STRATEGIC MARKETING MANAGEMENT - Spring 2002



STRATEGIC MARKETING MANAGEMENT - Spring 2008

 

COURSE:

MKT 449 Strategic Marketing Management Room: COB 307

Section - 001 MW 2:30 – 4:00 p.m.

 

INSTRUCTOR:

A.J.Otjen Phone: (406) 657-1653 (M) 661-6611 (H) 628-4347 (8:00 to 8:00)

Office: COB 206 Hours: T, TH Noon to 2:30

E-Mail: aotjen@msubillings.edu

COURSE MATERIAL:

You will find your assignments in the Harvard Business Review, which we do have access to:   

 

Prerequisite: MKT 340 Principles of Marketing, MKT 341 Consumer Behavior, MKT 448 Market Research and upper division standing or consent of instructor.

INTRODUCTION:

 

Strategic Marketing Management focuses on the major issues faced by marketing managers as businesses enter a new era of marketing. While a market-driven, customer-oriented strategy remains the driver in strategic market planning, many businesses are focusing on specific areas of concern within strategic marketing. In addition to market assessment, marketing program design, development and implementation, special areas receiving specific attention include innovation, supply chain, and cross-functional integration. All areas consider the changing environment reflected in doing business in an electronic world.

 

Today’s globally competitive environment demands that companies focus on meeting the value requirements of worldwide customers quickly and efficiently if they are destined to survive. Marketing managers must identify rapidly changing customer needs and wants, determine the impact of those changes on customer satisfaction, increase the rate of product innovation, and develop strategies to gain a competitive advantage. This course helps students gain the necessary perspectives of strategic marketing managers.

 

Strategic Marketing Management is the required marketing management capstone course taken by students enrolled in the marketing option of the business administration major. This course challenges students to apply the concepts and theories learned in other marketing courses. The course provides the student with a necessary mix of critical analysis, application, and communication. The topics of diversity, globalization, quality, and entrepreneurship are integrated into the study of marketing management.

 The structure of the class is a case class. Case analysis requires critical evaluation of both facts and logic to allow for effective case discussions. Cases allow learning from written scenarios about company situations and predicaments. These issues are defined and focused by the case writer and/or by questions provided for the case. The major marketing concepts and theories used were introduced in the principles of marketing course and expanded on in various marketing courses.

 

The class is based on the premise that the more actively students participate in the learning process, the more they will retain. The instructor’s role is to facilitate the learning process in an interactive case class. The assigned material will be discussed in class, either by the class as a whole or in team activities. Students are expected to come to class prepared to discuss all assigned cases.

OBJECTIVES:

 

The primary objective is to develop the student’s ability to apply marketing concepts in strategic management. The associated course content objectives identify the topics students are expected to understand and apply. The performance objectives identify the skills students are expected to demonstrate. The mission mandated student competencies/skills address the expected outcomes relative to the mission of the College of Business.

 

Course Content Objectives

The course will apply the marketing body of knowledge. At semester’s end, the “A” student will have demonstrated an ability to analyze and apply the concepts and theories of marketing including:

 

Topic

Understanding Product Life Cycles

Market opportunities, marketing relationships, and development of new products are identified through a keen understanding of product life cycles. The student will demonstrate the ability to understand competition and determine key strategic initiatives based on industry trends and cycles.

Marketing Program Development

Market targeting and positioning strategies for new and existing products set guidelines for the choice of strategies for the marketing mix components. The student will be able to combine product, distribution, price, and promotion strategies to form a new strategy or analyze the existing positioning strategy selected for each market target.

Opportunity and Growth Strategies

How do we identify growth opportunities and determine the best marketing strategy? What directions of growth are best taken from a company’s core business model; and then how do we execute the best strategic challenges for each growth markets. The student will become familiar with the advantages and disadvantages associated in pursuing alternative strategies, and will be able to analyze opportunities resulting in recommendation of possible strategic directions.

Business Models and Strategic Brand Management

Understanding the strategy behind a business brand and success model is essential for deciding the right growth direction. Organizations need a clear understanding of these strengths in order to achieve profit objectives and create sustainable competitive advantages. In the process, developing and managing brand strategies are important initiatives.

