Workshop Two

EBM 587
Strategic Business
Marketing
Workshop Overview

▪ Workshop One Elements of Marketing, Strategy and Research

▪ Workshop Two Understanding Customer Relationship + Individual Assignment
▪ Workshop Three New Product/Service Introduction+ Group Presentation + Class
Test
▪ Workshop Four Assessing & analysing the business markets + HBR case Analysis
▪ Workshop Five Segmentation and Positioning Strategy+ Group Presentation
+Mid Term
▪ Workshop Six Competitors analysis+ HBR Case Study
▪ Workshop Seven Assess Pricing Strategies+ Group Presentation + Class Test
▪ Workshop Eight Customer Lifetime Value(CLV)+Individual Assignment
Workshop Two – Objectives

• You will learn the components of modern marketing

information system

• Elucidate the concept of creating customer value, satisfaction

and loyalty

• Understand the issues behind retaining customer relationships

• Discuss the customer databases and database marketing

process
Workshop 2 Overview

▪ Discussion On Individual & Group Assignments 15 minutes

▪ Lecture on the macro environment issues 30 minutes
▪ Lecture on building the customer value, satisfaction and loyalty issues 60
minutes
▪ Group Activity: Video-hyperlinks & Discussion On Video 30 minutes
▪ Lecture on Development Process 60 minutes
▪ Group Activity: Video-hyperlinks & Discussion On Video 30 minutes
▪ Workshop Summary And Preview Of Next Workshop 15 minutes
GROUP PROJECT - Project Overview

Marketing Plan
• Prepare a 3,500-4,200-word fully integrated and final Marketing Plan. Throughout the course you will be submitting
different components of the Marketing plan. Incorporate an executive summary and table of contents for the written
marketing plan. The marketing plan should also include a detailed Action Plan, a projected P&L statement, and
recommended controls for monitoring the plan progress. (Note: The University Material, “Project Overview” below,
should be used as the reference for determining the scope and organization of topics within the written marketing
plan. However, the discretion of your instructor, may offer more specific guidelines, suggestions, and areas of
recommended emphasis that will require consideration in the final Marketing Plan The outline below describes the
critical elements and a suggested organization for the Marketing Plan Project. All submitted Marketing Plans should
strive for these basic attributes:
• Creativity
• Thorough, practical and realistic
• Integrated
• Strategic and tactical, and a guide on which to base decisions
• Plain English and clear thinking, that clarifies and distills the marketing problem
• Tied to the organization’s mission and business objectives, strategies, and tactics
Project Outline (Part One)

1. Background information on company

a. Name
b. Geographic location
c. Objectives/Resources (financial and staffing)
d. Product mix
• Single product
• Product line
• Several product lines
2. Mission Statement
a. Company’s basic values and philosophy
b. Corporate vision
3. New Product Description
Project Outline (Part Two)

4. Situational Analysis
a. Historical background of the industry
b. Scope of the market
c. SWOT analysis
1) Strengths (internal)
2) Weaknesses (internal)
3) Opportunities (external)
4) Threats (external)
5. Market Research
a. Consumer analysis
1) Demographics
2) Psychographics
3) Behaviors (e.g., purchase of use habits)
4) Geographical considerations
b. Industrial analysis, if applicable
Project Outline (Part Three)

6. Competitive Analysis
a. Identification of competitors
b. Competitors’ strategies
7. Target Market
a. Primary and secondary market
b. Market segmentation
c. Niche market
8. Marketing Objectives and Strategies
a. Product
1) Type (e.g., good, service, and idea)
2) Features (how will it be different from the competition)
3) Stage of the Product Life Cycle
4) Identification (brand name, label, and packaging)
5) Adoptive process
6) Regulations regarding your product
7) Sample of product
Project Outline (Part Four)

8. Marketing Objectives and Strategies Con’t

b. Place
1) Channels of distribution (manufacturer, wholesaler, retailer)
2) Product location availability
3) Physical distribution/location of facilities/modes of transportation
c. Pricing
1) Policy (above, below, or with the market)
2) Elasticity of demand
3) Skimming or penetration strategy for introducing new product
4) Cost (to produce)
5) Break-even point
6) Markup
7) Suggested selling price
8) Sales prices, discounts, coupons, credit terms
9) Price and quality relationship (customer’s perception)
Project Outline (Part Five)

