MKT 606 STRATEGIC MARKETING - COURSE SYLLABUS

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1 MKT 606 STRATEGIC MARKETING - COURSE SYLLABUS Disclaimer: This syllabus was prepared as a general, generic version to be displayed with course information about this elective. There will no doubt be modifications in it depending on your particular program, scheduling pattern, and section of the class. MKT 606 Professor: Dr. Greg W. Marshall Strategic Marketing Phone: (407) Classroom: FAX: (407) Time: gmarshall@rollins.edu Office: Bush Executive Center 302 Office Hours: By appointment COURSE DESCRIPTION FROM CATALOG This course provides students with solid experience in creating market-driven and market-driving strategies for the future success of a business. A focus is on discovering and developing a set of unique competencies for a firm that, through strategic differentiation, leads to sustainable competitive advantage in the marketplace. Students are provided ample opportunity to develop and practice creative problemsolving and decision-making skills to simulate the requirements of today s complex market environment. Industry analyses will be performed that include the following: internal/external analysis, customer analysis, competitor analysis, market/submarket analysis, and comparative strategy assessment. This course may be counted towards either a MKT or ENT concentration. PURPOSE OF THE STRATEGIC MARKETING COURSE This course takes a marketing leadership/chief Marketing Office (CMO) perspective in order to enhance your ability to use strategic marketing to maximize firm performance. Fundamental concepts in marketing strategy development and execution are introduced. Key analytics that lead to the capability to select and execute successful market-driven and marketdriving strategies are applied to multiple industries and firms. You will learn how to decide which factors in the competitive landscape are most likely to affect a business, how you can gauge the level of impact of the factors, and what impact the factors are likely to have on a business future. The role of creative decision making and innovation for marketing strategy development and execution is exemplified throughout the course. Simple knowledge of the trends that may impact a business is of limited use unless you can break out of the box as a marketing leader/cmo and engage in truly creative market analysis and decision making for the future. You will have opportunities to practice developing marketing strategies and assess key implementation issues/challenges associated with them. PROFESSOR A brief biographical sketch of Dr. Marshall is attached (Appendix A). INSTRUCTIONAL MATERIALS Strategic Market Management 9 th ed. by David A. Aaker; published by Wiley. You must use the 9 th edition the template for the industry analysis project is formulated around it. This is not a traditional textbook; rather it provides an enhanced template for various analyses you will perform in the course. Other articles and materials will be provided by the professor as applicable. 1

2 BLACKBOARD I will be utilizing the Rollins Blackboard to help manage the course. You will be able to get relevant information simply by logging into the blackboard site. Please turn all assignments in through the Blackboard except for your team industry analysis project and accompanying PowerPoints, which should be turned in both on Blackboard and in hard copy. IMPORTANT: (1) Please don t simultaneously assignments to me that you have placed into the Blackboard; (2) also, there s no need to provide a hard copy of assignments turned in on Blackboard except as noted above. TEACHING APPROACH We will use a variety of approaches including discussion, team breakouts, mini-cases, application papers, in-class exercises, industry analyses, and the opportunity for you to be creative and innovative. Throughout the term, your experience should be that the course is conducted more like a consulting intervention, designed to add value to everyone's future success as a leader and manager. You are fortunate, because the assigned book is excellent succinct and clear and serves as a great resource to aid in your class discussion. It is a great read. From time to time I may provide some extra reading material for you for immediate discussion or for discussion on a specified date. This type of course requires that each week, every student come to class fully prepared to discuss the material that is relevant for that class period. In order to succeed in this course format, each student must be willing to contribute his/her ideas to the class discussion. I may call on you in class for feedback, so it is very important that you be prepared for the day s assignments. EVALUATION OF STUDENT ACHIEVEMENT OR PROFICIENCY A total of 500 points will be available for the student. These may be earned as follows: Participation and contribution to discussion 75 Industry analysis and presentation (team) 150 points 150 Industry briefs (individual) 25 points each) 75 Application papers (individual) 25 points each) 75 In-Class Mini-Case (team) 25 points each) 125 TOTAL 500 Participation and Contribution to Discussion Your own contribution to the classroom discussion based on your own knowledge and your experiences is a critical part of the success of the course for everyone. Note that 75 points depend on your performance in this facet of the course. This is often enough to make a difference in final course grades. I expect relevant, informed, interesting, and insightful comments from individuals in the class. This includes during full class discussion as well as during team breakout sessions. In all situations, be absolutely clear that quality of contribution rather than merely quantity of "talk time" is a key to your success. Be respectful of other students and avoid exhibiting dominating, one-way, and "shot from the hip" approaches to class discussion. It is your responsibility to attend class. Attendance directly factors into this category since, obviously, you cannot participate if you are not in class. Much of the learning in this course comes from our in-class interactions and activities. This is not a distance-learning course or a 2

