Course Descriptions

Course catalog descriptions for courses offered in all currently published terms.

Marketing

Department Chairperson: Manchanda, Puneet
Department Website: http://www.bus.umich.edu/Academics/Departments/Marketing
 
 
MKT 503 Marketing Management
  2.25 hours Core Terms Offered: F14(B), F13(B)
  Course Prerequisites: No credit in MKT 501 
   
  Marketing Management --- This course is concerned with understanding 1) an entity's own goals and abilities and 2) its potential and existing customers and competitors as bases for setting objectives and making decisions about products, services, pricing, promotion, and distribution. The ability to analyze current situations and objectives, recognize impediments, and generate solutions is the foundation for creating, achieving, and maintaining competitive advantage. This is a management-oriented course designed to give students an integrative framework for analyzing marketing programs and making marketing decisions. Leveraging the Business School's action-based learning approach, student teams take an active part in course development by creating cases based on their own areas of interest. The course consists of a mixture of lectures, student case presentations, in-class exercises, and a case-based final examination.
 
 
MKT 557 Marketing Management
  2.25 hours Terms Offered: M14
   
  Marketing Management --- Marketing management is a complex business function which requires both knowledge and skill in strategy formulation and implementation. It necessitates a systematic and disciplined approach, which employs the appropriate selection of tools, analyses, and logical reasoning. The purpose of this course, therefore, is to provide you with a broad knowledge of the core marketing concepts; opportunities to apply these marketing concepts in a variety of organizational contexts; a systematic and disciplined approach to marketing management; knowledge of, and the ability to select from a variety of marketing tools; opportunities to exercise your analytical skills and logical reasoning.
 
 
MKT 586 Entrepreneurial Marketing
  1.5 hours Core Terms Offered: F14(B), F13(B)
   
  Entrepreneurial Marketing --- Entrepreneurs face the challenging task of developing and launching new products and services. However, designing and launching new products is risky. Managing the new venture process therefore involves identifying new product ideas that have great potential, matching them with customer needs and fine tuning them via testing in order to lower the risk of their failure. Moreover, entrepreneurs need to be able to assess the demand potential for their concepts. This course is designed to acclimatize entrepreneurs with these essential tools. The course is divided into four modules:

1. Introduction to key marketing concepts
2. Opportunity identification and idea generation
3. Testing and sales forecasting
4. Going to market
The course uses lectures, cases and outside speakers. In the Masters of Entrepreneurship program, the course will help students identify market opportunities, understand customer preferences, evaluate market acceptance, and devise the appropriate going to market strategies.
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MKT 591 Marketing Management
  2.25 hours Core Terms Offered: P14, P13
  Advisory Prerequisites: Global MBA students only 
   
  Marketing Management --- This is a management-oriented course designed to improve students' business analysis skills and decision-making abilities. Throughout the course students are expected 1) to use the vocabulary and concepts of marketing, 2) to develop the ability to make decisions, 3) to support these decisions with analysis, and 4) to communicate their ideas both verbally and in writing. Major emphasis is placed on taking an integrative approach to marketing, addressing key decision areas of product, distribution, personal selling, advertising and pricing as they relate to overall corporate and marketing strategy. To achieve these objectives the course employs a mixture of case development and analysis, readings, lectures, written and oral assignments, and a case-based final examination.
 
 
MKT 601 Strategic Market Planning
  2.25 - 3 hours Elective Terms Offered: F14(A), F13, W13
  Advisory Prerequisites: MKT 501 or 503 
   
  Strategic Market Planning --- This course builds directly from Marketing Management 503 and is designed to provide an in-depth, "hands-on" learning experience in marketing strategy, planning and analysis. This course outlines key planning concepts and processes using le tures, case studies and a sophisticated competitive marketing simulation game where feedback is provided to management teams regarding the impact of their strategic and tactical decisions. The course integrates marketing decision making within the context of manufacturing and financial dimensions of a business organization. Course participants should expect to use large doses of common business sense and managerial acumen and to rely heavily on sound business and marketing principles in the learning process.
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MKT 603 Strategic Brand Management
  2.25 hours Elective Terms Offered: S13, F14(B), F13(B)
  Advisory Prerequisites: MKT 501 or concurrent 
   
  Strategic Brand Management --- In almost every industry, strong brands sell more, earn more, and last longer. This course covers the creation and leveraging of strong brands, for marketers, general managers, and consultants. We first learn what makes brands strong, via cases, research, and models. Once we develop a roadmap for building strong brands, we cover the strategy and tactics needed to do so: how to create high awareness and relevant identity; a reputation for high quality and leadership; relevant, differentiating, ownable and motivating imagery and associations; and emotional loyalty. Scores of brands, from many industries and countries, are discussed. Then we get to the smart leveraging of brand investments, via successful brand extensions. Finally we look at brand architecture and brand valuation. The emphasis is on practical, useful, real-world learning. For their term projects, student teams study a brand and strategies and tactics to make it stronger.
 