8. Marketing Objectives and Strategies Con’t

d. Promotion
1) Personal selling
a) Profile of the sales force
b) Number of salespeople
c) Selling techniques
d) Compensation system for salespeople
2) Advertising
a) Media mix (e.g., television, magazines, outdoor, direct mail, radio, Web page, etc.)
b) Media Schedule (e.g., frequency and reach)
c) Slogan and message
d) Sales promotion activities
e) Public Relations
f) Samples (display ad, video of TV ad, audio of radio ad, Web page, etc.)
9. Budget
10. Control
a. Feedback mechanism to monitor progress
b. Evaluation process
Marketing Plan Grading Guidelines

The full written Marketing Plan is due in Week Ten, as well as a 20-30 minutes Microsoft PowerPoint presentation of the plan. The
written report is worth 50 points; and the presentation is worth 50 points. Of the 50 points possible for the presentation, 25 points will
be based upon the composite group’s presentation and 25 points based upon the performance of each individual. Therefore, each
member of the group will have “individual accountability” on the project because the total grade (100 points) is made up of a group (75
points) and individual (25 points) grade. The presentation must include each member of the group.
• The written report (50 points) will be graded on:
• Content (50%)
• Thoroughness (10%)
• Organization (10%)
• Creativity (10%)
• Mechanics (20%)

• The presentation (total possible points are 50 comprised of both group [25 points] and individual [25 points] portions) will be graded
on:
• Content (30%)
• Organization (20%)
• Presentation skills/Reliance on notes (20%)
• Effectiveness of visual aids (10%)
• Enthusiasm (10%)
• Creativity (10%)
Workshop Three -Case Analysis

Prepare a 1,050-1,400-word Case Analysis based upon the case you select from the Marketing Management text book. The purpose of this
analysis is to provide an opportunity to assess and apply marketing concepts to a real situation. Conclusions and recommendations should be
focused on, but not limited to, the marketing aspects of the situation. The recommendations must be based upon the facts included in the
situation analysis and be supported with logic. The analysis should include, but is not limited to, the following:
1. Situational Analysis to include a review of the company/product, relevant facts, a brief history, and a current situation.
2. Updated information (from the Internet) relevant to the situation presented in the case.
3. SWOT Analysis. The SWOT Analysis focuses on Strengths, Weaknesses, Opportunities, and Threats as applicable to the case study or your
new product. Strengths and Weaknesses are those factors which are controlled by the company and are internal variables focusing on the
specific aspects of the 4 P’s (Product, Price, Place, and Promotion). Opportunities and Week three specific aspects of the 4 P’s (Product,
Price, Place, and Promotion). Opportunities and Threats are outside of the firm’s direct control and are, therefore, non-controllable factors
that can be positive (Opportunities) or negative (Threats) to the firm. These external factors are assessed by taking into account
competitive, technological, economical, political/legal, and social environments. A bullet point list will suffice for your SWOT analysis; the
remainder of your paper is expected to be in paragraph form.
4. Recommendations, including responses to the questions posed at the end of the case
5. Conclusion
• The assignment is due in Workshop Three
• You need to make 6–8-minute presentation of 10—15 slides and submit your 1,050 – 1,400-word paper
Individual Assignments – Written
Timeline Task

Week Two Market Demand/Potential Paper

Prepare a 700-1050-word paper after conducting secondary research, estimate the current market
demand and market potential for the service or product within a defined geographical area that
prescribe your conclusion the steps you took, and the supporting information used in making your
estimates on choosing a service or product or select one from a list the instructor will provide.
Week Four HBR Case Study - Prepare a Summary for the Case – 700 words

Week Six Segmentation and Positioning Analysis

Using the same product or service from the Workshop Three assignment (or a new one) define a
segmentation strategy. Identify one or more target markets, including demographic and
psychographic profile. Prepare a perceptual map and a description of the optimal positioning that
you have selected. Prepare a 1050-1400 word paper that summarizes your analysis and
conclusion.
Week Eight Pricing Analysis
Choose one of the following product/services: books, computers CDs, banking investment service,
or insurance. Research the pricing of your selected product/service at three different point-of-
purchase locations (e.g. online, retail chain, single-line specially location. Prepare a 1050-1,400-
Discussion On Individual & Group Assignments (15 minutes)

• Collect Market Demand/Potential Paper and provide feedback or answer

questions about the milestone and/or tasks.

• Offer assistance to the Groups that are experiencing difficulties.

