LSE Int'l MKTG Syllabus

MN 413 Course Unit Specification
MN 413 International Marketing: A Strategic Approach 2011-2012 Course Outline
Department of Management Managerial Economics and Strategy Group London School of Economics and Political Science
GENERAL INFORMATION
Unit Title International Marketing: A Strategic Approach
School responsible
Managerial Economics & Strategy
TEACHING ACADEMICS
1. TEACHING ACADEMICS Course Leader, Lecturer & Class Teacher Name Dr. Vishal Talwar Room F5.29 (NAB) Tele +44(0)20 7107 5170 Fax +44(0)20 7955 6887 Email V.Talwar@lse.ac.uk Office Hours Friday: 11 am 1pm
COURSE DESCRIPTION & OBJECTIVES

By creating and fulfilling wants and needs, marketing creates value for an organisation's customers. The value it creates translates to substantial dividends for the firm and its stakeholders. The goal of this course, accordingly, is to delineate the means of creating and fulfilling these wants and needs. Regardless of what role you ultimately play in an organisation, a thorough understanding of marketing principles and strategies is essential if you are going to play an active role in the success of the venture. This course aims to introduce students with little or no previous experience of the discipline of marketing to its role in the overall management process, principally at a strategic but also at an operational level. It aims to consider the process and nature of Marketing Management in different organisational contexts and environments and to develop an understanding of the key elements and the dynamics impinging on marketing decisions. We study how consumers behave and make decisions, and how firms can use the various elements of marketing strategy to address the needs of those customers. Like most other evolving academic disciplines, marketing theory has its limitations and students will be encouraged to question these and to suggest ways of overcoming its many problems. In this sense, marketing will be treated from a critical perspective. The course is ideally suited for those who wish to develop a basic critical appreciation of marketing. Through the use of case studies, participants will develop their practical skills
MN 413 Course Unit Specification by applying learned theories to real world organisational problems. The cases are drawn from various industries and countries, giving the student exposure to a wide variety of internationally orientated marketing issues.
AIMS
The programme unit aims to:
1. Increase your knowledge and understanding of the principles and processes of marketing as well as develop your judgement skills when applying marketing concepts. The course provides a blend of academic rigour and practical application. 2. Provide a strategic analysis of the various marketing principles and how marketing fits into the overall business process 3. Understand that there are a variety of possible tools and techniques that can be used in marketing and that these vary according to the domain and context in which they occur 4. Understand consumers and marketing as a whole from both an economic and psychological perspective
LEARNING AND TEACHING PROCESSES

The format of the course is a combination of lectures, case discussions in class and readings. We will be using the following teaching methods: Readings from academic journals, practitioner sources and textbooks Lectures Case study analysis and discussions
Great emphasis is placed on the use of marketing case studies to developing students skills at analysing and making sense of complex real world business situations, represented in the cases. Because of this, students are expected to come to class prepared and ready to discuss each case.
LECTURE SCHEDULE (see also Lecture and Class Details)

Lectures: Fridays, 5pm to 7pm Classes: Thursday (Time dependent on group allocation) Date/Session 7/10/2011 /10/2011 14/10/2011 /10/2011 21/10/2011 /10/2011 28/10/20 28/10/2011 /10/2011 Lecture Topic Introduction to Marketing (& the course) Marketing Myopia Strategic Situation Analysis Singapore International Airlines Consumer Motivation & Behaviour Multi-Attribute Decision Making How Marketers Think about Consumers Ford Ka (A) & (B) 4/11/2011 /11/2011 11/11/2011 /11/2011 18/11/20 18/11/2011 /11/2011 Product Diffusion, Tipping Points and the Lifecycle Adoption of e-books Pricing Decisions for Marketers London Olympic Games Branding & Integrated Marketing Communication Burberry 25/11/2011 /11/2011 Moving beyond the Marketing Mix Revision and Term Test Discussion 2/12/2011 /12/2011 9/12/2011 /12/2011 Global Marketing Strategy Zara: Creating a Fashion Icon 2 Hour Term Test Class Topic*** Topic***
***Cases for analysis/discussion along with questions to be answered will be distributed during lectures/classes or posted on moodle.
FORMATIVE ASSESSMENT
As part of the learning process, you are required to do the following written formative assessments: 1. One paired (Groups of 2) case analysis. This has to be submitted by Week 4 (you may submit earlier if you wish). This is in preparation for your summative assessments. The case to be analysed will be distributed in the lecture/class or posted on moodle.
SUMMATIVE ASSESSMENT
Assessment task Term Test Case Analysis (Individual)* Length/Duration 2 Hours Upto 2500 Words Weighting Scheduled/Due within unit (if date relevant) 9th of December 50% To be submitted 50% on the 2nd of December
* Case to be analysed will be distributed in Week 4
TEXT & READING MATERIAL1 The recommended textbook is:

Lambin, JJ-J, Chumpitaz, R. and Schuiling, S. (2007) Market Driven Management: Strategic and Operational Marketing, 2nd Edition, Palgrave Macmillan. Other useful texts are: 1. Kotler and Keller (2012) Marketing Management, 14th edition, Pearson PrenticeHall 2. Kotler, P. and Armstrong, G. (2010)Principles of Marketing, 13th Edition, Pearson, New Jersey 3. Brassington, F. and Pettiitt, S. (2006) Principles of Marketing, 4th Edition, FT Prentice Hall 4. Baines, Fill and Page (2008) Marketing, Oxford University Press 5. Peter and Olson (2007) Consumer Behaviour and Marketing Strategy, McGrawHill 6. Baker, M.J. (2007) Marketing Strategy and Management, 4th Edition, Palgrave Macmillan 7. Kumar, V. and Reinartz W. (2006) Customer Relationship Management: A Databased Approach, John Wiley & Sons 8. (Editors) Baker, M. and Hart, S. (2008) The Marketing Book, ButterworthHeinemann, Sixth Edition 9. Kotabe and Helsen (2011) Global Marketing Management, Wiley, 5th Edition 10. West, Ford and Ebrahim (2006) Strategic Marketing, Oxford University Press 11. Malhotra, N. (2007) Marketing Research: An Applied Orientation, Pearson International Edition 12. Usunier and Lee (2009) Marketing Across Cultures, Pearson Education, 5th Edition 14. Jobber, D. (2010) Principles and Practice of Marketing, McGraw Hill, 6th Edition 15. Rogers, E. (1995) Diffusion of Innovations 4th ed. New York: Free Press
Provisions for Possible Syllabus Addenda or Revisions: There may be changes in the assignments and dates. There could also be additions or changes to the readings issued. The students will be informed of any such changes and they should keep abreast with changes if and when these occur.
1
COURSE FORMAT
The course combines lectures with class discussions and readings/case analyses. The lectures are designed to reinforce and expand upon the material in the text and readings. Discussions are aimed at bringing new perspectives to the material in the text and fostering the application of text, readings and lecture content to marketing management situations. Your presence in class is essential to your ability to understand and apply the material covered in this course. Therefore, attendance is mandatory. mandatory However, it is understandable that, at times, other commitments (or illness) may prevent you from attending class. If for some reason you cannot attend a class, please inform me prior to the missed session. Of course, absence from class (informed or uninformed) does not exempt you from being responsible for all the material covered in class and being aware of any announcements made. Finally, please note that excessive absences reflect a lack of commitment and may affect your final performance.
CLASS PARTICIPATION PARTICIPATION

