Course Introduction

Marketing Management
Prof. Natalie Mizik

It is the reward for creating customer value”  Tracy and Wiersema in CFO magazine   Marketing is an organizational function and a set of processes for creating. communicating. That's why some of the things that could've made a difference couldn't find a market”  Bill Joy the ‘Edison of the Internet’  To achieve organizational goals by determining the needs and wants of customers and delivering the desired benefits more effectively and efficiently than competitors 2 Prof. Natalie Mizik – 2010 MIT 15. CEO of IBM 1993-2002  “Creating shareholder wealth is not the purpose of the business. set of institutions. delivering. clients. and processes for creating. and society at large (AMA 2007)  “Everything starts with the customer”  Lou Gerstner.What is Marketing?  Marketing is the activity. and exchanging offerings that have value for customers. partners. and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders (AMA 2004) “My own biggest mistake in the last 20 years was that sometimes I designed solutions for problems that people didn't yet know they had. communicating.810 .

810 . Natalie Mizik – 2010 MIT 15.Importance of Marketing Market Value Cash Flows Customers Company Competitors 3 Prof.

Course Objectives and Structure I. Set Strategy SEGMENTATION (STP) CUSTOMERS COMPANY COMPETITION CONTEXT TARGETING POSITIONING ACQUISITIONRETENTION III. Situation Analysis: COLLABORATORS Identify Market Opportunities (5Cs) II. Formulate Marketing Programs (4Ps) PRODUCT PRICE PROMOTION PLACE Prof. Natalie Mizik – 2010 MIT 15.810 .

Natalie Mizik – 2010 MIT 15. ESPN International) Read: “The Cost of Myopic Management” Read: “Myopic Marketing Management” Thanksgiving Read: “Building a Marketing Plan” Final Projects Due Final Project 6. 17.15. Young&Rubicam) Case: Rohm and Haas (A) Read: “Aligning Incentives in Marketing Distribution Topic Assignment HW Assignment 4 Final Project Proposal Channels” II. Sept 22 Developing Marketing Strategy Developing Mkt Strategy Segmentation. Sept 29 18. Analyzing Markets and Identifying Opportunities Introduction and Company Analysis Competitive Analysis Customer Analysis I Customer Analysis II & III: Value to the Customer and Customer Lifetime Value Case/Readings Case: Federal Express (B) Read: “Note on Marketing Strategy” Read: “Basic Quantitative Analysis for Marketing” Read: “Analyzing Marketing Problems and Cases” Case: American Airlines (A) Skim: “Managing the Competition” Read: “How to manage an aggressive competitor” Read: “To Understand Your Customers. 5. Sept 8 13. Read: “The Worst of all Bets” STP-based Strategy and IBS Read: “Betting Your Life on It” Read: “Behavioral Addictions” IBS. Oct 25 Case: Harrah’s Entertainment Inc. You Have to Know How they Think” Read: “A Nobel That Bridges Economics and Psychology” Read: “Economic Benefits and Value Creation” Read: “Zero Defections: Quality Comes to Services” Read: “Customers As Assets” Assignment III. Nov 15 Special Topics International Market Entry International Branding Course Summary No Class Team Presentations Case: Citibank: Launching the Credit Card in Asia Pacific (A) Speaker: Juan J. Inc.. Sept 20 16. GenArts. Demand Markets former COO and CFO of Massive Inc. Nov 17 8. Oct 4 9. Nov 3 3 Sept 15 15.810 . Sept 13 14. Social Speaker: Ron Gonen (Founder and CEO. Formulating Marketing Programs Session Date 12.810 Course Structure: I. Oct 6 Oct 11 10. Marketing & Program Development.) Case: Medicines Co Price Read: “Pricing Opportunities” Read: “Ethical Issues in Pricing” Read: “Who Benefits from Price Promotion?” Read: “Marketing Communications and Customer Promotion Response” Speaker: John Gerzema (CIO. Sept 27 7. for Multi-Sided Speaker: Katherine Hays (CEO. Oct 27 Marketing Survey due by 7:00 pm HW Assignment 1 Session Date Topic 1. Targeting and Positioning EVC-Based Strategy Case: Aqualisa Quartz: Simply a Better Shower Skim: “Segmentation and Targeting Analysis” Skim: “Value Proposition and Positioning” Case: Optical Distortion. Nov 29 No class December 1 No class Case Write-up due by 10 am 5 Prof. HW Assignment 2 IV. Nov 10 Case/Readings Read: “Product Development: A Customer-Driven Product Approach” Read: “First-Mover Disadvantage” Mktg Products Case: Massive Inc. Responsibility RecycleBank) and Marketing No class Columbus Day holiday Branding SIP Developing Mktg Strategy for Innovation Read: “How do Brands Create Value?” Read: “How to Better Value Branded Businesses” October 18-22 SIP Case: Sonance (A) 19. Alfonso (Vice President. Nov 1 2. Oct 13 Oct 18-22 11. Nov 8 4. Nov 22 HW Assignment 3 Nov 24 20. Inc.

Value of customers (CLV) 3. Segmenting. Developing marketing programs (Product. Positioning (STP) B. Value of brands (brand equity) C. Customers 2.What You Will Learn What to do A. Collaborators: 2. Promotion: 4Ps) B. Value of products (EVC) 2. Context. Analysis (Company. Competitors.810 . Natalie Mizik – 2010 MIT 15. 1. Targeting. Analytical tools 1. Frameworks to develop and evaluate marketing strategy. Place. Brands 5Cs) How to do it A. Strategy implementation Prof. Price. Marketing assets 1. Customers.

basic intro to marketing (take electives!)  Entrepreneurs—framework for identifying and exploiting market opportunities  Consultants—strategic framework and tools to facilitate firm decision-making  Financiers—where cash comes from. Natalie Mizik – 2010 MIT 15. alternative approaches to valuation 7 Prof.810 .Why it will help you  Marketers—gateway course.

Session 20 Final group project. Natalie Mizik – 2010 MIT 15.810  Course requirements     .15.810 Course Logistics  In-class requirements    Name tents. stable seating Effective participation No laptops or wireless devices – print out your analysis before the class Four individual Homework assignments One case write-up in groups of 4 (“Sonance” due Session 11) In-class group presentation. Session 20 8 Prof.

GenArts) Prof. but an emphasis on Developing an Integrated Marketing Strategy Juan J. Alfonso (VP. but an emphasis on  Harrah’s – privacy issues and marketing to vulnerable audiences  Bridging Theory and Practice  Throughout. Natalie Mizik – 2010 MIT 15. Young&Rubicam) Ron Gonen (Founder and CEO. Business & Society  Throughout. ESPN International) John Gerzema (CIO.810 9 .Course Special Elements  Ethics/ Individual. RecycleBank) Katherine Hays (CEO.

MIT OpenCourseWare http://ocw. visit: http://ocw.edu 15.mit. .810 Marketing Management Fall 2010 For information about citing these materials or our Terms of Use.edu/terms.mit.