BMK 211 Marketing Management. Regular classroom after each class or by appointment REQUIRED TEXT AND MATERIALS:

Transcription

1 Course: Professor: Office hours: BMK 211 Marketing Management Daniel Duyck Regular classroom after each class or by appointment REQUIRED TEXT AND MATERIALS: Required Textbook: Marketing Management: Canadian 14 th Edition by Kotler, Keller, COURSE OBJECTIVES AND DESCRIPTION: The overall objective of this course is to introduce you to the fundamental principles and concepts of marketing and to provide you a structure for applying marketing in a decision making framework. By the end of the course, each student should attain proficiency in the following areas: 1) Understanding marketing concepts and their application to profit-oriented and non-profit oriented organizations; 2) Applying these concepts to the analysis of marketing problems and development of appropriate and creative marketing strategies to solve these problems; 3) Understanding the need for a marketing orientation in the competitive global business environment; 4) Having an appreciation that marketing is integrated with other functional areas of business; 5) Developing an understanding and acquiring skills in how to successfully design and implement marketing plans and strategies; 6) Understanding the concept of marketing mix and its application in traditional and novel environments characterized by emerging information technologies; In addition, the course will help develop the student s verbal and written communication skills as they relate to business and the student s ability to work effectively in teams. COURSE EVALUATION: Attendance & Participation 10% Mid-term Exam 25% Final Exam 35% Marketing Plan- Group Project (Written Report) 20 % Marketing Plan- Group Project (Oral Presentations) 10% 1

2 Tentative Schedule Part I The Big Picture Week 1 Elemental marketing concepts & Understanding consumers Week 2 Segmenting and targeting markets Hand in team composition Part II Product Strategies Week 3 Week 4 Product concepts Managing the product mix Part III Pricing Strategies Week 5 Forms of pricing & determining the right price Week 6 Mid-term test on part I, II & III Mid-term (25 %) Part IV Promotion Strategies Week 7 Week 8 The promotion mix IMC an integrated approach Part V Distribution Strategies Week 9 Week 10 Marketing channels Managing channel relationships Part VI Selling your ideas Week 11 & 12 Final Presentations Handed in week 11: Written report (20 %) Oral presentation (10 %) Exam Period Final Exam (no supplemental exams) Final (35 %) Class participation (10 %) 2

3 DESCRIPTION OF COURSE EVALUATION: Individual tasks A) Participation Class Attendance 5% Class Participation 5% B) Mid-term & Final Exams The mid-term and final exams are closed-book, in-class, individual based tests. There will be one and half hours to complete the mid-term and two hours to complete the final. The mid-term will take place during regularly scheduled class periods and the final will be held on the date assigned by the university. There is NO supplemental exam provided. In the event of a school closure (e.g., due to bad weather conditions), the mid-term exam will be re-scheduled for the following class period. C) Marketing Plan (Written Report) By groups of 4 or 5, students are to create a marketing consultants agency. A hypothetical client is offering a contract to develop a marketing plan for their latest product. Several agencies will be competing for the contract by proposing their marketing strategies in a written report and during an oral presentation. Therefore students will in turn play the role of marketing consultants presenting their strategies and then play the role of the client who is evaluating the strategies and presentations. The winning team will be awarded a 2 point bonus. Part I: The Consumer and Market Profile Before your group can come up with the marketing strategy, it will need to have a solid knowledge of the target market. For this part of the assignment, the group is required to construct an in-depth understanding of the consumer and the market within which they will sell their product. It is to be no more than 6 typed, double spaced pages, 12 pitch (not including appendices). Part II: The Marketing Strategy This part of the marketing plan provides the actual strategy (the 4 P s), including your group s financial calculations, export considerations, and implementation of the product plan. This strategy is specifically constructed for the target market your group describes in the Consumer and Market Profile part of the assignment. D) Marketing Plan (Oral Presentation) On the last two weeks of class, each group will be assigned a time slot to present both parts of their marketing plan. Each group will have a maximum of 15 minutes (including setup time) to present. Each member in the group should be involved in the presentation. Each presentation will be followed by a 5-minute question-and-answer session directed to the group presenting. The presentation will be evaluated based on the presentation content, quality and creativity. Presentation content refers to the comprehensiveness of the content; presentation quality refers to the effectiveness of presentation in communicating the plan, the logical flow and the conciseness of the presentation; presentation creativity refers to the effective use of visuals and the variety in presentation techniques. 3

