LINGNAN UNIVERSITY Department of Marketing and International Business

Transcription

1 LINGNAN UNIVERSITY Department of Marketing and International Business Course MKT 355 (L1) Marketing Strategies Second Term Instructor Ling Peng Time & Location Monday 11:30am-1:00pm & Thursday Pre-requisite BUS205 Marketing Management Office BU205 Phone Website Office Hours T 9:30-11:30am & W 1:30-3:30pm & TR 1:30-3:30pm Or by appointment Required Textbook Strategic Market Management, 8th edition. David A. Aaker, John Wiley & Sons, Supplementary Textbook for Case Studies Strategic Marketing Cases for 21 st Century Asia, John A. Quelch, Swee Hoon Ang, Siew Meng Leong and Chin Tiong Tan, Course Description Department General Course Description: Strategic marketing is imperative to company s survival and growth in the rapidly changing business environment of the 21 st century. This course assumes that students have developed a basic understanding of marketing concepts and techniques and have had some exposure to some of the specialized areas of marketing. Hence, this applied course strengthens marketing students ability to perform strategic analysis and develop marketing programs, plans, and strategies in today s competitive market environments. To facilitate the learning process, students will undertake case study analysis and develop marketing plans. Ling s Description: This is an integrative course in marketing planning and strategy. The course is applications-oriented, focusing on strategic analysis and creating, adapting and implementing strategy. Students are expected to bring the theory and concepts they have learned in the areas of marketing, management, economics, and finance to bear on the marketing planning process.

2 MKT 355 (L1) Marketing Strategies Page 2 Learning Objectives/Outcomes The course will equip students with the following analytical skills in marketing: 1. To identify and evaluate the strategic choices confronting organizations in the marketplace; 2. To undertake situational analysis to identify and assess the market environment and consumer forces that affect marketing planning and strategy development; 3. To develop consumer-centered marketing strategies including analysis, planning, organization, implementation, and control activities; 4. To assess how strategic marketing planning may interface with other core business functions and how they together affect business performance as a whole; 5. To appreciate and understand the value and importance of business ethics and social responsibility issues involved in marketing decision making. Nature of the course Lecture, discussion, case analyses, presentations, and a project. Students are expected to attend class regularly and participate thoughtfully and intelligently in class discussions. Students participation in classroom discussions will be monitored on an individual basis. The means of assessing student learning outcomes include 1) classroom discussions, 2) case study exercises and group projects, and 3) final examination. Teaching Method This course consists of two sessions each week. The first session will usually be for introduction of strategic marketing concepts and techniques while the second one for in-class group discussion and presentations. Students will form the teams by themselves after the first class. Teams will prepare for class discussion as they see fit, and conduct a comprehensive marketing-strategy analysis for an external client (see below). Student evaluation Grades will be determined as follows: At an individual level: Mid-term Essay 10% (Due on March 20) Final Examination 50% At a team level: Team Assignments I&II 10% (5%X2) Term Project 20% Attendance and Participation 10% Total 100% 2

3 MKT 355 (L1) Marketing Strategies Page 3 Comprehensive team project The general assignment for the course team project is to develop a comprehensive marketing plan for one major product (or service) offered by the client. Your marketing plan should be presented in written form, with any necessary exhibits and appendices. You are expected to pay particular attention to the following criteria: 1. Use of analytical marketing concepts and techniques to analyze the company and its products (Strategic analysis); 2. Degree to which information was sought and attained; 3. Develop company s marketing program/plan/strategies (Strategy creation and refinement); 4. Suggestions for future marketing activities of the company; The purpose of this written term project is to apply the marketing strategy and planning knowledge gained in the course into the company you selected. You are expected to conduct a strategic analysis and develop a strategic marketing plan for the company. Please use our textbook as a guide and data banks and written material available through Lingnan University library system to obtain the necessary data and information. You may choose to follow the strategy development discussion agenda when developing your marketing plan. Strategy Development: A Discussion Agenda (Figure 15.5 in P.277 of the textbook) Customer Analysis Who are the major segments? What are their motivations and unmet needs? Competitor Analysis Who are the existing and potential competitors? What strategic groups can be identified? What are their sales, share, and profits? What are the growth trends? What are their strengths, weaknesses, and strategies? Market/Submarket Analysis How attractive is the market or industry and its submarkets? What are the forces reducing profitability in the market, entry and exist barriers, growth projections, cost structures, and profitability prospects? What are the alternative distribution channels and their relative strengths? What industry trends are significant to strategy? What are the current and future key success factors? 3

