Driving Business Performance Through Marketing
MSMD|Marketing Strategy and Market Dynamics
In this hands-on, simulation-based workshop, you will learn how to market effectively in a dynamic, competitive marketplace.
Put marketing theory and fundamentals into practice in this hands-on, simulation-based workshop. In this dynamic, interactive experience you and your fellow workshop participants manage the business for three years, and make 12 quarterly decisions with the objective of outsmarting and out-executing the competitors built into the simulation.
Make decisions around market research, target market selection, positioning, product design, pricing, distribution channels, sales force management, and marketing communications to put techniques to practice. Using metrics generated by the simulation, you will repeatedly analyze your position, evaluate the effectiveness of your strategy, and develop and execute strategy adjustments.
- Marketing frameworks
- Drivers of customer responses
- Applying marketing frameworks to business simulation
- Manage the real-world challenge of making decisions despite incomplete information
- Observe how a particular market changes in response to your decisions
- Recognize the interaction of your marketing decisions with others in and outside your firm
- Understand the link between marketing strategy formulation and effective execution
- Use segment/customer needs analysis to make product policy/design decisions
- Understand segmentation, targeting and positioning
- Set and change price in response to market dynamics
- Manage channel conflict and maintain consistency across multiple channels
- Use metrics to measure firm performance as well as customer and competitor response to your actions
- Appreciate the relationships among customer satisfaction, customer buying patterns, customer loyalty and firm profitability
Kapil Jain, Ph.D., Senior Lecturer, Department of Marketing
Kate Mackie, Ph.D., Distinguished Senior Lecturer, Department of Marketing