Principles of Marketing MRKG 1311 RIL01 Spring I 2016 Term January 4 th February 27th, 2016

Transcription

1 Principles of Marketing MRKG 1311 RIL01 Spring I 2016 Term January 4 th February 27th, 2016 Instructor: Ms. Anda R. Arms, MRCP anda.arms@ctcd.edu or Director.Riley@ctcd.edu Telephone/Text: Course Title: Principles of Marketing Meeting Dates: Tuesday/Thursday 5:30pm-8:00pm *(Tuesdays only if independent study, less than 5 enrolments) Location: Bldg 217, Room 209 Required Reading Material Dave Kurtz, Principles of Marketing, Custom Edition for Central Texas College, 16 th Edition, Course Overview This course is an introduction to the marketing mix functions and process. It includes identification on consumer and organizational needs and explanation of environmental issues. This course, Principles of Marketing, MRKG 1311, is a required course in the Business Management and Marketing and Sales Management degree and certificate programs and the Entrepreneurship certificate program. There are no prerequisites required. This course is occupationally related and serves as preparation for a career in marking or general business management. Learning Outcomes Upon successful completion of this course, students will be able to identify the marketing mix components in relations to market segmentation, explain the environmental factors which influence consumer and organizational decision-making process, and outline a marketing plan. Course Requirements Reading Assignments: Read text assignments prior to class and be prepared to discuss the text material, answering instructor questions orally with well-organized thoughts and ideas. 1

2 Class attendance: Students are expected to attend each class period, be on time and stay the full class period or be counted absent. You are responsible for all course material missed due to absence. The instructor does not provide class notes for classes missed. (Refer to CTC C&I Course Catalog , Academic Policies, page 19 for detailed policy: Current Event Article Report & Presentation: In addition to text readings, students are required to prepare two Marketing-Related current event article reports. Select an article from a current (within the past 30 days) publication (newspaper, news magazine, etc. one must be from the Internet). Summarize the article by stating the main points in your own words. Report must be 3 pages in length, all sources must be cited, APA format. State your conclusions (opinion) about the article in your conclusion paragraph. The summary and your conclusions must not exceed 3 pages. A copy of the article must be furnished with the report. REPORTS MUST BE MAREKTING-RELATED. Grading criteria for the article reports outlined in Grading Section of this syllabus, below. Each student will present two article reports orally to the class (no more than 10 minutes each). Deadlines for turning in the two article reports are in the course schedule. There is a five point penalty for each late report. This requirement counts 50 points on the final grade (20 for each written report and 5 for each oral presentation). Grading Paper and Presentation: Summary of requirements Point Values of Paper and Presentations: Presentation 5 points Introduction/Conclusion 5 points Grammar/Mechanics of Paper 5 points Focus/Sequencing 5 points APA Citations/Bibliography 5 points Total Possible Points 25 points per paper and presentation. 2

3 Exams: There will be two exams, each worth 25 points each, one midterm and one final. Makeup exams will be given only in cases of excused absences. Prior arrangements must be made, no exceptions. Student Preparation & Study Requirements: Each student is expected to develop an effective personal time management and study schedule that will enable him or her to master the learning outcomes listed previously. The instructor will send each chapter s multiple-choice questions from the course test bank to you via your address. It is recommended that you take the time to look up the answers to these questions to reinforce and review the lecture and discussion in the classroom. The midterm and final exam questions will appear exactly as you saw them on the study guides. However, not all the questions provided will be used on the exams, only an average of three or four questions per chapter will appear on your two written exams. It is expected that each student bring the completed study guides during review sessions for the midterm and final exams. Essay advance sheets will be sent to the student via at approximately the second week of class for the midterm exam and at the sixth week of class for the final exam. Students are expected to look up the answers and then use these completed advance sheets as a study guide in preparation for the essay portion of the exams. Your work on the study guides and essay advance sheets are optional, ungraded assignment, its purpose to support the student study materials and assist in preparation for midterm and final exams. Lastly, a good rule of thumb for every hour spent in classroom students can expect to spend two to three hours studying/reading/researching/writing outside of class. Therefore if you are in class for 6 hours per week, expect to spend 12 to 18 hours of study time on your own, depending on the level of course, projects, and assignments. Grading Course grades will be determined by total points earned as follows: Summary of Requirements Point Values: Attendance *Q&A for Guest Speakers Current Event Articles & Presentations (8) Q&A for Class Discussions 25 points 25 points 200 points 50 points 3

