Download MARKETING TECHNIQUES

MARKETING TECHNIQUES
BU 5700.WV Fall 2012
Craig Zamzow, MBA, CSBC
Director Graduate Business
Programs/SBI Director
Office Telephone: 535-2921 or 3020
E-mail: [email protected]
Fax: 535-3223
Required Text:
Kotler, Philip; Keller, Kevin Lane, A Framework for Marketing
Management – Pearson/Prentice-Hall, 5th edition, 2012,
ISBN 10:0132539306 or 13:9780132539302. Do not be confused a
combination ISBN with the PharmaSim simulation as this
combination includes the 4th edition of the text not the 5th edition
Simulation:
PharmaSim: The Marketing Management Simulation. Interpretive
Simulations, Inc., 1421 Sachem Place, Suite 2, Charlottesville, VA
22901. Available at www.interpretive.com. 434-979-0245. The
simulation can be purchased for $39.95.
Wood, Marian Burk, The Marketing Plan: A Handbook and
Marketing Plan Pro Software/Prentice Hall (Optional text to be
discussed in class). Alternative marketing plan texts and/or
software are acceptable for preparation of final marketing plan.
Office Ready Marketing Plans
(www.templatezone.com/marketing-plan-template.php) is an
example of such software.
Optional Texts:
Course Description:
Marketing Techniques is designed as an advanced course in marketing decision making.
The course incorporates the fundamental concepts, functions, and strategies of marketing
into a managerial frame of reference. The course will also focus on marketing
applications in your particular firm or profession. Practical application of the course
concepts will be made through marketing assessments and plans developed by the
student.
An over-the-counter pharmaceutical brand management simulation will be used in order
to provide an opportunity to apply the concepts in the course to a realistic situation.
Students will work individually, make 10 simulated years of strategic and tactical
decisions and compete against other companies in the simulated industry.
Course Objectives:
1. To present a clear picture of the total marketing system in the U.S.; to develop
basic understanding of marketing management in the firm and how marketing relates
to your personal and professional life.
2. To experience the typical decisions required of a brand manager through the use of an
on-line web-based simulation.
3. To develop analytic abilities in problem detection, research, and decision making
using the practical implementation of a Marketing Assessment and creation of a
Marketing Plan. Case discussions and presentations of individual projects will be
emphasized.
4. To expose students to the reality and significance of marketing decisions in the
modern enterprise through developing a Marketing Plan for an actual company.
Integrating marketing in the students’ profession is often appropriate and will be
included in the class work.
Evaluation:
Marketing Assessment & Presentation
20%
Class Participation & Prepared Questions
20%
PharmaSim Simulation
30%
Marketing Plan & Final Presentation
30%
Course Structure:
The actual classroom experience will be compressed into an intense three day format and
consist of similar elements normally contained in the 10 night format. An appropriate
number of guest speakers will also be featured to enhance the overall value of the course.
Students will be expected to accomplish significant pre and post course work prior to and
following the three day experience.
Pre-work:
Pre-work will consist of reading the entire required text book and preparing written
answers to several questions on the important concepts contained in each chapter. The
chapter questions are posted on Moodle along with this course syllabus. Students will be
expected to hand in a hard copy of the questions on day three of the classroom period.
Failure to do so will result in a fifty percent reduction in the Class Participation portion of
the evaluation and loss of at lease one half of a grade level (i.e. A reduced to A- ; A- to
B+; etc.)
In addition, students will be expected to do a marketing assessment of the organization
with which the student is currently employed or another approved in advance by the
instructor. The student will follow the interview outline provided by the instructor and
posted with the course syllabus on Moodle and prepare a written marketing assessment
including all of the requested elements and a SWOT analysis. This written assessment
will be handed to the instructor for review during the student’s presentation.