 
MKT 608 Pricing Strategy and Tactics
  3 hours Elective Terms Offered: F13, F14
   
  Pricing Strategy and Tactics --- The 4 Ps of the marketing mix are - (1) the product, (2) its promotion, (3) is distribution, and (4) its pricing. The first three elements are a company's attempt to create value while the last is an attempt to capture some of that value. As one marketing expert aptly stated, "For marketing strategists, pricing is the moment of truth - all of marketing comes to focus on the pricing decision." To prepare us better for that moment the objectives of this course are: i) to familiarize you with the concepts, theory and latest thinking bearing on the key issues in pricing, taking the perspective of the marketing manager. This will be done primarily through lectures, class discussions and assigned readings; ii) To provide you with the opportunity, through case analyses and problem solving, to apply concepts and theory to the solution of pricing problems in marketing settings.
 
 
MKT 609 Basics of Sales Management
  1.5 hours Elective Terms Offered: W14(A)
  Course Prerequisites: No credit in MKT 610 
   
  Basics of Sales Management --- The successful sales manager has discovered that integrating the sales function with the company's strategic planning increases productivity and maximizes profits. As customer loyalties diminish and marketing channels proliferate, sales - once seen as a tactical adjunction to marketing - has increased its role to become the key interaction between company and customer. Today sales professionals must expand their perspective to see their role in an enterprise-wide, cross functional context. This course examines the building blocks that a sales manager must consider in creating an organization to deliver the company's revenue goals. Topics covered include sales organization structure, recruiting strategies, training strategies, compensation structures and sales process as components to improve sales results in a market driven environment. All these topics have a number of variables that the sales manager must consider in optimizing productivity. Text materials, case studies and outside speakers are used to deliver the concepts.
 
 
MKT 610 Strategic Sales Management
  3 hours Elective Terms Offered: W13
  Course Prerequisites: No credit in MKT 609 
  Advisory Prerequisites: MKT 501 or 503 or 591 
   
  Strategic Sales Management --- The successful sales manager has discovered that integrating the sales function with the company's strategic planning increases productivity and maximizes profits. As customer loyalties diminish and marketing channels proliferate, sales - once seen as a tactical adjunction to marketing - has increased its role to become the key interaction between company and customer. Today sales professionals must expand their perspective to see their role in an enterprise-wide, cross functional context. This course creates an approach to building and managing a sales force in different market situations. Topics include personal selling skills, sales organization structure, recruiting, training, compensation, motivation elements, sales process, sales forecasting and pipeline management, sales rep performance management, sales force automation, ethics and leadership. Short problem case studies are used to reinforce these areas of sales management. A key delivery component of this course is the use of current sales management data from various companies to illustrate different applications of these elements. Students assigned to teams will work with Senior Sales VP's from their respective company to understand the SVP's thought process in creating their company's current approach in addressing sales management functions as well as recommending changes for the new fiscal year to address the SVP planning needs for the next fiscal year. Outside speakers are used extensively in delivering the concepts of the course as well.
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MKT 613 Consumer Behavior
  1.5 hours Elective Terms Offered: F13(B), W13(A)
  Advisory Prerequisites: MKT 501 or 503 
   
  Consumer Behavior --- Virtually all decisions involved in developing an effective marketing mix for a product or service rely on in-depth knowledge of the consumers who comprise the target market. Thus, a clear understanding of the principles, concepts, and results of consumer behavior is critical to successful marketing. In this course we will directly examine the available theory and research concerning the behavior of the consumer, with the goal of understanding how marketing managers can use these ideas. This course focuses on the consumer as an individual. The topics discussed comprise an examination of basic psychological processes: i.e., decision-making, information processing, and social influences. Thus, this course provides both a micro and macro perspective on the factors influencing a customer.
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MKT 614 Social Marketing
  1.5 hours Elective Terms Offered: W13(A)
  Course Prerequisites: MKT 501 or MKT 503 
  Advisory Prerequisites: MKT 501 or MKT 503 
   
  Social Marketing --- This course explores social marketing and consumer culture from managerial and ethical perspectives. The overall thrust of the course will be on using marketing methods to benefit the public interest. Topics will include: social marketing such as anti-smoking campaigns; corporate social responsibility and cause related marketing; marketing in nonprofit organizations; green marketing; economic and sociological perspectives on consumer culture; the psychology of happiness and how personal well-being is influenced by wealth, consumption, and materialism; and public policy concerns related to marketing and advertising.
 
