MARKETING MANAGEMENT

Transcription

1 MARKETING MANAGEMENT COURSE OUTLINE Instructor Name: Dr. Sarangapani Nivarthi Title : Associate Professor Assistant Dean, Management & Marketing COURSE DESCRIPTION Marketing Management is usually the primary exposure the business student has to the Marketing discipline. This course serves as your introduction to the Principles of Marketing. It takes an operational or managerial perspective, with emphasis on the variety of decisions that a Marketing Manager must deal with in his/her job. The course is successful if it provides you with a structured way of thinking about marketing problems and provides you with specific alternative frameworks to approach marketing decisions and marketing planning. It is a pre-requisite for all other courses in Marketing. LEARNING OBJECTIVES 1. Introduction, Marketing Planning & Value Propositions 2. Consumer Buyer Behaviour 3. Business Buyer Behaviour 4. Segmenting, Targeting, Positioning & Branding 5. Marketing Mix Product, Pricing, Channels & Communications 6. Sales, PR & Promotional Campaigns 7. Marketing Operations Management 8. Observe the critical decisions impacting marketing management PRE-REQUISITES Core: None Complementary Courses: Marketing Research ASSESSMENT ITEMS 1. JOURNAL REVIEW (Related to marketing, consumer behaviour, services marketing only) 10% (INDIVIDUAL ASSESSMENT) 1

2 2. PROJECT PREPARATION 10% (INDIVIDUAL ASSESSMENT) 3. MARKETING PLAN 30% (GROUP OF MAXIMUM 4 MEMBERS ONLY) 4. FINAL EXAMS 50% (INDIVIDUAL ASSESSMENT Take Home Exams) Total 100% INSTRUCTIONAL METHODS AND EXPECTATIONS The delivery of the course is through Face-to-Face on campus and requires students to attend all sessions. The sessions will comprise a mix of lectures, presentations, videos, exercises, and discussions on concepts. Group Assignments One component of the assignment/s comprises of a group work for the marketing plan. Further details of the group work are explained below. Class Participation Participation is the core of the learning process for you and your classmates. The sessions are planned for interactive learning which mirrors real world practice. The delivery of the course is built in a manner which requires you to brain-storm for creative ideas during the sessions and is strategically linked to each of the assignment item/s in a continuum. Thus, your participation in each of the session throughout the semester is vital and reflects your contribution to your classmates learning. This includes attendance, reading assigned materials, and active participation in class discussions. Many of the concepts will require you to demonstrate the principles of marketing which you and others would have observed as a consumer and thus leads to a rich mutual learning. CONSULTATIONS Please do not hesitate to consult with me for clarification of course concepts and specific questions that will help your understanding of the material. I prefer to be consulted in person at all times. Please me or text me on before dropping-in as I might be preoccupied or engaged in other course activities. 2

3 RECOMMENDED TEXT AND READINGS You are required to find and read the indicated topics in the course schedule from the text. The copies of the text book are also available in our library. Required Text: Marketing Management: A South Asian Perspective. Kotler, Keller, Koshy, Jha; or a similar version of Marketing Management. Some useful journals include: Journal of International Marketing Journal of Business Research Journal of Global Marketing Journal of Marketing Research Asia Pacific Journal of Marketing and Logistics Journal of International Business Studies Journal of Marketing European Journal of Marketing Journal of International Management 3

4 Topics Schedule Week Topics Learning Objectives Workshop Activities 1. Introduction, Marketing Planning & Value Propositions Customer Development Process 2. Consumer Buyer Behavior Buying Process 3. Business Buyer Behavior Segmentation & Targeting 4. Positioning & Branding Marketing Mix Product 1 a. Value spheres b. Segmenting Targeting Positioning c. Marketing Mix d. Value Delivery a. Demand measurement (a) (b) b. Buyer Behavior c. VALS (a) Maslow (b) d. Buyer Roles a. B2B and B2C b. Industrial Buying Behavior c. Vendor Analysis d. PIMS a. Perceptual Map b. Brand Positioning e. The Customer Development Process f. Customer Pyramids g. The Market Research Process e. 5 stage model of buying process f. Brand Beliefs g. Purchase decision e. Segmentation Process f. Segmentation Variables for Consumer Markets g. Segmentation Variables for Business Markets h. Target Market Selection c. Product Life Cycle (a) Patterns (b) Types of products (c) d. Competitive cycle (a) PLC summary (b) e. Conjoint Introduction to reviewing Journal Articles. Introduction to critical thinking/writing and research. & Group Formation for the Marketing Report. Introduction to the projects 1, 2 & Capstone what is expected and how do they differ from one and other. Introduction to the first 3 sections of the marketing report. Journal Due by Saturday 5.30 PM 4

5 f. TLC Adoption of Innovations g. Five Product Levels 5. Marketing Mix Product 2 6. Marketing Mix Pricing 1 Marketing Mix Pricing 2 7. Marketing Mix Channels 1 Marketing Mix Channels 2 8. Marketing Mix Communications 1 a. Width & Length of Product Line b. Branding Decisions c. Next 3 Ps d. Types of Products continuum e. Service Quality a. Setting Pricing Policy b. Demand Elasticity c. Cost Curves d. Experience Curve a. Distributor Effects b. Channels Types c. Value Adds & Costs d. Hybrid Channels Grid a. Communication s Process Exam 1 e. 3 Cs for price setting f. Target Price for BE g. Price Discounts e. Types of Retail Organizations f. Wholesaler Types e. Promotional Mix f. Cost effectiveness Introduction to 4, 5, 6 sections of the marketing report. Stage 1 progress of projects 1, 2 & Capstone Introduction to the remaining parts of marketing report. 5

