This article reports on a survey of academics with respect to teaching advertising in the first retailing course. Most respondents cover methods of budgeting advertising as part of the course. Furthermore, they report on both the methods they recommend for small and large retailers and the techniques they believe small and large retailers use. The favorite budgeting technique among academics is the objective and task. Academics reflect this as (1) establishing advertising objectives, (2) determining tasks to achieve specified objectives, (3) determining costs for each of these tasks, and (4) totaling the costs. The authors maintain that the implementation of the objective and task approach requires the use of methods of both prioritizing alternative expenditures and setting a cutoff point. These points are often neglected by academics, including textbook writers, when defining the approach. Furthermore, for the most part, a combination of techniques should be used when implementing an objective and task method. Recommendations for the teaching of advertising budgeting in the introductory retailing course are offered.
Pharmaceutical company Genzyme has created a new drug, Renvela, which is a phosphate binder designed to be used primarily by patients with kidney failure. Renvela is a slightly different version of Genzyme's highly successful Renagel. Company executives must now decide how best to launch Renvela. Should it replace Renagel? Should it be a premium version of Renagel? Is it worth launching the product at all? The case appears rather simple on the surface, but the questions are challenging to work through.This case, launched with great success in the 2009 Kellogg Biotech and Healthcare Case Competition, can be used to teach growth strategy and new product strategy. It also provides an introduction to the pharmaceutical industry. Students will be given the opportunity to think critically about the role of innovation, risk, and ethics in healthcare-related firms.
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