Learning in this class is related to your willingness to expose your insights and viewpoints to the judgment of your classmates. Thus, each one of you is expected to contribute to class discussions. This includes preparing for class by reading the text, readings and relevant articles or cases, as well as presenting your analyses, opinions, or summaries of material covered in class. Due to the interactive nature of the sessions, the questions outlined in the Course Pack may be amended during the class. Students may be called upon at random to summarize the previous day's material, comment upon the material being covered in class, or open a case discussion. If you do not want me to call on you on a particular day because you were unable to prepare, please notify me before class. More generally, if you are uncomfortable speaking in front of others, I encourage you to try; the classroom is a relatively risk-free forum (compared to work settings) for learning to express your ideas and contribute to group learning. When evaluating your contribution to the case and class discussions, factors such as the following are considered: Is the comment accurate, reflecting case facts but not merely restating them? Does the comment add insight to our understanding of the problem situation? Is the comment timely and does it advance the comments recently made by others? Does the comment move the discussion along by yielding a new perspective? Does the comment reflect a concern for maintaining a constructive and comfortable classroom atmosphere?
Quality class participation IS: Input that maintains the continuity and coherence of the class discussion. This rules out off-the-wall comments.
MN 413 Course Unit Specification Input that was picked up on and responded to by others in class. Thus, controversial, yet intelligent, questions or comments that reflect an understanding of the issue at hand will be well regarded. Input that demonstrates an in-depth analysis of the issue at hand, well supported by data or a relevant conceptual framework. Input that makes connections between material or ideas in different parts of the course or between this and other courses. Input that provides an example, from your own observations, of the subject at hand. Active participation in group team activities in class. Finally, civility in the give and take of a heated discussion is a requirement. The cases are designed to provoke disagreement, and there typically exists more than one viable approach to resolving the problems presented in the case.
These comments are intended to give you a general sense of what I am looking for in our discussions, and are intended to prepare you to be able to contribute to organizational decision-making in the business world.
LECTURE & CLASS DETAILS Lecture 1: Introduction to Marketing (& the course)
Text Chapters: Lambin et al 1,6 (selective) Readings: Jacques, A. (2010) Playing in the band: Marketing Lessons from the Grateful Dead,
Public Relations Tactics

Webster, F.E. Jr. (2005) A Perspective on the Evolution of Marketing Management, Journal of Public Policy & Marketing, Vol. 24, No. 1, pp. 121-126 Webster, F.E., Malter, A.J., Ganesan, S. (2005), "The decline and dispersion of marketing competence", MIT Sloan Management Review, Vol. 46 No.4, pp.35-9 Learning outcomes: 1. To appreciate marketings role in the organisation and wider society 2. To appreciate the central role of the customer (including the understanding of overarching concepts such as marketing concept & market orientation; its drawbacks and limitations) 3. Contextual understanding of reference market and market boundaries 4. Understand the changing marketing landscape and marketings relevance in the modern firm 5. Understand the linkages between marketing and sales Food for thought (Do you agree or disagree? and Why ?) 1. A marketing orientated company will define its mission statement based on the products it produces. 2. Marketing does not create needs but only satisfies them.
Lecture 2: Strategic Situation Analysis

Text Chapters: Lambin et al. (Chapters 8 & 10) Readings: Mintzberg, H. and Lampel, J. (1999), Reflecting on the Strategy Process, Sloan Management Review, Spring Gurau C. (2007) Porter's generic strategies: a reinterpretation from a relationship marketing perspectiveThe Marketing Review, , 7(4), 369-384 Hill, C. W. L. (1988), Differentiation versus low cost or differentiation and low cost? A contingency framework, Academy of Management Review, Vol. 13, 13 No. 3, pp. 401-412 Jarratt, D. and Stiles, D. (2010) How are Methodologies and Tools Framing Managers' Strategizing Practice in Competitive Strategy Development? British Journal of Management, 21(1), 28-43. Learning Outcomes: 1. Application based understanding of how the macro and micro environment affects marketing strategy 2. Notion of competitive advantage and application based understanding of Porters generic strategies; limitations, criticism and re-interpretation from current perspective 3. Assessing growth opportunities (including application of the Ansoff Matrix in strategy) 4. Practical & theoretical limitations and criticism of Growth Share Matrices (such as BCG) 5. Practical and theoretical understanding of competitive position tactics (market leader, challenger, nicher and follower)
Food for thought (Do you agree or disagree ? and Why ?) 1. Incumbent firms determine the maximum prices that the new entrants can charge 2. Lidl, the low cost supermarket chain adopts a frontal attack approach to competing against the bigger supermarket chains (e.g. Tesco)
Lecture 3: Consumer Motivation and Behaviour

Text Chapters: Lambin et al (Chapters 3, 4) Readings: Readings: A Managers Guide to Human Irrationalities, An interview with Dan Ariely, MIT Sloan Management Review, Winter 2009 Quelch, J. and Jocz, K. (2009), How to market in a downturn, Harvard Business Review, April 2009 Flatters, P. and Willmott, M. (2009), Understanding the Post-Recession Consumer,
Harvard Business Review, July-August

