Applied Market Strategy / Applied Market Strategy

The Academic Board of Business Administration, Odense
Teaching activity id: 9265801.
Teaching language: English.ECTS / weighting: 10 ECTS / 0.167 full-time equivalent.
Examination language: English.
Exam activity id: 9265812, 9265802.Approved: 03-11-17.
Period: Spring 2018.
Grading: Internal grading.
Assessment: 7-point scale.
Offered in: Odense.
Subject director:
Associate Professor Nicole Franziska Richter, Department of Marketing & Management.

Prerequisites:
Familiarity with the basics in marketing and management, as for example outlined in Hollensen (2015): Marketing Management: A Relationship Approach, 3rd edition, Pearson.
Due to the teaching approach to contents, the course will have a maximum number of 30 students. In the case of more than 30 applicants (meeting the prerequisites), students will be allocated to the course by a simple first-come, first-served procedure.

Purpose:
The purpose of the course is to provide students with theoretical knowledge on the development of international market strategies and more importantly to enable students to apply the concepts involved in strategy development to a real-life-business case. It is the aim that students by facing the challenges of business leaders in medium-sized firms develop entrepreneurial competences. Students therefore acquire skills to analyze a firm’s strategic situation to identify strategic options and evaluate these options in terms of fit to the firm and market including financial considerations and to come up with a final recommendation on the improved (national and international) market strategy for the firm.

Content - Key areas:
The course will have a specific look at the following topics both from a national and international perspective. It involves the challenge to finally formulate a strategy building on all steps of analysis and meeting expectations and restrictions of the business case:
  • Decision-making building on strategic market and industry analysis
  • Defining business and analyzing what drives current success or failure
  • Segmenting the market, targeting appropriate customers and developing a successful positioning
  • Creating value through product and service strategies
  • Analyzing and improving marketing channel strategy
  • Analyzing and improving promotion strategy
  • Analyzing price models and profitability



Goals description (SOLO taxonomy):
After participating in the course, students are able to
  • describe and discuss the key concepts and approaches in market strategy including strategic analysis, positioning, product, pricing, promotion and placement
  • apply and reflect the management toolset used for practical challenges in strategic marketing
  • contrast and formulate appropriate market strategies
  • justify their concepts by means of financial figures
  • argue for their concepts or sell their concepts (in a pitch to a CEO or other decision-makers)

Literature:
Literature:
The basic contents are to be prepared during a phase of self-study prior to the course building mainly on a structured literature review of journal articles performed by the students.
Specific literature recommendations for preparation (including textbook chapters and/or journal articles on each of the key content areas) will be provided in the course plan uploaded to blackboard; yet, students are required to search for further literature (in particular journal articles and cases; further information will be provided during the introduction session).



Time of classes:
August (Summer School)

Scheduled classes:
A total of 30 contact hours distributed to an introduction of 3 hours and 5 lessons of 5-6 contact hours. For the students who cannot participate in person in the introduction, a skype introduction is offered on the same day (dates will be further specified). Furthermore, all information on self-study and preparation discussed will be provided in the course plan which will be uploaded in blackboard.

Form of instruction:
The course involves a phase of self-study and preparation, mainly reading the literature searched and given in the course plan, plus preparing a PowerPoint presentation as an introduction to one of the listed key content areas above (see under examination conditions).
There will be 30 hours of teaching in class including project work in groups, student presentations, and discussions. Students will take over the role of strategic marketing consultants developing and evaluating strategic options for a medium-sized producer of power tools currently struggling to keep up with former business success. Students will analyze the firm’s strategic situation. They will identify strategic options and evaluate these options in terms of fit to the firm and market(s) including financial considerations. They will come up with a final recommendation on the improved national and international market strategy for the firm.
Please note that the course will be intense and will consume much more time than the given contact hours also and especially during the weeks with contact hours (see workload below). For those who are not familiar with case teaching, please get an overview of the method, for instance, by watching the ‘core principles of case method teaching on youtube.

The total workload of the course is, on average, distributed as follows:
Self-study/preparation for the course: 120h  
Class teaching: 30h
Group work beyond classes and preparation of assignment: 120h
Total: 270h

Time of examination:
Exam: August.
Re-examination: September / early October.

The form for the re-exam can be changed by the study board. Such a change will be announced 14 days before the reexam takes place.

Registration for the course is automatically a registration for the ordinary examination in the course. Cancellation is not possible. If the student does not participate in the examination, the student will use one examination attempt.

Examination conditions:
Exam Acitvity no 9265812: To take part in the exam and re-exam, students need to have attended all lecture sessions. Moreover, to take part in the exam, students (in groups of 3-6 students) have to prepare and give a presentation of 20-30 minutes providing an overview of the key concepts in a specific strategic marketing topic to be handed in approximately one week before the course starts (specific deadlines will appear in the course plan). Moreover, students (in groups) have to present their market strategy in a 20 minutes pitch presentation during the last day of the course. Both presentations need to be passed to participate in the examination.

Students who fail to hand in and give these presentations will get an opportunity to hand in homework meeting the standard at a later date to be able to take part in the exam. This date will be announced in the course plan.

If the exam requirement is not met, the student cannot participate in the exam and one examination attempt has been used.
Participation in the re-examination requires that the exam requirement is met. There will be no specific feedback on the home assignment handed in for the reexam; the home assignment will be graded pass/fail.

Deviation from the number of students in a group and concerning the presentation and attendance in class may be granted by the teacher/supervisor provided there is a reasonable cause.

Form of examination for the certificate:
Take-home assignment.


Supplemental information for the form of examination:
Take-home assignment in the form of a PowerPoint (or alike) market strategy presentation written in groups of 3-6 students. The presentation needs to show for which elements each student has been responsible in order to ensure that each student is graded on his or her individual effort. Introduction and conclusion may be jointly prepared.


Duration: Date for submission will appear from the examination plan/course plan.
Location: Home assignment.
Internet Access: Necessary.
Hand out: Course page in Blackboard.
Hand in: Via SDU-assignment in the course page in Blackboard.
Extent: A strategic marketing report in the form of a presentation of 30 slides including headlines and management summary.
Exam Aids allowed: All exam aids allowed.

Programmes:
cand.merc. Brand Management and Marketing Communication
All Semesters, elective subject. Offered in: Odense
cand.merc. Marketing, Globalization and Communication
All Semesters, elective subject. Offered in: Odense
cand.merc. Communication Management and Leadership
All Semesters, elective subject. Offered in: Odense
cand.merc. Human Resource Management
All Semesters, elective subject. Offered in: Odense
cand.merc. International Business and Law
All Semesters, elective subject. Offered in: Odense
cand.merc. International Business and Management
All Semesters, elective subject. Offered in: Odense
cand.merc. Management of Innovation Processes
All Semesters, elective subject. Offered in: Odense
cand.merc. Strategy and Organization
All Semesters, elective subject. Offered in: Odense