Marketing Management
                     15.810
Course 
Introduction
Marketing 
Management Prof. 
Natalie Mizik
What is Marketing?
 Marketing is the activity,  “Everything starts with the 
set of institutions, and customer”
processes for creating,  Lou Gerstner, CEO of IBM 1993-2002
communicating, 
delivering, and  “Creating shareholder wealth is not 
exchanging offerings that the purpose of the business. It is 
have value for customers, the reward for creating customer 
clients, partners, and value”
society at large (AMA  Tracy and Wiersema in CFO magazine
2007)  “My own biggest mistake in the 
last 20 years was that sometimes I 
designed solutions for problems 
 Marketing is an that people didn't yet know they 
organizational had. That's why some of the things 
function and a set of that could've made a difference 
processes couldn't find a market”
for creating,  Bill Joy the ‘Edison of the Internet’
communicating, and

delivering value to To achieve organizational goals by 
customers determining the needs and wants tha
and for managing customer of c
nu stomers and delivering th2e 
relationships in waysP rotfh. Naatt alie Mizik – 2c0o10m MdesirepIT etit15.810 d ben
oerfists more effectively 
benefit and efficiently
the organization and 
its stakeholders (AMA 
2004)
Importance of 
Marketing
Market Value
Cash Flows
Customers
Company Competitors
3
Prof. Natalie Mizik – 2010 MIT 
15.810
Course Objectives and 
Structure
I.  
Situatio COLLABORATOR CUSTOMER COMPAN COMPETITION CONTEX
n S S Y T
AMnaarklyesti s
O: pportuniti
eIdse (n5tCifsy)
ACQUISITION- 
II. Set SEGMENTATIO TARGETIN POSITIONING RETENTION
Strategy N G
(STP)
III. 
Formulat PRODUCT PRICE PROMOTION PLACE
e 
Marketin
g 
Program
s (4Ps) Prof. Natalie Mizik – 2010 MIT 
15.810
15.810 Course 
I. Analyzing Markets and Identifying Opportunities  III. Formulating Marketing Programs
Session Date  Topic Assignment Session Date  Topic Case/Readings Assignment
Case/Readings SCatse: Federal Express (B)Introduction and ructure: Read: “Product Development: A Customer-Driven 
Read: “Note on Marketing Strategy”
1. Sept 8 Company 12. Oct 27 Product Approach”
Read: “Basic Quantitative Analysis for 
Analysis Read: “First-Mover Disadvantage”
MReaarkde: t“inAgn”alyzing Marketing Problems and Cases” Mktg Products Case: Massive Inc.
Case: American Airlines (A) Marketing HW
Competitive 13. Nov 1 for Multi-Sided Speaker: Katherine Hays (CEO, GenArts, Inc.,2. Sept 13 Skim: “Managing the Competition” Survey due Assignment 4
Analysis Demand Markets  former COO and CFO of Massive Inc.)
Read: “How to manage an aggressive by 7:00 pm Case: Medicines Co
cRoemadp:e “tiTtoor ”Understand Your Customers, You 14. Nov 3 Price Read: “Pricing 
3 Sept 15 Customer Have to Know How they Think”
HW Opportunities” Read: “Ethical Issues in Pricing”
Analysis I Read: “A Nobel That Bridges Economics and Assignment 1 Read: “Who Benefits from Price Promotion?”
Psychology”  Customer Read: “Marketing Communications and Customer Final Project 
15. Nov 8 Promotion
Response” Proposal
Analysis II & Read: “Economic Benefits and Value Speaker: John Gerzema (CIO, Young&Rubicam)
III: Value to Creation” Read: “Zero Defections: Quality 
4. Sept 20 Case: Rohm and Haas (A)the Customer Comes to Services”
16. Nov 10 Distribution Read: “Aligning Incentives in 
and Customer Read: “Customers As Assets”
Channels”
Lifetime Value Marketing
II. Developing Marketing Strategy
IV. Special Topics
5. Sept 22 Developing Mkt Case: Aqualisa Quartz: Simply a Better 
Strategy International Case: Citibank: Launching the Credit Card in 
Shower 17. Nov 15 Market Entry Asia Pacific (A)
Segmentation, Skim: “Segmentation and Targeting HW
6. Sept 27 Targeting and Speaker: Juan J. Alfonso (Vice President,
ASkniamly: s“iVs”alue Proposition and Positioning” Assignment International Positioning EVC-Based 18. Nov 17 Marketing & Program Development, ESPN 
2 Branding International)
7. Sept 29 Strategy Case: Optical Distortion, Course Read: “The Cost of Myopic 
Inc. Case: Harrah’s Entertainment Inc. 19. Nov 22 Summary MReaanda:g e“Mmeynotp”ic Marketing 
STP-based Read: “The Worst of all HW
8. Oct 4 Management”
SBtertast”egy and IBS  Read: “Betting Your Life on Assignment 3
It” Read: “Behavioral Addictions”  IBS, Social Nov 24 No Class Thanksgiving
9. Oct 6 Speaker: Ron Gonen (Founder and Responsibility Team 
CEO, RecycleBank) 20. Nov 29 Read: “Building a Marketing Plan”
and Presentations
Oct 11 MNaork celtainssg Columbus Day holiday No class
December 1 Final Projects Due Final Project
Read: “How do Brands Create Value?”
10. Oct 13
Read: “How to Better Value Branded 
Branding
Businesses”
Oct 18-22 SIP October 18-22 SIP No class
Developing
Case Write-up
11. Oct 25 Mktg Strategy Case: Sonance 
due by 10 
(A) for Innovation
am
5
Prof. Natalie Mizik – 2010 MIT 
15.810
What You Will Learn
What to do
A. Frameworks to develop and evaluate marketing strategy.
1. Analysis (Company, Competitors, Customers, Context, 
Collaborators: 5Cs)
2.Segmenting, Targeting, Positioning (STP)
B. Analytical tools
1. Value of products (EVC)
2. Value of customers (CLV)
3. Value of brands (brand equity)
C. Marketing assets
1. Customers
2. Brands
How to do it
A. Developing marketing programs (Product, Place, Price, Promotion: 
4Ps)
B. Strategy implementation
Prof. Natalie Mizik – 2010 MIT 
15.810
Why it will help you
 Marketers—gateway course, basic 
intro to marketing (take electives!)
 Entrepreneurs—framework for 
identifying and exploiting market 
opportunities
 Consultants—strategic framework and 
tools to facilitate firm decision-making
 Financiers—where cash comes 
from, alternative approaches to 
valuation 7Prof. Natalie Mizik – 2010 MIT 
15.810
15.810 Course 
 In-cLlaossg reiqsutireicmsents
 Name tents, stable seating
 Effective participation
 No laptops or wireless devices – print out your 
analysis before the class
 Course requirements
 Four individual Homework assignments
 One case write-up in 
groups of 4 (“Sonance” due 
Session 11)
 In-class group presentation, 
Session 20
8
 Final group pPrrof.j eNactatli,e  MSizeiks –s 2i0o10n M IT 
20 15.810
Course Special 
 EthEiclse/ Imndeivnidutasl, Business & Society
 Throughout, but an emphasis on
 Harrah’s – privacy issues and marketing to 
vulnerable audiences
 Bridging Theory and Practice
 Throughout, but an emphasis on 
Developing an Integrated Marketing 
Strategy
Juan J. Alfonso (VP, ESPN International)
John Gerzema (CIO, Young&Rubicam)
Ron Gonen (Founder and CEO, RecycleBank) 9
Katherine HProf.15a.81y
 Nsat al(ieC MEizOik –,  2G010e MnIT 0 Arts)
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