Value-Based Marketing Fall 2009
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Value-Based Marketing Fall 2009

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Syllabus for the online section of my Fall 2009 Value-Based Marketing course at the University of Dallas Graduate School of Management.

Syllabus for the online section of my Fall 2009 Value-Based Marketing course at the University of Dallas Graduate School of Management.

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    Value-Based Marketing Fall 2009 Value-Based Marketing Fall 2009 Document Transcript

    • MARK 6305 SECTION 7QA: VALUE-BASED MARKETING FALL 2009 CONTACT INFORMATION Professor: Dale D. Fodness, Ph.D. e-Mail: dfodness@gsm.udallas.edu (always include “MARK 6305” in subject line for class-related communications) Phone: 817-919-4533; Fax: 972-721-4007 Office: 120 Braniff Office Hours: via email 24/7; Skypename: dfodness, available for IM or call whenever logged in LinkedIN: Feel free to look me up at www.linkedin.com/in/dalefodness e-College Site: http://imba.udallas.edu e-College Help: 7 by 24 help with technical questions: helpdesk@imba.udallas.edu or toll free 1-877-476-4622 COURSE DESCRIPTION This course takes a strategic approach to value/profitability in marketing management and focuses on the fundamental need for businesses to attract, satisfy, and retain customers. Prerequisite: MARK 5F50 Foundations of Marketing COURSE OBJECTIVES Students who successfully complete this course will develop the knowledge, skills and ability necessary to: 1. Focus profitably on customer relationships, customer satisfaction, and customer value 2. Connect marketing decisions with financial implications 3. Apply ROI concepts and practices for delivering higher levels of marketing productivity and profitability REQUIRED TEXT Title: Market-Based Management: Strategies for Growing Customer Value & Profitability, 5e Author: Roger J. Best ISBN: 0132336537 Publisher: Prentice Hall Publication Date: 2008 Text website: http://www.rogerjbest.com/mbm5/ Recommended Texts (Alternative Perspectives on Marketing ROI) • Lenskold, James D. (2003). Marketing ROI: The Path to Campaign, Customer, and Corporate Profitability. McGraw Hill. Author website: http://www.lenskold.com/overview/roi_book.htm • Jagpal, Sharan (2008). Fusion for Profit: How Marketing and Finance Can Work Together to Create Value. Oxford University Press, USA. Author website: http://fusionforprofit.com/default.aspx MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 1 of 7
    • COURSE TOPICS & SCHEDULE Unit Start Date End Date* Course Topics Text Readings** Deliverables*** • Customer focus & profitability • Customer retention 1 Aug 22 Sep 4 B-1&2 • Customer loyalty • Marketing performance & metrics • Customer experience & value • Value creation 2 Aug 29 Sep 11 B-4&5 Term project prospectus • Needs-based market segmentation • Customer relationship marketing • Market definition, potential, demand, share, & analysis • Product life cycle 3 Sep 5 Sep 18 B-3&6 • Competitive advantage • Competitor analysis • Industry analysis • Exam #1 – over all material to this 4 Sep 12 Sep 25 point • Portfolio analysis • Strategic market planning 5 Sep 19 Oct 2 B-11,12&13 • Offensive strategic market plans • Defensive strategic market plans 6 Sep 26 Oct 9 • Building a marketing plan B-14 Industry analysis • Product positioning, differentiation, branding and product line strategies 7 Oct 3 Oct 16 B-7&10 • Marketing communications and customer response • Value-based pricing & pricing strategies 8 Oct 10 Oct 23 B-8&9 • Marketing channels & channel mapping • Marketing performance metrics 9 Oct 17 Oct 30 • Marketing strategy implementation B-15&16 Marketing plan • Marketing & financial performance • Return on marketing investment 10 Oct 24 Nov 6 • Marketing balanced scorecard 11 Oct 31 Nov 13 • Values-based marketing • Exam #2 – over all material since exam 12 Oct 31 Nov 13 #1 * The end dates listed above indicate when unit assignments are due. This includes class discussions, deliverables & exams. ** Best, Market-Based Management (B) *** Detailed assignment instructions for each deliverable are posted on the course Home Page. MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 2 of 7
    • ASSIGNMENTS AND EVALUATION Assignments • Class Discussions (20% of your course grade) Much of the value of your value-based marketing course results from interactions with the ideas and insights of others in the class. To facilitate this exchange of knowledge, in each unit (including the assessment units 4 and 12) we participate together in an asynchronous (i.e., not in real time) class discussion focused on a specific topic from the unit. I'll typically begin the discussion by posting a question / topic and you will respond by posting your ideas and opinions on that topic. Each discussion is designed to build on the foregoing course materials to provide you with applications of your increasing value-based marketing knowledge base. General guidelines for class discussions: In general, writing a page or more for your initial response is too long and only writing a couple of sentences is not enough. It takes approximately 300 to 400 words to adequately convey your ideas in your initial posting, and roughly 200 to 300 words to comment about another classmate's response in your subsequent postings. Your performance on this assignment will be graded as follows: Grade (pts) Class Discussion Performance Criteria