Sales, Marketing and Business Development

INSTITUTE OF MANAGEMENT TECHNOLOGY

GHAZIABAD

Track: Sales, Marketing and Business Development

Course Outlines

(2015 - 2016)

Term wise List of Courses:

# Course Term

1 Consumer Behaviour V

2 Integrated Marketing Communication V

3 International Marketing V

4 Marketing Strategy for Competitive Advantage V

5 Marketing Analytics * IV & V

6 Product Policy and Management V

7 Sales Management V

8 Strategic Brand Management V

9 Marketing in Rural India VI

10 Business to Business Marketing VI

11 Communicating Corporate Reputation VI

12 Customer Relationship Management VI

13 Digital Marketing VI

14 Game Theory Applications in Marketing VI

15 Marketing of Services VI

16 Retail Management VI

17 Pricing for Value VII

18 Marketing Channel Management VII

Consumer Behavior

PGDM, Term V

Introduction:

The study of consumer behavior enables marketers to understand and predict consumer behavior in

the marketplace; it is concerned not only with what consumers buy but also with why, when, where,

and how they buy it. Consumer behavior course has broadly its focus on the end-user for personal or

family, non-business purposes. The primary objective of this course is to give a basic understanding

of human behavior as it relates to consumer acquisition In order to accomplish this objective; the

course is cross-functional in its approach, drawing on other disciplines such as sociology, social

psychology, psychology, and economics, among others. This course focuses on purchasing and

human decision-making processes and influences on that process. Students will learn about

motivation, attitude, decision-making processes, reference group influences, information processing,

and many other concepts. However, the study of these concepts will be oriented ultimately toward

developing a working knowledge of marketplace behavior in order to produce actionable marketing

strategies and tactics for both profit and non-profit firms.

Course relevance:

It is impractical to develop effective marketplace strategy without understanding target market(s) and

influences upon them. Therefore, a working knowledge of marketplace, customer, and consumer

behavior is essential to marketing education. All customers are human beings and subject to all

possible influences that might exist on human decision-making and action. Thus, this course focuses

mainly on processes of and influences around human decision-making in a consumer behavior

context but the concepts and learnings of this course are relevant to organizational buying too.

Student Learning Outcome

Upon successful completion of this course, students should be able to:

Explain and apply the key terms, definitions, and concepts used in the study of consumer behaviour.

Demonstrate how as a marketer you can use your knowledge of consumer behaviour concepts to develop better marketing programmes and strategies to influence those behaviours.

Critically evaluate the effectiveness of various advertisement and promotions and their attempts to influence the behaviours of individuals.

Analyze the trends in consumer behaviour, and apply them to the marketing of an actual product or service.

COURSE REQUIREMENTS

Students must come prepared to the class by going through the materials specified against each topic

prior to the session on that topic.

Case Studies: The assigned cases are intended to give the students a practice in assembling

data to support a decision. Further, the case method provides a vehicle by which to apply the

theories, concepts and analytical devices that we cover over time.

Finally, the discussion forum provides an opportunity to argue ones position and to learn

from others by listening to their comments and criticisms.

Project: Each student-group will be required to prepare and submit a project report on the

assigned topic. They will also make a presentation on their project work.

Class Participation: Each student is expected to be present in every session and contribute to class

discussion.

PEDAGOGY

The course employs a balanced mix of lectures/class discussions and case studies/projects.

Lectures to introduce the concepts Interactive discussions to understand the practical aspects through real life examples & cases

as the topics are introduced

Group assignments to participants on various selected topics/cases for better appreciation and understanding of concepts introduced through study, analysis and their observations to made

in the form of professional reports and presentation to the entire Theory class & interaction

for benefit of the entire Theory class.

Assessment method in alignment with learning outcomes

Students will be evaluated on the basis of case analysis, team project, quizzes, class participation,

and end-term exam. Weightage given to each of these units is listed below:

Class Participation 10%

Group Project Submission 20%

Group Presentation 10%

Quizzes 20%

End Term Exam 40%

Specific Assessment Method Weightage Intended subject

learning outcome to be

assessed

Group Assessment Methods


Group Project Presentation 10%

Individual Assessment Methods


Quiz 20%

End-term Exam 40%

Text book

Consumer Behavior : Schiffman, Kanuk & Ramesh Kumar; Published by Pearson Education (India

Edition), New Delhi

Recommended Reading:

Consumer Behaviour (10th Edition) : Blackwell, Miniard & Engel; Published by Cenage (India Edition), New Delhi Consumer Behavior (fourth Edition): Loudon & Della Bitta; Published by Tata McGraw-Hill Publishing Company Limited, New Delhi Shopper, Buyer and Consumer Behavior (Second Edition): Lindquist & Sirgy; Published by Biztantra Fortune at the Bottom of the Pyramid C.K. Prahalad We are Like that Only Rama Bijapurkar

Journals for Reference

Journal of Consumer Research Journal of Consumer Marketing Journal of Consumer Behavior Journal of Consumer Psychology International Journal of Consumer Studies Journal of Customer Behavior

Session Plan The course shall be covered in 16 sessions. Session-wise details are as follows:

Session 1

Consumer Behavior nature, scope and applications

Chapter 1 of the text-book

Learning objectives:

1. To Understand What Consumer Behavior Is and the Different Types of Consumers.

2. To Understand the Relationship Between Consumer Behavior and the Marketing Concept, the

Societal Marketing Concept

3. To Understand the Relationship Between Consumer Behavior and Customer Value,

Satisfaction, Trust, and Retention.

4. To Understand How New Technologies Are Enabling Marketers to Better Satisfy the Needs

and Wants of Consumers.

Session 2

Consumer Research


Learning objectives:

1. To Understand the Importance of Consumer Research for Firms and Their Brands, as Well as

Consumers.

2. To Understand the Steps in the Consumer Research Process.

3. To Understand the Purposes and Types of Secondary Consumer Research

4. To Understand How Each Element of the Consumer Research Process Adds to the Overall

Outcome of the Research Study.

Case study- Future Shop

Session 3

Consumer motivation


Learning Objectives

1. To Understand the Types of Human Needs and Motives and the Meaning of Goals.

2. To Understand the Dynamics of Motivation, Arousal of Needs, Setting of Goals, and

Interrelationship Between Needs and Goals.

3. To Learn About Several Systems of Needs Developed by Researchers.

4. To Understand How Human Motives Are Studied and Measured.

Session 4

Target market selection and pricing

Case study: Virgin Mobile USA: Pricing for the Very First Time

Session 5

Consumer Perception


Learning objectives

1. To Understand the Sensory Dynamics of Perception.

2. To Learn About the Three Elements of Perception.

3. To Understand the Components of Consumer Imagery and Their Strategic Applications.

Session 6

Case study: LOreal of Paris Bringing Class to Mass with Plenitude

Session 7

Consumer Learning


Learning objectives

1. To Understand the Process and Four Elements of Consumer Learning.

2. To Study Behavioral Learning and Understand Its Applications to Consumption Behavior.

3. To Study Information Processing and Cognitive Learning and Understand Their Strategic

Applications to Consumer Behavior.

4. To Understand How Consumer Learning and Its Results Are Measured.

Session 8 and 9

Attitude and Consumer Behaviour


Learning objectives

1. To Understand What Attitudes Are, How They Are Learned, as Well as Their Nature and

Characteristics.

2. To Understand the Composition and Scope of Selected Models of Attitudes.

3. To Understand How Experience Leads to the Initial Formation of Consumption-Related

Attitudes.

4. To Understand the Various Ways in Which Consumers Attitudes Are Changed.

5. To Understand How Consumers Attitudes Can Lead to Behavior and How Behavior Can

Lead to Attitudes.

Case study : Super shampoo product and the Indian mass market

Session 10 and 11

Personality, Self-concept and Consumer Behaviour


Learning objectives

1. To Understand How Personality Reflects Consumers Inner Differences.

2. To Understand How Freudian, Neo-Freudian, and Trait Theories Each Explain the Influence

of Personality on Consumers Attitudes and Behavior.

3. To Understand How Personality Reflects Consumers Responses to Product and Marketing

Messages.

4. To Understand How the Products and Services That Consumers Use Enhance Their Self-

Images.

5. To Understand How Consumers Can Create Online Identities Reflecting a Particular Set of

Personality Traits.

