Strategic Marketing in Creative Industries
Course Number 1914
Professor Anita Elberse
Fall; Q1Q2; 3 credits
The term "creative industries" refers to industries that supply goods that are commonly associated with artistic, cultural, or entertainment value, such as film, television, music, publishing, video games, the performing arts, sports, fashion, advertising, and other areas within the media and entertainment sector.
The course is primarily designed for students pursuing a career in the creative industries, or who plan to work in companies that advise or support those sectors. It may also be interesting for students seeking to advance their knowledge of strategic marketing in the context of a challenging, rapidly changing environment.
The course starts with an examination of the defining properties of creative industries, and the consequences for "winning" marketing strategies. Subsequent modules explore:
- How can firms best allocate resources across a portfolio of projects and for one project over time? For example, does it pay to pursue a "blockbuster" strategy?
- How can firms best approach the management and marketing of creative talent? In particular, how should companies invest in and capture value from superstars and the teams to which they belong?
- How are digital technologies changing the creative industries? For instance, how are firms affected by - and how can they benefit from - the increased pressure on prices and the larger assortments offered online?
- The course ends with an examination of firms that fall outside the core creative industries but that seemingly face similar challenges or opportunities.
Cases focus on established and emerging firms, products, and personalities in media, sports, and other entertainment industries. Examples include Marvel Enterprises, Grand Central Publishing, Warner Bros., Octone Records, Real Madrid, Manchester United's Sir Alex Ferguson, Maria Sharapova, LeBron James, MGM, Lady Gaga, The Metropolitan Opera, Radiohead, Hulu, Major League Baseball, the NFL, Jay-Z's Decoded, and Marquee.
Course Content and Organization
The course will consist of 28 sessions, and include a brief final project. Grading is based on class participation (50%) and the final project (50%).