ENT4500 Value creation through marketing Course description

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.

The course will be taught in Norwegian if attended by only Norwegian speaking students.

None

After completing the course, the student should have the following overall learning outcomes defined in terms of knowledge, skills and general competence:

Knowledge

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
• the contents of the marketing plan
• market segmentation, target marketing, and positioning strategies
• the marketing mix concept for products, services, and ideas

Skills

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 for both company and customers
• put together their own business and marketing plans that articulate and apply financial, operational, organizational, market, and sales knowledge
• 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

General competence

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 different ways of thinking, experience, and skills
• identify and evaluate social, cultural, global, ethical, and environmental responsibilities and issues
• demonstrate skills in time management

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.

Practical learning activities will include the use of a marketing simulation.

The following coursework requirements must have been approved in order for the student to take the exam:

• Coursework 1: Preliminary outline and in-class presentation of the strategic sections (G and S sections, including Executive summary and Situation Overview, from the G-STIC outline in the textbook) of the Marketing plan that students will be submitting for the group-project part of the exam for this course. The presentation shall be maximum 15 minutes. The objective of this work requirement is to ensure that each student group has satisfactory progress toward delivering a complete marketing plan for their chosen project. The work requirement contributes to several key learning outcomes such as knowledge and skills necessary to use analytical frameworks and tools used to understand customers' needs and to solve marketing problems, and more general competencies such as learning to identify, define, and analyze problems - and create solutions.
• Coursework 2: Individual reflection paper from marketing simulation exercise of maximum 800 words. In the individual reflection paper the students are required to discuss whether the learning outcomes from the marketing simulation are relevant to their work with their chosen company's marketing plan. The objective of this work requirement is to ensure that students reflect on important learning outcomes such as putting together their own business and marketing plans that articulate and apply financial, operational, organizational, market, and sales knowledge to identify paths to value creation. To carry out the marketing simulation exercise the students must individually purchase a license. Students who do purchase a license will be given alternative coursework requirement by the teacher.

The students can hand in their coursework in Norwegian or in English.

All required coursework must be completed and approved by the given deadline before the student may take the exam. If the coursework requirement is not approved, the student will be given one opportunity to submit an improved version within an extended deadline.

The exam in the course consists of two parts:

• Group project - counts toward 40% of the final grade

A complete marketing plan for a self-selected company (following the G-STIC outline, including Executive Summary and Situation analysis, from the SMM textbook). The marketing plan is written in groups of 2-5 students.

Maximum 10 pages (not including table of contents or references)

Font and font size: Arial or Calibri, 12 points. Line spacing: 1.5.

• Individual 5-hour written (digital) school exam - counts toward 60% of the final grade

All printed and written material allowed.

The students can write their exams in Norwegian or in English.

Both exams must be passed in order to pass the course.

If a student has to resit the exam, the student can retake each part separately. It is not necessary to take both parts.

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.

Jakob Utgård