Marketing’s role in every company is to develop profitable relationships with customers. The Marketing functional specialization within the Moore School’s one-year MBA program is focused on developing the student’s ability to successfully create and manage these customer relationships on a global basis. Today’s marketers also have access to more information than ever before. While research and data are important, this information only becomes valuable when used to develop new marketing strategies that help companies attract, retain and grow their customers. This specialization accomplishes this objective by delivering a comprehensive understanding of fundamental marketing functions and an in-depth exploration of the various marketing metrics, marketing tools, and market intelligence elements required to successfully create and execute an impactful marketing strategy. Each course in the program integrates the use of customer, consumer, and competitor insights into the coursework resulting in a strong understanding of the data-driven decision making that is required for successful global marketing today and in the future. Candidates pursuing this Functional Specialization are expected to complete four courses (12 credit hours) beyond the core requirements; two of them required and two which may be chosen from a list of provided electives.
Of the electives offered, candidates are encouraged to take MKTG 750, which is a project-focused class that allows students to apply their marketing knowledge to a real-world consulting opportunity. Students have had the opportunity to work on projects with such companies as Coty, ESPN, Sonoco and Textron.
| Marketing Functional Specialization |
MKTG 702 - Advanced Marketing Research
MKTG 704 - Theory & Analysis of Consumer Behavior
| Brand and Product Management Path || |
| Marketing Analytics Path |
| MKTG 705 - Marketing Communications |
| || MKTG 708 - CRM/Data Mining |
| MKTG 707 - Product/Brand Policies |
MKTG 718 - Social and Digital Media
| || MKTG 717 - Marketing Spreadsheet |
(*Indicates required course for Marketing Functional Specialization)
*MKTG 702 - Advanced Marketing Research: Marketing research provides crucial informational inputs to the marketing manager. The quality of marketing research depends on the care taken in executing its various steps, including problem definition, research design, data collection, data analysis, and the extraction of decision-relevant insights. This course focuses on the practice of marketing research, and teaches students how managers implement and use research to reduce uncertainty in marketing decisions. Therefore, this course is designed to make students intelligent users of marketing research, making contacts between managers and marketing researcher as efficient as possible. Topics covered include fundamentals of descriptive, qualitative, and experimental research designs. Experiential research projects for business partners of the Center for Marketing Research may be incorporated.
*MKTG 704 - Theory and Analysis of Consumer Behavior: As demonstrated in MKTG 702, customer information provides fundamental insights for most marketing decisions. Thus, marketing begins and ends with the customer. This course provides the student with a solid foundation regarding the psychological and socio-cultural factors that drive customer decision-making. The student will take the perspective of a marketing manager who needs consumer insights in order to develop, implement, and evaluate effective marketing strategies.
MKTG 705 - Marketing Communications: For many consumers, marketing communications (MarCom) represents the “face” of marketing, the most familiar and ubiquitous tool of marketing management. MarCom includes the planning and execution of promotional strategies using advertising, sales promotion, direct marketing, and public relations tactics, among others. Students will learn how to develop an effective integrated marketing communications plan and may participate in a real communications project for a corporate partner. For those interested in a career in some aspect of marketing communications and brand management, this course provides an excellent foundation for the social and digital media strategy elective course (MKTG 718).
MKTG 707 – Product/Branding Policies: Marketing as an organizational function is closely identified with Product and/or Brand Management. Ever since its origin at Procter and Gamble as an organizational innovation to deal with the resource allocation and strategic decision-making needs of individual brands, brand management has become a widely accepted structural arrangement in organizations. While product or brand management is more closely identified with consumer marketing, nothing prevents its use in business markets.
As such, knowledge of brand management is essential for those contemplating a career in marketing. In addition, insights into brand management are relevant for people planning a career in consulting and financial services, and for those interested in setting up their own ventures. Key topics covered include: new product development and introduction, brand and product management, market forecasting, and brand equity measurement and management, among others.
MKTG 708 - CRM/Data Mining: Firms have invested considerable resources in setting up customer relationship management (CRM) programs, while improvements in technology and software have provided the means to analyze key outcomes of CRM programs (as measured by satisfaction, loyalty, and profitability). Implementing a CRM marketing program entails extracting meaningful information from large databases using analytical techniques (commonly referred to as data mining), developing insights and strategies, and then implementing them. The topics that will be covered in this course include basics of customer relationship management; customer lifetime valuation analysis using transactional data; and data mining using Excel Miner to perform hands on analytics. Student will develop skills related to multiple linear regression, classification and regression trees, logistic regression, neural networks, discriminant analysis, market basket analysis, and cluster analysis. Companies use these techniques to evaluate customer profitability, target profitable customers, and implement data driven marketing decisions.
MKTG 715 – Pricing Strategy and Analytics: Setting the price of a product or service is another important decision made by marketing managers. Pricing decisions require an understanding of mathematics, economics and consumer psychology. Topics covered include: Price discrimination, product line pricing, bundle pricing, markdown management, channel pricing, pricing in real time (pricing in auction type markets and incorporating real-time demand observations into pricing decisions), breakeven analysis, measuring price sensitivity, and psychological pricing. Cases will focus on a particular business problem and use data to analyze the underlying problems. Students will get hands-on experience with spreadsheet analytics related to pricing and may participate in a pricing project with a corporate business partner.
MKTG 717 - Marketing Spreadsheet Modeling: This course focuses on the conceptual foundations and application of basic econometric and statistical models used in marketing analytics contexts. The understanding of such models should enable students to properly use them in real business settings using commonly available software.
MKTG 718 - Social and Digital Media Strategies: This course adopts an intense, boot-camp-style pedagogy in order to teach students how to develop effective social and digital marketing strategies under time pressure, mirroring the contexts in which such decisions are made in the real world. The focus is on developing a creative and effective social/digital marketing plan for a real corporate partner. Students will have the opportunity to present their completed plans to corporate managers and will compete with other student teams to develop the most effective plan, just as occurs in agency-client relationships. This class should be taken after MKTG 705, Marketing Communications.
MKTG 750 – Marketing Consulting Project: To leverage and apply the new knowledge acquired in the marketing functional specialization, while at the same time preparing for a career in marketing management, students will have the opportunity to participate in a Marketing Insights Into Action (MIA) project with a corporate partner. This collaboration will provide students with access to real data, to new analytical techniques, and to actual business issues confronting a business client. Final presentations to the company will allow students to identify important insights and then recommend marketing actions, all the while showcasing student talents to potential employers and career references. These student projects reinforce the entire marketing management experience, from analysis to insights to action.