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BU.450.710.XX – Marketing Strategy – Instructor Name – Page 1 of 10 Marketing Strategy 2 Credits BU.450.710.XX [NOTE: Each section must have a separate syllabus.] [Day & Time / ex: Monday, 6pm-9pm] [Start & End Dates / ex: 3/24/15-5/12/15] [Semester / ex: Fall 2016] [Location / ex: Washington, DC] Instructor [Full Name] Contact Information [Email Address] [Phone Number, (###) ###-#### (Optional)] Office Hours [Please specify the day and time of the 2 hours that will be dedicated to office hours each week. For evening classes, faculty may wish to hold their office hours by phone or email. While faculty are permitted to state “and by appointment,” office hours should not be held exclusively by appointment.] Text(s) & Learning Materials 1. Required HBS and INSEAD Cases Case Title Marketing Strategies in the Competition between Branded and Generic Antibiotics Product Team Cialis: Getting Ready to Market Reference # 503-048-1 9-505-038 The Evolution of the Circus Industry BOS007 Crafting Winning Strategies in a Mature Market: The US Wine Industry in 2001 BOS018 L’Oréal in China: Marketing Strategies for Turning around Chinese Luxury Cosmetic Brand Yue Sai INS291 Unilever in Brazil: Marketing Strategies for Low-Income Consumers Renova Toilet Paper: Avant-garde Marketing in a Commoditized Category 504-009-1 INS131 Diesel for Successful Living: Strategies for an Up-market Line Extension in the Fashion Industry 504-007-1 Russian Standard Vodka: Strategies for Global Branding and Expansion into the US Market 502-080-1 Branding in an Emerging Market: Strategies for Sustaining Market Dominance of the Largest Apparel Brand in India INS6192 BU.450.710.XX – Marketing Strategy – Instructor Name – Page 2 of 10 Please register with Harvard Business Publishing and place your order well in advance, as it may take days to register and receive cases. You need to have all the cases before the first day of class. 2. Background Reading Materials This course is case focused. Relevant conceptual frameworks will be discussed in class. However, students are recommended to read the assigned chapters from the following textbook: Aaker, David A. (2014), Strategic Market Management, 10th Edition, New York: John Wiley & Sons. Students should also go through the recommended articles to broaden their understanding of marketing strategy. Please refer to the course schedule for details. Course Description This course provides students an in-depth understanding of marketing strategy. It is designed to help students experience the role of senior business executives in formulating, implementing, and evaluating marketing strategies for a variety of complex, real-world business scenarios. Students will analyze and learn the key factors underlying the successful and lackluster marketing strategies of both major corporations and smaller firms across different industries, across different tiers of brands and products (luxury versus mass-market), and across the globe. Topics covered include industry and market analyses, dynamics of competition, value creation, branding, segmentation, targeting, positioning, product development, pricing, distribution, and promotion. Through case analyses, in-class discussions, course assignments, and a research project, students will develop skills in devising, executing, and evaluating marketing strategies, as well as working in teams on complex business projects. Prerequisite(s) BU.410.620 OR BU.911.610 Learning Objectives By the end of this course, students will: 1. Sharpen critical thinking skills in analyzing complex, real-world business problems, and identifying solutions. 2. Acquire an in-depth, integrative understanding of marketing strategy topics including industry and market analyses, dynamics of competition, value creation, segmentation, targeting, positioning, pricing, branding, distribution, and promotion. 3. Develop skills in devising, executing, and evaluating marketing strategies for current and emerging business situations. 4. Develop a strong international perspective of marketing and understand how social and cultural diversities impact marketing strategy. 5. Improve their ability to work in teams on complex business projects. 