From Theory to Practice: Applying Marketing Concepts Across Industries in MBA Programs

Maja Martinovic – Zagreb School of Economics and Management, Filipa Vukasovića 1, 10000 Zagreb, Croatia

Abstract: Teaching marketing to MBA students, particularly managers from diverse industries, can be greatly enhanced by co-creation with students. Standard teaching methods often fail to demonstrate how to apply theoretical concepts to real-world situations, especially in smaller or resource-limited companies. A study involving 30 MBA students working on real company scenarios revealed that knowledge transfer is more effective when participants co-create strategies and tactics using theoretical models alongside industry-specific examples. For example, some industries benefited from a customer-centric approach using the SAVE model instead of the traditional 4P marketing mix. Industry-specific elements are added to the marketing mix, like internal or sensory marketing, PR, or seasonality. This approach aids in comprehending marketing, showing that flexible, situational strategies enhance understanding and retention, particularly when supported by practical applications. The study suggests that co-creation is a valuable method that can benefit academics and students, enhancing the effectiveness of marketing education.

10th International Scientific Conference ERAZ 2024 – Conference Proceedings: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT,  hybrid – online, virtually and in person, Lisbon, Portugal, June 6, 2024

ERAZ Conference Proceedings published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2024 Conference Proceedings: ISBN 978-86-80194-86-8, ISSN 2683-5568,

DOI: https://doi.org/10.31410/ERAZ.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

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