UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
Department of Marketing, Business Economics, and Law
MARKETING 664/X50 - PRODUCT MANAGEMENT AND PRICING Winter Session 2018 – Course Syllabus
Instructor: Webb Dussome Time: M 18:30 - 21:30
Location: BUS 1-05 Office: BUS 1-29A
Phone: (780) 492-0675 Fax: (780) 492-3325
E-Mail: [email protected]
Website: https://eclass.srv.ualberta.ca/portal/
Office Hours: before/after class, or by appointment Course Overview
Marketing 664 is a course that deals with two of the 4 ‘P’s’ in the marketing mix – pricing and product. The importance of these two topics to business is easily
understandable because, put simply, price is what an organization gets from customers in return for product.
Course Objectives
For the product management section of the course, the objectives are as follows:
1./ To gain an understanding of the roles and responsibilities of a ‘typical’ product manager.
2./ To develop the tools that allow a product manager to be successful, by incorporating the following topics:
brand equity – what it is, why it is important, how to develop and manage it, how to measure it
metrics – what the relevant ones are, and how to use them effectively
competitive intelligence – including research techniques and frameworks
new product development – a more in-depth look at how product managers can better introduce new products
environmental product sustainability – as a key for future competitive advantage, and for full consideration of a triple bottom line
3./ To be able to develop sound product strategies, based on the application of the tools outlined in (2) above.
For the pricing section of the course, the objectives include:
1./ To understanding the concept of value in pricing – how to create, communicate, and manage it
2./ To understand what costs are relevant in pricing decisions.
3./ To calculate economic value, and understand its role in making informed pricing decisions.
4./ To develop pricing policies, keeping in mind the relationship between pricing and the other relevant issues facing the organization.
5./ To understand the key segmentation issues that pricers should consider in their pricing strategies.
6./ To understand the process of setting prices, as part of an integrated framework.
As a senior marketing course, another key objective is to facilitate the application of course concepts to contemporary market planning and decision making.
Learning Goals
This course incorporates the learning goals of the MBA Program, in particular Critical Thinking and Problem Solving, Quantitative Skills, and Communications (written and oral).
Required Text
There is one required text as follows:
Product Management/Pricing. Custom Edition for the University of Alberta, 2014 Other related information will be added to the lecture notes during the term, and the sources will be noted in your class slides.
Evaluation
In determining the student’s final grade, the instructor will consider the student’s overall individual course performance in an absolute sense, and also each student’s performance relative to his/her peer’s performance. Final grades are assigned based on grouping students with similar grades.
Product Management: One major assignment worth 35%. This assignment is attached to this syllabus
This assignment addresses the MBA learning goals relating to critical thinking and problem solving, written communications, and research skills.
Pricing: One take home exam worth 35%. This exam will be posted on the class web site on March 26.
This exam addresses the MBA learning goals of critical thinking and problem solving, and written communications.
Class participation: 10%
This participation requirement addresses the MBA learning goal of oral communication and leadership.
Students will be assigned a mark for every class based on the contribution they make to that class. Hence, it is important to have read the applicable material before each class.
Participation marks will be assigned on a scale from 1 to 3, as follows:
A mark of three is assigned to students who display outstanding knowledge of the course material, and whose comments provide a leadership role for the discussion (i.e.
their comments drive the discussion). These students are also willing to take some calculated risks to develop innovative solutions. A mark of three will rarely be assigned.
A mark of two is assigned to students whose comments display their knowledge of the subject area/case, often based on external knowledge or insights. They are able to provide evidence for their points (i.e. they are able to substantiate their comments). A mark of two will be assigned in about one third of instances.
A mark of one is the most common assigned mark. It is based on the student’s ability to participate based on clear and sound logic which adds value to the discussion. The student’s points provide depth or support to the discussion, but do not otherwise move the discussion into new areas.
A mark of zero is assigned if the student is absent, or if they are conducting themselves in an unprofessional manner.
There are three other important considerations in the assignment of participation marks. The first is patience, as there may be more hands in the air than are possible to call on in each class. So students can expect to be have to wait for their turn and, in some cases, will not have an opportunity to speak. The second consideration is that ad hoc comments, although interesting and perhaps even entertaining, are not considered
other student’s comments. There is certainly room for rebuttal and disagreement (as well as agreement), but it should always show respect for other students’ points of view.
