Bachelor 2021/2022

Marketing Strategy

Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'

Category 'Best Course for New Knowledge and Skills'

Type: Elective course (Marketing and Market Analytics)

Area of studies: Management

Delivered by: Department of Marketing

Where: Graduate School of Business

When: 4 year, 2 module

Mode of studies: offline

Open to: students of one campus

Instructors: Aleksandr Rozhkov

Language: English

ECTS credits: 3

Contact hours: 30

Course Syllabus

Abstract

The course is focused on the Marketing strategy implementation in a virtual simulation environment. The simulation (Digital Markstrat) has been used by the top business schools worldwide for the past 30 years. Used in combination with traditional training methods such as conceptual sessions or case studies, Digital Markstrat is a highly effective tool to learn strategic marketing concepts, such as brand portfolio strategy, segmentation and positioning strategy, as well as operational marketing. The Digital Markstrat simulation lasts for 8 periods that are distributed throughout the course. Students manage competing firms in a durable goods electronics market and make decisions regarding different aspects of the marketing strategy: production volume, pricing, target audience selection and product design. Each individual teams performance is measured through an integral indicator of the stock price index (SPI). It is based on the market share, financial performance and brand value for every company and is calculated every period to provide complex feedback. In order to achieve the course objectives student form teams of 4-5 people and make decisions based on the group discussions. The goal of the course is to explore the Marketing strategy concepts and endorse systematic vision of the marketing strategy. In order to facilitate group dynamics and help student teams make particular decisions regarding customer segment analysis or pricing we have in class discussion sessions.

Learning Objectives

• Students know and understand key concepts and models of marketing strategy including brand portfolio strategy, segmentation and positioning strategy, as well as operational marketing in the context of managerial activity.
• Students realize the results of strategic and operational decision implementation both on the organizational level and in particular managerial functional areas.

Expected Learning Outcomes

• Decision making in marketing strategy field including pricing, new product development, product positioning.
• Student knows key features and functions of Markstrat simulation, work process and final grade components
• Students have applied skills of analysis and decision-making in Marketing strategy
• Systematic knowledge of the managerial process with marketing, production and research facets.

Course Contents

• Topic 1. Introduction to the Markstrat Simulation by StratX
• Topic 2. Marketing Strategy Fundamentals
• Topic.3. New Business and Market Entry Strategy
• Topic.4. Portfolio Strategy
• Topic.5. Final Session: Markstrat debrief and team presentations

Assessment Elements

• Markstrat online test
  Students will take online test (multiple choice) to check their knowledge of the key functions and areas of Digital Markstrat system. The questions are based on the Participant Handbook. Key objective of this assignment is to make sure that all students know the Participant Handbook and are ready to participate in the simulation.
• Seminar discussions (individual + group)
  As the simulation progresses the teams need to analyze new data, changes in the market including consumer preference and competitive actions. Each round requires a number of decisions to be made. In order to make sure these decisions are well grounded and based on the market data analysis teams present their key insights to the instructor. This assignment requires the team to analyze their performance during the past rounds and suggest new decisions. All team members are expected to participate in the group discussion of their performance during classes. Every session one of the team members is selected to conduct the presentation, all other students are expected to contribute in the discussion. Students are expected to prepare a presentation to support their reports. As we have 8 rounds in the simulation, so every team member becomes the team leader for a particular round. To make discussion more efficient the presenting team is required to prepare a presentation (up to 5 slides). Discussion sessions include presentations (7 min.) and questions (10 min.).
• SPI index (Markstrat)
  Course participation requires that every student uses her own Markstrat access credentials. You may discuss your team strategy as a group but every student must access market and company data directly to insure proper contribution. Student who did not participate in the teamwork during the course and/or did not access the Digital Markstrat system using their personal account will get 0 points for the assignment. Teamwork is assessed based on the peer-assessment survey at the end of the course.
• Exam
  Course exam includes several elements in order to make sure all students have mastered various aspects of the course. Exam includes several multiple choice and open questions on Marketing Strategy and firm performance during the simulation. Exam is conducted in written form, using online platform with proctoring. For any retakes the procedure and exam grade share in the final course grade stay the same (30%).
• Markstrat Progress reports
  This is a written document that is submitted by the team after the end of the simulation. In this document the team highlights its initial strategy, key changes to this strategy, key drivers of the changes implemented and assessment of the final position of the firm. The document should discuss what major decisions where made, why your team made that decisions and what happened as a result. Also the team members are encouraged to discuss what they learned from the simulation. All teams are required to submit the first version of the plan reflecting initial firm position and key analysis results after Round 2. This part is 20% of this assignment. Final version is submitted after Round 8. This part is 80% of the assignment. Student who did not participate in the teamwork during the course and/or did not access the Digital Markstrat system using their personal account will get 0 points for the assignment Markstrat progress report (final). Teamwork is assessed based on the peer-assessment survey at the end of the course.

Interim Assessment

• 2021/2022 2nd module
  0.2 * SPI index (Markstrat) + 0.05 * Markstrat online test + 0.3 * Markstrat Progress reports + 0.3 * Exam + 0.15 * Seminar discussions (individual + group)

Bibliography

Recommended Core Bibliography

• Handbook of marketing strategy, , 2012

Recommended Additional Bibliography

• Baidya, M. K., Maity, B., & Ghose, K. (2019). Innovation in Marketing Strategy: A Customer Lifetime Value Approach. Journal of Business & Management, 25(2), 71–97. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=bsu&AN=138230268
• Blue ocean strategy : how to create uncontested market space and make the competition irrelevant, Kim, W. C., 2015

Authors

• ROZHKOV ALEKSANDR GENNADEVICH