Lecture: Strategic Management



İSTANBUL TECHNICAL UNIVERSITY

MASTER’S –STRATEGIC MARKETING MANAGEMENT

Spring 2009

Assist. Prof. Dr. Ayşe Banu Elmadağ Baş

Email: elmadaga@itu.edu.tr

Home Page:

Office Hours: Thursday 12:00-13:00

Text Book: David W.Cravens &Nigel F.Piercy, Strategic Marketing; Mc Graw-Hill ,2003,7th Edition.

Introduction

This course views marketing as both a general management responsibility and an orientation of an organization. Relatively less attention will be given to the specific activities of the marketing department, sales group, or advertising function in implementing strategic decisions.

We will take the viewpoint of the general manager and the senior marketing executive to address the issues of:

➢ Formulating segmentation and focus strategies

➢ Understanding, attracting and keeping valuable customers

➢ Positioning the business to achieve an advantage over competitors

➢ Identifying and exploiting growth opportunities

➢ Allocating resources across businesses and segments

➢ Managing the channels for gaining access to the served markets, and

➢ Aligning the organization to changing market requirements.

The course will use a mix of cases, lecture/discussion, and group projects. This material will be integrated throughout the course with four over-riding themes. First, that successful market strategies deliver superior customer value; second, that successful implementation of these strategies requires a high level of market orientation – a market-driven firm has superior skills in understanding, attracting, and keeping customers; third, that the internet will transform most markets by introducing new business models and enabling personalization of offerings; and fourth, that the market arena in which the strategies are implemented is increasingly global.

Objectives

Your basic objective is to develop your own understanding and management skills. My primary objective is to stimulate this process. Specifically, the course will attempt to help you develop your knowledge and skills in the application of advanced frameworks, concepts, and methods for making strategic choices at the business unit level. At the end of the course, you should have a working knowledge of the approaches that organizations use to resolve market strategy issues.

Course Format:

The instructional approach consists of a blend of interactive lectures, case studies, student presentations. The course emphasizes learning by going as opposed to passive listening with the idea that we internalize rather than memorize marketing related issues. Hence, rather than rehashing concepts developed in the readings, class sessions will be devoted to probing, extending and applying the course material. Preparation and participation by students are an essential part of the course. The course also involves substantial team work where students are expected to develop effective interactive skills and learn to present persuasive oral and written reports.

Course components:

Weekly syntheses: Each student will participate in the discussion of the articles assigned for the week. A 1,5-spaced typewritten report of no more than 5 pages (excluding appendices, tables, exhibits, etc.) should be submitted by each student at the beginning of class on the day the articles are discussed. Late assignments will not be accepted. Having submitted at least 5 syntheses is a requirement to be able to get a final grade.

Case Presentations: Students will be assigned to present an independent analysis of each case. Presentations should be targeted at 20-30 minutes (to allow questions). The class will act as the “Board of Directors” evaluating the “problem solving teams”.

The case assignments will require active participation of each student in the analysis of each and every case, in the development of an action plan, and the preparation of materials (overheads, slides, handouts) to assist the student in making an effective presentation to the entire class.

Development of a Research Proposal: You will be required to develop a research proposal along the lines of a thesis proposal. The proposal should address a specific problem in the area of strategic marketing planning. The structure of the proposal should be as follows:

1. Introduction – An overview of the proposed research

2. Literature Review – Review and discuss the related concepts, principles, theory and empirical studies.

3. Description of the proposed research – includes:

a. Study rationale

b. Research objectives

c. Theory development

d. Generalizations and propositions

e. Statement of hypotheses

f. Research design

g. Model Specification

h. Intended statistical tests

4. References

Class Attendance and Participation: Each class meeting is treated as professional commitments. Each is expected to come prepared to contribute to class discussions for all cases and readings/articles. An unexcused absence is considered as unprepared. Please let me know before class if you are unable to attend or not prepared to participate fully.

Students are expected to participate in class discussions, as called upon by the instructor, and on a voluntary basis. The participation grade is based on the quality of participation components in every single class.

Plagiarism & Copied Papers:

Unethical and dishonest practices will not be tolerated. Plagiarism, copied papers and cheating are such offences. Papers condemned on these grounds will receive a zero mark without an opportunity to submit them. Students who copy each other’s papers are engaged in a form of cheating and the original, as well as all copies, of a paper will be awarded a mark of zero.

