Fundamentally, marketing is the demand side of
the business enterprise. In other words, marketing professionals
are responsible for identifying, capturing, maintaining, and managing
demand for an organization’s goods and services. And marketing
is much more – it is a business philosophy that guides the
entire organization toward the goal of creating profitable, long-term
relationships with important customers through superior value delivery.
The marketing sessions in the Professional MBA Program
introduce the material necessary to understand an organization from
the customer’s perspective and to use that understanding to
create a sustainable advantage in today’s competitive environment.
Because a marketing orientation should drive the
organization and is the basis for strategic planning, the program
begins with a focus on marketing. In the first semester, students
are introduced to the Marketing Opportunity Analysis (MOA) and the
Marketing Strategy frameworks that have been developed at the University
of Tennessee. Students conduct the initial analyses in an MOA –
macroenvironmental analysis, product classification, and competitive
intelligence.
In the second semester, students continue to conduct
the analyses in the MOA framework. They are introduced to the concept
of Customer Value Measurement that has been developed by a team
of UT Marketing faculty. Students conduct a Customer Value Measurement
analysis for their organization’s customers as a way of learning
what strategically important customer groups truly value. This customer
learning is then positioned within the context of the critical marketing
strategy elements of segmentation, targeting, and positioning.
In the third and final semester, customer learning
is applied to discussions of both delivering and communicating value
to strategically important customers. New product development, branding
strategies, channel strategies, and pricing issues make up the discussion
of customer value delivery, and Integrated Marketing Communication
(IMC) strategies are presented help students formulate effective
approaches to communicating value to customers. Finally, marketing
– the demand side of the organization – is linked to
the supply side of the company through discussion of demand forecasting
and sales and operation planning approaches used by world-class
companies.
The major learning objectives
1. The student will be able to conduct a macroenvironmental
analysis to determine major forces affecting their market offering.
2. The student will be able to define their market, industry and
competitive set.
3. The student will be able to conduct Customer Value Measurement
interviews and build Customer Value Hierarchies from qualitative
customer data.
4. The student will be able to apply customer knowledge to customer
value delivery strategies and determine the relationship between
customer value and shareholder value.
5. The student will be able to develop customer-driven marketing
strategies to provide competitive advantage using core marketing
concepts such as segmentation, targeting, positioning and marketing
tools (4 P’s).
Topics:
- What is Marketing?
- Marketing Opportunity Analysis
- Customer Value
- Consumer Behavior
- Market Segmentation, Targeting, Positioning
- Channels of Distribution
- Product Strategies
- Pricing Strategies
- Promotion Strategies
- Sales Demand Forecasting
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