Supply Chain Management and Vertical Integration or Alignment

The supply chain extends from suppliers to consumer. Supply chain management seeks to achieve high levels of effectiveness (the chain provided the most effective combination of organizations) and efficiency (operating the supply chain at the highest feasible level of efficiency.)

 

Performance Objectives

 

In addition, by the end of the semester, the “A” student will have demonstrated the following skills:

 

1. Acquisition: The student will have learned concepts, facts, methods, terms and theories of marketing management as demonstrated in case discussions, written case analysis.

 

2.  Comprehension: The student will have demonstrated understanding of the facts, methods, terms, and theories through case analysis.

 

3.  Application: The student will have applied his or her acquired knowledge to actual situations. The responses will be well organized, clearly communicated, and supported with examples as demonstrated in case discussion, written analysis, and class activities.

 

4.  Analysis: The student will be able to classify or disassemble information into its components, understand the relationship between components, and identify the principle(s) that organize structures or systems. Analysis, as a more advanced stage of comprehension, is also called critical or logical thinking. This skill will be demonstrated in the case presentations.

 

5.  Synthesis: The student will be able to utilize accumulated knowledge—disassemble/reassemble—to develop new insights as demonstrated in class and outside case assignments and activities.

 

6.  Evaluation: The student will be able to create and effectively use comprehensive, logical processes of analysis; to identify options; to present arguments and counter arguments; to weigh options; to make recommendations; and to develop action plans as demonstrated in the case presentations.

 

COB Mission Mandated Student Competencies/Skills

 

MKT 449 Strategic Marketing Management will contribute to development of COB student competencies through placement of the following relative emphasis on each of the competencies:

(Scale - 10 [low emphasis] to 50 [high emphasis])

 

• Critical Thinking (50) – the strategic marketing management student will develop and enhance his or her ability to evaluate models, analyze situations, and apply appropriate concepts in discussing strategic marketing management issues and application of theories.

• Oral Communication (50) – the strategic marketing management student will improve his or her oral communication skills through teamwork, questions, debate, and discussion of cases and concepts and will improve his or her writing competency through case analysis and short summary papers.

• Technology (30) – the strategic marketing management student will improve his or her ability to use technology through financial analysis as a part of marketing management. In addition research capability will improve through use of Internet resources to supplement text materials.

• International (30)- the strategic marketing management student will understand international strategy through the analysis of several international cases.

• Ethics (40)- the student will be exposed to ethics through a specific study of the best and worst managers assigned by Business Week magazine.

STUDENT PARTICIPATION:

 

Successful students come to every class and contribute to the learning process. Experience indicates student success is based on keeping current through reading, completing all assignments when due, learning the case process, and actively participating in class activities.

 

PERFORMANCE EVALUATION AND GRADING POLICIES

 

See grades on Calendar attached.

Written Assignments

 

All written assignments are evaluated on content and written communication skills. Word process all papers and staple multiple pages. Good business skills include proof reading, writing in active voice, using correct sentence structure, and clearly communicating ideas. Writing skills are developed with practice and responding to feedback. Students are expected to use the appropriate tools (spell check, etc.) to enhance their ability to communicate in writing. The writing lab, located in the building formerly known as the Computer Annex, is available to help students improve writing skills.

Case assignments in general will be successful if they logically and completely follow this basic formula.

• Where is the company in the product life cycle?

• Based on this, what are their Strengths, Weaknesses, Opportunities, Threats.

• Based on this, what is the best strategic recommendation of Product, Price, Promotion and/or Place.

The key to this formula is

1) a very thorough and accurate analysis of the product life cycle, or cycles depending on their geographic situations

2) a thorough understanding of their internal situation including business model, value proposition and resources, opportunities including picking the best target (segmentation) with feasible and measurable objectives, and a very good analysis of threats or their competition.

3) providing possible alternatives with a clear understanding of cost/benefit.

A common mistake is that students will make a recommendation that has nothing to do with the opportunities that have discussed previously. Or they will make something up in the end without considering the costs versus the benefits. Numbers to quantify these costs and benefits are often provided in the case, if not, they are provided with good research on the internet, and should be developed as far as possible.

