| |
|
Abstract/Syllabus:
|
Kim, Jin Gyo, 15.835 Entrepreneurial Marketing, Spring 2002. (Massachusetts Institute of Technology: MIT OpenCourseWare), http://ocw.mit.edu (Accessed 11 Jul, 2010). License: Creative Commons BY-NC-SA
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:
-
Marketing Question: What and how am I selling to whom?
-
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:
-
What are major strategic constraints and issues confronted by entrepreneurs today?
-
How can one identify and evaluate marketing opportunities?
-
How do entrepreneurs achieve competitive advantages given limited marketing resources?
-
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.
Syllabus
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.
-
McGrath, R. G., and MacMillan, “Discovery-Driven Planning," Harvard BusinessReview, July-August, 1995 (Reprint No. 95406).
-
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
-
Morgan, H. L., A. Kallianpur, and L. M. Lodish, "Entrepreneurial Marketing," Lessons from Wharton's Pioneering MBA Course, John Wiley & Sons, 2001.
-
Aaker, D. A., Strategic Market Management, John Wiley & Sons, 1998.
-
Written Assignments (30%).
-
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.
-
Contribution to Class Discussions (30%).
Calendar
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 |
|
|
|
Readings:
Barnett, F.W., "Four Steps to Forecast Total Market Demand," HBR, 1988 (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: BizRate.com (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 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
Further Reading:
|
Module 1: Marketing and Entrepreneurship
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
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)
|
| |
|
|
|
|
| |
|
|
|
|
| |
3 |
|
|
|
Guest Speaker: Eric Spitz, Chief Executive Officer of Trakus |
|
|
|
|
| |
|
|
|
|
|
Module 2: Identifying Market Opportunities
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
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).
|
| |
|
|
|
|
| |
|
|
|
|
| |
5 |
|
|
|
Wildfire Communications |
|
|
|
Case: Wildfire Communication Inc. (A) (HBS Case, 9-396-305). |
| |
|
|
|
|
| |
|
|
|
|
| |
6 |
|
|
|
Demand Forecasting |
|
|
|
Readings:
Barnett, F.W., "Four Steps to Forecast Total Market Demand," HBR, 1988 (Reprint No. 88401). |
| |
|
|
|
|
| |
|
|
|
|
| |
7 |
|
|
|
AT&T USA Direct In-Languge Service: In |
|
|
|
Case: AT&T USA Direct In-Language Service, India (HBS, 9-596-013). |
| |
|
|
|
|
|
Module 3: Market Development
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
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. |
| |
|
|
|
|
| |
|
|
|
|
| |
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
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
13 |
|
|
|
Brent Hodgins, Guest Speaker |
|
|
|
Readings:
Joachimsthaler, E., and D.A. Aaker, "Building Brands Without Mass Media," HBR, 1997 (Reprint No. 97107). |
| |
|
|
|
|
| |
|
|
|
|
| |
14 |
|
|
|
Leverage Communication |
|
|
|
Case: WARNET-Lambert Ireland: Niconil (HBS, 9-593-008). |
| |
|
|
|
|
| |
|
|
|
|
| |
15 |
|
|
|
Overcome Market Resistance |
|
|
|
Case: TIVO (HBS case, 5- 501-057). |
| |
|
|
|
|
|
Module 5: Entrepreneurial Pricing Strategy
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
16 |
|
|
|
Pricing Tools I |
|
|
|
Readings:
Dolan, R.J., "How Do You Know When the Price Is Right?" HBR, 1995 (Reprint No.95501). |
| |
|
|
|
|
| |
|
|
|
|
| |
17 |
|
|
|
Pricing Tools II |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
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
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
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
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
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).
|
| |
|
|
|
|
| |
|
|
|
|
| |
22 |
|
|
|
Relationship Marketing and Wrap-Up |
|
|
|
Case: BizRate.com (HBS, 9-501-024). |
| |
|
|
|
|
|
Presentation of Marketing Plans
| |
|
|
|
|
| |
LEC # |
|
|
|
TOPICS |
|
|
|
READINGS |
| |
|
|
|
|
| |
|
|
|
|
| |
23 |
|
|
|
Presentation of Marketing Plans |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
24 |
|
|
|
Presentation of Marketing Plans |
|
|
|
|
| |
|
|
|
|
| |
|
|
|
|
| |
25 |
|
|
|
Presentation of Marketing Plans |
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
Rating:
0 user(s) have rated this courseware
Views:
27207
|
|
|
|
|