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Project Report on 4P of Marketing

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									                                                                                       Okada
                                                                                    Fall 2009

                         New Ventures Marketing (MKT 372)
                                Fall Semester 2009

                                  University of Hawaii
                               Shidler College of Business

                                Professor Erica M. Okada



Course Objectives:

Marketing

        The fundamental principles of economics and marketing, which you all studied in
your prerequisite courses, generally apply to all types of value creating exchange
situations, including for new ventures.

New ventures

        The focus of this class will be applying marketing tools to new ventures.
Marketing for new ventures tends to differ from more “traditional” marketing concerns in
the extent of uncertainty and resource scarcity. Whether it be a new product, or a new
market, there is more uncertainty for consumers, marketers and other stakeholders of new
ventures. New ventures also tend to be more limited in their access to financial and
human resources, compared to more well established marketers.

Scope

       The course will mainly address the question: how can a new venture effectively
use marketing tools to mitigate uncertainty surrounding the market, using scarce
resources?

       You will learn through a combination of attending lectures, reading articles,
analyzing case studies, participating in class discussions, interacting with executive guest
speakers, and executing group term projects.


Teaching Philosophy

        I encourage you to actively learn new material, while thinking creatively,
analytically and logically, and contribute to the learning environment for your classmates.
I expect you to attend class, fully prepared to discuss the assigned readings for each class.

      I hold students to a high standard of integrity and responsibility. The honor
code will apply in this course, including all exams, presentations, and projects. It is your
                                                                                       Okada
                                                                                    Fall 2009

responsibility to abide by the agreement. It is also your affirmative responsibility to
report to me, any breach of the agreement during any exam, presentation, or project.


Required material:

Textbook: Marketing that Works: How Entrepreneurial Marketing Can Add Sustainable
      Value for Any Sized Company, by Lodish, Morgan and Archambeau

Cases and articles: available at http://cb.hbsp.harvard.edu/cb/access/4494904 If you
       have difficulty accessing the cases and articles, please call technical support at
       (800) 810-8858 (open until 8 pm Eastern).

Journal article: Thaler, Richard (1999), “Mental Accounting Matters,” Journal of
       Behavioral Decision Making 12 (3), 183-206. Available from UH library at
       http://library.manoa.hawaii.edu/


Expectations and Grading:

       My expectations are that you:

(1)    Thoroughly prepare the assignments in advance of the respective classes.

(2)    Enrich the learning environment for the class by actively and constructively
       engaging in class discussions, and providing feedback to your classmates.

(3)    Attend all presentations by guest speakers and classmates, and prepare well-
       crafted questions for discussion.

(4)    Take all exams in accordance with our agreement, and perform adequately.

(5)    Present a case analysis and recommendation in class.

(6)    Create a marketing plan, and present the report in class.

       The grades in this course will be based on a curve, where the average grade is
expected to be about a 3.3. The final grades will be weighted as follows:

        Midterm exam #1                                             15%
        Midterm exam #2                                             15%
        Midterm exam #3                                             15%
        Case analysis presentation                                  15%
        Marketing plan term project                                 30%
        Class participation                                         10%
        TOTAL                                                      100%
                                                                                       Okada
                                                                                    Fall 2009



Midterm exam

       The first midterm exam is on Wednesday, September 23th. You will be
responsible for all the material covered in the class lectures and discussions, and the
assigned textbook chapters, up to and including September 18th.

       The second midterm exam is on Wednesday, October 14th. You will be
responsible for all the material covered in the class lectures and discussions, and the
assigned textbook chapters, up to and including October 9th.

        The third midterm exam is on Friday, November 6th. You will be responsible for
all the material covered in the class lectures and discussions, and the assigned textbook
chapters, up to and including November 4th.

         All midterms will be held in class as a closed book exam. The honor code
strictly applies to all exams.