3 self-study course. In this course there is no viable way to make up missed in-class learning opportunities. Industry Analysis Report (Team) Each team is required to prepare one comprehensive industry analysis for the class, including a formal presentation in addition to the written document. The presentations can be as creative as you like so long as they cover the essential issues required in the analysis. The presenting team will each turn in a maximum page paper (executive summary, exhibits, references, appendices, cover sheet, and any other material deemed relevant may be added to the above page limit) and will also deliver a maximum 20 minute PowerPoint presentation, not including Q&A and discussion time. The David Aaker book is a recognized leader in providing you with an effective template for this analysis. A brief summary outline of the project template is provided in Appendix B of this syllabus. A much more detailed document on the project template titled Industry Analysis Team Project is located on the course Blackboard under Course Documents. The full analytical scope for each section of the analysis is located within the various parts of the Aaker book. Another document posted on Blackboard under Course Documents, Team Project Report Formatting and Delivery Specifications, provides important information for preparing and submitting your final document. Papers are due in hard copy and into the on or before the startup of class on the date the presentation is scheduled. Include a copy of your PowerPoint slides in handout format (six slides per page) at the back of your report. Industry Briefs (Individual) You are required to prepare and submit an individual industry brief for your choice of any three of the industries for which your team is not preparing and presenting a comprehensive industry analysis report. In order to receive full credit for this assignment, as an individual student (not team effort) you must do all of the following: 1) Visit a general business Web site (in the genre of Yahoo Business, Disclosure, Hoovers, etc.) as well as Web sites of key competitors in the industry to become familiar with that industry. 2) Read at least one recent (published within 6 months) article related to the industry and/or its key competitors from reputable business magazines or similar sources. 3) Turn in a maximum 1 page (typed/1.5 spaced and/or bulleted) brief summary of your findings and impressions both from the general business Web site and the article (include complete URLs/citations for each in a footer). Do not go over 1 page including the footer. Be ready to use this material to contribute to the class discussion on that industry. Papers are due into the Blackboard on or before the startup of class on the date the particular industry is scheduled. These cannot be turned in after we have covered an industry in class. Please do not work on preparing them with other students. Application Papers This facet of the course provides the opportunity for you to inject even more of your own learning and experience directly into the mix. I think you will enjoy this opportunity to apply your ideas to specific issues. More details about the application papers are provided in Appendix C of this syllabus. Papers are due into the Blackboard on or before the startup of class on the date the particular Application Paper is scheduled. These also are individual papers. Please do not work on preparing them with other students. In-Class Mini-Cases We will explore some topics through strategic marketing mini-cases. These mini-cases are an in-class team activity. Each will come with its own instructions for approaching the issues. The specific 3

4 deliverable will be explained at the time of the assignment. I may ask you to do a short extemporaneous presentation related to the mini-case. There is nothing to prepare in advance for these except that you must be up-to-date with the assigned readings. Grade Computation Obviously, your grade in this course is based on a combination of individual and team related work. You must perform at a high level in both areas to receive an A. On team industry analyses and in-class mini-cases there will be an overall team score for each project. Then, at the end of the course you will complete a peer/self-evaluation of the team aspect of the course. Based on the results of this evaluation, as well as my own assessment, any team member s course grade will be adjusted if necessary. For example, if all members of the team participate fully in the team projects, then each grade will not be adjusted. However, if a team member does not participate fully in the team projects, then his/her grade will be adjusted accordingly. Grades are reported as follows: A: indicates consistently excellent work B: indicates work of the quality normally expected of a graduate student C: indicates work that is below the quality expected of a graduate student F: indicates work that is unacceptable from a graduate student I: Incomplete indicates that the student and instructor have agreed that outstanding work will be completed and the grade changed to A, B, C or F by the mid-term point of the following term. Grades A, B, and C will be modified by a plus or minus based on the scale below: A 93 to 100% B 83 to 87% A- 90 to 92% B- 80 to 82% B+ 88 to 89% C Follows the same ranges as for B Advice on MBA Attitude toward Grades It is pointless and ultimately self-defeating to fixate on grades in an MBA program. Graduate education is different from undergraduate education in many ways. Students who carry a grade fixation overboard in graduate school often risk damaging their relationship with their professors, with the school, and with their peers. Your job here at Crummer is to do your best and to focus on the learning opportunity your course of study affords you to become a more effective leader and manager. Peer Evaluations It is expected that every member of a team will participate fully and appropriately in the research, analysis, preparation, and delivery of team assignments. As mentioned above, you will complete a peer/self-evaluation for team assignments. I pay a lot of attention to these in assigning final grades for the course. Late Assignment Policy Overall, please exhibit good planning and time management skills throughout the semester. I am not receptive to receiving assignments late. Except for the team industry analysis papers (which you will turn in both on Blackboard and in hard copy), you will be turning in all assignments on the Blackboard only, which logs in day and time of posting. Specific due dates and times are indicated under the different assignment sections above. MBA STUDENT CODE OF ACADEMIC HONESTY Please refer to this document on the Crummer Web site. I will adhere to it in total. 4

