MKTG 1030 Course Details

Marketing Management Course - MKTG 1030

• Course Instructor: Steve Pulver
• Email: spulver@schulich.yorku.ca
• Lab Leader: Dolly Shao (dshao@schulich.yorku.ca)
• Lab Leader: Mahsan Hajirasou (mahsanha@schulich.yorku.ca)
• Team Lead: Sheila Sinclair (ssinclair@schulich.yorku.ca)
• Room: N304A

Course Agenda

• Introductions
• Course Overview
• What is Marketing?
• What is Marketing Strategy?
• What is a Value Proposition?
• What is a Marketing Plan?
• This Week's Lab
• Next Week's Lecture

Introductions (Instructors and Lab Leader)

• Steve Pulver has 40+ years of experience in marketing for Procter & Gamble (Downy, Cheer, Coast), CBS Records (now Sony Music; Bruce Springsteen, Michael Jackson, LL Cool J, and The Beastie Boys), and Mill Street Brewery (Canada's #1 craft brewery).
• Steve Pulver was also a partner in the highly successful advertising agency Echo Advertising (1987-2002), involved in projects for entertainment, food, beverage, telecom, software, and financial services
• Dolly Shao is a Schulich MBA alumna with experience in digital marketing, public relations, and community engagement in China and Canada. She is a member of the Southlake Foundation and the Federation of Asian Canadians Toronto Marketing Committee
• Mahsan Hajirasouliha is a visiting professor specializing in qualitative research methodologies in marketing and consumption
• Sheila Sinclair is the team lead for the course.

Grading Structure

• Lab Attendance (15%)
• Midterm Exam (20%)
• Group Project (25%)
  • Slide deck (15%)
  • 10-minute video presentation (10%)
• Final Exam (40%)

Lecture Attendance

• 15% of the midterm and final questions will be from topics discussed in lectures, but not from readings, lecture notes, or textbooks.
• Lab attendance will account for 15% of the final grade (1.25 marks per lab attended)

Group Project

• Students form teams of 6.
• Teams choose a brand from a list provided.
• Marketing plan will be presented in a slide deck format
• A 10-minute video presentation of the marketing plan deck will also be required
• Course will involve detailed strategy creation for final projects

Midterm Exam

• 20% of final grade
• 20 multiple-choice questions
• Exam duration: 30 minutes
• Based on readings, labs, lecture notes, and material discussed in lectures & labs (not available in readings/notes)

Final Exam

• 40% of final grade
• 40 multiple-choice questions
• Exam duration: 45 minutes
• Based on readings, labs, lecture notes, and material discussed in lectures & labs (not available in readings/notes)

What is Marketing?

• The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (American Marketing Association)
• Emphasizes creating, communicating, exchanging, and delivering value
• Traditional (4Ps): Product, Place, Promotion, Price
• Updated (7Ps): Value Proposition, Positioning, People, Place, Promotion, Product, Price

What is Marketing Strategy?

• How you achieve your objectives Defining objectives is the first step
• Examples given: -Getting to LA as quickly as possible -Getting to LA, then stopping on route to visit someone

How Do You Develop a Marketing Strategy?

• Analyzing the external environment (ex: secondary research-databases, trade journals; primary research-interviews/surveys with customers and consumers)
• Analyzing the internal environment (ex: secondary research-business results, interviews/surveys with employees; primary research-interviews/surveys with customers and consumers)
• Analytical frameworks like SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) are also used

Positioning

• Your product's differentiated place in the minds of target customers
• Good positioning is compelling and differentiated

What is a Marketing Plan?

• A comprehensive and detail-oriented document to:
  • Present your plan to an audience,
  • Provide project details, and
  • Ask for feedback/approval

Executive Summary

• Done after the full marketing plan is written
• Need to tell the story quickly - use numbers so decision makers can understand easily

Objectives

• What are the firm's objectives?
• What is the strategy for the firm?
• What are the project's objectives?
• Are the firm and project objectives/strategies aligned?

Research Findings & Methodology

• Detail proof points for recommendations
• Describe research methods
• Explain questionnaire/interview guide development
  • Sample collection methodology and any challenges encountered during data collection

Value Proposition

• Explicitly articulated
• Resonates with all aspects of the plan

Overall Architecture

• Section A: Describe
• Section B: Assess
• Section C: Recommend -People, Positioning, Product, Price, Promotion, Place and detailed procedures for all aspects

Competitive Analysis

• Focuses on direct competitors and understanding their strengths, weaknesses, image, and resources
• Involves research on available competitive information
• Methodologies include mystery shopping
• Porter's Five Forces: potential new entrants, bargaining power of buyers, competitive rivalry, suppliers, substitutes

PESTEL Analysis

• Political: fiscal policy, government activity, conflicts, taxes
• Economic: GDP, unemployment rate, exchange rate, inflation, income level
• Social: demographics, cultural factors, religion, lifestyle, education
• Technological: technological access, infrastructure, research, technology trends
• Environmental: environmental policies, recycling, consumption trends, production processes, natural risks
• Legal: wages, rights, job security, regulations, controlled marketing

The Political and Legal Environment

• Organizations must comply with government regulations
• Various government agencies enforce regulations to protect consumers and businesses

The Competitive Environment

• Focuses on aspects like potential new entrants, rivalry among competitors, power of suppliers and buyers, threat of substitute products

Marketing Eras

• Value era: Customer centric
• One-to-one era: Builds individual customer relationships
• Transformative era: Companies and products transform to serve customers better

Key Takeaways

• Marketing as the creation, communication, delivery, and exchange of value
• Strategy = Achieving objectives
• Tactics communicate the strategy to consumers
• Marketing has many aspects (7Ps: Value Proposition, Positioning, People, Place, Promotion, Product, Price) are key aspects covered, culminating in a group marketing plan

Specific Considerations

• Labs involve course review, introduction topics, & individual/group projects
• Next week's lecture: Further discussion on aspects of marketing's Ps (People, Positioning, Segmentation), targeting, and factors that influence how products are perceived by consumers. (Note: Textbook reading suggested)