Marketing Fundamentals - BUAD 307



[pic] |Marketing Fundamentals - BUAD 307

| |

| |Syllabus – Fall 2008 – Monday Lecture Class |

| |Professor: Rex Kovacevich |

| |Office: Accounting Building 234B |

| |Office Phone: (213)740-5045 |

| |E-mail: rex.kovacevich@marshall.usc.edu |

Class Times/ Locations:

Lecture Sessions > Mondays 12:00 - 1:50 (Edison Auditorium)

Discussion Classes > Mondays 4:00 – 5:50 (HOH 422),

Tuesdays 12:00 – 1:50 (HOH 303), 4:00 – 5:50 (BRI 5)

Wednesdays 8:00 – 9:50 (HOH 305), 12:00 – 1:50 (WPH 207)

Office Hours:

Tuesdays 2:00 – 3:00 and Wednesdays 10:00 – 11:00, or by appointment

Why take this course? Marketing involves a relatively simple process - assessing the market, establishing a plan, implementing the plan, and assessing the results. However, the process is loaded with challenging and complex elements such as competitive actions, buyer behavior, company capabilities, and other environmental influences – most over which managers have little direct control.

Among business disciplines, marketing is the primary contact point between an organization and its customers. This class will help you learn how marketing enhances an organization’s ability to evaluate market opportunities, understand buyers’ needs, attract purchasers, and build customer relationships. Business majors and non-business majors will benefit by taking this course because nearly everybody uses some form of marketing during their career.

Course Description: BUAD 307 is a fundamentals course. Emphasis is placed on providing a solid grounding in basic marketing terms and concepts. The course also begins to develop a general management viewpoint in the analysis, development, and evaluation of marketing decisions.

Prerequisites: None

Course Objectives: The objectives for this course are to develop your ability to contribute to general marketing management decision-making. This course will help you develop the following:

❑ Essential Objective…understanding of fundamental marketing terms, concepts, principals, and theories.

❑ Important Objective…understanding the close relationship between marketing and other functions within an organization.

❑ Important Objective…critical thinking and communication skills relating to marketing.

❑ Important Objective…ability to work with others in developing a marketing strategy.

Required Materials: MKTG, by Lamb, Hair, and McDaniel, Thomson/Southwestern 2008

Course pack containing six marketing book summaries, Fall 2008

Differentiate or Die The Discipline of Market Leaders

by Jack Trout and Steve Rivkin by Michael Treacy / Fred Wiersema

Practical Marketing Research The New Positioning

by Jeffrey L. Pope by Jack Trout / Steve Rivkin

Relentless Scoring Points

by Johny K. Johansson by Clive Humby and Terry Hunt

and Ikujiro Nonaka with Tim Phillips

Course Notes: Copies of the lecture slides, and other class information are available through your Blackboard account.

GRADING

|Assignments |Points |% of Grade |

| | | |

|TESTS Test 1 | 80 |22.8% |

| Final |120 |34.3% |

| | | |

|MARKET RESEARCH PARTICIPATION | 10 | 2.9% |

| | | |

|CLASS PARTICIPATION | | 40 | 11.4% |

| | | |

|STRATEGY GROUP PROJECT - Marketing Mix Development |100 | 28.6% |

| | | | | | | |

| TOTAL |350 | 100.0% |

Final grades represent how you perform in the class relative to other students. Your grade will not be based on a mandated target, but on your performance. The average grade for this class last semester was about a B. Three items are considered when assigning final grades:

1. Your average weighted score as a percentage of the available points for all assignments (the points you receive divided by the number of points possible).

2. The overall average percentage score within the class.

3. Your ranking among all students in the class.

|Academic Integrity |

| |

|Please ensure that all of your work is done with the utmost integrity. Based on the Marshall Instructional Guide & Procedures Handbook, the |

|following represent behavior that would be judged academically dishonest. This list is not intended to be exclusive or exhaustive. |

|Examination Behavior – Any use of external assistance during an examination, including, but not limited to the following: |

|Communicating with another student. |

|Copying material from another student’s examination. |

|Allowing another student too copy from your examination. |

|Using unauthorized notes or aids. |

|2. Fabrication - Any intentional falsification or invention of data or other information |

|3. Plagiarism – is the appropriation and subsequent use of another’s ideas or words as your own. |

| If another’s ideas or words are used, acknowledgement of the original source must be made. |

|4. Other Types of Academic Dishonesty include the following |

|Submitting a paper written by or obtained from another. |

|Using a paper or essay in more than one class, without the teacher’s express permission. |

|Obtaining a copy of an examination in advance, without the knowledge or consent of the teacher. |

|Using another person to complete class assignments, without the knowledge or consent of the teacher. |

|Academic Accommodations for Students with Disabilities |

|Any student requesting academic accommodation based on a disability is required to register with Disability Services and Programs (DSP) each |