Each student will prepare a 10 minute Power Point presentation (maximum time
permitted, if exceeded the student will be cut off) and present his/her marketing
assessment at one of the two after dinner sessions of the three day experience. For
minimum set up time please bring your Power Point presentation on a “flash drive” to
enable loading. This presentation will need to be created with Power Point, compatible
with MS version 2010 the student intends to use the instructor provided laptop computer.
Students are encouraged to bring their own laptop to this session for use in the class
presentation and for the PharmaSim Simulation. The facility is fully WIFI enabled.
Each student will be expected to subscribe to the PharmaSim simulation as shown above
prior to the three day classroom. The student should print out the student manual (or
purchase a copy) from the simulation web site above, read the case introduction and
come prepared to take an open book quiz on the facts of the case. Additional trial and
experimentation with the simulation is encouraged and will prepare the student for
accelerated learning in the actual simulation. Students will be allowed to experience
several simulation advances, replays and restarts prior to the start of the real simulation
during the classroom weekend. Students will work individually and will compete in the
competitive over-the counter drug market as a product brand manager. Students may
form informal teams for strategy and planning discussions however decisions will be
entered individually. Students will be allowed to make decisions during the 3 day
weekend. The student is expected to make 10 simulated years of decisions during the
term.
Post-work:
Following the three day classroom, the student simulation teams will be expected to make
all remaining decisions on the simulation and complete any exercises assigned by the
instructor. The ad-hoc team approach is optional. Therefore, students should self-select
their teams to enable communication and potential face to face meetings during the
remainder of the term. All students will be expected to submit (email preferred) a
summary of their simulation experience including the initial marketing strategy adopted
by the student; a description of each of the10 period decisions made and resulting impact
on performance; a statement as to what the student wished he/she had done differently
during the simulation; and finally what the student learned from the entire simulation
experience.
Students will prepare a Marketing Plan for any organization other than the one for which
the students work. This plan should follow the outline for a marketing plan as provided
by the instructor (to be handed out in class) or the outline presented in the text chapter 2.
Alternatively students may use Marketing Plan Pro or similar software to generate the
plan. This approach will earn extra credit for the student’s plan.
The student will also prepare a Power Point presentation of his/her Marketing Plan with
the intent of presenting the plan to the client organization. Such a client presentation is
assumed. The student will email a copy of the plan and the Power Point presentation to
the instructor to be received no later than December 20, 2012. This represents a grace
period extension beyond the end of the fall term to enable students to do an adequate job
on the plan. An incomplete grade (I/C) will be issued for students who need this extra
time.
Marketing Assessment:
Each student will be required to do a marketing assessment of his/her current or recent
employer (if not employed select a company with instructor approval). This project will
require the student to interview his/her employer’s chief marketing officer in depth
(interview questions posted on Moodle with the syllabus), do a SWOT analysis
(explained in detail in the required text) and make recommendations based on the
student’s findings and personal knowledge of the organization.
Treat this assignment as a consulting engagement and write recommendations with the
intent of providing a copy of the report to the person interviewed. A verbal presentation
of the written report will be made in class and a written copy will be provided to the
instructor. The student is encouraged but not required to present his/her marketing
assessment to the individual interviewed for the assessment.
PharmaSim Simulation:
Students will participate in the PharmaSim simulation as a “brand manager” in the overthe-counter cold medicine market. The simulation creates a competitive environment in
the simulated industry and informally between the other students in the class. Students
will be required to make the typical kinds of marketing decisions required of a brand
manager and experience the results of those decisions in the simulated market place.
This learning experience should provide a realistic application of the course material.
Student evaluations of this portion of the course will assessed on the quality of the
strategic and tactical decisions made by the student and relative placement in the
competitive environment (profitability, market share and stock price) at the end of the
simulation.
Students may be expected to make one or two decisions prior to or during the three day
classroom using their own laptop computer. The three day classroom facility has WIFI
broadband internet access and students are encouraged to bring their own laptops to this
class.
