Marketing Strategy (Fall)
Samuel G. Cukierman
This course is for students who enjoy case discussion and active class participation in the strategic planning process as it relates to consumer analysis and the cause and effect of business decisions. The course will appeal to business generalists who wish to supplement their marketing skills, or to those seeking a marketing career. The backdrop is that we live in the “right now” generation, and yet aging boomers outnumber teenagers two to one. Add in stressful competition, and a changing and far more demanding consumer, and these serve as challenges for creating strategies with meaningful differentiation. Students will need to shift their thinking about developing marketing strategies in a world that values ethics, and socially responsible leadership.
This course uses the case study method from the text and casebook, supplemented by special handouts and guest speakers, to teach marketing strategy as an organizational decision-making process. Students will gain an understanding of and be able to put in practice the processes used to make informed decisions, learning to what works in varied industries and scenarios. We quickly move from theoretical analysis to a detailed dialogue of practical decision-making and the implications arising from those decisions - one in which management commits people and cash to compete effectively in markets which they choose to serv
- To develop thinking and analytical skills in strategic marketing in order to assess markets and create value.
- To develop skills in defining business drivers, and the factors influencing strategic and tactical decisions.
- To develop an understanding of the critical success factors that make the strategic planning process effective – beginning with development of brand image, assessment of competition, creating a customer value proposition, relating to the importance and relevance of customer satisfaction, to the meaning and role of high performing teamwork, and how these factors influence the bottom line.
- To appreciate the use of marketing strategy for new products and technology in our current environment both domestically and globally.
This course examines the processes by which businesses decide how to compete in the markets they choose to serve. The emphasis is on the analysis of market opportunities and sources of competitive advantage. The course also looks at the strategic implications of market evolution and methods of allocating resources to new and established products. Take this course if you want to make money. Use the processes to sharpen your consulting skills.
Marketing Strategy (Spring)
Marketing Strategy is an integrative course in marketing dealing with strategic issues in marketing. It is intended for students interested in marketing, consulting, and entrepreneurship. The subject matter of the course is how to develop sustainable competitive advantage through marketing means.
What the Course is About?
As alluded to above, it is about “marketing” and “strategy.” Thus it is a natural follow-up to the first-year marketing and strategy courses. This course will teach you how to develop unique value propositions for consumers, backed up by assets that are hard to replicate by competitors. These are the sorts of decisions CMOs, and even CEOs, get involved in.
This is essentially a case course, supplemented by lectures and guest speakers. The cases have been chosen to cover a wide range of marketing strategy issues, in a variety of product and geographical settings. The variety is part of the design: you will learn from comparing cases, and figuring out how the similarities and differences between them map into strategy.
A key feature of the course is “live cases”—i.e., cases involving actual companies based in Toronto. (The 2013 edition of the course featured live cases from Canadian Tire Retail and Kraft Canada.) These live cases will involve student teams interacting with company executives to understand the real issues facing these firms and developing recommendations to address those issues.
Students interested in investigating social and psychological foundations of consumer thought and behaviour. Course content is oriented toward basic principles of psychology and other social sciences and their application to a wide range of consumer activities.
Successful managers have the ability to design and deliver unique consumer value in ways that efficiently utilize the company’s resources. This course focuses on the analysis of consumer thoughts, feelings, and behaviours by providing a detailed account of the theory of consumer behaviour. We will examine the personal, psychological, social, and cultural aspects of the marketing environment, and explore the nature of these influences on the buying behaviour of individuals and groups. This course has four overarching objectives:
- To encourage appreciation for the value of consumer behaviour in determining successful marketing strategies.
- To review recent conceptual, empirical, and methodological developments in research on consumer behaviour.
- To provide a coherent framework for interpreting consumer reactions to marketing stimuli.
- To provide experience in applying behavioural principles to the analysis of marketing problems and the design of marketing strategy.
Classes will use a variety of methods: readings, lectures, application exercises, and class discussions.
The primary goal of this course is to enhance understanding of consumer behaviour, from determining consumer needs to building customer relationships. Behavioural concepts from various social science disciplines are used to examine consumer motivations, perceptions, attitudes, decisions, and actions. The emphasis is on using this knowledge to capitalize on marketing opportunities.
Strategic Marketing Communications
This course is for students who are intrigued by the impact that technology and the changing face of the Canadian market is having on evolving traditional marketing disciplines to engage audiences. The course will present new perspectives to those already in or interested in pursuing a marketing career either on the side of a marketing company, advertising agency or specialized marketing related service, e.g., media, social engagement, research, etc., or even entrepreneurship that involves customer engagement.
