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STANFORD GRADUATE SCHOOL OF BUSINESS MKTG 249 Marketing ... STANFORD GRADUATE SCHOOL OF BUSINESS MKTG 249 Marketing ... Document Transcript

  • STANFORD GRADUATE SCHOOL OF BUSINESS MKTG 249 Marketing Management - Fall 2009 Professor Michaela Draganska Office: L342 Phone: (650) 724-1390 Email: draganska_michaela@gsb.stanford.edu Faculty Assistant: Barbara McCarthy Office: L218 Phone: (650) 725-3981 Email: mccarthy_barbara@gsb.stanford.edu Introduction The goal of this course is to introduce you to the essentials of marketing management: how firms and customers behave and the strategies and methods that marketers can use to operate successfully in today's dynamic environment. Specifically, the course goals are: To introduce the key elements of marketing management To provide a sound framework for identifying, analyzing, and solving marketing problems To enhance your leadership, analytical, and communications skills Course Materials Cases in course reader and on CourseWork Strategic Marketing Management, 2009, by Alexander Chernev, Brightstar Media, Inc. Course organization The course involves a mixture of case discussions and lectures, with an emphasis on developing an analytical approach that will enable students to (1) understand the environment in which a company operates and identify opportunities and threats, (2) identify and solve marketing problems, and (3) develop actionable marketing plans. Teamwork is an essential component of case analysis. Groups will be assigned during the first week of class. Students should be prepared to discuss the assigned cases in detail. Expect to invest significant amount of time in this course. The actual preparation time depends on you and your group. Most cases take about 4-6 hours to prepare, 3-4 hours of which are typically allocated for individual preparation and 1-3 hours for group discussions (2-5 hours for cases requiring written analysis). Two group case write-ups are required: Calyx Flowers and Nestle Pizza. The case assignment format is designed to enhance your analytical skills and your ability to communicate ideas in a clear, succinct, and persuasive manner. Case write-ups are due by 1:00 PM the day before the class in which the case is discussed. Late cases will not be accepted. Please anticipate scheduling conflicts and submit early if necessary. There will be also two individual assignments (quantitative assignment and Gilette Fusion case write-up). When indicated, use the case writeup template posted on CourseWork to write your analysis (1,000 words max, excluding the exhibits). All cases are to be submitted by
  • email to gsbmktg249-autumn@gsb.stanford.edu as attachments labeled as follows: [group name]_[Case]. For example, MarketingMavericks_Calyx. To ensure equal participation in group projects, team members have the opportunity to evaluate each other's performance using the team evaluation form posted on CourseWork. Evaluation of Student Work Assignment Type % of grade Due by Quantitative assignment individual 10% Oct. 1 @ 3PM Calyx case write-up group 20% Oct. 7 @ 1PM Nestle Contadina case write-up group 20% Oct. 26 @ 1PM Gillette Fusion case write-up individual 30% Dec. 2 @ 1PM Please note that the due dates are sometimes different from the session dates! Late assignments will not be accepted. Case write-ups are graded on a scale from 0 to 100. Scores are interpreted as follows: 100 Perfect 90 - 99 Outstanding 80 - 89 Excellent 70 - 79 Very good 60 - 69 Good 50 - 59 Fair 40 - 49 Mediocre 30 - 39 Poor 20 - 29 Very poor 10 - 19 Terrible 00 - 9 Abysmal Class contribution accounts for 20% of the course grade. It reflects the degree to which a student contributes to the discussion and is not simply a function of the amount of "air time" he/she takes up. Class attendance is a necessary but not sufficient condition for participation. Keep in mind that your grade is not always a perfect indicator of your potential marketing skills; it simply reflects your performance on the set of specific tasks outlined above. Classroom Etiquette To provide an optimal learning experience, students should refrain from activities that are likely to distract others. Students are expected to remain in the classroom for the duration of the class. If a student must depart early due to unavoidable circumstances, the student should inform the instructor before class. Leaving and re-entering the class is not permitted except in the event of an emergency. Honor Code Written cases are to be prepared as specified either individually or by group members only. The cases are not to be discussed with out-of-group members. No outside case-related resources should be used for case analysis; you must rely only on the information provided in the case.
