İSTANBUL TECHNICAL UNIVERSITY FBE –MARKETING MANAGEMENT Fall 2009 12670 ISS 509E Assist. Prof. Dr. Elif Karaosmanoğlu Email: karaosman5@itu.edu.tr Office Hours: Monday 13:00-15:00 You can contact Res. Assist. Canan Aktan aktan@itu.edu.tr if you cannot reach me. REQUIRED TEXTBOOK: Kotler & Keller, Marketing Management, 13th ed., Pearson Prentice Hall, 2009. To enhance your professionalism and marketing perspective, it is recommended that you read business newspapers and magazines, such as the Wall Street Journal, Business Week, Fortune, Marketing Turkiye and Kapital etc….. Communication - I will use Ninova website of ITU. You need to have an ITU email address and check with the IT services if you have any difficulties to use the site. You may form your e-mail group to post messages, to send reminders, and to relay answers to questions that you may have between class meetings. COURSE DESCRIPTION: This course covers concepts, activities, and techniques related to the planning and coordination of marketing functions, marketing policies, and the analysis of marketing administration. COURSE OBJECTIVES: 1. 2. 3. 4. 5. 6. 7. 8. 9. Develop an understanding of the basic concepts and issues in marketing, including the creation of value through the integrated production and distribution of goods and services and the global, political, economic, legal, and regulatory context for business; Build a working marketing vocabulary such that you are better able to understand and discuss marketing concepts in business setting; Develop an appreciation for the inherently strategic nature of contemporary marketing and for the role marketing plays in business strategy and performance; Enhance your understanding of what marketing managers actually do on a day-to-day basis by taking on the role of marketing manager for an existing product/service; Strengthen your ability to justify and support your decisions through information acquisition and management; Extend your ability to write clearly, listen carefully, and report information in a professional and effective manner; Learn how to effectively work with others with an understanding of individual and group dynamics in organizations; Strengthen your appreciation for how marketing relates to complementary business functions (e.g., human resource management, accounting, production, etc…); and Understand the ethical and social responsibilities of marketing management in organizations and society. 1 SKILLS YOU ARE EXPECTED TO BRING INTO THIS COURSE: 1. Written and oral communication skills necessary for achieving graduate status; 2. General understanding of the business and economic environment, finance, accounting, statistics, and information technology; 3. Ability to analyze and use library materials, reference resources, and research reports; and 4. Teamwork skills. POLICIES: INSTRUCTIONAL METHODOLOGY: 1. Professional lectures; 2. Discussion of assigned CASES ; 3. In-class exercises, both group and individual; 4. Student written and oral presentations; 5. Classroom participation; and 6. Group Project 7. Take home midterm and in–class final exam. GRADE EVALUATION: Marketing Plan Team Project Personal Assignment Examinations (Midterm & Final Exam) Case Presentations TOTAL: 20% 15% 45% 20% 100% ATTENDANCE: You are expected to not only attend, but to actively contribute to the learning experience of the class. Poor attendance can significantly hurt your overall class participation grade. 1-EXAMINATIONS (45%) There are two examinations based on the textbook, class lecture material, and the marketing plan project. You are responsible for all assigned reading, even if the instructor does not cover it in class. No make-up exams are given. Exam 1 (mid-term) is a take-home exam and Exam 2 (final exam) is an in-class exam. To prepare for the exams, take an action-oriented and repetitive approach (outline chapters as you read; rewrite major concepts as you study). Exams are graded for level of quality in responses, including the use of appropriate marketing language and relevant practical example. MAKE-UP AND LATE WORK POLICY: Be sure to allow adequate time to solve unanticipated problems with respect to deadlines. Submissions turned in late during class or within 24 hours of the deadline will receive half credit. Submissions more than 24 hours late will not be accepted. Exceptions to this policy may be granted for emergencies. 