F Complete lack of contribution or participation in 50 percent or more of the Class Discussions. (0) C Substantive responses to the stated questions / issues in over 50 percent of Class Discussions, but with (140-159) little or no interaction with other students. B Substantive responses to the stated questions / issues PLUS at least one substantive response to (160-179) another student's point-of-view in a majority (75 percent) of Class Discussions. Substantive responses to the stated questions / issues, substantive responses to other students' A points-of-view, PLUS contributing substantive questions to move the discussion forward in nearly (180-200) all (90 percent or more) Class Discussions. Exams (50% of your course grade) There are two exams over the course materials (primarily the textbook), which may consist of objective (multiple choice, true-false) and / or subjective (case analyses, essay questions, etc.) questions. Material covered on each exam is indicated on the course Schedule. Exams are self-administered from the course Web site. Be sure to familiarize yourself with this function at the Student Orientation section of the course site. There you can also find information on how to check on your scores after the exams, i.e. the Grade book. Each assessment unit (units 4 & 12) contains full exam instructions and a hot link to the online exam. Enter the assessment units as they open according to the Schedule to access this information and link. Exams are available during the entire period that the assessment unit is open and must be completed on or before midnight of the end date for the unit. Unless otherwise instructed, you will be allowed to enter the exam itself only once during the period that the assessment unit in which it is found is open. The objective portion of an exam will be a timed event. Unless otherwise noted, exams are closed book, closed-notes, and closed-mouth and cover the assigned materials specified in the Schedule. Be familiar with these materials prior to taking the exam. The time allotted to the objective exams has been set to reward those who have done a thorough job of mastering the course materials prior to the exam and to ensure that those who have not adequately prepared will not have sufficient time to consult the course materials for answers during the exam itself. • Term Project: Prospectus (2.5%) + Industry Analysis (12.5%) + Marketing Plan (15%) (total: 30% of your course grade) This assignment will enable you to identify and apply the most basic skill sets required of marketers. Understanding exactly what goes into industry analysis and marketing planning will be of a great benefit to you whether or not you are "directly" involved in the marketing function. The term project for this course is a team effort (teams are self-selected) and has three sequential components: (1) Prospectus: The prospectus is due early in the term and provides details on team membership and the Web 2.0 industry chosen as the subject of your term project. (See Supplement: Term Project Industry/Business Selection) a. 1-2 pages b. 25 points; 2.5% of final grade MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 3 of 7
    • c. Due date: Midnight on the last day of Unit 2 d. Submit to: Public Document Sharing area & email invitation for review to class e. …followed by… (2) an Industry Analysis: The industry analysis, due approximately half-way through the term, is a comprehensive examination of the industry, not business, you have selected as the subject of your term project. a. 10-15 pages b. 125 points; 12.5% of final grade c. Due date: Midnight on the last day of Unit 6 d. Submit to: Public Document Sharing area & email invitation for review to class e. …followed by… (3) a Marketing Plan: The marketing plan, due near the end of the term, builds on your industry analysis and outlines your plan for the marketing of a business (real or fictional) within the industry selected as the subject of your term project. a. 25 PowerPoint slides or less (format for marketing plan is PowerPoint notes pages, see example in text) b. 150 points; 15% of final grade c. Due date: Midnight on the last day of Unit 9 d. Submit to: Public Document Sharing area & email invitation for review to class Each of the three components of the term project is graded separately, and the three scores are summed to count as your overall term project score. It is IMPERATIVE that prior to embarking on this project you CAREFULLY review Chapter 14: Building a Marketing Plan in the textbook. Detailed instructions can be found at the course homepage including information on Team Formation. At the end of this syllabus see Term Project Industry/Business Selection GRADING AND GRADE SCALE Your course grade will consist of the following opportunities to exhibit your mastery of the course content. No individual extra- credit assignments are available. The following table shows the exact weight of each component of your final grade. Grading Item Individual or Team Work Points Available Percent of Course Grade Prospectus Team 25 pts 2.5% Exam #1 Individual 200 pts 20% Industry analysis Team 125 pts 12.5% Marketing plan Team 150 pts 15% Exam #2 Individual 300 pts 30% Class Discussion Individual 200 pts 20% The official GSM grading scale will be used and is as follows: Grade Grade Points 100-point Scale* A 4.0 93-100 A- 3.7 90-92 B+ 3.3 87-89 B 3.0 83-86 B- 2.7 80-82 C+ 2.3 77-79 C 2.0 73-76 C- 1.7 70-72 D+ 1.3 67-69 D 1.0 63-66 D- 0.7 60-62 F 0.0 <=59 FA 0.0 Failure because of excessive absences or failure to withdraw from the course. MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 4 of 7
