1 MARKETING MANAGEMENT MKTG 606.01 Spring Semester 2008 Module 1: January 14 – February 29 Meeting: Thursday 6:30-9:20PM 206 Bryan Building Professor: Dr. M. Griffiths Office: 350 Bryan Phone: 334-3094 (Office) (email preferred) E-mail: Magriff3@uncg.edu Office Hours: Tuesdays & Thursdays 3:30-5:00 and by appointment Course Documents: http://blackboard.uncg.edu REQUIRED MATERIALS 1. Marketing Management, 12th edition, by Kotler/Keller, Prentice-Hall 2006, ISBN 0-13-145757-8 2. Additional readings, cases and lecture notes are distributed through Blackboard. NATURE AND PURPOSE OF THE COURSE "Whatever be the detail with which you cram your student, the chance of his meeting in after-life exactly that detail is almost infinitesimal; and if he does meet it, he will probably have forgotten what you taught him about it. The really useful training yields a comprehension of a few general principles with a thorough grounding in the way they apply to a variety of concrete details. In subsequent practice the (students) will have forgotten your particular details; but they will remember by an unconscious common sense how to apply principles to immediate circumstances." -- Alfred Whitehead, The Aims of Education and Other Essays. Marketing is not just selling or advertising. It is a rigorous, disciplined science that applies a reasoned framework to the selection of target markets and the optimization of marketing decisions. This course focuses on formulating and implementing marketing management strategies and policies, a task undertaken in most companies at the strategic business unit level. It aims to provide future managers with the frameworks, knowledge, and sensitivities to develop an effective marketing plan and with the functional tools to implement the plan. The marketing management process is important at all levels of the organization, regardless of the title applied to the activity. Typically, it is called corporate marketing, strategic marketing, or marketing management. Keep in mind that effective marketing management results not only from simply internalizing marketing facts and institutional detail, but also from systematic critical thinking and the reasoned application of several general principles. With this in mind, the objectives are as follows: Course Objectives: 1) Increase your understanding of the important issues in planning and evaluating marketing programs through elements of marketing analysis. 2) Provide you with the skills necessary to prioritize these issues as well as to develop compelling and creative strategies for solving these issues. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 2 3) Introduce you to appropriate theories, frameworks and other tools for understanding, dissecting and improving marketing programs. 4) Provide you with a managerial perspective on creating positive, memorable consumption experiences through an integrated marketing program. COURSE DESIGN The course is designed as an introductory survey of marketing topics that will introduce you to the theories, terminology and frameworks of marketing. The course has two parts: a tactical portion and a strategic portion. Strategic portion: The strategic portion focuses on identifying organizational competencies and using these competencies to analyze industries and identify target markets. Tactical portion: The tactical portion of the course reviews the methods that firms can use to optimize their profits in the markets that they choose to target. Topics covered in the tactical portion include pricing, promotion, distribution and product issues. Class Format: The class consists of a mix of lecture, case analysis and experiential assignments. Lecture: Notes for each lecture are posted on blackboard in pdf format only. The content reflects key concepts you should be most familiar with. These slides differ from those presented in class only in the varied examples used to increase your understanding of key frameworks. Cases: Examples of a particular marketing issue or strategy in the form of cases of reveal real world situations. In discussing these cases, the nuances involved in the decisions, tactics and market environment are brought to light and the applicability of the concepts and frameworks from the text and lecture are amplified. I chose cases that are relevant (i.e., fit the pedagogical objectives of the course), interesting (i.e., topical), or both. Some of the cases appear to be far-removed from problems pertinent to your particular industry experience, but in general, the lessons to be learned from the cases are universally relevant and transcend particular situations and time. Experiential Assignments: Individual and group assignments completed both in and out of class to solidify your understanding, and demonstrate practice and applicability of key frameworks. Class Discussion: The benefit that you will derive from the course will depend upon the extent to which you expose your own viewpoints or conclusions to the critical judgment of the class. You should view class participation both as an opportunity to ask questions to enhance your understanding, as well as an opportunity to suggest examples that demonstrate your understanding of the material. It is imperative that you read all of the material to be discussed and come to class with a series of comments that you think will be interesting to the class. