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Marketing Management

Marketing is crucial to any business. It involves understanding customers and competitors, setting strategy, developing products, delivering value to customers, and managing relationships. It focuses on discovering and exploiting new opportunities and aspires to create loyal customers and strong brands.

Chicago Booth is at the forefront of preparing students to succeed and lead in the changing marketing environment. Future marketers must be strategic, analytical and decisive, able to lead teams across the organization, measure the profitability of marketing actions, and sell their ideas – all in the face of rapid change and global competition. The Chicago approach to disciplined thinking equips you with skills that stand the test of time. We teach not only the latest innovations in marketing, but also provide solid grounding in fundamental disciplines like psychology, economics, statistics, so you are prepared to face new challenges that emerge.

 

COCURRICULAR ACTIVITIES
You'll have the chance to explore operations outside the classroom in numerous ways that will also allow you to build new skills, relationships and networks. These include:

Community Activities

Marketing Group

This student group seeks to educate members on career opportunities and trends in marketing; prepare members for the job search process; provide a network for social interaction with peers, faculty, administration, and recruiters; and promote Chicago Booth as a source for marketing talent.

Marketing Group Conference

The conference exposes students to current issues in marketing and provides an excellent forum for networking. Read about past event.

Dean's Marketing Advisory Committee

Members are responsible for generating and executing a set of internal marketing efforts annually.

DMAC Marketing Case Competition

Students in thiscompetition developing marketing ideasto generate brand loyalty and further enhance Chicago Booth's reputation. Sponsoring companiessend personnel to judge the contest. The first two sponsors of the competition have been Google and GE Healthcare Financial Services. Read about last year's event.

Quantitative Marketing and Economics Conference

This annual Quantitative Marketing and Economics conference features research in the intersection of marketing, economics and statistics. The goal of the conference is to provide a forum for interaction among researchers in this growing and important area.

Marketing Workshop

Top scholars from around the world present their work at the weekly marketing workshop. All members of the Chicago Booth community are invited to attend. View a schedule of previous events.

 





 

COURSE SAMPLING
You’ll have the option of taking courses that address your individual career choices. Samples include:

Marketing Strategy

This course introduces the substantive and functional aspects of marketing management. It covers the elements of marketing analysis (customer, competition, and company), and the marketing mix (product strategy, pricing, advertising and promotion, and distribution). It uses case studies so students can develop, present and defend their recommendations, as well as critically evaluate the recommendations of others.

Pricing Strategies

This course is a blend of analytic marketing techniques, marketing strategy, and economic theory. Students work with real data analyzing managerial pricing problems. Critical marketing questions are answered such as how to determine a new product's price, how to assess whether current prices are appropriate, what is price leadership, an what is value pricing.

Data-Driven Marketing

The availability of data on actual market behavior of consumers is revolutionizing the way marketing is conducted, as well as the way in which marketing activities are planned and evaluated. This course introduces students to these new data sources and provides a set of innovative analytic tools.

Management Lab

Chicago Booth pioneered experiential business education in the 1980s with the Laboratory in New Product Development. Now called Management Lab, students tackle high-profile consulting projects in areas such as new product development, branding, channels to market, and strategy. Over the years, projects have expanded beyond the United States to China, South America, Russia, Botswana, United Arab Emirates, and Turkey.

FACULTY SAMPLING
You’ll study with professors who conduct groundbreaking research, collaborate with the entrepreneurial and private equity communities, and bring their own entrepreneurial experiences into the classroom.

