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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