BAMA 550 Marketing (P1) Course Outline

Transcription

1 COURSE GOALS This course is designed to give you hands-on experiencing with a range of analytical frameworks and techniques that are used to guide marketing strategy decisions. The concepts and skills learned in this course will enable you to develop effective marketing strategies. The concepts taught in this course are fundamental and apply to a wide range of product and service industries, including Business-to-Business (B2B) and Business-to-Consumer (B2C) markets. The course explores a range of marketing contexts using real-world case studies, is focused on exposing you to best practices, and is aimed at developing your ability as a manager and decision maker. LEARNING OBJECTIVES After completing the course, students will be able to: 1. Understand the activities and decisions involved in developing a marketing strategy. Specifically: a) Market segmentation and target market selection decisions b) Product/service positioning decisions c) Pricing decisions d) Distribution decisions e) Communication decisions 2. Apply analytical techniques to make effective marketing strategy decisions. Specifically: a) Analyze qualitative and quantitative buyer behavior data to identify market segments. b) Analyze market and competitor data to identify market opportunities and make effective positioning decisions. c) Analyze profitability and price sensitivity to make effective pricing decisions. d) Analyze market accessibility and characteristics of channel members to make effective distribution decisions. e) Analyze market behavior and media characteristics to make effective communication decisions. ASSESSMENT SUMMARY Class Participation: 20% (throughout course) Segmentation Exercise: 25% (due by 5pm, Friday Sep 13) Marketing Analytics Exercise: 25% (online 12pm-8pm, Thurs Sep 19) Marketing Plan Team Presentation: 30% (Exam Week, specific times TBA) PROGRAM GOALS (Check those that apply) MBA Critical & Analytical Thinking Integration Communication Ethics & Social Responsibility - 1 -

2 COURSE INFORMATION Division: Marketing Term/period: P1 Instructor: Dr. Tim Silk Phone: Office hours: Tue & Thu 12:30-1:30 Class meeting times: Sec 1: Tue/Thu 8am-10am. Sec 2: Tue/Thu 10am-12pm Classroom location: HA 132 COURSE MATERIALS & REQUIREMENTS All readings, cases and close notes can be found on the course page in Connect. SCHEDULE I have carefully selected a series of articles from leading management journals (e.g., Harvard Business Review, McKinsey Quarterly) that convey basic principles and frameworks. The articles are short and the reading for any given class is usually around pages. It is absolutely critical that you read the articles before class because I use that knowledge as a common starting point and build on it. This will ensure we get the most from our class sessions. Class CLASS TOPICS READINGS WHAT S DUE 1. Tue Sep 3 Marketing Strategy Overview, Intro to Segmentation, Targeting & Positioning 1. Note on Marketing Strategy (17p) 2. Market Segmentation, Target Market Selection, and Positioning (5p) 2. Thu Sep 5 Approaches to Market Segmentation 1. Rediscovering Market Segmentation (10p) 2. Customer Segmentation in B2B Markets (28p) 3. Tue Sep 10 Market Segmentation Case 1. Prepare case: Ford Ka (24p) your case analysis and decision in class 4. Thu Sep 12 Positioning Decisions: Competitive Analysis & Value propositions 1. Competitor Analysis: Understand Your Opponents (12p) 2. Using the Strategy Map for Competitor Analysis (4p) Segmentation exercise due by 5pm Friday Sep Customer Value Propositions in Business Markets (11p) - 2 -