|semester. A letter of verification for approved accommodations can be obtained from DSP. Please be sure the letter is delivered to me (or |

|your lab instructor) by February 1. DSP is located in STU 301 and is open 8:30 a.m. – 5:00 p.m., Monday through Friday. Their phone number is|

|(213) 740-0776. |

| |

|Please note that it is the student’s responsibility to manage the scheduling process with the DSP. Failure to meet any DSP scheduling |

|deadlines will likely mean you will not have special accommodations. |

GRADING DETAIL

2 Exams

❑ The first test (80 points) will include 25 multiple-choice questions (2 points each), and 5 T/F questions (2 points each), 5 fill-in the blank questions (2 points each), and a short essay question (10 points).

❑ The final exam (120 points) will be 50 multiple-choice questions (2 points each), and 10 T/F questions (2 points each). The final will emphasize material covered after the second exam, but will include 10 questions based on material covered prior to test 2.

❑ Notes, books, calculators, electronic dictionaries, regular dictionaries, cell phones or any other aids are not allowed during exams. I will be happy to answer questions regarding the meaning of non-marketing words or phrases.

❑ For both exams, bring a #2 pencil. I will provide the Scantrons.

❑ Make-up test times must be approved and scheduled at least 48 hours before the exam. If a last minute emergency precludes you from taking the test, proper documentation must be provided. Make-up tests that are not pre-arranged will be penalized 10%. Students will be required to provide documentation to support make-up requests. A student will be regarded as taking a “late” exam anytime after the first member of their scheduled lecture submits a completed test.

❑ Any challenges to exam scoring must be raised with me by 4:00 p.m. on the Thursday following the return of exam results.

❑ You may be asked to show proper identification before, during, or after the test. Please bring your USC ID with you.

Attendance

❑ I may give up to five unannounced attendance quizzes during the semester. The attendance quizzes don’t figure directly into your grade, but alert me to your commitment to the class.

❑ Attendance will also be taken intermittently during discussion sections for the same reason.

Participation (40 points)

➢ Most of your participation grade will be based on the contributions you make during discussions about the six book summaries included in your course pack.

➢ Other class material may also be discussed.

➢ Prior to discussion, I will post questions to assist your preparation.

➢ Bring 3 X 5 index cards to every class with your name listed on each. You will hand one of these cards to me following each comment that you contribute.

➢ During discussions, I will evaluate student comments using criteria similar to what is listed below. These points aren’t meant to add up to your final score, but will be used to compare your overall performance to the performance of other students in your lab, and converted to a 0 to 40 point scale.

| |-2 |Disruptive behavior |

| |0 |Student was present, but did not participate and cannot be evaluated. |

| |1 |Fair to poor contribution in which the student uses general information rather than information covered in class or the |

| | |reading, or is merely reacting to others, or repeats what has just been said, or repeats wording in the reading without |

| | |building on the point. |

| |2 |Good contribution, showing preparation and relevance to the class. Ideas are fairly well substantiated and somewhat |

| | |persuasive. |

| |3 |Excellent contribution. This type of contribution shows special insight and helps raise the awareness level and/or |

| | |discussion level of the class. Ideas are important and relevant, and provide a meaningful direction for the class. |

| | |Ideas are substantiated and persuasively presented. |

Market Research Exercise (10 points)

❑ All students will be asked to participate as a respondent in two research studies sponsored by Marketing Department faculty.

❑ Each market research session will not last more than 50 minutes.

❑ Different studies covering different marketing topics will occur throughout the semester. Students may select the session that fits their schedule.

❑ Available times and dates will be communicated via e-mail.

❑ Sign-up procedures will be explained in class.

❑ Students not honoring their reserved seat for a research study will not be penalized for their first “no-show.” Each subsequent “no-show” earns a 5 point deduction. A “no-show” occurs when a student cancels less than 24 hours before the study or simply does not attend.

❑ Should you object to participating in research studies, let me know by September 20 (end of week 4), and I will provide you with topics for which you can write two papers (2 to 3 pages each) in lieu of participating in the studies. Each paper is graded and is worth up to 5 points.

Group Marketing Project (100 points)

Group Project Objectives:

➢ To develop a mini-marketing plan for a new product, service, or line of products with an emphasis on the development of an original marketing mix.

➢ To develop an understanding of the synergistic effects of the marketing mix.

➢ To resolve issues and develop a plan within a group.

➢ To develop presentation experience.

Assignment:

For an existing company of your choosing, develop a new product or different version of an existing product. Services are OK too. Create and explain the marketing plan for that product. Project will be done in a group of 5 people (there may be a few groups with 4 or 6 people). The assignment is completed with a 16 minute class presentation (plus 3 minutes for questions). Consider your audience to be an investor group or a senior management group. You are trying to sell your strategy as a smart business move.

