LSM521 Essentials of Marketing Strategy
Learn about the role marketing plays within an organization, some ethical questions that surround marketing practices, the impact that a strategic approach can have on marketing within your organization, and the components of a well-defined marketing strategy and overall business strategy. In defining how the organization will successfully engage customers, prospects and competitors in the market arena, you will discover how to think strategically about the market you’re in, why you’re in that market, and what you’re trying to accomplish in that market. You’ll also gain a strategic view of your organization’s “brand.”
LSM522 Applied Marketing Strategy and Decision-Making Tools
Strategic marketing decisions are informed by data, and that data is best reviewed through a framework. But because different frameworks provide value to the marketing decision maker, you will review and learn how to use best practices for varying data sets. Through these strategic tools, you will apply the core marketing concepts of segmentation, targeting and positioning to a product or service. You will then explore the strategic role of pricing and methods for influencing buying decisions. You will also address common pricing errors and identify instances of pricing mistakes in the market.
LSM523 Marketing Research and Analysis
Learn how to be an intelligent consumer of information when it comes to marketing research and analysis, so you can become a more effective decision maker. You will first look at marketing research, including the purpose and goals of research, how to balance the ideal with reality in doing research, and how to apply the six stages of research to a marketing situation.Next you will examine different ways to analyze the data acquired through marketing research. Using formulas to determine how cannibalization affects the profitability of new products and the value of a long-term customer, you will perform a basic sensitivity analysis to assess the robustness of your results.
LSM524 Creating and Communicating the Value of Your Brand
Examine the concept of branding through a strategic lens to understand why brands are so valuable, and explore the many factors that contribute to that value. You’ll learn that creating a memorable brand takes much more than just developing a strong image. Through the concept of brand equity, you will explore the various aspects of a brand’s success that are created internally, and influenced externally by consumers. You will evaluate the value brands provide to both the firm and the consumer, and identify the qualities that create an effective brand image. Real-world examples will illustrate how marketing communication tools and techniques that can be used to build brand equity.
LSM525 Introducing New Products: Successes and Failures
Examine the psychological and sociological systems in which customers choose whether to adopt new products and services, and how the product lifecycle is connected to new-product diffusion. You will apply the concept of a marketing continuum to develop an effective marketing program, leverage an understanding of social systems to improve new product diffusion, and develop strategies to increase product adoption and sales.
LSM526 Distribution Strategy and International Marketing
Channel function, design and strategy will all be explored and applied to real-life cases. You will define marketing channels and learn how to leverage them to deliver messaging to potential consumers. Finally, you will dive into the world of international marketing and distribution through the use of channel expansion strategies. Discover the nuances of global markets, recognizing and identifying the types of global organizations and exploring the pros and cons of globalization.
SHA548 Social and New Media Marketing
Receive sound marketing concepts and advice from industry experts and you receive actual experience with new media in exercises and simulations. You’ll then apply what you have learned with a hands-on project based on your existing marketing efforts. Your finished project is an action plan for managing your brand in the social-media space. See first-hand how implementing new media can help you deliver on your firm’s “brand promise,” enabling you to deal with market uncertainties and guide your organization toward sustained profitability.