Download class syllabus - MIT Sloan School of Management

MIT Sloan School of Management
15.812 Marketing Management
Spring 2013
Time
Section A: Tuesday and Thursday, 10:00 - 11:30 AM
Section B: Tuesday and Thursday, 1:00 - 2:30 PM
Classroom
E51-335
Course Websites
http://stellar.mit.edu/S/course/15/sp13/15.812/
www.InventForTheWorld.com
Professor
Juanjuan Zhang
Office: E62-537
Phone: (617) 452-2790
Email: [email protected]
Web: http://jjzhang.scripts.mit.edu
Teaching Assistants
Aliaa Atwi
Email: [email protected]
Course Objectives
This course provides a comprehensive introduction to contemporary marketing practices, with
a focus on turning technologies into market value. Upon completion of this course, you will be
able to:
•
Understand key marketing concepts and their real-world implementations
•
Apply state-of-the-art frameworks towards analyzing marketing problems
•
Develop and present a concrete marketing plan
This course explores both marketing theory and practice. The lecture sessions introduce you to
established concepts, techniques, and frameworks to approach marketing problems. The case
study sessions—which cover a range of products from college dorm appliances, fashion accessories, entertainment robots, Internet advertising, to airline services—illustrate how these
marketing concepts, techniques, and frameworks can be applied in real world situations.
We start with “marketing strategies,” where the 5 C’s of marketing (Consumers, Company,
Competitors, Collaborators, and Context) jointly determine the selection of target market and
positioning strategies. We then proceed with “marketing tactics,” where a firm chooses the 4
P’s of marketing (Product, Place, Promotion, and Price) to implement its marketing strategies.
The class will culminate with a team project presentation where you introduce the marketing
plan you create for a product of your choice.
Course Materials
1. Reading list: The course draws upon a reading list that contains cases and background
articles. Please see pages 8-9 of this syllabus for the full list. You are required to read
the assigned cases before class and be prepared to discuss the cases critically. The reading list is composed of two parts:
a. Course packet: The course packet contains articles that are copyright-protected.
You can purchase the course packet on Study.Net or at CopyTech.
b. Stellar notes: We will post supplementary course materials in the form of lecture notes on the Stellar course website. These notes are free to download. (We
thank the authors for sharing these contents.)
2. Slides: Slides for the lecture sessions will be available on Stellar at least 24 hours before
class. Please print and review these slides before coming to the lecture. Slides for the
case sessions will be posted after class.
3. Textbook: There is no required textbook for this course. For a reference volume that includes marketing terms, examples, and a general taxonomy of issues I recommend Philip Kotler & Kevin Keller, Marketing Management, 14e, 2011, Prentice-Hall.
Grading
Final grades will be based on the following components:
1.
2.
3.
4.
5.
Class participation (individual)
Case write-ups (team)
Problem set (individual)
Midterm exam (individual)
Final project (team)
20%
30%
10%
20%
20%
The expectations for each component are explained as follows:
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Prof. Juanjuan Zhang, Spring 2013
1. Class participation (20%)
Your class participation grade is based on attendance (10%) and input (10%).
You get one “free absence.” That is, you do not need to provide any explanation for
missing one class. However, additional absences will cost you attendance points, unless
you encounter extenuating circumstances such as serious illness. Absence due to job interviews is not excused.
Your input to class discussion will be evaluated by the TA and myself based on both
quantity and quality. You should view class participation as an opportunity to both ask
questions to enhance your understanding of the material and suggest examples that
demonstrate such understanding.
I will direct questions to either the whole class or specific individuals. Therefore, be
prepared to be "cold called." (If you find this policy disagreeable, please let me know.)
When assigned cases are discussed, be prepared to (1) articulate the main features of