4 Midterm Final Project: Marketing Plan Final Exam Total Possible Points 50 points 200 points 50 points 600 points Letter grades will be assigned based on total points earned as follows: % 100 points A 89 80% 80 points B 79 70% 70 points C 69 60% 60 points D 59% & < <59 points F The exam schedule will be provided by the instructor on the first day of class. They type of exam questions will be essay and multiple-choice questions covering definition, concepts, systems, models, and examples from the textbook. There will not be comprehensive final nor open book exams. They will be taken during the class period for which they are scheduled. Arrangements can be made to take the exam ahead of time on a case-basis. See readings schedule for specific exam dates. Academic Policies Course Withdrawal: It is the student s responsibility to officially withdraw from a class if circumstances prevent attendance. Any student who desire to, or must, officially withdraw from a course after the first scheduled class meeting must file a Central Texas College Application for Withdrawal (CTC Form 59). The withdrawal form must be signed by the student. A student who officially withdraws will be awarded the grade of W provided the student s attendance and academic performance are satisfactory at the time of official withdrawal. Student must file a withdrawal application with the College before they may be considered for withdrawal. A student may not withdraw from a class for which the instructor has previously issued the student a grade of F or FN for nonattendance. Administrative Withdrawal: An administrative withdrawal may be administered by the instructor when the student fails to meet College attendance requirements. The instructor will assign the appropriate grade on CTC Form 59 for submission to the registrar. 4

5 Incomplete Grade: The College catalog states, An incomplete grade may be given in those cases where the student has completed the majority of the course work, but because of personal illness, death in the immediate family, or military orders, the student is unable to complete all the requirements for a course. Prior approval from the instructor is required before the grade of an I for Incomplete is recorded. A student who merely fails to show for the final examination will receive a zero for the final and an F for the course. Cellular Phones: Cellular phones and beepers will be turned off while the student is in the classroom. Americans with Disability Act (ADA): Students requiring accommodations for disability are responsible for notifying the instructor. Reasonable accommodations will be granted in full compliance with federal and state law and Central Texas College policy. Instructor Discretion: The instructor reserves the right of final decision in course requirements. Civility: Individuals are expected to be cognizant of what a constructive educational experience is and respectful of those participating in a learning environment. Failure to do so can result in disciplinary action up to and including expulsion. Honesty and Integrity: All students are required and expected to maintain the highest standards of scholastic honesty in the preparation of all course work and during examinations. The following will be considered examples of scholastic dishonesty. 1. Plagiarism: The taking of passage from wring of others without giving credit to the sources. 2. Collusion: Using another s work, as one s own; or working together with another person in the preparation of work, unless joint preparation is specifically approved in advance by the instructor. 3. Cheating: Giving or receiving information on examinations. Students guilty of scholastic dishonesty will be administratively dropped from the course with a grade of F and will be subject to disciplinary action. Students guilty of scholastic dishonesty will be administratively dropped from the course with a grade of F and will be subject to disciplinary action. 5

6 Schedule Week 1 Unit 1: 5 th January 2016 Tuesday: Introductions, discuss syllabus, & course requirements, Chapters 1, 2, 3, complete student contact sheet, and class participation/discussion. 7 th January 2016 Thursday: Chapters 4, and 5 Current Event Article Presentation #1 Due/Class Discussion: Write a current event summary of one of the following topics, for one company s: Marketing Plan; Strategic Plan; Marketing Environment, Ethics, Social Responsibility; Social Media; or E-Business examples. Bring in an example of a company s executive summary; company description; mission statement; goals; core competencies. Marketing Plan: Executive Summary #1 Due: 1. Executive Summary (who, what, when, where, how, & why) 2. Description of Company (brief history or background; types of products or plans to introduce; recent successes or achievements) same information often found on company s homepage. 3. Mission Statement (overall purpose & reason for being). 4. Goals Financial & Nonfinancial (quantitative & qualitative) 5. Vision declaration of a company s objective s ideally based on economic foresight, intended to guide internal decision-making. 6. Core Values how do you want to interact with your internal customers, your consumers? What are your companies values of how to conduct business, protect the environment? 7. Core Competencies (Reminds employees & those outside company, potential lenders, exactly what your company does so well and how it plans to achieve a sustainable competitive advantage) 6

7 Week 2 Unit 2: 12th January 2016 Tuesday: Chapters 6, 7, class participation/discussion. 14 th January 2016 Thursday: Chapter 8, class participation/discussion. Current Event Article Presentation #2 Due/Class Discussion: Write current event summary of one of the following topics of how a company: Market s Consumer Behavior; Business to Business (B2B) Marketing; or a Global Marketing example. Bring in an example of Situation Analysis; SWOT Analysis; or Competitive Analysis of a company. Marketing Plan: Competitive Analysis #2 Due: 1. Situation Analysis (outline of marketing environment) 2. SWOT Analysis (thumbnail sketch of company s position in the marketplace). 3. Competitive Analysis of Environment (who are competitors; what is the outlook for the industry in general; trends in industry; trends in global market; consumers behavior; what factors specifically influencing marketing). How will you conduct your analysis (survey, online, onsite?) 7

