Download Create MKTG 3340 - Entrepreneurial Marketing

REQUEST TO COLLEGE CURRICULUM COMMITTEE FOR CURRICULAR IMPROVEMENTS
DEPARTMENT: MKTG
PROPOSED EFFECTIVE SEMESTER: Fall 2014
PROPOSED IMPROVEMENTS
Academic Program
Substantive Course Changes
New degree*
New course
New major*
Pre or Co-requisites
New curriculum*
Deletion (required by others)
New concentration*
Course #, different level
New certificate
Credit hours
New minor
Enrollment restriction
Revised major
Course-level restriction
Revised minor
Prefix
Title and description
Admission requirements
(attach current & proposed)
Graduation requirements
General education (select one)
Deletion
Transfer
Not Applicable
Other (explain**)
Other (explain**)
COLLEGE:
Business
Misc. Course Changes
Title
Description (attach current & proposed)
Deletion (not required by others)
Course #, same level
Variable credit
Credit/no credit
Cross-listing
COGE reapproval
Other (explain**)
Title of degree, curriculum, major, minor, concentration, or certificate:
Existing course prefix and #:
Proposed course prefix and #: MKTG 3340 Credit hours: 3
Existing course title: N/A
Proposed course title: Entrepreneurial Marketing
Existing course prerequisite & co-requisite(s):
Proposed course prerequisite(s) MKTG 2500
If there are multiple prerequisites, connect with “and” or “or”. To remove prerequisites, enter “none.”
Proposed course co-requisite(s)
If there are multiple corequisites, they are always joined by “and.”
Proposed course prerequisite(s) that can also be taken concurrently:
Is there a minimum grade for the prerequisites or corequisites?
The default grades are D for undergraduates and C for graduates.
Major/minor or classification restrictions:
Restricted to students with the new major and minor codes for entrepreneurship
For 5000 level prerequisites & corequisites: Do these apply to: (circle one)
undergraduates
graduates
both
Specifications for University Schedule of Classes:
a. Course title (maximum of 30 spaces): Entrepreneurial Marketing
b. Multi-topic course:
No
Yes
c. Repeatable for credit:
No
Yes
d. Mandatory credit/no credit:
No
Yes
e. Type of class and contact hours per week (check type and indicate hours as appropriate)
1.
Lecture
3.
Lecture/lab/discussion 3
5.
Independent study
2.
Lab or discussion
4.
Seminar or
studio
6.
Supervision or practicum
CIP Code (Registrar’s use only):
Chair/Director
Date
Chair, College Curriculum Committee
Date
Dean
Date:
Curriculum Manager: Return to dean
Date
Graduate Dean:
Date
Forward to:
Date
Chair, COGE/ PEB / FS President
FOR PROPOSALS REQUIRING GSC/USC REVIEW:
Date
*
Approve
Disapprove
Chair, GSC/USC
Date
*
Approve
Disapprove
Provost
Date
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1.
Explain briefly and clearly the proposed improvement.
Entrepreneurial Marketing (MKTG 3340) is an examination of marketing theory, concepts and processes used
by entrepreneurial companies to create customer value while accomplishing their strategic mission and
objectives. This is one of the core courses that are part of the new Entrepreneurship Major offered in the
Haworth College of Business.
2.
Rationale. Give your reason(s) for the proposed improvement. (If your proposal includes prerequisites, justify those,
too.)
Western Michigan University is not currently offering classes with a focus on marketing in entrepreneurial
ventures. The purpose of this course is to provide students with a framework understand the key role
marketing plays in the success of entrepreneurial firms.
Entrepreneurial Marketing is a core course in the new Entrepreneurship Major.
Prerequisites required: MKTG 2500; or consent of instructor. The required prerequisite provides a general
level of knowledge needed to understand the material covered in this course.
3.
Effect on other colleges, departments or programs. If consultation with others is required, attach evidence of
consultation and support. If objections have been raised, document the resolution. Demonstrate that the program you
propose is not a duplication of an existing one.
Adding this course will not affect other colleges or departments. No other program offers a course related to
entrepreneurial marketing.
4.
Effect on your department’s programs. Show how the proposed change fits with other departmental offerings.
This proposed course fits well within the current offerings of the department. This course, though similar to
MKTG 4700 Business Marketing Strategy and MKTG 4860 Customer Driven Marketing Strategy, will focus on
the unique strategic issues that involve dynamic entrepreneurial businesses. This course is a core course for
the new Haworth College of Business Entrepreneurship major.
5.