6 Marketing Mix Communications 2 b. Effective Communication s c. Response Hierarchy Models d. Objective Task Budgeting Stages g. Advertising i. 5 Ms of Advertising; ii. T-A-E Functions iii. Ad Timing Patterns iv. Sales Impact of Advertising Stage 2 progress of projects 1, 2 & Capstone 9. Sales Promotions, PR & Campaigns a. Consumer Promotion instruments b. PR Mix c. DM Campaigns Overview of the marketing plan. 10. Sales Process a. Sales Force Design b. Sales Performance evaluation c. Effective Selling Stages d. Zone of Agreement Stage 3 progress of projects 1, 2, & Capstone. Marketing Report Due by Friday 5.30 PM 11. Marketing Operations Management a. The Control Process b. Financial Model of Net Worth c. Dynamics of Orders d. Marketing Audit Exams Exam Period 6

7 Details of Assessment Items 1. Journal (Word Limit 1200) You are required to select a topic related to marketing (inclusive) in areas where strategic attention of marketing planning is sought. Examples; Social marketing and planned changes Rural marketing and issues Green marketing and eco issues The topics chosen necessarily should be current and that which is requiring specific focus. The marketing issues could be pertaining to India or a global context. It is recommended that you choose any one country context and not a region as this would enable you to undertake research in an appropriate manner and then analyze four important aspects of the journal as below; 1. Introduction 2. Background Study 3. Critical review of the literature observed in the journal 4. Conclusion and recommendation Objective: To overcome the major challenge in academics relatively in thinking critically/writing, precise and succinct reporting while undertaking marketing research. 2. Marketing Plan (Maximum 4500 words) Group Work Students are required to form groups of 3-4 (max) members for marketing analysis and report. The formation of the group will be finalized in the first two weeks of the session. Formation of the group is the responsibility of the students. You are expected to form the group at your own initiative. However, the lecturer/tutor may help in forming groups, if needed. Please write a report with 1.5 lines spacing, Times New Roman 12 font, APA or Harvard style referencing with consistency (refer to the university guide for referencing, if you find it difficult do let me know and I shall ensure that you have a copy of both the formats for this unit), Paraphrasing, use of English language, presentation, and academic rigor are all equally important. Late submissions shall attract 5% penalty every day for a period of 7 days and should be accompanied with valid 7

8 documents to support the case (refer to the schools mandate for valid conditions). Any reports submitted later than 7 days shall be marked zero. Each case analysis and report should include the following sections: 1. Executive Summary 2. Introduction. State the background information, current situation facing the firm and other relevant issues. 3. The Vision, Mission and Strategic Marketing Objectives: Vision and mission of the organization, objectives of the marketing plan, target markets, demographics, psychographics, and major marketing problem and issues. 4. Environmental Analysis (PESTEL): Identify the broader situation affecting the company including demographics, technology, innovation, economic characteristics and forces of change and attractiveness of the industry. 5. Competitor Analysis: Identify the market share, growth, etc. You can show information specific to the company as well as comparing with competitors (at least two major competitors). Preset some highlights of financial status of the chosen company. Present information using various types of graphs, figure, pie charts etc. 6. Internal/ SWOT Analysis: Identify the firm s resources, capabilities, core competencies, value chain activities. 7. Marketing Mix Strategies: Product, price, distribution (or 7Ps in relation to services), and promotion using integrated marketing communications (IMC). 8. Recommendations and Implementation. Provide some managerial implications for practice in International markets arising from your study. Include Green Marketing Practices and Ethics & Corporate Social Responsibility in your assessment. 9. Conclusion. Write a final conclusion highlighting the strategic areas of your plan and place some remarks. 10. Appendix (graphs, charts, figures, pictures etc.) The student groups are advised to choose from any one of the following topic/s. Please inform your instructor about your group choice of topic, and it is not recommended for two groups from the same class choose the same topic. Hence it is important to advise your instructor of your group details and the choice of topic in advance. List of Organizations: 1. Lufthansa Airlines 2. Cathay Pacific 3. Westpac Banking Corporation 4. HSBC 5. Blackmores 8

9 6. Johnson & Johnson 7. Hungry Jacks 8. Giorgio Armani (fashion) 9. FCUK 10. Facebook 11. Grand Hyatt Objective: To guide you into the practice of writing marketing plans/reports which will then aid your main project individually. Also, pitching of the marketing plan is mandatory in practice. 3. Project Support (individual) As part of the early intervention strategy support for your main project/s has been planned in the delivery of this course. The details of which is discussed during workshops. Please be reminded that these projects whether it is year 1 Or year 2 Or the Capstone are all mandatory and requires both depth and academic rigor. Thus it is advisable that an early start with support and monitoring will ensure timely completion and hence the efforts extended to you. Rest of the details will be discussed in person during the sessions. 4. Final Exams (Individual) The topics for final exams shall be discussed during week 11. It is advised that you be on top of the course contents on a weekly basis which will aid your exam preparations as there would be no such context/theory/framework/s tested which is not pertaining to the course. The exam questions mandatorily will critically test your theoretical application to strategic contexts and will be of essay types requiring you to answer each of the questions in about one and half to two A4 pages. This is a open book take-home exam. NB: Please be informed that this unit administers standard metrics to grade all your assignments. Academic Integrity Students have a responsibility to uphold business schools standards on ethical scholarship. Good scholarship involves building on the work of others and use of others work must be acknowledged with proper attribution made. Cheating, plagiarism, and falsification of data are dishonest practices which contravene academic values. Text-matching software Text matching software may be used to detect plagiarism in this course. 9