4 MKT 355 (L1) Marketing Strategies Page 4 Environmental Analysis What environmental threats, opportunities, and trends exist? What are the major strategic uncertainties and information need areas? What scenarios can be conceived? Internal Analysis What are our costs, strategy, performance, and points of differentiation, strengths, weaknesses, strategic problems and culture? What is our existing business portfolio? What has been our level of investment in our various product markets? Strategy Development What investment level is most appropriate for each product market withdrawal, milking, maintaining or growing? What assets and competencies will provide the basis for an SCA? How can they be developed, maintained, leveraged? What value proposition will be the core of the offering? What are the alternative functional strategies? Project Requirements It is expected that each group member participate effectively in the development of the project. The project (marketing strategy and plan exercise) consists of a formal oral presentation to the class and a written report. Each group will have up to 25 minutes to present, including questions and answers (usually 20 minutes for presentation and 5 minutes for Q&A). There is no specified length for the written report. Make it sure that your recommendations are appropriate and they make business sense. As well, they are to be backed by strategic marketing concepts and techniques we discuss in class. Marking of the Group Project will be determined as follows: Breadth 10% Depth 30% SMART Recommendations 20% Professionalism 10% Presentation 20% Peer Evaluation 10% Group Project Grade 100% Breadth refers to the selection of the most appropriate concepts that apply in the given context. Not every concept discussed in class and in the textbook will be relevant, choose the ones that your group feels are applicable to your client. Discussion of these concepts in a clear, concise and logical fashion is critical for the client to understand the problem appropriately. 4

5 MKT 355 (L1) Marketing Strategies Page 5 Depth refers to the extent to which strategic concepts are discussed and applied in the given context. Supporting research found in academic journals, newspapers, Internet sites, business magazines, trade publications and other external sources will be useful. Recommendations need to be SMART (Specific, Measurable, Achievable, Realistic, and Time-Bound). The number of recommendations is not important. If your group recommends just one action, but that is going to vastly improve the project, then that is ok. However, a complete system of recommendations is probably more likely to have a positive impact. Support that each recommendation is SMART will be useful. Report professionalism helps make good content even better, and can sometimes disguise bad content. Regardless of the quality of your content, the report needs to look like it was worth everyone s time and effort. Therefore, here are some suggestions to make it look nice (but feel free to do more): Color laser printed = Excellent, Laser = Great, Bubble Jet = Good, Dot Matrix = Not so good, Handwritten = Bad Numbered pages Title page Labeled appendices (if necessary) Charts, graphs and images where appropriate Peer Evaluation will be done between members of your group. Peer evaluation form (as shown in Appendices) should be submitted via or in person no later than report due date (in confidence). Each group member MUST evaluate every other group members. If you neglect to evaluate your group members, you will be penalized 2.5% of your own project grade. You may feel free to solicit the instructor s feedback on any aspect of the project as your work proceeds. Attendance and Participation My goal is to work with you to create an active and participative learning environment. What s important: the quality (not the frequency) of your participation, which I ll assess every week. What I expect: you should demonstrate the habits and skills that are important in the work place. This means you should Attend each and every class. Let me know ahead of time if you need to miss class. Please understand that letting me know is a professional courtesy and does not excuse your absence. Show up on time and stay through the end of class. When you arrive late or leave early, you ll always interrupt the discussion. Let me know ahead of time if you 5