6. Improve business communication skills including face-to-face discussion, presentation, and writing. To view the complete list of Carey Business School’s general learning goals and objectives, visit the Carey website. Assignments [Note to Instructors: Rubrics are provided in the Instructor Notes for this course.] Requirements Attendance and Contribution to Class Discussions Case Opinion Polls Course Learning Objectives 1-6 1-4 Weight (%) 21% 20% (2% per case) BU.450.710.XX – Marketing Strategy – Instructor Name – Page 3 of 10 Final Exam Marketing Strategy Research Project (1) Project Proposal (2) Research Progress Presentation (3) Research Project Report (4) Research Project Presentation (5) Teamwork Evaluation and Reflection TOTAL 1-4 1-6 15% 6% 8% 15% 10% 5% 100% Attendance and In-class Discussion Policies 1. Full attendance and active participation are required to successfully complete this course. Attendance and class participation are an important part of each student’s course grade. You are expected to attend every session and make meaningful contributions to in-class discussions. 2. Absence can be excused only in the case of jury duty, medical emergency, or other uncontrollable circumstances (e.g., extreme weather conditions). Any absence must be validated with official documentation. If you are absent at a class, it is your responsibility to consult with your peers and make up whatever you may have missed in the session. 3. You are expected to attend each session on time. Being late or leaving early will disrupt the lecture, negatively affect other students’ learning, and reduce your attendance and participation points. 4. You are expected to thoroughly prepare for each session. You will be cold-called to answer questions in class. Inability to respond to cold-call questions can negatively affect your participation points. 5. You are expected to pay attention to other students / the professor when they are presenting / lecturing. Behaviors that disrupt other students’ learning (e.g., mobile phone usage, texting, eating) will negatively affect your attendance and participation points. Case Opinion Polls You need to answer all the opinion polls, which will be posted on Blackboard one week before each session. You will be asked to indicate your opinions on a variety of marketing strategy issues pertaining to the cases of the coming session. Please submit your answers by 6PM on the day BEFORE the session. Late submission will not receive credit. Final Exam You will take a final exam at the 8th session. You will be asked to analyze local and/or global business scenarios and respond to a set of marketing strategy questions pertaining to those scenarios. Marketing Strategy Research Project 1. This is a group project. You need form a research team with 3-5 members. Each team should appoint a team representative who will submit the composition of her/his team to the professor by midnight on the day of the 1st session. Each member is expected to contribute equally to the project, and will be evaluated by her/his peers at the end of the semester. 2. Each team needs to identify a firm (or an organization) and conduct in-depth analyses of its marketing strategy. The firm you select can be a local company or a major U.S. or foreign corporation. However, you must be able to collect sufficient information about the firm’s industry, competitors, consumers, products/services, brands, segmentation, targeting, pricing, distribution, promotion, sales/profits, and other aspects of its business pertinent to the BU.450.710.XX – Marketing Strategy – Instructor Name – Page 4 of 10 analyses of the firm’s marketing strategy. You might want to consider choosing the firm you or your team members are currently working for or have worked for. 3. To truly benefit from this project, you should avoid choosing firms whose marketing strategies are very well known (e.g., Apple). Successful research projects have focused on such topics as how a firm in a dire situation strategized to turn around its business; how an ‘underdog’ firm successfully challenged the dominant players in the market; how a firm fundamentally changed or reinvented an industry; how a firm achieved success in a brand-new or shrinking market; or how a firm sustained success or achieved exceptional growth over extended periods of time. While you are not required to use one of these themes, please keep in mind that projects that illustrate interesting marketing strategy problems (such as these) and reveal novel new insights tend to receive higher scores. 4. Your team representative should submit a one-page research project proposal by midnight on the day of the 2nd session. Late submission will not receive credit. In addition to providing basic information about the firm your team plans to research on, this proposal needs to answer the following questions: Why do you think this firm or this business situation is interesting to research on? Why do you want to study it? How will you collect information about the firm and its marketing strategy (e.g., industry, competition, consumers, marketing mix, etc.)