Case analysis and presentation

        You will be assigned a case to analyze and present in class. The purpose of the
class presentation is to make your case to your classmates in the most convincing way, in
order to have them “accept” your recommendation. Remember, your classmates will
have read the cases also, so do NOT summarize the case. See point (5) below. Please
finalize your case analysis group memberships by September 16th.

      The case analysis will be graded based on:

(1)      the clarity with which you present your recommendation, and the extent to which
         you clarify the basis for your recommendation using case facts;
(2)      the degree to which you incorporate the various marketing topics that we covered
         in class;
(3)      the extent to which you execute a comprehensive assessment of the situation (you
         may consider the 5C’s framework for this);
(4)      the extent to which you make recommendations that are specific, reasonable, and
         actionable (you may consider the 4P’s framework for this);
(5)      and the extent to which you do not summarize the case.

       The class presentation should be no longer than 10 minutes in length. I
encourage you to use powerpoint slides. The presentations will be on September 30th,
October 9th, October 23rd, and October 30th, and your specific date will be assigned.
                                                                                      Okada
                                                                                   Fall 2009



Marketing plan term project

     This is a group assignment. I encourage you to work in groups of about 5
members. Please finalize your term project group memberships by September 25th.

        Choose a new venture, either actual or hypothetical, and create a marketing plan
for it. There are two types of deliverables for the term project: a written report, and a
class presentation. The grading of the term projects will also be based on:

(1)    the clarity with which you present your business idea;
(2)    the degree to which you incorporate the various marketing topics that we covered
       in class;
(3)    the extent to which you execute a comprehensive situation analysis to identify a
       market opportunity (you may consider the 5C’s and/or SWOT framework for
       this);
(4)    the extent to which you present a marketing program that is specific, reasonable,
       and actionable (you may consider the 4P’s framework for this);
(5)    the overall strength of argument and quality of presentation;
(6)    the quality of any market research that you conduct in order to enrich the report
       and presentation; and
(7)    the feasibility of the marketing plan.

        The written report should be no longer than 10 pages all inclusive, in reasonably
legible font, at least 1.5 spaced between lines, with reasonable margins. I encourage you
to use bullet points, charts, tables, and exhibits to help save space and make your point
succinctly. The written report is due in class on December 4th.

        The class presentation should be no longer than 20 minutes in length. I
encourage you to use powerpoint to aid your presentation. Your group will be assigned
to present on November 20th, November 25th, December 2nd, or December 4th.


Class participation

        Reflecting my classroom philosophy that each student should carry his/her own
weight and contribute to the learning environment, class participation is an important part
of the course. My assessment of your class participation will reflect my belief in “quality
over quantity”. Anything that you contribute in class will count toward the class
participation. Therefore I strongly urge you to come fully prepared to each class.

       Attendance at, and participation in, the class presentations by the guest speakers
and your classmates will be an especially important component of class participation.
                                                                                    Okada
                                                                                 Fall 2009

                              Study guideline questions


Gordon Biersch

   1.     What are Gordon Biersch’s (GB) opportunities?
   2.     What segment(s) does GB target? Comment on the size and segment profile.
   3.     What is GB’s positioning?
   4.     How is GB’s future growth affected differentially by its source of financing?
   5.     Recommend a marketing plan for GB’s growth.


Bonny Doon Vineyards

   1.     Recommend a marketing plan based on (i) importing more European wine, (ii)
          starting a retail outlet, or (iii) expanding the mailing network. How does your
          recommended marketing plan position Bonny Doon Vineyards?
   2.     Be specific about the targeted segment(s), its segment profile, and size.
   3.     What are the pro’s (at least three) and con’s (at least three) of your chosen
          strategy, compared to the other two?


Mental Accounting Matters

   1.     Describe a “new product” that you purchased recently.
   2.     Who was/were the influencer(s) in your purchase?
   3.     What did you gain relative to the “old” product? What did you lose relative to
          the “old” product? What did the marketer do to communicate the gains and
          mitigate the losses?



