Always market to the emotions!
What a year it’s been! And with the end of 2017, the marketing electives of our third semester MBA batch also come to an end. This year, they were offered an even wider variety of courses than ever before. Thanks to the cooperation with other master courses from Hochschule Pforzheim, our MBA students could choose between Brand Management, B2B Marketing, Campaigning & Narrative Communication, Communication Management and Entrepreneurial Marketing with one of our guest professors - not to forget all the consulting and financial electives which were up for choice as well.
From marketing tactics of non-profit organizations to writing an own press release and learning the differences between marketing to a consumer or a business, students who wanted to specialize in marketing definitely got a lot of chances to do so. Through group-work, projects and presentations, the MBAs did not only get a chance to learn and refine their soft-skills but also to get to know other colleagues from a variety of master courses.
The finish line for this year’s courses was marked by Entrepreneurial Marketing with Professor Michael Swenson from Brigham Young University in Utah. Based on a 10-year study of start-ups, Professor Swenson could highlight why entrepreneurs had been successful or unsuccessful in finding and marketing their ideas in the past and presented these insights with fun and insightful real-life examples that even surprised some of our students. Since entrepreneurs usually do not have the same resources as big corporations to market their ideas, the students were introduced to concepts to leverage their product ideas or to efficiently reach a larger target group through the insights of the so-called “love group”. Highlighting that “big problems equal big opportunities for entrepreneurs”, Michael Swenson opened the students’ eyes to think outside of the box to find new products through five tactics. Inspiring them to find their own ideas and to always market to the emotions, student groups got to “invest” into each other’s product ideas in a simulated pitch situation. The most successfully pitched products were then further refined, including a unique focus group concept to “sharpen the competitive angle”. Who knows, maybe one of the final products will be out in the shelfs for sale during next Christmas season, thanks to Professor Swenson’s inspiring course!