Professor: Pierre Chandon                                                                   Office: RW 2.09, Tel: 4987    ...
-      You should then generate alternative marketing actions (incl. their pros and cons) and       make a decision about ...
Individual and Group case write-up   During the break between Weeks 2 and 3, you will have to prepare a written analysis o...
Course instructor  Here is the official INSEAD biography. You can find more information on my research
Assigned readings-       The Black & Decker Corporation (A): Power Tools Division (HBS case).-       Optional: Kotler, cha...
-      The Schwarzkopf & Henkel Shampoos contains specific questions. There are no       questions for the Tivo case. Your...
-      Krishnamurthi L. "Pricing: Part Art, Part Science", Financial Times Mastering       Marketing, 1999.-      Dolan R ...
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Teaching emba syllabus


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Teaching emba syllabus

  1. 1. Professor: Pierre Chandon Office: RW 2.09, Tel: 4987 EMBA PROGRAM E-mail: MARKETING MANAGEMENT COURSE OBJECTIVES Successful firms are those that integrate the objectives and resources of the organizationwith the needs and opportunities of the marketplace better than competitors—that is, thosethat identify untapped sources of customer value, and deliver and capture more customervalue than their competitors. The role of marketing management in organizations is to identifycustomers unfulfilled wants, determine which customers the business should serve, decide onthe appropriate products and services, and determine the optimal methods of pricing,promoting and distributing the products or services. This course is designed for participants with little marketing experience. However, therange of concepts and materials we will be using should provide a challenging experienceeven for those of you who have marketing backgrounds. The objectives of the course are (1)to enhance your marketing decision-making skills and (2) to enhance your understanding ofkey marketing concepts and best practices in a variety of settings and organizationalenvironments. ACHIEVING THE COURSE OBJECTIVES Marketing is one of the most difficult areas of analysis and decision-making for firms.Why? Because marketing requires to master an array of ‘hard’ and ‘soft’ skills. Althoughmany marketing problems lend themselves well to quantitative analysis, the human elementplays a much larger role than in other business functions. This is why this course will relyheavily on group and class-wide discussion of (1) real-world case studies and (2) lectures onconceptual/technical issues. I choose cases for their ability to improve your marketing decision-making skills on aspecific set of issues (e.g., pricing), not to provide general “world knowledge” aboutmarketing practices in a certain industry. As a result, some of the cases may appear somewhatremoved from the specific problems pertinent to your particular industry experience andinterests. However, the lessons to be learned from the cases selected in this course areuniversally relevant and transcend the particular companies, countries, or industries in whichthey are set.Case preparation and class discussion Some of you may not be familiar with the case teaching method. To benefit from the casemethod, you must be intimately familiar with the facts of each case. I also recommend thatyou follow these simple steps:- When reading a case, you should try to identify the underlying marketing problems (not just the symptoms described in the case). While doing this, you should think about how these problems apply to your industry and company. Do not attempt to find out what happened to the company. This greatly reduces what you will learn from the case. 1
  2. 2. - You should then generate alternative marketing actions (incl. their pros and cons) and make a decision about what should be done before you come to class. As is often the situation in actual practice, cases may not have all the data you would like. Nevertheless, it is critical that you develop a reasoned plan of attack on the basis of the data available. The arguments behind your recommendation are more important than your decision itself.- Finally, you should be prepared to discuss your analysis and decisions with other course participants in a constructive manner. Repeating case facts or personal experience is not enough. Building on other people’s comments is as important as coming up with answers. A typical question at the end of a case discussion is: “So what is the answer?” In casestudies, as in the real world, there is no unique answer (although some answers are better thanothers)! What is important is that you know what you would have done in that specificmarketing situation, and why, and that you begin to construct your own framework forapproaching more general marketing problems.Course material- Packet of cases and readings.