 Lecture on Macro
Environment Issues

• https://www.youtube.com/watch?v=7hoa77wpT7s

• The macro environment explained. What is a macro environment? The company is

not alone in its business environment. The Macro environment is part of the
external environment of business. This context is called the Macro Environment.
Businesses are surrounded by and operates in a larger context.
• The macro environment is a important part of the business environment and
therefore important for your business. It consists of all the forces that shape
opportunities, but also pose threats to the company. A macro environment is the
condition that exists in the economy as a whole, rather than in a particular sector
or region.
• In general, the macro environment includes trends in gross domestic product
(GDP), inflation, employment, spending, and monetary and fiscal policy. The
macro environment is closely linked to the general business cycle as opposed to
the performance of an individual business sector. It is also important to take the
Macro environment in to account for marketing.

This Photo by Unknown Author is licensed under CC BY-SA-NC

Lecture on Building Customer Value,
Satisfaction and Loyalty Issues

This Photo by Unknown Author is licensed under CC BY

Why is customer satisfaction important?

This Photo by Unknown Author is licensed under CC BY-SA-NC

Creating the next level of customer value

• https://www.youtube.com/watch?v=6XOQU
HkCOB8
How to identify customers' challenges and
generate the right ideas to overcome them?
How to set a co-creation process with the
customer?
These are some of the questions that Eckard
Eberle (CEO at Siemens Process Automation)
anwers in this interview.

This Photo by Unknown Author is licensed under CC BY-SA-NC

Secondary Data

• https://www.youtube.com/watch?v=6PvEpei8LfU
• Strategy Steven explores 6 reasons why secondary research is
conducted, and how it is typically used in today's work
environment.
• Why do secondary research first?
1. It may allow you to skip doing primary research
2. Informed Costing
3. Wise Hypothesis
4. Smart Segment Breaks
5. Complete Competitor Lists
6. Complete Criteria Lists

This Photo by Unknown Author is licensed under CC BY-SA-NC

Primary Sources

• https://www.youtube.com/watch?v=0UX0LWyV
6G4
• This video will define primary sources, and
explain how to identify, locate, and request
them from the Stanford Libraries.

This Photo by Unknown Author is licensed under CC BY

Quantitative/ Qualitative Research Methods

• https://www.youtube.com/watch?v=a-
XtVF7Bofg
There are two approaches to collecting and
analyzing data: qualitative research and
quantitative research. This video will explain
the differences between the two research
methods, as well as the mixed-methods
approach.

This Photo by Unknown Author is licensed under CC BY-SA

Data Collection Method: Interviews

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Semi-structured interviews guide I semi-structured interview
protocol

• https://www.youtube.com/watch?v=8z8XV1
S7548

6 tips for designing a semi-structured interview

guide So, you want to design a guide (or
protocol) for your semi-structured interview, as
part of your qualitative research project?
This video shows you how to develop the right
questions and ask them in right order, so you
can get the information you need every time!
GET YOUR FREE SEMI-STRUCTURED INTERVIEW
TEMPLATE: https://www.ifdsl.org/ifdsl-get-
your-...
This Photo by Unknown Author is licensed under CC BY-NC
Creating Customer Loyalty and Stickiness

• https://www.youtube.com/watch?v=izFH
WR8-NUg
What's the key to having a successful
business? The happiness of your customers,
of course.
Customer satisfaction should always be the
#1 priority. And this is what drives the
success of any business.
In this video, we talk about why customer
satisfaction is important and we also reveal
how to make your customers happy.
This Photo by Unknown Author is licensed under CC BY-SA-NC
 1. How would you explain the
dependence between
Discussion customer's loyalty and
company's profitability?
Question – 2. What are the factors
affecting on students'
30 minutes loyalty towards their higher
educational institutions?
Lecture on Development Process
a. Key Steps to develop a new product or repositioning an existing product
1) Idea generation/screening
2) Concept development and testing
3) Marketing strategy development
4) Business analysis
5) Product development
6) Market testing
7) Commercialization
b. New product categories
1) New to the world
2) New Product lines
3) Additions to existing product lines
Lecture on Development Process Con’t
b. New product categories Con’t
4) Improvements and revisions of existing products
5) Repositioning
6) Cost reductions
c. Deployment of company resources
1) Prioritization of company resources
2) Internal vs External
3) Integration of various departments and disciplines with the new product
development process
Key Steps to Developing New Products

• https://www.youtube.com/watch?v=80
7HrNwx9NY
When firms develop new products there
are a number of steps they go through.
From idea generation to prototype
development to product development to
commercialization to assessing the new
product and a few more steps along the
way.
This Photo by Unknown Author is licensed under CC BY-NC
New Product Categories

