MARKETING STRATEGY. Fall 2013 COURSE DESCRIPTION COURSE OBJECTIVES

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1 MARKETING STRATEGY Fall 2013 COURSE NUMBER: BUS 771 (001) CLASSROOM: Sage Hall 2215 CLASS SCHEDULE: Wednesday, 6:00pm 9:10pm INSTRUCTOR: Dr. Melissa G. Bublitz OFFICE: Sage Hall 1453 PHONE: (920) E MAIL: bublitzm@uwosh.edu OFFICE HOURS: Tue/Thu 1:30pm 2:30pm, Wed 4:30 5:30 (or by appointment) COURSE DESCRIPTION Marketing Strategy is designed to be a capstone marketing course. In this course we adopt the Interactive Learning Model of the Harvard Business School. The model operates under the premise that success in business comes from experience and knowledge, from the ability to analyze and reflect, from observing and interacting with others, and learning from these encounters. The primary learning objective in this course is to develop a mental framework for solving general marketing problems. Much of the material in this class may not be new; the focus is on the use of concepts to make evaluations and decisions about marketing. Having taken a variety of courses prescribed by the MBA program, you are now ready to put all the pieces together for a complete picture. You will work with the tools you have developed in other courses and play the role of a marketing manager. In a nutshell, the mental framework for how to think of marketing strategy is: marketing strategy should be a roadmap that identifies where you are, where you want to be, and what you should do as you go from where you are to where you want to be. Strategy should have a long-term view and should tell a story that ties together different marketing and business issues. The focus is on thinking about the strategy framework and how to apply this framework to guide your strategic decisions. The main idea in this class is to think about how different issues should be considered when developing a strategic story. COURSE OBJECTIVES The course has several broad objectives. Every student will reach these objectives proportionate to their commitment to the goals and willingness to do the required work to achieve them. The first objective is to enhance each person s ability to identify marketing problems, analyze their nature, and develop innovative solutions consistent with analysis. A second broad objective is to give you an opportunity to apply your marketing knowledge to real-life situations. More specifically, the course aims to help students achieve the following objectives: Understand the role of strategic planning in marketing management. Be able to go through the process of developing an integrated marketing plan for a product/service. Be able to go through the process of analyzing comprehensive case scenarios. Be able to recognize cross-functional implications of marketing decisions via simulations. Be able to explore marketing topics in greater detail and apply these to real world situations. Develop, improve and use written communication skills. 1

2 TOPICS The following topic will be covered: Topic 1: Strategy & Customer Driven/Value Innovation Topic 2: Strategic Marketing Planning Process Topic 3: Situation/Environmental Analysis Topic 4: SWOT Analysis & Mission Topic 5: Goals/Objectives & Positioning Topic 6: Consumer Behavior, Customer Satisfaction & Loyalty Topic 7: Strategies for Growth, Decline, Speed, & Differentiation Topic 8: Tactical Marketing Strategies: New Product Development and Brand Management Topic 9: Tactical Marketing Strategies: Strategic Pricing & Distribution Issues Topic 10: Tactical Marketing Strategies: Integrated Marketing Communication Topic 11: Implementation, Metrics & Controls Topic 12: International Considerations Topic 13: Ethics, Social Responsibility, and Sustainability COURSE MATERIAL Required Course Materials include: Kim, W. Chan and Renée Mauborgne (2005), Blue Ocean Strategy, Boston, Massachusetts: Harvard Business School Press. Birnbaum, Bill (2004), Strategic Thinking: A Four Piece Puzzle, Costa Mesa, CA: Douglas Mountain Publishing Capstone Business Simulation Subscription (the simulation must be purchased directly from the vendor at ) All students are require to register Be sure to select Marketing Strategy (your section) which is also industry C Once purchased, the manual can be downloaded directly from the web. Articles will be assigned by the instructor for each topic and can be accessed freely through the Polk Library websites via online library database Business Source Elite / EBSCO Host): Articles related to each weekly will also be chosen by discussion leaders assigned each week. Optional: Any guidebook for developing a marketing plan. This can be a basic marketing text book as they often contain sample plans. There are also many online sources and practitioner books that provide good information about writing a marketing plan. If you would like a book specifically for a guide I recommend: Wood, Marian Burk (2013), The Marketing Plan Handbook (5 th edition), Upper Saddle River, NJ: Pearson/Prentice Hall. (Earlier editions will suffice and may be less expensive.) 2