 
MKT 615 International Marketing Management
  1.5 hours Elective Terms Offered: W13(A), W14(A)
  Advisory Prerequisites: MKT 501 or 503 
   
  International Marketing Management --- Marketing problems arising from various degrees of foreign involvement (exports, licensing, foreign subsidiaries) are considered. Subjects include: marketing research, product planning and development, pricing, promotion, distribution, and organization for international marketing, with emphasis on the management response to parameters which differ from those in domestic marketing, i.e. international economic factors, foreign cultures, nationalism and government influences, economic development, etc.
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MKT 617 Sensory Marketing
  1.5 hours Elective Terms Offered: W14(A)
   
  Sensory Marketing --- Sensory perception has a rich tradition in psychology. The manner in which people see, hear, smell, touch, and taste have been intensive areas of research in cognitive psychology and neuroscience over the past century. It is also conventional wisdom in marketing that consumers' choices of what they buy are contingent on how products look, feel, taste, sound, and smell. For instance, while color has been copyrighted for a long time (Tiffany robin blue), smells are only recently being copyrighted (e.g., grass smell for a brand of tennis balls); presumably, this unique smell gives some advantage to a brand. However, what exactly it does for the brand is not well understood by practitioners and is a current topic of research by marketing academics, building upon research in psychology.
The implications of sensory research seem imbued with insight for managers. It is, therefore, surprising, that the area of how sensations affect consumer information processing, decision making, and choice have received more sporadic interest by the marketing and business community. The proposed course will be the first course on Sensory Marketing to be offered in the country.
 
 
MKT 618 Marketing Research Design and Analysis
  3 hours Elective Terms Offered: F13, F14
  Course Prerequisites: No credit in MKT 619, 620 
  Advisory Prerequisites: MKT 501 or 503 
   
  Marketing Research and Analytics: Linking Data to Business Decisions --- This course focuses on managing the marketing research process which provides information as an input to marketing decision-making. This requires an understanding of the components of the marketing research process, how to utilize it effectively to obtain relevant information, and how to integrate such information into the marketing decision-making process. We will discuss both the "production" and "consumption" of information for marketing decisions.
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MKT 621 Applied Advertising
  1.5 hours Elective Terms Offered: W13(A), W14(A)
  Advisory Prerequisites: MKT 501/503 
   
  Applied Advertising --- An advanced-level seminar geared to marketing majors and others with marketing experience. This class will provide a "real world" introduction into developing, evaluating, and leveraging integrated advertising ideas. The class is led by a 25-year advertising agency and client practitioner. He will be assisted by guest presenters including creative directors, the head of training for a global media company, and the CMO of a Fortune 500 company. The coursework will include in-class debates, developing (and challenging) points of view on current advertising, and a team project which will involve developing consumer insights, advertising strategy and ides, and a media approach for a major Kellogg Company brand.
 
 
MKT 623 Service Marketing Management
  1.5 hours Elective Terms Offered: W13(A), W14(A)
  Advisory Prerequisites: MKT 501/503/591 
   
  Service Marketing Management --- The purpose of this course is to provide you with a thorough understanding of the role of services in marketing strategy and competition and how these issues guide the management of service operations. This includes an understanding of the evolution of management thought, the service customer and experience, the service operation, service employees, and alternative service strategies. We begin by describing the service economy and different strategies for service competition. The course is then structured around Gustafsson and Johnson?s (2003) framework for creating a competitive service advantage. The framework emphasizes the need to build a service culture, stay focused on a market segment, and link activities to create a competitive service advantage. We then systematically explore three integrated processes for implementing the framework: (1) service maintenance, (2) improving service performance, and (3) service innovation. We?ll explore how both traditional service-retail firms as well as business-to-business firms strive to create an effective service strategy and competitive advantage by linking activities to provide solutions to customer problems. Companies featured in the cases, lectures and readings include Continental Airlines, Disney, Dell Computers, the Dow Chemical Company, Four Seasons Hotels and Resorts, General Electric Aircraft Engines, IKEA, Northwest Airlines, Ritz-Carlton Hotels, and the United States Marine Corps.
 