Session 12

Group influences and Consumer Behaviour - Social class, Reference Groups and Family Influences


1. To Understand the Changing Nature of Families in India, Including Their Composition and

Spending Patterns.

2. To Understand the Socialization Process and Other Roles of the Family.

3. To Understand the Dynamics of Husband-Wife Decision Making, as Well as the Influence of

Children in Family Consumption Decision Making.

4. To Understand How Traditional and Nontraditional Family Life Cycles Impact Consumer

Behavior.

5. To Understand What Social Class Is and How It Relates to Consumer Behavior.

Case study: Clust.com: Dream more and pay less

Session 13

Influence of Culture, sub-culture and cross-culture on Consumer Behaviour

Chapter 11 & 12 of the text-book

Learning objectives

1. To Understand What Culture Is and How It Impacts Consumer Behaviors.

2. To Understand How Culture Acts as an Invisible Hand That Guides Consumption-Related

Attitudes, Values, and Behavior.

3. To Understand How Culture Sets Standards for What Satisfies Consumers Needs.

4. To Understand How Culture Is Learned and Expressed in Language, Symbols, and Rituals.

5. To Understand What Subculture Is, and Its Relationship to Culture.

6. To Understand Geographic and Regional Residences as Sub-cultural Influences on

Consumer Behavior.

Session 14

Consumer Decision Making in different situations

Case study: Aqualisa quartz.: simply a better shower

Session 15 and 16 Group presentations

Marketing Strategy for Competitive Advantage

Pre-requisite: Marketing Strategy & Organization/ Marketing Program Design

Relevance to the Program:

This module designed as an elective is an experiential learning exercise of a simulated competitive marketing strategy platform. It is designed on the premise that the marketing students must not only acquire a knowledge of the fundamental principles of sound marketing practice, but also realize the implications of having to integrate and apply those principles in a highly complex, dynamic and competitive environment. A set of manufacturing firms in an industry would be created with student teams acting as each firms marketing department, and would take multi-dimensional decisions with an objective of maximizing net contribution to profits.

Subject Learning Outcomes:

The course administration aims at enhancing the understanding of:

Concepts and matrices required for managerial decision making with respect to marketing mix elements to increase the contribution margins from the offerings

Product Portfolio Management Analytical and qualitative tools to assess alternatives amidst external and internal information

pertaining to market, competition and customer

Pedagogy:

This course will have two major pedagogical approaches: (1) Class discussions and (2) Simulation

Readings:

Larrch, Jean-Claude, Hubert Gatignon, and Rmi Tirolet (2010), Markstrat by StratX: Participant Handbook, Woburn, MA: StratX. (Provided by StratX upon registration, at www.markstrat.com)

Borden, Neil H. (1964), The Concept of the Marketing Mix, Journal of Advertising Research, 4(2), 361-369.

Kotler, Philip and Gary Armstrong (2008), Segmentation, Targeting and Positioning: Building the right Relationships with the Right Customers, In Principles of Marketing, 11e, Upper Saddle River, NJ: Pearson Prentice Hall, 192-229.

Session Plan (Indicative): 16 Sessions of 75 min. each

Session No.

Topic of Discussion

1 & 2 Course Introduction- MARKSTRAT Introduction #1

3 MARKSTRAT Decision 1 due

4 MARKSTRAT Introduction #2

5 & 6 Market Segmentation, Positioning



9 Midterm MARKSTRAT meetings






15 & 16 MARKSTRAT Team Presentations

Assessment Method:

Method Weightage

End Term Exam 40%

MARKSTRAT Annual Reports 15%

MARKSTRAT Team Presentations (Mid & Final) 35%

Financial Performance 10%

Assessment Method and Rubric Match:

Assessment Method

1.1

Demonstrate technical and analytical capabilities

1.2

Demonstrate effective communication skills

1.3

Demonstrate inter-personal skills in diverse business environment.

3.1

Critically analyze situations to suggest innovative future growth opportunities

3.2

Demonstrate techno-savvy capabilities to manage integrated environments

End Term Exam

MARKSTRAT Annual Reports

MARKSTRAT Team Presentations (Mid & Final)

Financial Performance

Marketing Analytics

Background

In todays markets, the big story is BIG DATA. Technological advances (e.g., web, communications, and devices) are expanding customer-to-firm and consumer-to-consumer contact points, and enabling capture of rich and diverse transaction data at nearly every contact. Marketing data stocks are exploding at a rate that defies Moores law (double every two years). Yet, on their own, big data do not reveal big insights. Insights from big data require smart analytics. Unfortunately, data stocks are increasing at a rate that is not matched by our capacity for smart analysis and deep insights. The marketing analytics course is integrates theory (e.g., analytical concepts) and practice (e.g., real life data based problems) with focus on skills for smart analytics.

Objectives

Developing skills for analysing marketing data for making intelligent decisions about marketing investments that create value and build competitive advantage.

Build capabilities for marketing analytics. This course is not about memorizing or programming, but about concept and tools for understanding marketing data, and analysing it for insights.

Approach

The course will blend theoretical concepts with practical problems to provide a broad analytics base for skill building. The course will also focus on developing tools for tackling marketing problems and on writing syntax for those tools.

Every course day will involve

1. Classroom Seminar 9.00AM to 11.30am

2. Lab/Tutorial Session 11.30am to 12.30pm

Course Prerequisites and Requirements

The course is intensely quantitative and students will be expected to (a) thoroughly understand their Business Statistics curriculum and (b) be proficient in MS Excel. Many of these concepts will be used right from the beginning of the course and students ill-prepared will fall behind.

SPSS will be used as the primary statistical tool, with emphasis on SPSS syntax. Class expectations include (a) being prepared for each class by reading designated material and reviewing appropriate analytic tools in advance, (b) submitting evidence-based reports that demonstrate application of specific analytical tools to given marketing problems, and (c) making class presentations that build skills for analytics based reasoning with emphasis on data visualization and evidence based insights for marketing decisions.

Students will be provided readings for the forthcoming class, with the expectation that they will complete those readings before coming in for class. The purpose is to have better and more engaging

class room discussions. It will be clear during class if a student has not come prepared and participation points will be deducted from him or her. During the lab/tutorial session, students will start work on their homework assignment for the next class.

Evaluation

Components of evaluation are very crucial pertaining to the overall learning outcome of the course. There will be two exams and six assignments for the course. These components will be weighted as follows:

Components of Evaluation Date Weightage of Marks (in percentage)

Class Participation To be monitored for all sessions

5

Mid-Term 20th January 15

Assignments 6 Assignments 50

Final 3rd March 30

Total 100

Note: No evaluation will be repeated. Missing an assignment deadline or a test will lead to the student being awarded zero points for that evaluation.

Grading Notes: Class Participation and Attendance. The following aspects will be considered in evaluating students grade: a. Preparedness and Attendance. Regular attendance and diligent preparation for the class is

indicative of student commitment to participate in a learning environment. b. Active Engagement. Active participation in the class with thoughtful questions, sharing

alternative perspectives, and responding critically to class discussion *Bonus Points for Presentation. You will earn bonus points if your assignment is selected for presentation to the class. To earn bonus points, the students must earn 8/10 or higher on their presentation. No bonus points would be earned for a presentation that earns less than this cutoff. Submission Requirements and Guidelines.

Typically, submission-feedback-rework will work as follows:

1. Assignments should be submitted in a powerpoint format, address all requirements of the assigned problem, and generally up to 20-25 slides of material. Text may be bulleted but must be complete with details to be understood precisely. Be concise. Additional notes may be included to explain your work. The presentation will have an Appendix section which will provide the supporting evidence, analysis and the syntax.

2. Assignments need to be prepared to be at par, in quality and content, with presentations to global clients. This is important. Poorly prepared, organized, or proofed presentations will be severely penalized as inadequate work.

3. An initial report for each assignment must be submitted by Thursday, 9am on the week of the assignment. Failure to submit a draft will result in a 15% penalty on the corresponding assignment grade.

4. Feedback on your draft submission will be provided in the Friday class to address common questions and errors. Students are encouraged to bring questions, concerns and problems they encountered in developing their initial report to the class for discussion.

5. Final assignments will be due on Sunday by midnight. No extensions permitted (see Late Submissions below).

6. Feedback on the final draft of your assignment will be provided usually before Tuesday class.

7. Based on the quality and creativity of your submission, the instructor may ask you to make a presentation based on your assignment in the Tuesday class with the following guidelines:

a. 10-15 minute presentation

b. Focus on points highlighted in the feedback. Revise and sharpen your presentation accordingly.

c. Polished and professional presentation. Assume you are presenting to a client.