Bondy, T. and Talwar, V. (2011) Through Thick and Thin: How have Fair Trade Consumers Reacted to the Global Economic Recession Journal of Business Ethics, July Learning Outcomes 1. 2. 3. 4. Understand the importance of behaviour and behavioural economics Contextual understanding of the product/service acquisition process Contextual understanding of the characteristics affecting consumer behaviour Understand Consumer Behaviours implications on Marketing Strategy (for e.g. with respect to recession and other contemporary changes)
Food for thought (Do you agree or disagree disagree ? and Why ?) 1. Loyalty programmes are used to induce sunk cost behaviour 2. Fair trade product sales will surely be affected due to the economic recession and the subsequent changes in consumer behaviour
Lecture 4: How Marketers Think about Consumers

Text Chapters: Lambin et al (Chapters 6,7) Readings: Yankelovich, D. and Meer, D. (2006) Rediscovering Market Segmentation Harvard Business Review, Vol. 84, No. 2
Learning Outcomes 1. Different levels and bases for Consumer and Business Markets Segmentation (Application based understanding, implications on marketing strategy) 2. Different approaches to segmentation (including macro, micro, nested approach) 3. Product positioning development and creating positioning/perceptual maps Food for thought (Do you agree or disagree ? and Why ?) 1. Consumers who belong to the same segment have identical needs and wants 2. Benefits sought is an example of a behavioural segmentation variable 3. The more diversity there is in the marketplace, the more segmentation becomes essential
Lecture 5: Product Diffusion, Tipping Points and the Lifecycle

Text Chapters: Lambin et al Chapter 7, 11 Readings: Readings: Golder, P; Tellis, G. (2004) Growing, Growing, Gone: Cascades, Diffusion, and Turning Points in the Product Life Marketing Science, Spring2004, Vol. 23 Issue 2, p207-218. Dhalla, N.K., Yuspeh, S. (1976) Forget the product life cycle concept, 'Harvard Business
Review', Jan-Feb
Mahajan, Vijay, Eitan Muller and Frank M. Bass (1995), Diffusion of New Products: Empirical Generalizations and Managerial Uses, Marketing Science, Vol. 14, No. 3, 7988. Learning Outcomes: 1. Consumer adoption of products; Rogers diffusion curve 2. Drawbacks and criticisms of the product lifecycle concept 3. Understanding changes in product and marketing mix strategies over the lifecycle
Food for thought (Do you agree or disagree ? and Why ?) 1. Most low involvement products are advertised based on emotional benefits 2. Firms in unrelated industries can gain by using a pure bundling strategy
Lecture 6: Pricing Decisions for Marketers

Text Chapters: Lambin et al (Chapter 15) Readings : Gourville, J. and Soman, D. (2002) Pricing and the Psychology of Consumption Harvard Business Review, September, pp. 90-96 Skouras, T., G. J. Avlonitis, and K. A. Indounas. (2005) Economics and Marketing on Pricing: How and Why Do They Differ? Journal of Product and Brand Management 14(6): 362-374.
Koo, M., & Fishbach, A. (2010). A silver lining of standing in line: Queuing increases value of products. Journal of Marketing Research, 47, 713-724.
Learning Outcomes 1. 2. 3. 4. Contextual understanding of the different pricing procedures Differences in behavioural and economic approaches to pricing Understanding the customers perception of price and price sensitivity Competing based on price (pros and cons)
Food for thought (Do you agree or disagree ? and Why ?) 1. Price wars are more likely to occur when there is little brand loyalty in evidence from customers. 2. Price skimming is a form of time-based price discrimination 3. Price is not a marketing tool when the firm operates in an industry with undifferentiated products
Lecture 7: Branding & Integrated Marketing Communication

