Foundations in Marketing 6-8 February, 2012 MBA at Pforzheim University
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1 Foundations in Marketing 6-8 February, 2012 MBA at Pforzheim University A) Aim of the course The course will provide the students with a comprehensive understanding of the concepts and principles of Marketing and its applications. The course will give a comprehensive overview into the key areas of Marketing. B) Key outcomes of the course After the course, you will be capable of... reproducing core theories, explaining the market behaviour by consumers, business organizations and competition, understanding the fundament and process of market research recognize, translate and apply the foundations of strategic marketing management as well as naming, rephrasing and employing the instrumental elements of the marketing mix and at least, differentiating their use by putting together strategic and instrumental marketing elements against the background of specific business cases in order to appraise and argue marketing management decisions C) Course content Understanding marketing and the marketing process: Consumer needs as the source of marketing management Theoretical foundations of marketing management Creating the marketing mix Product Management: The role of features and benefits -product development and product mix Price Management: Optimizing profits - product pricing and pricing policies during the product cycle Sales Management: Go where the shopper is retail channels, customer management and developing new business opportunities Product Promotion: Where and how to reach the customer - The levels and approaches of advertising D) Teaching and learning methods The course tutor will make a presentation for each of the key topics to provide the theoretical basis Practical exercises will be used to apply the theoretical frameworks and tools Case studies will be solved and discussed to understand practical situations Group works will be conducted to leverage the knowledge and the diverse backgrounds of the students in class Videos will be used to further illustrate key concepts (e.g. advertising) Syllabus page 1
2 E) Course contributions to the MBA program goals / learning outcomes Program Goal /Learning Outcome 1. Knowledge of business functions and processes as well as methods and models Through their master studies, students demonstrate their well-founded knowledge of business functions and processes as well as of the relevant tools. 2. Analytical competence, critical thinking and creative problem solving Students demonstrate analytical competence and problem solving skills. Course Contributions to Learning Outcome Determining the basis of marketing strategies (eg Porter's generic strategies, Ansoff matrix), the marketing tools (product, price, communication and distribution policy), brand management, market research and customer segmentation Application of the knowledge imparted in the solutions of case studies Assessment 3. Leadership and team competence 3.1 Students demonstrate social competence of being able to co-operate effectively in a team in order to achieve their aims. 3.2 Students demonstrate that they possess leadership competencies required for leading complex projects. 4. Mastery of challenges of global and European integration Students demonstrate that they are able to examine and assess the challenges of European and global integration. They also demonstrate that they are able to recognize and assess intercultural challenges and make suggestions how to deal with them effectively. 5. Mastery of the challenges of global sustainability Students have basic knowledge of sustainability and are able to examine issues of global sustainability and their causes as well as develop strategies for sustainability. 6. Innovation management Students are able to identify innovation potential for a given case and develop complex technological strategies. Communication skills Group work in assigned teams to solve case studies Examples and case studies will cover a wide range of Marketing issues in the global world Ethical Marketing questions will be covered in cases studies and class discussion New product development will be covered within product policy (Marketing mix) Case study preparation and presentation Written exam Students demonstrate that they are able to express complex matters on scientific basis. Students demonstrate their oral communication skills. Presentation of case studies with selfdeveloped solutions Case study presentation 8. Ethical awareness Students are able to develop strategies for solutions and communication based on company ethics and are able to apply them to typical decision making problems Ethical Marketing questions will be covered in cases studies and class discussion F) Structure of the lecture 1. The Marketing Concept 2. Market environment 3. Consumer buying behaviour 4. Market segmentation, targeting and positioning 5. The Marketing mix Syllabus page 2