2 2-CASE DISCUSSIONS (20%) The business community considers case analysis and discussion valuable learning tools. Since you have done some case analysis in other courses, you should not have trouble with the assignments. Please do not come to class just to listen. Come ready to contribute. Every case leaves us with options. In order to generate interesting class discussions, we need people to take opposing sides, and keep others honest by asking the right questions. Strong assertions (i.e., “Industrial equipment customers don’t care about brand.”) need to be supported by as many facts as the case provides. Supporters or detractors of such assertions need to articulate their rationale clearly and effectively. This is what I mean by being prepared. To that end, ONE GROUP will be assigned the role of “devil’s advocates” for most cases, and a different GROUP will be expected to serve as the primary “spokespersons” for the case discussion. NOTE: UNASSIGNED PEOPLE SHOULD PICK ONE OF THE TWO POSITIONS AND CONTRIBUTE ALSO. Having spokespersons and devil’s advocates does not absolve the rest of the class from preparing the case, but it places responsibility on some to prepare extra well. 3- INDIVIDUAL ASSIGNMENTS (15 %) You have an option of choosing ONE of the following assignments as your first assignment. These assignments are INDIVIDUAL work. All assignments must be professionally done, typed double-spaced in 11 or 12-pt. font and should not exceed the page limit assigned. The page limit does not include the cover page, table of contents and appendices. The report is due at the beginning of class on the due date. Refer to the "Schedule" for Due Dates. There is a 5-point penalty per day for late work. Assignment 1: Either Option 1 or 2 …. Option 1: Competitive Analysis This involves developing a competitive analysis between two (2) companies in an industry. Pick an industry (based on your interest and/or information availability). Within this industry, choose two companies such that: A company which is doing well, and A company which is not doing as well as above. (Your selection of two companies will have to be approved by me, 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 in which you are personally very interested.) The task is to: Completely analyze and compare these two businesses with regard to their marketing practices. In particular, you should focus on the analysis of marketing issues (e.g., customer, competitor, 3 industry, technology, government, self, product (features), pricing, advertising, sales promotions, which you feel are important in explaining the differences between the performance of two companies. Non-marketing reasons should be briefly mentioned. Of course, you will only focus on the particular issues which are important for explaining the differences in performance between the companies you have chosen. Suggest actions and strategies (on each issue), which you feel would enable the weaker and stronger company to improve its market position. Clearly outline your assumptions and thought process. In grading the report, I will use the creativity/originality and clarity of exposition, depth and breadth of research as the criteria. The deliverable is a 10-page clear, concise, and persuasive report. Option 2: Segmentation and Positioning This assignment intends to provide you with an in-depth understanding of the Segmentation, Target market and Positioning (STP) practice. The object of your analysis will be studying the STP practice in any Industry of your choice. Collect information on the following: 1. Overview of the Industry: How is it structured? Different "categories" of players in the industry. 2. How does each of these players segment the marketplace? (Process of Segmentation). What segmentation variables do they employ? 3. What market /customer segments does the company pursue? (Choice of target market) Why? List the factors (in order of preference) that the company uses in selecting the Target Market. 4. How do the companies "position" their offerings to their target segments? How do they match the product/service characteristics with that of the target markets? Prepare a 10-page report on the key findings of your STP analysis. Reports earning a grade of A must include evidence of background reading (textbook, reference material, lecture notes etc) on the topic. 4 COURSE SCHEDULE WEEK 1 01/10 2 08/10 LECTURES Chapter 1- Defining Marketing for the 21st Century Chapter 2- Developing Marketing Strategies and Plans 3 15/10 No class 4 22/10 Chapter 3- Gathering Information and Scanning the Environment Chapter 4- Conducting Marketing Research and Forecasting Demand 5 29/10 Republic Day 6 05/11 Chapter 5&6 - Analyzing Consumer Markets Chapter 7 - Analyzing Business Markets Chapter 8 - Identifying Market Segments and Targets 7 12/11 Chapter 9 - Creating Brand Equity Chapter 10- Crafting the Brand Positioning 8 19/11 9 26/11 Chapter 11 – Dealing with the Competition Chapter 12 - Setting Product Strategy Case 1 - Marvel Enterprises, Inc. Göksu&Anıl Case 2 – Dell – Elif&Duygu Case 3 - Apple – Ersin&Umut Case 4 - McKinsey – Barış&Mithat Case 5 – Starbucks – Cihan&Yelda Individual Assignment #1 due Case 6 - Adidas - Kadir&Sezgin Doctoral Presentation Mid-term due ON THE 25th OF NOVEMBER Kurban Bayramı 10 03/12 Chapter 13 - Designing and Managing Services 11 10/12 Chapter 14 - Developing Pricing Strategies and Programs Chapter 15 – Distribution 