Strategic Marketing Management
Dates: September 30 - October 1, 2013
Location: NYU Stern, 44 W. 4th Street, New York, NY 10012
Tuition: $2,800 (accommodation not included)
Program Description: Strategic marketing is the decision-making process of risking and allocating scarce company resources in the search for a competitive advantage in the marketplace. The steps are well known: analyze where your customers, competitors and company are today; determine where you want them to be tomorrow; develop a plan for getting there; and then implement it. It all sounds so simple. But in the heat of the day-to-day battle to get and keep customers, there are constant pressures on managers to deviate from, if not completely forget, those carefully formulated strategies. Customers want you to add “just one little feature” to your product. The sales-force wants you to lower the price to match competition “so we can sell more”. A company in Brazil wants to buy five hundred units next week—while you hadn’t planned on entering South America for two more years. Even the most seasoned marketing manager can fall off the strategic road.
This program focuses on developing and implementing marketing strategies. We will use lectures, case studies, group exercises and classroom discussion to develop the foundations of strategic marketing—new product development, branding and resource allocation (budgeting). This will be an intensive and highly interactive course. A major source of value delivered during the program comes from the broad experiences of the participants so you will be expected to question, argue and discuss everything that is presented. A sense of humor would also be greatly appreciated.
Four principles drive the program content:
- The fundamental basis of success in marketing is focus. Unlike managing financial risk, marketing risk cannot be diversified away. The more a company tries to do (more products, more markets, etc.) the more difficult it becomes to remain competitive in each specific arena.
- Successful marketing is about having a long-term plan and implementing it well. "Good" short-term tactics can't save a bad or non-existent long-term strategy, but they can destroy a good strategic plan. A company must know where they are, where they want to go, develop a plan for getting there, and then implement the plan well.
- Strategic marketing is about resource allocation. Will the market respond better to price discounts, additional distribution channels, product improvements or communication activities? Where and how should a company's limited marketing resources be spent to gain a competitive advantage?
- Everything in marketing is relative. How well a company meets customer needs is relative to what the customer wants. The effectiveness of a company's marketing expenditures is relative to competitor's actions and resources. The choice of segments and product development for a company must be made relative to alternative market opportunities.
Who Should Attend:
- Managers and executives who have responsibility for brand management
- Managers and marketing teams with responsibility for new product development
- Finance and marketing executives with marketing planning and budget responsibility
During this program participants will:
- Build management skills in marketing and competitive strategy decision making
- Learn an analytical framework for creating marketing strategies
- Improve branding efforts with a focus on better understanding how to use digital tools
- Develop insights into new product development
- Increase returns on marketing investments through better allocation of marketing resources
- Jeffrey Carr, Associate Professor of Marketing and Entrepreneurship and Executive Director of the Berkley Center for Entrepreneurial Studies, has been on the faculty of the New York University Stern School of Business for 15 years where he teaches Strategic Marketing, International Marketing and Marketing Management courses in the M.B.A. and Executive M.B.A. programs and a Venture Planning Practicum for Undergraduate students.
- Michelle Greenwald joined New York University Stern School of Business as an Adjunct Associate Professor. Professor Greenwald is a graduate of the University of Pennsylvania and the Kellogg Graduate School of Management at Northwestern. She worked for 19 years at large, multinational companies including Pepsi-Cola, Nestle, Disney, General Foods and J. Walter Thompson. She was a Senior Vice President of New Business Development at Disney, and a Vice President and General Manager of a new product group at Pepsi. In 1988, she was selected by Advertising Age magazine as one of the “Hundred Best and Brightest Women in Advertising and Marketing in the U.S.” Since 2000, she has taught a variety of marketing courses at Columbia University’s Graduate School of Business, NYU Stern, Wharton, IESE in Barcelona Spain and HEC Paris. Professor Greenwald provides marketing consulting to prominent firms and gives seminars for the American Marketing Association, the Association of National Advertisers and the Promotion Marketing Association. She has written teaching cases for McGraw Hill’s Advertising & Promotion textbook, and the Ford Foundation.
- Luke Williams is an internationally recognized authority on Innovation Leadership. He is a Fellow at frog design, one of the world's most influential innovation companies, and Adjunct Professor of Innovation at NYU’s Stern School of Business. He has worked with industry leaders like American Express, GE, Sony, Crocs, Virgin, Disney, and Hewlett-Packard, to create breakthrough product, service and business model solutions. Williams has been invited to speak worldwide, and his views have been featured in BusinessWeek, Fast Company, The Atlantic, and The Wall Street Journal. He is the author of Disrupt: Think the Unthinkable to Spark Transformation in Your Business (FT Press, 2011).