  • Schedule Overview Session Date Topic Due Module 1: The Big Picture 1 22-Sep Introduction 2 24-Sep Lecture: The marketing framework 3 29-Sep Case: Aqualisa Quartz Lecture: A systematic approach to marketing quantitative assignment 4 1-Oct planning (individual) Module 2: Understanding Markets 5 6-Oct Lecture: Segmentation and targeting 6 8-Oct Case: Calyx Flowers case write-up (group) Lecture: Building a powerful brand (guest 7 13-Oct speaker from Method) 8 15-Oct Lecture: Developing a value proposition 9 20-Oct Case: Datril 10 22-Oct Case: Southwest Conquistador Beer Module 3: Managing Value 11 27-Oct Case: Nestle Contadina case write-up (group) 12 29-Oct Lecture: Product and brand management 13 3-Nov Case: Optical Distortion, Inc. 14 5-Nov In-class exercise: Optimal Pricing Module 4: Managing Communications 15 10-Nov Lecture: Managing Communications 16 12-Nov Case: Hasbro POX Lecture: Social media and advertising (guest 17 17-Nov speakers) Module 5: Managing Sales Growth 18 1-Dec Case: Unilever Brazil 19 3-Dec Case: Gillette Fusion case write-up (individual) 20 4-Dec Discussion: Lessons Learned
  • MODULE 1: THE BIG PICTURE This module introduces the concept of marketing as an integrative discipline and discusses the role of strategic marketing analysis in developing a business strategy and solving business problems. We introduce the core notions of economic value analysis (EVA) and value management. The concepts are illustrated using the Aqualisa and Levi’s cases. The first session will also cover various organizational and course management issues, such as providing students with a clear understanding of the structure of this course, assignments, evaluation, and feedback mechanisms. Session 1: September 22 Prepare:  Read the course syllabus  To get a head start on the financial concepts commonly used in marketing (and the quantitative assignment), read Chapter 26 from Strategic Marketing Management ________________________________________________________________________ Session 2: September 24 Lecture: The Marketing Framework Prepare:  Read SMM, chapter 1 ________________________________________________________________________
  • Session 3: September 29 Case: Aqualisa Quartz Key discussion question:  What course of action should Harry Rawlinson take? Analysis questions:  What is the nature of the sales and purchase process for new and replacement showers int he U.K.? How is the market segmented?  What is the Quartz value proposition to consumers? To plumbers? To the distribution channel?  Why is the Quartz shower not selling as well as Aqualisa had hoped? Is the Quartz shower just a niche product?  What should Rawlinson do to generate sales momentum for the Quartz product? Specifically, who or what segments of the market should he target? How should he go about conveying the value proposition to these targets? Should he consider lowering the price? What sales channels should he use? Prepare:  Case questions for discussion (submit a solution)  Read SMM, chapter 3 ___________________________________________________________________________ Session 4: October 1  Lecture: A systematic approach to marketing planning Prepare:  Read SMM, chapters 2 and 4  Submit quantitative assignment (individual) ___________________________________________________________________________
  • MODULE 2: UNDERSTANDING MARKETS The focus of this module is on how to identify the "ideal" customers and develop a sustainable value proposition for these customers. The core concepts of segmentation, targeting, and positioning (STP) are introduced. We use the Calyx Flowers and Datril cases to illustrate some of the key principles of customer, company, and competitive analysis. The module ends with a discussion of the role of market research in managerial decision making. Session 5: October 6 Lecture: Segmentation and targeting Prepare:  Read SMM, chapter 7 ___________________________________________________________________________ Session 6: October 8 Case: Calyx Flowers Key discussion question:  Identify the key problem for Calyx Flowers and propose a course of action. Your solution can be one of the solutions discussed in the case or you can propose an alternative solution. Analysis questions:  Which attributes are important to people when they buy flowers?  Is the flower market homogeneous or are there different customer segments? If yes, what are these segments? How do they vary in their motivation for buying flowers?  To which segment can Calyx Flowers deliver superior value relative to the competition?  How should Calyx Flowers reach its target customers? Prepare:  Submit group case write-up. Identify the key problem for Calyx Flowers and propose a course of action. Your solution can be one of the solutions discussed in the case or you can propose an alternative solution. Use the Calyx Case Analysis Template to write up your analysis.  Case questions for discussion (submit a solution). ___________________________________________________________________________ Session 7: October 13 Lecture: Building a powerful brand (Michele Hall, Method) ___________________________________________________________________________
  • Session 8: October 15 Lecture: Developing a value proposition Prepare:  Read SMM, chapter 12 ___________________________________________________________________________ Session 9: October 20 Case: Datril – Pioneering the Acetaminophen Market Key discussion question: What strategy would you recommend for Datril? Analysis questions: What is Datril’s positioning strategy? Is this strategy viable? Why? How would Datril’s strategy affect the market and what reactions should be expected from competitors? Prepare:  Case questions for discussion (submit a solution)  Read SMM, chapter 3 __________________________________________________________________________ Session 10: October 22 Case: Southwest Conquistador Beer Key discussion questions: What type of information would be most useful to make a go/no go decision? Which market research study or studies would you purchase and why? Prepare:  Case questions for discussion  Submit solution by 1 pm, Wed., Oct. 21. ___________________________________________________________________________