Effects on enrolled students: Are program conflicts avoided? Will your proposal make it easier or harder for students to
meet graduation requirements? Can students complete the program in a reasonable time? Show that you have
considered scheduling needs and demands on students’ time. If a required course will be offered during summer only,
provide a rationale.
This course will have no adverse effect on enrolled students.
6.
Student or external market demand. What is your anticipated student audience? What evidence of student or market
demand or need exists? What is the estimated enrollment? What other factors make your proposal beneficial to
students?
Demand for this course will be related to the number of students admitted to the Entrepreneurship Major and,
to a lesser extent, individual students interested in entrepreneurial marketing. It is estimated that between 20
to 40 students per year will be taking this course which would be offered once a year.
7.
Effects on resources. Explain how your proposal would affect department and University resources, including faculty,
equipment, space, technology, and library holdings. Tell how you will staff additions to the program. If more advising
will be needed, how will you provide for it? How often will course(s) be offered? What will be the initial one-time costs
and the ongoing base-funding costs for the proposed program? (Attach additional pages, as necessary.)
The course will be offered once a year and can be taught by instructors currently in the Department of
Marketing who have knowledge about entrepreneurship as it relates to marketing strategy.
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8.
General education criteria. For a general education course, indicate how this course will meet the criteria for the area
or proficiency. (See the General Education Policy for descriptions of each area and proficiency and the criteria. Attach
additional pages as necessary. Attach a syllabus if (a) proposing a new course, (b) requesting certification for
baccalaureate-level writing, or (c) requesting reapproval of an existing course.)
Not applicable.
9. List the learning outcomes for the proposed course or the revised or proposed major, minor, or concentration. These
are the outcomes that the department will use for future assessments of the course or program.
The basic objectives of the course are to have students: 1) Develop an understanding the essence of
marketing terminology, concepts, and strategies as they apply to small and new ventures; 2) Develop skills in
analyzing and solving entrepreneurial marketing problems in business; and, 3) Learn to write a basic
marketing plan for an existing or proposed entrepreneurial company. Classes will consist primarily of lecture,
discussion and application. Student participation is expected to reflect thorough preparation and insightful
thinking.
10. Describe how this curriculum change is a response to assessment outcomes that are part of a departmental or college
assessment plan or informal assessment activities.
This new course will provide students with another perspective on entrepreneurial marketing and further
enhances the renewed interest in entrepreneurship within the Haworth College of Business and across the
university as a whole.
11. (Undergraduate proposals only) Describe, in detail, how this curriculum change affects transfer articulation for
Michigan community colleges. For course changes, include detail on necessary changes to transfer articulation from
Michigan community college courses. For new majors or minors, describe transfer guidelines to be developed with
Michigan community colleges. For revisions to majors or minors, describe necessary revisions to Michigan community
college guidelines. Department chairs should seek assistance from college advising directors or from the admissions
office in completing this section.
No change.
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Proposed Catalog Copy
MKTG 3340 – Entrepreneurial Marketing
Marketing 3340 is an examination of marketing theory, concepts and processes used by
entrepreneurial companies to create customer value while accomplishing their strategic mission
and objectives. The basic objectives of the course are to have students: 1) Develop an
understanding the essence of marketing terminology, concepts, and strategies as they apply to
small and new ventures; 2) Develop skills in analyzing and solving entrepreneurial marketing
problems in business; and, 3) Learn to write a basic marketing plan for an existing or proposed
entrepreneurial company.
Prerequisites & Corequisites: Prerequisite: MKTG 2500
Credits: 3 hours
Restrictions: Restricted to Entrepreneurship majors and minors.
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MKTG 3340
ENTREPRENEURIAL MARKETING
COURSE OBJECTIVES
Marketing 3340 is an examination of marketing theory, concepts and processes used by
entrepreneurial companies to create customer value while accomplishing their strategic mission
and objectives. The basic objectives of the course are to have students: 1) Develop an
understanding the essence of marketing terminology, concepts, and strategies as they apply to
small and new ventures; 2) Develop skills in analyzing and solving entrepreneurial marketing
problems in business; and, 3) Learn to write a basic marketing plan for an existing or proposed
entrepreneurial company. Classes will consist primarily of lecture, discussion and application.
Student participation is expected to reflect thorough preparation and insightful thinking.
REQUIRED TEXT (Examples)
Marketing for Entreprenuers: Concepts and Applications for New Ventures (2012), Frederick
Crane.
80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More (2013),
Perry Marshall.