? How do you know whether the firm’s marketing strategy is effective or ineffective? How will you evaluate it? How will you function as a team? Who will be responsible for what? How will you collaborate throughout the project? The proposal should be a Word document with 12-point Times New Roman font, single spacing, and 1-inch page margins. The file should be named using the following format: CourseSectionNumber_ProjectTitle_Proposal 5. After your proposal is approved, your team should immediately start working on the research project report. This report will be scored based on your ability to dissect the situation the firm was facing, think systematically and critically about the strategic decisions the firm made, evaluate the outcome objectively and accurately, and articulate your line of reasoning clearly and concisely. The quality of the writing will also affect the points you receive. The report should have a structure similar to the following: I. II. III. IV. V. VI. VII. VIII. Cover Page (Course Section Number, Project Title, and Members) Executive Summary (300-500 words) Current Business Situation Firm’s Objectives Marketing Strategy and Implementation Analysis and Evaluation of the Marketing Strategy The Future Appendix In Section II, you should provide a concise summary of your project, highlighting the key findings of your research. Section III of the report should have a structure like one of the cases you studied in this course (e.g., L'Oréal, Renova); you need to describe the market, industry, competition, target firm, its products/brands, consumers, and all other aspects of the firm pertinent to formulating the marketing strategy. In Section IV, you need to lay out the objectives of the firm—what the firm aimed to achieve through the marketing strategy. In Section V, you should explain in detail the marketing strategy the firm decided to pursue (e.g., STP, 4P’s), how the firm made the decisions, and what were the rationales behind BU.450.710.XX – Marketing Strategy – Instructor Name – Page 5 of 10 these decisions. You will then explain, in Section VI, how and why the strategy is effective or ineffective (what worked and what didn’t), and, if appropriate, how and why the firm should have done it differently. In Section VII, you should discuss what might be the future challenges and opportunities for the firm, as well as what you think the firm should do next. You can provide charts, diagrams, photos, tables, and other supplementary materials in Section VIII. 6. Your team needs to prepare a 3- to 5-minute research progress presentation showcasing your research project idea and the progress your team has made to other teams and the professor. You need to send the PowerPoint slides to me by 6PM on the day BEFORE the 4th session. The PowerPoint file should be named using the following format: CourseSectionNumber_ProjectTitle_Midterm Late submission will not receive credit. The presentation should include the following information: An overview of your marketing strategy research idea What have you done thus far for the project? What else is needed to complete the project? How you have functioned as a team? How have you collaborated on the project thus far? After your presentation, the audience (including the professor) will be given time to ask questions and offer suggestions. 7. The final research report must be submitted in a Word document with 12-point Times New Roman font, single spacing, and 1-inch page margins, and should be within 15 pages (excluding the Appendix). The report should be named using the following format: CourseSectionNumber_ProjectTitle_Report The research report must be submitted by 6PM on the day BEFORE the 8th session. Late submission will not receive credit. 8. Each of you will be asked to evaluate other team members’ contributions at the end of the course. You will also be asked to report how you have contributed to the project and what you have learned from the teamwork experience. See the end of this syllabus for a sample evaluation form. Final Research Project Presentation 1. Each research team needs to deliver a 15- to 20-minute presentation in the last session of the course. Team representatives should submit their team’s slides to me by 6PM on the day BEFORE the 7th session. The slides should be named using the following format: CourseSectionNumber_ProjectTitle_Final 2. Your presentation should have a ‘flow’ similar to the way your report is structured. You can, for example, first present the business situation the firm was facing, then describe the firm’s objectives, explain the formulation and implementation of the firm’s marketing strategy, and discuss the effectiveness or ineffectiveness of the strategy as well as future opportunities and challenges. After each presentation, the audience (including me) will be given a few minutes to ask you questions about your research. 