ISS 5095-0

Brief

Marketing strategies aim to increase both customer and firm value. Examples of customer value are customer satisfaction, customer experience, and consumer well-being. Examples of firm value are revenues/sales and Tobin’s q. However, the business environment is complicated and dynamic. Thus, developing proper and effective marketing strategies is challenging. The scope of marketing strategies is extensive, which could not be completely covered in one course. This course will focus on the B2C (business to consumer) market, particularly in customer management and multi-channel management. Customer management aims to understand/connect customers and create value to customers, which hopefully subsequently improves firm value. In addition, while firms nowadays use different channels (e.g., offline and digital) to reach customers, understanding effective multi-channel management is critical to increase firms’ value.

Description

Course keywords: Marketing strategy, customer management, multi-channel management, customer value, firm value, consumer well-being ISS5095: Marketing Strategies Customer management & multi-channel management COURSE DEscriptION Marketing strategies aim to increase both customer and firm value. Examples of customer value are customer satisfaction, customer loyalty, customer engagement, customer experience, and consumer well-being. Examples of firm value are revenues/sales, profits, customer lifetime value (CLV), and Tobin’s q. However, the business environment is complicated and dynamic. Thus, developing proper and effective marketing strategies is challenging. Also, decisions on strategies should be based on not only managers’ practical experiences, but empirical evidence (i.e., data analyses). The course will provide insight into the selection of proper and effective marketing strategies and how to collect empirical evidence. The scope of marketing strategies is extensive, which could not be completely covered in one course. This course will focus on the B2C (business to consumer) market, particularly in customer management and multi-channel management. Customer management aims to understand/connect customers and create value to customers, which hopefully subsequently improves firm value. In addition, while firms nowadays use different channels (e.g., offline and digital) to reach customers, understanding effective multi-channel management is critical to increase firms’ value. In the course, we will cover a bit “empirical evidence” mentioned above. That is, to achieve marketing objectives, we will discuss what data and analytical methods could be considered. COURSE GOALS The goal of the course provides an overall understanding of marketing strategies in customer management and multi-channel management from a theoretical perspective and also an empirical perspective. From a theoretical perspective, the students will be able to apply learned theories/strategies to finding proper marketing solutions to specific marketing challenges/opportunities. From an empirical perspective, the students will be able to indicate what data and/or analytical methods managers should use to examine the effectiveness of marketing strategies. Examining effectiveness relies on good data and correct analytical methods, rather than own imaginations. LEARNING MATERIALS R26; Academic articles in marketing (see the weekly reading list below) R26; Note: Academic articles are the main learning materials. I might provide additional articles one week before the class, as the publications are renewed every day. R26; Kotler, P., & Keller, K. (2012). Marketing Management (14th edition). Pearson Education Limited. R26; Note: You could also use the later editions (16th and 15th). The reason of using the 14th edition is that you have a free online access. The textbook aims to provide you a fundamental concept of marketing management. The discussion of the concept is similar among different editions. This is why using different editions does not matter for the course. The course will not cover every bit of this textbook in detail. However, I would encourage you to read through this textbook as self-learning, particularly if you are new to marketing. Q95; COURSE EVALUATION R26; Class attendance and engagement in class discussions: 15%, 10%? R26; Midterm individual exam (open book): 50% R26; Final-term group presentation: 35%, 40%? Note: Attendance You will see the number of "sick leave", "absence", and "late arrival or early leave (more than 30 minutes)". I do not mark down "sick leave", but more than one sick leave would need evidence. I do not mark down "absence" if you informed me of it before the class. However, more than one informed absence would need convincing reasons. I tolerate one late or one early. Other than this, one absence would have 6 points down (100/16 weeks=~6). One late or one early would have 3 points down. Note: Engagement: You will see the number of your engagement in classes (e.g., answering/ asking questions). Below is an example of how engagement scores are calculated. The baseline engagement score is 80 for everyone. Given that the average number of the individual engagement is 10, the deviation from 10 is the consequence of marking up or down the score. 0 time: 0 point 1-2 times: 5 points 3-5 times: 10 points 6-7 times: 15 points 8+ times: 20 points Note: Peer evaluation To fairly assess each member’s participation and involvement, there will be peer evaluation. The result of peer evaluation has the impact on group work’s marks. Peer evaluation is applied to group work, including the in-class group discussions and the final-term group presentations. I will announce the peer evaluation process during the course. TARGET STUDENTS R26; Open to only graduate students. R26; Prerequisites R26; Have knowledge of marketing basics, such as STP, 4Ps, and customer metrics. R26; Have knowledge and experience of empirical methods, such as regressions. R26; Having the two prerequisites is crucial for your own benefits to follow the course. If you lack the two or one of the prerequisites and intend to attend the course, additional learning outside the class is necessary. Q95; COURSE PLANNING Week Date Topic 1 Feb. 22 Introduction of the course Case: Walmart, Nordstrom, TESCO, & The Ritz Carlton 2 Feb. 29 R26; Relationship marketing R26; How to do marketing during economic recessions 3 Mar. 7 R26; CSR (corporate social responsibility) R26; Loyalty programs Case: NIKE 4 Mar. 14 Celebrities and influencers 5 Mar. 21 Sponsorships Case: Facebook 6 Mar. 28 R26; Social media R26; (digital) WoM (word of mouth) Case: Louis Vuitton 7 Apr. 11 R26; Luxury brands R26; How to deal with counterfeits R26; Briefing for the mid-term exam 8 Apr. 18 Midterm individual exam 9 Apr. 25 Marketing is not only about profits: consumer well-being by nudges (1) 10 May 2 Marketing is not only about profits: consumer well-being in healthy choices (2) 11 May 9 Marketing is not only about profits: consumer well-being for a better world (3) 12 May 16 Multi-channel management 13 May 23 Better understanding of paid, owned, and earned media 14 May 30 Meeting in groups: Answer questions regarding group presentations 15 Jun. 6 Group presentations (3 groups) Submit peer evaluation results (for groups who present on June 6) 16 Jun. 13 Group presentations (3 groups) Submit peer evaluation results (for groups who present on June 13) Q95;

Timetable

Scores

Average Percentage 86.86

Std. Deviation 4.94

Remarks

本課程為16週課程16 weeks class

Restrictions

排除大學部

Compulsory

Elective

Cross Discipline

First Specialization

Second Specialization