COURSE CONTENT
Two Examinations - 50%
Homework/Case Studies – 15%
Final Marketing Plan – 25%
Presentation – 10%
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COURSE OUTLINE
Date*
Topic
Reading
Week 1
Marketing for the Entreprenuer
Book/Cases
Week 2
Finding and Evaluating Entrprenuerial Opportunities
Book/Cases
Week 3
Segmentation/ Positioning/Differential Advantage
Book/Cases
Week 4
Developing Products and Services
Book/Cases
Week 5
Building and Sustaining a Brand
Book/Cases
Week 6
Entreprenuerial Pricing
Book/Cases
Week 7
Developing Effective Distribution Strategies
Book/Cases
Week 8
Developing and Presenting Marketing Plans
Book/Cases
Week 9
Personal Selling for the Entreprenuer
Book/Cases
Week 10
Social and Digital Media for the Entreprenuer
Book/Cases
Week 11
Sales Promotition for the Entrprenuer
Book/Cases
Week 12
Traditional Media for the Entreprenuer
Book/Cases
Week 13
Franchising for the Entreprenuer
Book/Cases
Week 14
Sustainability for the Entreprenuer
Book/Cases
Week 15
Marketing Plan Presentations
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Marketing Plan: Paper Outline
I. Table of Contents
II. Company Information
This part of the paper is an overview of the history and the present status of the company
(employees, equipment, facilities, history, etc).
III. Market Analysis
A. Industry Overview (List Industry’s NAICS code at beginning of section)
1. Industry Overview
2. History of Industry
3. Trends in Market
B. Competitive Analysis
1. Major Competitors:
a. Define why the companies described in this section are considered “major competitors.”
b. Provide information on each major competitor’s product/services (include market mix and
company info). What are the strengths and weaknesses of each of the competitors?
2. Minor Competitors:
a. Define why the companies described in this section are considered “minor competitors.”
b. Provide general information on minor competitors products and services.
C. Opportunity/Threats Analysis - what are the opportunities that the firm may be able to
exploit? What threats are there in the market place?
D. Demand Analysis – both total demand for product/service and projected demand for your
product/service.
IV. Target Market
Target Market - who is the target market? Give in-depth information about the t- market for
1.) Business (demographic, geographic, benefit)
2.) Consumer (demographic, geographic, psychographic, benefit)
V. Marketing Mix Variables
This section should include a detailed overview of the P’s of marketing (including “positioning”). It
should be organized as follows:
A. Product/Service - an explanation of the product/service in terms of features, advantages,
benefits, warranties, etc. Are different products and services being targeted to different
consumers? Explain.
B. Positioning Strategy – How are you distinguishing your company from the competition? What is
your differential advantage in the market place.
C. Price - details on costs to end consumer, and if appropriate to the retailer or distributer. Also, include
price quantity discounts or other specials pricing deals if applicable. What type of pricing strategy is
being used?
D. Place (distribution) - Where can consumers purchase the product? What distribution channels are
used? Overall, how does the business get the products and services to your target market(s)? Is the
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internet used to distribute goods and services to either the end user or other distribution channel
members? Explain.
E. Personal Selling Strategy
Describe the role personal selling will play in the distribution and sale of your
product/services.
F. Promotion - integrated marketing communications strategy for the firm’s products/services.
1. Promotional Objectives - What are the firm’s overall communication/promotional
Objectives (i.e., What do you want to accomplish with your advertising and promotions? Are they
different for the various target markets? Explain.
2. Advertising - Describe specific methods (TV, radio, billboards, brochures,
newspapers, magazines, other) that are used to achieve the
communication objective you gave above. Include cost of advertising (breakdown the cost of each area of
advertising).
3. Sales Promotions - Describe ways the company creates added
value or incentive to purchase their products or services. Include total cost of
sales promotion and breakdown the cost of each area of sales promotion.
4. Public Relations - Explain how the company would use Publicity and PR to help achieve their
communication objectives. Include total cost of PR and breakdown the cost of each specific part of PR.
5. Direct Marketing - Describe different direct marketing techniques
that are used by the firm and how direct marketing is used
to reach specific consumer groups. Include total cost of DM and breakdown the cost of each part of
DM.
6. Sponsorship – Explain any event- or cause-oriented activities your firm would use. Include total cost
of sponsorships and breakdown the cost of every sponsorship listed.
7. Internet/Web - Describe how the company will use the web to promote (and/or sell) their goods and
services. Explain and breakdown cost of Internet/web. Search Word Marketing should also be included.
8. Social Media - Describe how the company will use social media to promote (and/or sell) their goods
and services. Explain and breakdown cost of Internet/we
9. Promotional Budget - Provide the total promotional budget and a breakdown of the cost for each of
the above promotional areas.
VI. Income Statement
VII. References
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