Paper Components

Format: 2 pages - - single-spaced - - 12 point font - - OK to use bullet points - - identify any outside sources used (if any) on an attached third page

The components of the paper are the following:

|Major Headings: |Key question to address: |

| | |

|Product Idea |In 2 to 4 lines, what is your product or service idea? |

|Company |What does your company do well that indicates it has needed competencies to pursue this |

| |opportunity? |

|Customers |What are your targeted customers’ characteristics? |

| |What targeted customer need are you addressing? |

| |How do these customers make buying decisions? |

| |How many potential customers exist? |

|Competition |Who do you see as your competition and why? |

|Context |What is happening (has happened) in the marketing environment to lead to this |

| |opportunity? |

Basic Presentation Components (16 minutes not including follow-up questions and answers):

➢ Product - Describe your product. What is it? What are its traits and attributes? What benefits will your product provide to the target audience, and why should they care?

➢ Need – Highlight key information from your paper that establishes the opportunity. Describe your target audience. Describe significant competitors.

➢ Introduction – Introduce your company and the opportunity you are looking to fill. Describe the target audience. Provide highlights from your environmental analysis.

➢ Distribution - How do you plan to distribute your product? Why? Why is your distribution plan appropriate for the target market?

➢ Price - What are your pricing objectives? Relative to other choices your target audience has, why will your targeted group see value in the price you have set?

➢ Marketing Communications - Describe and support your promotion plans. Describe your promotion strategy and show executions of the strategy. Describe how your strategy fits with the target market, and how the strategy enhances the positioning you are after in the market.

➢ Questions (3 additional minutes)

Deliverables

Paper and a hard copy of your PowerPoint slides (six to a page, pure black and white) are due one week before the first presentations scheduled for your discussion section.

Peer Evaluation:

Following the completion of your presentation, group members will be asked to assess each of their team member’s contributions. This assessment will be used to determine what percentage of the group’s score each person will receive. To accomplish this, I will give each member points to allocate among all of the team members (including themselves).

For example, each student within a 5 person team will be given 500 points to allocate among all the members. If the student judged that all the members made equal contributions, then she would allocate 100 points to each, including herself. However, if she judged that four of the members had to continually compensate for the poor performance of a fifth member, then maybe the four students would be allocated 106 points each, and the fifth member only 76.

Not every group member is going to be a star, and not every group member is going to have the same talents, but every member is expected to attend group meetings and make regular contributions to enhance their group’s chances of success.

Ground Rules:

➢ The project may be based either on a totally new product concept, or around a line or brand extension.

➢ No science fiction products. No illegal products. No alcohol related products. No washer/dryer combinations, or tooth brushes with toothpaste in the handle.

➢ Target market must have a minimum of 10 potential customers.

➢ Tone of the presentation should be as if you are presenting to a group that can fund your idea (i.e. senior managers, investors, venture capitalists, etc.).

➢ Time limit is 16 minutes. 16 ½ minutes is OK, but beginning at 17 minutes, you’ll lose 2 points for each additional 30-second block the group uses.

Project Grading:

The project is worth 100 points. The paper is worth 10 points and will be graded by me. The presentation grade is worth 90 points and will have two parts, a student evaluation of the presentation (50 points) and a professor evaluation of the presentation (40 points).

I will score presentations using criteria listed on the attached “Evaluation Sheet for Marketing Strategy Presentations.” A blended score will be developed and then used to rank and score each team out of 40 points.

Students will evaluate each presentation using the same sheet, and then rank the 7 other presentations they watch. Only the rankings will be used for determining scores from students. The highest ranked team among all the discussion sessions will earn 50 points. For all other teams, a point scale will be developed within each discussion class based on the top ranked team earning 48 points and the fourth ranked team earning 42 points. No team completing the entire assignment will earn less than 36 points based on the student rakings. The following example will help illustrate:

Rank Group Blended Rank Points

|1. |Group #5 |1.4 |48 |In this example, the difference between |

|2. |Group #2 |1.9 |47 |the blended ranking of the 1st ranked |

|3. |Group #6 |2.6 |45 |team and the 4th ranked team is 2.2. |

|4. |Group #1 |3.6 |42 |This also aligns with a 6 point score |

|5. |Group #4 |4.2 |41 |difference. Therefore, each tenth of |

|6. |Group #8 |4.6 |39 |a point ranking difference is worth |

|7. |Group #7 |5.1 |38 |.27 points. Scores are tabulated off the |

|8. |Group #3 |6.1 |36 |4th ranked team. Rounding is applied. |

Your group is required to submit a 1 to 3 sentence description of your

product idea during your discussion session on October 21st, 22nd or 23rd.

Failure to do so will result in a 5 point penalty.