Late Submissions: Late submission will result in a 1-point penalty (out of 10). That penalty is one point for each day (or part thereof) that the submission is late. If a submission must be late due to circumstances beyond your control, contact the instructor. At his discretion and based on his assessment of the actual degree of uncontrollability of the situation, he may permit a special arrangement. The most typical special arrangement is for students who must miss class due to extreme circumstances. They are often permitted to submit the assignment early. It is extremely rare for the instructor to permit an extension of the due date.

Redos: Students are encouraged to go back to fix problems identified on their graded assignments as this ensures that students complete the learning loop. In some instances, a redo may earn you a portion of the original points, but often it may not. Redos that show students effort in addressing the problem on their own, the nature of the problem and timely submission are all factors that go into this decision. Additional points for redos are at the instructors discretion. The extra credit will be upto 1 point maximum (10% of grade) and usually lower. Redos are intended to promote learning and not as opportunities for making up the grade.

Changes: The instructor reserves the right to make changes to any aspect of syllabus that, to his judgment, are needed to achieve the learning objectives of the course.

Required Text Book

Hair, J. F., Jr., Black, W. C., Babin, B. J., & Anderson, R. E. 2010. Multivariate data analysis (7th ed.). Pearson Education. (referred as HBBA) Prepping for the Course

Understanding of basic statistics (as usually covered in the core statistics course) is a pre-requisite. A good work ethic, and a positive learning attitude are keys to strong course performance.

Some prepping suggestions:

1. Review material covered in a first-level garduate statistics course. Online materials are available, usually free, for this purpose (e.g., http://davidmlane.com/hyperstat/; http://onlinestatbook.com/2/index.html).

2. Familiarize yourself with the SPSS statistical software. SPSS has a useful tutorial (under the Help tab in the main data screen). Many online resources are available (http://www.hmdc.harvard.edu/projects/SPSS_Tutorial/spsstut.shtml, http://www.ats.ucla.edu/stat/spss/modules/default.htm), and you can download a free guidebook by visiting http://www.spsstools.net/ (use the link under purposes).

Session Plan

Academic Integrity

All students in this course are expected to adhere to IMTs standards of academic integrity.

Date TOPIC/Instructor STATISTICAL & SPSS (EXCEL) PROCEDURES READING

Jan 6-9 Data Mining & Dimension Analytics Dipyaman Sanyal

CROSSTABS, CHISQUARE, ASSOCIATION, RISK & FACTOR ANALYSIS

HBBA: Chapter 3

Jan 13-16 Predictive Analytics Bikramjit Rishi

LINEAR AND POLYNOMIAL REGRESSION, INTERACTION EFFECTS, MULTI-GROUP REGRESSION

HBBA: Chapter 4

20-Jan Mid term Exam

23-Jan Genpact Visit/Interactive Analytics Jagdip Singh

BIG DATA; WEB-SITE & WEB-ADVERTISING ANALYTICS, ATTRIBUTION MODELING

Jan 27-30 Conjoint Analytics Tripti Sharma

PART WORTH UTILITIES, MULTIATTRIBUTE MODELING

HBBA: Chapter 8

Feb 3-6 Positioning Analytics Rakesh Singh MULTIDIMENSIONAL SCALING HBBA: Chapter 10

Feb 9-17 Mixture Analytics: CA Harvinder Singh

HIERARCHICAL CLUSTER ANALYSIS, K-MEANS CLUSTER, DISCRIMINANT

HBBA: Chapter 9

Cheating, plagiarism, and other forms of academic dishonesty will not be tolerated in this course. This includes, but is not limited to, consulting with another person during an exam, turning in written work that was prepared by someone other than you, and making minor modifications to the work of someone else and turning it in as your own. Unless properly referenced or quoted, submitted work is assumed to be original contribution of the student.

Ignorance will not be permitted as an excuse. If you are not sure whether something you plan to submit would be considered either cheating or plagiarism, it is your responsibility to ask for clarification.

All submitted material will be run through anti-plagiarism software by the APOs office. A high level of plagiarism detected by the software will lead to a failing grade in the course.

Course Title Pricing for Value

Course Description:

Pricing counter-weighs rest of the three Ps in the sense that it is the only function that extracts value generated by other Ps collectively. Pricing is more of a strategic decision than tactical, and is expected to be practiced at middle to senior management level. This very fact makes Pricing course desirable for participants, who are going to assume advanced roles in corporate world.

The course is relevant to the PGDM because:

in todays dramatically more complex and rapidly changing environment of globalized economies, unlimited consumer choice and explosive technology innovation, pricing strategies and tactics are essential determinants of the competitive position, success and profitability of an organization. Therefore, smart pricing is not a choice an organization has, it is the must function for a firms that operate in a regulated and price controlled environment.

a systematic body of knowledge (that is captured in the present course) shall help students in performing this function with success.

Learning Objectives:

The goal of this course is to make students to

arrive at pricing decisions with an informed and structured approach

be able to improve profitability with price structures thus arrived at

Upon completion of the subject, students will be able to:

(a) Demonstrate technical and analytical capabilities (objective #1.1)

(b) Critically analyze situations to suggest innovative future growth opportunities (objective #3.1)

(c) Demonstrate techno-savvy capabilities to manage integrated environments (outcome #3.2)

Pedagogy:

The course shall rely upon, apart from the required text above, the practical insights on industry trends in pricing, in-class exercises/discussions, case analyses, assignments and project at the end of the course. Total 16 sessions of 1 hr 15 minutes each would be conducted. Students are encouraged to interact with the faculty during the entire duration of course delivery and particularly during analyzing situations.

Course Requirements:

i. Students are expected to come prepared for each session. Preparation for class includes having read the assigned case and other reading material

ii. Class participation marks shall be on the basis of quality of observations and discussions.

Evaluation

Individual Project- 40%

Assignments: 10%

Class participation 10%

End Term 40%

Assessment method in alignment with learning outcomes:

Specific Assessment Method Weightage Learning Outcomes

a (#1.1) b (#3.1) c (#3.2)

Project 40%

Assignment 10%


End-term Exam 40%

Group Project and Assignment

Each group shall consist of two students and they are expected to submit an assignment and a project. Late submissions will not be accepted.

Recommended Text Book

The Strategy and Tactics of Pricing: A Guide to Move More Profitable, by Thomas T Nagle, John Hogan and Joseph Zale. Pearson Education. 5th Edition.

Course Outline: Session/Module/Reading Material

Sessions 1: Strategic Pricing

Learning Outcomes:

Understand problems with existing pricing methods

Realize the fundamental principles that guide strategic pricing

Sessions 1 (75 minutes)

20 minutes 35 minutes 20 minutes

Balanced price decision making versus unbalanced price decision

3 great philosophies that have dominated price decision-making for the past century: Cost-Driven, Customer Driven, Competition Driven

Strategic versus Tactical Pricing requires reframing how you think about pricing the questions you ask, the objectives you set for pricing, the players you involve, and the process you follow

Sessions 2: Pricing Strategy- An Integrated Strategy

Learning Outcomes:

Realizing Pricing as an integrated strategy



The Strategic Pricing Pyramid many think the solution to a pricing problem is to adjust price, but price is actually just the most visible tip of the pyramid that includes a large substructure of functions, policies, rules, and procedures that must be invested in, built, and managed to properly support price

Strategic pricing requires organizational change based on incentives, expectations, and pricing knowledge and skills of those involved in pricing

Conclude with a caselet

Sessions 3: Value Creation and Estimation

Learning Outcomes:

Understand economic value

Understand value based market segmentation



Concept of value actual versus perceived and the structure of economic value

Areas of importance include communicating to the students how to estimate economic value the steps, value drivers (cost drivers, revenue drivers), and value calculations

Value segmentation is superior to other segmentation methods

Sessions 4: Price Structure

Learning Outcomes:

Realize the importance of metrics and the difficulty of performance based pricing and the need to create good metrics

Learn how to segment based on pricing fences



The essence of price structure is segmentation pricing creating a menu that sets different prices for different customer segments

Segmentation pricing draws on theory of price discrimination setting different prices to tap different points on a demand curve captures more consumer surplus and increases profitability. It can be implemented using Fences


Sessions 5: Value and Price Communications

Learning Outcomes:

Appreciate the importance of knowing the customers relative cost of search and type of benefits sought

Know the 4 generic value communication strategies, when to implement each, and how to design value communication content effectively



Value is not the same thing as willingness to pay

Value communication is more important in some product categories than others

Conclude with examples

Sessions 6: The Pricing Process

Learning Outcomes:

Learn how to organize for policy based pricing

Know how to diagnose and manage strategic pricing policy



To articulate the importance of, and how to do, policy driven pricing

Effective policy driven pricing requires direction from senior management, sales force buy-in, and a process approach that changes behaviors over time by prioritizing, sequencing, transitioning, monitoring, and measuring


Sessions 7: Price Setting

Learning Outcomes:

To comprehend the steps in price optimizations

To learn the types of assessment options



A key driver of price setting is the Differential Value Capture Rate, based on an assessment of factors such as the life cycle of the product, and the price sensitivity of buyers.

