1New York University Stern School of Business – Undergraduate Division Entertainment Marketing (Spring 2006) http://sternclasses.nyu.edu Professor Sunder Narayanan C55.0040.01 C55.0040.0 Office: Marketing Department W 4:55-6:10 R 3:30-4:45 Stern Email: snarayan Tisch UC 63 Tisch UC 62 Office Hours: By appointment Course Description This course is designed to provide you with a framework for understanding the dynamics of marketing in several major sectors within the entertainment industry. The focus is on understanding the development and application of marketing strategies and tactics for entertainment companies competing for a share of the consumer's discretionary spending. The course will cover recent activities including mergers, acquisitions in those key sectors of the entertainment: movies, television, music, radio, interactive games, and publishing. The course will explore marketing techniques that apply across the entertainment companies. Specifically, this course will help you: 1. Analyze and identify opportunities in key sectors of the entertainment industry. 2. Understand the basic concepts, terms, measurements, and principles that apply to marketing in the entertainment industries. 3. Appreciate recent trends within the industry such as globalization, convergence and cross-media synergies. 4. Understand the strategies followed by some key global media conglomerates. These objectives will be achieved through a combination of lectures, readings, discussions, and case analysis. Class participation during lectures and meaningful contributions to discussions are extremely important. Required Course Material 1. Case packet available in the bookstore. Course Evaluation 1. Class participation 20% (individual) 2. Exam (take-home) 30% (individual) 3. Case presentation 20% (group) 4. Project report and presentation 30% (group) Class Participation (20%) Every session of the course will involve interaction in the form of class discussion. I expect each one of you to come to class on time and be prepared to contribute to all class sessions. Please go over the readings prior to class. Lectures will not duplicate reading material: they will supplement and embellish the readings, and offer alternate viewpoints. Please also come prepared to class with the cases and assignments so that you can meaningfully contribute to the discussions.2 Case Presentation (20%) Each group will be assigned one of the cases for a group analysis and class presentation. Your group is required to analyze the case and make a 20-minute presentation in class on the date assigned for the case. All members of the group are required to take part in the presentation. The case for your group will be assigned on the third class of the semester. A comprehensive analysis of the case is expected. You are required to do external research to obtain and use outside information on the firm and the industry while preparing your case analysis, and specifically present your research in your presentation (you should have a final slide that summarizes your external research on the industry and company). Please reference all external sources used in your report. Also please turn in a copy of your presentation slides before class begins on the day of your presentation. Some Guidelines for Case Analysis: Although each case is different, your own case analysis skills will develop more effectively if you approach each with a similar framework. In approaching each case you should think of a twofold approach. First, plan a quick reading several days in advance of your analysis, taking notes of key issues, critical facts and their implications. The case is then 'in play,' and you will find it easier to start your analysis. In performing your analysis, the following framework is offered as a method of approach. Please modify the framework to suit the particular situation facing your firm. You may use outside information on the firm and the industry while preparing your case analysis as long as you reference the sources. 1. Decisions: What are the key decisions that have to be made by the focal decision maker? Often you will isolate relatively minor decisions; push your analysis so that you can identify the full decision scope. 2. Objectives: What objectives is management trying to achieve? These often take the form of growth, market share, profit or cash goals. Do these make sense, given your analysis? 3. Market Analysis: What do you know about the market size, growth, presence/evolution of market segments? What markets for other products forms impinge upon the market you are considering? 4. Environmental Analysis: What are the key imperatives and/or changes taking place outside of the industry that affect both your firm and its competitors? Examine the economic, technological, social, regulatory, political, and legal environments. 5. Industry Analysis: What is happening in the industry? What is the state of competition between existing competitors? To what extent are new firms entering the market? What is the level of competition from products made with different technologies? Are our suppliers integrating forwards? Are our customers integrating backwards? 6. Customer Analysis: Who are our customers? What sets of benefits do they require? You need to consider both direct and indirect customers.37. Competitor Analysis: What are the strengths and weaknesses of our competitors? What are their strategies? Will their strategies change? If so, how? What strategies might we expect from entrants? 8. Firm Analysis: What are our strengths and weaknesses? What strategies have we pursued in the past? How successful have they been? 9. Economic Analysis: What does the economic analysis show? Given the set of decisions and objectives facing the decision maker, what is the nature of the job in economic terms? 10. Assumptions: As you reflect on your analysis, what are the key givens upon which you will base your strategy? 11. Alternatives: What are the two or three major courses of action that could be followed to reach the firm's objectives? For each that you identify, you should lay out pros and cons. 12. Action Plan: What are you going to do? Lay out a broad strategy and specific action steps. Take-Home Exam (30%) The exam will be due on the date indicated on the syllabus. You are required to do the exam individually and