******************************************************************************

Evaluation Sheet for Marketing Strategy Presentations

Your Name:___________________________ Group Evaluated:____________________ Rank:_______

Completeness (20%)

• The market opportunity, target segment, positioning, and marketing mix were complete and adequately covered.

Strongly Strongly

Disagree Disagree Agree Agree

|1 |2 |3 |4 |5 |

|│ |│ |│ |│ |│ |

Logic (20%)

• There was a clear and logical relationship among the identified opportunity, the target market, the positioning and the recommended marketing mix.

• The synergy among the marketing mix elements was clear.

|1 |2 |3 |4 |5 |

|│ |│ |│ |│ |│ |

Creativity (20%)

• The marketing recommendations were unique.

• The strategy did not seem fairly obvious or common for a product like this.

• Imagination was evident

|1 |2 |3 |4 |5 |

|│ |│ |│ |│ |│ |

Presentation Quality (20%)

• Well planned and conducted.

• All members had active parts and made a significant contribution.

• The presentation was clear, and held my interest.

• The group appeared to really believe in their plan.

• Audio/visual elements were appropriate

|1 |2 |3 |4 |5 |

|│ |│ |│ |│ |│ |

Overall (20%)

• The group convinced me that this strategy will be a success

|1 |2 |3 |4 |5 |

|│ |│ |│ |│ |│ |

Comments: ______________________________________________________________

________________________________________________________________________

CLASS SCHEDULE

|Week |Day |Date |Topic | |

|1 |Monday |8/25 |Introduction – Why Marketing? | |

| |Discussion | |Marketing Overview |Chapter 1, pages 2 - 12 |

|2 |Monday |9/1 |Labor Day Holiday | |

| |Discussion | | | |

|3 |Monday |9/8 |Marketing Environment / Marketing Ethics |Chapter 3, pages 28 - 45 |

| |Discussion | |Strategic Marketing Planning |Chapter 2, pages 14 - 27 |

| | | |Discussion – “Differentiate or Die” | |

|4 |Monday |9/15 |Understanding Buyer Behavior - Consumers |Chapter 5, pages 62 - 81 |

| |Discussion | |Competitors and Collaborators | |

| | | |Discussion – “The Discipline of Market Leaders” | |

|5 |Monday |9/22 |Understanding Buyer Behavior - Businesses |Chapter 6, pages 82 - 95 |

| | | |Group Project Assignment Introduction | |

| |Discussion | |Decision Systems and Marketing Research |Chapter 8, pages 112 - 129 |

| | | |Discussion - “Practical Market Research” | |

|6 |Monday |9/29 |Segmenting, Targeting, and Positioning |Chapter 7, pages 96 - 111 |

| |Discussion | |Segmenting, Targeting, and Positioning / |Chapter 7, pages 96 - 111 |

| | | |Project Teams Formed | |

|7 |Monday |10/6 |Test 1 (80 points) | |

| |Discussion | |Product |Chapter 9, pages 130 – 135 |

| | | |Discussion – “The New Positioning” |Chapter 11, pages 160 - 169 |

|8 |Monday |10/13 |Product |Chapter 10, pages 146 - 159 |

| |Discussion | |Discussion – “Relentless” | |

| | | |Test 2 Results | |

|9 |Monday |10/20 |Product |Chapter 9, pages 135 – 144 |

| |Discussion | |Group Project Work Session | |

|10 |Monday |10/27 |Marketing Communications |Chapter 14, pages 212 – 227 |

| | | | |Chapter 15, pages 242 - 244 |

| | | | |Chapter 16, pages 246 - 253 |

| |Discussion | |Marketing Communications |Chapter 15, pages 228 - 242 |

|11 |Monday |11/3 |Pricing |Chapter 17, pages 262 - 277 |

| |Discussion | |Pricing |Chapter 18, pages 278 - 293 |

| | | |Discussion – “Scoring Points” | |

|12 |Monday |11/10 |Channels of Distribution |Chapter 12, pages 174 - 193 |

| |Discussion | |Presentations (100 points) | |

|13 |Monday |11/17 |Personal Selling |Chapter 16, pages 253 - 261 |

| |Discussion | |Thanksgiving Holiday | |

| | | | | |

|14 |Monday |11/24 |Retailing |Chapter 13, pages 194 - 211 |

| |Discussion | |Presentations (100 points) | |

|15 |Monday |12/1 |Class Summation | |

| |Discussion | |Return of Project Evaluations | |

| | | | | |

| | |12/12 |FINAL EXAM…11:00 – 1:00 (120 points) | |

* * NOTE THE FINAL EXAM TIME. IF YOU ENROLL IN THE CLASS, MAKE SURE YOU ARE AVAILABLE DEC. 12…TAKING THE FINAL EXAM EARLY WILL NOT BE AN OPTION* * *

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