3. Your presentation will be evaluated based on the extent to which it helps the audience understand the content and insights of your research, and the extent to which you are able to address the audience’s questions and concerns. BU.450.710.XX – Marketing Strategy – Instructor Name – Page 6 of 10 Grading The grade of A is reserved for those who demonstrate extraordinarily excellent performance. The grade of A- is awarded only for excellent performance. The grade for good performance in this course is a B+/B. The grades of D+, D, and D- are not awarded at the graduate level. Please refer to the Carey Business School’s Student Handbook for grade appeal information. Tentative Course Calendar* *The instructors reserve the right to alter course content and/or adjust the pace to accommodate class progress. Students are responsible for keeping up with all adjustments to the course calendar. Due Session 1 Focus Background Readings Introduction to the Course * Strategic Market Management Chapter 1-6 Fundamentals of Marketing Strategy * Christensen, Clayton M., Scott Cook, and Taddy Hall (2004), “Marketing Malpractice,” Harvard Business Review, 83 (12), 74-83. (Unless otherwise noted, assignments are due at 6PM on the day BEFORE each session) * Group Composition (due at midnight on the day of this session) * Levitt, Theodore (2004), “Marketing Myopia,” Harvard Business Review, 82, 138-149. * Porter, Michael E. (1996), “What is Strategy?,” Harvard Business Review, 74 (6), 61-78. 2 Dynamics of Competition * Strategic Market Management Chapter 7-9 * Case Opinion Poll (Generic Antibiotics) * Boulding, William and Markus Christen (2001), “First-Mover Disadvantage,” Harvard Business Review, 79 (9), 20–21. * Case Opinion Poll (Cialis) Suarez, Fernando, and Gianvito Lanzolla (2005), “The Half-Truth of First-Mover Advantage,” Harvard Business Review, 83, (4) 121-7. * Hoch, Stephen J. (1996), “How should National Brands Think about Private Labels?” Sloan Management Review, Winter, 89-102. * Quelch, John A. and David Harding (1996), “Brands Versus Private Labels: Fighting to Win,” Harvard Business Review, 74 (1), 99-109. * Research Project Proposal (due at midnight on this day of the session) BU.450.710.XX – Marketing Strategy – Instructor Name – Page 7 of 10 Due Session 3 4 Focus Background Readings (Unless otherwise noted, assignments are due at 6PM on the day BEFORE each session) Market Driven vs. Market Driving * Strategic Market Management Chapter 10-15 * Case Opinion Poll (Wine Industry) * Case Opinion Poll (Circus Industry) Globalization and Localization * Porter, Michael E. (2008), “The Five Competitive Forces that Shape Strategy,” Harvard Business Review, 86 (1), 78-93. * Day, George S., and David J. Reibstein (2004), “Managing Brands in Global Markets,” The INSEAD-Wharton Alliance on Globalizing: Strategies for Building Successful Global Businesses, Cambridge University Press. * Case Opinion Poll (L’Oréal’s Luxury Chinese Brand) * Case Opinion Poll (India’s Largest Apparel Brand) * Gatignon, Hubert, and Christophe Van den Bulte (2004), “Global Marketing of New Products,” The INSEAD-Wharton Alliance on Globalizing: Strategies for Building Successful Global Businesses, Cambridge University Press. Research Project Progress Presentation * Presentation on your research idea and the progress you have made * Slides for Research Project Progress Presentation * Q&A 5 The Tip vs. Bottom of the Pyramid * Prahalad, Coimbatore K., and Allen Hammond (2002), “Serving the World's Poor, Profitably,” Harvard Business Review, 80(9), 48-59. * Case Opinion Poll (Renova) * Case Opinion Poll (Unilever) * Karamchandani, Ashish, Mike Kubzansky, and Nishant Lalwani (2011), “Is the Bottom Of the Pyramid Really for You?” Harvard Business Review, 89(3), 107-111. 6 Product and Brand Portfolios * Aaker, David A. and Erich Joachimsthaler (2000), “The Brand Relationship Spectrum: The Key to the Brand Architecture Challenge,” California Management Review, 42 (4), 8-23. * Tybout, Alice M. and Gregory S. Carpenter (2000), “Creating and Managing Brands,” Kellogg on Marketing, John Wiley & Sons. * Case Opinion Poll (Russian Standard for the U.S. Market) * Case Opinion Poll (Diesel) BU.450.710.XX – Marketing Strategy – Instructor Name – Page 8 of 10 Due Session 7 Focus Background Readings Research Project Presentation (Unless otherwise noted, assignments are due at 6PM on the day BEFORE each session) * Research Project Presentation * Slides for Research Project Presentation * Q&A * Research Report * Peer Evaluation 8 Final Exam * A case analysis exam that assesses your ability to dissect different aspects of local and/or global business scenarios