Term/Final Marketing Plan:
Each student will be expected to prepare a Marketing Plan for a company (other than the
student’s employer) of his or her choosing (instructor approval required prior to or during
the 3 day classroom). The instructor recommends that students choose a small to medium
sized company for this plan. Students will have easier access to needed client information
and personnel with a smaller company. Also, a smaller business client is more likely to
make use of the plan than a large corporation. In general the learning experience is
enhanced with a smaller business.
It is optional that the student acquire Marketing Plan Pro or alternative software for use
in developing this plan. A written marketing plan and Power Point presentation of that
plan will be completed as a final project by the end of the term. The student should come
prepared to discuss the client for the Marketing Plan with the instructor and obtain
approval to proceed during the three day classroom.
Key Questions Influencing Company Choice:
1.
Is there adequate depth in terms of marketing management? (Don’t lose sight of
the project’s goal – to illustrate marketing concepts and strategies from the text
and lectures. Are there several specific concepts that can be clearly presented?
Are there examples of management’s adaptation of the “4-Ps” to changes in the
marketing environment?)
2.
Can you access adequate information? The most common problem in this project
is access to complete and accurate information. Both company contacts and
external articles are important. Be sure the company is willing to provide the
support material needed. Confidentiality is often a concern with such clients. The
student may need to sign a confidentiality agreement and or disguise the company
and/or product name(s) in order to gain the client’s cooperation.
3.
Is the subject company evocative, inherently interesting, engaging, and
challenging to you so as to provide a meaningful learning experience? Avoid the
temptation to remain in the comfort zone of your own company, industry and/or
experience.
4.
Does the company case represent an opportunity to apply the class material within
the Marketing Plan?
5.
The presentation should be done with the intent to present it to the client and
include appropriate tables, graphs and visuals to make it interesting and effective.
The presentation should be brief and to the point. It should include an instructor
only appendix which would include background information about how the plan
was created and difficulties, if any, encountered during the process.
Format for Paper:
The basic outline and flow provided by the instructor should be used unless the
student is using a software template to prepare the plan. Such software will provide a
good outline and logical structure for the Marketing Plan. Beyond this restriction
student creativity is encouraged. Graphs, visuals, samples, ads, photos of the
company’s product(s), etc. should be integrated into the plan as they tend to “breathe
life” into the plan. It is optional to use Marketing Plan Pro or other software to
prepare the marketing plan.
The plan should include the student’s own personal views, assessments and
recommendations based on his/her research. Do not merely report and document what
the company is doing. Propose what the company should be doing (or should not be
doing) in addition to or instead of current marketing activities.
Pre-work Discussion Questions:
Goal: To demonstrate understanding of the text material. Each student will be expected to
prepare responses to the questions (provided by instructor) on each chapter in the
Kotler/Keller text and submit them at the end of the three day experience. These question
responses should be typed and in grammatically correct, complete sentence form. These
questions will be discussed in class on the assigned date. Answers should be brief and to
the point. Do not go overboard in your answers but recognize that this is a time consuming
effort prior to the class.
These questions will be evaluated as a portion of the class participation score.
BEST WISHES FOR A SUCCESSFUL TERM!
Sincerely,
Craig Zamzow
MARKETING TECHNIQUES
Three day Weekend Course Schedule:
Friday, November 2, 2012:
9:00 – Introductions, objectives, syllabus review, expectations, Marketing Plan
client selection, Q&A
10:00 – 11:00 noon - Chapters 1-4 question review, SWOT review
11:00 – Guest speaker, Jay Buckley – Megaprint, Inc., Marketing
12:00 noon – Lunch
1:00 – 3:00 - Guest speaker, Terri Dautcher – Social Media Marketing
3:00 – 3:30 – Win-Win or No Deal!
3:30 – 4:30 - Chapters 5 – 9 question review, Marketing Research role/case studies
with short break
4:30 – 6:00 - Simulation: Quiz, introduction, demo, team selections, strategy
formulation. Workshop.
