Strategic Marketing Issues
The purpose of marketing strategy is to transform company resources to satisfy customers' current and future needs more effectively and efficiently than competing alternatives. The requirements to become a successful marketing manager have surged in recent decades, demanding new critical understanding of consumer reality and new competences in management. To address these challenges and secure their seat at the boardroom table, marketers are required to develop deep insights of strategic marketing issues and demonstrate the value of marketing investments. This course is centered on the notion of building managerial skills that increase such relevance for business through a combination of action-based, hands-on learning through marketing simulation and in-class discussion of examples with empirical evidence from practice
The topics selected in this course aim to deepen students understanding of the complex strategic marketing issues that affect firm performance. In particular, the course addresses the role of marketing strategy and diverse marketing elements in driving business performance. As we progress through the course, students will gain deeper understanding of the impact and trade-offs between different marketing elements and marketing’s impact on bottom-line performance, as well as the need to quantify the return on marketing investments. Besides highlighting burning issues for marketing managers, this course aims to develop student’s appreciation of the need for a marketer to quantify the impact of selected marketing solutions.
Topics covered in the course include:
- The role of marketing in driving business performance
- Growth, market share and market conditions
- Understanding competition and how economic conditions impact firm performance
- Order of entry and whether pioneer advantage exists
- Short- and long-term marketing mix trade-offs
- Return on investment for marketing activities
Learning outcome knowledge
Strategic marketing focuses on developing the critical insights and analytical skills required to identify the key strategic issues companies are facing in the market they compete in. As we progress through the course, students will gain deeper understanding of the impact and trade-offs between different marketing elements and marketing’s impact on bottom-line performance, as well as the need to quantify the return on marketing investments.
In particular, we aim to teach students to address the following questions:
- What are the crucial marketing capabilities in modern environment?
- How diverse marketing drivers affect firm performance?
- How companies create value for customers and develop sustainable competitive market positions?
- How to prove marketing’s return on investment and link marketing outcomes to the financial return of the company?
- Presentation and discussion: 20%
- Written assignment: 50%
- Multiple choice: 30%