Image for Pradeep K. Chintagunta Pradeep K. Chintagunta, conducts research into the analysis of household purchase behavior, pharmaceutical markets, and technology products. His research has appeared in the Journal of Marketing Research, Marketing Science, Management Science, the International Journal of Research Marketing and the Journal of Econometrics. Image for Günter J. Hitsch Günter J. Hitsch, studies quantitative marketing and industrial organization, empirical models of consumer choice and competition, the economics and marketing of new products, and the economics of dating and marriage markets. Much of his research focuses on dynamic marketing strategies, i.e., situations where marketing decisions that firms make today have effects on future sales, profits, and competitive reactions.
Image for Sanjay K. Dhar Sanjay K. Dhar, studies topics such as strategic marketing management, advanced marketing strategy, brand management, new product development, pricing strategy, promotion strategy and product placement strategy. His research has been awarded the 2008 Paul Green Award which recognizes the best article published in the Journal of Marketing Research. Image for Aparna Labroo Aparna Labroo, investigates the effect of feelings that arise from the decision process itself. She also studies the impact of preexisting feelings that arise independently of the decision processes on self regulation, self control choices, and well being. She has published numerous articles on these topics, including several articles in the Journal of Consumer Research, the Journal of Marketing Research, as well as Journal of Personality and Social Psychology.
Image for Jean-Pierre Dubé Jean-Pierre Dubé, studies empirical industrial organization, dynamic oligopoly, competitive advertising, competitive pricing, retail competition, price discrimination, and internet marketing. Recently, he has worked on the role of dynamics in the strategies of competing firms. Image for Ann L. McGill Ann L. McGill, focuses her research on consumer and managerial decision making, with special emphasis on causal explanations, differences in judgments in public and in private, and the use of imagery in product choice. "My research enhances our understanding of how people think, which makes it easier to reach and help them," she explains.
Image for Ronald L. Goettler Ronald L. Goettler, studies industrial organization, microeconomics, consumer behavior and learning, applied econometrics, computational methods, market microstructure, and the entertainment industries. His paper, "Equilibrium in a Dynamic Limit Order Market," which appeared in the Journal of Finance, was nominated for the Smith Breeden Prize. Image for Oleg Urminsky Oleg Urminsky, studies consumer and managerial decision making and its implications for marketing management. His research on how motivation and behavior changes as people get closer to the goal of earning a reward appeared in the Journal of Marketing Research and was a finalist for the 2007 Paul E. Green award.

The James M. Kilts Center for Marketing plays a pivotal role by promoting the development and recognition of marketing at the school. Before founding Centerview Partners, Kilts, '74, was Vice Chairman of the Board of The Procter & Gamble Company.

The center sponsors a wide variety of basic and applied research in marketing on topics such as the determinants of consumer behavior; analytical models of marketing activities; pricing and consumer dynamics; and determinants of brand shares. This research is supported by visiting faculty and doctoral fellows.

Chicago Booth students are able to gain practical marketing experience through experiential learning opportunities.

In its commitment to attracting and graduating the best MBA talent, the center provides financial support to students through scholarships. In addition, Marketing Fellowships provide not only financial assistance but a two-year mentoring relationship with a member of the Center's steering committee. Career guidance and support is also the focus of the Center's mentoring program which pairs students with Chicago Booth alumni with marketing careers.

PROFILES  

Evelyn Lee

Evelyn Lee
Recruiter, Abbott

Continuing a partnership with Booth that has spanned more than two decades, Evelyn Lee recruits students who can make long-term contributions to the health care firm.

Read more »

Evelyn Lee

Recruiter, Abbott

Building on a relationship with Chicago Booth that stretches back to 1987, Evelyn Lee, manager of university relations, is one of many Abbott recruiters who have consider Booth students for internships and the firm's Management Development Program (MDP).

"This is a commercial marketing development program in which participants rotate through three different projects over three years," Evelyn explains. "The program prepares participants for general management and future leadership positions."

"The Booth students we've hired in the last 10 to 15 years have all been solid and consistent performers," says Evelyn. "They demonstrate quite a bit of leadership potential, they work well in a team setting, and they fit into the Abbott culture very well."

Recently named the most admired company in the pharmaceutical industry sector by Fortune magazine, Abbott looks for analytically skilled candidates who can contribute to the broad-based company's full range of health care services, from diagnostics to medical devices to nutritionals.

"This means students have opportunities to work on a wide variety of medical and consumer products and direct-to-consumer marketing," says Evelyn.

"We really want to understand the market and make the right business decisions based on data," she adds. "Because of the strong foundation that Chicago Booth provides, its students understand this, and are able to align their recommendations and their business strategies with this approach."

Noting one recent intern experience, Evelyn recalls the significant contributions a Booth student made to new a marketing initiative.

"Coming to the project with very little knowledge of the specific therapeutic area, she was able to lay the foundation," says Evelyn. "She designed the parameters critical to the strategy, provided details on the partnerships needed to meet the strategic goals."

"Our general manager who hosted her had nothing but wonderful things to say. Basically, he said, she 'created the wheel' for this initiative."

Ann Mukherjee

Ann Mukherjee, '94
Chief Marketing Officer, Frito-Lay North America

Ann went beyond traditional marketing with an idea to let fans create and vote on the Super Bowl ad for Doritos. The campaign strengthened consumer relationships and drew $36 million in media coverage.

Read more »

Ann Mukherjee, '94

Chief Marketing Officer, Frito-Lay North America

Within four years of joining Frito-Lay North America, Ann Mukherjee, '94, was promoted to chief marketing officer and has changed the way the firm thinks about marketing.

