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Marketing Strategy MAR 4803

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Presentation on theme: "Marketing Strategy MAR 4803"— Presentation transcript:

1 Marketing Strategy MAR 4803
Case Analysis Method Marketing Strategy MAR 4803

2 Case Analysis – A Different Method of Teaching
Students take active role Simulates business environment What’s important?

3 Instructor / Student Responsibilities
Instructor: Moderator Guide discussions “Play devil’s advocate” Student: Business Manager THOROUGHLY READ CASE!! Understand facts Appropriate analysis of facts, opinions, prejudices Make decisions

4 Benefits of Case Method
Process of arriving at a solution is what’s most important Oral and written communication skills Learn to make decisions with limited information Development of critical thinking skills

5 Frustrations! No “single right answer” Limited/equivocal information
Time requirement for analysis Dealing with criticism from others

6 Case Analysis: “Good” vs. “Bad”
Take time to understand facts, situation Ponder data presented in case Reconsider original views when presented with opinions of other class members Differentiate problems from symptoms Analyze, summarize data given in case Rush through case, only read once Blindly accept data given Stick with original views, even when new information emerges Confuse symptoms and problems Rehashing data given in case

7 Steps for Case Analysis
Situation Analysis Determine problems, opportunities Formulate alternative courses of action Analyze, evaluate alternatives Recommend a solution Specify a plan of action Prepare contingency plans

8 Situation Analysis Nature of demand Extent of demand
Nature of competition Environmental climate Stage of product life cycle Cost structure of the industry Skills of the firm Financial resources of the firm Distribution structure

9 Determine Problems, Opportunities
Key problem areas Key opportunities On balance, the situation is…

10 Formulate Alternative Courses of Action
Define objectives Target market Projected sales volume Profit analysis Marketing Mix decisions Product Distribution Promotion Pricing

11 Analyze, Evaluate Alternatives
What are possible alternatives? Limits to possible alternatives (competence, resources, ethical responsibilities) Are alternatives reasonable, logical? Advantages, disadvantages of each alternative Which alternative best solves problems, and creates minimal new problems?

12 Recommend a Solution Judge relative risks, opportunities offered by various alternatives Optimal choice: Best balance between potential profit and cost of failure Make clear-cut decision, avoid “qualifications” and other obvious hedges

13 Specify a Plan of Action
How will decision be implemented? Personnel, other resources involved Likely market reaction

14 Prepare Contingency Plans!
What If… Market does not respond as anticipated? Competitors take unexpected action? Economy differs from forecasts?

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