3.00 credit hours
This course will introduce you to the fundamental marketing ideas, tools and skills that enable managers to pursue high growth, high return business models in today's complex and severely competitive markets. Kim and Mauborgne (1999) broke new marketing ground by emphasizing the idea of discovering fundamentally new (unoccupied) market spaces (i.e., where there are no direct competitors). Innovators look across, rather than within, traditional competitive market boundaries to create real value innovation. The reward is a rapid growth, high return business model. Chakravorti (2004) addressed methods of managing those models. Today's market space networks are so complex that one customer's adoption of an innovation usually depends on its systematic adoption by many other members of the value chain. So, innovators must develop multiple partnerships by changing the behaviors of numerous players, while concurrently dealing with competitive threats. In the course you will learn and practice the seven major tasks of market space discovery and management: 1. Identifying unoccupied market space(s) in which the product or service offers network partners and end users long-term, demonstrable value, 2. determining those parties' perceptions of the product's unique benefits to them, 3. mapping the structure and dynamics of the Inter-organizational networks--including both potential partners and competitors, 4. determining the members' perception of the costs to them of partnering, 5. developing and costing a program to develop relationships with the partners and end users, 6. estimating profitability and ROI, and 7. executing the management program. Course materials include text, readings and cases as a basis for lectures and discussions. Guest speakers address managerial perspectives. Student individual and team deliverables can include active class participation, position papers, case analyses, tests, and a Market Space Audit project. Offered as MKMR 419 and MSOR 419.
No Syllabus Available