MARKETING
Instructional goals
Personal and Intellectual Autonomy: Be open to new ways of thinking and appreciate the importance of intellectual curiosity and reflection as the foundation for continuous learning. Research and Inquiry Identify, define and analyze problems and recommend creative solutions within real-world constraints. Apply economic, political, legal commercial and business theories and concepts to problems and practice. Develop coherent arguments when recommending solutions and critically evaluating theories in major fields of study. Ethical, Social and Professional Understanding: Work with people from diverse backgrounds with inclusiveness, open-mindedness and integrity. Information Literacy: Conduct research using archives, libraries, the web and other sources of information
Intended learning outcomes
• Knowledge and comprehension ability: By the end of the course students will have developed ability to comprehend the link between the value generated for the customer, breadth and quality of market relationships.
• Ability to apply knowledge and comprehension: Such abilities will be acquired through the discussion of conceptual models and the development of applied projects during the course.
• Autonomy of judgment: By the end of the course students will have acquired ability to analyze problems and identify information needed to solve them. Specifically, students will have acquired critical thinking, problem-solving skills and team working skills as well as and ability to relate with others.
• Ability to communicate: By the end of the course students will have gained adequate competencies and tools to manage and transmit data and information to both specialist and non-specialist audiences.
• Learning ability: The course mainly aims to develop methodological capabilities, cognitive tools and capabilities that allow the students to know strategic and operational marketing techniques and adapt them to each specific context.
Course Contents
The course will be divided into two main parts.
The first part discusses Strategic Marketing, namely the choice of policies aiming at improving the competitive position of the firm, taking account of challenges and opportunities proposed by the competitive environment. This part mainly deals with STP strategy (Segmentation-Targeting-Positioning). However, students will be provided also definition of consumer behavior and marketing research.
The second part discusses Tactic Marketing, namely the tools and the techniques that marketing management can take in order to practically perform the strategy. In particular this part will deal with the 4Ps of Marketing (Product-Price-Promotion-Placement)
The course will also be integrated by two types of teamwork: presentation and discussion of case studies in class (students divided in groups will prepare a short written report on a given case study, and some of the groups will be selected to present and discuss their report orally in class; all reports will be evaluated), and preparation of a Marketing Challenge, under the teacher’s guidance, over a concrete company chosen by the teachers and presented at the beginning of the course to all students. The best project for each canal will be selected at the end and the group will present it at the presence of the managers of the company under study
Reference Books
Kotler, Keller, Chernev, “Marketing Management: Global Edition“, 16th edition, Pearson.
(There are a few differences in different editions of the course book. You can also study from other editions)
The precise chapters for attending students will be communicated at the beginning of the course. The program for non attending students will include the entire textbook.
Students will be provided with a list of case studies on which groups will have to provide written reports that will be discussed in class
Teaching Methods
Frontal lessons,
case discussions,
team work assignments and presentations
Assessment Method
For attending students:
The student will be evaluated as follows: 1. Written reports on three case studies and oral presentation in class: 30% of the final grade. Through this activity, the ability to communicate, both in written text and orally, using an economic and business-oriented language as well as the ability to apply skills and competencies acquired during the course will be evaluated. 2. Marketing Challenge, to which the groups will work throughout the semester and for which inputs will be provided at the beginning of the course: 35%. Through this activity, the ability to solve a concrete marketing problem applying concepts and tools learned in class, as well as the ability to imagine creative solutions, will be evaluated.
3. Final exam: 35% of the final grade. Through this activity, knowledge and comprehension skills and competencies will be assessed.
In order to be considered an attending student, you must be part of a group and you must participate in groupwork. If you choose to take the exam as a nonattending student, you will only take the final exam which will count for 100% of the total final grade. The program for nonattending students includes all chapters from the textbook plus the case studies. The list of case studies will be provided at the beginning of the course.
Groupwork: each group will have to work on a concrete marketing problem (The Marketing Challenge) which will be the same for all canals and which will be presented at the beginning of the course. In addition, each group will work on a series of case studies for which groups will have to prepare short written reports to discuss in class. All the details will be provided at the beginning of the course. Both the Marketing Challenge and the reports on case studies will be evaluated based on:
Originality and rigor
Clarity
Completeness
(for discussions): ability to correctly apply theoretical analysis to the concrete examples
Ability to involve the class in the discussion
Creativity
Final Exam Information: the final exam will be composed of a mix of open questions, multiple choice and open answer questions, through which the student will have to show to know theoretical concepts, to know how to apply them to real world cases, thus demonstrating that he/she has acquired a good study method and the ability to learn, both necessary to continue autonomously the study of the subject matter. The number of questions within each typology will be decided by the instructor during the course and it will be communicated to students before the exam.
In order to pass the exam, it is necessary that the student gets at least 18/30 in each of the aforementionted activities.
The correct answer to all multiple choice questions, the demonstration of an excellent knowledge in open questions and the correct resolution of exercises leads to getting 30/30 with the possible awarding of cum laude.
An extra 0.5 point will be awarded to those students who attend at least 90% of classes and actively participate in the course by interacting with the instructor.
Thesis assignment criteria
The criteria for thesis assignment will be communicated at the end of the course.
Week 1
Introduction: This session defines a framework for marketing management and provides the overall course overview. It will also analyze the marketing process and its main aspects
Week 2
Environment Trends & Marketing Planning: This session will focus upon the environment and the main trends in the environment, that are shaping the context where marketing processes develop. Moreover, students will be provided a framework for the development of marketing plans and examples.
Week 3
Consumer Behaviour and customer analysis: This session will focus upon consumer buying behaviour, and is intended to provide a framework for the analysis of consumer decision-making, It will also deal with new emerging issues in this field, like the increasing importance of hedonic attitudes and experiences, the role of emotions, the interaction between customers and their suppliers
Week 4
Marketing Research: This session focuses upon Marketing Intelligence systems devised to collect, process and distribute information and knowledge about clients (existing and potential) and competitors. Its purpose is to offer a broad overview of existing methods and techniques.
Case study presentation and discussion
Week 5
Market heterogeneity and segmentation: This session introduces the idea that markets are heterogeneous and have to be subdivided into homogeneous “segments”.
Case study presentation and discussion
Week 6
Targeting and Positioning: This session introduces the key strategic decisions in marketing: the choice of the segment/s to target (targeting), and the choice of the way to compete against competitors (positioning).
Case study presentation and discussion
Week 7
Targeting and positioning part 2: this session introduces and discusses several examples of different positioning strategies: based on cost leadership, on differentiation, on value innovation, etc.
Week 8
Value proposition – product, service, experience – Brand and Branding: This session introduces the notion of “value offer” of “value proposition”, and the concept of product and its components. It develops also the ides of measuring and evaluating value. Moreover, the session will introduce the concept of brand and branding. Then, it extends to branding strategy to explore the establishment of brand equity.
Case study presentation and discussion
Week 9
Value Proposition – Pricing: This session is companion of the session on product and service. It focuses upon the value of the offer; it provides models to analyze this value and to decide how to price this value offer
Week 10
Integrated Marketing Communications: This session will focus on advertising, i.e., one of the most important tools in the communication mix, which is of the utmost importance in consumer markets and has been the object of continuous attention on the part of practitioners and academics. The session deals, as well, with additional communication tools and broaden the picture of the communication mix.
Week 11
The management of marketing channels: This session is about the management of distribution and focus upon the choices available to manufacturers: the structure of the distribution network, the typology of intermediaries involved and the relationship with those actors. Moreover, the session will focus also on the players in the distribution system and processes (i.e., Retailing and wholesalers).
Week 12
Presentation of the best three marketing plans