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Marketing Curriculum

Below are a list of Marketing department courses. This is a partial listing of courses counting toward a concentration in Marketing and is subject to change.

37000 Marketing Strategy

This course introduces the substantive and functional aspects of marketing management. Specific course goals are as follows: (1) to introduce students to marketing strategy and the elements of marketing analysis: customer analysis, competitor analysis, and company analysis; (2) to familiarize students with the elements of the marketing mix (product strategy, pricing, advertising and promotion, and distribution), and to enhance their problem-solving and decision-making abilities in these operational areas of marketing; and (3) to use marketing case studies to provide an opportunity (both written and oral) to develop, present, and defend a student's own recommendations, and to examine and discuss the recommendations of others critically.

37101 Consumer Behavior

Consumers make many kinds of decisions. Some are based on rational thought processes. Many others span a range from limited rationality to the complete irrational. Some are conscious and based on thought processes that can be well articulated. Others are automatic and non-conscious, where the consumer may not be aware of why s/he is feeling or doing something. These processes have an impact on every facet of marketing strategy.

Understanding the psychological substrates of behavior will help managers develop optimal pricing strategies, promotion and advertising techniques and branding strategies. A complete understanding of the marketing process requires ways and means of discovering new insights into the perceptions, evaluations and motivations of the consumer. The logical next step is to develop these insights into profitable marketing propositions in creative and innovative ways. In this course, we will use psychological theories of consumer behavior to develop a managerial decision framework for the development and launch of new products, segmentation, brand management, pricing and promotions. From an industry perspective, this course will span a wide range of sectors, from consumer packaged goods to high-tech products and services.

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37102 Quantitative Marketing Research Methods

The course introduces students who seek positions in general management, consulting, and marketing (e.g. product/brand management, marketing research, marketing strategy) to marketing strategy research methods commonly used by corporations. These methods assist in the development of marketing strategies (positioning/differentiation, targeting of specific market segments) and in optimizing marketing mix decisions (for example, new product design, optimizing advertising spending). Students will become better customers of marketing research services and be able to conduct their own marketing research. The course exposes students to real marketing situations with data on consumer marketing, industrial marketing, and services. Data include surveys, experiments and actual market measures.

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37103 Data-Driven Marketing

Until recently, most marketing techniques were based on survey data. During the last two decades, however, many firms have adopted marketing methods that are based on actual customer behavior data and past marketing actions. These data include records of customers' past credit behavior, sales and price data in retail stores, advertising measures across time and markets, and the response of customers to direct mailings.

This course introduces several modern data sources, and discusses how these data can be exploited in practice to implement various elements of the marketing mix using statistical models. The following are examples of applications that we will discuss in detail: How can a credit card company exploit information on past credit behavior when targeting new customers? How should a company determine the shelf price of the products in its product line? By how much do promotional activities in retail stores boost sales, and what is the profitability from such a sales "lift"? How should a pharmaceutical company manage its promotion money to maximize the return on this budget? Which customers should a catalog retailer select to send a catalog to? How can the sales effect of TV advertising be measured?

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37104 Economics and Demographics of Marketing

This course focuses primarily on problems in strategic marketing forecasts that are related to long-term product development and investments. Alternative procedures for estimating variations in the demand over business cycles (3-5 years), intermediate periods (5-15 years) and long periods (15-50 years) for both consumer and producer commodities and services are considered. Much attention is given to the use of existing on-line databases for the estimation of a variety of forecasting models. Students receive hands-on-the-data training in a statistical laboratory that meets regularly throughout the quarter. In addition, there are two lectures per week that deal with four broad topics: the evolution of markets and of methods of distribution in America since 1800; variations in the life cycles of products; the role of economic and demographic factors in the analysis of long-term trends in product demand; and the influence of business cycles on product demand.

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37201 Developing New Products and Services

The primary purpose of this course is to provide marketers with an in-depth understanding of current best practices in new product development. Topics covered include: stage-gate new product processes, new product strategy, platform strategy, opportunity identification, perceptual mapping, market research techniques for uncovering customer needs, idea generation and screening, writing new product concept statements, concept optimization, new product forecasting methods (including innovation diffusion models and simulated test markets), brand extendability, and new product launch plans.