In 2007, while serving as vice president of marketing, Ann unrolled a plan to buy a 30-second ad spot for the Super Bowl and let Doritos fans create and vote on the winning video to fill the air time.

"Frito-Lay has large, mature brands. To drive ongoing growth of something this big, we had to move beyond traditional marketing," says Ann.

The unconventional tactic not only deepened the brand's relationship with 24- to 26-year old consumers, but also earned $36 million in free public relations and established a firm presence for Doritos in today's converging digital media.

"In the changing environment that we live in today, you have to be nimble enough to drive different frameworks and keep ahead of the pace," says Ann. "When I went through marketing at Booth, I learned to look at a business model holistically and understand the economic value that marketing drove within the model."

The Super Bowl ad tradition continues today, and is one of the many marks Ann has left on the industry. Ann was named Brandweek's Marketer of the Year the same year the Doritos campaign started and has received several other industry awards.

"Chicago Booth taught me to ask the right question and think conceptually. It wasn't about driving to the one perfect answer, it was about teaching me to see the possibilities," Ann says.

"For people who want to understand not only how to market a product or service but how to drive business growth through marketing, Chicago's a fabulous place to study," says Ann. "Chicago isn't about spoon-feeding you the answers, it's about teaching you to ask the right questions."

Banks Baker

Banks Baker, '05
Vice President of Marketing, ClubCorp

After starting his marketing career in Silicon Valley, Banks is using the critical thinking he developed at Booth to reinvent a 50-year-old company.

Read more »

Banks Baker, '05

Vice President of Marketing, ClubCorp

Banks Baker, '05, learned at the beginning of his career that a disconnect between marketing messages and business operations often spells trouble - loss of share or worse - for a company.

After starting his career in Silicon Valley, Banks has focused on connecting a firm's brand promise to its operational structure and ability to execute. Later, while working for a small distressed company, he was charged by the CEO to position the brand, improve sales, and expand new market channels.

"It was a fantastic opportunity to get under the hood and understand how all the parts worked together," says Banks. "The deeper I got in this effort, the farther I got from traditional marketing concepts."

Banks decided to pursue an MBA and return to marketing for start-ups and turnaround companies with a deeper skill set.

"What I lacked at the time were the disciplined components around operational strategy, finance, accounting - the functional areas that were absolutely critical to building a successful brand," says Banks.

"The rigor around these areas at Chicago gave me tools to be a more effective marketer. Regardless of the class, we dissected problems and learned not to lean on convenient summaries."

Now vice president of marketing at ClubCorp, Banks is helping the firm evolve from a holding company that owns multiple clubs to a lifestyle business. Reinventing the 50-year-old company within a traditional industry.

"When you're doing something no one has done before, there is just no marketing book on what to do," says Banks. "You're simply forced, every day, to really look at the research, the data, the numbers, and constantly ask questions so that you can cut your way through to a solution."

Aaron Conrow

Aaron Conrow, '04
Associate Brand Manager Colgate Palmolive (2007 - 08)

While with Colgate-Palmolive, Aaron became an active recruiter and sought Chicago students to infuse the industry giant with Booth talent.

Read more »

Aaron Conrow, '04

Associate Brand Manager Colgate Palmolive (2007 - 08)

As associate brand manager for Softsoap liquid hand soap from 2007 to 2008, Aaron Conrow, '04, appreciated how the approach to marketing at Colgate-Palmolive mirrors Chicago Booth's. Both places value analytical rigor in a team-focused environment.

He quickly initiated a recruiting relationship with Booth after joining the firm in 2007, posting job openings and inviting students to visit the New York office.

"The Chicago curriculum provides both quantitative individual coursework and qualitative group-oriented casework," says Aaron, now product manager at J.M. Smucker Company. "Students are stretched in both directions."

"In many classes, students conduct data-driven analytics and are evaluated individually. In other classes, they work within a team and succeed by bringing out the best in their teammates," he adds. "The ability to excel at qualitative teamwork and quantitative analytics is highly applicable for the real world, and it sets Chicago students apart."

In the years since earning his MBA, Aaron has seen how the background in fundamentals and collaboration with a diverse student body at Booth gives students a competitive edge among their peers.

"Booth students come from all around the world. They also have tremendously varied professional backgrounds, from accountants and investment bankers to nonprofit leaders and advertising executives," says Aaron. "To succeed at Booth, you need to be a valuable team player who can work well with people who have diverse backgrounds.