  • MODULE 3: MANAGING VALUE Session 11: October 27 Case: Nestlé Refrigerated Foods: Contadina Pasta & Pizza (A) Key discussion question: Would you launch the pizza? Analysis questions: Using the BASES model described in Exhibit 9, forecast the estimated demand (trial and repeat) for the two pizza options under consideration: Pizza and Topping and Pizza Only. Most of the data needed for the forecasting exercise is available in Exhibit 21. o Hints:  In Exhibit 21 there is a big difference between Contadina users and non- users on the top two box scores. This will affect the forecast depending on what proportions are used for Contadina users vs. non- users in the population.  On p. 14 (2nd to last paragraph), Nestlé’s marketing research department cautions us that parent brand usage could vary from 5% to 25%. It would be worthwhile to judge the sensitivity of the forecast under 5%, 15%, and 25% parent brand penetration scenarios. What do you learn from Exhibits 13, 14, and 15? How does the pizza concept test data (Exhibit 19, 20, and 21) compare to the pasta concept test data (Exhibit 6)? What is your reading of Exhibits 23 and 24? How would you compare the pizza opportunity to the pasta opportunity? What are similarities and differences? Prepare:  Submit a group case write-up  Read SMM, chapter 23 ___________________________________________________________________________ Session 12: October 29 Lecture: Product and brand management Prepare:  Read SMM, chapters 15 and 16 ___________________________________________________________________________
  • Session 13: November 3 Case: Optical Distortion, Inc. (A) Key discussion question:  How should ODI price the lenses? What pricing strategies would you consider and choose? Analysis questions:  What is its economic value of the ODI lens to the egg farmer? How does this compare to its cost? What is the breakeven price for ODI?  How are farmers likely to react to the new product? What is your assessment of the ODI lens as a new product innovation?  How should ODI segment its market? In which market segments might ODI best concentrate its efforts?  What is your sales forecast for the first five years after initial launch? What are the financial implications of your forecast? Some helpful assumptions:  The number of eggs lost due to trauma over the laying life of a bird (one year) is ONE.  A conservative estimate of the reduction in feed trough depth when birds are not debeaked is 3/8". Prepare:  Case questions for discussion (submit a solution) ___________________________________________________________________________ Session 14: November 5 In-class exercise: Optimal pricing Prepare:  Read SMM, chapters 17 and 18  Read the “Pricing a brand” mini case and think about how you would approach the problem ___________________________________________________________________________
  • MODULE 4: MANAGING COMMUNICATIONS This module is devoted to an in-depth discussion of the issues arising in managing communications. We will cover concepts pertaining both to traditional advertising and cutting edge tools for communicating value and engaging the customers. Session 15: November 10 Lecture: Managing communications Prepare:  Read SMM, chapter 19 ___________________________________________________________________________ Session 16: November 12 Case: Hasbro POX Key discussion questions:  What is POX’s core benefit proposition? What makes this game unique?  What are the pros and cons of the traditional ad campaign (based on TV and print advertising) and of the “take over the town” buzz event?  What other non-traditional marketing campaigns could Hasbro have followed (at the time of the case and today)? Prepare:  Case questions for discussion ___________________________________________________________________________ Session 17: November 17 Lecture: Social media and advertising (Brian Dunbar and Nir Eyal) Nir Eyal , CEO of AdNectar worked previously for 4 years as the CEO & Co-Founder of Sunshine Business Development, where he was responsible for financial management, sales, and marketing for the company. Nir led the company until its successful sale to outside investors in 2007. Nir has an MBA from Stanford and a BA from Emory University. _____________________________________________________________________
  • MODULE 6: MANAGING SALES GROWTH This module offers a discussion on developing strategies for increasing profitability. The Unilever Brazil case presents a scenario in which the market leader is considering launching a new offering to reach a large segment of low-income customers. The Fusion case illustrates Gillette’s marketing strategy for introducing its innovative technology in the wet shaving market during the past decade. The course will conclude with a summary of the main issues discussed during the past ten weeks and offer guidance in using the key marketing tools to address strategic marketing problems. Session 18: December 1 Case: Unilever Brazil Key discussion question: Should Unilever enter the low-income consumer market? If yes, how should it position its offering and what marketing mix should it use? Analysis questions: Identify Unilever’s motivation to enter the low-income consumer market. What goal(s) was Unilever trying to achieve? Analyze the low-income market and identify the underlying needs Unilever should target with its offering. Propose a positioning strategy for Unilever’s offering Propose a marketing mix for Unilever’s offering (product formulation, brand, price, incentives, communication, and distribution) that will enable Unilever to achieve its goal(s) Prepare:  Case questions for discussion (submit a solution)  Read SMM, chapter 24 ___________________________________________________________________________
  • Session 19: December 3 Case: Gillette Fusion Key discussion question: What should Gillette do to turn Fusion into a billion dollar brand? Analysis questions: Identify the key aspects of Fusion’s strategy and tactics. Evaluate the advantages and shortcomings of the proposed actions. Propose a course of action for Procter & Gamble to achieve its goal of turning Fusion into a billion brand. Prepare:  Read SMM, chapter 22 Submit an individual case write-up, proposing a course of action for Gillette to achieve its goal of turning Fusion into a billion brand. Your solution can be one or more of the solutions discussed in the case or you can propose an alternative solution as well. If your solution is different from the ones proposed by Gillette, your analysis should discuss the shortcomings of these solutions. Use the Fusion Case Analysis Template to write up your case. ___________________________________________________________________________ Session 20: December 4 Discussion: Lessons learned Prepare:  Review the course materials _________________________________________________________________________