5 STUDENTS WITH DISABILITIES Rollins College is committed to equal access and does not discriminate unlawfully against persons with disabilities in its policies, procedures, programs or employment processes. The College recognizes its obligations under the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990 to provide an environment that does not discriminate against persons with disabilities. If you are a person with a disability on this campus and anticipate needing any type of academic accommodations in order to participate in your classes, please make timely arrangements by disclosing this disability in writing to the Disability Services Office at (box 2613) - Thomas P. Johnson Student Resource Center, 1000 Holt Ave., Winter Park, FL, Appointments can be scheduled by calling or gridgeway@rollins.edu. TYPICAL AGENDA Industry Application In-Class Week Chapters Analysis 1 Paper 2 Mini Case X 2 2 & 3 X 3 4 & 5 X 4 6 & 7 X 5 8 & 9 X 6 10 X 7 11 Team TBA 8 12 Team TBA 9 13 Team TBA Team TBA Team TBA X 12 X 1 You are required to prepare and submit an individual industry brief for your choice of any three industries for which your team is not preparing and presenting a comprehensive industry analysis report. See description of this deliverable earlier in the syllabus. 2 This is an individual assignment. See description of this deliverable earlier in the syllabus and in Appendix C of the syllabus. 3 The in-class mini-cases generally do not require advanced preparation. However, you must be caught up with the readings in order to optimize your contribution to them. See description of this deliverable earlier in the syllabus. 5

6 APPENDIX A Biographical Sketch Dr. Greg W. Marshall Greg W. Marshall (Ph.D., Oklahoma State University; BSBA and MBA, University of Tulsa) is the Charles Harwood Professor of Marketing and Strategy in the Crummer Graduate School of Business at Rollins College. From he also served as Vice President for Strategic Marketing for Rollins. He was previously on the faculty at Oklahoma State University (also serving as Director of the Executive MBA Program there), the University of South Florida, and Texas Christian University. Dr. Marshall s managerial industry experience includes thirteen years with companies such as Warner Lambert, Mennen, and Target Corporation. He also has considerable experience as a consultant and trainer for a variety of organizations. Dr. Marshall has been heavily involved in teaching in MBA and Executive MBA programs, as well as at the Ph.D. level. His primary teaching focus at all these levels is on strategy-related courses such as Strategic Marketing, Introduction to Strategy, and others. In 2002 he received the Outstanding Marketing Teachers Award from the Academy of Marketing Science based on his work over the years in MBA education. While at OSU, he received the Chandler-Frates Teaching Award, in which the MBA students recognize the top professor in their program. And in 2005 he received the Cornell Distinguished Faculty Award in the Crummer School at Rollins College. He is Editor of the Journal of Marketing Theory and Practice and from was Editor of the Journal of Personal Selling & Sales Management. Dr. Marshall serves on the editorial review boards of the Journal of the Academy of Marketing Science, Industrial Marketing Management, and Journal of Business Research, among others. He is co-author of Marketing Management 1 st ed. (McGraw-Hill, 2010), Essentials of Marketing Management 1 st ed. (McGraw-Hill, 2012), Sales Force Management 10 th ed. (McGraw-Hill, 2012) and Relationship Selling 3 rd ed. (McGraw-Hill, 2010). He is also co-author of Marketing: Real People, Real Choices 7 th ed. (Prentice Hall, 2009). Dr. Marshall has published over 40 refereed journal articles. His research centers on the following areas: sales force selection, performance, and evaluation; decision making by marketing managers; and intraorganizational relationships. Dr. Marshall is Past President of the American Marketing Association Academic Division, which represents over 2,000 marketing faculty worldwide and also was a founder and served for five years on its Strategic Planning Group. He is a Fellow and Past-President of the Society for Marketing Advances, and is a Distinguished Fellow and President of the Academy of Marketing Science. 6

