Marketing Strategy 466-71



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Marketing Strategy

466 61/62

Fall 2005

Instructor: Tim Calkins Updated: 7/26/2005

Phone: (847) 467-3209

E-Mail: t-calkins@kellogg.northwestern.edu

Office: Jacobs 498

Course Description

The marketing strategy course is focused on helping you become strategic marketing leaders, so that you can create, gain support for and execute strategic marketing plans that will build strong, profitable and enduring brands and businesses.

The course builds on the material covered in 430 and other marketing classes; the course reinforces those learnings and introduces new concepts.

The course is certainly valuable for people who plan to go into marketing. It is also useful for people who are going into finance, strategy, operations and other functions. The course takes a broad view; every function is involved in marketing strategy.

The course is broken into five sections or modules.

Module A: Core concepts. This section covers some marketing strategy basics, including why marketing strategy matters, customer advantage and strategic marketing plans. The section includes a review of positioning and differentiation, and highlights the role and importance of brands.

Module B: New business strategy. In this section, we focus on strategies for new business creation, including strategies for established and emerging categories.

Module C: Established business strategy. This section focuses on strategies to grow established businesses, including margin strategies, core business growth strategies and new product strategies.

Module D: Defensive strategy. In this module, we look at defensive marketing. We review why defense is needed and how to develop defensive strategies.

Module E: Pulling it together. In the last part of the course we look integrating all the parts. This includes a section on portfolio strategy and student marketing plan presentations.

The class includes cases, readings, and a computer-simulation, Markstrat.

Marketing strategy is a challenging course. In particular, the Markstrat simulation requires a substantial time commitment. However, the class is a valuable learning experience; the material will help you analyze and understand businesses, develop and gain support for marketing plans and ultimately deliver strong business results.

Course Requirements

Teams

Most of the class assignments are completed in teams. We will form teams early in the semester. Team size depends on class enrollment, as we have to get to 10 or 15 teams for the simulation.

As part of the evaluation process, group members grade each others participation. These grades play an important role in the determination of final grades. Weak team feedback can and generally will reduce a student’s grade by one full letter.

Class Participation (15% of class grade)

Class participation is critical to the success of the course, as the quality of the discussion is largely in your hands. Cold-calls are not uncommon. Please plan to attend all classes and to arrive ready for the case or discussion. In addition, please plan to stay for the entire class. I will do my best to start and end on time. In week 2 I’ll send around a seating chart.

Computers are not allowed to be used in class. Surfing seems to be an inevitable and unfortunate result, and it is distracting for everyone.

Markstrat-Team (45% of class grade)

Each team will be assigned a Markstrat company to manage. Your task will be to set objectives, develop strategies to achieve those objectives, and implement your strategies with appropriate tactical decisions over the course of the semester.

Teams develop three business updates during the semester. The first two are written, the third is a presentation to the class. The first two updates count for 10% of the class grade and the third update counts for 20% of the class grade.

Actual Markstrat results count for 5% of the class grade.

Case Analyses-Team (20% of class grade)

Each team will do three case analyses. The FluMist and Steinway assignments count for 5% of the class grade, the Marlboro assignment counts for 10%. Two teams will present the Marlboro case, and the rest of the teams will complete the write-up. Early in the semester, I’ll determine which teams will present the Marlboro case.

Final Assignment-Team (20% of class grade)

For the final assignment, students will develop a marketing plan for a company or organization of your choice. The paper should not exceed four pages including exhibits, and should include the one page marketing plan summary discussed in class.

Course Administration

I am on campus most days and happy to meet to discuss the course, Markstrat, careers and life…just call or send an email to set up some time.

I will be using Blackboard to post announcement, class notes and other materials. Please check Blackboard regularly for updates.

The attached schedule shows the class plan, with topics, assignments and readings. The class schedule will almost certainly change during the semester due to pacing and guests. The latest schedule is always posted on Blackboard.

Readings

Larreche and Gatignon, MARKSTRAT Online Student Handbook (StratX 2003)

This is a required book; you can’t play the Markstrat simulation without it. So please purchase this book promptly.

Case packet

I’ve pruned the reading and case material down substantially over the years, as Markstrat takes so much time. As a result, completing the required readings for each class is important.

Walker, Mullins, Boyd and Larreche, Marketing Strategy (5th edition, 2006).

This text provides a more academic review of the concepts we’ll discuss. Given the size of the case packet and other work in the course, however, I’ve made it optional reading.

