|The essence of marketing is consumer focus: Understanding of consumers guides marketing strategy. However, this external focus on the consumer must be balanced with the internal focus on the core capabilities of the firm. Product strategy, pricing strategy, communication strategy and distribution strategy are integrated into a coherent marketing plan that the firm can implement and that results in an improved consumer experience. Students work in teams to develop their own marketing plans for the companies featured in the selected cases. Each week a different team presents its plan. The teams not presenting submit a short note summarizing their analyses. A general class discussion follows in which the students not presenting debate with the presenting team contrasting assumptions and analyses. The instructor interjects to provide insights. He concludes with a summary analysis at the close of the class discussion (a case note is distributed). The motivations for this format are 1) not steering the class discussion toward a specific answer, instead fostering a vigorous debate, 2) encouraging the largest number of students to speak up since each student having worked on the case with his/her teammates can count on their support when intervening in class, and 3) using all the relevant information in the case in a systematic way to arrive at a marketing plan. Putting together a marketing plan requires quantitative analysis (demand forecasting, profitability analysis, etc). At the end of the course students will have developed the ability to put together valid marketing plans, one of the major responsibilities of the marketing executive.
The course employs a mix of readings and lectures to introduce theories, concepts, frameworks and analytical tools necessary to develop valid marketing plans. Some of the key frameworks include consumer orientation, market segmentation, core competency of the corporation, product differentiation, diffusion of innovation, new product development process, value pricing and coordination in channels of distribution.
Prospective students are urged to contact instructor at email@example.com to obtain additional information on the course including testimonies of previous students.