Marketing - EMBA Programme
Imagine you want to start your own business and need to sell a new product or service. First you must understand the market you are going to be operating in. How big is it? Is it growing? Who are the main players? What is the competition like? But this knowledge is not helpful without a second step: understanding how potential customers make their choices and how to segment them into different groups. Third, you must develop your long-term marketing strategy by choosing a target segment and defining the benefits of your product or service for these customers. Fourth, you must make your tactical decisions about how to communicate, deliver and capture the customer value. Finally, you have to monitor performance continually. These steps are at the heart of marketing management and will be the focus of this course. Remember, marketing is a process and not a company function!
Brands are often viewed as the most important asset that firms possess and manage. Yet unlike traditional assets, brands are intangible, dispersed, and often ill-defined. As a result, marketing decisions are often made in isolation without taking into account their impact on brand equity. In this course, we will examine marketing strategy from a branding perspective, and address the most important issues involved in building strong brands and in maximising the value of existing brands. This course is designed to help general managers operating in a branded industry improve their marketing strategy.
This course will provide an important tangible advantage: practical actionable insights on how to understand and influence customers. As many industries are becoming more competitive and customers increasingly demanding and critical, it is more important than ever to thoroughly understand customer perceptions, opinions, needs and wants. One goal of this course is to achieve this as understanding customers allows firms to offer truly appealing products and services. Another valuable skill that this course will cultivate is that of influencing customer preferences and perceptions. We will review fundamental principles of judgment and decision-making and explore how such principles provide concrete tools for shaping customers’ preferences and managing their perceptions. This course will leave you with central concepts in customer decision making and with a unique perspective on marketing.
Strategic Market Orientation
Markets are dynamic and customers’ needs, preferences and decision making processes keep changing. Your competitors are constantly trying to outsmart you and your own technical and human resources are scarce. In many cases, your strategy is obsolete even before you started to execute, yet you must worry about both strategy and execution. Like pilots, learning the manual by heart is not enough and experience is the best teacher. That is why flight simulators are important, and this course allows you to simulate strategic market decisions using the INDUSTRAT simulation. Unlike other simulations, INDUSTRAT is close to “real life” including the complexities of technology, development, sales and technical forces, etc. Through this, you will make decisions while applying modern strategic marketing concepts, sophisticated analytical tools and decision support systems based on a rich base of market research. By combining theory, analysis and intuition, this course allows you to gain the experience of making strategic marketing decision which otherwise would take many years to build.
Key Management Challenge
Gaining Market Leadership
GML focuses on how firms gain and maintain market leadership over the mid to long term. In particular, this KMC looks at the key decisions the chief marketing officer or chief revenue officer and his or her top team face over a period that spans several budgeting cycles. These key decisions primarily concern the firm’s brand and product portfolio, that is, whether to launch new brands, reposition existing brands or kill under-performing brands. A central component of these decisions is how the top team should best allocate the firm’s resources, both financial and human, to this portfolio in order to achieve sustainable efficient growth.
To manage a brand portfolio successfully over several years and gain and maintain market leadership against competitors with similar objectives requires the top team to integrate all the various activities of marketing into a coherent strategy. The vehicle for this in most firms is the strategic marketing planning process. The 5-year rolling plan that results from this process integrates marketing and sales activities and provides the basis for the organization as a whole to execute the strategy effectively in the market place.