In the end, the quality of the discussion will always trump the quantity of the discussion.
Individual term project and presentation – 20% (15% for paper, 5% for presentation)
This project and presentation addresses the MBA learning goals of critical thinking and problem solving, research skills, plus written and oral communications.
Students will need to complete a term project and class presentation. They will select a topic and a presentation date, in consultation with the instructor. Presentations can begin in the third week and continue until the end of the term. Topics and presentation times will be allocated on a first come, first served basis. Presentations will be limited to 20 minutes, after which there will be time allotted for a question and answer period. All projects must be initiated and completed exclusively for this course, and they must be directly relevant to the study of product management or pricing.
Project Topics
A topic raised in the text or the lectures may catch a student’s interest and they may wish to know more about it. This approach involves going to the library and finding other books, articles, and academic research reports on the subject, distilling the information, developing ideas, and reporting findings.
Project Evaluation
Reports should not exceed 5 double spaced pages (12 point font, 1 inch margins), and they will be evaluated according to the following criteria: careful and complete
research, logical development of conclusions and implications, originality and quality of the written report including coherence, grammar, and spelling. Reports are due on the day of the presentation. Presentations will be evaluated according to content and presentation dynamics.
Please hand in the assignments on the date they are due. If students have not made previous arrangements with the instructor, assignments will be penalized at 50% for each day they are late.
Academic Integrity From:
http://calendar.ualberta.ca/content.php?catoid=6&navoid=806#Evaluation_Procedures _and_Grading_System
The University of Alberta is committed to the highest standards of academic integrity and honesty. Students are expected to be familiar with these standards regarding academic honesty and to uphold the policies of the University in this respect. Students are particularly urged to familiarize themselves with the provisions of the Code of Student Behaviour (online at
http://www.governance.ualberta.ca/CodesofConductandResidenceCommunityStandard s/CodeofStudentBehaviour.aspx) and avoid any behaviour which could potentially result in suspicions of cheating, plagiarism, misrepresentation of facts and/or participation in an offence. Academic dishonesty is a serious offence and can result in suspension or expulsion from the University.
University Policy on Course Outlines From:
http://calendar.ualberta.ca/content.php?catoid=6&navoid=806#Evaluation_Procedures _and_Grading_System
Policy about course outlines can be found in Section 23.4(2) of the University Calendar, at http://www.registrar.ualberta.ca/calendar/Regulations-and-Information/Academic- Regulation/23.4.html#23.4
Recording of Lectures From:
http://calendar.ualberta.ca/content.php?catoid=6&navoid=806#Evaluation_Procedures _and_Grading_System
Audio or video recording, digital or otherwise, of lectures, labs, seminars or any other teaching environment by students is allowed only with the prior written consent of the instructor or as a part of an approved accommodation plan. Student or instructor content, digital or otherwise, created and/or used within the context of the course is to be used solely for personal study, and is not to be used or distributed for any other purpose without prior written consent from the content author(s).
Attendance
From: http://calendar.ualberta.ca/content.php?catoid=6&navoid=806#Attendance Since presence at lectures, participation in classroom discussions and projects, and the completion of assignments are important components of most courses, students will serve their interests best by regular attendance. Those who choose not to attend must assume whatever risks are involved. In connection to this students should review the following sections.
The University recognizes that occasionally life events occur that require a student to
are not granted automatically and will be considered only for acceptable reasons such as incapacitating mental and/or physical illness, severe domestic affliction, or for circumstances as described in the University's Discrimination, Harassment and Duty to Accommodate Policy (including religious belief). This policy is available on the University of Alberta Policies and Procedures Online (UAPPOL) website at
https://policiesonline.ualberta.ca. A multi-faith calendar is available at www.registrarsoffice.ualberta.ca/Calendar/Academic-Schedule.aspx.
