1 BADM 652-7D3: Marketing Strategy (Fall 2015) INSTRUCTOR: PHONE: E-MAIL: OFFICE: OFFICE HOURS: CLASS: Michael F. Walsh, PhD 412-496-9697 michael.walsh@mail.wvu.edu 201 B&E Tuesday and Thursday 9-10 AM Tuesday 4:00-6:50 PM @ Pratt & Whitney GENERAL COURSE INFORMATION Course Description: This course provides you with an overview of the marketing discipline and applies/extends this understanding through several class assignments and case analysis. Specific emphasis is placed on gaining an understanding of marketing strategy, consumer behavior, market segmentation and product positioning, product planning, promotion, distribution and pricing. Primary emphasis is placed on developing an understanding of central marketing concepts and applying them to “real world” problems. Class Objectives Upon completing this course, the student will be able to: 1. Identify and use marketing concepts to facilitate exchange 2. Identify and describe the key components of a marketing strategy given a particular situation. 3. Demonstrate the market segmentation process and describe the bases for segmenting business and consumer markets, selecting target markets and positioning strategies 4. Examine a marketing practice from several ethical perspectives. 5. Evaluate marketing estimates/forecasts. 6. Detail the important components of a customer service and customer satisfaction program using consumer behavior principles. 7. Describe the basic differences in product vs. services marketing. 8. Recognize the common channel structures and strategies, and the factors that influence their choice. 9. Identify the key pricing decisions to the individual firm and contrast individual pricing strategies 10. Explain the roles, goals and tasks of promotion Class Format: Class will include a combination of lecture, discussion, exercises and case analyses. 2 REQUIRED MATERIALS 1. The Marketing Plan Handbook, 5th edition, Marian Burk Wood. ISBN-13: 978-0-13-307835-0 2. Case Analysis - Harvard Business School Cases – Cases can be purchase as a packet from Harvard Business School for $23.80. You can access/pay for the materials at: https://cb.hbsp.harvard.edu/cbmp/access/38038257 (Note: you do NOT need to purchase the “optional” materials they are put there by Harvard. Just ignore. 3. Class Readings – Material is available in a reading file for each module posted on eCampus. Please read before the assigned clas. These readings go into much greater detail than the text does; however, the text was chosen because it provides an overview of the topics without being too expensive (e.g., one of the texts I was considering is $224). 4. Class Slides – please go to eCampus for each module’s slides STUDENT RESPONSIBILITIES Attendance: I will take attendance each class. If you are not present at the time I take role, and have not discuss your absence ahead of time, then you will be counted absent. 8 percentage points will be deducted from your final class percent for each class that is missed Exercises, Participation and Late Assignments: The student is expected to read all assigned materials prior to class. There are several in-class and out-of-class exercises applying the material. Because this is a condensed and fast-paced class, no late assignments can be accepted. If there are extenuating circumstances, the student (group) must make special arrangement with me prior to the due date of the assignment It is the student’s responsibility to submit professional homework assignments and papers. The quality expected is standard business quality (i.e., typed, no spelling or grammatical errors, logical). The student is also expected to fully participate as a group member on the case analysis. A peer evaluation will be completed at the end of the semester and WILL impact individual grades on the team projects (more later) 3 Class Conduct: Students are expected to behave professionally which at a minimum means: 1) Be on time for class. 2) Do not engage in disruptive behavior (including but not limited to private conversations, IM’ing, texting, and surfing the web). 3) Submit all assignments at the beginning of the class for which they are assigned. GRADING POLICY Final course grades will be assigned to each student at the end of the semester based on performance on the following assignments: Determination of Grades: Minimum of: Points Exams (2) 400 Case Analysis (5) 500 Class homework 100 TOTAL: 1000 Grading Scale: Grades will NOT be curved or rounded!!! A = 90% to 100% B = 80.0 % to 89.9% C = 70.0% to 79.9% D = 60.0% to 69.9% F = 59.9% and below Explanation of Each Component: Exams Two take home exam will be given worth 200 points each. Material for the exams will be taken from the text, lecture, and exercises. Case Analysis Five cases will be assigned for outside reading. Everyone should come prepared to discuss the cases. Cases done in you preassigned team. Each team is expected to submit a write up answering the case questions. Case questions are supplied at the end of the syllabus. 10% of the grade is for participation on the team assignments. 