The best cases are expected to be outlines. Business executives have very little time to read and you need to learn to communicate as much information as possible with as few words as possible.

Grades

 

Your final grade in the course is determined on a standard academic scale and recorded as follows:

A - 90%+ B – 80% - 89%) C - 70% - 79%

D - 60% - 69% F - Less than 60%

 

GENERAL POLICIES:

 

• Do the right thing.

• Savor the experience.

• All students are expected to be on time to class and remain actively involved in the class for the entire class period. Repeated absences, tardiness, or disruptions through leaving class early will have negative consequences in the final evaluation.

• Cellular phones are to be turned off during the class period.

• Students are asked not to eat during the class period out of respect for others. Drinking coffee, water, etc. during class is acceptable.

• Assignments are due on the scheduled dates. All case material must be submitted at the end of the class period in which the case is discussed.

• Incompletes in the course will follow the university policy as published in the general catalog:

Incomplete “I” Grade: An Incomplete is given only when a student has been in attendance for at least three-fourths of the semester but has been prevented by circumstances beyond his/her control from completing all of the requirements of the course. A student must provide adequate evidence to the instructor as to the reason why he/she was unable to complete the requirements for the course. If a grade of “I” Incomplete has been given, the instructor shall advise the Office of Admissions and Records in writing what the student must do to remove the deficiency.

An Incomplete must be made up within one calendar year. An “I” grade is not included in the computation of the GPA. An Incomplete grade not made up in the prescribed length of time automatically becomes an “F” grade. Once the grade of Incomplete has been converted to an “F” grade, the course must be repeated in order for the grade to be changed.

• Academic misconduct will be handled according to Student Affairs Policies and Procedures, Part IX B.1. (Student Handbook, page 142.)

• Students with documented disabilities, who need academic accommodations, should make an appointment with the instructor as soon as possible.

 

.

|DATE | |ASSIGNMENT | |

|Jan18W |Introduction/Review Assignments |Explanation and expectations of Cases. | |

| 21M |Day of Theories | | |

|23W |Hand out Murphy’s Brewery |Review Product Life Cycles and Growth | |

| | |Opportunities | |

|28M |Product Life Cycle/Growth Strategy |Murphy’s Due (All) |5% of Grade |

|Jan 30W |Segmentation and Positioning |How do you Grow A Premium Brand ( Maruca) |6% of Grade |

|Feb 4M |Hand out BEST/WORST CEO | | |

| 6W |Brands and value |Keeping to the Fairway (Zyman) |6% of Grade |

|11M |Assignment for Mate | | |

|13W |Class canceled for Mate |MATE FEB 14 and 15 | |

|18M |HOLIDAY | | |

|20W |A.J. Out of Town |Five groups Work on mate | |

|25M | |Present Mate |10% of Grade |

|27W |Building Competitive advantage |The Global Brand Face-Off (Raman) |6% of Grade |

| Mar 4-6 |Spring Break | | |

|10 M | | | |

| 12W | |BEST/WORST CEO Presents |10% of Grade |

|17 M | |BEST/WORST CEO Presents |10% of Grade |

|19W |Pricing and Distribution Strategies |A Rose by Any Other Name (Stone) |6% of Grade |

|24M | | | |

|26W |Quantifying Growth Opportunities |Can this Brand Be Saved (Maruca) |6% of Grade |

|31M | | | |

|Apr 2 W |Understanding Business Models |The Profitless PC (BlackBurn) |6% of Grade |

|7M |A.J. is Out of Town | | |

|9W |Long Term Relationships |When New Products and Customer Loyalty |6% of Grade |

| |Present PC |Collide (Maruca) | |

|14M | | | |

|16W |Supply Chain/Vertical Marketing |A Pain in the Supply Chain (Butman) |6% of Grade |

|21M |Class canceled to attend NILE |NILE 18-20 | |

|23W | |Present Pain Work On Nile | |

|28M | |Present Nile |10% of Grade |

|30W |Go out in Community | | |

Finals Week Community Theory Essay Due 15 % of Grade

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MKT449 Strategic Marketing Management –Spring 2006

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