Marketing I+II D, 20 points/30 ECTS Syllabus : Marketing I+II D Course code : FEKD44 Responsibility : Umeå School of Business Subject : Business Administration Level : D (Specialized) Course credit : 30 ECTS / 20 points Field of education: Social Sciences This is a course at the D-level in a Msc-degree at Umeå University. The course can also be included in study programs in Business Administration and Economics at Umeå School of Business. 1. Resolution to arrange the course The course was established by the Faculty of Social Sciences at Umeå University in December 2002. The syllabus was confirmed by the Board of Umeå School of Business on May 29, 2006. The syllabus is valid from August 28, 2006 2. Objective and contents Today’s companies face a rapidly changing environment, competition, and consumer demand. Consumers’ attitudes, perceptions, and preferences must be taken into consideration when developing and introducing new products into the market. Because of the nature of today’s market, the performance of existing products also needs to be closely monitored. Marketing managers must understand new market trends, demographic and social changes, technological advancements, and other global developments when they formulate marketing strategies for their products and services. Module 1. Consumer Behavior (5 points/7,5 ECTS) In order to attain commercial success, it is vital for managers to understand consumer behavior, for it can ease the development of efficient marketing strategies. The purpose of the course is to provide the student with an understanding of the consumer. A particular aim of the course is to provide knowledge and training in the analysis of various marketing situations and in the development of various marketing strategies. The objectives of this course are that the student will develop: knowledge in theoretical frameworks for consumer behavior, skills in analyzing consumer behavior, skills in analyzing and implementing different marketing strategies to reach marketing objectives, and an understanding of the role of consumption in society. Marketing begins and ends with the consumer. The consumer's needs and wants suggest the products that should be produced and marketed by a company. The consumer's buying decisions indicate how well the company’s products fulfill those needs and wants. Knowledge of the buying patterns of the consumer or consumer segments is essential for the marketing function in a company. This module therefore emphasizes theoretical models for the analysis of consumer behavior. Especially important is the relationship between consumer behavior and marketing strategies. In order to be effective, strategic decisions in a company must be based on knowledge of consumer behavior. Teaching methods: See below 4. Examination methods: See below 5. Module 2. Consumer Analysis (5 points/7,5 ECTS) The objectives of this course are to provide the student with: training in defining marketing problems, knowledge about the need for market information and ways to structure internal and external information in a market information system (MIS), the ability to critically evaluate various research methods that can be used to handle marketing problems, and knowledge about various statistical techniques for collecting, analyzing, and reporting market information. In this course information about existing and potential markets is seen as a key issue in business management. The need of information differs between different situations. Therefore skills in defining marketing problems and the need of information connected to those problems are crucial for decision makers. To handle the need of market information this course stress on systematic methods for collecting, analyzing, and reporting market information. The course concentrates on statistical marketing research methods. The entire research process is covered: research design, sampling, data collecting techniques, data analysis, and reporting. Special attention is given to the connection between various marketing problems and the process of designing studies to yield the relevant information. The course is structured like a research process. The content is delivered through lectures and students must complete a project assignment in which they define a problem, design suitable research, and present their work. Teaching methods: See below 4. Examination methods: See below 5. Module 3. Advanced Market Analysis (5 points/7,5 ECTS) This course is designed to explore different techniques and tools used in processing qualitative and quantitative data that have been systematically gathered through environmental assessments and consumer behavior studies. The various analytical approaches examined in this course will be used to develop and manage an overall corporate information system. Collection, storage, and utilization of data generated by scanner devices will also be explored. This course builds upon previous courses. The objective of this module is to develop a fundamental understanding of the quantitative and qualitative techniques and tools used in examining and analyzing data and information gathered through environmental assessment and consumer studies. Special attention will be paid to analysis of data generated by scanner devices. The outcome of these analyses will be presented in the form of executive briefings, customized reports, or models such as market simulations. The material presented in this course will be in the context of an overall information system used by management to make strategic or operational decisions. The students registered in this course will have the necessary background to understand how data are collected using quantitative and qualitative methods. The focus of this course is on a fundamental understanding of the techniques and tools of data analysis in the context of information systems and the presentation of the results of such analyses. The course will be typically divided into three parts. Part One will examine the techniques and tools of analysis and data interpretation leading to information generation and presentation. Various analytical techniques and tools will be examined, such as case analysis, scenario planning, the formulation of basic questions, and the examination of statistically significant differences among data using univariate and multivariate statistical techniques. Part Two will focus on the development and management of the overall information system within a firm as a basis for corporate marketing strategy and operations. The objective is to formulate the information system that individual decision makers within a firm require in order to make effective and efficient marketing decisions. The typical reports generated for individual decision makers will also be discussed. Part Three will focus on the gathering, storing, and processing of data generated by scanner systems. The concepts of data storage in silos, warehouses, and boutiques will be investigated, followed by an examination of appropriate computer-based data-mining methods. The role of computer-based simulations in data and information management will also be considered in this