7 APPENDIX B Summary Outline of Industry Analysis Project Template Each team is required to prepare one comprehensive industry analysis for the class, including a formal presentation in addition to the written document. The presentations can be as creative as you like so long as they cover the essential issues required in the analysis. The presenting team will each turn in a maximum page paper (executive summary, exhibits, references, appendices, cover sheet, and any other material deemed relevant may be added to the above page limit) and will also deliver a maximum 20 minute PowerPoint presentation, not including Q&A and discussion time. Available points are 150. Below is a summary outline of the project template, reflecting key components of David Aaker s analytical approach. A more detailed document on the project template titled Industry Analysis Team Project is located on the course Blackboard under Course Documents. The full analytical scope for each section of the analysis is located within the various parts of the Aaker book. For a particular industry analysis, if there is information in the template that you think is unavailable or irrelevant, or if there is information you wish to add that is not in the template, please contact me in a timely manner. Parts 1, 2, 3, and 4 can be included in the document in any order. Part 5 must be the last major part of the paper. Do not duplicate information across the various sections of the template. 1) Perform an External and Internal Environmental Analysis a. External environment yields opportunities and threats (Ch.5, especially Fig. 5.1) b. Internal environment yields strengths and weaknesses - focus on things that contribute most to market success (Ch.6 gives you areas you can look at internally for the key competitors. However, I would like you to focus on things that contribute the most to market success. Therefore, you can use Fig. 3.4 as a guide to much of this assessment.) 2) Perform a Competitor Analysis (Ch.3, especially Fig. 3.1) a. Identify and analyze the three most important direct competitors b. Identify other current and potential direct competitors c. Identify current and potential indirect competitors 3) Perform a Market/Submarket Analysis current and high potential (Ch.4, especially Fig. 4.1) 4) Perform a Customer Analysis current and high potential (Ch.2, especially Fig. 2.3) 5) Provide a Comprehensive Strategy Assessment (Figs. 7.2 and 8.1 can help guide your thinking here) a. Describe each key competitor s current positioning/marketing strategy b. What are each key competitor s major sources of competitive advantage c. What additional sources of competitive advantage could each develop in the 7

8 future d. Select one competitor for further focus, then provide: i. New positioning and accompanying new marketing strategies that you recommend for it ii. Why you recommend these particular strategies iii. How these strategies would be implemented iv. How their success should be measured 8

9 APPENDIX C Additional Information on the Application Papers Concept An important part of learning is the ability to transfer concepts and thought structures from one frame of reference to another. To achieve that level of learning, the application papers ask students to individually apply concepts (topical areas) from the course to a specific business setting. These papers will provide the basis for part of our classroom discussion on the days of their submission. Process Your paper is not to exceed two pages under any circumstances, including any references (1.5 spaced, 12 point Times Roman type, one inch margins around). You may craft the paper in outline/bullet point form or in prose (i.e., paragraph) form depending on the need and your preference. It should reflect your ideas applied to the specific issues within the assignment. References must be provided as required. Be prepared to discuss your findings in class. As indicated in the main portion of the syllabus, each of these will be worth 25 points. In general, if you provide a paper that is interesting, holds value, and is appropriate you should receive all or a majority of the points. However, papers that are off target, do not effectively address the issues posed, or are incomplete will not receive all or a majority of the points. Remember that the course also contains an evaluation component for contribution to class discussion, both in the full group and in periodic in-class breakouts. Certainly, you will want to take advantage of the opportunity to fully contribute to the discussion of your application papers on the days they are due. Papers are due into the Blackboard on or before the startup of class on the date the particular Application Paper is scheduled. These are individual papers. Please do not work on preparing them with other students. Topical Assignments I will provide the specific topical assignments for the Application Papers on the Blackboard under Assignments. 9