3 GRADES Your grade will depend on how well you perform on the requirements of the course. If some parts are not clear to you, I will be glad to explain it in greater detail. More detail on grading for specific course requirements/assignments are given within each course section. Individual Assignments Team Assignments Assignment Weight Blue Ocean Strategy Assignments 25% Weekly Discussion Participation 15% Marketing Plan 25% Simulation Performance 25% Team/Group/Peer Evaluations 10% Total: 100% Letter grades for all assignments and your final course average are calculated on a relative basis. The table below indicates how scores are converted into grades. No Rounding! Score Letter grade 93+ A A B B B C C C D D D < 60 F NO ROUNDING! 3

4 PARTICIPATION You are expected to participate in weekly discussions. Each week a new discussion topic is posted on our D2L site. Students will rotate through a leadership role and a reporting role in their discussion group (NOTE: THIS GROUP WILL BE DIFFERENT THAN YOUR SIMULATION TEAM TO MAXIMIZE STUDENT INTERACTION.) Part of our class time each week will include small group discussion related to the week s topic and the assigned reading materials (see schedule). In addition, the leader each week will select an additional article to be read by their group and pose a thought-provoking discussion question or two, leading the small group in class discussion. All students will play the role of discussion leader twice and Reporter twice. All weeks (no matter which role you play leader, participant, reporter) you are expected to come prepared to participate in discussing the week s topic in your groups. Leader Role: Select an additional reading/article related to the week s topic and readings. Lead your small group discussion. (Note: On the week you are assigned as leader twice throughout the semester you will likely have to read ahead to allow time to search for a relevant article and post a link or list the reference as well as to plan your discussion question.) Participant Role: All students are expected to prepare and participate in a way that adds to the discussion and is constructive to furthering the discussion. There are not always right answers and I expect opinions and ideas to be diverse. Even when we disagree, we can communicate in a thoughtful and constructive manner. Don t be afraid to offer an alternative view point but always do so in a respectful manner. Reporter Role: Students will also rotate serving as a reporter to high-light key discussion points from their small group discussion for discussion by the larger group. 4

5 BLUE OCEAN STRATEGY ASSIGNMENTS & MARKETING PLAN 1. Strategy Canvas: Outline the CURRENT factors the industry competes on and invests in (NO NEW factors). In addition, identify the groups of competitors within the industry and map their position on each factor. For an example of the map see figure 2-1 on page 26 of Blue Ocean Strategy. Briefly describe each competitor group, remember this should a small number of groups 2-3 max you DO NOT need a line for each individual competitor. Describe each factor in simplified terms in one paragraph based on how the industry defines the factor, how customers evaluate the factor and how competitors currently try to differentiate on the dimension. 3 pages MAX 2. Six Paths Analysis: Chapter 3 of Blue Ocean Strategy walks you through a series of analytic questions designed to help you examine your industry and identify new market boundaries (or help you find a Blue Ocean). Using the questions in the concluding paragraph of each of the 6 paths, analyze your industry. 5 pages MAX 3. Strategy Canvas of the Future: Map your strategy on both the current factors the industry competes on and invests in as well as the new opportunities to create a Blue Ocean Strategy based on your Analysis in Assignment 2 above. Create an ERRC Grid and describe any changes (Eliminate-Reduce-Raise) from your initial strategy canvas. In addition, describe each NEW factor (create) in simplified terms based on how you plan pursue the Blue Ocean Strategy. 3 pages MAX 4. Buyer Utility Map: Examine the buyer experience in detail (you can use the questions in Figure 6-3 on page 123 and 6-4 on page 124 to guide your analysis). Provide a summary explanation of your map. Based on this analysis recommend a pricing strategy please note for this assignment I do not need a specific price (though you may provide one if you have the information) but rather I am looking for which price corridor (Upper-Mid-Lower) you recommend for this product or service see Figure 6-5 on page 128 and the corresponding discussion in chapter 6. Be sure your utility map and discussion support your pricing recommendation. 4 pages MAX 5. Overcoming Organizational Hurdles: Identify organizational hurdles you anticipate in each of the four dimensions (Cognitive, Resource, Motivational, and Political) and outline the key challenges your organization is likely to face in each category. While there may be several hurdles in each dimension pick one within each dimension (4 in total) and develop a brief strategy for how to prevent or overcome that challenge you anticipate. 3 pages Max 5

