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MARKETING MANAGEMENT(6)

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MARKETING MANAGEMENT(6)

    MARKETING 360 -- MARKETING MANAGEMENT

    Course Syllabus

    Instructor Contact Information Marketing 360 Instructors: Bill Boulding Gavan Fitzsimons Term 2, Fall 2005 Office: Dean’s office A327 Fuqua The Fuqua School of Business Office Hours: By email appt By email appt Duke University Phone: 660-7822 660-7793

    E-mail: bb1@duke.edu gavan@duke.edu

    Assistant: Anita Tapp Nancy Gump

Course website: http://faculty.fuqua.duke.edu/~gavan/marketing360/

Teaching Assistants Laila Lakhani Joanna Laytin, Academic Fellow Cristina Lane Nitin Agrawal Terry Leepoolsapya Jeff Angtuaco Conrad Leister Sumathi Balasubramanian Rebecca Levin Ravindra Bansal Tim Lippa Laura Bayzle Ming Liu Cristian Bisa Kalyan Machiraju Robert Bond Jeff Macmillan Susan Boothe Jim Masturzo Jonathan Connell Stephanie Nelson Lisa Fulmer Greg Peters Preeti Garg Amit Philip Liz Gordon Burke Raine Nitin Gupta Will Richardson John Herbold Chris Rogers Gregg Horvat Tyler Rushton Caleb Ickovic Arthur Sevilla Amy Johnson Alon Waks Kris Kaneta Kevin Whalen Katy Knipp Alan Williams Andrew Kotowski

1. Course Background and Objectives

"If we want to know what a business is we must start only with its purpose ... There is only one valid

    definition of business purpose: to create a customer. What the customer thinks he is buying, what he

    considers 'value' is decisive - it determines what a business is, what it produces, and whether it will

    prosper."- Peter Drucker, The Practice of Management

By creating and fulfilling wants and needs, marketing creates value for an organization's customers. The

    value it creates translates to substantial dividends for the firm and its stakeholders. The goal of this course, accordingly, is to delineate the means of creating and fulfilling these wants and needs. Creating this value requires that managers must effectively:

    1. assess marketing opportunities by analyzing customers, competitors, and their own company (the

    3 C's), and

    2. design effective marketing programs via selecting appropriate strategies for pricing, promotion,

    place, and product (the 4 P's) Accordingly, this course is organized around these three C's and four P's. While most course sessions emphasize one of these topics, please note that the goal of this course is to prepare you to create a marketing strategy that concurrently addresses all of these points.

2. Class Format

    We will draw on lectures, case discussions, and videos to explore the marketing concept.

2.1 Case Analysis

    Cases are synopses of actual business problems and are intended to place you in the context of a manager facing an actual marketing challenge. These situations are carefully selected in order to emphasize a key decision point and to replicate situations that you may well face in your own career. By reasoning through the case problems in class, you will be better prepared to attack those problems someday when they "really matter."

    To benefit from the case method of instruction, you must first delineate the problems presented in the case. As in the real business contexts these cases depict, it is often not clear exactly what the problems are and which decisions need to be made. Once these issues have been identified, you must i) isolate the relevant information that bears upon the decisions at hand and, in an effort to solve these problems, ii) employ the appropriate theory to exploit this information. In the process, you will i) learn a general process for attacking business problems and ii) be better able to address the specific situations in the cases should you face them in the future.

    To emulate as closely as possible the situations managers find themselves in at the time of the case, it is important that the class work from a common frame of reference. Basing your analysis or

    recommendations on material that is outside the case destroys this common frame and can denigrate the case discussion for others. Accordingly, all of our discussions will be based on the assumption that we are dealing with the problems of the company at the time of the case. Therefore, it is not necessary to do any library work or bring in outside information about the company or the industry beyond what is described in the case.

    Perhaps most importantly, after preparing a case you should be ready to make a clear recommendation about what course of action you would follow, and be prepared to back up that recommendation with both qualitative and quantitative analyses.

3. Grading and Course Requirements

    Grading in this course will follow the Fuqua guidelines for core courses. The school recommends that core courses follow the grade distribution in the table below:

    SP <25%

    HP 40%

    P, LP, and F >35%

The following table summarizes how your grades will be determined. The subsequent discussion

    elaborates upon each of these requirements.

    Grading Element Weight

    Class Participation (Individual) 25

    Three Hand-in Assignments (Group) 25%

    Mid-term Quiz (Individual) 15%

    Final Exam (Individual) 35

3.1 Class Participation and Attendance

Participation. Case-based learning requires class participation from every student. Participation and

    discussion are imperative to engender a collaborative learning environment in class. Without that

    participation, the learning experience is significantly diminished (to help ensure that participation is more

    widespread, and that all students have the opportunity to participate, students may randomly be selected

    to commence the case discussion in each class). In addition, participation also enables you to develop the

    skill to present and defend your ideas as well as to see contrasting points of view. Those skills can prove

    invaluable in your forthcoming careers. These points are reflected in the grading scheme.

When evaluating your contribution to the case and class discussions, factors such as the following are

    considered:

    ? Is the comment accurate, reflecting case facts but not merely restating them?

    ? Does the comment add insight to our understanding of the problem situation?