This course uses the case study method and expects high class participation. There will be a primary textbook reference and supplemented by industry expert guest speakers. The focus will be to teach marketing communication as a decision-making process in real market cases. The course aims to help broaden a marketers thinking and provide tools to explore business opportunities using consumer insights and techniques facilitated by technology.
This course has been designed to provide you with the strategic thought process and the tactical tools for making marketing decisions; specifically in the area Marketing Communication. You will learn how to create marketing programs that effectively engage your audiences and build brand value.
With real life projects, you will be guided to come up with solutions to the unique challenges you’re your brand poses. The course will help you sharpen your creative abilities to explore ideas that build brand equity and business.
This course is relevant for students interested in general management, marketing, market research and innovation in businesses that are fundamentally consumer or customer centric. The course emphasizes the pivotal role market research has in supporting decisions at all levels and stages of business management. Students will learn how to design market research studies and interpret the findings to support the most common and important business decisions. The course will also expose students to emerging areas of market research and consider how they are reshaping business practice.
Course Scope and Mission
- To give students experience with the most frequently used market research methods that guide business decisions in consumer or customer markets today.
- To equip students to answer complex business questions by integrating data on consumer behaviour with market structure information to identify opportunities and evaluate alternatives.
- To provide a business application context for the development of skills and knowledge of foundational research methods.
- To expose students to emerging areas of market research that are shedding new light on how consumers/customers make decisions in complex markets.
Marketing Analysis and Decision Making
The course will be particularly valuable to students planning careers in marketing and management consulting.
This course teaches the “science” side of marketing – a set of models and analysis tools commonly used by companies and consulting firms in marketing decision making. The marketing consulting approach aims to provide students a deeper understanding of marketing decision process.
This course consists of analyzing ten consulting projects dealing with strategic marketing decisions (segmentation, targeting, positioning), customer relationship management (acquisition, retention, one-on-one targeting), retail category management, product line pricing, and new product design and forecasting. In each project, students will learn how to collect and convert data and information into insights to aid decision making. Students will learn the ideas, tools, and software by practice.
Distribution Channel Strategy
Students interested in a career in sales, marketing, supply chain, or consulting to these functions.
The objectives for this course is to develop frameworks for understanding sales/distribution channel issues, and provide opportunities for applying these frameworks in real-world business situations. Students will leave with a structure for analyzing existing channels or establishing new ones, as well as with tools for defining and resolving channel conflict and using your channel power to improve overall channel performance.
Structuring and managing your company's "route to market" is one of the most costly and difficult to reverse investments you can make. Having a great product or service to sell is important, but without the right channel partners and strategies to bring your offering to the end-user, your chances of market success are slim. This course provides a framework for dealing with questions regarding what and how many intermediaries to partner with, what each partner's role and responsibilities should be, and how to motivate channel partners to perform at the highest level. These issues affect consumer goods and services companies that hope to optimize their relationships with wholesalers and retailers; business-to-business firms working through independent distributors and sales representative firms; retailers seeking to improve their efficiency in an increasingly competitive marketplace; and intermediaries themselves, seeking to preserve their role in an increasingly fluid channel structure. We address these problems in the context of a wealth of current examples of companies whose channel decisions have had a strong impact on their performance.
Marketing Financial Services
Students who work in or intend to enter the Financial Services sector.
The course is designed to give students real world, practical insights on what it will take to win in the Canadian and global financial industry over the next five to ten years and to learn from leading edge companies in the financial services arena.
The course is intended for second-year MBA students interested in branding issues, and should appeal to many students. Students interested in a career in marketing will find the material essential. Students interested in financial careers should feel at home with the idea that products become brands through marketing investments. Brands are financial assets that can be leveraged, bought, and sold, just like any other asset. Students interested in management consulting should appreciate that brand strategy is an important sub- practice at most strategy-oriented consulting firms. Students interested in legal careers will find the material on brand equity relevant to cases involving trademark infringement/deceptive advertising.
- To develop an understanding of the strategic importance of brands in creating value for customers and firms.
- To appreciate the nature of the challenges in planning, executing, and controlling branding strategies.
- To develop a customer-based view of brand equity that explicitly addresses the role of cognitive, emotional, behavioural, social, cultural, and economic factors in creating brand equity.
- To gain familiarity with some of the tools and tactics that firms use to create, sustain, leverage, and defend brand equity.
- To refine analytical and decision making skills and the ability to express conclusions orally and in writing.
Brands are defined by a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. However, brands are valuable because those distinctive elements mean something to consumers. Sometimes they make a product more memorable; sometimes they carry rich and powerful associations; sometimes they evoke feelings and emotions; sometimes they perform important social functions; and, sometimes they carry significant cultural meaning. Consumers may even form relationships in which the brands help to define who they are and communicate this self-image to others. The varied meanings and functions of brands for consumers create enormous challenges and opportunities for marketers.