6 CAPSTONE SIMULATION We will be using an innovative computer simulation game for this class ( The simulation is designed to give you a more realistic feel for how business decisions affect the organization as a whole. Thus, in addition to marketing-based decisions, you will also be making decisions concerning such areas as finance and production. An important goal with regard to the simulation is to gain a better appreciation for how the functional areas within a firm work together to achieve stated objectives. Each student enrolled in the class will need to purchase the simulation from the online vendor. The individual price is about $54. I have set up the simulation already. Register and search for industry C The name of the class is: Marketing Strategy Each team is required to submit a one-page summary that outlines the general strategy that the team will pursue. The power point presentation and your manual contain several basic strategies that you can select from or you can create your own. Your summary statement is due on October 2nd. It should include the following: o Corporate strategy and mission statement for your team. o o Outline of your company s Marketing, Production, R&D, and Financial intents. Four success measures that you want to be evaluated on. These must include the stock price; however, your team will choose the other three measures upon which they wish to be evaluated. The possible success measures are profit, market share, ROS, asset turnover, ROA, ROE, stock price, and market cap (see simulation site Homework/Success Measures/Criteria Definition for a definition of each). Round decisions are to be submitted by the corresponding deadlines (Wednesday by 1:00 pm). Rounds will be processed few hours later. Rounds cannot be reprocessed, so make sure all decisions are submitted on time. Performance will be evaluated by the stock price and the other three metrics you choose averaged for the last three rounds: Round-6, Round-7 and Round-8. In addition, performance will be evaluated against your stated strategy, consistency of performance, and ability to respond to changing market conditions. If your team would like to change their overall strategy, please talk to me directly first and you will be required to submit a new mission/strategy statement along with rationale for making the change. 6

7 MARKETING PLAN This is also an individual assignment. Each student is responsible for writing a marketing plan for their Blue Ocean product or service idea. Your grade for this assignment will be derived as follows: EVALUATION CRITERIA FOR THE MARKETING PLAN EVALUATION CRITERIA EXECUTIVE SUMMARY/INTRODUCTION * Brief introduction of your product or service * How is your product/service entering a Blue Ocean STRATEGIES & OBJECTIVES * Situation Analysis (SWOT, Competitive Analysis, Industry Analysis) * Positioning Strategy (how is your product/service positioned relative to other similar products/services, how is it unique?) * Target Market (identify exactly to whom you will sell, how big the target market is, and primary/secondary markets) * Identification of Key Success Factors/Sales Objectives/Forecast WRITTEN 5 30 MARKETING MIX (Marketing mix of tools for implementation your action plan should be clearly linked to your objectives e.g., if your target market is local you should not use national television ads) * Product (branding, packaging etc.) * Pricing * Distribution * Promotion (Integrated Marketing Communications: personal selling, sales promotion, traditional advertising media, nontraditional advertising online & social media, merchandising, publicity) UNIQUENESS AND SCOPE OF PLAN * Creativity * Feasibility of Idea * Scope of the Marketing Plan WRITTEN & ORAL PRESENTATION * Organization of report (flow, clarity, to the point) * Writing style (easy to understand, free from errors) * Professional appeal * Clarity and Professionalism of oral presentation PEER REVIEW * Evaluation of peer review you provide to your partner. * Use of evaluation provided to you to improve your own plan TOTAL POINTS 100 7

8 Policy on Academic Integrity Academic Dishonesty University policy with respect to academic misconduct will be strictly enforced. Any attempts at cheating, plagiarism, or facilitating academic dishonesty will be severely dealt with and may result in a penalty of an F for the course. The University of Wisconsin Oshkosh is committed to a standard of academic integrity for all students. The system guidelines state: Students are responsible for the honest completion and representation of their work, for the appropriate citation of sources, and for respect for others academic endeavors. (UWS 14.01, Wisconsin Administrative Code) Students are encouraged to review the procedure related to violations of academic honesty as outlined in chapter UWS 14, Wisconsin Administrative Code. The system guidelines and local procedures can be found on the Dean of Student website at S Please include BUS-771 in the subject line in your s. s about group issues/questions should be addressed not only to me but also to all group members. 8

