Marketing Strategy MAR 4803

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Presentation transcript:

Marketing Strategy MAR 4803 Case Analysis Method Marketing Strategy MAR 4803

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

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

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

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

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

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

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

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

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

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?

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

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

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

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