Studieinfo emne ENT4500 2022 HØST
ENT4500 Value creation through marketing Emneplan
The objectives of this course are to expose the student to the problems commonly faced by entrepreneurs and to develop skills in analyzing marketing opportunities and preparing implementable plans of action based on analyses of given business situations. The student will learn how businesses and organizations create value for customers or users. Furthermore, the student will learn the key elements of the marketing mix – product policy, channels of distribution, communication, and pricing – and see how they fit within different analytical frameworks that are useful to entrepreneurs. This will enhance their understanding of how marketing works in the business and non-business world.
Cases and a marketing simulation are used to focus the discussion and to reinforce learning of key marketing concepts. The course aims to produce critical, reflective marketers and emphasizes the integration of theory and practice with the skills and knowledge required to follow a product or service from idea to realization.
After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:
The student has in-depth knowledge of
key marketing theories
key analytical frameworks and tools used to understand customers' needs and to solve marketing problems
market segmentation, target marketing, and positioning strategies
the marketing mix concept for products, services, and ideas
The student is able to
utilize information about a firm’s external and internal marketing environment to identify and prioritize appropriate marketing strategies
develop products and services to solve challenging problems in a highly uncertain environment, often under considerable time constraints with limited resources
analyze buyer/user behavior to create value
put together their own business and marketing plans that articulate and apply financial, operational, organizational, market, and sales knowledge to identify paths to value creation through: 1) company formation (for-profit); 2) social innovation (non-profit); or 3) intellectual property licensing
use pricing strategies to enhance marketing of products and services
use distribution channels to market an organization’s products and services effectively
understand how organizations use integrated marketing communication to support their marketing strategies
evaluate and act upon the ethical and environmental concerns linked to marketing activities
The student is able to
identify, define, and analyze problems and create solutions
critically assess existing understanding and recognize the need to regularly challenge all knowledge
identify and apply new ideas, methods, and ways of thinking
respond effectively to unfamiliar problems in unfamiliar contexts
advance reasoned and factually supported arguments effectively in written work and oral presentation
work effectively with others, capitalizing on their different thinking, experience, and skills
identify and evaluate social, cultural, global, ethical, and environmental responsibilities and issues
demonstrate skills in time management
Arbeids- og undervisningsformer
The course consists of lectures, where the student actively participates in group work, and case discussions. The student will acquire a reflective attitude towards marketing tools through working independently on different marketing problems and settings. The practical work takes place in the form of two case seminars.
Prior to the first seminar, the student must submit at framework for a marketing plan based on his/her own innovation/entrepreneurial idea. Feedback from the seminar leader is given in the first seminar.
Prior to the second seminar, the student must submit a reworked marketing plan and read the first draft of marketing plans of two fellow student groups. During the second seminar, the student must provide written and oral opponent feedback on the marketing plans.
Arbeidskrav og obligatoriske aktiviteter
The following coursework requirement must be approved before the student may take the exam:
Individual reflection paper from marketing simulation exercise (max 800 words).
This is an individual assignement where the student is required to discuss whether the learning outcomes from the marketing simulation are relevant to your work on your chosen company's marketing plan:
1. Describe what you perceive to be the learning outcomes
2. Discuss whether these outcomes are relevant to your own work - why/why not?
The reflection paper must be submitted nor later than 1 week after the simulation exercise is completed.
All required coursework must be completed and approved by the given deadline before the student may take the exam. If the coursework requirement has not been approved, the student will be given one opportunity to submit an improved version by the given deadline.
Vurdering og eksamen
The exam in the course is a complete marketing plan for your chosen company (following outline from the SMM textbook) with a scope of maximum 10 pages. The marketing plan will be written in groups of 2-5 students. The marketing plan should include: Executive Summary, Situation Overview, Goal, Strategy (Target Market, Value Proposition - Customer Value, Collaborator Value, Company Value), Control.
Font and font size: Arial or Calibri, 12 points. Line spacing: 1.5.
Students awarded a fail grade are given one opportunity to submit an improved version of the marketing plan for assessment.
Hjelpemidler ved eksamen
All aids are permitted as long as the rules for source referencing are complied with.
Grade scale A–F.
The exam papers are assessed by one internal and one external examiner.
At least 25 per cent of the exam paper is assessed by two examiners. The grades awarded for the papers assessed by two examiners form the basis for determining the level for all the exam papers. The external examiner will also assess papers where there is doubt about awarding a grade.