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 Entrepreneurial Marketing  posted by  duggu   on 1/21/2008  Add Courseware to favorites Add To Favorites  
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Kim, Jin Gyo, 15.835 Entrepreneurial Marketing, Spring 2002. (Massachusetts Institute of Technology: MIT OpenCourseWare), (Accessed 11 Jul, 2010). License: Creative Commons BY-NC-SA

Themes of the class: entrepreneurial new venture and marketing.

Themes of entrepreneurial marketing. (Diagram by Prof. Jin Gyo Kim.)

Course Highlights

One assignment asks students use of a data analysis program, Blogit, to determine how many markets on which to focus their efforts for the short and long term. Assignment details, software and associated data files are provided.

Course Description

This course clarifies key marketing concepts, methods, and strategic issues relevant for start-up and early-stage entrepreneurs. At this course, there are two major questions:
  1. Marketing Question: What and how am I selling to whom?
  2. New Venture Question: How do I best leverage my limited marketing recourses?

Specifically, this course is designed to give students a broad and deep understanding of such topics as:

  1. What are major strategic constraints and issues confronted by entrepreneurs today?
  2. How can one identify and evaluate marketing opportunities?
  3. How do entrepreneurs achieve competitive advantages given limited marketing resources?
  4. What major marketing/sales tools are most useful in an entrepreneurial setting?

Because there is no universal marketing solution applicable to all entrepreneurial ventures, this course is designed to help students develop a flexible way of thinking about marketing problems in general.

Technical Requirements

File decompression software, such as Winzip or StuffIt , is required to open the .zip files found on this course site.
The .exe files found on this course site are executable programs. Please refer to the course materials for any specific instructions or recommendations.

*Some translations represent previous versions of courses.


Topic Overview
Module 1: Marketing and Entrepreneurship
Module 2: Identifying Market Opportunities
Module 3: Market Development
Module 4: Entrepreneurial Communication Strategy
Module 5: Entrepreneurial Pricing Strategy
Module 6: Entrepreneurial Distribution Strategy
Module 7: Building Customer Relationships
Lectures, reading assignments, cases, class discussions, and invited speakers.
There will be several lectures on quantitative methods to supplement qualitative discussions.
Where necessary, specialized software to aid in such discussions will be distributed to students.
Background Readings
  1. McGrath, R. G., and MacMillan, “Discovery-Driven Planning," Harvard BusinessReview, July-August, 1995 (Reprint No. 95406).
  2. Rich, S. R., and D. E. Gumpert, “How to Write a Winning Business Plan," Harvard Business Review, May-June, 1985 (Reprint No. 85314).
Optional Suggested Readings
  1. Morgan, H. L., A. Kallianpur, and L. M. Lodish, "Entrepreneurial Marketing," Lessons from Wharton's Pioneering MBA Course, John Wiley & Sons, 2001.
  2. Aaker, D. A., Strategic Market Management, John Wiley & Sons, 1998.
  1. Written Assignments (30%).
  2. Comprehensive Marketing Plan (40%): Students will prepare a marketing plan for an entrepreneurial organization of their choice, possibly for a new venture they are considering.
    • Students will be asked form a group for this project
    • Each group should consist of 4 to 5 people.
  3.  Contribution to Class Discussions (30%).


    Module 1: Marketing and Entrepreneurship

      SES #       TOPICS       READINGS     KEY ISSUES
      1       Introduction       Readings:
    McGrath, R.G., and MacMillan, "Discovery-Driven Planning," Harvard Business Review, July-August, 1995 (Reprint No. 95406).

    Block, Z., and I.C. Macmillan, "Milestones for Successful Venture Planning," HBR, 1985 (Reprint No. 85503).
      2       Sustaining Competitive Advantages of New Ventures       Readings:
    Sandberg, K.D., "Rethinking the First-Mover Advantage," Harvard Management Update, 2001 (Reprint No. U0105A).

    Boulding, W., and M. Christen, "First-Mover Disadvantage," Harvard Business Review, 2001 (Reprint No. F0109A).

    Case: The Browser Wars, 1994-1998 (HBS Case 5-700-046)

        Source of competitive advantages of new ventures

    Does there truly exist a first mover advantage?

    Network externality

      3       Guest Speaker: Eric Spitz, Chief Executive Officer of Trakus             Challenges and difficulties in marketing faced by a new venture.

    Module 2: Identifying Market Opportunities

      SES #       TOPICS       READINGS     KEY ISSUES
      4       Market Research       Readings:
    Andreasen, A.R., "Cost-Conscious Marketing Research," HBR, 1983 (Reprint No.83401).

    Almquist, E., and G. Wyner, "Boost Your Marketing ROI with Experimental Design," HBR, 2001 (Reprint No. R0109K).

