This course is aimed to understand the foundation of marketing to achieve value creation for customers. Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (AMA Marketing, 2013). To understand marketing management in depth, the course adopts a marketing simulation game. It is set to discuss analytical tools and strategic options as well as a variety of marketing tactical options and approaches.
Students are expected to understand the following topics, along with the marketing simulation game:
- Marketing Concept, Orientation and Strategy
- Marketing environment and planning process
- Marketing audit and analysis (consumers, competitors, company competence and macro environment)
- Marketing research and information system
- Segmentation, Targeting and Positioning (STP)
- Marketing mix design
- Marketing strategy implementation and control (via the marketing simulation game)
marketing, value creation, marketing simulation
|Specialist skills||✔ Intercultural skills||✔ Communication skills||✔ Critical thinking skills||✔ Practical and/or problem-solving skills|
In the class, students learn the major topics related to marketing. At the same time, students will conduct groupwork discussion to make a decision in marketing simulation game outside the class room everyweek. The knowledge earned in the class will contribute to the better decision making in the game. At the end of the lecture, students will take online quizzes as a take home exam. At the last lecture, each team of the game will make presentation to analyze their own and other team's decisions.
|Course schedule||Required learning|
|Class 1||Lecture: Marketing Concept, Orientation and Strategy||Key terms and concepts in the area of marketing; an overview of marketing planning process|
|Class 2||Lecture: Understanding Marketing Environment for Strategy Planning (Marketing Audit)||Marketing audit; analytical and decision tools for marketing plan and audit; macro- and micro environment; the roles and impacts of key players in the marketing environment.|
|Class 3||Lecture: Buying Behavior and Marketing Research||The decision-making process of buying and its influencing factors; purpose and key uses of marketing research for marketing planning; types of data; methods of marketing research|
|Class 4||Lecture: Segmentation, Targeting and Positioning||Bases of Segmentation; Approaches to Targeting and Positioning; Perceptual Mapping|
|Class 5||Lecture: Marketing Mix Design||Marketing Mix 4P (goods) and 7P (service)|
|Class 6||Lecture: Implementation of Marketing Strategy and Plan||Implementation, Monitoring and Control|
|Class 7||Wrap up, Presentation on simulation game decisions by each team||Summary and reflection|
To enhance effective learning, students are encouraged to spend approximately 100 minutes preparing for class and another 100 minutes reviewing class content afterwards (including assignments) for each class.
They should do so by referring to textbooks and other course material.
Jean-Claude Larréché and Hubert Gatignon (2020), Participant Handbooks: Strategic Marketing – Consumer Goods, Strat X Simulations.
To participate in this course, you are required a license fee for the simulation game. All the participants must register with the simulation platform and complete reading the participant handbook (approx. 65 pages prior to the start of the course. You will be informed further details on how to register with the game etc. via the LMS.
David Jobber, Fiona Ellis-Chadwick (2019), Principles and Practice of Marketing, London: McGraw-Hill Education.
The results of simulation game, Online quizzes, Group presentation (online). N.B. the evaluation methods is subject to change, depending on the number of participants.
No prerequisites are necessary, but enrollment in the related courses is desirable.