the case, (2) answer case guideline questions, and (3) defend your recommended
course of action.
In order to help me get to know you and give you credit for your comments, please always bring your name plate to class. This is your opportunity for branding—you want
me, the TA, and your classmates to associate your insights with you, the brand.
Past experience suggests that fixed seating enhances brand recognition. During the first
week of class you are free to trade seats. For example, you may want to sit with your
teammates. However, I will distribute a seating chart at the end of the second class.
Please mark your name on the seating chart, and keep that seat for the semester.
2. Case write-ups (30%)
We will study five cases during the semester. In addition to discussing the cases in class,
your team will submit write-ups on: MicroFridge, Swatch, and BMWFilms. Each case
write-up contributes to 10% of your final grade.
A case write-up is due at the beginning of the class when that case is to be discussed.
You will benefit from team preparation by gaining practice defending your ideas verbally and seeing the approaches employed by other team members. All team members
should contribute to the case write-up, which is expected to be original material.
As part of the case write-up you may be asked to provide recommendations on a course
of action. Note that there is rarely a "right" answer in any case—the course of action often depends on assumptions not explicitly present in the case facts. However, the pro-
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Prof. Juanjuan Zhang, Spring 2013
cess by which you arrive at a recommendation and the principles you draw on are extremely important.
Please refer to the “tips” section for guidelines on how to form teams and structure
case write-ups.
3. Problem set (10%)
This course contains a quantitative aspect to help you understand the theories behind
marketing practices. There will be one quantitatively oriented problem set that is due
before class on Thursday, April 11. Each of you should submit your own answer.
4. Midterm exam (20%)
An 80-minute midterm exam will be given in class on Thursday, March 14. The exam covers all lectures and case discussions up to Tuesday, March 12. The types of questions
may include multiple choice, quantitative problems, and short answers. There will be
no final exam.
5. Final project (20%)
An important marketing skill is the ability to develop a “marketing plan.” Throughout
the course, we will discuss the key elements of marketing plans. By the end of the semester your team will develop a marketing plan on a product of your choice. The deliverables are:
1) Marketing plan (strategy part): a two-page outline of your marketing strategy,
due before class on Tuesday, April 2 (5%).
2) Marketing plan (completed): a four-page outline of your marketing plan including the strategy part, due before class on Tuesday, May 7 (5%).
3) Project presentation: a 10-15 minute presentation at the end of the semester
that introduces your marketing plan to the class (10%).
You are strongly encouraged to start on the project once your team is formed. This way
you will be able to incorporate the skills you learned in each class into your plan, and to
lighten your end-of-semester workload.
To help you build your final project, some students from previous years have kindly
agreed to share their final presentation slides at the following website:
www.InventForTheWorld.com
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Tips
1. Forming teams
You should form teams to prepare for the cases and to complete the marketing plan
exercise. The target size is five people. Teams of more than five people are not allowed,
and teams of fewer than four people are strongly discouraged.
Please submit to your TA a roster of your team members by the end of the second class.
Please designate a contact person and provide a phone number for that person. If you
are a free agent or a team of only two members, submit your name or roster anyway,
and we will help you grow a team by random matching.
I encourage you to name your team to give it some personality. This is, in a way, your
branding opportunity. Examples of names include “Masters of Sales and Marketing”,
“Three Marketeers”, and “the Prophet Margins”.
2. Case write-ups