Text Chapters: Lambin et al 12, 16 Readings: Lodish, Leonard M., and Carl F. Mela (2007), If Brands Are Built Over Years, Why Are They Managed Over Quarters?, July/August, Harvard Business Review, 85, 7/8 (JulyAugust), 104-112. (source from Library Catalog) Rangaswamy, Arvind, Raymond R. Burke, and Terence Oliva (1993) Brand Equity and the Extendibility of Brand Names, International Journal of Research in Marketing, Special Issue on Brand Equity, Vol. 10, p. 61-75 Palazon-Vidal, M., Delgado-Ballester, E. (2005), "Sales promotions effects on consumerbased brand equity", International Journal of Market Research, Vol. 47 No.2, pp.179-204 Learning Outcomes: 1. Understanding Core Concepts in Branding (for e.g. Brand Equity) 2. Developing and actualising a positioning strategy (including perceptual maps) 3. Role of Integrated Marketing Communications (both traditional & non-traditional avenues) in Branding & the Marketing Strategy Process 4. Long-term effects of price promotions on brand equity
Food for thought (Do you agree or disagree ? and Why ?) Brand Value and Brand Equity are one and the same A brand like Mercedes has both tangible as well as intangible attributes.
Lecture 8: Moving Beyond the Marketing Mix

Text Chapters: Kumar and Reinartz (Chapter 8, included in course pack) Readings: Readings: Dowling, G., & Uncles, M. (1997). Do customer loyalty programs really work? Sloan Management Review, 38(4), 71-82 Hallberg, G. (2004). Is your loyalty programme really building loyalty? Why increasing emotional attachment, not just repeat buying, is key to maximizing programme success. Journal of Targeting, Measurement and Analysis for Marketing, Vol. 12, Issue 3, pp. 231241 Learning Outcomes: 1. Going beyond the marketing mix and 4Ps; moving towards a relationship orientation 2. Understand what we mean by a long-term relationship? The relationship lifecycle concept, relationship marketing 3. Contextual understanding of the Service-Profit Chain 4. CRM and associated concepts (CLTV, Customer Profitability etc.), their application 5. Application based understanding of loyalty and customer retention Food for thought (Do you agree or disagree ? and Why ?) 1. Attitudinal loyalty is better than behavioural loyalty 2. Customer loyalty and customer retention are one and the same
Lecture 9: Global Marketing Strategy

Text Chapters: Kotabe and Helsen (Chapter 8, included in course pack) Readings:
McKinsey Quarterly (2008), How Companies Act on Global Trends

Holt, D.B., Quelch, J.A., Taylor, E.L. (2004), "How global brands compete", Harvard Business Review, September Ahmed, Z., Johnson, J. P., Yang, X., Fatt, C., Teng, H., & Chee Boon, L. (2004). Does Country of Origin Matter for Low-Involvement Products? International Marketing Review, 21(1), 102120.
Learning Outcomes: 1. Understand the necessity for adaptation of product/brand strategies in global marketing 2. Understand the implications of culture on global marketing strategies 3. Understand the marketing orientated differences between emerging and developed markets
Food for thought (Do you agree or disagree ? and Why ?) 1. Experience effects induce firms to standardise products 2. The potential for experience effects differs widely across product categories

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MN 413 Course Unit Specification

MN 413 International Marketing: A Strategic Approach 2011-2012 Course Outline

MN 413 Course Unit Specification

Managerial Economics & Strategy

COURSE DESCRIPTION & OBJECTIVES

LEARNING AND TEACHING PROCESSES

MN 413 Course Unit Specification

LECTURE SCHEDULE (see also Lecture and Class Details)

MN 413 Course Unit Specification

* Case to be analysed will be distributed in Week 4

MN 413 Course Unit Specification

TEXT & READING MATERIAL1 The recommended textbook is:

MN 413 Course Unit Specification

CLASS PARTICIPATION PARTICIPATION

MN 413 Course Unit Specification

Public Relations Tactics

MN 413 Course Unit Specification

Lecture 2: Strategic Situation Analysis

MN 413 Course Unit Specification

Lecture 3: Consumer Motivation and Behaviour

Harvard Business Review, July-August

MN 413 Course Unit Specification

Lecture 4: How Marketers Think about Consumers

MN 413 Course Unit Specification

Lecture 5: Product Diffusion, Tipping Points and the Lifecycle

MN 413 Course Unit Specification

Lecture 6: Pricing Decisions for Marketers

MN 413 Course Unit Specification

Lecture 7: Branding & Integrated Marketing Communication

MN 413 Course Unit Specification

Lecture 8: Moving Beyond the Marketing Mix

MN 413 Course Unit Specification

Lecture 9: Global Marketing Strategy

McKinsey Quarterly (2008), How Companies Act on Global Trends

MN 413 Course Unit Specification

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