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Course 2018-2019 a.y.

20506 - MARKETING DECISIONS

IM
Department of Marketing

Course taught in English


Go to class group/s: 6 - 7

IM (6 credits - II sem. - OB  |  ING-IND/35)
Course Director:
JOACHIM VOSGERAU

Classes: 6 (II sem.) - 7 (II sem.)
Instructors:
Class 6: JOACHIM VOSGERAU, Class 7: JOACHIM VOSGERAU


Prerequisites

To feel comfortable in this course students should be familiar with basic statistics.


Mission & Content Summary
MISSION

Marketing Decisions is an advanced course in strategic marketing decision making to grow a company. The course takes the perspective of the Chief Marketing Officer (CMO) who focuses on understanding markets and their competitive dynamics. The most effective way to practice marketing decision making is the same way that pilots learn to fly a plane: by computer simulation. Attending students apply the knowledge, concepts and tools from the course by developing and implementing a growth strategy for their own company using the MARKSTRAT business simulation. MARKSTRAT is the world’s leading marketing simulation designed to teach strategic marketing decision making in a “learning-by-doing” approach. Your team represents a company facing several other firms in a highly competitive environment, marketing two types of durable goods to consumers. Marketing strategy is your main area of responsibility, but you are also concerned with financial matters, production planning, and R&D. You have to integrate these various dimensions of business strategy into a long-term perspective in order to gain an edge on competition. Part of your grade is based on your company’s final stock price index in the Markstrat simulation.

CONTENT SUMMARY
  • Strategic marketing decision making.
  • Market analysis.
  • Competitor analysis.
  • Analysis of the business environment.
  • Design, implement, and evaluate marketing strategies.
  • Marketing mix: pricing, products, targeting and positioning, distribution, innovation and launch of new products.
  • Understanding and interpretation of market research tools.
  • Consumer reports.
  • Perceptual maps.
  • Multidimensional scaling.
  • Conjoint analysis.

Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • See and sense market changes and forces and anticipate actions and reactions from customers, competitors, and other relevant players (strategic thinking).
  • Design, implement, and evaluate marketing strategies through the use of marketing concepts such as pricing, positioning, targeting, and innovating.
  • Understand and interpret market research tools such as consumer reports, perceptual maps, multidimensional scaling, and conjoint analysis.
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
  • See and sense market changes and forces and anticipate actions and reactions from customers, competitors, and other relevant players (strategic thinking).
  • Design, implement, and evaluate marketing strategies through the use of marketing concepts such as pricing, positioning, targeting, and innovating.
  • Understand and interpret market research tools such as consumer reports, perceptual maps, multidimensional scaling, and conjoint analysis.

Teaching methods
  • Face-to-face lectures
  • Exercises (exercises, database, software etc.)
  • Individual assignments
  • Group assignments
  • Interactive class activities (role playing, business game, simulation, online forum, instant polls)
DETAILS

To enhance the learning experience the Markstrat simulation is used. Markstrat teams are further required to hand in a strategic marketing plan at the beginning of the Markstrat simulation, and a team report/presentation at the end of it, in which they reflect on what they have learned in the Markstrat simulation.


Assessment methods
  Continuous assessment Partial exams General exam
  • Written individual exam (traditional/online)
  •     x
  • Individual assignment (report, exercise, presentation, project work etc.)
  • x    
  • Group assignment (report, exercise, presentation, project work etc.)
  • x    
    ATTENDING STUDENTS

    For attending students, grades are determined based on their performance in the following components:

    • Markstrat performance (your companies final SPI; team grade).
    • Strategic Marketing Plan (team assignment)
    • Team report & presentation (every team member needs to present).
    • 2 in-class Markstrat exercises (individual assignments).
    NOT ATTENDING STUDENTS

    Exam based on course textbook.


    Teaching materials
    ATTENDING STUDENTS
    • Markstrat Participant Handbook. The handbook is available on blackboard.
    NOT ATTENDING STUDENTS
    • Chernev, Alexander. Strategic Marketing Management. 9th ed. Cerebellum Press, 2018.
    Last change 07/02/2019 12:31