• https://www.youtube.com/watch?v=hLltk
C-G5dY

The playful wonderland behind great

inventions | Steven Johnson
Necessity is the mother of invention, right?
Well, not always. Steven Johnson shows us
how some of the most transformative ideas
and technologies, like the computer, didn't
emerge out of necessity at all but instead
from the strange delight of play. Share this
captivating, illustrated exploration of the This Photo by Unknown Author is licensed under CC BY-SA
history of invention. Turns out,
Using Data to Reposition New Product

• https://www.youtube.com/watch?v=66Ueokb2cxM
Marketing Consultant Gary Hennerberg explains how we used data to drive the
positioning for a product and create a marketing break-through with significantly
higher sales.
The client was Assurity Life Insurance, and the product was a guaranteed issue life
insurance policy.
The break-through came from interpreting the statistics and translating facts and
figures into a marketing message worth millions of dollars.
We learned that the typical buyer was a woman in her late 50s and a grandmother.
Her greatest interest in her life was her grandchildren, and she enjoyed reading the
bible or devotions. For fun, she enjoyed playing contests. With these insights, we
repositioned this life insurance plan as benefiting the future of her grandchildren, or
a favorite charity.
 1. Which is more important in the development of new
products – marketing, sales, production,
procurement, R&D, or finance? Why? What happens
when/if these disciplines are not aligned when a new
Discussion 2.
product is being developed and launched?
How is the development of a service different than a
Question – 30 physical good (product)? What changes might be
made to the process? Are there any additional steps
minutes that would be added to development phases?
Consider additional processes that must be in place
for a new service to be implemented effectively.
3. If the product/service could be marketed globally,
how would this effect product development? How
would you assess global market opportunities?
Workshop Summary & Preview of the Next Workshop(15 mins)

• Summarize the objectives for this workshop

• Preview the next workshop.

• Please remember to collect any individual assignments that are

due
Homework Assignment

Individual Assignment
1. Required reading:
Read ……. in the text …….e-book

2. HBS Case Study

Prepare a 350 - 700 words paper of the HBS Case Study to be Submitted in Workshop Four

3. Prepare for Quiz in Workshop Three

Group Project Workshop Three -Case Analysis
Prepare a 1,050-1,400-word Case Analysis based upon the case you select from the Marketing Management text book. The purpose of this
analysis is to provide an opportunity to assess and apply marketing concepts to a real situation. Conclusions and recommendations should be
focused on, but not limited to, the marketing aspects of the situation. The recommendations must be based upon the facts included in the
situation analysis and be supported with logic. The analysis should include, but is not limited to, the following:
1. Situational Analysis to include a review of the company/product, relevant facts, a brief history, and a current situation.
2. Updated information (from the Internet) relevant to the situation presented in the case.
3. SWOT Analysis. The SWOT Analysis focuses on Strengths, Weaknesses, Opportunities, and Threats as applicable to the case study or your
new product. Strengths and Weaknesses are those factors which are controlled by the company and are internal variables focusing on the
specific aspects of the 4 P’s (Product, Price, Place, and Promotion). Opportunities and Week tThree specific aspects of the 4 P’s (Product,
Price, Place, and Promotion). Opportunities and Threats are outside of the firm’s direct control and are, therefore, non-controllable factors
that can be positive (Opportunities) or negative (Threats) to the firm. These external factors are assessed by taking into account
competitive, technological, economical, political/legal, and social environments. A bullet point list will suffice for your SWOT analysis; the
remainder of your paper is expected to be in paragraph form.
4. Recommendations, including responses to the questions posed at the end of the case
5. Conclusion
• The assignment is due in Workshop Three
• You need to make 6-8 minute presentation of 10—15 slides and submit your 1,050 – 1,400 word paper
Use This Project Outline For Workshop Three
1. Background information on company
a. Name
b. Geographic location
c. Objectives/Resources (financial and staffing)
d. Product mix
• Single product
• Product line
• Several product lines
2. Mission Statement
a. Company’s basic values and philosophy
b. Corporate vision
3. New Product Description
Use This Project Outline For Workshop Three

4. Situational Analysis
a. Historical background of the industry
b. Scope of the market
c. SWOT analysis
1) Strengths (internal)
2) Weaknesses (internal)
3) Opportunities (external)
4) Threats (external)
• Recommendation – Your Conclusion
Moodle Discussion

• https://www.youtube.com/watch?v=12eD3K5Peu8
• Business Lessons That You Can Learn From The Streets Of India | Capt.
Raghu Raman | Josh Talks

• Share some business lessons from the streets of India and what can you
learn from it? What do these entrepreneurs need to do to be successful?