The value that brands can create for consumers also makes the valuable assets for organizations. Brands represent valuable assets that must be created, sustained, leveraged, and defended. Students will assume the role of senior marketing managers responsible for the design, implementation, and evaluation of branding strategies. This course will use case analysis, lectures, discussion, and a group project to reinforce successful decision making and communication skills for students who are interested in developing expertise in managing brands.
This course is appropriate for anyone who expects to be involved in the determination, execution and communication of a price. This includes students who plan careers in general management, marketing, sales, strategy, and customer services. The course is not restricted to any particular industry or vertical, and is appropriate for both B-2-B and B-2-C, and for both products and services applications.
After taking this course, you will be able to:
1) Understand the importance of the demand curve and customer willingness-to-pay in pricing strategy, and learn methods of estimating the demand curve.
2) Learn how to calculate profit-maximizing prices.
3) Calculate expected value to customers (EVC) and develop the concept of value based pricing.
4) Understand relevant costs in determining prices, and develop a cost-based framework for pricing.
5) Understand the effect of non-price factors on price image and perceived value.
6) Be sensitive to consumer behavior factors that play a large role in pricing effectiveness
7) Analyze a distribution channel in terms of impact of margin changes on channel value
8) Understand innovative pricing strategies like bundling and price customization.
Price setting is one of the most important marketing mix decisions. It involves an understanding of both supply side factors (e.g. costs) and demand side factors (e.g. consumer willingness to pay). While traditional approaches to pricing theory have revolved around an economic and financial framework, a broader and more pragmatic view entails a comprehensive understanding of the demand side, both at the level of individual customer values, and the more aggregate level of price sensitivities of the market. Using product categories as diverse as financial services, healthcare, industrial products and consumer packaged goods, we will study economic and behavioural approaches to pricing, value pricing, price customization, price bundling and multi-part tariffs, revenue management, and retail pricing strategies, amongst other topics.
Marketing and Behavioural Economics
This highly interdisciplinary course will be particularly relevant to students with interests in Marketing, Design, Strategy, Behavioural Finance, Policy, and General Management.
By the end of this course, you will:
1. Master the basic principles of behavioural economics
2. Know the application of the principles to various aspects of business and policy
3. Be able to design products and programs that are behaviourally informed.
The field of behavioural economics couples scientific research on the psychology of decision making with economic theory to better understand what motivates economic agents, including consumers, investors, employees, and managers. In this course, we will examine topics such as the role of emotions in decision-making, “irrational” patterns of how people think about products, money, or investments, self-control, and how expectations shape perceptions. Topics covered will include: Individual and group choice, choice complexity, intertemporal choice, emotional influences on choice, the role of behavioural economics in marketing, spending and savings behaviour, social welfare (e.g., health apps), decision engineering and choice architecture (e.g., in the field of debt or tax collection).
James A. Tucker
All students who intend to lead a business, be accountable for overall revenue or expect to interface with the sales function should take this course to be able to provide more effective oversight and guidance for the sales function. This would include prospective CEOs, entrepreneurs, marketing executives and line managers. In addition all students who see selling (products, services, ideas, yourself) as a core skill in their chosen profession should take this course to sharpen their personal selling tools.
- Provide holistic approach/toolkit to developing optimal sales forces & revenue creation strategies
- Deliver an enhanced executive ability to manage your sales teams
- Enhance your personal selling capabilities (to sell products, services, ideas and yourself)
- Build appreciation for various approaches for maximizing return on sales investment
- Develop visibility into the inter-relationship of buyer and seller and how this plays out in the market
- Develop an understanding of how buyers buy
“Nothing happens until something is sold”
This course is intended to develop your ability to manage your most critical business resource – your revenue generators. We will study the intersection of individual selling, sales management and sales strategy (theory and current practice). We will develop an integrated toolkit that will give you a competitive advantage in managing your future companies toward maximum value creation and give you the personal skills to sell your products, services or ideas to your target buyer.
By the end of the course students will have a holistic overview of the concepts and tools available to the sales professional and strategic sales manager. The three essential building blocks of a successful sales organization will be covered in detail:
- Strategic sales planning
- Best practices in sales force management
- Personal selling
Data Driven Marketing
This course is appropriate for anyone that has the potential to use data from various sources (sales data, historic consumption data, transactions data, marketing effectiveness data) in making more effective business decisions. We will understand the basic principles of data driven marketing in verticals as diverse as financial services and banking, direct marketing, leisure and entertainment, wholesale management, packaged goods and retailing. Applications will range from targeting decisions, segmentation decisions, customer relationship management (CRM), vendor and supplier management, loyalty programs, revenue management, marketing mix decisions, price and service differentiation, and service quality management.