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37202 Pricing Strategies

How does a firm determine the price of a new product? How does a firm assess whether its current price is appropriate? What is price leadership? What is value pricing? These are just some of the questions we will address in pricing strategy. The course is a blend of analytic marketing techniques, marketing strategy, and economic theory. In the Chicago Booth curriculum, this course is a natural complement to 33001, 37000 and 42001. A combination of cases, lectures, and empirical applications are used in the class. You can expect to get your hands dirty working with real data and analyzing managerial pricing problems. In addition, the course offers a general framework for developing pricing strategies.

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37203 Integrated Marketing Communications

Marketing communication is an important component of the marketing mix, and one that is undergoing rapid changes with the development of new media, growth of internet marketing, and globalization. In this course, we develop an understanding of the process of developing and managing an integrated marketing communication campaign for a product or service. Although issues relating to planning and evaluating advertising strategy and sales promotion will receive the most attention, we also briefly discuss some current issues and trends in marketing communications such as the growth of web-based advertising and emergence of ad-avoidance technologies.

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37205 Going to Market: Managing Channel Strategy

How should a firm go to market? That is, how can an institution utilize its channel strategy to create and deliver value, efficiently and effectively? Product proliferation, media fragmentation, retailer power and the Internet have conspired to place a premium on strategic channel design and management. This course offers a framework to understand the issues and trade-offs that firms face as they design and manage their distribution channels. The framework can be used for consumer product sales, business-to-business sales, and sales of services. We will apply it to topics such as building brands, managing channel conflict, direct vs. indirect sales, strategic alliances, joint ventures, and franchising.

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37303 Marketing of Services

Services now account for over 70% of the U.S. Gross Domestic Product. Relative to products, services have distinct characteristics that make them different, and challenging, to market and sell. This course provides marketers with a framework for understanding all of the unique requirements for marketing of services - including marketing strategy, the services marketing mix, service delivery, and quality control.

The course covers business-to-business services and consumer-based services including recent examples from computer services, telecommunications, banking, mutual funds, fast food, airlines, hotels, Internet services, health care, and management consulting, emphasizing how marketing approaches differ by industry.

 

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37400 Advanced Marketing Strategy

The objective of this course is to present a dynamic view of marketing strategy. The overarching framework used in the course is the Product Life Cycle. The course content focuses on understanding, developing and evaluating marketing strategies for each stage of the Product Life Cycle. This includes strategies for pioneering brands, later entrants, strategies for growth, mature and declining markets. Current topics such as Consumer Generated Media, the Technology Adoption Life Cycle,

Hypercompetition and Customer Relationship Management will be discussed at the appropriate stage of the Product Life Cycle. From an industry perspective, the course has a strong focus on high-technology markets, business-to-business markets and services. The course uses a blend of qualitative and quantitative approaches with a strong emphasis on the latter. Students should be very comfortable using analytic techniques such as regression. Material is presented using a mix of cases and lectures. This course is targeted at students interested in strategy, consulting, brand management, marketing services and business development.

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37701 Laboratory in New Product and Strategy Development

This course complements Chicago Booth's strong training in business theory by providing a problem-solving experience for a small but diverse group of students. The course accelerates the process by which students learn to manage themselves and others when developing solutions to real-world business problems. It provides students with tools for solving complex problems and detailed feedback regarding their performance as managers, team players, and problem solvers. Students who complete this course report they learn a great deal about their abilities as business professionals and find themselves better prepared to manage complex problems and situations in the workplace.

Guided by faculty coaches who are experienced business professionals, each student group is challenged to solve a client problem as an effective team. In previous years Abbott Labs, Accenture, American Airlines, Ameritrade, Bank of America, BASF, Citicorp, Clorox, Dow Chemical, Eli Lilly, Frito-Lay, General Electric, W.W. Grainger, Honeywell, Johnson & Johnson, Kraft, Lucent Technologies, Nabisco, Snap-on Tools, and Roche Diagnostics have sponsored real-world projects. Client-sponsors report that the business insights generated by our teams are as good as or better than those produced by top tier consulting firms.