Price optimization is an iterative process of fine-tuning the price based on customer response to the price


Sessions 8: The Role of Costs

Learning Outcomes:

Recognize how to identify relevant costs and the concepts of incremental and avoidable costs Learn the shortfalls of conventional finance accounting and more accurate managerial costing

methods for pricing Comprehend contribution margin and understand how to calculate it and its strategic

implications



Which costs are relevant to pricing

Financial managers rely on traditional P&L statements to measure financial performance, which is fine. But pricing is forward looking, not historical looking.

Conclude with two caselets

Sessions 9: Financial Analysis to Support Pricing Decisions

Learning Outcomes:

Explore breakeven analysis and changes in variable cost and incremental fixed costs



The key to assessing pricing profitability is to understand when a price change becomes unprofitable or profitable that is the change in volume required for profitability. The calculation to do this is the Breakeven Sales Change

Calculating Breakeven sales change

Use two caselets to substantiate the concept

Sessions 10: Managing Price Competition

Learning Outcomes:

Know how to analyze a competitive situation and formulate a pricing response

Learn how to collect, analyze and communicate competitive information

Realize when you might want to compete on price



Pricing is a powerful tool that competitors use to achieve short terms wins and retaliate for losses in the marketplace

Price wars are the result of competitors playing price as if it were a game of winning and losing. It is used to the detriment of the entire market.

Substantiate with a caselet and examples

Sessions 11: Pricing in Channels of Distribution

Learning Outcomes:

To gain an appreciation of value and pricing with manufacturer-retailer, manufacturer-distributor and distributor-retailer relationships

To understand push and pull marketing and the channel pricing strategy for each



To understand value within channel relationships that is, who creates value for whom

Push versus pull strategies


Sessions 12: Pricing Over the Product Life Cycle

Learning Outcomes:

To be familiar with the four stages of the product life cycle and realize pricing options and opportunities within each

To understand how price sensitivity, costs, and competition influence pricing strategy over the product life cycle



Where a product is on the product life cycle has an important effect on pricing objectives and strategies.

The key drivers of this effect are: knowledge of customers, which drives price sensitivity; costs and changing cost structures over the life cycle; and competition the level and intensity of competitive conflict

Wrap up the discussion with examples from real world

Sessions 13: Measuring Perceived Value and Price Sensitivity

Learning Outcomes:

To realize the difference between uncontrolled and controlled measurement



Measuring a persons willingness to pay is especially prone to bias because people generally are not willing to reveal what they truly would be willing to pay.

It is important for the researchers to use proper methods to measure willingness to pay

Calculations to measure price sensitivity

Sessions 14: Ethics and the Law

Learning Outcomes:

Recognize ethical constraints in pricing

Learn how to apply non price variables to support pricing goals



Pricing behaviors are especially more likely to be judged in terms of ethical considerations

It is important for firms to understand how buyers judge fairness and ethical issues when making judgments about pricing and purchasing

Substantiate using two caselets

Sessions 15 &16: Project Presentations

Learning Outcomes:

Feedback on projects done

Product Policy & Management

Pre-requisite: Marketing Strategy & Organization/ Marketing Program Design


Markets are evolving due to changes in the area of technology; changes in consumer tastes, preferences and expectations; as well as intensification of competition due to forces of globalization. These trends are likely to continue and there would be increasing need for professionals to manage the product management function with considerable focus on new product development process. The skills required are multidisciplinary in nature. Frequently measured through multiple qualitative and quantitative methods, product management is often a stepping-stone to a broader general management career track. This module designed as an elective would bring up the dilemmas faced by the practicing managers in taking decisions and the likely solutions to the problems. The perspective of this course would be predominantly marketing, though the awareness of different functional challenges would be also appreciated. The course aims at helping the participants acquire a conceptual as well as practical understanding of the requirements, issues and tools involved in product management decisions.

Subject Learning Outcomes:

The course administration aims at enhancing the understanding of:

Concepts, tools and frameworks required for managerial decisions related to Product Management and New Product Management

Product Portfolio Management with the products on different stages of their life cycle (Outcome 3.1)

Skills in analyzing market information, customer expectations, and competitive forces Context-specific operational decisions using analytical and qualitative tools to assess

alternatives leading to choice of an appropriate course of action (Outcome 1.1)

Pedagogy:

This course will have two major pedagogical approaches: (1) case discussions, (2) lectures/discussions.

Books & Readings:

Books:

Donald R. Lehmann, and Russell S. Winer, (2004), Product Management, Fourth Edition, McGraw-Hill, Inc. ISBN 0-07-286598-92. New Products Management by C. Merle Crawford

Crawford, C. Merle and Benedetto, C Anthony, New Products Management, Seventh Edition, McGraw Hill

Marketing Strategy (Planning and Implementation), Walker, Boyd, Larreche, Tata Mcgraw Hill, Third edition

Readings:

The Product Life Cycle (HBS 579-072)

Exploit the Product Life Cycle (65608)

Note on the Boston Consulting Group Concept of Competitive Analysis (9-175-175)

Session Plan (Indicative): 16 Sessions of 75 min. each

Session No.

Topic of Discussion

1 Introduction to Product Management

2 Role of Product Manager

3 & 4 Marketing Planning and strategy

Case: Brannigan Foods: Strategic Marketing Planning

5 Environment & Competitor Analysis

Case: Harrington Collection: Sizing Up the Active-Wear Market

6 Segmentation & Customer Analysis

7 Product Life Cycle and Portfolio Management

Case: Reed Supermarkets: A New Wave of Competitors

8 New Product Planning & Development

Case: Flare Fragrances Company, Inc: Analyzing Growth Opportunities

9 Pricing Decisions &Tactics

10 Advertising Decisions

11 Promotions

Case: Reliance Baking Soda: Optimizing Promotional Spending

12 Channel Management & Monitoring

Case: Natureview Farm

13 Customer Relationship Management & Loyalty

14 Financial Analysis for Product Management & Marketing Metrics

Case: Giant Consumer Products: The Sales Promotion Resource Allocation

Decision

15 & 16 Project Presentations

Assessment Method:

Method Weightage

End Term Exam 40%

Quiz 20%

Class Participation (Case Analysis) 10%

Project Preparation & Presentation 30%

Project:

Students are to form groups of 4 for group project which will be evaluated based on Class presentation and project report submission which is due at the start of session No 13/14

The report and presentation is required on a marketing strategy for an actual product or brand (to be approved by the instructor by end of session 4). It should present challenging strategic and competitive issues. The purpose of the assignment is to integrate the material presented in the course in a single framework and apply that framework to a substantial strategy problem. In particular, it should focus on strategic and competitive issues facing the product or brand chosen. It is suggested that companies with purely short-term problems or with situations in which so little information is available that longer-term issues are vague (many new ventures fall in this category) should be avoided.

Assessment Method and Rubric Match:

Assessment Method

1.1

Demonstrate technical and analytical capabilities

3.1

Critically analyze situations to suggest innovative future growth opportunities

End Term Exam

Quiz

Class Participation (Case Analysis)

Project Preparation & Presentation

Sales Management

Course Background and Objectives Sales is the lifeblood of any company and sales managers are the heart and soul. Sales is a career. This course will help you to learn the skills essential to play a vital role in the day-to-day performance and bottom line success of any organization. This sales management course is an analysis of professional selling practices with emphasis on the selling process and sales management, including the development of territories, determining potentials and forecasts, and setting quotas. This course has been designed to help the students acquire and orient their understanding of different Sales Management perspectives, functions and intricacies of personal selling efforts. The students at the end of course shall be able visualize Sales Management with respect to planning the sales efforts in light of Setting Sales Territories, Determining the size and type of sales force, managing the sales teams though organizational functions and finally learn to motivate and control their efforts. Main goals of the course are:

To have students learn and understand the basic and essential principles and concepts of personal selling and sales management in the global marketplace.