To enable students effectively harness data in making various customer related business decisions. In particular, by the end of this course students will be able to:
- Understand the key principles of CRM (customer relationship management).
- Measure consumer’s willingness-to-pay.
- Think about appropriate methods for creating a customer portfolio matrix, and using the matrix to drive business decisions
- Construct appropriate financial metrics to determine the ROI of marketing programs
- Identify means of calculating customer worth, value, churn rates, quality – and use these indices in making decisions
- Formulate answers to: How much should I spend per prospect (or customer) to acquire (or retain) them? How should I allocate my marketing budget across acquisition and retention.
- Design and build a loyalty program for their products or services
- Identify critical success factors for CRM-type efforts.
This course approaches data-driven business decisions as an intersection of marketing, finance, information systems, customer psychology and business statistics approaches. While we will primarily study customer related decisions, the course is truly integrative in that it encompasses various aspects of the business. A good working knowledge of excel, discounted cash flow analysis and statistical analysis will be expected.
Marketing Using Information Technology
Students interested in emerging media including online advertising, social media, and mobile media.
To understand how emerging media change the way companies find and serve their customers.
This course gives students the skills required to respond to changes in the emerging media landscape. Among other things, by the end of the course, students will know how to run a Google AdWords campaign and develop search engine optimization strategies, how to develop a web presence in order to communicate with customers and suppliers, how to take advantage of online marketplaces like eBay, how to use social media effectively, how to manage privacy concerns online, and how to develop and implement a mobile marketing campaign.
Business Design Practicum: Business Innovation Lab
Students interested in how to effectively leverage design-based principles and methodologies as a tool for innovation and strategic business design. This includes students who might work in strategy, marketing, new venture start-up, or innovation/product development.
The objective of this course is to help students understand the theory and evidence on why business design is important to enterprise growth and success, what frameworks and tools can be used to enhance and accelerate the innovation and business design process, and how to apply these principles and tools to the creation of innovative solutions, breakthrough strategies and viable new business models through team collaboration. Students will be exposed to a wide range of success stories and a cross section of ‘business design tools’. Teams will have the opportunity to practice those tools in a continuous process applied to their term project, and reflect on the broader value of the principles and practices of business design. Students will work in multi-disciplinary teams (with industrial designers from OCAD) and learn to synthesize discoveries and multi-disciplinary inputs in each stage of innovation process.
During the course, teams will engage in a complete end-to-end business design process, including: a) Uncovering emerging trends & patterns; b) Developing deep user understanding, uncovering new insights, and identifying opportunities to meet unmet/unsatisfied needs; c) Developing new ideas and concepts based on an understanding of those unmet needs; d) Translating concepts into prototypes; e) Developing and testing prototypes; f) Developing a value creation system; g) Developing a strategic business model for the final business concept. At the conclusion of the Business Design Practicum, teams will present their plans to Faculty, Sponsors and industry representatives.
Innovation, Foresight and Business Design
This course is of direct value to the student who has elected to major in Business Design, Consulting, Brand Management or Innovation and Entrepreneurship. This course is also of value to students interested in design strategy, marketing, new venture start-up, or innovation/product development and who wish to develop an ability to imagine new possibilities and create high quality forward views.
This course aims to prepare the MBA candidate for the ambiguous challenge of creating and supporting a culture of innovativeness, within the framework of an innovation creating enterprise. In content, manner and style, this course has been designed to focus on developing the candidate’s ability to inspire exploration, discovery and learning within teams, as well as increasing the value of their own imagination and creativity. Students will work with “pre-design” methods that will help them identify and validate ideas, and transform these ideas into pre-competitive products, services and systems by using techniques designed to identify significant strategic shifts at their early stages as well as tools to assess the potential of these strategic shifts in technology and behaviour as potential markets before they can be measured. Finally, this course will explore how foresight informs strategic decision-making and aligns the desires of people with the potential of technology, into new business models.
The primary goal of this course is to expand your decision-making data set by:
- Enhancing your awareness of macro trends and global behaviour shifts, and discover the possibilities present at the intersection between latent needs and current technology.
- Building unique new perspectives
- Transform shifts in behaviour and technology into feasible, useful and desirable business model concepts for systems, communications, products and services.
- Develop and execute methodologies leading to innovation outcomes that combine emerging technology research and foresight methods.
The coursework is designed to: a) Help students to unlearn in order to see from new perspectives. b) Recognize and assign meaning to local and global patterns of emergence in behaviour. c) Translate these behaviour signals into future opportunities. d) Explore the experiential value of these opportunities e) Describe the support structures required to deliver on these experiences f) Design business models that translate these experiences, into social and corporate wealth.