APPLIES TO ACADEMIC YEAR 2014/2015

ELE 3762 Strategic marketing decisions and case analysis

Responsible for the course
Line Lervik-Olsen, Tor Morten Løland

Department
Department of Marketing

Term
According to study plan

ECTS Credits
7,5

Language of instruction
Norwegian

Introduction
Intensified competition in stagnant markets with increased economical turbulence force business leaders to make strategic marketing decisions quickly and efficiently. These decision are of both short- and long term nature assuming the least possible risk. This demands a good command of professional and analytical skills. Handling these challenges requires two sets of skills; knowledge about marketing strategies and the economical impact of different strategic choices and, equally important, ability to analyze complex market situations, identify relevant strategic alternatives, evaluate them, and ultimately make effective strategic marketing decisions. The needed skills can be acquired through two steps:

1. Learn about strategic marketing, and
2. Apply this knowledge in analyzing business cases

The course will provide an introduction to strategic marketing and its core concepts, models, and analytical tools, in addition to key economic parameters to estimate the impact of various strategic marketing initiatives. The course is mainly rooted in the field of strategic marketing, yet with an interdisciplinary approach that integrates and builds on knowledge students have acquired in subjects such as finance, strategy and organization. The objective of the course is to build on existing knowledge from this and previous courses and develop students understanding and skills in analyzing strategic marketing issues. Further, the course will enable students to work in teams, conduct internal and external analyzes, and make recommendations for decisions in the best interest of the business owners.

Learning outcome
Acquired knowledge
After completing the course, students should have :

• Gained basic understanding of the strategic marketing decisions managers face .
• Established knowledge of core concepts , models and analysis used to identify the corporate present situation of the market, identify desired market position and how this position can be achieved.
• Gained the ability to look across disciplines and apply knowledge from other disciplines such as economics, finance, strategy and organization to make sound strategic marketing decisions.
• Learned to analyze situations businesses face and diagnose problems by applying appropriate analytical tools from already known fields. This will give students a better understanding of how the various disciplines are interrelated as well as an overall strategic approach to decision making .

• Identify and reflect on critical issues .
• Conduct a strategic market analysis based on a business perspective and make sound strategic decisions based on the analysis being done.
• Discussing and presenting the chosen solution in a professional manner based on good professional and comprehensive understanding .

• Market strategy: analysis and perspective
• Analysis of current situation
• Internal analysis: the company´s position in the market.
• External analysis: environment and competition
• Where does the company want do be?
• Strategic market decisions and choices
• Segmentation, targeted marketing and strategies for positioning
• Different market strategies: (offensive/defensive/branding/relation)
• How can the company get there?
  • Innovation and development strategies
  • Service marketing
  • Pricing and distribution
  • Marketing communication
  • E-marketing
  • Social and ethical strategies

• Understand the complexity of a problem (different disciplines perceive different problems)
• Be able to present and argument for the problems chosen
• Use relevant and appropriate analytical tools:
• Financial accounting analysis
• Financial calculations
• Strategic analyses: internal and external
• Challenges related to the marketing plan
• Be able to summarize the analysis, make alternative courses of action, and present the best alternative.
• Be able to identify the organizational implications of the chosen alternatives or decisions.
• Present analysis and solutions, and be able to discuss and defend own choices.
• Develop constructive teamwork for optimizing decision making

1. Problem Clarification: identify key issues
2. Situation Analysis: (choose appropriate tool from the "Toolbox") economic, financial and strategic analysis, competitor analysis and market reviews required to best diagnose the situation.
3. Alternatives of actions / Implementation Plan: Based on the analyzes, propose realistic alternatives for action and present the best solution option. Being able to argue this.