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2013/2014  KAN-CM_A47  Product Development and Target Market Segmentation

English Title
Product Development and Target Market Segmentation

Course information
Language English
Exam ECTS 7.5 ECTS
Type Elective
Level Full Degree Master
Duration One Quarter
Course period First Quarter, Fourth Quarter
Changes in course schedule may occur
Monday 09.50-13.20, week 14-16, 18-21
Monday 09.50-14.15, week 22
Time Table Please see course schedule at e-Campus
Max. participants 80
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Marcus Schmidt - Department of Marketing (Marketing)
Main academic disciplines
  • Marketing
Last updated on 30-10-2013
Course prerequisites
Basic/Introductory Marketing course.
Examination
Oral exam based on group project:
Examination form Oral exam based on written product

In order to participate in the oral exam, the written product must be handed in before the oral exam; by the set deadline. The grade is based on an overall assessment of the written product and the individual oral performance.
Individual or group exam Individual
Size of written product Max. 15 pages
Assignment type Project
Duration
Written product to be submitted on specified date and time.
20 min. per student, including examiners' discussion of grade, and informing plus explaining the grade
Preparation time No preparation
Grading scale 7-step scale
Examiner(s) Internal examiner and second internal examiner
Exam period Autumn Term and Spring Term
Make-up exam/re-exam
Same examination form as the ordinary exam
Description of the exam procedure
Selecting a topic:
Each group (consisting of 3-5 students) will select a topic (i. e. developing a new physical product, repositioning a service product, redefining a target market etc.)
Students will question a number of customers either by way of face-to-face interviews or by way of online surveys (social media).
 
Survey:
Each group must carry out a small empirical survey. Options are a focus group (required), a face-to-face interview, social-media surveys etc. Strict conditions of representativeness are not required, that is, convenience samples are accepted.
Survey results must be analyzed and findings are to be used for suggesting an appropriate marketing strategy for the next 12 month.
Course content and structure
The purpose of the course is to give the student a profound insight into the methods used by consulting companies and marketing research agencies (1.) for developing new products, (2.) for product positioning and (3.) for selecting new target markets. In an increasingly competitive environment it is of utmost importance to possess a high level of knowledge with regard to how companies can use modern marketing techniques for gaining competitive advantage, for improving target marketing, for benefit bundling and for developing successful new nice and mass market products. Methods taught are relevant for consumer and business marketing as well as for service marketing and marketing on social media.
 
Earlier, such techniques were within the domain of academic researchers and agency experts. However, the huge progress within computerized statistics combined by the increased user friendliness of software packages makes it possible for today’s marketing manger to use the methods as a powerful marketing research tool. The objective of the course is twofold: First, to be able to personally handle market research data in intelligent ways and second, to get an appropriate overview of marketing research methods used by marketing research companies. 
The course will cover the following issues: 1. Using focus groups for investigating the psychological phenomena underlying consumer decision processes. 2. Investigating tools for systematic product development (i.e. conjoint analysis), 3. Employing methods for competitive positioning of products (i.e. psychological mapping). 4. Exploring techniques for effective target market segmentation and benefit bundling (i.e. cluster analysis). The aim is to provide the student with insight into a selection of widely used marketing research methods and to figure out how to transform market research findings into successful promotional strategies.
Teaching methods
Lectures, case study discussions, empirical investigations, visits at marketing research agencies, PC-lab sessions (using Excel and SPSS for analyzing market research data).
Expected literature
Product Development and Target Market Segmentation, Marcus J. Schmidt and Svend Hollensen, Pearson 2006
 
Selected publications/papers
Last updated on 30-10-2013