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 3 ASSESSMENT & DETAILS The final grade will be based on the following: ACTIVITIES PERCENTAGES Class Participation (includes contribution to class discussion, experiential assignments, and current events) Individual Case Analysis Comprehension Check Exams Group Project Presentation and Paper Peer evaluation of contribution to the project’s success 20% 20% 20% 40% Grading Scale A AB+ B BC+ C CD F 93-100 90-92 88-89 83-87 80-82 78-79 73-77 70-72 60-69 Below 60 Note: Grades are non-negotiable and final grades can only be changed to correct calculation or input errors on my part. If you have questions as to the validity of a grade this must be brought to my attention in writing within one (1) week of the day/date the grade is posted. Grades WILL NOT be determined by a standard bell curve whereby the majority of the class receives a ‘C’ and the minority receives otherwise. Rather, grades will strictly depend on the number of points accumulated relative to the total number of points allotted in the course. **Note: All submitted work may be checked for plagiarism. To avoid discrepancies, be sure to cite appropriately works of others that you are referencing. For details on what constitutes plagiarism, please visit http://academicintegrity.uncg.edu/ Dr. M. Griffiths MBA 606.01 S-08 Syllabus 4 Class Participation (20%) Each student must be prepared at all times to comment in any class session. To reinforce this expectation, I may randomly select students at the beginning of the session and throughout the ensuing discussion (whether or not the student’s hand is raised). Grading class participation is necessarily subjective. Some of the criteria for evaluating effective class participation include: 1. Is the participant prepared, and do his/her comments show evidence of analysis of the case/article/readings, thereby adding to the group’s understanding of the situation/content/concepts? Does the participant go beyond simple repetition of case/article/readings facts without analysis and conclusions? Do comments show an understanding of theories, concepts, analytical devices presented in class lectures or reading materials? 2. Is the participant a good listener? Are the points made relevant to the discussion? Are they linked to the comments of others? Is the participant willing to interact with other class members? 3. Is the participant an effective communicator? Are concepts presented in a concise and convincing fashion? Current Events: Scanning the environment, you will soon identify changes in current marketplace conditions. Each weak you can choose to present an article, ad, news release, etc from any current publication or credible internet source. The topic should coincide with the topics for the class period. These discussions will increase your knowledge and fuel your selection for your marketing project. Turn in a copy of the item with a short summary of the issue/relevance. Individual Case Analysis: (15%) Each student will create a written analysis of the assigned case. The analysis must be typed (12 point font, double spaced, 10 page maximum). Completed case analysis can be submitted at anytime during the course, but no later than week 5, February 14th. See case analysis document on blackboard for guidance on how to prepare an analysis. Exam: (20%) The objective of the exam is to ensure that you understand the core concepts. The exam may consist of any of the following types of questions; true/false, multiple choice, short answer and essay. I design exams to include 50-80% of material from the textbook and lectures. Therefore, if you do not read the book, it will be difficult to pass the exam and subsequently, the class. Be aware that I choose questions that are essentially of two types: (1) purely informational questions and (2) diagnostic questions. The purely informational questions require less thought, as they merely test your exposure to, and memory of the material. Diagnostic questions, however, often cause some degree of discomfort for those who are not accustomed to them. Their purpose is to determine whether you have learned the material adequately to be able to recognize its applicability in a given situation. These questions ask you to search your memory banks to determine what you have learned that is useful and appropriate to apply to the situation with which you are faced. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 5 Marketing Group Project: (40%) Equally important to the learning process is to apply what we have learned in a real world setting. To accomplish this, students will work in four to five person teams on a marketing project. A final report is due at the end of Session 7. The maximum length is 19 pages of text (double spaced, 12-point font) not including tables and appendices. To be fair to all groups, I will not read beyond that point. 1. Groups will be formed and posted on blackboard before the first class meeting. 