Unacceptable reasons include, but are not limited to personal events such as vacations, weddings, or travel arrangements. When a student is absent without acceptable excuse, a final grade will be computed using a raw score of zero for the work missed. Any
student who applies for or obtains an excused absence by making false statements will be liable under the Code of Student Behaviour. Students should consult their Faculty for detailed information and requirements.
Course Structure
Class time will be divided between lecture, class discussion, off site field trips, and in- class exercises. To be most effective, students should be prepared to review notes from classes and to keep pace with readings from the texts.
Important point: Notes posted on the course web site make up only one part of the course material. Other relevant course material is handed out and discussed in class throughout the term.
Course Schedule
The following schedule is provided as a general guideline. Depending on the flow of the course it could change slightly, so students should keep current on in class activities.
Date Topic Product Management:
January 8 Course Introduction
January 15 Competitive Intelligence - see pages 1-26 from:
http://www.exinfm.com/training/pdfiles/course12-1.pdf January 22 Customer Based Brand Equity (ch. 1 of text)
January 29 Brand Resonance and the Brand Value Chain (ch. 2)
February 5 Developing a Brand Equity Measurement and Management System (ch.
3), Measuring Sources of Brand Equity (ch. 4)
February 12 New Product Development*, Product and Portfolio Management/Metrics (ch. 5)
*You may wish to skim read pages 2-28 of this document as a backgrounder to this class. http://www.iipmalumni.com/images/CareerDevelopment/New%20Product%20Development.pdf
February 19 Reading Week – no class Pricing:
February 26 Pricing, Chapters 6, 7
Product Management Assignment Due
March 5 Off campus trip – location TBA March 12 Chapters 8, 9
March 19 Chapters 13, 14 March 26 Chapter 10
April 2 Easter Monday – no class April 9 Chapters 11, 12
April 16 Pricing Exam Due
MARK 664-PRODUCT MANAGEMENT ASSIGNMENT – WINTER 2018
A hard copy of this assignment is due at the start of class on February 26, and is worth 35% of your overall course mark. Successful completion will require an in depth use of all of the course materials in the product management portion of the course, as well as relevant secondary research sources. The following web site may be helpful in the completion of this assignment: https://guides.library.ualberta.ca/mark472-664
Assume you are the product manager of the soft drink Amazon. Your task in this
assignment is to develop a plan for your product for the next three years. You will want to include the following tools of analysis in your assignment.
1./ The brand’s current position in terms of its key points-of-parity and points-of- difference. (2%)
2./ An analysis of Amazon’s brand equity, based on the brand resonance pyramid from chapter 2 (see figures 1 and 2 on page 44 for a summary). (7%)
3./ Examine how Amazon could incorporate the key concepts of sustainability (‘green marketing’) to increase their brand equity. (2%)
4./ Analyze the key metrics associated with measuring the performance of the brand in at least three areas (with brand equity being one of those areas). (5%)
5./ Outline how Amazon can use internet based tools such as social media to build their brand. (2%)
6./ Discuss techniques that Amazon could use to conduct their competitive intelligence activities. (3%)
7./ Discuss Amazon’s potential for introducing new products to the marketplace.
Discuss one potential new product they could develop. (2%)
8./ As an example of how to successfully integrate the product manager’s role in the company, focus on (for this part of the assignment only), the product Amazon Echo.
(2%)
9./ Based on your analysis of the above points, make recommendations on how Amazon could increase their brand equity in 2018. (10%)
Notes:
(a)/ You are to work independently of others on this assignment. Secondary data that supports your analysis is expected, and students are required to carefully reference all
of their sources in this assignment (improper referencing will result in a loss of at least 1% in your mark). For a guide to referencing format, students can find guidance on APA (American Psychological Association) formatting at
http://guides.library.ualberta.ca/apa-citation-style
(b)/ You are limited to twelve pages, double-spaced (12 point font) for your write-up, ignoring exhibits and title page. Please note that the instructor will not read
information beyond the twelve page maximum, and will penalize papers where the font is less than 12 point and/or the spacing is less than double. Penalties will be a minimum of 25% of the value of the assignment.
(c)/ Your work will be evaluated according to the following criteria: careful and
complete research, logical development of conclusions and implications, originality and quality of the written report including coherence, grammar, and spelling.