12 17/12 CASES & ASSIGNMENTS Chapter 16 - Retailing ,Wholesaling and Logistics Case 7 – Eastman Kodak – Anna&Damla Case 8 - Heineken N.V.: Global Branding and Advertising – Oğuzhan&Erman Doctoral Presentation Case 9 – Cola Wars – Sarper&Emre Case 10 - Zara – Burak&Billur&Burcu Case 11 - Google – Eren&Özgün Case 12 - Walt Disney – Cansu&Yağmur&Gonca 13 24/12 Chapter 17 - Designing and Managing Integrated Marketing Communications Chapter 18 - Managing Mass Communications: Advertising, Sales Promotions, Events, and Public Relations Case 13 - 7-Eleven – Esma&Manolya Individual Assignment #2 due 14 31/12 Marketing Plan Presentations Teams present marketing plans (15 minutes each) 5 Assignment 2: MUST ASSIGNMENT Personal Marketing Plan: The Brand Called You You will be developing a written marketing strategy designed to facilitate your reflective thinking, professional development and career strategy. Worksheets from your professor support this assignment. This project focuses on your professional goals, by developing your own marketing strategy for securing a new position or advancing your career. All assignments and the marketing plan must be computer generated (double-spaced, 12 pt. font, with one-inch margin on all sides). Correct grammar, spelling, sentence structure, and word selection are required. If you need any assistance, please contact the Writing Center at the Social Sciences Institute. The center offers a developmental and word processing experts. DEVELOPING YOUR MARKETING STRATEGY I. II. III. IV. V. VI. Introduction (how paper is organized, why assignment is important to you) Situation Analysis (significant life events, accomplishments, SWOT of self) Objectives (“To have a job in six months” “To make $65,000 a year” “To work in Atlanta, GA” “To enjoy my co-workers”) Target Market (What position and new experiences am I seeking? Where do I fit?) Profession type Skills and interests required by position Industry and organization type Corporate culture and people factor (independence, structure) Positioning and Core Strategy description (unique characteristics that differentiate you from competitors; your brand statement) Marketing Mix chart (improvements on product to reach target market, then place, price, promotion tactics) A. Product (Who am I? What makes me different?) Likes and dislikes Strengths and weaknesses Features and benefits Product positioning (relative to colleagues and competition) Expertise, credibility, trustworthiness Degrees, work experience, leadership activities, memberships B. Price (what is my value to an employing organization? How much can I be compensated? How much do I want or need?) Salary and total compensation package Brand value and equity Negotiations with the prospective employer Relative product quality and relationship to compensation package Psychological and social rewards C. Promotion (How do I enhance my visibility? How will I communicate with potential employers?) Persistence and motivation Resume 6 Networking New projects and connections D. Distribution/Place (Where can I find this position? Where do I want to be? Where will I be happiest?) Geographical location City or Suburb Type of place – large corporation, own business, etc… VII. Action plan (timeline) and any Appendices (resume, cover letter, portfolio) These are basic guidelines for your marketing strategy. I encourage you to be creative and use this process to develop your unique plan for reaching career goals. 4-FINAL PROJECT - Marketing Plan Team Project (20%) Critical Thinking: This project will require that each participant and each team assume the role of “marketing manager” for one real-life product or service. The marketing plan team project is analytically challenging, requires creativity, and facilitates improvements in oral and written communication skills. Most marketing managers are highly skilled MBAs who are responsible for overseeing one product or product line. In this regard, they make a variety of marketing decisions, including those that focus on product issues (e.g., development, extension, and deletion), pricing strategies (e.g., cost-based, demand-based, prestige), integrated marketing communications/promotion programs (e.g., advertising, personal selling, sales promotion, publics relations etc.), and distribution channel/supply chain management matters (e.g., intensity of market coverage, vertical marketing system structure). The marketing manager makes these decisions within the context of ethical, global, political, social, legal and regulatory, environmental, technological and competitive factors. Written and Oral Communication: In small groups of four people (the number may change according to class size), marketing management teams will write a comprehensive marketing plan and prepare professional presentations with MS PowerPoint. Writing and presenting marketing plans provide an opportunity to showcase your hard