    • *As a percentage of total points possible for the course. LIBRARY The William A. Blakley Library is a valuable resource for this course, providing access to the articles in the VBM Reader as well as many electronic databases that will be useful research tools for this course. The library’s website for electronic databases and subject guides is http://www.udallas.edu/library/guideselect.cfm. Your UD network login and password allow access to library resources from off-campus. For username and password assistance, please contact the GSM Computing Center at 972-721-5030 or libacct@gsm.udallas.edu. COMMUNICATION GUIDELINES AND EMAIL PROTOCOL Email protocol: Always include “MARK 6305” in the subject heading of your email to me. Experience with online courses, as well as student feedback, indicates that one of the keys to managing our online learning environment is frequent, controlled communication. Our weekly class discussions provide a forum for focused dialogue each week in an asynchronous format. We will also use email frequently. Because you and I need a well-balanced life outside of this course and because we are all overloaded by email, we will follow these important guidelines when communicating with one another regarding this course:  For any questions, problems, or concerns with the course content or schedule, you should email me directly. You are also welcome to call me at 817-919-4533.  If your question relates to a technical problem with the eCollege system, email (helpdesk@imba.udallas.edu) or phone Help Desk (1.877.GSM.IMBA). If your email address changes during the trimester, go to the "User Profile" tab on your IMBA homepage and enter your new email information. If you do this, there is no need to inform the instructor, as the changes will be made automatically. It is expected that all participants in this course will follow conventions of professional courtesy in all email messages and communications with one another, with the instructor and with Help Desk personnel. If any communications are deemed inappropriate or offensive by the instructor (i.e., abusive, sexist, racist, threatening, etc.), such messages will be forwarded to the Dean's Office for appropriate action, not excluding expulsion from the course and the Graduate School of Management. Privacy of communications with the instructor Under no circumstances will any communication with the instructor regarding any aspect of this course be treated as confidential or privileged communications. The instructor reserves full rights to use any and all student communications in any manner deemed necessary. POLICY ON ACADEMIC HONESTY All students are responsible for familiarizing themselves with the University’s policy on Academic Honesty. Please review the entire Academic Honest policy at the following URL: http://www.udallas.edu/gsm/academics/academicpolicies.cfm#ACH and in the current University of Dallas General Bulletin. The following is reproduced from the Bulletin: Plagiarism and cheating are extremely serious offenses and are not tolerated in the Graduate School of Management. Students who admit to having committed such offenses, or who are found guilty of them by the Academic Review Board, are subject to dismissal by the GSM Dean. MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 5 of 7
    • Plagiarism. Plagiarism—an attempt to claim as our own, ideas or writings that originate with others—is a serious offense against the academic community. Plagiarism is not lessened by paraphrase or even by an extensive rewriting of another’s work. Whenever ideas or words are borrowed, the student must give credit by citing the source. All credentialed sources of information must be documented in order to give proper credit to the author. In addition to traditional sources of information (e.g., books, journals, magazine and news articles), this includes information accessed electronically through the Internet or other sources. A student who submits plagiarized work (or whose name is included on a team submission that contains plagiarized work) is subject to disciplinary action as described in detail in the University of Dallas General Bulletin. Cheating. All work performed by a student to satisfy course or degree requirements must be the student’s original work. This includes courses taught in any type of environment, including over the Internet. When plagiarism or cheating is found to have occurred, the student is subject to immediate dismissal from the Graduate School of Management, and the grade for the course or the work submitted is subject to change. If a degree or certificate has already been granted at the time the violation is discovered, the degree or certificate shall be revoked, regardless of the time that has passed. If you at any time submit work that was prepared by another student or another person (even if only in part) as your own, or if you in any way solicit or lift information from another student during an exam, or if you use external reference material without prior instructor permission, or if you plagiarize or fail to provide sufficient citation of the original author, the instructor will: (1) assign an “F” as your final grade for the term, and (2) notify the GSM Dean’s Office so that a formal procedure will be instituted. Academic