To increase the students awareness and knowledge of the role that sales plays within the companys dynamic micro/macro environments.

To provide an understanding about personal selling as a systematic process. To provide insights into how people are motivated - both salespeople and prospective buyers. To enlighten the students perspective of how technology is changing the way sales is

conducted cross-culturally and around the globe. To define managerial and ethical problems faced by sales managers and to help students

discriminate between ethical and unethical sales practices To develop effective decision-making skills as sales managers.

Relevance to the program

This course will help you to learn how to connect with people and motivate them to succeed.Selling is not only for students of marketing as HR managers need to sell their company to new recruits and Finance managers may have to sell their equity to investors or their budgets to the higher management. CEOs are often picked from the sales ranks. Also, many students of IMTG start their careers with sales profile in different companies. Students of Marketing, Finance, HR, Strategy and IT specializations can opt for this course on Sales Management.

Subject Learning Outcomes

Subject learning outcomes of this Sales Management course are:

a) To provide a foundation for further in-depth study of sales as a career. b) To provide and introduction to the basic activities of sales management: evaluation;

compensation; forecasting; budgeting; time and territory management. c) Sales Management roles at different levels of hierarchy d) Demonstrate high level of cross-cultural understanding (S.No: 1.2) e) To apply integrated marketing concepts to real-life sales situations.

f) Develop smart presentation skills for persuasive communication across stakeholder relationships ( S.No: 1.4)

Pedagogy

1. Class Room Lectures 2. Case Discussions 3. Working in Groups by Students on topics discussed in the class and their presentations 4. Guest Lectures 5. Project Presentations 6. Videos on Sales Management 7. Role Plays

Course Requirements

iii. This is an interactive course, it is important for the students to come prepared for the class. Preparation for class includes having read the assigned study material. There are many cases in this course and students are required to come with their analysis of the issues raised in those cases.

iv. Students should submit a case analysis report and power point presentation one day before the scheduled class.

v. Each group is expected to prepare a Sales Manager Interview Team Project in different sectors. The project will be graded with particular attention to application of course reading material and concepts.

Evaluation Students will be evaluated on the basis of case analysis, projects, paper presentations, class participation, and term exams. The weightage given to each of these units is listed below:

Specific Assessment Method

Weightage Intended subject learning outcome to be assessed

a b c d e f


Group Project Submissions 20%

Group Project Presentations * 10%

Case Study submission 10%



Quiz 10%

End-term Exam 40%

* Compulsory for all to make at least 1 presentation

Please note that any student who will not take the quizzes or make presentations on the scheduled day/time will not be awarded any marks for that activity.

Session Plan

Session 1

Introduction to Sales Management (Purpose, Scope, and Course Organization)

Session 2

Need for Sales force Management

Session 3

Basic Selling Strategies- Skills Required

Session 4

Sales Person Personality and Motivation

Case: James R. Steiner

Session 5 The Selling Process: Prospecting and Approach

Session 6

The Selling Process: Needs Analysis and Presentation

Session 7

The Selling Process: Closing and Post Sales Service Session 8 Sales Force Organization

Session 9

Profiling , Recruiting and Compensation of Sales People

Case: Biomed Company

Session 10

Selecting and Hiring of Sales People

Case: Jindi Enterprises

Session 11

Sales Targets

Case: Parkin Laboratories

Session 12

The Strategic Role of Information in Sales Management

Session 13

Leadership of a Sales Force

Non-Needs Selling: Ethical and Legal Issues with understanding of social responsibilities in business context Session 14

Time and Territory Management Session 15-16 Group Presentations Text:

1. One Minute Manager Sales Person by Spencer Johnson, Larry Wilson, HarperCollins Publishers

2. Ziglar on Selling: The Ultimate Handbook for the Complete Sales Professional, Thomas Nelson Publishers

References:

Sales Management: Shaping Future Sales Leaders, John Tanner, Earl Honeycutt, and Robert Erffmeyer, Pearson Publishers

Sales Management: Decisions, Strategies and Cases-Still, Richard R, Cundiff, Edward W and Govoni, Norman A.P. 5th Edition. Pearson Education.

Dalrymple's Sales Management: Concepts and Cases, 10th Edition (Wiley Publishers) Professional Selling A Trust Based Approach, Ingram, Laforge, Avita: Harcourt College

Publications. Sales & Distribution Management: An Indian Perspective, Pingali Venugopal, Response Sales Management by Ingram, LaForge, Avila, Williams, Segments Books Smart Selling, Christopher Power. What Makes a Good Salesman, David Mayer and H M Greenberg. Management of Sales Force, Stanton, Bursnick and Spiro. Format for Project Preparation

Sales Manager Interview Team Project

Cover Page (to include group number)

Table of Contents

Executive Summary

Concisely state what you did and what you concluded that is important! Selected Manager

The rationale for why you chose this sales manager and firm. Also, provide an explanation of why the manager selected a sales job, what assignments s/he has had, and their philosophy toward a sales career.

How does this Sales Manager:

See their marketplace today changes and trends? View the importance of cultural diversity in the marketplace? Define the role of sales support? How important are ethics? Expect his sales force to follow a selling process? Organize the sales forceis this a local or centralized decision? Select salespersons when positions become vacant? Train new personnel? Train experienced salespersons? Select and interact with partners? Determine sales force size? Motivate the sales force? Use monetary and non-monetary incentives? Perceived success of

these actions? Reimburse the sales force for expenses? Evaluate the sales force? Frequency and method(s)? Play a role in forecasting? What method(s) are utilized? Contribute to the firms strategiesannual planning? Utilize CRM and practice relationship marketing?

Your Evaluation (MOST important):

How effective is this sales manager? Which of his/her activities are reflective of what you learned in class and what activities

differ? How do they differ and why do they differ?

Would you be willing to work for this manager and company? Why or why not? What have you learned from this experience that will be helpful in future business practices?

Evaluation of Case Study discussions

This portion of the evaluation will be primarily based on group presentations related to cases. Each group should prepare for each class as you would for a business meeting reading the assigned materials, thinking about the issues, and deciding how to apply them to a business situation. Format is as follows:

Identification of key issues (20%): Do not re-write the case. Identify the key issues and discuss why you feel so.

Assumptions (20%): Identify the important assumptions that are being made by the characters in the case. For example: management assumes that sales force automation will improve sales. Discuss the assumptions as to whether or not they are good assumptions or poor assumptions. What happens if they are incorrect? How would you find out or determine if

they are wrong? If you make assumptions, you can either identify them here or in the alternative section, which ever makes more sense.

Alternatives (30%): You should discuss several alternatives or solutions to the key issues or problems identified. Discuss the advantages and disadvantages of each solution and evaluate the appropriateness of each alternative. You should have more than one for each issue (otherwise you dont have alternatives), and you should have some that are mutually exclusive. That means that your recommendation cannot be do all of the alternatives.

Recommendation (30%): Justify your choice of action and discuss why this alternative is more appropriate than the others.

Marketing in Rural India

Course Objectives:

With the urban marketing nearing saturation in many product/service categories, marketers are moving towards the rural markets. The bottom-line of corporate giants HUL, ITC, Philips, Marico has been sustained by rural markets for quite some time. Recent recessionary phase made it clear to many more companies when they saw rural markets growing at a reasonable pace, contrary to the urban markets. These companies are now focusing themselves for grabbing the share of mind, heart and wallet of the rural consumers. The course will familiarize the students with the basic nuances of rural markets, rural marketing-mix, and innovative practices adopted by corporate that are successful in this market.


The course aims at making students understand and appreciate the uniqueness of rural context that constitutes the most vibrant segment of Indian market. The understanding would enable them to take appropriate management and business decisions in the Indian context. They would realize that such a unique market can be catered to only by being innovative. They would also realize that sustainable relationship between the corporate and the customer can be established by accommodating the social perspective well within the framework of business decisions. In a nutshell the program would aim at shaping the students as socially responsible leaders with an innovative bent of mind to serve the rural heartland of India.