4 Assignments Each module has an assignment (sometimes more) associated with it that will help you apply the material in the module (Total 100 points). All assignments will be given a point value prior to the due date. MISCELLANEOUS INFORMATION Academic Dishonesty: The integrity of the classes offered by any academic institution solidifies the foundation of its mission and cannot be sacrificed to expediency, ignorance, or blatant fraud. Therefore, I will enforce rigorous standards of academic integrity in all aspects and assignments of this course. For the detailed policy of West Virginia University regarding the definitions of acts considered to fall under academic dishonesty and possible ensuing sanctions, please see the Student Conduct Code at http://studentlife.wvu.edu/office_of_student_conduct/student_conduct_code. Should you have any questions about possibly improper research citations or references, or any other activity that may be interpreted as an attempt at academic dishonesty, please see me before the assignment is due to discuss the matter. A Note on Plagiarism: Plagiarism is using or attempting to pass off the ideas or writings of another as your own. If you have any doubts about what constitutes plagiarism, here are a few resources: Purdue University: http://owl.english.purdue.edu/handouts/research/r_plagiar.html University of Toronto: http://www.writing.utoronto.ca/advice/using-sources/how-not-to-plagiarize. Indiana University: http://www.indiana.edu/~wts/wts/plagiarism.html 5 Inclusivity Statement: The West Virginia University community is committed to creating and fostering a positive learning and working environment based on open communication, mutual respect, and inclusion. If you are a person with a disability and anticipate needing any type of accommodation in order to participate in this class, please advise me and make appropriate arrangements with the Office of Disability Services (293-6700). For more information on West Virginia University's Diversity, Equity, and Inclusion initiatives, please see http://diversity.wvu.edu. CLASS SCHEDULE Listed below is a tentative day-by-day schedule of the course content that we will be discussing. Please review the material BEFORE the day that we will be discussing it. The instructor may need to change the schedule as she sees fit. All changes will be announced in class. Class Cancelations: If the University decides to close, cancel, or delay classes, an announcement is posted immediately on various websites, including www.wvu.edu and MIX. If I need to cancel classes, I will email you through your mix accounts and have a notice posted on the classroom door. 6 TENTATIVE CLASS SCHEDULE Note that this is a living document and is subject to change. Please check eCampus regularly. DATE TOPIC/ LEARNING OBJECTIVE READINGS ASSIGNMENT August 18 Course overview, introduction to marketing None None August 25 Marketing Overview (Learning Objective 1) Marketing Plan Handbook, Wood, Ch 1 & 2 HOMEWORK: Purple Cow — Due by 8/25, worth 16.5 points Purple Cow Marketing Management, Mullins and Walker, Ch 1 After reading Purple Cow, answer the following questions: 1) Identify five (5) major points from this reading 2) Identify two existing products or services in the marketplace which you believe have a Purple Cow. Clearly identify the Purple Cow. Strategy in Depth (LO 2) Marketing Plan Handbook, Wood, Ch 5 Marketing Management, Mullins and Walker, Ch 2 Blue Ocean Strategy, Kim and Mauborgn, Ch 1 & 2 3) Give your own example of a Purple Cow for the company where you work. You should develop this on your own—it should not be anything that currently exists. Upload and bring assignment to class. Select two products from the same product category that are targeted to different market segments. Write and submit a summary regarding the implications of the market segments on marketing strategy - Due on 8/27, worth 17.5 points. Upload and bring assignment to class. Sep 1 Segmentation, Targeting and Positioning (LO 3) Wood Ch 3 & 4 Marketing Management, Kotler and Keller, Ch 8 HBR Case: Strategic Inflection: TiVO in 2005 7 CASE ANALYSIS: Read and Prepare “TiVo Case” Prepare responses to the following questions—Due on 9/1, worth 100 points (90 points for content; 10 points participation): 1. 2. 3. 4. Analyze the situation from the consumer’s standpoint. What is TiVo? What factors facilitate its adoption? What factors make adoption difficult? Who is TiVo best suited for? Now adopt the standpoint of the networks, the advertisers and the cable/satellite companies: What do they want TiVo to be? What is TiVo’s competition? What factors should influence the positioning of TiVo? Regarding the strategic alternatives, what is your assessment/recommendation? Submit your responses to the ecampus drop box before 6 PM on Sept. 30 Grading scale for case analyses: 0% = did not complete or the assignment is more than 48 hours late 50%= work shows lack of attention to the assignment OR the assignment is less than 48 hours late. 85%=responses show basic understanding of case issues, application of marketing theory/concepts. Responses are “correct” given case details but are not complete. 