15.810 Course Introduction - MIT OpenCourseWare

15.810

Course Introduction

Marketing Management

Prof. Natalie Mizik

What is Marketing?

Marketing is the activity, set "Everything starts with the customer"

of institutions, and processes

Lou Gerstner, CEO of IBM 1993-2002

for creating, communicating,

delivering, and exchanging "Creating shareholder wealth is not the

offerings that have value for customers, clients, partners,

purpose of the business. It is the reward

for creating customer value"

and society at large (AMA

Tracy and Wiersema in CFO magazine

2007)

"My own biggest mistake in the last 20

years was that sometimes I designed

solutions for problems that people didn't

Marketing is an organizational

yet know they had. That's why some of

function and a set of processes

the things that could've made a

for creating, communicating, and

difference couldn't find a market"

delivering value to customers

Bill Joy the `Edison of the Internet'

and for managing customer relationships in ways that benefit To achieve organizational goals by

the organization and its

determining the needs and wants of

stakeholders (AMA 2004)

customers and delivering the desired

benefits more effectively and efficiently

than competitors

2

Prof. Natalie Mizik ? 2010 MIT 15.810

Importance of Marketing

Market Value

Cash Flows

Customers

Company

Competitors

3 Prof. Natalie Mizik ? 2010 MIT 15.810

Course Objectives and Structure

I. Situation

Analysis: Identify

COLLABORATORS

Market

Opportunities

(5Cs)

II. Set Strategy SEGMENTATION (STP)

CUSTOMERS COMPANY COMPETITION CONTEXT

TARGETING

POSITIONING

ACQUISITIONRETENTION

III. Formulate Marketing Programs (4Ps)

PRODUCT

PRICE

PROMOTION

PLACE

Prof. Natalie Mizik ? 2010 MIT 15.810

15.810 Course Structure:

I. Analyzing Markets and Identifying Opportunities

Session Date Topic

Case/Readings

1. Sept 8

Introduction and Company Analysis

Case: Federal Express (B) Read: "Note on Marketing Strategy" Read: "Basic Quantitative Analysis for Marketing" Read: "Analyzing Marketing Problems and Cases"

2. Sept 13

Competitive Analysis

Case: American Airlines (A) Skim: "Managing the Competition" Read: "How to manage an aggressive competitor"

Read: "To Understand Your Customers, You Have

3 Sept 15

Customer Analysis I

to Know How they Think" Read: "A Nobel That Bridges Economics and

Psychology"

Customer

Analysis II & Read: "Economic Benefits and Value Creation"

4. Sept 20

III: Value to the Read: "Zero Defections: Quality Comes to Customer and Services"

Customer

Read: "Customers As Assets"

Lifetime Value

Assignment

Marketing Survey due by 7:00 pm HW Assignment 1

II. Developing Marketing Strategy

5. Sept 22

Developing Mkt Strategy

Case: Aqualisa Quartz: Simply a Better Shower

6. Sept 27 7. Sept 29 8. Oct 4

9. Oct 6 Oct 11

Segmentation, Targeting and Positioning EVC-Based Strategy

STP-based Strategy and IBS

IBS, Social Responsibility and Marketing No class

Skim: "Segmentation and Targeting Analysis" Skim: "Value Proposition and Positioning"

Case: Optical Distortion, Inc.

Case: Harrah's Entertainment Inc. Read: "The Worst of all Bets" Read: "Betting Your Life on It" Read: "Behavioral Addictions"

Speaker: Ron Gonen (Founder and CEO, RecycleBank)

Columbus Day holiday

10. Oct 13 Branding

Read: "How do Brands Create Value?" Read: "How to Better Value Branded Businesses"

Oct 18-22 11. Oct 25

SIP Developing Mktg Strategy for Innovation

October 18-22 SIP Case: Sonance (A)

HW Assignment 2

HW Assignment 3

No class

No class Case Write-up due by 10 am

III. Formulating Marketing Programs

Session Date Topic

Case/Readings

Read: "Product Development: A Customer-Driven

12. Oct 27 Product

Approach"

Read: "First-Mover Disadvantage"

Mktg Products Case: Massive Inc.

13. Nov 1 for Multi-Sided Speaker: Katherine Hays (CEO, GenArts, Inc.,

Demand Markets former COO and CFO of Massive Inc.)

Case: Medicines Co

14. Nov 3 Price

Read: "Pricing Opportunities"

Read: "Ethical Issues in Pricing"

Read: "Who Benefits from Price Promotion?"

15. Nov 8 Promotion

Read: "Marketing Communications and Customer Response"

Speaker: John Gerzema (CIO, Young&Rubicam)

Case: Rohm and Haas (A)

16. Nov 10 Distribution

Read: "Aligning Incentives in Marketing

Channels"

Assignment

HW Assignment 4

Final Project Proposal

IV. Special Topics

17. Nov 15

International Market Entry

18. Nov 17

International Branding

19. Nov 22

Course Summary

Nov 24

No Class

20. Nov 29

Team Presentations

December 1

Case: Citibank: Launching the Credit Card in Asia Pacific (A) Speaker: Juan J. Alfonso (Vice President, Marketing & Program Development, ESPN International) Read: "The Cost of Myopic Management" Read: "Myopic Marketing Management"

Thanksgiving

Read: "Building a Marketing Plan"

Final Projects Due

Final Project

5 Prof. Natalie Mizik ? 2010 MIT 15.810

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