- Kotler, Philip (2003), A Framework for Marketing Management, Upper Saddle River, NJ: Prentice Hall, Second edition. The Kotler book is a concise version of Kotler’s Marketing Management. If you have atleast a relatively recent edition of Marketing Management, you don’t need to buy the requiredbook. This book will be particularly useful for participants with little marketing knowledge.Others should use this book as a basic reference text to flesh out material from the classdiscussion in greater detail, depending on your needs and interests (i.e., you do not need toread each chapter before each class).Evaluation Your overall evaluation will be based on the following four components, according to thisweighting scheme:- Class participation: 30%- Group case write-up: 20%- Individual case write-up: 20%- Final exam: 30%Class participation Almost every session of the course will involve interaction in the form of class discussion.In particular, the case method requires you to be an active participant in resolving a marketingproblem. I expect you to be prepared at all times to comment in any class session. Classparticipation is not simply a function of the amount of "air time" you take up, but will beevaluated on (1) preparation (comments add to our understanding of the situation beyondsimple repetition of case facts and show an understanding of the concepts and tools presentedin class or in the reading materials) and (2) listening and communication skills (the points arelinked to the comments of others and presented in a concise and convincing fashion). 2
  3. 3. Individual and Group case write-up During the break between Weeks 2 and 3, you will have to prepare a written analysis of theTivo case (in group) and of the Schwarzkopf & Henkel case (individually). These write-upswill allow you to apply the concepts covered in the first week of class. Send them by email by Monday January 5 (for both the Fontainebleau and Singaporegroups). All the write-ups will be posted on the course web site, along with a sample answer,so that you can review your work and compare it with the other participants (grades will notbe disclosed). Case analyses must be typewritten and double-spaced and must not exceed 1,000 words.You may include exhibits in the group write-up (they are not necessary for the individualwrite-up). Exhibits do not count toward the word limit but must not exceed 2 pages. Theformat for the written case analyses is as follows: 1. A concise executive summary. This should define the problem, outline the recommendations, and provide a statement of quantitative and qualitative objectives. 2. Recommendations. This should include a statement of the marketing strategy (i.e., the positioning statement), the action plan (i.e., specific changes in the marketing mix), and a statement of expected results (including timetable and risks). 3. Appendices. These should provide supporting analyses as needed, including an analysis of the market (customers, competitors, company, community), the customer segmentation scheme (if applicable), support for the targeting decision (target attractiveness vs. company resources), and information supporting chosen positioning. Reasons why obvious alternative strategies and actions were not chosen should be given. Finally, the appendices should include relevant financial forecasting and break even analyses.Case write-ups will be graded according to: 1. Quality of problem diagnosis. The source of identifiable symptoms or key impediment to attaining valued goals is defined (i.e., the correct problem is identified). 2. Quality of recommendations. Specific, comprehensive and practical plans recognizing issues of implementation are provided. 3. Writing style and organization. The write-up is logically structured and is clear and concise. Use exhibits to amplify and support your paper, but ensure the argument in the paper can stand on its own. Never append an exhibit that is not referred to in the text. There is no need to repeat facts verbatim from the case except to explicitly support a conclusion.Final exam The final examination will consist of a case analysis similar to the ones we have analyzedthroughout the course. It is designed to test how well you can apply the knowledge and skillslearned in the course. The same criteria used to assess the written case assignment will beused to judge your test performance. Thus, the best way to prepare for the exam is toconscientiously study each of the cases throughout the term, read the assigned readings, andattend the classes. The exam will be in class, closed book, with one 2-sided A4 sheet of notesallowed and will last for 2 hours. 3
  4. 4. Course instructor Here is the official INSEAD biography. You can find more information on my research Pierre Chandon is Assistant Professor of Marketing at INSEAD. He joined INSEAD in1999 after being on the faculties of the London Business School and of the University ofNorth Carolina at Chapel Hill. Before that, he was a Visiting Scholar and Lecturer at Wharton,University of Pennsylvania. At INSEAD, he teaches Marketing Management and AdvancedBrand Management in the MBA, EMBA, and in various executive educations programs.Pierre Chandon holds a PhD in Marketing from HEC and a degree in business administrationfrom ESSEC, both in France. His expertise is in brand management and consumer behaviorfor low-involvement products, with applications in the areas of sales promotions and point ofpurchase marketing. He has published articles and books in leading academic journals,including Journal of Marketing and Journal of Marketing Research. In 1998, he won the HECInterdisciplinary Dissertation Award