UNIVERSITY OF ALBERTA SCHOOL OF BUSINESS
Department of Marketing, Business Economics, and Law
MARKETING 472/A1 - PRODUCT MANAGEMENT AND PRICING SPRING SESSION 2014 COURSE SYLLABUS
Instructor: Webb Dussome Time: MW 10:30 - 13:20
Location: BUS 3-06 Office: BUS 1-29, Business Bldg.
Phone: (780) 492-0675 Fax: (780) 492-3325
E-Mail: [email protected]
Course Website: https://ulearn.ualberta.ca/webapps/login Library Website (for Product Management):
http://guides.library.ualberta.ca/content.php?pid=320344&sid=2621464 Office Hours: before/after class, or by appointment
Course Overview
Marketing 472 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 obvious. They are arguably the most important of the four Ps because, put simply, price is what an organization receives from customers in return for its products.
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
product category analysis – including the use of a framework to better understand the attractiveness of product categories
new product development – a more in-depth look at how product managers can better introduce new products
environmental 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.
Required Texts The required text is:
Product Management/Pricing. Third Custom Edition for the University of Alberta.
Pearson Learning Solutions, 2014 Evaluation
Assignments – 30% (one assignment for each topic, 15% each) Exams - 70% (one 2 hour exam for each topic, 35% each)
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
Exams
There will be one exam for each topic in the course. The exams are not designed to be cumulative in their coverage, but there is likely to be some advantage to recalling and understanding material covered in any previous exam. Students should familiarize themselves with the University’s guidelines regarding exam deferrals.
Assignments
There will be one assignment for each topic in the course. The product management assignment is attached to this course outline.
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
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.uofaweb.ualberta.ca/governance/StudentAppealsRegulations.cfm) 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
Policy about course outlines can be found in Section 23.4(2) of the University Calendar.
Course Structure
Class time will be divided between lecture, class discussion, 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. Recording of the lectures is not permitted.
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. The instructor does not post his slides to the course web site.
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:
May 5 Course Introduction, Lehmann Chapter 4 (on ulearn site)
May 7 Management and Administrative Functions, Competitive Intelligence*, Customer Based Brand Equity (ch. 1 of text)
* skim pages 2-24 from http://www.exinfm.com/training/pdfiles/course12-1.pdf May 12 Brand Resonance and the Brand Value Chain (ch. 2)
May 14 New Product Development**, Developing a Brand Equity Measurement and Management System (ch. 3)
** skim pages 2-28 of this document as a backgrounder to this class.
http://www.iipmalumni.com/images/CareerDevelopment/New%20Product%20Develop ment.pdf
Product Management Assignment Due
May 19 Victoria Day, no class
May 21 Measuring Sources of Brand Equity (ch. 4), Product and Portfolio Management /Metrics (ch. 5)
May 26 Product Management Exam (2 hours)
Pricing:
May 28 Chapters 6 and 7 June 2 Chapters 13 and 8 June 4 Chapters 9 and 10
Pricing Assignment Due
June 11 Chapters 11 and 12
The two hour final (pricing) exam will be held on the date and time specified by the University of Alberta.
MARK 472 - PRODUCT MANAGEMENT ASSIGNMENT – SPRING 2014
This assignment is due at the start of class on May 15, and is worth 15% of your overall course mark. Successful completion will require an in depth use of the applicable course readings and your product management class notes, and relevant secondary research sources. The following web site will be helpful in the completion of this assignment: http://guides.library.ualberta.ca/business-marketing472
Find a magazine or newspaper advertisement for one brand of your choosing, and then answer the following questions:
1./ Analyze the brand’s current position in terms of Its key points-of-parity and points- of-difference. (2%) Please use the material from chapter 1 to answer this question.
Ensure your answer is based on the product/brand in the ad, and not the overall brand/parent company.
2./ Could this brand’s category be considered attractive? To complete this question, you will need to complete a category attractiveness analysis (see figure 4.11 in the Lehmann chapter 4 reading), and to provide a summary based on this analysis. (8%)
3./ Based on your responses to the above questions, describe your role as a product manager for this brand in 2014. What are your key responsibilities? What could you do to maximize brand equity in the coming year? Be as specific to the brand and course concepts as possible, and utilize secondary data to support your discussion. (5%) 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://www.library.ualberta.ca/guides/apa/index.cfm
(b)/ You are limited to four pages, double-spaced (12 point font) for your write-up, ignoring exhibits (exhibits should include your ad, and a completed figure 4.11 from the text). Please note that the instructor will not read information beyond the four page maximum, and will penalize papers where the font is less than 12 point and/or the spacing is less than double.
i./ Depth of understanding of relevant course concepts, and your ability to effectively integrate them into your assignment.
ii./ Ability to generate informed discussion and analysis based on information from the course and other quality secondary resources.
iii./ Quality and quantity of your references.
iv./ Overall organization of the paper in terms of grammar, punctuation, etc.