MKT 545: Customers, Markets and Firm Strategy

This module provides new and articulate strategy concepts, analytical frameworks, and hands-on tools for students to execute industry analyses and develop competitive strategies. Building on consumer behavior, customer analytics, industry analyses and strategy foundations, it helps to analyze the competitive behavior of firms (including pricing, market positioning, product development, expansion, entry and deterrence) under various economic conditions of industry structure.

Learning outcomes
By the end of the module students are able to execute industry analyses and develop competitive strategies. In particular, students will have a deep understanding of identifying customers’ preferences, needs and willingness-to-pay. Taking this understanding of consumer into account, students are able to analyze the principles and foundations of business strategies from the interrelationship of product demand, market environments and firms’ characteristics. Moreover, students are capable of executing industry analyses, uncovering durable economic principles that are applicable to different strategic situations. That means, course participants gain a profound understanding of how firms compete and organize themselves and how firms have to make good strategic marketing decisions.

Necessary prerequisites
Not taken MKT 650

Recommended prerequisites
Basic marketing knowledge on Bachelor level / B.Sc. Business Administration

Forms of teaching and learningContact hoursIndependent study time
Lecture2 SWS9 SWS
Exercise class1 SWS5 SWS
ECTS credits6
Graded yes
Form of assessmentWritten exam (90 min)
Restricted admissionno
Further information
Performing lecturer
Prof. Dr. Florian Stahl
Prof. Dr. Florian Stahl
Frequency of offeringSpring semester
Duration of module 1 semester
Range of applicationM.Sc. MMM, M.Sc. Bus. Edu., M.Sc. Econ., M.Sc. Bus. Inf., LL.M., MAKUWI, MMDS
Preliminary course work
Program-specific Competency GoalsCG 1
LiteratureDavid Besanko, David Dranove, Scott Schaefer, Mark Shanley (2017): Economics of Strategy (7th edition, 2017), Publisher: Wiley
Course outlineBasic Principles of Customers, Firms, Markets and Strategies
Customers’ Needs, Preferences and Valuation of Products and Services
Customer-centric Marketing and Marketing Strategy
Competitors and Competition
Market Entry and Market Exit Decisions
Dynamic Competition Across Time
Industry Analysis
Strategic Positioning for Competitive Advantage
Information, Value Creation and Strategy