place. By active participation, students should listen attentively to the views of their peers and to speak up in defence of their position when called for. Participation is not only about being engaged in class discussions but also include contributing effectively to his/her team in the group marketing project. On the latter, peer evaluation is used. Students will be asked to provide a ranking of each team member based on the value of the member s contribution to the team. Group Marketing Project I The group marketing project is intended to give students an opportunity to apply what they have learnt to the real world. Through this project, students will apply the environmental scanning tools learned and seek opportunities to create and deliver value to potential customers in a targeted way. The focus of this project is not on the development of a comprehensive marketing strategy but on sieving out opportunities and articulating why it is worth pursuing and how value can be delivered to potential customers. Consequently, the report is limited to 2000 words. 2

3 Group Marketing Project II This project differs from the first in that the focus is on a specific company assigned by the instructor. Students are required to read up on the macro and micro environment of the company and make clear recommendations on broad marketing strategies that the company can adopt. Again, the report is limited to a 2000 word length. As this project focuses on a particular company, reports deemed sound by the instructor will be sent to the company for their review. Marks will be awarded based on the quality of analysis and recommendations that are expected to be grounded on sound marketing principles. In addition to the report, each group is given fifteen minutes to make a presentation to the class. The aim of the presentation is to allow students to fully clarify their positions taken and to allow for cross-examination. In addition to a total weightage of 40% given to this component, students should note that active and valuable contribution to the team can gain for themselves additional marks of up to 10% (see team contribution). Students are required to submit their reports by the due date. It is expected that students take precautions by backing up their files regularly to avoid unforeseen mishaps that may happen. Mid Term Assessment This assessment will take the form of a two-hour written paper. The paper will have two parts, with the first part consisting of multiple choice questions and the second part consisting of essay type questions. Students should expect to be examined on higher thought processes arising from concepts learnt in the assessment. Students who read the assigned materials, attend class sessions and participate actively in discussions can expect to do well in the examination. Research Participation The purpose of the research participation requirement is to supplement the material on marketing research methodology by giving you direct exposure to academic research in marketing. This requirement earns you up to 3% of your final grade and may be fulfilled through one of the following two ways: 1. Participation in research studies - 1% for each study, subject to a maximum of 3% To participate in a research study, go to the Subject Pool System website at HYPERLINK You will be able to view a list of studies available and the times that they will be conducted. Select a study that interests you and a time that suits you. Please note that after you have signed up for a study, it is important for you to keep the appointment. If you miss an appointment, you will not be permitted to sign up a second time for the same study. If you anticipate not being able to make an appointment, you should return to the website to delete your appointment. If you have any questions or concerns about some specific study, logistical detail, please ask them of the Subject Pool Co-ordinator, Professor S Ramaswami (rama@smu.edu.sg) You should try to register for studies as and 3

4 when they are announced throughout the term, but do not despair if you do not get a chance to participate at the times at which you wish to. There will be plenty of opportunities for everyone throughout the term. You are practically guaranteed to have enough studies to complete this requirement by the end of the term. 2. Analysis of articles detailing research studies - 1% for each article analysed, subject to a maximum of 3% To analyze an article, go to the library and locate one of the following journals: The Journal of Consumer Research, The Journal of Marketing, The Journal of Marketing Research, Marketing Science, or Journal of Retailing. Look through the articles until you find one that interests you, and write a summary of the article. Your summary should include a discussion of the objectives and hypotheses of the research, the key results, and the implications of the results for marketers. The summary of the article will be graded on a pass/fail basis. 4

5 CLASS SCHEDULE Session No. Topic To Be Addressed Readings 1 The role of marketing in organisations Essential Reading Chapters 1, 2 Additional Reading Article: Levitt, T (1960), Marketing Myopia Harvard Business Review, (July August), pp Dell 2 Assessing the marketing environment (Guidelines on Group Marketing Project I) Essential Reading Chapter 3 Cisco 3 Consumer behaviour and implications for the marketing mix Essential Reading Chapters 5, 6 Class Seminar by Instructor Advances in using insights to understand consumer evaluation 4 Target marketing: Segmentation, targeting and positioning Essential Reading Chapter 7 Video Marriott 5 Product management and branding Essential Reading Chapter 8 (excluding section on Services) and section on Product Life Cycle in Chapter 9 Toyota 6 Developing new products and services Essential Reading Chapter 9 Additional Reading IDEO 5

6 7 Mid Term Assessment 8 Presentation of Group Marketing Project I (Guidelines on Group Marketing Project II) 9 Marketing of services Essential Reading Chapter 8 Singapore Airlines 10 Integrated marketing communications Essential Reading Chapter 14 Video Marketing Successes of Coca Cola 11 Distribution of products Essential Reading Chapters 12 and Using actionable consumer insights to aid marketing decision making; Organisational issues in marketing Class Seminar by Instructor Advances in the use of customer insights for marketing decision making to reduce risk 13 Presenting of Group Marketing Project II 6