6:00 Dinner
7:00 – 9:00 Student Marketing Assessment presentations
Saturday, November 3, 2012:
9:00 – 10:00 – Chapters 10 – 14 question review/case studies/Buyers Style influence
with short break
10:00 – Guest speaker TBD
12:00 Lunch
1:00 – 3:00 - Guest speaker, Diane Durkin, Loyalty Factor
3:00 – 6:00 - Chapters 15 – 18 questions review/workshops with short break.
Workshop
6:00 Dinner
7:00 – 9:00 Student Marketing Assessment presentations
Sunday, November 4, 2012:
8:00 – 12:00 Advanced Marketing Research, Small Business Marketing,
Integrated marketing communications/Case studies
Wrap-up Departure
12:00 Lunch
1:00 – 3:00 Student advising discussions as required
Simulation Deadlines: 1-2 decisions required per week – ends December 20, 2012
(10 total decisions required).
Text Questions for preparation (pre-weekend):
Chapter 1 – Defining Marketing for the Twenty First Century:
1.
2.
3.
4.
5.
6.
7.
8.
What is the formal definition of marketing?
What is marketed?
Who markets?
What are some significant trends in marketing?
What are needs, wants, demands and how do they relate?
Explain the difference between marketing channels and a supply chain.
What is the Marketing Mix?
How has marketing evolved from the Product Concept through Holistic
Marketing?
9. What is relationship marketing?
Chapter 2 – Developing and Implementing Marketing Strategies and Plans:
1. Explain the value creation and delivery process and the differences from the
traditional marketing delivery sequence.
2. What makes a good mission statement? How does your organization’s mission
statement stack up?
3. What is a SBU?
4. What roles do a SWOT analysis and MOA play in the strategic planning process?
Why does every strategic plan begin with a SWOT analysis?
5. What are the three fundamental growth strategies?
Chapter 3 – Collecting Information and Forecasting Demand:
1. What is an MIS? What roles does it play in an organization and what is its
importance?
2. List at least five significant trends in the “environment” and explain their impact
on marketing today.
3. What role does marketing research play in the marketing process?
4. What are the steps in conducting marketing research?
5. What is the difference between primary and secondary data? When is each used in
marketing research?
6. What is the definition of market share? What are the important implications of
market share with respect to an organization’s competitive position and
manufacturing costs?
7. What is the difference between the potential, available, target and penetrated
market?
Chapter 4 – Creating Long-term Loyalty Relationships:
1. Explain the concept of Customer Perceived Value and the key implications on
marketing.
2. What is a value proposition? Give an example using your organization’s products
and/or services.
3. What are the key measures of customer satisfaction and how can marketing
impact these measures?
4. Explain the concept of CLV (customer lifetime value) and the importance of
customer Profitability.
5. Explain the concept of Customer Loyalty and how CRM (customer relationship
management) can aid in cultivating customer relationships.
6. What are some ways that your organization builds Customer Loyalty?
Chapter 5 – Analyzing Consumer Markets:
1. What are some examples of social and cultural factors that need to be considered
by marketers?
2. What consumer factors impact the effective communication of a marketing
message? How do these factors impact consumer attitudes?
3. Explain the concept of consumer involvement in the buying process.
4. What are the stages of the buying decision process? Explain the differences
between a high involvement and low involvement purchase decision.
5. Reflect on a major purchase that you have made recently. What were the steps
that you went through to execute the purchase? Be prepared to share your
experience in class.
Chapter 6 – Analyzing Business Markets:
1. What are the similarities and differences between individual consumer and
organizational buying?
2. What are the three organizational buying situations? Give an example.
3. What is a buying center? What are the typical roles in a buying center and the
representative titles of the members?
4. What are the stages of the organizational buying process? How does it work in
your organization or give an example?
Chapter 7 – Identifying Market Segments and Targets:
1) What is market segmentation? Why is it done? How is it done? What are the
bases for consumer market segmentation?