6 MKT 355 (L1) Marketing Strategies Page 6 know you ll delay or if you must leave early. Again, this is a professional courtesy and doesn t excuse your absence. Prepare reading assignments in advance. Contribute to the day s discussion. Prepare to discuss all readings and cases in class on the date they are listed. Contribute discussion of newsworthy developments in strategic market management, pertaining to the topics covered in this class. You can follow current development via online, broadcast, or print media sources. Treat your peers and your professor with courtesy and respect. You earn your participation score on the basis of your self-evaluation (5 points) and instructor s evaluation (5 points) at the end of the term. Excellent Contribution (5 points): Has read the readings and/or has completed the exercises prior to the class. Contributes consistently and significantly to class discussions. Backs up contributions with substantial analysis and/or research. Builds on the thinking of others. Actively listens to presentations made in class; asks informed questions. Good Contribution (4 points): Has read the readings and/or has completed the exercises prior to the class. Contributes consistently to class discussions. Backs up contributions with analysis and/or research. Occasionally builds on the thinking of others. No Contribution (2-3 points): Is not prepared for class and/or does not contribute. Repeats what has already been said. Does not build on the thinking of others. Missed class occasionally (less than 5 times). Missed Class and/or Negative Contribution (0-1 points): Missed class without notice more than 5 times. Interrupts or delays class discussion by arriving late or leaving early. Reads or does other work in class. Punctuality, preparedness, professionalism, ethical behavior, and high-quality written and verbal communication are expected. We are preparing you to be high quality business professionals, and this requires that you develop effective habits in your collegiate career. You must take responsibility for your own learning and development, and if necessary you will learn that there are negative and sometimes severe consequences when you fail to uphold these responsibilities and standards. 6

7 MKT 355 (L1) Marketing Strategies Page 7 MKT 355 Course schedule (subject to minor changes and modifications): Week/Dates Topics Reading An Introduction and Overview 1 st week: Jan 21 & 24 Strategic Market Management An Introduction Chapter 1 and Overview Part I: Strategic Analysis - External vs. Internal Analysis 2 nd week: Jan 28 & 31 Customer Analysis & Competitor Analysis Chapter 2&3 3 rd week: Feb 4 4 th week: Feb 14 Market/Submarket Analysis & Environmental Analysis Collecting Company Information from Library System & Project Briefing Chapter 4&5 5 th week: Feb 18 & 21 Internal Analysis Chapter 6 6 th week: Feb 25 & 28 7 th week: Mar 3 & 6 Case Studies for Part I: Apple Daily Newspaper Crisis: The Cut-Throat Price War Part II: Creating and Implementing Strategy Creating Advantage, Synergy and Strategic Philosophies & Alternate Value Propositions Case & Team assignment I; Mid-term Essay Announced Chapter 7&8 8 th week: Mar 10 & 13 Building and Managing Brand Equity Chapter 9 9 th week: Mar 17 & 20 Leveraging the Business & Energizing the Business Chapter 10&11; Mid-term Essay Due on Mar th week: Mar 27 Creating New Business & Global Strategies Chapter 12&13 11 th week: Mar 31 & Apr 3 Case Studies for Part II (A): Medicine East Case & Team assignment II 12 th week: Apr 7 & th week: Apr 14 & 17 Setting Priorities for Business and Brands & Organizational Issues Case Studies for Part II (B): Giordano & Cathay Pacific Airways Chapter 14&15 Cases 14 th week: Apr 21 & 24 Project Presentations 15 th week: Apr 28 Final review & Participation and peer evaluation Written Report Due TBA Final Examination Reading assignments are to be completed prior to and in preparation for class discussion. They are critical to the success of the course and to your comprehension of marketing strategies. Assignments are subject to change as may become appropriate. 7