Class Syllabus - Department of Management and Marketing

Department of Management and Marketing

COURSE DESCRIPTION

This course will provide frameworks and tools to solve strategic-level marketing problems. Taking the perspective of a marketing manager or executive, the class will focus on marketing strategy design, implementation, and evaluation in order to maximize long-run customer value and generate the greatest financial return for the firm.

COURSE OBJECTIVES

The course is designed to integrate knowledge you acquired in previous marketing courses as well as coursework in other business and social science disciplines and develop skills in applying that knowledge to solving real-world marketing strategy problems. It will be conducted as an advanced level class for knowledgeable and highly motivated graduate students. This will be a great opportunity to refine and sharpen your knowledge of marketing concepts (by reading and discussing assigned readings) and marketing decision-making skills (by doing case analyses and a marketing simulation) before beginning to apply them in real-world jobs after graduation. To sharpen your teamwork and communication skills (in addition to written reports), this course involves group work, oral presentations, and a lot of classroom discussion and debate. After completing this course, you will have a better understanding of the dynamics and complexity of competitive strategy and be better prepared to fill managerial positions in business organizations or start your own business.

COURSE CONTENT

To achieve these objectives, we will use three basic approaches:

1. Theory and concepts: We will read about and discuss classic and emerging issues in marketing strategy. This material will be based on selected readings, including articles from the Harvard Business Review (HBR), Sloan Management Review (SMR), and other business publications.

2. Case analyses: To learn to apply these concepts in a variety of business situations, we will analyze, discuss, and prepare recommendations for several real-world marketing cases.

3. Simulation: A major component of the course will be the "Markstrat" marketing strategy simulation game. MarkStrat is a dynamic marketing simulation that is used by most top business school programs. Markstrat provides a "hands-on" opportunity to learn by engaging in realistic strategic decision-making in a dynamic competitive context. This simulation will allow you to practice managing all aspects of marketing strategy, including product and brand portfolio, product design, distribution, pricing, advertising, and sales force management as well as how to respond to changing customers' needs and competitive actions over time. Performance will be assessed through a series of marketing planning activities and firm financial performance relative to other firms.

METHOD OF INSTRUCTION

My teaching philosophy is that learning is best done actively, not passively. It is something that YOU do (by working on your own, together with classmates, or with the professor), not something that is done to you. For my part, instruction in the course will rely primarily on discussion, lectures, readings, and cases. But the learning that occurs - what you eventually take away from the course - is a function of what you put into the course. Active involvement through participation in class is essential for you, and your classmates, to get the maximum benefit from this course. My goal is to challenge you to learn as much as you can about market strategy.

COURSE OVERVIEW

The course is organized around the problems faced by businesses in the competitive market environment. It covers the following areas:

1. The role of market strategy in building and maintaining competitive strategy

2. Building the long-term profitable customer relationship

3. Going to market -- Developing competitive marketing strategy (implementing the marketing mix)

4. Market dynamics - Market strategies under uncertainty

READING MATERIALS

Larreche, Gatignon, & Triolet, MARKSTRAT ONLINE: Participant Handbook 2010 (For detailed order information, please go to http://www.markstrat.com/home.aspx)

Cases and Readings (available on D2L)

COURSE COMPONENTS

* Readings. Every week, we will read about three articles and discuss them in the class. Students are expected to come prepared to meaningfully contribute to the class discussions.

* Case Analyses. The class will be divided into FIVE teams for the case analyses (Ten cases). You are expected to form your own teams; however, I may change team compositions if it becomes necessary. A copy of a double-spaced, typewritten case analysis (maximum 5 pages excluding tables, exhibits, etc.) is due one day before the date of case presentation (6:00PM, Tuesday). The assignment grade will be based on the quality of the case analysis (clarity, readability, neatness, persuasiveness, grammar, spelling, etc.). Late assignments will not be accepted.

* Team Case Presentations. Each team will do TWO case presentations (30 minutes max.) in the class and answer questions (please see schedule). Please prepare your slides accordingly and make sure that you finish your presentation in the allotted time. An interactive discussion will be followed after the case presentation. Each team should email me the power point slides before the presentation. It is especially important to attend the presentation of other teams.

* MARKSTRAT. MarkStrat is a computer-based simulation game that allows you to practice the strategic marketing concepts and skills learned during the course in a virtual marketplace. During a nine-week period, your study group will be competing with other groups for nine decision cycles, during which you will analyze market research in real time, formulate and revise your marketing strategy (segmentation, targeting, positioning), make tactical marketing decisions (e.g., brand portfolio, product design, pricing, distribution, and marketing communication), and learn from the reactions of the market.

The class will be divided into FIVE teams for the MARKSTRAT simulation. Each team will assume the role of the top management of a firm in the computer simulated industrial environment