    Optional: "Questionnaire Design and Development," HBS, (9-590-015).


    Information Sources

    Qualitative/Quantitative Market Research

    Low Budget Or No Budget Market Research

      5       Wildfire Communications       Case: Wildfire Communication Inc. (A), (HBS Case, 9-396-305).      
      6       Demand Forecasting      

    Barnett, F.W., "Four Steps to Forecast Total Market Demand," HBR1988 (Reprint No. 88401).


    What information is required?

    How to forecast sales of a truly innovative product/service

    How to forecast sales of an early entrant to market

    How to forecast sales of a pioneer brand after the market entry of a new competitor

    Survey-based forecasting

    Model-based forecasting

      7       AT&T USA Direct In-Languge Service: India       Case: AT&T USA Direct In-Language Service, India (HBS, 9-596-013).      

    Module 3: Market Development

      SES #       TOPICS       READINGS     KEY ISSUES
      8       Creating a New Market       Case: net.Genesis, Inc. (HBS, 9-500-009).      
      9       Segmentation and Targeting       Case: WaterTest Corporation (HBS case, 9-389-022).      
      10       Product Concept Development       Readings:
    Herstatt and Hippel, "From Experience:Developing New Product Concepts Via the Lead User Method: A Case Study in a Low-Tech Field," Journal of Product Innovation Management, 9, 1992, 213-221.
        Lead user method

    Conjoint method
      11       Focus vs Diversification       Readings:
    Biolos, J., "Why Focus is Vital… and How to Achieve It," Harvard Management Update, 1997.

    Case: CNET 2000 (HBS case, 9-800-284).
      12       Positioning Tools       Readings:
    MacMillan, I.C., and R.G. McGrath, "Discovering New Points of Differentiation," HBR, 1997(Reprint No. 97408).

    "Analyzing Consumer Perceptions," HBS, 9-599-110.

    Module 4: Entrepreneurial Communication Strategy

      SES #       TOPICS       READINGS     KEY ISSUES
      13       Brent Hodgins, Guest Speaker       Readings:
    Joachimsthaler, E., and D.A. Aaker, "Building Brands Without Mass Media," HBR, 1997 (Reprint No. 97107).
        Building a strong brand
      14       Leverage Communication       Case: WARNET-Lambert Ireland: Niconil (HBS, 9-593-008).      
      15       Overcome Market Resistance       Case: TIVO (HBS case, 5- 501-057).     Facilitate the acceptance rate of a new product

    Consumer Education

    Module 5: Entrepreneurial Pricing Strategy

      SES #       TOPICS       READINGS     KEY ISSUES
      16       Pricing Tools I       Readings:
    Dolan, R.J., "How Do You Know When the Price Is Right?" HBR, 1995 (Reprint No.95501).
        How to determine a price for a truly innovative product

    Cost-based pricing vs Value-based pricing

    Behavioral pricing

    How to measure potential buyer’s willingness-to-pay
      17       Pricing Tools II             Bundle pricing

    Segment pricing

    Product-line pricing

    Menu pricing
      18       Market Expansion and Pricing       Readings:
    Dean, J., "Pricing Policies for New Products," HBR, 1976 (Reprint No. 76604).

    Case: Rogers Communications, Inc., The Wave (HBS case, 9-597-050).

    Module 6: Entrepreneurial Distribution Strategy

      SES #       TOPICS       READINGS     KEY ISSUES
      19       Mathsoft (A)       Case: Mathsoft (A) (HBS case, 9-593-094).      
      20       Guest Speaker: Nick Lazaris, CEO of Keurig       Readings:
    Kumar, N., "The Power of Trust in Manufacturer-Retailer Relationships," HBR, 1996 (Reprint No. 87411).

    Case: Keurig (HBS case, 9-899-180).

    Module 7: Building Customer Relationships

      SES #       TOPICS       READINGS     KEY ISSUES
      21       Managing Customers       Readings:
    Pine II, B.J., D. Peppers, and M. Rogers, "Do You Want to Keep Your Customers Forever?" HBR, 1995 (Reprint No. 95209).

    Jones, T.O., and W.E. Sasser, Jr., "Why Satisfied Customers Defect," HBR, 1995 (Reprint No. 95606).
        How To ‘Build’ Loyal Customers

    How to manage customer satisfaction
      22       Relationship Marketing and Wrap-Up       Case: (HBS, 9-501-024).      

    Presentation of Marketing Plans

      SES #       TOPICS       READINGS     KEY ISSUES
      23       Presentation of Marketing Plans              
      24       Presentation of Marketing Plans              
      25       Presentation of Marketing Plans              

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