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MGMT E-6020

MGMT E-6020. Session One. Tonight ’ s Agenda. Introductions Course Grading Defining Services The Role of Marketing Prep for Class 2. 2. Contact Info. Carol Stuckey Preferred contact method: email to carolmstuckey@gmail.com Office phone: 617-998-8533 Office hours, by appointment. 3.

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MGMT E-6020

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  1. MGMT E-6020 Session One

  2. Tonight’s Agenda Introductions Course Grading Defining Services The Role of Marketing Prep for Class 2 2

  3. Contact Info Carol Stuckey Preferred contact method: email to carolmstuckey@gmail.com Office phone: 617-998-8533 Office hours, by appointment 3

  4. What is the Division of Continuing Education? Harvard University Law School Faculty of Arts & Sciences The “College” Business School Division of Continuing Education ~170 Employees Extension School Summer School 4

  5. Who are you? Nearly all are degree candidates International experience Most have at least a little bit of marketing experience IT/software industry, health care, education Many are interested in starting own businesses 5

  6. Course Materials • Cases and articles: • Harvard Business Publishing website: • http://cb.hbsp.harvard.edu/cb/access/9664080 • Course website: • http://isites.harvard.edu/k81392 • Twitter: • Me: stuckeycm • Tag posts with #mgmt6020 Textbook: 6

  7. Course Components 7

  8. Class Participation – 15% Questions to ask yourself: Did I contribute something meaningful to the discussion in nearly every class? Was I an active participant during in-class exercises and group work? Did I contribute often to the discussion forums on the course website? Did I attend nearly every class, arriving on time and staying through the duration of class? Note: I will drop the two lowest class participation scores. Therefore, you may miss two classes without penalty. 8

  9. Short Assignments – 30% 3 short writing assignments, lowest score dropped Designed to help you prepare for class discussion Make a logical case for your opinion and back it up with case facts 70% of grade will be based on your answer, structure of your argument, coherence of your answer 30% will be based on professionalism (spelling, grammar, punctuation, format) Double-spaced, 12 pt font Do not exceed page range Turn in to electronic dropbox before class 9

  10. Mid-Term and Final Mid-Term: 25% Individual “take home” exam in the form of a case analysis Case distributed in class Oct 3, due at start of class on Oct 17 Final project: 30% Self-selected groups of 3-4 25-30 page paper accompanied by a group presentation Must be in class on 12/12 and 12/19 10

  11. What are services? Lovelock’s definition on pg. 15 Services are economic activities offered by one party to another Time based performances Bring about desired results Do not normally take ownership of physical elements Service is the core product 11

  12. Lovelock’s Framework

  13. Breadth of industries PersonalCare (hair salon, spa, personal trainer) Financial (tax preparation, financial advisor, insurance) Education (higher education, tutoring services) Travel (cruise, airplane) Healthcare (doctor, surgeon, weight loss centers) Real Estate (buy a house, buy or rent a commercial building) Transportation/Storage (railroad, trucking, self-storage unit, U-haul) Construction Entertainment (movies, performing arts, cable TV, Boston Red Sox, sports) Information (consulting, legal, referral services like Angie’s List or 1-800-Dentist)

  14. What is marketing? Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. American Marketing Association 14

  15. What does a marketing department do? What service(s) should we offer? What price should we charge? How/where should the service be distributed? Who is my target market? How can I reach my target market? 15

  16. Marketing Processes Analyze Situation Formulate Strategy Plan, Organize and Budget Implement Assess Performance 16 Source: What is Marketing? Harvard Business School Note #9-590-007, 1989.

  17. Current Examples • Comcast: http://www.youtube.com/watch?v=CvVp7b5gzqU • Domino’s Pizza: http://www.pizzaturnaround.com/

  18. The 4 P’s of Marketing Mix Product Price Placement Promotion 18

  19. Lovelock’s 7 P’s of Services Marketing Product Price Placement Promotion Process Physical Environment People 19

  20. Marketing Implications of Common Differences Between Services and Goods Most service products cannot be inventoried Intangible elements usually dominate value creation Services are often difficult to visualize and understand Customers may be involved in co-production People may be part of the service experience Operational inputs and outputs tend to vary more widely The time factor often assumes great importance Distribution may take place through nonphysical channels 20

  21. For Session 2: No class next Monday (Labor Day) Read Ch. 2, pages 36-55 Read Starbucks case (in textbook) Written assignment due at the beginning of class to electronic dropbox– see syllabus for questions to answer Bring your textbook to class 21

  22. Preparing for Case Discussions • Optional, read Learning by the Case Method added to HBP website. • Skim the case to gain a broad understanding. Then, read it carefully. • Identify the key issues and considerations. • Do any relevant qualitative and quantitative analysis. Pay attention to exhibits. • Confine yourself to the time period in which the case is set (2002 for Starbucks) • Develop recommendations, supported by your analysis. 22

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