"While students take their studies seriously, academic competitiveness stays collegial. It's more of a collaborative environment than many people would assume."

A background in core disciplines like finance and accounting combined with the opportunities to pursue leadership roles within student groups provide students with an added dimension of preparedness at graduation, says Aaron. They often make appealing marketing and brand candidates and are set on track for general management.

"The people who run the organization tend to come from marketing, and to advance through the ranks, you need to have the skills of a general manger who can oversee the entire business," says Aaron.


Aaron joined J.M. Smucker Company as product manager in 2008.

Meghan Friesen

Meghan Friesen, '09
Product Manager, Progressive Insurance

Transitioning her career from financial services, Meghan Friesen, '09, received mentoring from Karen Katen, AB '70, MBA '74, that helped her plan for long-term success in marketing.

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Meghan Friesen, '09

Product Manager, Progressive Insurance

"As a career switcher, I chose Chicago Booth because I needed a good basis in the fundamentals," says Meghan Friesen, '09, now product manager for Progressive Insurance. "What really helped, though, was being able to work with Karen [Katen, AB '70, MBA '74]."

As a 2007 Marketing Fellow, Meghan was matched with Karen Katen, AB '70, MBA '74, senior advisor at Essex Woodlands Health Ventures LLC, through the Kilts Center for Marketing to receive one-on-one mentoring.

"She has a lot of insight, like what to look for in a company if you're searching for one that's going to last a long time or has a culture where you think you can excel," says Meghan.

"Karen has been through all the stages of career progression, from starting right out of business school to the top, and she was able to give me a snapshot of what it's like at every level."

Prior to Chicago Booth, Meghan worked at Yahoo! as a senior financial analyst, and later at Progressive Insurance as a marketing process analysis before returning to the firm after graduation.

"At Progressive Insurance, I had a chance to work with the marketing staff on analytics, and I realized I wanted to go into marketing," says Meghan. "The idea of working at a company that produces a tangible product seemed exciting to me."

Taking advantage of Booth's flexible curriculum, Meghan structured her courses to prepare herself for a position in marketing, both immediately following graduation and as her career matured.

"I asked her about what kind of courses would add value in the long run in addition to marketing classes, and she said, 'Finance, finance, finance!'" says Meghan. "She said as you move higher in a company, you have to be able to speak intelligently about the finance aspects of the business and really understand what's going on there."

"My tendency was to focus on my first job after graduation, but she'd asked, 'Long term, which classes will help? What kind of relationships do you want to develop?'"

Karen Katen

Karen Katen, AB '70, MBA '74
Senior Advisor, Essex Woodlands Health Ventures LLC
2007 Marketing Mentor

With more than 30 years of experience at Pfizer, Karen Katen, AB '70, MBA '74, helped Marketing Fellow Meghan Friesen, '09, launch her career in marketing.

Read more »

Karen Katen, AB '70, MBA '74

Senior Advisor, Essex Woodlands Health Ventures LLC
2007 Marketing Mentor

Before retiring in 2007, Karen Katen, AB '70, MBA '74, had spent more than 30 years with Pfizer, most recently holding the position of vice chairman and president of Global Pfizer Human Health.

Responding to an invitation from Booth classmate Jim Kilts, '74, founder of the Kilts Center for Marketing, Karen provide one-on-one mentoring for Marketing Fellow Meghan Friesen, '09.

"Meghan and I talked regularly, often about specific questions she had emailed me," says Karen, who helped Meghan structure her time at Booth around the goal of long-term career success in marketing.

"I advised her as I would any career manager: get the full breadth of skills. Your prospects and career opportunities will be as much a factor of your adaptability as your core talent."

While students at Chicago Booth seek a diverse range of career paths after graduation, says Karen, they all share one goal while at Booth: to get an outstanding business education. Booth's holistic approach, regardless of the concentration, prepares them to meet business problems from a cross-functional view, she says.

"For those who focus on financial skills, this has to mean really knowing the 'hows and whys' of marketing," says Karen. "Whether they ultimately deal with customers, clients, investors, or constituents, the science and skills of marketing apply."

"But for those who focus on marketing, the same holds true for financial disciplines. You can never be a great executive or a great marketer without solid financial abilities."

This broad range of coursework prepares students for success at graduation and long into their careers as alumni, says Karen. "I have always found that some of the most satisfying business experiences involve multiple disciplines," she adds.

Of her mentoring experience with Meghan, "We all learn. We all win," Karen says. "That is the beauty of this mentoring experience - seeing energetic, young people posing new questions and interacting with real world experience for new learning."

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