Learning goals:

The course aims achieving the following goals:

(a) Making students aware of the social-cultural and economic fabric of rural India.

(b) Helping students to understand the points of convergence and divergence of rural markets

with conventional markets in urban India.

(c) Presenting a structured frame-work to students for analyzing unstructured problems faced in

rural markets.

(d) Inculcating innovative thinking among students to overcome barriers that cannot be done by

adopting conventional line of thinking (Outcome 3.1)

(e) Making students aware of social implications of business decisions.

Session Plan

Session 1 Introduction to Rural markets:

Discussion on different perspectives on what is meant by rural, points of contrast and connection between urban & rural, Rural Marketing framework, evolution of rural marketing-mix in this framework, Indian rural market: a myth or reality?

Suggested reading: Report: Masters of rural markets (see web-link in list of references), chapter 1 of text-book

Session 2 A look at rural economic system

Composition of rural economy, sources of income and its pattern, rural infrastructure, rural financial system, role of micro-finance

Suggested reading: Chapter 2 of the text-book

Session 3 Rural Consumer

Discussion on key observations regarding behaviour of rural consumers

Suggested readings: Chapter 3 of the text-book, assorted articles

Session 4 segmenting the rural markets

Composition of rural markets in terms of consumer segments, sources of distinctiveness, levels of segmentation of rural markets, different approaches for segmenting rural market.

Suggested reading: Chapter 5 of text-book

Session 5: Case Study: Project Shakti

Demonstrating the business challenges of catering to consumers at the bottom of the pyramid and need to come up with innovative solutions to rural-specific problems.

Session 6 Case Study: Godrej Chhotukool- A cooling solution for the mass markets

Launching innovative products that are relevant to the context in which they

are used.

Additional reading: Chapter 6 of the text-book

Session 7 Case Study: eHealthpoint: Healthcare for rural India

How potential at the base of pyramid is tapped by creating sustainable and innovative services using technology platform

Session 8 Pricing strategies for rural markets

Concept of exchange, value and price, role of pricing and affordability in rural marketing, different options available on pricing front, discussing some real life examples of rural pricing


Session 9: Case Study: Narayan Hrudayalaya Heart Hospital: Cardiac care for the

poor (A)

To demonstrate how world class service can be designed and delivered to people at a price that is affordable to the people at the bottom of the pyramid.

Session 10: Communicating with rural audience

How communication for rural audience differ from that for the urban audience, different communication option and their application in rural context, elements of rural advertisements.


Session 11& 12: Reaching the consumers

Challenges in rural distribution, description of rural distribution channels, some innovative rural distribution initiatives, organized retailing in rural India.

Suggested readings: Chapter 8 of the text-book

Session 13: Case Study: Hariyali Kisan Bazaar: A rural Business initiative

To explore a rural business model in India, and discuss its implications for both agribusiness and retail

Session 14: Case Study: The ITC eChaupal initiative

How business organizations may look beyond treating rural areas as a market and partnering with them to create value for the national and/or global markets

Session 15 & 16 Class presentations by students

Text-book:

Pradeep Kashyap, Rural marketing-2nd ed., Pearson Education

References:

Accenture Report, Masters of the rural markets, available at http://www.accenture.com/in-en/Pages/insight-masters-rural-markets-2013.aspx

Newspaper article: The rural consumer: S/hes different, available at http://www.thehindubusinessline.com/features/brandline/the-rural-consumer-shes-different/article2224287.ece

Article titled Rural Consumer Myth-I, available at http://ramabijapurkar.com/consumertrends/ct_rural_con_myth_I.php

Article titled Rural Consumer Myth II, available at http://ramabijapurkar.com/consumertrends/ct_rural_con_myth_II.php

Velayudhan, Sanal Kumar, Rural Marketing- Targeting the non-urban consumer, Response business books by SAGE

Dogra Balram & Ghuman Karminder, Rural Marketing-Concept & Practices, Tata McGrawhill

Krishnamacharyulu C. S. G. & Ramakrishnan Lalitha, Rural Marketing- Text & Cases, Pearson Education.

Singh Awadhesh K & Pandey Satya Prakash, Rural Marketing: Indian Perspectives, New Age International Publishers

Singh Sukhpal, Rural Marketing Management, Vikas Publishing

Pedagogy:

Pedagogy would be a mix of lectures, case-discussions/presentations, audio-video inputs and class

discussions.

Office Hours: Students may meet and discuss issues related to the course during following time-slot:

Section A: Thursday, 2.45 PM 4.45 PM

Section B: Wednesday, 11.15 AM 1.15 PM

Section C: Friday, 1.00 PM 3.00 PM

Cabin No. 3, Faculty-II

Ground Floor, Main Academic Block

General guidelines for conduct of class:

Please ensure that you enter the class before the instructor. No delay shall be permitted under any circumstances provided it is intimated in advance and is due to official reasons.

In case you fail to appear in a class due to any reason you would be marked absent. Allowance for official duty should be taken care by the APO and shall not be handled by the instructor.

Do not use your laptops and mobile phones inside the class. Failure to comply with this request would lead to your expulsion from that class.

Please go through mandatory reading for the session before entering the class. First few minutes would be used to check whether you have read or not. In case you fail to answer two consecutive questions on the same you would be requested to leave the class and marked absent for the session.

Do contribute constructively to the class. Register your intention to contribute by raising your hand. Remember it is the quality of contribution that matters not the quantity.

Guidelines for team project:

Class would be divided in teams. Each team would be provided a field project related to concepts discussed in the course. Project would be finalized within the first two weeks of commencement of classes. Teams are required to submit a brief synopsis covering introduction to the project, its

practical significance, scope (in terms of entity selected), methodology and key milestones. Teams would be required to submit 2 progress reports at specified time intervals. A soft copy of the report should be submitted atleast two days before the scheduled

presentation at [email protected]. Final submission should be approximately 10 pages long, typed in MS Word with 1.5 line

spacing, normal margins, 12 font size, New Times Roman. Hard copy of project submission should be submitted by the last class of the course. All the submissions would be compulsory put to plagiarism. If found guilty of plagiarism,

teams they would be awarded zero score and the case would be forwarded to higher authorities for disciplinary action.

Guidelines for presentation:

Presentations of the team project should be a in the form of a PPT or any other format compatible with Windows 7 operating system.

All the presentations should reach (through an e-mail) the instructor 24 hours before the scheduled day of presentations.

Each e-mail/presentation should necessarily mention cell number of person who should be contacted in case the instructor wishes to get some changes made during those 24 hours. It must be ensured that the person is willing to and available for carrying out those changes during that time.

Teams do not need to bring their laptops for presentations. All the PPTs would be loaded in the instructors laptop and would be presented from there only.

Presentations should range from 7-10 minutes, covering vital aspects of projects. Do not give introduction to company/brand. Focus on the rationale, objectives, methodology, analysis, output, recommendations and implications.

Failure to complete the presentation in 10 would make a team liable for deduction of marks. Quantum of deduction would be sole discretion of the instructor.

Evaluation:

Students will be evaluated on the basis of case analysis, project, quizzes, class participation, mid-

term and end-term exam. The weightage given to each of these units is listed below:

Class Participation 10% Quizzes 20% Group Project submission 10% Group project presentation 10% End Term Exam 50%

Specific Assessment Method Weightage Intended subject learning outcome to be assessed

d






Quiz 10%

End-term Exam 50%

B2B Marketing

Subject Title B2B Marketing

Credit Value 2

Pre-requisite Marketing Strategy & Organization/ Marketing Program Design

Introduction and Relevance to the Career Track

B2B Marketing encompasses those management activities that enable a supplier firm to understand, create, and deliver value to other businesses, governments, and / or institutional customers. In the context of these business markets, value is the worth in monetary terms of the economic, technical, service and social benefits a customer firm receives in exchange for the price it pays for a market offering.

