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2012/2013 KAN-BCM_BC54 Strategic Brand Management and PharmaSim Simulation Game
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| Strategic Brand Management and PharmaSim Simulation Game |
Course information |
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| Language | English |
| Exam ECTS | 7.5 ECTS |
| Type | Mandatory |
| Level | Full Degree Master |
| Duration | One Semester |
| Course period | Spring |
| Time Table | Please see course schedule at e-Campus |
| Study board |
Study Board for MSc in Economics and Business Administration
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| Last updated on 09-07-2012 | |
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At the end of the course the student is expected to be able to: 1. Demonstrate a knowledge and understanding of the central models and concepts presented in the course and in the literature 2. Apply these models singly or combined to fit the concrete case situation under study 3. Demonstrate the ability to define relevant goals, indicators and information required to manage brands 4. Analyse relevant information using appropriate tools and models 5. Demonstrate the ability to apply qualitative and quantitative information about consumer behaviour, market trends and internal branding processes to the management of brands 6. Reflect incisively and critically over the underlying causes of the phenomena being studied 7. Relate the theories, concepts and models presented in this course to others they are familiar with from other courses 8. Synthesise and deduce new models that can be used to predict phenomena relevant to the study of strategic brand management |
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Aim of the course
The most valuable assets that a company has are the brands that companies have invested in and developed over time. This is true for large conglomerates as well as for small start-up companies. Often a company itself is considered a brand. Brand Management is the concept of organizing marketing activities around the introduction, promotion and optimization of brands and brand portfolios. Although manufacturing processes, product designs, service and retail concepts often can be duplicated, strongly held consumer beliefs and attitudes regarding a brand or business often cannot be so easily reproduced. Like people, brands have their own individual personality. This differentiation drives the ability for a brand to grow and expand or altenatively, may limit a company’s potential if not managed effectively. Since brands are intangible assets, creating and nurturing a strong brand is a challenge; thus, building a brand is both an art and a science, calling for more than building brand image through traditional marketing communication activities. By understanding the concept of brand equity, marketers can gain valuable perspectives that allow them to interpret effectiveness and tradeoffs of various strategies and tactics. The Strategic Brand Management course provides students with both theoretical frameworks and tools necessary to manage a portfolio of brands as well as hands on experience in a simulated, brand environment. As such, students will play in teams of around three persons against other teams and participate in all aspects of information analysis, strategic decision making, and implementation over 8-9 simulated periods (years). Content The simulation game involves topics such as creating brand equity and positioning, measuring brand equity, using brand equity to expand a business, understanding the functions of brand management to deliver sustained consumer and customer value and brand loyalty, as well as practical management of strategic planning, product management, consumer research decision tools and an evaluation of marketing mix elements. Students learn how to grow brand equity through carefully designed and implemented brand extensions decisions. Students also study how to adjust brand strategies over time to maximize brand equity. PharmaSim Simulation Game PharmaSim is the leading marketing management simulation. PharmaSim drives home the Four Ps of Marketing: Pricing, Promotion, Product and Place (distribution), while introducing students to the concepts of brand equity and marketing planning for multiple product lines. This marketing management simulation covers segmentation, positioning, management of a portfolio of brands, integrated marketing communications, and multiple channels with intermediaries. PharmaSim is co-authored with Thomas Kinnear of the University of Michigan, and has been used at leading universities worldwide since 1990. PharmaSim is an excellent complement to traditional teaching methods, allowing students to apply business concepts in a dynamic, integrative environment. The Case: Groups of around 3-4 students take the role of a brand management team in the over-the-counter pharmaceutical industry for 7 to 10 simulated periods. As a member of their marketing management group, students manage the marketing mix for their products and make product decisions such as reformulating their brand, introducing a line extension, and launching a new brand. Student teams learn how to motivate consumers and channel partners, measuring their progress through marketing research. |
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This course will include active team work in small groups who compete with one another, interspersed with course instructions. It is an intense one week course so attendance and participation are essential. In addition, we will discuss team interaction, decision making under pressure, and various types of team collaboration. |
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Last updated on 09-07-2012