2) What are the bases for segmenting business markets?
3) Why do companies target multiple segments? What are the criteria for effective
market segmentation?
4) What is psychographic segmentation and how does it differ from demographic
segmentation?
Chapter 8 – Creating Brand Equity:
1. What is Brand Equity and why is it important in Marketing?
2. How does a marketer go about measuring and managing Brand Equity?
3. What is Brand Loyalty and why is it important in Brand Marketing?
4. What are the optional Branding Strategies? Which one(s) does your organization
use?
5. What are the factors and alternatives which need to be considered in Branding?
6. What is Brand Extension? What are the positive negative implications of Brand
Extension?
Chapter 9 – Crafting the Brand Positioning and Competing Effectively:
1) What are POPs and PODs and why are they important in marketing?
2) What is product differentiation? Give some examples of product, employee,
channel, image and services differentiation.
3) What are the four competitive strategies for market leaders? What are tactics for
market expansion, protecting market share and increasing market share?
4) What are market challenger, follower, and nicher strategies.
5) What is Guerilla marketing and who should do it?
Chapter 10 – Setting Product Strategy and Marketing through the Life Cycle:
1. What are the five levels of customer value product hierarchy? Why is this concept
important in Marketing?
2. What are the four classifications of goods? What are the differences in marketing
these four categories of goods?
3. Explain the forms of Differentiation and their significance in product management
and marketing.
4. What is a product mix? Explain the difference between product line width, length
(depth). What is the risk of line extension?
5. Briefly explain the new product development process. At what point in this
process should development be aborted?
6. Explain the concept of time of adoption of innovations. Why is this concept
important in Marketing?
7. Explain the product life cycle and how marketing strategies and tactics change
through the different stages of the cycle.
Chapter 11 – Designing and Managing Services:
1) What are the four key characteristics of services? Why are they important in
marketing services?
2) What are some methods of evaluating services and product support delivery
quality?
3) What are the service mix categories? What are the five key consumer expectations
(gaps) that a services marketer must manage?
4) How would you approach marketing the following services: Business consulting,
a sports franchise (team), financial advising, personal fitness or care services?
Chapter 12 – Developing Pricing Strategies and Programs:
1) What are the implications of selecting an initial price that is too high or too low?
2) The two “opposite” pricing strategies are penetration pricing and skimming
pricing. Explain the differences between these strategies and their respective
objectives.
3) When would you use each of the following pricing methods - markup, targetreturn, perceived value, value, going-rate, auction-type, group, gain-and-risk
sharing, and “razor/razorblade”?
4) When is it appropriate to use price discounts and allowances? What are some
examples of promotional pricing?
5) What alternatives exist to respond to changes in market demand and/or
competitive forces other than changing prices? What choices does a company
have in responding to a competitor’s price changes?
Chapter 13 – Designing and Managing Integrated Marketing Channels:
1. Explain the concept of value networks. Describe your organization’s value
network.
2. What is the role of Marketing Channels?
3. Of the different alternatives of marketing channels, which one(s) does your
organization use.
4. Describe the difference between vertical and horizontal marketing systems.
5. What are the types of channel conflict and why do such conflicts arise?
6. How has E-Commerce changed the landscape of Marketing and Marketing
Channel practices?
Chapter 14 – Managing Retailing, Wholesaling and Logistics:
1.
2.
3.
4.
What is retailing? How are retailers classified?
What are the types of non-store retailing?
What are some of the dominant trends in retailing and wholesaling?
What is the difference between an organization’s marketing channels and supply
chain?
5. What is logistics management and what is the significance of logistics to and
organization?
6. What are the key tradeoffs in logistics management?
Chapter 15 – Designing and Managing Integrated Marketing Communications:
1. Marketing is basically a form of communication. What two important
commonalities (overlapping fields of experience) must exist between the sender
(marketer) and the receiver (Consumer) must exist in order for the communication
to be effective?