There are four guiding principles:

Make value the cornerstone Focus on business processes Stress doing business across borders Accentuate working relationships and business networks

This course is designed to provide students with a good understanding of the concepts of

B2B marketing. It helps them develop critical analysis and problem-solving abilities with respect to business market management. The classes have been organized in a format to facilitate intense learning, featuring thorough discussion and analyses of appropriate management cases

Subject Learning Outcomes

a. To develop an understanding of the concepts and frameworks of Business-to- Business market management (also referred to as B2B Marketing or Industrial Marketing).

b. Develop critical analysis and problem-solving abilities with respect to Business Markets. (Outcome 4.2 )

c. Gain a first-hand understanding of working relationships within and between firms in business markets

d. To explain how firms are to be understood as customers and to outline their varied purchasing orientations.

e. To discuss significant differences in segmentation bases between business and consumer markets. Discuss few practical suggestions & provide guidelines for segmentation of business customers.

f. To explain the role of technology in developing of new industrial product and the different steps of aggregate project plan for accomplishing the development objectives of the firm. Discuss the importance of customer orientation in new industrial product development and the role of external network in new industrial product development.

g. To discuss the phenomenon of commodity magnet and the strategies that managers can adapt to beat the commodity magnet of industrial products

in the maturity stage of the market life cycle. h. To discuss the importance of branding of industrial product and to

outline the process of brand-building in B2B market. i. To discuss the concept of perceived value based pricing in business

market and price negotiation based on perceived value pricing model. Discuss price negotiation for original equipment manufacturer (OEM).

j. To explain the various steps for designing a customer driven distribution system and discuss the various issues in managing business market channels.

Subject Synopsis/ Indicative Syllabus

Business Market Perspective-

The objectives of this topic are to explain what business- to-business marketing is and what are the differences between business-to-business marketing and consumer marketing; to establish the paradigm of business-to-business marketing; and to identify the challenges of business-to-business marketing

Understanding Business Customers Buying Process and Behavior

The objectives of this topic are to explain how business firms are to be understood as customers and to outline the different purchasing orientations of business firms; to explain how purchasing works with other functions and the motivations of different buying team members; to outline the different models which explain the business customers buying behaviour; to discuss how business customers take purchase decisions; to explain the key tools used by business firms in purchasing decisions and to outline the different ways by which business firms evaluate vendor performance

Segmentation of Business Market The objectives of this topic are to discuss the importance of segmentation of business customers and the significant differences in segmentation bases between the business market and consumer market; to outline two important segmentation models of business market - Wind-Cardozo Model and Bonoma-Shapiro Model; to discuss few practical suggestions for segmentation of business customers and provide guidelines for segmentation of business market; to outline the process of evaluation and selection of market segments, and to discuss how appropriate value proposition is to be developed for each selected market segment and what should be the competitive marketing strategy for each of these segments.

New Industrial Product Development The objectives of this topic are to explain the role of technology strategy in developing of new industrial product; to discuss the different steps of aggregate project plan for accomplishing the development objectives of the firm; to outline the general new product development model and the next generation new product development models; to discuss the importance of customer orientation in new product development and the role of external network in new

product development, and to explain the process of adoption of new product by industrial firms.

Pricing of Industrial Products The objectives of this topic are to explain the cost-plus and competition-based pricing traditionally followed by industrial firms; to discuss the concept of perceived value based pricing in business market; to explain the pricing strategy of industrial products through its product life cycle/technology adoption life cycle; to discuss price negotiation based on perceived value pricing model in general and specifically price negotiation for original equipment manufacturer (OEM); to outline the competitive bidding process in business market, and to explain the concept of lease pricing.

Distribution Channels for Industrial Products The objectives of this topic are to discuss the importance of business channel as distinct from channels in consumer market; to explain the various steps for designing a customer driven distribution system; and to discuss the various issues in managing business market channels. Personal Selling of Industrial Products The objectives of this topic are to discuss the importance of selling in business market and its distinctive features; to explain the different approaches of selling in business market and their appropriateness under different situations; to outline the process of customer centered selling; and to discuss the strategies for sales negotiation. Key Account Management The objective of this topic is to discuss the value addition of the relationship between the Sellers and Buying organizations to maximize their business Key account management, key account strategies require full support of the business. To Gain and pursue competitive advantage, securing future business on sustained basis from the key account, to become a significant partner, rather than be a mere supplier

Competitive Intelligence

The objective of this topic is to discuss Competitive intelligence it is more than analyzing competitors it is about making the organization more competitive relative to its entire environment and stakeholders: customers, competitors, distributors, technologies, macro-economic data etc. The focus is on the external business environment. There is a process involved in gathering information, converting it into intelligence and then utilizing this in business decision making.

Text book

Business Marketing Concepts and Cases ; Sharad Sarin ,1st edition .Tata McGraw Hill

Reference Books

1. Business Marketing : Connecting Strategy ,Relationships and Learning , F Robert Dwyer ,John F Tanner , 3e TMG

2. Industrial Marketing -Analysis, Planning & Control - Robert R. Reeder, Edward G.Brierty, Beety H.Reeder 2e , Prentice Hall of India

3. Business Marketing Management : Micheal D Hutt& Thomas W Speh ; 11th edition: Cengage Learning

SESSION PLAN:

Session 1 & 2

Topic : Business Market Perspective

Segmentation of Business Markets

Essential Readings

: Textbook- Ch.1& 6

: Cable Joints and Accessories (CJA)India Ltd case

Session 3 & 4,5

Topic : 0rganisation Buyer Behavior

Workshop on Specification writing

Essential Readings

: Textbook 2&3

Session 6 Topic : Developing Selling Approach & Managing Customer Relationships

Essential Readings

: Textbook Ch 13 and own point

Session 7&8 Topic : Case -Hewlett Packard Computer System Organization :Selling to Enterprise Customers:

Essential Readings

: Text book chapter 14

Session 9 Topic : New Industrial Product Development &Pricing

Case : KONE:The MonoSapce Launch in Germany

Essential Readings

: Textbook- Ch 7,8&10

Session 10 Topic : Competitive Intelligence

: Own Inputs

Session 11&12

Topic : Distribution Channels

Case : Ingersoll Rand (A)& Own inputs

Essential Readings

: Textbook Ch 11

Session 13&14

Topic : Key Account Management

: Guest Lecture

Essential Readings

: To be given by Guest Faculty

Session 15&16

Topic : Marketing to Government Sector ,Tendering

Essential readings

: Textbook Ch 17 & own inputs

Please note that 2 sessions will be for Project Presentations as extra class

Assessment method in alignment with learning outcomes Students will be evaluated on the basis of case analysis, project, quizzes, class participation, mid-term and end-term exam. The weightage given to each of these units is listed below:

a. Class Participation 10% b. Case Analysis 20% c. Quizzes 10% d. Group Project submission 10% e. Group project presentation 10% f. End Term Exam 40%

Specific Assessment Method Weightage Intended subject

learning outcome to be assessed

b




Case analysis submission 20%



Quiz 10%

End-term Exam 40%

Things to do before the Next Session

Groups

Please form groups of 5 members and select a group leader from amongst the members. S /he would be the touch point for various group linked activities during the course. Group leaders kindly mail me your member list in excel format with your name on top. It is the responsibility of the participants to ensure that s /he is included in one of the groups.

Select a CR

Communicating Corporate Reputation Roles and Purposes

In the growing competitive market, managing and developing the reputation of a company is the corporate mantra. Researchers state that the bottom line of the company is directly proportional to the reputation a company enjoys in the market. The involvement of the company in building the corporate reputation begins at the level of the CEO and ends at the level where each and every employee is directly or indirectly involved in explicitly or implicitly promoting this intangible asset. This course is designed to help in understanding the concept of reputation of a company, how it is developed and communicated to the internal and external stakeholders. Objectives

To develop an understanding on communicating corporate reputation To evaluate the dimensions of reputational capital To analyse how corporate communication can be used as a tool for building tangible and

intangible assets. To hone skills of communicating reputational content to internal and external stakeholders To gain experience in media interface

Subject Synopsis/ Indicative Syllabus (CASE LIST TO BE PROVIDED)

Session

Module

1. Introduction to the Course2. Building and Communicating Corporate

Reputation (Focus: Analysing reputation from a multiple stakeholder perspective and understanding various aspects of building and communicating reputation of an organization)

3.

4. Communication with Internal Stakeholders(Focus: Developing reputational asset through appropriate communication with internal stakeholders)

5. 6. 7. Communicating with External Stakeholders

(Focus: Comprehending the expectations of external stakeholders and learning skills for communicating differently with a wide array of external stakeholders)

8.