9 WEEKLY SCHEDULE Week Agenda/Topics Reading/Assignments/Deliverables 9-4 Introductions and Organize Introduce & Organize Capstone Simulation Intro Capstone Manual Discussion Topic: Marketing Review Simulation Slides Strategy; Customer Driven Value Blue Ocean Ch 1 & 2 & Innovation Article: Levitt: What Business Are you In? 9-11 CapSim Details & Questions Discussion Topic: Strategic Marketing Planning Process *STUDENT led discussion begins* 9-18 Discussion Topic: Situation, Environment & Competitor Analysis 9-25 Discussion Topic: Mission and the New SWOT 10-2 CapSim 1 st official Round! Discussion Topic: Strategic Goals & Positioning 10-9 Discussion Topic: Consumer Behavior, Satisfaction & Loyalty Capstone Manual (again) CapSim Tutorial Strategic Thinking Ch 1 & Appendix A & B Article: Reeves, Love, Tillmanns: Your Strategy Needs a Strategy Blue Ocean Assn #1 Due 9/11/13 6pm CapSim Practice Rounds Blue Ocean Ch 3 Article: D Aveni: Mapping your Competitive Position CapSim Practice Rounds Strategic Thinking Ch 2 Article: Blue Ocean Assn #2 Due 9/25/13 6pm CapSim Round 1 Decision Due 10/2/13 CapSim: 1 Page Mission/Strategy/Measures Due 10/2/13 6pm Blue Ocean Ch 4 Strategic Thinking Ch 3 Article: Martin & Volpe: Target the Right Market CapSim Round 2 Decision Due 10/9/13 Blue Ocean Assn #3 Draft for Strategy Fair Due 10/9/13 6pm BRING HARD COPY Blue Ocean Ch 5 Article: Spenner & Freeman: To Keep your Customers, Article: DeLong & Vijayaraghavan: Should you Listen to the Customer? 9

10 10-16 Discussion Topic: Strategies for Growth, Decline, Speed, &Differentiation Discussion Topic: Marketing Mix: New Product Development & Branding Discussion Topic: Marketing Mix: Distribution & Pricing 11-6 Discussion Topic: Marketing Mix: Integrated Marketing Communications Discussion Topic: Implementation Metrics & Control Discussion Topic: International Considerations, Ethics & Sustainability CapSim Round 3 Decision Due 10/16/13 Strategic Thinking Ch 4 Article: Yoon & Deeken: Why it Pays to be a Category Creator CapSim Round 4 Decision Due 10/23/13 Blue Ocean Assn #3 Final Due 10/23/13 6pm Article: Keller: The Brand Report Card Article: Thomke & Reinertsen: Six Myths of Product Development CapSim Round 5 Decision Due 10/30/13 Blue Ocean Ch 6 Article: Gourville & Somon: Pricing & the Psychology of Consumption Article: Chernev: Customers will pay more for less CapSim Round 6 Decision Due 11/6/13 Blue Ocean Assn #4 Due 11/6/13 6pm Article: Rayport: Advertising s New Medium Article: Teixeira: How to Profit from Lean Advertising CapSim Round 7 Decision Due 11/13/13 Blue Ocean Assn #5 Due 11/13/13 6pm Blue Ocean Ch 7 Article: Nichols: Advertising Analytics 2.0 CapSim Round 8Decision Due 11/20/13 Draft Marketing Plan for Peer Review 11/20/13 6pm Article: Holt, Quelch, Taylor: How Global Brands Compete Article: Johnson: Heinz on Powering Growth in Emerging Markets Article: Unruh & Ettenson: Winning the Green 10

11 Frenzy Thanksgiving No Discussion Peer Review of Marketing Plan Due 11/26/13 at 10pm ( your peer review partner) 12-3 Marketing Plan Presentations PRESENTATIONS Marketing Plan Presentations Course Wrap-Up Evaluations Final Marketing Plan Due 12/11/13 6 pm Team/Group/Peer Evaluations Due by 12-12* 11