2. What is IMC? Why is a good IMC plan important to an organization?
3. Compare and contrast Advertising vs. Public Relations.
4. What are the different budgeting approaches for managing Marketing
Communication expenses?
5. What are the key considerations in developing a Marketing Communication Mix?
Chapter 16 – Managing Mass Communications:
1. What is advertising? What are the 5 Ms of advertising? What are the primary
objectives of advertising? What are some common ways to measure the
effectiveness of advertising?
2. What is meant by Reach, Frequency and Impact. Discuss the importance of each.
3. What criteria should be used to determine the selection of advertising media?
4. What are some examples of promotion and when they should be used? When and
how should events marketing be used in the promotional mix?
5. What is PR? Compare PR to Advertising? Where does PR fit in the promotional
mix? How is the effectiveness of PR measured?
Chapter 17 – Managing Personal Communications:
1. What are the types of direct marketing and how is each type used in the marketing
mix? Describe the advantages and disadvantages of each.
2. What is interactive marketing and how has it changed the marketing landscape?
3. What is a sales force and what are the different types of salespeople? What are the
key issues in establishing and managing a sales force?
4. What are the different forms of sales compensation? What are the advantages and
disadvantages of each? How does compensation impact sales person motivation?
5. Compare and contrast transactional selling vs. relationship selling. What is long
term customer value?
Chapter 18 – Managing Marketing in the Global Economy:
1.
2.
3.
4.
5.
What is a global firm and what is unique about such organizations?
What are the key decisions that need to be made when choosing to go abroad?
What are the alternative ways to enter foreign markets?
What are the five alternative product strategies for international markets?
What is socially responsible marketing? What is green marketing and
sustainability? What is cause-related marketing?
MARKETING ASSESSMENT
MARKETING TECHNIQUES – BU5700: Craig Zamzow, Instructor
The assignment is to do a marketing assessment of the organization for which you work.
The assignment begins with a face-to-face interview with the Chief Marketing Officer
(Marketing VP, VP Sales and Marketing, Director of Marketing, etc. are appropriate titles
but it should be the most senior marketing person in the organization) of the organization
during which you should ask at least the following questions:
Name _______________________________
Title _________________________________________
Company _________________________________________
1)
2)
3)
4)
5)
6)
7)
8)
What is the scope of your responsibilities?
What is your educational history?
Please summarize your career leading up to your current position?
What is the most significant challenge of your position?
What is the mission of the company?
What is the marketing strategy that supports this mission?
What is the highest marketing priority for your organization today?
What are the key marketing tactics and promotional programs that you use to
accomplish your objectives?
9) What are some of your most successful marketing initiatives?
10) What marketing initiatives, if any, have not met up to your expectations?
11) What are the strengths, weaknesses, opportunities and threats of your company?
12) What are the short and long term goals of your company and the implications on
your marketing programs?
13) Other questions that seem appropriate to you?
Having taken notes on the interview, please do a SWOT analysis of the organization. And
then do a Marketing analysis and provide answers, assessments and recommendations as
follows:
1) Summarize the career experiences that led to the CMO’s current position. In your
opinion, does the CMO of your organization have an appropriate background to
handle the challenges of his/her current position? Are their any experiences or
educational credentials missing from his/her background that would seem to be
desirable?
2) What is your assessment of the effectiveness of your company’s marketing
efforts? In particular, how well does marketing support the strategic objectives of
the company and assist in accomplishing its mission?
3) In your opinion, what marketing efforts should be enhanced? Which ones should
be eliminated or scaled back? What new marketing initiatives seem appropriate at
this time? What are your recommendations for other changes?
SWOT Analysis Worksheet
Strengths (internal to organization):
Weaknesses (internal to organization):
Opportunities (external market/business/product opportunities);
Threats (external environmental/competitive):
Marketing Recommendations (based on above factors using marketing mix):