Kellogg School of Management

Marketing Strategy

Fall, 2005

7/26/2005

Session Topics Assignments for this Class

1: 9/22 Introduction to marketing strategy Read: Syllabus

Course overview

2: 9/26 Marketing for customer advantage Complete: Register for markstrat

Submit: Team rosters

Read: Brand Positioning

Read: Marketing Leverage in the F of R

Read: Text, chapter 7 (optional)

3: 9/29 Introduction to Markstrat Read: Markstrat Online Student Handbook

4: 10/3 FluMist case Prepare: FluMist case

Submit: Case analysis 1

MS decision 1 due 10/4, midnight

5: 10/6 Developing great marketing plans Read: Developing great marketing plans**

6: 10/10 New business strategy-established Read: Market Driving Strategies

Read: Text, chapter 8 (optional)

MS decision 2 due 10/11, midnight

MS update 1 due 10/11, midnight

7: 10/13 No class: team meetings Attend: Team meetings 10/12 and 10/13

8: 10/17 New business strategy-emerging Read: First Mover Advantages

Read: Do you always….?

MS decision 3 due 10/18, midnight

9: 10/20* EMI Case Prepare: EMI Case

10: 10/24 Established business strategy-1 Read: The Image and the Brand

MS decision 4 due 10/25, midnight

MS update 2 due 10/25, midnight

11: 10/27 Established business strategy-2 Read: Extend Profits, Not Product Lines

Read: Text, chapters 9 and 10 (optional)

12: 10/31 Marlboro case Prepare: Marlboro case

Submit: Case analysis 2

MS decision 5 due 11/1, midnight

13: 11/3* Barco case Prepare: Barco case

14: 11/7 Defensive strategy Read: Why Good Companies Go Bad

Read: Meeting the Challenge

MS decision 6 due 11/8, midnight

15: 11/10 A.1. case Prepare: A.1. case

16: 11/14 Portfolio strategy Read: Brand Portfolio Strategy

Penfolds case Read: Kill a Brand, Keep a Customer

Prepare: Penfolds case**

MS decision 7 due 11/15, midnight

17: 11/17 Steinway case Prepare: Steinway case

Submit: Case analysis 3

18: 11/21 Markstrat presentations Prepare: Presentations

19: 11/28 Markstrat presentations Prepare: Presentations

20: 12/1 Markstrat debrief

Course summary

Final assignment due 12/7

** Not in the case pack: will be handed out during the semester

Kellogg School of Management

Marketing Strategy

Markstrat Assignments

Markstrat Management Update 1

Provide management with a marketing plan for your company, not to exceed 4 pages including exhibits. Plans should be clear, focused and convincing.

Updated should include: -Objectives: Your goals for the 7 periods, including profit

-Strategies: Key initiatives to deliver your objectives

-Plans: Plans to execute against your strategies

Markstrat Management Update 2

Provide senior management with an update on your progress to date, not to exceed 4 pages including exhibits. Plans should be clear, focused and convincing.

Updates should: -Link back to your initial objectives and strategies

-Highlight drivers of your results

-Lay out your plan going forward

Markstrat Management Update 3

Prepare a presentation for management to review your progress to date and plans going forward. Presentations should be 10 minutes in length. There will be additional time for questions.

Presentations should: -Link back to your objectives and strategies

-Highlight key drivers of your results

-Lay out your plan going forward

Kellogg School of Management

Marketing Strategy

Case Assignments and Questions

FluMist Case: Assignment 1

Recommend positioning statement for FluMist, using the standard positioning format. Explain why your recommended positioning makes sense, in no more than one page.

I will invite two teams to present a recommended positioning, so please have someone on your team ready to present to the class.

EMI Case: Discussion Questions

1. How well is EMI doing at the time of the case (1976)? What is going well? What are the biggest concerns?

2. What was EMI’s entry strategy into the CT Scanner market? Was it a good strategy?

3. What should EMI do now?

Marlboro Case: Assignment 2

Answer the following question: Was the Marlboro strategy rolled out by PM a good idea? Why or why not?

Two teams will present this assignment; the rest will complete a 4 page paper, including exhibits. Excellent papers and presentations will put forth a clear position and provide strong support.

Barco Case: Discussion Questions

1. What has been Barco’s strategy? How well has it worked?

2. Why is Sony launching the 1270?

3. What should Barco do now?

A.1. Case: Discussion Questions

1. Should A.1. defend? Why or why not?

2. If so, what precisely should the team do?

Penfolds Case: Discussion Questions

Should Penfolds restructure its brand portfolio? If so, what specifically should it do? Why?

Steinway Case: Assignment 3

Should the new owners of Steinway invest in the Boston brand? Why or why not? In no more than two pages, answer the question and provide your rationale.

Kellogg School of Management

Marketing Strategy

Group Evaluation Form

Please list below each member of your group. For each person, assign a grade (A, B, C, D, F) that reflects their overall contribution to the group’s output. Please consider the quality and quantity of their work. Responses are confidential, and can have a substantial impact on final class grades. Feel free to provide comments.

Your name:

Your team (industry and color):

Team Member Grade

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Comments:

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