    ? Is the comment timely and does it advance the comments recently made by others?

    ? Does the comment move the discussion along by yielding a new perspective?

    ? Does the comment reflect a concern for maintaining a constructive and comfortable classroom

    atmosphere?

    The quality of your participation is a lot more important than the quantity. It is entirely possible that you

    can talk a lot and receive a low grade for class participation. It is also important that you actively

    participate in your team discussions.

3.2 Group Hand-in Assignments

Each group must submit each of the three hand-in assignments, due at the start of class. Groups will be

    your ILE groups. The first two assignments will be graded, while the final assignment will be handed in,

    but not graded.

    The deadlines are not flexible. Each assignment will be limited in length, inclusive of tables, spreadsheets

    and exhibits which may be integrated into the text. Use 11 point or higher, single or double spaced, one-inch margins all around. The length limits will be strictly enforced and non-conforming papers will be penalized. The specific assignment questions will be distributed as the assignment approaches.

    Your write-up must address those questions.

3.3 Mid-term Quiz

     thThe mid-term quiz will be a short quiz held during class on November 9. It will test basic knowledge of

    some of 3 C’s of marketing learned in the first half of the course.

3.4 Final Exam

The final exam will be a case analysis held during exam period (tentatively scheduled for Saturday, thDecember 9 from 2pm-5pm. We will make the case to be used in the final available during the last

    week of classes. We will then distribute questions pertaining to the case at the start of the final exam time.

    You must answer the questions during the time allotted for the final, which will be open book, and open

    notes. Further details regarding the final exam will be distributed in class.

4. Course Material

4.1 Required

    ? Course Pack. The course pack contains the cases to be discussed in this course as well as some

    ancillary readings.

4.2 Optional

    ? Kotler, P. and Keller, K. (2005), Marketing Management, 12 Ed., Englewood Cliffs, New Jersey:

    Prentice Hall.

5. Honor Code

    Rather than simply selecting the most current or “trendy” cases, we choose the premier ones from both the new and classic cases. This implies our cases have been used in prior classes and will be used in

    future classes. As such, it is possible to obtain case solutions from others (including any source on the

    Internet). However, such information degrades your learning, and therefore impairs your ability to

    demonstrate that you can “think on your feet” in your interviews and on the job. Similarly, passing such

    information to others adversely impairs their learning. Accordingly, it is a violation of Fuqua’s honor code to give or receive any information on cases or the final from anyone outside of your class section. In

    order to preserve our special Fuqua culture (and our advantage in the marketplace arising from how well

    prepared our students are perceived to be), we urge you not to abuse this policy or tolerate others who do.

6. Course Schedule

    Class Lectures Videos Cases Assignments **Oct 23 - Introduction Fed Ex B - Fed Ex B * - Kotler & Keller, pp. 8 25 **- Marketing Myopia **- A Note on Case Learning **- A Note on Marketing Arithmetic **Oct 26 Stew Leonards Southwest - Southwest Airlines **Airlines - Basic Quantitative Analysis for Marketing ** - How to Avoid Getting Lost in the Numbers

    The above sessions are an introduction to marketing and to some fundamental analytical tools that will be used throughout the course. In the next sessions we overview the three key factors that define the situation that the firm faces the 3C’s. *** Oct30 - Customer Analysis ODI - Optical Distortion Inc ***- Group Hand-in Assignment 1 ** - Value Based Strategies for Industrial Products*- Kotler & Keller, pp. 60-61, 72 80, 279-298 *- Kotler & Keller, Chapters 7 and 8

    **Nov 2 - Competitor and Barco - Barco ** Company Analysis - Note on the Structural Analysis of Industries** - Using Game Theory to Shape Strategy* - Kotler & Keller, Chapter 4

     **Nov 6 - Product Computron - Computron

    Analyzing the 3C’s tells the firm what its opportunities are and provides the basis on which the firm can design strategy and

    tactics to exploit those opportunities. In the next four sessions we examine the four marketing levers that the firm can pull as it tries to exploit its opportunities the 4P’s. **Nov 9 - Mid-term quiz (in Unilever - Unilever Ice-Cream *Ice-cream class) - Kotler & Keller, pp. 407 413 *- Customer Adoption of Really New Products * - Turn Customer Input into Innovation

     **Nov 13 - Promotion/Branding Real - Real Madrid Club De Futbol ***Madrid - Group Hand-in Assignment 2 *- Kotler & Keller, Chapter 19

     **Nov 16 - Promotion Nectar - Nectar: Making Loyalty Pay **Nov 20 - Distribution Amazon & - Amazon & Free-Markets Online * Free-- Kotler & Keller, Chapter 17

    Markets

    Online

    Nov 23 Thanksgiving Break **Nov 27 - Pricing Medicines - Medicines Company * - Kotler & Keller, pp. 470 495* - Managing Price, Gaining Profits

    In the final sessions we summarize and integrate the course. **Nov 30 Bitter Pill to Legg’s Legg’s

    Swallow *** Dec 4 - Course Summary John Deere - John Deere ***- Group Hand-in Assignment 3

    (note: this is an un-graded hand-in assignment)

    Legend: * recommended, but not required, reading;

     ** required reading;

    *** group written assignment

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