CardioThoracic Systems

   1.     What is the market size for CABG?
   2.     What are the potential benefits (think “gains”) and potential costs (think
          “losses”) of CABG on a beating heart, as perceived by the surgeon? The
          cardiologist? The patient? The hospital?
   3.     Recommend a marketing plan for CardioThoracic Systems. Comment on how
          your recommendation mitigates the “losses” for the decision makers.
                                                                                     Okada
                                                                                  Fall 2009



GolfLogix

   1.       What is the market size for GolfLogix?
   2.       Who are the decision makers? How does GolfLogix rate in terms of the 6
            “utility levers” for the decision makers?
   3.       Present a marketing plan for GolfLogix. Be specific about which product(s)
            targeting which segment(s), in what geographical area(s), and the positioning.


Zipcar

   1.       What is the market size for Zipcar?
   2.       How does Zipcar rate in terms of the 6 “utility levers”?
   3.       Present a marketing plan for Zipcar. Be specific about the targeted
            segment(s), in what geographical area(s), and the positioning. Demonstrate
            how your recommended marketing plan would affect the line items in the
            financial plan in exhibits 3 and 5 in the short and long terms.
                                                                                          Okada
                                                                                       Fall 2009



                                       Planned course schedule
                                              Fall 2009

                                  Topics                                  Assignments
Aug. 26 (Wed)   Introduction to New Ventures Marketing
Aug. 28 (Fri)   “Marketing” yourself                       Text: Introduction
Sep. 2 W        Segmentation and positioning for new       Text: Ch. 1, 13
                ventures
Sep. 4 F        Case discussion                            Case: “Gordon Biersch”
                                                           Study guideline questions
Sep. 9 W        Guest speaker:
                Mr. Darren Kimura
                CEO, Sopogy
Sep. 11 F       New venture ideas                          Text: Ch. 2, 3
Sep. 16 W       Pricing                                    Text: Ch. 4, 5
                Distribution                               Finalize case analysis teams
Sep. 18 F       Guest speaker:
                Ms. Chenoa Farnsworth
                Hawaii Angels
Sep. 23 W       Midterm exam #1
Sep. 25 F       Marketing experiments and causality        Text: Ch. 6, 7, 8, 9
                among variables                            Finalize term project teams
                Marketing and sales
Sep. 30 W       Case discussion                            Case: “Bonny Doon Vineyards”
                                                           Study guideline questions
Oct. 2 F        Guest speaker:
                Mr. DK Kodama
Oct. 7 W        The “gains” and “losses” of new products   Article: “Mental accounting matters”
                                                           Study guideline questions
Oct. 9 F        Case discussion                            Case: “CardioThoracic Systems”
                                                           Study guideline questions
Oct. 14 W       Midterm exam #2
Oct. 16 F       Evaluating new venture ideas               Article: “Knowing a winning business idea
                                                                  when you see one”
                                                           Text: Ch. 10
Oct. 21 W       Branding for new ventures                  Test: Ch. 11, 12, 14
Oct. 23 F       Case discussion                            Case: “GolfLogix”
                                                           Study guideline questions

Oct. 28 W       Guest speaker:
                Mr. Gary Yoshioka
                Vice President and Manager, Pepsi
Oct. 30 F       Case discussion                            Case: “Zipcar”
                                                           Study guideline questions
Nov. 4 W        In-class market concept testing
                                                 Okada
                                              Fall 2009

Nov. 6 F    Midterm exam #3
Nov. 11 W   No class: holiday
Nov. 13 F   Guest speaker:
            Mr. Ian Kitajima
            Director of Marketing, Oceanit
Nov. 18 W   Guest speaker TBA
Nov. 20 F   New venture presentations
Nov. 25 W   New venture presentations
Nov. 27 F   No class: instructional holiday
Dec. 2 W    New venture presentations
Dec. 4 F    New venture presentations
Dec. 9 W    Class review

								
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