3 5. Tue Sep 17 Pricing Decisions: Marketing Math Basics 1. Note on Low-Tech Marketing Math (9p) 2. Managing Price, Gaining Profit (11p) 3. Marketing Math Exercises Complete Marketing Math Exercises to ensure proficiency (solutions on Connect). 6. Thu Sep 19 Pricing Decisions: Evaluating Profitability and Price Sensitivity 1. How Do You Know When the Price is Right? (8p) 2. How to Stop Customers from Fixating on Price (7p) 3. If Brands are Built Over Years, Why Manage Over Quarters? (8p) Complete 60-minute Marketing Analytics Exercise on Connect between 12pm and 8pm on Thursday Sep 19 th 7. Tue Sep 24 Distribution Decisions: Analyzing market accessibility & channels 1. Designing Channels of Distribution (15p) 2. Are You Tough Enough to Manage Your Channels? (6p) 8. Thu Sep 26 Pricing & Distribution Case 1.Prepare case: Rhom & Haas (16p) your case analysis and decision in class 9. Tue Oct 1 Integrated Marketing Communications 1. Marketing Communications (11p) 2. Can You measure the ROI of Your Social Media? (9p) 10. Thu Oct 3 Marketing Communications Case 1.Prepare case: Metabical (11p) your case analysis and decision in class Exam Week Marketing Plan Presentations Team presentations: presentation times TBA TEACHING & LEARNING ACTIVITIES Our class sessions are management meetings where we discuss your analyses and decisions and the analysis behind them. Classes will consist of concept days and case days. On concept days, I will present concepts, tools, and techniques used in practice and provide insight into the challenges managers face when applying them. I encourage you to challenge the readings and come to class with your questions. Cases are used to learn how to analyze information and make decisions as a manager. Your job is to assume the role of the decision maker in the case, analyze the information that you feel is relevant, make a decision, and explain why your decision is the best course of action in light of the risks and benefits of the other alternatives available. I will occasionally present alternative approaches to solving the problem, but the analysis and decision are ultimately your responsibility. You must arrive to class with your analysis and decision. If you have not committed to a decision, you are not ready for class

4 Class Participation (20%): Each student will receive a participation score for each class and I will average the score at the end of the course. Respecting you classmates is paramount and I value quality over quantity. Grading Scale for Class Participation: 0 Absent or late to class. 5 Present but does not participate. 6 Participates with basic information such as case facts. 7 Offers an opinion or asks/answers a basic question. 8 Engages in a meaningful discussion with other members of the class. 9 Shares an analysis using data or evidence from the case or reading. 10 Provides insight or asks a question that is instrumental in advancing understanding. Segmentation Exercise (25%) Due 5pm, Fri, Sep 13 th The Segmentation Exercise involves working with a quantitative data set to identify market segments using the segmentation approaches learned in class. You will be asked to answer a number of specific questions that require you to segment the market, evaluate the attractiveness of the market segments, decide which segment(s) you wish to target, and explain why your target market selection is the best course of action in light of the risks and benefits associated with the various targeting options. Instructions for the segmentation analysis will be posted on Connect. It is an individual assignment; you may not consult with your classmates or any other individuals. Late submissions cannot be accepted and will receive a grade of zero. Marketing Analytics Exercise (25%) 60-minute exercise to be completed on Connect anytime between 12pm and 8pm on Thursday, Sep 19 th This is a 60-minute exercise used by AC Nielsen as part of its recruiting process to evaluate the analytical skills of job applicants. It tests basic math and logical reasoning skills relevant for marketing analysis (e.g., calculating market share, market growth rates, break even analysis, interpretation of market data, etc.). I include it in the course to evaluate analytical ability and to prepare students for the analyses they will be expected to perform in the real world. Students also find it helpful in preparing for job market interviews and case analyses. The 60-minute timed exercise will be available on Connect from 12pm to 8pm on Thursday, September 19 th. You may start the exercise at any point in that time window, but you will only have 60 minutes to complete the exercise once you start. The exercise is an individual assignment. You may not consult with your classmates or any other individuals. Marketing Plan Team Presentations (30%) Exam Week, specific times TBA Your assigned team will be given a comprehensive marketing plan case and deliver a 20-minute marketing plan presentation in which you outline a marketing strategy and the analysis behind it. Presentations will be followed by a 10-minute Q&A period with Tim. Teams will be formed by random selection. The format of your presentation is up to you but it should involve all team members and clearly outline the decisions and reasoning for each element of the marketing plan: 1. Segmentation Analysis, 2. Target Market Selection, 3. Product Positioning, 4. Pricing, 5. Distribution, 6. Marketing Communications. Presentation dates for each team will be determined by a random draw at the beginning of the course. Teams will be evaluated using the Marketing Plan Presentation Evaluation Form at the end of this syllabus. Your team should review the criteria before developing your presentation

5 OTHER INFORMATION In-Class Policies To make our time together enjoyable and efficient, I ask that you observe a few simple rules: #1: Be on time #2: Put up your name tag #3: Participate in discussions #4: No laptops. Note: this rule is observed in case-based courses across leading MBA programs

6 Team Members: Marketing Plan Presentation Evaluation Form BAMA 550 Marketing (P1) Evaluation Criteria: Score Application of course concepts: Depth of analysis: Support for recommendations: Responses to questions: Presentation Skills / Clarity: Total Score: Presentation Grade: Strengths: Areas for Improvement: - 6 -