and make strategic marketing decisions Sample Teammate Evaluation Form Name: __________________________________________________________________ Project: __________________________________________________________________ Please evaluate each of your teammates in three areas: Amount of effort put into the marketing strategy research project Quality of contribution Interpersonal skills in working with others For each of the three areas, please provide a number (between 1 and 5) that most appropriately describes the individual’s contribution: No contribution Poor Fair Good Excellent 1 2 3 4 5 Effort Quality Interpersonal Skills Teammate #1 Name: __________________________________ ______ ______ ______ Teammate #2 Name: __________________________________ ______ ______ ______ Teammate #3 Name: __________________________________ ______ ______ ______ Teammate #4 Name: __________________________________ ______ ______ ______ Teammate #5 Name: __________________________________ ______ ______ ______ BU.450.710.XX – Marketing Strategy – Instructor Name – Page 9 of 10 Please briefly describe (1) your specific contributions to the group project and (2) what can you do to improve your skills in collaborating with others on complex business projects in the future. ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ ____________________________________________________________________________________ BU.450.710.XX – Marketing Strategy – Instructor Name – Page 10 of 10 Carey Business School Policies and General Information Blackboard Site A Blackboard course site is set up for this course. Each student is expected to check the site throughout the semester as Blackboard will be the primary venue for outside classroom communications between the instructors and the students. Students can access the course site at https://blackboard.jhu.edu. Support for Blackboard is available at 1-866-669-6138. Course Evaluation As a research and learning community, the Carey Business School is committed to continuous improvement. The faculty strongly encourages students to provide complete and honest feedback for this course. Please take this activity seriously; we depend on your feedback to help us improve. Information on how to complete the evaluation will be provided toward the end of the course. Disability Services All students with disabilities who require accommodations for this course should contact Disability Services ([email protected] or 410-234-9243) at their earliest convenience to discuss their specific needs. If you have a documented disability, you must be registered with Disability Services to receive accommodations. Please note that accommodations are not retroactive. Therefore it is strongly encouraged that you identify your needs to Disability Services as early as possible. Honor Code/Code of Conduct The Carey community believes that honesty, integrity, and community responsibility are qualities inherent in an exemplary citizen. The objective of the Carey Business School Honor Code is to create an environment of trust among all members of the academic community while the qualities associated with success are developed in students. All students are expected to view the Carey Business School Honor Code/Code of Conduct tutorial and submit their pledge online. Please contact the student services office at [email protected] if you have any questions. Students are not allowed to use any electronic devices during in-class tests. Calculators will be provided if the instructor requires them for test taking. Students must seek permission from the instructor to leave the classroom during an in-class test. Test scripts must not be removed from the classroom during the test. Student Success Center The Student Success Center offers free online and in-person one-on-one and group coaching in writing, presenting, and quantitative courses. The center also offers a variety of workshops and exam study sessions, and provides a list of self-guided resources. Most of the tutors are current Carey students. For more information or to book an appointment, please visit the Student Success Center website. Other Important Academic Policies and Services Students are strongly encouraged to consult the Carey Business School’s Student Handbook and Academic Catalog and Student Resources for information regarding the following items: Statement of Diversity and Inclusion Inclement Weather Policy Copyright Statement Unless explicitly allowed by the instructor, course materials, class discussions, and examinations are created for and expected to be used by class participants only. The recording and rebroadcasting of such material, by any means, is forbidden. Violations are subject to sanctions under the Honor Code.