Strategic Marketing & Product Management

Strategic Marketing & Product Management
Strategic Marketing & Product Management

The subject is lectured in these programmes:

SYLLABUS FOR THE MARKETING MANAGEMENT AND INTERNATIONAL BUSINESS PROGRAMME

  • Study module name: Strategic Marketing & Product Management
  • Lecturer: Dr. Kester Osahenye
  • Final check of studies: Written assignment

Aim of the MBA study module:
Know the concepts associated with a new product development process, be able to make an argument about why such a process is important, understand what can cause deviations from this process, and anticipate the activities in each stage for different industries. Adopt marketing and product concept theories to generate creative new product concepts consistent with a new products strategy statement. Know the key questions to ask in evaluating a product concept and how to answer those questions. The course would help students gain skills and knowledge to plan for a product launch, Product management including persuasively arguing for a pricing strategy, identifying channels of distribution, and critiquing product names.
This MBA course that covers the principles and theory of new product development, in the context of marketing and marketing management. These principles and theory will then be used to address new product development opportunities in a variety of contexts.  This class is extremely valuable for learning, understanding, and improving product development skills; the mastery of these skills is important and is applicable in virtually all professional settings. Students completing this course will have an understanding of the methods, procedures, and tools available for senior managers in building, sustaining and improving their product portfolios and the equity of their various brands. I would suggest that every student who takes this course will use knowledge gained from it every day of the rest of his/her life.

Content of the MBA study module:
The content focuses on both the theoretical and the practical.  Strategic planning, development and launch of new products and the management of brands from a marketing manager’s perspective are included in the material. The course content is marketing strategy, with emphasis on the role of products development in a firm's ability to achieve competitive advantage.  The course would exhaustively discuss Product Strategies, Pricing Strategies, Distribution Strategies and Promotion Strategies. Upon completion of the course, the MBA students will have a working knowledge of the product development process (learning outcome = “describe, define, and identify new product development principles”), will understand the tools and skills involved in new product development (learning outcome = “demonstrate and apply these tools and skills”), and will be able to evaluate these development efforts (learning outcome = “assess and choose appropriate efforts”).

  • Chapter 1: Introduction - The New Product Development Process
    Course overview, The Role of the Product Manager, strategies for Product Management and Product Life Cycle.
  • Chapter 2: Four Cs of product management
    Macro-environment - Customers, Competitors, Collaborators, Company.
  • Chapter 3: Building a Strategy for a fast changing business Environment
    Short content of the chapter (usually 5-6 sentences): Setting a product Mission Statement that fits different markets and industry using Theoretical frameworks: PEST, Porters 5 Forces & SWOT.
  • Chapter 4: Empirical Competitive Analysis
    Role of competition in strategy settings, Competing through Innovation, Introducing and Naming New Products and Brand Extensions.
  • Chapter 5: 360 degrees of Products Management
    Cross or multi-functional management of products: R&D, Sales, Finance Department, CRM etc.
  • Chapter 6: Customer Management for Senior Managers
    Listening to the customers, Mapping the customers, Are customers’ needs negotiable? Managing Products /Brands Over Geographical Boundaries and Market Segments.

Mandatory literature: Online study materials prepared by the lecturer.
Recommended literature and other sources:
Crawford, M., & Di Benedetto, A. (2015). New Products Management (11th ed.). New York: McGraw-Hill Education.
Haines, S. (2014). The Product Manager´s Desk Reference (2nd ed.). New York: McGraw-Hill.
Mironov, R. (2008). The Art Of Product Management: Lessons from a Silicon Valley Innovator. North Charleston, South Carolina: Createspace Independent Pub.
Cagan, M. (2008). Inspired: How to Create Products Customers Love. CA: SVPG Press.
Kapferer, J., & Bastien, V. (2012). The Luxury Strategy: Break the Rules of Marketing to Build the Luxury Brands (2nd ed.). NY: Kogan Page.

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