integrity standards and consequences apply to all dimensions of student behavior, including but not limited to assignment submissions, attendance records, and statements or representations about your own or another’s performance. POLICY ON DISCRIMINATION AND EQUAL OPPORTUNITY The University of Dallas is an equal opportunity, co-educational and Catholic institution of higher learning. It is open to students and faculty of all faiths and does not discriminate in admissions or employment on the basis of race, color, sex, age, disability, or national origin. POLICY ON THE AMERICANS WITH DISABILITIES ACT The University of Dallas Graduate School of Management complies with the Americans with Disabilities Act in making reasonable accommodations for qualified students with disabilities. Please present your written accommodation request to your professor and to the ADA Coordinator (972-721-5382) before the second class unit. POLICY ON ONLINE PARTICIPATION AND ATTENDANCE Attendance and full participation in all course units is required. Attendance will be monitored with logged-time records. Participation includes all unit assignments and activities and all virtual discussions. Because this is an asynchronous course, attendance must be distributed throughout the week and cannot be limited to a single sign-in at one point during the week. Provisions will not be made for make-up activities, discussions or other assignments due during the unit’s week. MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 6 of 7
    • Supplement: Term Project Industry / Business Selection For your term project, I have asked you to first select an industry in which to conduct your industry analysis and then select a company from that industry for your marketing plan. Further, both your industry and company must be selected from the Web 2.0 marketspace. Since the Web 2.0 industry and its associated businesses may be less familiar to many of us I'll provide you with a perspective from Forrester Research. The book Groundswell: winning in a world transformed by social technologies written by two Forrester researchers contains a very reasonable taxonomy of Web 2.0 industries and companies. Most definitions of the term "industry" include the notion of a "space" in which companies compete. And what they compete for, at least in my opinion, is the opportunity to provide the best solution to customers' problems. In Groundswell, Web 2.0 technologies are grouped according to how (and why) people use them. Each of the following categories represents (for our purposes) an industry. I'll provide examples of sub industries and companies competing in those areas. For your term project, select one of the following industries or sub industries (the more focused you are, the better) to analyze and then look at the competitors I've listed (and find others) to determine whether you want to do a marketing plan for an existing company or for a start-up in that area. To ensure an informative mix of projects, there can be no more than one team per sub-industry (i.e., only one team can do social networks, virtual worlds, etc. The first team to specify their choice in the introductory class discussion gets rights to that topic. 1. Industry: People Creating Sub-industries & representative companies: blogs (Blogger, Typepad, Wordpress, etc.), user- generated content (YouTube, MetaCafe, Gather, Helium, etc.), podcasts (Singularity, IT Conversations, In Our Time, etc.) 2. Industry: People Connecting Sub-industries and representative companies: social networks (MySpace, Facebook, LinkedIn, etc.), virtual worlds (Second Life, Cyworld, OpenSim, WeeWorld) 3. Industry: People Collaborating Sub-industries and representative companies: wikis (Wikipedia, Conservapedia, wikiHow, etc.), open-source (Linux, Apache, Firefox) 4. Industry: People Reacting to Each Other Sub-industries and representative companies: forums (tivocommunity.com, quickbooksgroup.com, etc.), ratings and reviews (PlanetFeedback.com, epinions, rottontomatoes.com, expotv.com) 5. Industry: People organizing content Sub-industries and representative companies: tags (Digg, delicious.com) Here is an interview from a Forrester VP talking to the CEO of a company in the People Connecting (community) space. http://www.youtube.com/watch?v=oW-PBYCLnZw I've pulled together some resources below to start exploring Web 2.0, its industries and companies. This is a dynamic area and content tends to get dated rapidly. If you have any questions and insights, please be sure to post them in our "Questions" discussion so that we can all benefit from your thoughts.  When techies talk about Web 2.0 they tend to focus on the enabling technologies (AJAX, blogs, RSS, wikis, XML, Atom, etc.)...  http://www.youtube.com/watch?v=0LzQIUANnHc  and marketers like to talk about Web 2.0 tools (social networking sites, blogs, podcasts, etc.).  http://video.google.com/videoplay?docid=-4379407413504809142&hl=en  Even anthropologists have an opinion about what Web 2.0 means for society.  http://www.youtube.com/watch?v=NLlGopyXT_g  Visionaries (?) are even telling us that Web 2.0 is yesterday's news and we need to start thinking in terms of Web 3.0.  http://www.youtube.com/watch?v=WIm5txBm1YA Here are a few links from my Web 2.0 favorites list.  All Things Web 2.0  Go2Web2.0.net (loads slow but worth it; don't abort the script when asked)  Web 2.0 Journal  What is Web 2.0? (BNET) MARK 6305 - Value-Based Marketing - Dr. Fodness - Page 7 of 7