Evaluation:

Syntheses: 40%

Case Presentations: 10%

Research Proposal: 50%

Course Outline

|Week |Dates |Lecture |Articles & Cases |

|1 |Feb 2 | Scope of Strategic | |

| | |Marketing Management | |

|2 |Feb 23 |Introduction to Market |Case 1 Apple |

| | |Driven Strategy , |Hamel, Gary; Prahalad, C. K. “Strategic Intent” Harvard Business Review, Jul/Aug 2005, Vol. |

| | |Ch 1 Business and |83 Issue 7/8, p148-161 |

| | |Marketing Strategies |Day, George S. 1994. "The Capabilities of Market-Driven Organizations". Journal of Marketing|

| | |Ch 2 |58 (October): 37-52 |

| | |Market Orientation |Grönroos, C. (1989), "Defining marketing: a market-oriented approach", European Journal of |

| | | |Marketing, Vol. 23 No.1, pp.52-60. |

| | | |Hagel, John II; Brown, John Seely; Davison, Lang. (2008). Shaping strategy in a world of |

| | | |constant disruption. Harvard Business Review, 85(10), 81-90. |

| | | |Mankins, Michael C. and Richard Steele, Turning Great Strategy into Great Performance, |

| | | |Harvard Business Review, July-August 2005, 65-72 |

| | | |Lockett, A.; Thompson, S.; Morgenstern, U.(2009)., "The development of the Resource-Based |

| | | |View of the firm: A critical review", International Journal of Management Reviews,11 (1), |

| | | |9-28 |

| | | |Kohli, Ajay K.ve Bernard J. Jaworski, (1990),``Market Orientation: The Construct, Research |

| | | |Propositions, And Managerial İmplications’’, Journal of Marketing, Vol. 54, April, 1-18. |

| | | |Narver, John C. ve Stanley F. Slater (1990), ``The Effect Of A Market Orientation On |

| | | |Business Profitability’’, Journal of Marketing, Vol. 5, October, ss. 20-35. |

|3 |Mar 2 |Market Vision, Structure |Case2 - Fashion Channel |

| | |and Analysis Ch 3 |Anderson, Paul F., (1982) 'Marketing, strategic planning and the theory of the firm,' |

| | |Segmenting Markets Ch 4 |Journal of Marketing, 46, 15-26. |

| | | |Day, G.S. and Wensley, R., (1988). Assessing advantage: A framework for diagnosing |

| | | |competitive superiority, Journal of Marketing, 52, 2, 1-20 |

| | | |James C. Collins and Jerry I. Porras (1996) “Building Your Company’s Vision”, Harvard |

| | | |Business Review, Sept-Oct, 65-77. |

| | | |David J. Collis and Cynthia A. Montgomery (2008) “Competing on Resources” ”, Harvard |

| | | |Business Review, July-August, 140-150 |

| | | |Michael E. Porter and Mark R. Kramer (2006), “TheLink Between Competitive Advantage and. |

| | | |CorporateSocial Responsibility” Harvard Business Review December, 78-92. |

| | | |Donald Sull (2009) “to Thrive in Turbulent Markets” Harvard Business Review February, 78-88.|

| | | |Michael E. Porter (2008) “The Five Competitive Forces That Shape Strategy” Harvard Business |

| | | |Review January, 79-93. |

| | | |Hunt, Shelby D. and Robert M. Morgan (1995), "The Comparative Advantage Theory of |

| | | |Competition," Journal of Marketing, Vol. 59 (April), pp. 1-15 |

| | | |Jayachandran, S., Gimeno, J., Varadarajan, P.R. (1999) The theory of multimarket |

| | | |competition: A synthesis and implications to marketing strategy. Journal of Marketing, July,|

| | | |vol. 63 No 3, pp 49-66 |

|Week |Dates |Lecture |Articles & Cases |

|4 |Mar 9 |Continuous Learning about |Bell, S.J., Whitwell, G.J. and Lukas, B.A. (2002) "Schools of thought in organizational |

| | |Markets |learning." Journal of the Academy of Marketing Science, 30(1): 70-86 |

| | |Chapter 5 |Day, George S. (1994), “Continuous Learning About Markets”, California Management. Review, |

| | | |36 (Summer), 9-31. |

| | | |Dickson, P.R., Farris, P.W., Verbeke, W.J.M.I. (2001), "Dynamic strategic thinking", Journal|

| | | |of the Academy of Marketing Science, Vol. 29 No.3, pp.216-37 |

| | | |Fiol, C. Marlene; Marjorie A. Lyles. (1985)“Organizational Learning” The Academy of |

| | | |Management Review, Vol. 10, No. 4, pp. 803-813 |

| | | |Kotler, Philip, Neil Rackham, and Suj Krishnaswamy (2006) Ending the war between sales and |

| | | |marketing Harvard Business Review, July-August, 68-78. |

| | | |Garvin, D., Edmondson, A., and Gino, F. (2008). Is Your Organization a Learning |

| | | |Organization? Harvard Business Review, March, 109-116 |

| | | |Edmondson, Amy C. (2008) "The Competitive Imperative of Learning." HBS Centennial Issue. |