Use the case questions I give you as a guide.

Use bullet-point form.

Separately answer each discussion question. Use headings to highlight which questions you are answering.

Structure your answers using sub-headings, when necessary, to make it clear that
you have used an analytical approach to reach your answers. Random lists of issues
without structure leave your TA guessing as to which issue you consider most critical
to the case analysis.

Do not omit the obvious points. In fact, it helps to start with the most obvious
points and work further from there.

I am more interested in the quality of your analysis than any specific set of conclusions. Make sure that you give both the pros and the cons of each alternative. Describe the theory and process by which you arrived at your conclusions.

Review the lecture slides before writing your analysis. The theory presented in the
lectures can serve as a useful guide.

Quality is more important than quantity.
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3. Getting Help from the Professor and the TA
You may have various questions about the course or marketing in general. I will try to
stay after class to answer any questions. You can also email me and/or your TA and set
up office appointments. In addition, I encourage you to get to know your TA as soon as
possible. I have requested your TA to meet with each team as you prepare for one of
the early case discussions, and when you start working on the final project. The TA will
arrange a time and place that is mutually convenient. Overall, your TA is an excellent
source of buzz on how you might optimize your 15.812 experience. Please feel free to
discuss your questions, concerns, and suggestions with him/her.
Student Support Services
If you are dealing with a personal or medical issue that is impacting your ability to attend class,
complete work, or take an exam, please discuss this with Student Support Services (S3). The
deans in S3 will verify your situation, and then discuss with you how to address the missed
work. Students will not be excused from coursework without verification from S3. You may
consult with S3 in 5-104 or at 617-253-4861. Also, S3 has walk-in hours Monday-Friday 9:0010:00 AM.
Student Disability Services
MIT is committed to the principle of equal access. Students who need disability accommodations are encouraged to speak with Kathleen Monagle, Associate Dean, prior to or early in the
semester so that accommodation requests can be evaluated and addressed in a timely fashion.
Even if you are not planning to use accommodations, it is recommended that you meet with
SDS staff to familiarize yourself with the services and resources of the office. You may also consult with Student Disability Services in 5-104 or at 617-253-1674. If you have already been approved for accommodations, please contact me early in the semester so that we can work together to get your accommodation logistics in place.
Ethics
An important concern in any discipline is the ethics of its practitioners. This is certainly true in
marketing and advertising. Ethical issues will arise in the case discussions. Indeed, some managers in the cases act in ways you might not consider ethical. These actions are left in the cases
specifically to raise ethical issues. We encourage you to address these issues in class discussion.
For a student to sign his/her name to a team assignment, the student will have done a substantial amount of work on that assignment. It is not, for example, acceptable to rotate the work
across assignments. Violation of this guideline hurts you, your team, and your colleagues.
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When in doubt, please follow the guidelines in MIT’s Handbook for Students on Academic Integrity (http://web.mit.edu/academicintegrity/).
We subscribe to the MIT Sloan professional standards and MIT’s standards of Academic Integrity. 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, refraining from web-browsing, emailing, and texting), and avoiding distracting or
disrespectful activities (e.g., side conversations). Portable computers are to remain closed during class. Tablet devices are not to be used during class even though course packets are available electronically. This policy is in place for all core classes at MIT Sloan and will be revisited as
necessary. A complete description of the MIT Sloan professional standards is available on the
course website.
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Class Schedule
CLASS
DAY
DATE
1
T
2
TOPIC
READING ( * indicates required reading)
2/5
Introduction
Dolan, “Note on Marketing Strategy”
Th
2/7
Framework of marketing
Hammond, “Learning by the Case Method”
3
T
2/12
Customer analysis
Hauser, “Note on Conjoint Analysis”
4
Th
2/14
Competition
* Simester, “Understanding Horizontal Competition”
T
2/19
No class (Presidents Day)
5
Th
2/21
Case: MicroFridge
* Deighton, “MicroFridge: The Concept”
6
T
2/26
Segmentation, targeting,
and positioning
Chernev, “Segmentation and Targeting Analysis”
7
Th
2/28
Branding
Keinan and Avery, “Understanding Brands”
8
T
3/5
Case: Swatch
* Moon, “The Birth of the Swatch”
9
Th
3/7
Product diffusion, midterm
review
Hauser, “Note on Life Cycle Diffusion Models”
10
T
3/12
New product development
Hauser, “Note on Product Development”
11
Th
3/14
In class midterm exam
T
3/19
No class (SIP)
Th
3/21
No class (SIP)
12
T
4/2
Marketing channels
* Simester, “Understanding Vertical Competition”
13
Th
4/4
Case: Sony AIBO
* Moon, “Sony AIBO: The World’s First Entertainment Robot”
14
T
4/9
Promotion I
Best, “Marketing Communications and Customer
Response”
15
Th
4/11
Promotion II
T
4/16
No class (Patriots Day)
Th
4/18
Industry presentation
16
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17
T
4/23
Case: BMWFilms
* Moon and Herman, “BMWFilms”
18
Th
4/25
Pricing I (Economics)
Dolan and Gourville, “Principles of Pricing”
19
T
4/30
Pricing II (Psychology)
Anderson and Simester, “Mind Your Pricing Cues”
20
Th
5/2
Case: Southwest Airlines
* Heskett and Hallowell, “Southwest Airlines:
1993 (A)”
21
T
5/7
Project presentation I
22
Th
5/9
Project presentation II
23
T
5/14
Project presentation III
24
Th
5/16
Course summary
Due Dates
CLASS
DAY
DATE
2
Th
2/7
Finalize seating and form teams by the end of class; bio card due
5
Th
2/21
Case write-up on “MicroFridge” due before class
8
T
3/5
Case write-up on “Swatch” due before class
11
Th
3/14
In class midterm exam
12
T
4/2
Marketing plan (strategy part) due before class
15
Th
4/11
Problem set due before class
17
T
4/23
Case write-up on “BMWFilms” due before class
21
T
5/7
Marketing plan (completed) due before class
21
T
5/7
Project presentation I
22
Th
5/9
Project presentation II
23
T
5/14
Project presentation III
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ASSIGNMENT
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