MKTG 504 - CASES IN MARKETING

1. MKTG 504 - CASES IN MARKETING Dr. Dennis Pitta University of Baltimore

2. Differences between case and lecture methods • In the case method: • Students take a more active role • The situation seems more realistic

3. A case is: "typically a record of a business issue which actually has been faced by business executives, together with surrounding facts, opinions, and prejudices upon which the executives had to depend. These real and particularized cases are presented to students for considered analysis, open discussion, and final decision as to the type of action which should be taken." Charles I. Gragg, "Because Wisdom Can't be Told," Harvard Alumni Bulletin, October 19, 1940.

4. What is important in the case method • The PROCESS of arriving at an answer! • Increasing skills in decision making. • Bolstering analysis with decision support. • Clarifying communication with experience. • Team skills

5. Problems to conquer • Limited information • Total responsibility for decision • Defense of solution against all criticism

6. What does the chart mean? What conclusions can you draw about the % of consumers mislead by a company's advertising campaign?

7. People - Managers differ in their perceptions Often the same data will hold different meanings to different managers.

8. Defending an Analysis • Communication skills are vital • Conflict serves a purpose • Dress rehearsal is also vital

9. Conflict • Serves as a vehicle for reality • If resolved, can lead to a better solution • Harmony can actually be detrimental to success

10. Conflict Resolution and Quality • When opinions differ the reasons may be: • An overlooked piece of information • Some factors weighted differently

11. Conflict Resolution and Quality • Resolving the conflict forces: • a reconsideration of assumptions • a clearer perception of problems • a recognition of conflicting interpretations of facts • a greater awareness of managerial complexities

12. Case Analysis Procedure • Initially, read the case quickly. • Goal is to gain a feel for: • the type of problem presented in the case, • the type of organization involved, • etc.

13. ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ ______________ Compare:

14. Case Analysis Procedure - contd • Next, read the case thoroughly to learn all the facts. • As part of the process of mastering the facts - perhaps numerical data for calculation and comparisons. • Comparisons can highlight differences!

15. Complete case analysis may require a number of readings

16. Facts do not tell the whole story • You may wish to make reasonable ASSUMPTIONS.

17. Situation One: You are a Scotland Yard detective searching for an international assassin who lives in the UK. Your team enters his residence and finds his UK passport - but he is gone. What do you assume?

18. Situation Two: You are a sales manager who has just hired a new male salesperson who has also just been married. Over the next four months, you notice that the new salesperson has put on weight. What do you assume?

19. Situation Three: You are a manager who has responsibility for getting new customers to your restaurant. You notice that patronage declined after you hired a new chef. What do you assume?

20. Why ASSUMPTIONS? • Real life managers rarely have perfect information. • Often the link between fact and implication can be made clearly. • e.g. Raising prices of commodities often results in lower sales. • Sometimes the low level of information available in the real world is unbelievable.

21. Conclusion: An ability to make well-reasoned assumptions to form the basis of well-reasoned decisions is a vital managerial skill.

22. Another situation: You come home after a grueling day at work, your spouse greets you in a somewhat curt way. You ask what is wrong. The reply is ABSOLUTELY NOTHING!! What is the problem?

23. After mastering the facts: • Identify and specify the ISSUES and PROBLEMS requiring attention. • Issues can be very obscure. • Problems are causes but are often not seen. Symptoms are usually visible.

24. Learning to separate symptoms and problems • Problems are usually under the surface. • Symptoms are usually visible

25. Symptom level Problem level

26. Typical Case Problem Characteristics • Often a number of subproblems

27. Next, identify alternative courses of action • Usually there are a number of courses of action. • Avoid locking into one too quickly - another may be better.

28. Evaluate each alternative plan of action. • Requires juggling all facts and assumptions. • Also - quantitative and qualitative pieces. • Think of the implications of each action.

29. Choosing an Alternative • Thorough analysis is vital! • A number of alternatives may 'work,' but the best solution will be optimal given all the constraints.

30. IMPLEMENTATION!!! • Choosing a strategy is fine, but it must be implemented. • Give careful consideration to how - and how well - this change can be accomplished. Choosing a strategy is fine, but it must be implemented. • Give careful consideration to how - and how well - this change can be accomplished.

31. In your analyses: • Avoid rehashing facts! • Interpret the facts and use them for your analysis. • Requires a great deal of time and effort • the payoff: great skills.