100%= Full and complete answer. Note: actual grades will range from 0100%. The above detail is designed to give you a sense of the grading criteria. 8 Section I: Marketing Ethics (LO 4) Ferrell, et al. Ch 3 Market-Based Management, Section II: Budgeting Best, Ch 3. and Forecasting Marketing Management, (LO 5) Kotler and Keller, Ch 4 Sep 8 Buyer Behavior & The Customer: Satisfaction Measurement (LO 6) Marketing Management, Kotler and Keller, Ch 6 then 5. HOMEWORK: Due by 9/3, worth 16.5 points Psychological pricing that attempts to influence a customer's perception of price to make a product's price more attractive. From your perspective, is psychological pricing ethical? Are there limits or boundaries that marketers should consider in using psychological pricing? Prepare a one page response to the above questions. HOMEWORK: Read “Making the Most of Customer Complaints” Due on 9/8, worth 40 points Answer the following: 1. What are the most common complaints where you work? 2. What is the standard procedure for handling complaints where you work? 3. Based on this article, what would you recommend your place of employment do to improve the way it handles complaints? Bring assignment to class. Product and Service Issues (LO 7) Wood Ch 6 HBR Case: Heineken N.V.: Global Branding and Advertising 9 CASE ANALYSIS: Read and Prepare “Heineken Case” Prepare responses to the following questions—Due on 9/8, worth 100 points (90 points for content; 10 points participation): 1. What are Heineken’s strengths and weaknesses? Is Heineken a global brand? 2. Evaluate the research. What has been learned? 3. What are the challenges is developing the Heineken brand throughout the world? Describe how you might approach the worldwide marketing of the brand recognizing a “one size fits all” doesn’t work. 4. What should be the role of Heineken’s headquarters in shaping the marketing of the brand worldwide? Submit your responses to the e-campus drop box before 6 PM on 9/8. Exam posted on Sept 10 EXAM 1 TAKE HOME EXAM – DUE BY 11:59pm on SEPT 13.Upload to ecampus Sept 15 Wood Chapter 7 & 8 Pricing and Distribution Refresher (LO 8) Homework: Submit an article from the WSJ or other business press which deals with antitrust issues (price fixing, mergers, price discrimination…) and summarize the article. Please submit a copy of the article as well as the summary Due on 9/15, worth 16.5 points Bring assignment to class. 10 Sep 22y CASE ANALYSIS (LO 8) HBR Case: Soren Chemical: CASE ANALYSIS: Read and Why is the New Swimming Prepare “Soren Chemical” Pool Product Sinking? 1. What is the addressable market size for Coracle? Is the first year goal of $1.5 Million sales reasonable? 2. While is Soren Chemical struggling to sell Coracle? What are the implications of the channel structure for pool chemicals? 3. What action plan do you recommend for Coracle? 4. Should Coracle adopt a “push” or “pull” strategy? Due 9/22, worth 100 points (90 points for content; 10 points. participation). Upload paper to ecampus CASE ANALYSIS (LO 8) HBR Case: Virgin Mobile USA: Pricing for the Very First Time CASE ANALYSIS: Read and Prepare “Virgin Mobile” 1. 2. Given Virgin Mobile’s target market (14 to 24-year-olds), how should it structure its pricing? The case lays out three pricing options. Which option would you choose and why? In designing your pricing plan, be as specific as possible with respect to the various elements under consideration (e.g., contracts, the size of the subsidies, hidden fees, average perminute charges, etc.). How confident are you that the plan you have designed will be profitable? Provide evidence of the financial viability of your pricing strategy. Due 9/22, worth 100 points (90 points for content; 10 points participation). Upload your paper to ecampus Sep 29 Tuesday Refresher on Promotion (LO 9) Wood Ch 9 CASE ANALYSIS HBR Case: Mountain Dew: Selecting New Creative 11 CASE ANALYSIS: Mountain Dew Case You are Scott Moffitt. What criteria do you use in your decision regarding recommended ad campaign? Which campaign do you recommend? Why? Due on 3/29, worth 100 points (90 points for content; 10 points participation). Upload paper to ecampus Exam posted on October 1 EXAM 2 TAKE HOME EXAM – DUE BY 11:59pm on O c t o b e r 6 . Upload to ecampus 12 BADM 652 Team Member Evaluation Your Name: NAME OF TEAM MEMBER (excluding you)* 1. 2. 3. 4. 5. * NOTE DO NOT EVALUATE YOURSELF ** Evaluation is based on a maximum of 100% and a minimum of zero% (0) for each individual member based upon your judgement and evaluation of that individuals input and group workload. Each group member will be awarded his/her average evaluation percentage in terms of points earned on projects which are determined by the evaluation results of all members of your group. The group members will not receive a grade for the group project being evaluated until all peer evaluations are completed and submitted to the instructor on NOVEMBER 1, 2014 *** If each group member did not receive the maximum percentage (100%) briefly explain why in the space provided below. SIGNATURE: DATE: