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Aim of the course
The most valuable asset that a company has is its brand/s . Brand
value includes a range of factors, such as financials,
availability, ease of use, uniqueness, attributes, emotional, and
symbolic factors and how these factors match with consumers’
physical and emotional needs. This is the case for both large
conglomerates and small start-up companies. Brand Management is the
concept of organizing marketing activities around the
identification, positioning, communication and optimization of
brands and brand portfolios. Although manufacturing processes,
product designs, service and retail concepts often can be
replictaed by competitors it is less easy to replicate strong
beliefs, emotions, and attitudes among customers toward a brand.
Like people, brands have a certain 'personality'. This
'personality' differentiates it from other brands and
provides it with the opportunity to establish a market position and
expand if managed properly.
The Strategic Brand Management course provides students with both
theoretical frameworks and tools necessary to thinks strategically
and to manage a portfolio of brands, including making decisions in
a simulated brand environment. As such, students will play in teams
of around three individuals and participate in all aspects of
information gathering, analysis, strategic decision making, and
implementation over 8-10 simulated periods (years).
Content
The course provides students with a global theoretical framework
for strategic brand management, which enables the students to make
and implement well-informed strategic decisions in a simulated
environment. The simulation game involves topics such as creating
brand value and positioning, dealing with the financial aspects of
brand management, as well as understanding the functions of brand
management to deliver sustained customer value and brand loyalty.
It also demands practical management of strategic planning, product
management, and marketing mix decisions (price, promotion,
discounts, segmentation, etc.) as well as internal negotiations
among the team members. Students learn how to grow brand value
through carefully designed and implemented brand and line extension
decisions. Students also study how to adjust brand strategies over
time to maximize the company earnings.
PharmaSim Simulation Game
PharmaSim drives home both strategic decisions and tactical
implementations thru the 4x Ps of Marketing: Pricing, Promotion,
Product and Place (distribution). It introducies students to the
concepts of brand value and marketing planning for multiple product
lines. The brand 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 is used at leading universities
worldwide. PharmaSim allows students to apply business concepts in
a dynamic, integrative environment.
The Case: Groups with around three students take the
role of a brand management team in the over-the-counter
pharmaceutical industry during 8-10 simulated periods. As members
of the brand management team, students discuss, analyze data, make
strategic product decisions such as reformulating their brand,
introducing a line extension, and launching a new brand and manage
the marketing mix for their products. Student teams learn how to
optimize interaction with consumers and channel partners, measuring
their progress through marketing research.
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