Presentation on theme: "1 MKTG 504 - CASES IN MARKETING Dr. Dennis Pitta University of Baltimore."— Presentation transcript:
1 MKTG 504 - CASES IN MARKETING Dr. Dennis Pitta University of Baltimore
2 Differences between case and lecture methods In the case method: Students take a more active role The situation seems more realistic
3 A case is: "typically a record of a business issue which actually has been faced by business executives, together with surrounding facts, opinions, and prejudices upon which the executives had to depend. These real and particularized cases are presented to students for considered analysis, open discussion, and final decision as to the type of action which should be taken." Charles I. Gragg, "Because Wisdom Can't be Told," Harvard Alumni Bulletin, October 19, 1940.
4 What is important in the case method zThe PROCESS of arriving at an answer! zIncreasing skills in decision making. zBolstering analysis with decision support. zClarifying communication with experience. zTeam skills
5 Problems to conquer zLimited information zTotal responsibility for decision zDefense of solution against all criticism
6 What does the chart mean? What conclusions can you draw about the % of consumers mislead by a company's advertising campaign?
7 People - Managers differ in their perceptions Often the same data will hold different meanings to different managers.
8 Defending an Analysis Communication skills are vital Conflict serves a purpose Dress rehearsal is also vital
9 Conflict Serves as a vehicle for reality If resolved, can lead to a better solution Harmony can actually be detrimental to success
10 Conflict Resolution and Quality zWhen opinions differ the reasons may be: yAn overlooked piece of information ySome factors weighted differently
11 Conflict Resolution and Quality zResolving the conflict forces: ya reconsideration of assumptions ya clearer perception of problems ya recognition of conflicting interpretations of facts ya greater awareness of managerial complexities
12 Case Analysis Procedure zInitially, read the case quickly. yGoal is to gain a feel for: xthe type of problem presented in the case, xthe type of organization involved, xetc.
14 Case Analysis Procedure - contd zNext, read the case thoroughly to learn all the facts. zAs part of the process of mastering the facts - perhaps numerical data for calculation and comparisons. zComparisons can highlight differences!
15 Complete case analysis may require a number of readings
16 Facts do not tell the whole story zYou may wish to make reasonable ASSUMPTIONS.
17 Situation One: You are a Scotland Yard detective searching for an international assassin who lives in the UK. Your team enters his residence and finds his UK passport - but he is gone. What do you assume?
18 Situation Two: You are a sales manager who has just hired a new male salesperson who has also just been married. Over the next four months, you notice that the new salesperson has put on weight. What do you assume?
19 Situation Three: You are a manager who has responsibility for getting new customers to your restaurant. You notice that patronage declined after you hired a new chef. What do you assume?
20 Why ASSUMPTIONS? zReal life managers rarely have perfect information. zOften the link between fact and implication can be made clearly. ye.g. Raising prices of commodities often results in lower sales. zSometimes the low level of information available in the real world is unbelievable.
21 Conclusion: An ability to make well-reasoned assumptions to form the basis of well-reasoned decisions is a vital managerial skill.
22 Another situation: You come home after a grueling day at work, your spouse greets you in a somewhat curt way. You ask what is wrong. The reply is ABSOLUTELY NOTHING!! What is the problem?
23 After mastering the facts: zIdentify and specify the ISSUES and PROBLEMS requiring attention. zIssues can be very obscure. zProblems are causes but are often not seen. Symptoms are usually visible.
24 Learning to separate symptoms and problems zProblems are usually under the surface. zSymptoms are usually visible
26 Typical Case Problem Characteristics zOften a number of subproblems
27 Next, identify alternative courses of action zUsually there are a number of courses of action. zAvoid locking into one too quickly - another may be better.
28 Evaluate each alternative plan of action. zRequires juggling all facts and assumptions. zAlso - quantitative and qualitative pieces. zThink of the implications of each action.
29 Choosing an Alternative zThorough analysis is vital! zA number of alternatives may 'work,' but the best solution will be optimal given all the constraints.
30 IMPLEMENTATION!!! zChoosing a strategy is fine, but it must be implemented. zGive careful consideration to how - and how well - this change can be accomplished. Choosing a strategy is fine, but it must be implemented. zGive careful consideration to how - and how well - this change can be accomplished.
31 In your analyses: zAvoid rehashing facts! zInterpret the facts and use them for your analysis. zRequires a great deal of time and effort zthe payoff: great skills.