4 Marketing Plan Guidelines Part I The Consumer and Market Profile The aim here is to identify and develop an in-depth understanding of your consumer and the market within which you will sell your product. Remember that the appendix is a great place to place supporting material (graphs, charts). SECTION 1: BRIEF NEW PRODUCT INTRODUCTION pages Briefly introduce the new product with a very brief but clear description of what you will be offering to the Canadian market and what makes the product different (product differentiation). Remember, your new product should be a business-to-consumer product. Include a brief description of the consumer want that your product fills. How does the new product link to the strategic role of the company? What is the positioning of the new product? SECTION 2: CONSUMER PROFILE pages Consumer Segmentation & Targeting Here we need to show our understanding of our customer. Who is our customer? Why do they need our product? Extensive and accurate application of marketing segmentation and consumer behaviour characteristics. (Remember to use proper segmentation terminology) Appropriate selection & justification of chosen target market. SECTION 3: MARKET PROFILE pages Here we can demonstrate why this new product idea is a good idea. What are market conditions like? Who are our competitors? Situation / Market Analysis: Consumption rates/ size of the market / growth of the market/ future growth potential of the market / barriers to entry. Trends in the market that support why proposed new product will be successful. Threats in the market that might hinder why the proposed new product might not succeed. A reminder- secondary data sources are available in the library which can help you obtain relevant information to calculate the size of your market. Competitor Analysis: Direct competitors (Manufacturers & their brands); Specific market shares of direct competitors; Presence of indirect competitors; Describe the competitive field. (Is the market fragmented? Consolidated? Presence of a strong market leader?) TOTAL: 4-6 pages 4

5 Part II Marketing Strategy In this section we are building the actual marketing plan for the new product. Remember that the appendix is a great place to place supporting material. For example, many papers will include an image of the product (dimension/packaging), advertisements, numerical calculations, detailed implementation timeline etc. in the appendix. SECTION 1: MARKETING MIX ~ 5 pages Product: In-depth product description (core benefit, size, colors, warranties, customer service, packaging etc.) Positioning including positioning map; Differentiation & unique selling proposition of the product; Branding (name, logo) Product Strategy (eg. Does it complete a product line?); PLC status/ issues. Pricing: Price (Final price for consumer, Price of sale to intermediary (if any)) Pricing strategy (Cost-based, Penetration, Skimming etc) Pricing adjustments (eg. Sales promotions) Product margins Price chains. Distribution: Distribution strategy; Potential channel conflicts (if appropriate). Where the product is available / number of outlets How the product is presented/displayed in the outlet. Promotion: Communication objectives & key message of communication; Use of, and examples of - an appropriate promotional mix for your product. < eg, advertising, public relations personal selling, sales promotion, direct marketing> Be thorough. For example, for advertising, remember to include the creative, support for your creative, and media selection (eg. Q-92 radio in Montreal during the Drive at 5 ). SECTION 2 ~1 page Financial Evaluation: Contribution Income Break-even units/dollars Break-even market share; Projected sales in units and dollars, profit (or losses!) for year 1. SECTION 3 ~1 page Implementation A specific and detailed sequence and timeline of key marketing plan steps. For example. When does your company develop its product? Secure distribution? Launch its product? Run its various advertisements? Introduce a sales promotion? Expand to the new market? Consider all of the important steps in your plan. 5