Examines the skills and tools entrepreneurs need for bootstrap or guerilla early-stage companies. Covers how to target market segments, position products, estimate demand, set prices, gain access to channels, and manage issues of rapid growth. Prerequisite: B A 501, MKGT 501 or equivalent. Offered: jointly with ENTRE 555.
This course is designed to expose students to the unique challenges of marketing in start-up organizations. You are expected to understand the basic principles of marketing as taught in the introductory MBA marketing classes, though we will touch on them throughout the course. We will apply those marketing principles to various entrepreneurial marketing situations and build upon them with recent marketing theory and through application to specific cases.
Please note that MKTG 555 sections A and B are combined as one class. Course availability before the first day of class can be deceiving if you only look at one section.
Student learning goals
1. Understand how to apply marketing principles to entrepreneurial situations
2. Understand the unique opportunities and challenges of entrepreneurships in bringing products and services to market
3. Get hands on experience developing marketing plans for actual local entrepreneurs
General method of instruction
A combination of lectures, guest speakers who are local entrepreneurs and in-class exercises. A major part of the class is the marketing plan developed in teams for a local company chosen by the instructor. Teams are expected to do at least some primary research in developing these plans in addition to their secondary research.
See the UW course catalog for prerequisites. Please read this article for the first evening of class: http://www.inc.com/resources/startup/articles/20050801/process.html Students are expected to have course materials on the first day of instruction. Word of Mouth Marketing by Andy Sernovitz and the MKTG 555 A/B Course Pack are both required texts for this course.
Class assignments and grading
Participation in class discussion, individual assignments and team projects will dictate grading. Approximately the top 10% of the class can except to receive a 4.0 for this course. The majority of your grade will come from marketing plans developed in teams throughout the quarter for real local entrepreneurships. An individual mid-term assignment generates 20% of your grade. Details by assignment are below.
40% of grade comes from individual assignments based on 3 case studies provided in the Course Pack 40% from full marketing plans developed in teams as the final project + 5% from peer evaluations on your contribution to those plans 15% from class participation