 
MKT 624 Co-Creation of Value
  3 hours Elective Terms Offered: S13, S14, W13, W14
  Cross-listed with: STRATEGY 624 
   
  Co-Creation of Value --- Thanks to the Internet, and the structural forces
of digitization, ubiquitous connectivity, globalization, social networking, and new communications and information modalities, interactions between individuals everywhere in the system have exploded on a scale and scope as never before. Providers are challenged by the fact that their recipients are increasingly informed, connected, networked and empowered. Armed with access to new information and
communications technologies, individuals are demanding a higher quality of interactions, and are even prepared to insert themselves into the firm's value chain to co-create mutually valuable experiences. The goal of this course is to expose you to an "expanded" paradigm of value creation that leading companies all over the world are embracing. Companies are innovating new engagement platforms and environments of experiences that facilitate customer interactions with a company's products, processes, employees, as well as customer communities, to
co-create mutual value. We will discuss how you can help organizations shift their thinking and practices towards co-creation and help build new management processes and organizational capabilities for co-creating value.
 
 
MKT 625 New Product and Innovation Management
  2.25 hours Elective Terms Offered: W13(A), W14(A)
  Advisory Prerequisites: MKT 501 or 503 
  Cross-listed with: ES 605 
   
  New Product and Innovation Management --- Innovation and development of new products and services are essential for the success of any organization. At the same time, designing and launching new products is risky. Managing the new product development therefore involves identifying new product ideas that have great potential and lowering the risk of their failure. This course discusses the stages in the new product development process and avenues for making the process more productive. Specific topics covered include creative techniques for idea generation, designing new products and services using analytical techniques, sales forecasting, testing, and tactics and strategies for new product launch. The course uses lectures, cases, and outside speakers. Moreover, the course includes a project wherein student teams will use the creativity techniques covered in this class to come up with new product ideas and perform a concept test in order to evaluate their feasibility. The course has a quantitative focus and delves on issues that are very relevant to managers on a day to day basis. The course will be especially useful for those interested in product/brand management, management consulting, and entrepreneurship.
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MKT 627 Leveraging Industrial Design for Marketing Advantage
  1.5 hours Elective Terms Offered: F13(A)
   
  Leveraging Industrial Design for Marketing Advantage --- Industrial Design is becoming increasingly important for brand-building and marketing purposes (examples: Apple, SONY, Samsung). Through a mixture of Lectures, mini-Cases, Guest Speakers and Exercises, this 6-week course will expose students to the principles of good industrial design as harnessed for marketing purposes, and teach them how to work effectively with industrial designers inside or outside their own firms.
 
 
MKT 630 Marketing Engineering
  2.25 hours Elective Terms Offered: W13(B), W14(B)
  Advisory Prerequisites: MKT 501/503/591 
   
  Marketing Engineering --- The structure and content of those employed in marketing is rapidly changing due to vast increases in desktop computer power and exploding volumes of marketing data. Professions such as marketing manager, account manager, market researcher and Marketing (research) consultant are evolving rapidly in the new technology intense marketing environment. New approaches to marketing are heavily dependent upon analytical tools, and the effectiveness of the new use of those tools depends on the knowledge and skills of the users. The new marketing looks like marketing engineering and is in need of people with marketing engineering skills. This course develops those skills.
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MKT 640 Global Supply Chain Management
  3 hours Elective Terms Offered: F13, W13, F14, W14
  Advisory Prerequisites: TO 551/552 
  Cross-listed with: TO 620 
   
  Global Supply Chain Management --- This course aims to develop an understanding of key devices of supply chain performance and their interrelationship with firm strategy. Special emphasis is given to tools and skills necessary to develop solutions for a variety of supply chain design problems and inter-firm and intra-firm coordination issues.
 
 
MKT 750 Independent Study Project
  1 - 3 hours Elective Terms Offered: S13, P14, M13, S14, F13, P13, W13, F14, W14, M14
  Advisory Prerequisites: Graduate standing. 
   
  Independent Study Project --- Independent study projects, supervised by faculty, are available to graduate business students in good academic standing. To select a project, students should consult the appropriate professor about the nature of the project and the number of credit hours the work would earn. Students earn one to three credit hours per project and may elect only one study project in a term. Graduate business students should consult their program bulletins for information
regarding total number of projects and credits that can be applied to their degree. To register for a project students must submit an approved Independent Study Project application, available online.