IMBA 6090
Spring 2015
Ajay K. Kohli ajay.kohli@scheller.gatech.edu Agenda
• Introduction
• Course overview
• What is marketing?
• Marketing management framework
• The evolving landscape
2
Agenda
• Introduction
• Course overview
• What is marketing?
• Marketing management framework
• The evolving landscape
3
Introduction
• Tent cards
• Index cards
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Name + phone number
Interest area if any (e.g., marketing, finance . . .)
Degrees: universities + majors
Current employer + responsibility
One interesting “factoid” about you!
• Next class - a photograph 3-5 inches diagonal (optional)
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Agenda
• Introduction
• Course overview
• What is marketing?
• Marketing management framework
• The evolving landscape
5
Course description and components
• A survey course
• Multiple pedagogical approaches
– Lecture-discussions
– Case discussions – restrict ourselves to information in the cases
– Three case write-ups (two Group, one Individual) – 4 pages max
– One simulation + write-up (Group) – 3 pages max
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Some specifics
• Email me if you will have to miss a class
• Insightful contributions are valued, not mere “talking”
• What is a good contribution?
• Same seat if you can, please
• Let me know at the beginning of class if an emergency makes it impossible for you to engage in class discussion
• Peer evaluations of class contributions and group projects
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Honor code and logistics
• Simulation access
• Familiarize yourself with the GT honor code, expectations
• Electronic devices in class
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Agenda
• Introduction
• Course overview
• What is marketing?
• Marketing management framework
• The evolving landscape
9
What is marketing?
• Marketing is not selling people things they don’t really want
It is not just . . .
• Advertising
• Telemarketing
• Running promotions in retail stores
• E-mailing offers . . .
• Creating neat brochures
& websites
• Events
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What is marketing?
• Marketing is not selling people things they don’t really want
It is not just . . .
• Advertising
What is it
?
• Telemarketing
• Running promotions in retail stores
• E-mailing offers . . .
• Creating neat brochures
& websites
• Events
11
What is marketing?
Upstream Activities
Invisible to Outsiders
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Research
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Customer needs, customer decision-making process, market size, competitor capabilities . . .
Planning
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Which customer segments?
What value proposition?
Product design, product line choices
Go-to-market (channel) strategy
Which media and what message?
Demand estimation/forecasting
Pricing structure . . .
Product development input . . .
Downstream Activities
Visible to Outsiders
• Advertising
• Telemarketing
• Running promotions in retail stores
• E-mailing offers . . .
• Creating neat brochures
& websites
• Events
12
Marketing is a set of activities
Upstream Activities
Invisible to Outsiders
Activities that create superior value for key stakeholders
Downstream Activities
Visible to Outsiders
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OVP
Customer
value
Collaborator value (Optimal Value
Proposition)
Company value 13
Marketing is a department
•
What happens in firms without marketing departments
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?
“Marketing is too important to be left to the marketing department”
David Packard
(1912-1996)
“Big M” vs. “small m” marketing
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Marketing creates shareholder value
Cash Flows
Enhance
Cash Flow
How?
Accelerate
Cash Flow
Reduce Risk
(Decrease Vulnerability
& Volatility of Cash Flow)
Source: Srivastava, Shervani and Fahey
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Time
“Marketing is everything.” Regis McKenna
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What is marketed?
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What is marketed?
Goods
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What is marketed?
Services
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What is marketed?
People
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What is marketed?
Places
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What is marketed?
Ideas
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Agenda
• Introduction
• Course overview
• What is marketing?
• Marketing management framework
• The evolving landscape
24
The G-STIC framework
Goal
Strategy
Focus of the course
Tactics
Implementation
Control