- 1.5 credits
- Prerequisite: MBA Core and M511. May be taken without M511 only by permission of instructor.
The development and effective implementation of marketing strategy is a problem-ridden and difficult management issue. While marketing strategy is an area where marketing theory and marketing practice should be closely connected, this is often not the case, causing significant problems. Therefore, M512 will address marketing strategy from a very ‘real world’ perspective, but draw heavily on appropriate developments in theory and empirical evidence that are often not widely understood and used in practice. The class will increase your understanding of the strategic and managerial issues in formulating and implementing marketing strategy and provide the necessary tools, concepts, theories and evidence.
To attain these goals, M512 will examine marketing strategy from a theoretical, empirical, and practical perspective as follows:
- Understanding Sources of Competitive Advantage. In the first section, we will draw on various theories of firm performance to identify different ‘raw materials’ available for creating and sustaining competitive advantage through marketing strategy. We will focus in particular on the role of market orientation as a source of competitive advantage.
- Developing Marketing Strategy Content. In the second section, we will address the most important aspects of marketing strategy content: selecting markets in which to deploy available resources; developing appropriate value propositions; and, timing market entry.
- Implementing Marketing Strategy. In the third section, we will address how marketing strategy content can be effectively delivered. This section will examine critical issues including: the strategy implementation process; marketing organization design; interfunctional interfaces; marketing performance assessment; and, the marketing planning process.
The course is roughly 50% case discussion and 50% lecture/ discussion. Grades are based on one or two written case analyses, class participation and a final exam.