and, in 2003, he won the Stellner Distinguished ScholarAward for his achievements and contributions to the field of Marketing. His work has beenthe subject of media coverage in Europe and the US, by France Inter, L’Expansion, Les Echos,and the Marketing Science Institute. COURSE OVERVIEWWeek 1: Marketing Strategy Formulation- Customer-driven strategy: The Black & Decker Corporation (HBS case)- Brand-driven strategy: Parfums Cacharel de L’Oréal (INSEAD case)- Market-driven strategy: Ericsson Mobile Phones (IMD case)Off-campus- Individual case write-up: Schwarzkopf & Henkel Shampoo (INSEAD case)- Group case write-up: Tivo (HBS case)Week 3: Marketing Strategy Implementation- Promotion decisions: Dewar’s Scotch Whisky (HBS case)- Pricing decisions: Kodak Funtime Introduction (HBS case)- Product decisions: Biopure Corporation (HBS case)- Distribution decisions: Louis Vuitton (HEC case)- Wrap-up: Diesel For Successful Living (INSEAD case) SESSIONS OVERVIEW Week 1: Marketing Strategy FormulationSession 1: Customer-driven strategyTopics covered- The marketing concept.- Framework of strategic marketing planning. 4
  5. 5. Assigned readings- The Black & Decker Corporation (A): Power Tools Division (HBS case).- Optional: Kotler, chapters 1, 3 and 6.Session 2: Brand-driven strategyTopics covered- Brand identity, brand image, and brand equity.- The value of market research.- Shaping customer preferences.Assigned readings- Parfums Cacharel de L’Oréal (A): Decoding and Revitalizing a Classic Brand (INSEAD case).- Price R, "Ignore your customers", Focus Magazine, Winter 1997.- Holt, Douglas B. (2003), "What Becomes an Icon Most?," Harvard Business Review, 81 (3), 43.Session 3: Market-driven strategyTopics covered- Market analysis: Customer, Competition, Company, and Community analysis.- Segmentation, targeting, and positioning.Assigned readings- Make Yourself Heard: Ericsson Global Brand Campaign (IMD case).- Green P E & Krieger A M, "Slicing and Dicing the Market", Financial Times Mastering Marketing, 1999.- Tybout A M & Sternthal B, "Connecting with Consumers: the Four Ds of Effective Positioning", Financial Times Mastering Marketing, 1999.- Optional: Kotler, chapters 7, 8, and 9. Off Campus Case Write-UpsTopics covered- Market analysis (customers, company, competition, community).- Marketing strategy formulation (segmentation, targeting, and positioning).- Writing a marketing plan.Assigned readings- Schwarzkopf & Henkel Shampoos: Post-Merger Brand Repositioning (INSEAD case).- Tivo (HBS case).Notes- Both write-ups are due in electronic format by Monday, January 5 (for the Fontainebleau as well as for the Singapore group). 5
  6. 6. - The Schwarzkopf & Henkel Shampoos contains specific questions. There are no questions for the Tivo case. Your task is to write a marketing plan for the launch of Tivo. Regardless of your recommendation, make sure that your write-up covers the alternative targeting and positioning strategies and evaluates the proposed action plan. Week 3: Marketing Strategy ImplementationSession 5: Promotion decisionsTopics covered- Integrated marketing communication (advertising vs. sales promotions).- Balancing customer acquisition and retention.Assigned readings- Dewar’s (A): Brand Repositioning (HBS case).- Dolan R J – "Integrated Marketing Communications", Harvard Business Review, June 2000.- Optional: Blattberg R C & Deighton J, "Manage Marketing by the Customer Equity Test", Harvard Business Review, Summer 1996.- Optional: Kotler chapter 16.Session 6: Pricing decisionsTopics covered- Measuring the financial ROI of pricing decisions.- Price discrimination.- Fighting against private labels and generics.Assigned readings- Eastman Kodak Company: Funtime Film (HBS Case).- Dolan R J, "Note on Low-Tech Marketing Math", HBS, Dec 1998.- Rao, R R, Bergen M E & Davis S, "How to Fight a Price War", Harvard Business Review, March-April 2000.- Optional: Hoch S J and Raju J., "Are Private Labels a Threat to National Brands?", Financial Times Mastering Marketing, 1999.- Optional: Kotler, chapter 13.Session 7: Product decisionsTopics covered- New product introduction.- Assessing consumer demand.- Product line management.Assigned readings- Biopure Corporation (HBS Case). 6
  7. 7. - Krishnamurthi L. "Pricing: Part Art, Part Science", Financial Times Mastering Marketing, 1999.- Dolan R "Analyzing Consumer Preferences", HBS note, 1999.- Optional: Kotler, chapters 10 and 11.Session 8: Distribution decisionsTopics covered- Function of marketing channels.- Retail management (product assortment and merchandising).- Point-of-Purchase shopping behavior.Assigned readings- Louis Vuitton (HEC Case). This is a web-based case.- Underhill, Paco (1999), "Making First Impressions Count," Why We Buy, Simon & Schuster.- Sheth J. and Sisodia R. "The Changing Face of Retailing," Financial Times Mastering Marketing, 1999.- Optional: Kotler, chapters 14 and 15.Session 8: Wrap-upTopics covered- Review of topics covered in this course.- Brand revitalization, extension, and repositioning.Assigned readings- Diesel for Successful Living (INSEAD case).- Aaker D A, "Should You Take Your Brand to Where the Action Is?", Harvard Business Review, Fall 1997.- Aaker, David A. and Eric Joachimsthaler (2000), "The Brand Relationship Spectrum," California Management Review, 42 (4), 8-23. 7