| | | |Harvard Business Review 86, 7/8 (July – August): 60-67. |

| | | |Kishore Sengupta, Tarek K. Abdel-Hamid, and Luk N. Van Wassenhove (2008) “The Experience |

| | | |Trap” Harvard Business Review, February, 94-101. |

| | | |Leslie, Mark and Charles A. Holloway (2006) "The Sales Learning Curve,", Harvard Business |

| | | |Review, July–August, 115-123 |

| | | |Sinkula, J.M. (1994), ``Market information processing and organizational learning'', Journal|

| | | |of. Marketing, Vol. 58, January, pp. 35-45 |

|5 |Mar 16 |Designing Market Driven |Case 3- Harley Davidson |

| | |Strategies |Bolton R.N. and M.B. Myers, Price-based global market segmentation for services. Journal of |

| | |Market Targeting and |Marketing 67 (2003), pp. 108–129 (July) . |

| | |Strategic Positioning |Dickson, P.R., Ginter, J.L. (1987), "Market Segmentation, Product Differentiation, and |

| | |Chapter 6 |Marketing Strategy", Journal of Marketing, Vol. 51 No.April, pp.1-10. |

| | | |Anderson, James C., James A. Narus, and Wouter van Rossum, (2006) "Customer Value |

| | | |Propositions in Business Markets," Harvard Business Review, March, 90 – 99. |

| | | |Selden, Larry and Ian C. MacMillan (2006) "Manage Customer Centric Innovation" Harvard |

| | | |Business Review, April, 108-116. |

| | | |D'Aveni Richard A. (2007) "Mapping Your Competitive Position," Harvard Business Review, |

| | | |November, 110-120 |

| | | |Yankelovich, Daniel, David Meer (2006) "Rediscovering Market Segmentation" Harvard Business |

| | | |Review, February, 122-131. |

| | | |Zaltman, Gerald and Lindsay Zaltman (2008) "The Sure thing that flopped" Harvard Business |

| | | |Review, July-August, 29-37. |

|6 |Mar 30 |Relationship |Case 4- Rosewood Hotels |

| | |Strategies |Bolton, R., Lemon, K.N. & Verhoef, P.C. (2008). Expanding business-to-business customer |

| | |Chapter 7 |relationships: modeling the customer's upgrade decision. Journal of Marketing, 72(1), 46-64.|

| | | |Boulding, William, Richard Staelin, Michael Ehret, and Wesley J. Johnston (2005), "A CRM |

| | | |Roadmap: What We Know, Potential Pitfalls, and Were to Go," Journal of Marketing, 69 (4), |

| | | |155-66. |

| | | |Palmatier, Robert W., Rajiv P. Dant, Dhruv Grewal, and Kenneth R. Evans (2006), “Factors |

| | | |Influencing the Effectiveness of Relationship Marketing: A Meta-Analysis,” Journal of |

| | | |Marketing, 70 (October), 136-153 |

| | | |Payne, Adria, and Penni Frow (2005), “A strategic framework for customer relationship |

| | | |management”, Journal of Marketing, 69 (4), 167-176 |

| | | |Jayachandran, Satish, Subhash, Sharma, Peter Kaufman, and Pushkala Raman (2005). “The Role |

| | | |of Relational Information and Technology Use in Customer Relationship Management.” Journal |

| | | |of Marketing,Volume 69,177-192 |

| | | |Narayandas, Das. "Building Loyalty in Business Markets." Tool Kit. Harvard Business Review |

| | | |83, no. 9 (September 2005): 131-139 |

| | | |Davenport, Thomas H and Jeanne G. Harris (2007) The Dark Side of Customer Analytics, Harvard|

| | | |Business Review, May, 37-48 |

| | | |Gulati, Ranjay, and James Oldroyd. "The Quest for Customer Focus." Harvard Business Review |

| | | |83, no. 4, 92-101 |

| | | |Xavier Drèze, Joseph C. Nunes, (2006), "Your Loyalty Program Is Betraying You", Harvard |

| | | |Business Review, April, 124-31. |

| | | |Hanssens, D. M., D. Thorpe and C. Finkbeiner. (2008). “Marketing When Customer Equity |

| | | |Matters,” Harvard Business Review, May, 117-123 |

| | | |Mittal, Vikas, Matthew Sarkees, and Feisal Murshed (2008) “The Right Way to Manage |

| | | |Unprofitable Customers” Harvard Business Review April, 94-102 |

|Week |Dates |Lecture |Articles & Cases |

|7 |Apr 6 |Planning For New Products |Case 5- Google |

| | |Chapter 8 | |

|8 |Apr 13 |Strategic Brand Management|CASE 6— Adidas |

| | | | |

| | |Chapter 9 | |

|9 |Apr 20 |Services Marketing | |

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