part of the course. Teaching methods: See below 4. Examination methods: See below 5. Module 4. Executive Decision Making (5 credits/7,5 ECTS) In order that it make valid predictions, market analysis requires an assessment of information, rather than a mere presentation of the situation at the time of a study. This course will examine specific issues concerning such managerial decision-making tools as scenario planning, the making of a prognosis, and other tools that help in today’s decision-making process. The objective of this course is to closely examine the representative marketing decision-making process in a contemporary corporate setting. More specifically, it provides marketing decision makers with the appropriate information to make competitive decisions in the market. Attention will be given to generation of information and management reports from corporate information systems utilizing modern data management techniques supported by scanner devices throughout the entire value chain. Students in this course should acquire the ability to collect and analyze data and information obtained from environmental analysis and consumer research. In addition, the students will be given the necessary skills to provide appropriate information to allow marketing decision makers to formulate competitive marketing decisions. The focus of this course is to examine the decision-making process in the context of some of the more advanced decision-making tools. The course will be divided into two parts. Part One will focus on management decision-making process and on contemporary approaches such as forecasting, scenario planning, decision modeling, and the simulation of a variety of situations. This part will also include an examination of different types of marketing decision making on both the strategic and operational levels of management. Part Two will examine marketing management decision making from an applied perspective. Management experiences in decision making will be discussed and evaluated through the use of teaching cases. Sufficient opportunity will be provided for each student to make marketing management decisions relating to a variety of issues based on unique data and information needs. This approach will provide students with the opportunity to examine decision making from a marketing executive perspective. Teaching methods: See below 4. Examination methods: See below 5. 3. Prerequisites Courses in Business Administration (90 ECTS) A minimum of 40 points/60 ECTS from A-level and B-level courses (Management, Accounting, Financial Investments, Cost Accounting, Marketing) At the advanced, C level, a minimum of 20 points/30 ECTS, including a Bachelor’s thesis or equivalent Statistics or similar (10 points/15 ECTS credits) 4. Teaching methods Modules 1-4, will consist of lectures, discussion, seminars, case discussions, and seminars. Guest lecturers may be invited to highlight some of the contemporary practices that marketing managers use today and to illustrate how these approaches lead to more competitive market positions. With the use of teaching cases, students will have opportunities to participate in decision making and in structuring the necessary information - internal and external to the company - as the foundation for decisions. Seminars will be used to discuss the various decision-making styles and to illustrate how these styles differ as a function of level of marketing management. The students are expected to read the assigned material and actively participate in case discussions. 5. Examination For the four Modules attendance at lectures, seminars, and study visits are required and a written project report must be submitted. A written examination and a project report will be graded according to the following system: Pass with distinction (Väl godkänd, Vg, 75% or more), Pass (Godkänd, G, 50% or more) and Fail (Underkänd, U, less than 50%). To receive the grade Pass with distinction (Väl godkänd) on the course, the student must have achieved that grade at three of the four modules. Students who do not pass at the time of the normal written examination will be offered an opportunity to sit a further examination within 2-3 weeks. Beyond that, additional examination opportunities normally arise every academic year one-week prior to the start of the autumn term. When a student has failed an examination on two occations, he or she has a right to have another grading teacher. A written request should be handed to the director of studies no later than two weeks before the next examination opportunity. Grades on the course are awarded when students have passed all examinations and compulsory course elements. 6. Utilisation et cetera In cases where there are applicants from exchange programs or similar, the course language will be English. Otherwise, parts of the course may be taught in English. Information on language aspects can be obtained from the Student Counsellor. Other Regulations Acknowledgment/Plagiarism: Plagiarism is not acceptable and may result in the imposition of severe penalties. The University provides clear guidelines on its attitude towards plagiarism and how to avoid unintentional plagiarism. Students are advised to read these carefully. If any doubts remain as to what constitutes plagiarism, students should discuss the matter with the lecturer(s). Study Time: Students are expected to prepare a significant amount of material outside of the classroom in order to fulfil course requirements. Previous indications suggest that students should treat this subject as full time work and invest a minimum of forty hours in preparation and attendance. 7. Readings and other materials Module 1. Consumer Behavior (5 points/7,5 ECTS) Solomon Michael., Consumer Behaviour : buying, having and being. 7th ed. Prentice Hall 2006. Umeå School of Business, Articles. Studentexpeditionen. Reference readings Kotler, P., Keller ,K., Marketing Management. Upper Saddle River, NJ. Prentice Hall, latest edition Module 2. Consumer Analysis (5 points/7,5 ECTS) Churchill, Gilbert A., Iacobucci, Dawn. Marketing Research - Methodological Foundations, 9th Edition. Thomson Learning 2005 Umeå School of Business, Articles and Cases. Module 3. Advanced Market Analysis (5 points/7,5 ECTS) Churchill, Gilbert A., Iacobucci, Dawn. Marketing Research - Methodological Foundations, 9th Edition. Thomson Learning 2005 Larréché, Jean-Claude, Gatignon, Hubert, Triolet, Rémi. Markstrat Online Student Handbook. StratX International (available from Umeå School of Business, Student Office) Laudon, Kenneth C., Laudon, Jane P. Management Information Systems: Managing the Digital Firm, 9th Ed. Prentice Hall 2006 Umeå School of Business, Articles and Cases. Module 4. Executive Decision Making (5 credits/7,5 ECTS) Cravens & Piercy: Strategic Marketing, 8th Ed. 2005 McGraw-Hill Irwin. James G. March: “A primer on decision making”, The Free Press 1994. Umeå School of Business, Articles and Cases Reference readings: Max H. Bazerman: “Judgment in managerial decision making”, 5th ed. Wiley International Edition, 2002 --------------- Umeå University, Umeå School of Business, SE-901 87 Umeå, Sweden.