work, creative ideas, and marketing knowledge to peers and the instructor. Teamwork: The success of your team will greatly depend on the ability of the team members to work together. Working well as a team requires that each member learns to cope with different personalities of the other team members. A strong team does not let differences in schedules, age, gender, or experiences interfere with their performance. If a team member does not carry his or her share of the work, that individual should be warned of the need for improvement. I should be considered an ex officio member of each group and kept apprised of developments, especially when the team is approaching the decision to remove a team member for non-performance. Team project scores may be adjusted for peer evaluations, so please ensure your strong commitment, participation, and contribution to all team assignments. You will be providing feedback on team members’ relative contributions and efforts. If an individual member’s contribution averages less than 90 percent, then he or she will receive that percentage of the team’s grade. Members whose overall assessments total 90 percent or higher will receive the team’s grade. 7 Information Technology & Research: All data sources, including interviews, websites, company reports, magazine articles, and others, must be referenced in the written report. Any material taken directly from another source must be placed in “quotes” or properly reworded and sourced. The failure to give full credit can be grounds for plagiarism. ACADEMIC HONESTY: Submission of any work for a grade for which unauthorized help has been received is termed academic dishonesty and will be grounds for a failing grade in the course. "Unauthorized" is a term used here to designate stealing, copying (with or without permission), collaboration with other individuals or sharing programming code outside of sanctioned group activities. Students are strongly encouraged to refer to the BU student handbook for policies related to academic dishonesty. CLASSROOM CIVILITY: Classroom professionalism and civility are to be maintained at all times. To create an environment that is conducive for teaching and learning, appropriate social conduct is required. Pagers and cellular phones are to be turned off or set to vibrate. MARKETING PLAN PROJECT: The course is designed so class topics and discussions are directly tied to the marketing plan project. Sample plans and marketing plan worksheets are available. Students are required to plan and write a marketing management project and present their findings in a formal report. Presenting Your Marketing Plan The following outline is a guide for developing the oral presentation for your marketing plan. Please present the information in a succinct, persuasive and enthusiastic manner. 1. Most Relevant External, Internal and SWOT Factors (4-5 points total) 2. Goals and Objectives for Marketing Strategy (use chart for presentation) a. Qualitative Goals b. Quantitative Objectives c. Justification (very important to show integration) 3. Marketing Strategy and Tactics, Recommendations a. Describe Customer Group for this Strategy b. Benefits Sought by this Customer Group c. Internal Theme of the Marketing Strategy (helps audience remember key points) 4. Elements of the Marketing Strategy (use a chart) a. Product (new, maintain) b. Pricing (new, maintain) c. Placement and Distribution (new, maintain) d. Promotion and Communication (new, maintain) 5. Integration of Strategy (how 4 Ps work together; reinforce theme; “sell” it to audience).COURSE OUTLINE 8 Some Academic Journals: Academy of Management Review Academy of Management Journal Strategic Management Journal Journal of Management Information Systems Journal of Management Research Journal of Management Science Journal of Management Studies Journal of Manufacturing Technology Management Journal of Marketing Journal of Marketing Research Journal of Consumer Research Journal of Retailing Journal of the Academy of Marketing Science Journal of Business Research Journal of Advertising Journal of Advertising Research Journal of Personal Selling and Sales Management Journal of Public Policy and Marketing Journal of Applied Psychology Psychology and Marketing Journal of International Business Studies Industrial Marketing Management Journal of International Marketing Journal of Services Marketing International Journal of Research in Marketing Journal of Consumer Psychology Journal of Marketing Theory and Practice European Journal of Marketing Journal of Health Care Marketing Journal of Product Innovation Management Journal of Business and Industrial Marketing Journal of Business Ethics Journal of Business Logistics Journal of Personal Selling and Sales Management Advances in Consumer Research Marketing Intelligence and Planning Journal of Services Marketing Journal of Business Logistics Journal of Operations Management 9