2. E-mail to me a 1-2 page progress report by 11:59pm on Wednesday, January 30th indicating your final selection, the topics you will address, and the sources you plan to use. Please identify your group by designated number, and include the names of the team members. Marketing Group Project Description The goal of the project is to plan an integrated marketing program for a brand/product of your choice. Your group should choose a small, well-defined project and the work effort should emphasize quality over volume. The task ahead is the following. a. Identify an existing product/brand issue being faced by a firm. Completely analyze the brand/product, focusing your analysis on marketing concepts and issues covered in this class (e.g., customer, competitor, industry, technology, government, product (features), pricing, distribution (incl. sales force), advertising, sales promotion and analyses), which you feel are important in explaining the issues involved and the differences between the brand/product you have chosen and its competitors. Clearly outline your assumptions and thought processes. b. Suggest actions and strategies (on each issue), which you feel would enable the product/brand to improve its market position. Clearly outline your assumptions and thinking. Your selection of a product/brand will have to be approved by the instructor, although you will be given considerable freedom to follow your own interests. Since the project will require a significant amount of time and effort, it is important that you select companies with products/brands in which you are personally very interested. Some suggestions to increase the probability of generating a very good project are: 1. Start early – today! 2. Define the industry, company, product/brand carefully. Don’t designate the industry as all restaurants, and then compare McDonald’s to The Chop House. If you decide to pick two large companies, such as IBM and HP, carefully constrain the product class, e.g., laptops, so as to avoid a mega-corporation analysis. 3. Attempt to develop some structure before you go about collecting information. Be flexible in your sources of information. Discussions with key executives, current and potential customers, competitors, published information from public sources and the company, personal observations, etc. are all feasible options. As you can tell, this type of project is a major undertaking, and cannot be meaningfully churned out in the last week of class. Be cognizant of the calendar; recognize that data collection and analysis requires plenty of time. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 6 Since we meet in only 7 sessions, communicating/meeting with your group members outside of class may require extensive use of technology. This is strongly recommended. *The last 20 minutes of each class will be reserved for your group to meet. If there are questions regarding the project, come see me early. Don’t wait until the last week when it’s too late to seek help. Marketing Group Presentation 1. 2. 3. 4. 5. 6. PowerPoint slides or overheads. One (1) hard copy of presentation slides or overheads for instructor. One (1) hard copy of the final report. Present your project in 20 minutes in class (all team members must present) All students must be present in class for each group’s presentation. Marketing is both art and science…Be creative!!!! Consider using visuals (i.e., props, mock-ups, or actual products) as part of your demonstration/presentation. Final Report Format Your report must be concise but comprehensive. Refer to the Appendix, pages A1-A15 in the text for organizing your report, proper headings and content. At minimum, your report must include: A title page identifying the members of the marketing team, product/brand and/or company name. Overview of the company’s mission Value proposition and existing marketing mix Description of the issue and marketing strategy. Brand/product analysis Situation Analysis SWOT Analysis Competition Recommendation (including but not limited to; marketing strategy, target markets and segments, 4p’s and 4c’s, integrated marketing communications) Contribution of Marketing Group Members The business workplace is a social environment where you must work with others to achieve the goals and objectives of the entire organization. Therefore, 50% of an individual’s group project grade will be based on the work produced. In other words, 50% of YOUR project grade is in the hands of your peers. Peer Evaluation: Each member of the marketing project teams will provide evaluative feedback on the performance of each individual group member. You will give yourself a rating and provide comments on the contributions each member (including yourself) made toward the successful completion of the project. The ratings provided by each group member will be taken into account in the final calculation of the individual’s total class participation. The onus is on you to contribute 100% toward the success of the project and to work well with your team members. A peer evaluation form will be made available via blackboard to each student in each group before the last day of class. Each student will award from 0 to 100 points for each member's efforts on the project and the sum will be averaged. In addition, you will have an opportunity to comment on the quality of each team member’s contribution to the successful completion of the project. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 7 Group Presentation Rubric Group presentations will be graded based upon the following set of criteria: Content Included here is whether the group has substantially and fully examined and identified the issues, problems, and understands the key differences between the product/brand and existing competitors. Has the group presented realistic alternatives, realistic objectives, and sound implementation strategies. Presentation Included here are the layout, content, and readability of the slides or other forms for electronically presenting the material. This encompasses the applicable slides, a situation analysis, problem definitions, alternatives, and recommendations. Also taken into account is the professionalism of the presenters. Completeness Included here; the correctness of answering questions from the instructor and/or audience members. Also includes preparation by the student members, all of the relevant facts, figures, assumptions, recommendations, and strategies of the group. Classroom Conduct We subscribe to the UNCG professional standards. Please arrive on time for class with uninterrupted attendance for the duration of the class. I will endeavor to end class on time. Furthermore, please maintain a professional atmosphere. This includes, but is not limited to, using respectful comments and humor, employing appropriate manners and decorum, utilizing computers and technology suitably (e.g., silencing wireless devices, no web-browsing or emailing), and refraining from distracting or disrespectful activities (e.g., avoiding side conversations and games). Refer to the following for more details on school policies and procedures: http://www.uncg.edu/bae/faculty_student_guidelines.pdf Absence: If you miss more than 1 class in a 7-week session, you should not expect to receive a passing grade. If you must miss a class, the onus is on you to connect with your classmates to get up to speed on the material covered, handouts, etc. *****The instructor reserves the right to make changes to this document as needed.***** Note that occasionally, changes in the schedule of the course, or in the assignments, are announced during class. Equally, materials may be added to increase your knowledge and efficiency in a particular subject area, as well as articles to read in preparation for the next class. It is your responsibility to connect with your classmates to ensure that you have received all of the changes, handouts, etc. Academic Integrity: Students are expected to recognize their responsibility to uphold the Academic Integrity Policies of UNCG. Failure to do so will result in Academic Integrity Sanctions as stipulated by the university. You are encouraged to review these policies at http://academicintegrity.uncg.edu/. Inclement Weather: We will follow the directions of the institution. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 8 MARKETING MANAGEMENT – 606.01 Course Schedule and Reading Assignments Session 1 Date 1/17 Topics Understanding marketing management Dynamics of marketing strategies Readings/Class Preparation Chapter 1 Chapter 2 2 1/24 Environmental scanning Marketing research Creating customer value Chapter 3 Chapter 4 Chapter 5 3 1/31 Chapter 6 Chapter 8 4 2/7 Understanding consumer and business markets Segmentation and targeting Understanding Branding: Equity and Positioning Knowing the Competition Chapter 9 Chapter 10 Chapter 11 5 2/14 Products, Services and Pricing strategies Chapter 12 Chapter 13 Chapter 14 6 2/21 Marketing Communications Tapping into Global Markets Chapter 17 Chapter 18 Chapter 21 7 2/28 Marketing Project Group Presentations Class Activities Personal information form Introductions Syllabus & overview of the course Lecture 1 Case: Build-A-Bear: Build-A-Memory Marketing Groups & Project Lecture 2 Case: Enterprise Rent-A-Car ***MARKETING PROJECT PROGRESS REPORT DUE 1/30 BY 11:59PM Lecture 3 Case: Saturn: An Image Makeover Lecture 4 ***COMPREHENSION CHECK: EXAM (6:30PM) CH. 1-8 Lecture 5 Case: Exxon Mobil: Achieving Big Profits During Hard Times ***INDIVIDUAL CASE ANALYSIS DUE Dr. M. Griffiths ***COMPREHENSION CHECK: EXAM (6:30PM) CH. 9-14 Lecture 6 Case: Wal-Mart Takes On the World Article: Integrated Marketing Communications: An Effective, Comprehensive Approach 20 min presentation and Q&A each team. Each team member must present. MBA 606.01 S-08 Syllabus 9 1. 1/17 MARKETING MANAGEMENT 606.01 CASES, DUE DATES AND TEAMS LEADING THE DISCUSSION Case: Build-A-Bear www.buildabear.com *** Please Read This Case in preparation for our first class Team: Professor 2. 1/24 Case: Enterprise Rent-A-Car www.Enterprise.com Team: E-1 3. 2/7 Case: Saturn: An Image Makeover www.Saturn.com Team: E-2 4. 2/14 Case: Exxon Mobil www.exxonmobil.com Team: E-3 5. 2/21 Case: Wal-Mart Takes On the World www.walmart.com Team: E-4 Instructions: 1. Read the case 2. Answer the questions at the end of the case. 3. Extend beyond the case content. Based on the information provided on the company’s website, re-examine the questions keeping in mind the concepts discussed in the chapter. 4. Also consider the following: a. Describe the company’s competitive advantage. b. How does the company’s website support this competitive advantage? c. Perform a preliminary SWOT analysis. d. Identify the target markets. e. What issues exists for the company/brand/product? 5. Lead the class discussion: a. Give an overview of the issues involved in the case b. Discuss your findings relative to the questions posed and the additional information gathered from the website. c. Engage the class by posing thought provoking questions. Dr. M. Griffiths MBA 606.01 S-08 Syllabus 10 ♦ MBA 606.01 ♦ Marketing Management ♦ Group Project Team Members Group E-1 1. Cho, Soo Eun 2. Lacey, Jeffrey 3. Queen, Scott 4. Silkstone, Jeffrey Dr. M. Griffiths Group E-2 1. Cooke, Carroll 2. Moody, Rachel 3. Reynolds, James 4. Upper, George Group E-3 1. DuBois, Scott 2. Nath, Anupam 3. Robbins, Stacey 4. Vallas, Marion Group E-4 1. Engle, Zachary 2. Overman, Barrett 3. Scales, Ervina 4. Williams, Susan MBA 606.01 S-08 Syllabus