9. Connecting with the Media(Focus: Understanding the dynamics of media relationships and communicating to enhance organizational reputation)

10.

1112. Crisis Communication (Focus: Positioning corporate communication as a strategic tool for pro-active crisis management)

13.

14. Managing Reputation Online (Focus: Leveraging online resources to improve and enhance corporate reputation 15.

16. Review & Winding Up

Teaching Learning Methodology

The course is structured on case based and project based learning, besides interactive lectures, role plays, and group discussions. The emphasis in the curriculum is on developing strategic communication methodologies for communicating reputation. Reading List and References

Prescribed Text Corporate Communication, Argenti, Paul. 5/ed, Tata McGraw Hill Publication

Additional Reading Corporate Communication: Principles & Practices, Jethwaney, Jiashree, Oxford

University Press Strategic Corporate Communication, Argenti, Paul. Tata McGraw Hill Publication Working with Media, Onford University Publication

Module-Wise Relevant Readings

Building and Communicating Corporate Reputation Gotsi, M. & Wilson, A. M. (2001). Corporate reputation: Seeking a definition. Corporate

Communications: An International Journal. MCB University Press. 6 (1), 24-30. Highhouse, S.,Brooks, M.E. & Gragarus, G. (2009). An organizational impression

management perspective on the formation of corporate reputations. Journal of Management. 34(6), 1481-1494

Communication with Internal Stakeholders

Martin, G. (2009). Driving corporate reputations from the inside: A strategic role and strategic dilemmas for HR? Asia Pacific Journal of Human Resources. 47(2), 219-235

Martin G & Hetrick S (2006). Corporate communications and the employment relationship. Corporate Reputations, Branding and People Management: A Strategic Approach to HR (pp. 257- 293). Elsevier; Oxford and Burlington.

Communicating with External Stakeholders

Eccles, G.R, Newquist, C.S & Schartz, R. (2007). Reputation and its risks. Harvard Business Revie. 85 (2), 104-114.

Griffin, A. (2008). The corporation under fire. New Strategies for Reputation Management: Gaining Control of Issues, Crisis and Corporate Social Responsibility (pp. 31- 60). Kogan Page: London and Philadelphia

Connecting with the Media

Varney, J.R. (2002). Selecting media for communication. Dealing with the Media / How to manage it. Marketing Communication Principles and Practice (pp. 165- 191). Routledge; London.

Dowling, G. & Weeks, W. (2008).What the media is really telling you about your brand. MIT Sloan Management Review. 49 (3), 27-34.

Crisis Communication

Coombs, W.T. (2004). Impact of past crises on current crisis communication: Insights from situational crisis communication theory. Journal of Business Communication. 41(3), 265- 289.

Chong, J. K. S. (2004). Six steps to better crisis management. Journal of Business Strategy, 25 (2), 43-46.

Benoit, W.L. (1997). Image repair discourse and crisis communication. Public Relations Review, 23(2): 177-186.

Managing Reputation Online

Gaines-Ross, L. (2010). Reputation warfare. Harvard Business Review. 88(12), 70 79. Serrat, O. (2011). Managing corporate reputation. Retrieved on 20 June 2012 from

http://digitalcommons.ilr.cornell.edu/intl/147/ Capriotti, P. (2011) Communicating corporate social responsibility through the internet and

social media. In Ihlen, O., et.al (Eds) The Handbook of Communication and Corporate Social Responsibility (pp. 358 378). West Sussex.

Customer Relationship Management

Course Summary and Aims

This course examines customer relationship management (CRM) as a key strategic process within all organizations. CRM is defined as the overall process of building and maintaining profitable customer relationships by delivering value and satisfaction to the customer (Kotler and Armstrong, 2004). Focusing on process, strategy and technology, this course leads students from understanding the fundamentals of CRM through the implementation of CRM systems and analysis of customer data. It discusses the CRM philosophy as well as the systems in place that incorporate and integrate information from sales, marketing and service.

Student Learning Outcome

a) Understand the key elements of implementation of a CRM strategy. b) Demonstrate high proficiency of Business Skills in globally competitive environment

(Outcome 1.5) c) Emphasize on the importance of acquiring customers and retaining them for a life time. d) To go beyond customer satisfaction to customer delight and design strategies for the Indian

organizations e) Emphasizes on the importance of CRM as a relational philosophy being fused with

information technology f) Demonstrate informed strategic capabilities through application of conceptual knowledge

with applied orientation in both local and global context (Outcome 4.2)

Teaching Pedagogy

1. Class Room Lectures

2. Case Discussions

3. Working in Groups by Students on topics discussed in the class and their presentations

4. Guest Lectures

5. Project Presentations

6. Videos on CRM

7. Role Plays

Course Requirements

vi. This is an interactive course, it is important for the students to come prepared for the class. Preparation for class includes having read the assigned study material. There are many cases in this course and students are required to come with their analysis of the issues raised in those cases.

vii. Students should submit a case analysis report and power point presentation one day before the scheduled class.

viii. Each group is expected to prepare a case on CRM practices in different sectors.

Session Plan

Session 1: Introduction

Overview of the course Importance of CRM CRM as a Business Strategy

Session 2: Importance of Customers

Why Customers matter?

Customer Development Process

Customer Pyramids

Customer Alchemy

Case Study: Dilemma of a Bank Manager

Readings: HBR Article Understanding Customer Experience by Christopher Meyer and Andre Schwager

The Path to Customer Centricity-Denish Shah; Roland T Rust; A Parasuraman; Richard Staelin; George S Day, Journal of Service Research : JSR; Nov 2006; 9, 2; ABI/INFORM Global pg. 113

The customer pyramid: Creating and serving profitable customers- Valarie A Zeithaml; Roland T Rust; Katharine N Lemon, California Management Review; Summer 2001; 43, 4; ABI/INFORM Global pg. 118

Session 3: Understanding Customer Expectations and Perceptions

Case Analysis Chantale and Clinton

Questions:

1. What were Chantale and Clintons service expectations? How did they develop?

2. What is your evaluation of the Canadians provision of repair service?

3. Should The Canadian or other stores be concerned about incidents of this type? Why or Why not?

4. What do you believe were the underlying causes of The Canadians perceived performance? Why did these develop?

5. What service recovery alternatives were available to The Canadian?

6. Could Chantale and Clinton have done anything differently? If yes, what? If no, why not?

7. The case ends on July 5, 2007. Should they take any further action at this time?

Session 4 & 5: Customer Satisfaction and Retention

Case Study: Personal Shoppers at Sears: The Elf Initiative

Questions:

1. What is Sears trying to accomplish with the introduction of the Elf Program?

2. Can the Elf program help Sears to increase its sales revenue or profitability? How?

3. Does the Elf program represent a competitive advantage?

4. How likely is it to succeed? What metrics would you use to monitor the Flf program and evaluate its success?

Readings: HBR Article, Why satisfied customers defect by Thomas O Jones and W. Earl Sasser, Jr.

Session 6 & 7: Understanding Relationships

Case Study: Infosyss Relationship Scorecard

1. How does Infosys customer-centric organization compare with that of other companies? What challenges does this organization try to address? What tensions do these challenges create, and how does Infosys deal with them?

2. What is the role of the RSC in a customer relationship? What does an RSC offer that is not already contained in the clients SLAs? What are the opportunities and challenges involved in building an RSC?

3. Infosys has learned through its RSCs that some customers are dissatisfied with its team turnover. How would you respond to Apteds request to keep the best people in the Syngenta team? How would you deal with this issue from Syngentas perspective?

4. How should Sanjay deal with the challenges and tensions that have arisen with the use of the RSC? Could you help Sanjay design an action plan to improve the RSC? Should Infosys make it a priority for EMs to get their clients to embrace RSCs? Should Sanjay suggest using the RSC earlier in the relationship with a client? Is there any change that you would introduce to the content of the RSC?

Readings: Fournier, Susan, Susan Dobscha and David G. Mick (1998): Preventing the Premature Death of Relationship Marketing, Harvard Business Review, (January-February), 42-51.

Session 8: Customer Life Time Value

Readings: HBR Article Customer Profitability and Life time Value by Elie Ofek

Session 9: CRM software, demonstration and uses- Guest Lecture

Session 10: Customer Loyalty

Readings: HBR Article Mismanagement of customer loyalty by Werner Rei

Sales, Marketing and Business Development

Documents

Transcript of Sales, Marketing and Business Development