3 G) Literature 5.1. Product (Product concepts, service concepts, product portfolio, product life cycle, new product development) 5.2. Branding 5.3. Price (Pricing, cost, competitor and marketing-orientated methods) 5.4. Promotion (Communications mix, advertising, selling, PR direct marketing, objectives, media strategy) 5.5. Place (Channels, retailing, distribution) 6. Marketing plan and implementation The set text is: Jobber, D./ Fahy, J. (2009): Foundations of Marketing, McGraw-Hill Higher Education, 3rd edition (ISBN-10: , ISBN-13: ). The book is a reasonable size (below 400 pages), and the course follows its structure. Please make sure you get the book it is also available in the library. There is a list of required reading from this book later on in this syllabus. For supplementary reading, the following books are recommended (also available in the library): Kotler, P./Keller, K.L. (2011): Marketing Management, Pearson, 14th edition. Jobber, D. (2009): Principles and Practice of Marketing, McGraw-Hill Higher Education, 6th edition. H) Course Assessment The assessment of the course will be based on presentations (of case study solutions) and of a written exam at the end of the semester. Presentation (accounts for 40% of the grade) On the first day of class, teams will be formed which will remain together during the three days of class. During the course of the class, there will be various cases and exercises, which will be discussed in group breakouts and then the solution will be presented by teams to the whole class. The students should draw their solution during the breakout on a flip chart or on a overhead transparency (will be provided by the professor). The professor will ask specific groups to present their solutions on a random basis. Each group will present at least one time. In addition, the group has to hand in their flip chart/ transparency solution when a different team presents. Written exam (accounts for 60% of the grade) On 14 February 2012, the written exam will be held. The exact time, duration and room will be announced on the first day of the class. All content covered in class Syllabus page 3
4 (lecture, lecture script, case studies, exercise, chapters read in the book etc.) will be relevant for the exam. I) Tutor Nadine Walter holds a Masters degree in Business Administration from the University of Mannheim, Germany, a MBA from the University of Massachusetts at Dartmouth in the United States and a Ph.D. in Marketing from the University of Hamburg, Germany. Since 2008, she is a professor of International Marketing at Pforzheim University. Before that, she worked for 6 years as a management consultant at McKinsey & Company. J) Timeline The course will be held from 6-8 February 2012 in room W Class times are as follows (for content of blocks see K): Time Length 6 Feb 7 Feb 8 Feb h 30 min Block 1-4 Block 5-7 Block min break Break Break Break h 30 min Block 1-4 Block 5-7 Block min break Break Break Break h 30 min Block 1-4 Block 5-7 Block hour lunch Lunch Lunch Lunch h 30 min Block 1-4 Block 5-7 Block min break Break Break Break h 30 min Block 1-4 Block 5-7 Block end end end end K) Topics, cases and readings in text book Block Topic Cases Readings in Jobber/Fahy 1 1. The Marketing Chapter 1 Concept 2 2. Market environment Exercises: PESTEL for the Chinese car market Porter s Five Forces for the Oil Industry Chapter 2 and 12 (pages ) 3 3. Consumer buying behaviour 4 4. Market segmentation, targeting and positioning Product Case: Ansoff-Matrix for Red Bull Chapter 3 Exercise on gym Chapter Branding Exercise on brand extensions Case: Gorenje (see Jobber Chapter 6 and 7 Syllabus page 4
5 Block Topic Cases Readings in Jobber/Fahy text book) Price Case: Sony s Play Station 3 (see Jobber text book) Chapter Promotion Case: Harry Potter Chapter 9 and Place Case: Fast fashion Chapter Marketing plan and implementation Exercise Beer garden Chapter 12 L) Essential pre-reading You need to read all five cases (Red Bull, Gorenje, Sony Play Station, Harry Potter, Fast Fashion) before the first day of the course! Since the professor might change the order of the topics covered, it might be that cases scheduled for day 2 and 3 might already be covered on day 1! Please note, that all cases are available on the eroom (the cases on Gorenje and Sony Play Station are also available in the course text book Jobber/Fahry: Foundations of Marketing). M) Contact details and assistance nadine.walter@hs-pforzheim.de Please contact the professor in case of any questions via . Syllabus page 5
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