Working under the guidance of a professor, the student devises a plan and produces a substantive report with recommendations. This course examines the nature of entrepreneurship, the factors for success in venture creation and growth, and the pitfalls that increase the likelihood of failure. Students apply the most current and rigorous research in entrepreneurship by translating it into specific tools for new venture planning and implementation. Each participant applies the subject matter being covered by selecting and pursuing a project which requires the planning of a new venture or the study of an ongoing one. In this course, students will study the development, testing, launch, and management of products and services for the consumer markets.
Attention is given to line planning, brand management, and packaging.
Also emphasized are the competitive positioning of consumer products and services and the management of multilevel distribution channels. Topics include key account and customer analysis, inter-industry analysis, RFP management, competitive bidding, and contract negotiation. A major emphasis is placed on effective sales management, including a study of the personal selling process and the selection, motivation, and evaluation of sales professionals. Also examined is the role of marketing management in technical organizations. This course teaches how to identify market information needs and how to formulate plans to gather the information.