8 Week 3 Unit 3: 19 th January 2016 Tuesday: Chapters 9, st January 2016 Thursday: Chapter 11. Current Event Article Presentation #3 Due/Class Discussion. Write current event summary of one of the following topics of a company s: Market Segmentation, Target, Position; Market Research & Sales Forecast; and/or Relationship Marketing & Customer Relationship Management (CRM). Bring in an example of a small business finance option: Small business loans &/or grants; cash advance against credit card; loan for equipment purchase; equipment lease; commercial mortgage loan) Marketing Plan: Financial Analysis/Budgeting #3 Due: 1. Small Business Startup Plan (Online lending; factoring/invoice advances; product presales; friends & family; side business; home equity loan; selling assets; credit cards; Angel Investors; Venture Capitalists; Winning a contest; Renting out your home; Crowdfunding; Grants; ) 2. Funding Sources: U.S. Small Business Administration (Loans/Grants); U.S. Treasury (Small Business Lending Fund); 5 ways to fund small business (Kiplinger); How to Raise Money for your Business (Entrepreneur); How to get Funding rom Angel Investors (The Wall Street Journal). 3. Financial and Nonfinancial Aims: (qualitative & quantitative) 8

9 Week 4 Unit 4: 26th January 2016 Tuesday: Chapter 12, th January 2016 Thursday: Chapters 14 and 15. Current Event Article Presentation #4 Due/Class Discussion. Write current a event summary on one of the following topics of a company s: Product and Service Strategy; and/or Developing/Managing Brand & Product Categories or example of each. Bring in an example of company s marketing mix; their product strategy; how they distribute their product or services; how they promote their product or services; how they price their product or service (in comparison to their competitors). Marketing Plan: Target Market & Marketing Mix #4 Due: 1. Target Market identify who are your potential consumers are: age group, socio-economic status; preferences. What is potential consumer s behavior; active, outdoors, TV watchers, etc. Is there opportunity to expand into other markets? 2. Marketing Mix Identify strongest part of your marketing mix; sales promotions; public relations; nontraditional marketing strategies (such as outdoor events & organizing activities like day hikes, bike rides, etc. 3. Product Strategy What time frame do you wish to offer your product or service and which product line? Do you wish to expand and if so when, by what benchmark do you wish to expand your business, time frame? 4. Distribution Strategy How will you distribute your product or service? Bricks and mortar or online? Mail Order? Local, national, or international? 9

10 Week 5 Unit 5 2nd February 2016 Tuesday: Review Midterm 4 th February 2016 Thursday: MIDTERM: Week 6 Unit 6: (Thursday) Midterm Exam Units th February 2016 Tuesday: Chapter th February 2016 Thursday: Chapter 17. Current Event Article Presentation #6 Due/Class Discussion. Write a current event summary of one of the following topics of a company s: Distribution and/or Promotion Strategy. How does a company distribute or promote their product. Bring in an example of company s promotion strategy. Week 7 Unit 7: Marketing Plan Section #6 Due: 1. Promotion Strategy How will you promote your product or service? 16th February 2016 Tuesday: Chapter 18, th February 2016 Thursday: Current Event Article Presentation #7 Due/Class Discussion Write a current event summary of a company s Pricing Strategy. How does a company price their product? Bring in an example of company s pricing strategy. Marketing Plan Section #7 Due: 1. Pricing Strategy How will you price your product or service? 10

11 Week 8 23rd February 2016 Tuesday: Final Marketing Plan Due & Presentations Review for Final FINAL EXAM: 25 th February 2016 Thursday: Final Exam Units 4 7. *Note: If class size is smaller than 5 students, this class will meet once per week, rather than twice. Instructor will call all students on the first day of class and them letting them know which day/time/location to meet. The same volume of course work and learning outcomes are required, regardless if the class meets once or twice per week. Course Outline Unit One: (Chapters 1 5) Designing Customer-Oriented Marketing Strategies Chapter 1: Marketing: The Art & Science of Satisfying Customers Define marketing, explain how it creates utility, and describe how its role in the global marketplace. Contrast marketing activities during the four eras in the history of marketing. Explain the importance of avoiding marketing myopia. Describe the characteristics of not-for-profit marketing. Identify and briefly explain each of the five types of nontraditional marketing. Outline the importance of creativity, critical thinking, and the technology revolution in marketing. Explain the shift from transaction-based marketing to relationship and social marketing. Identify the universal functions of marketing. Demonstrate the relationship between ethical business practices, social responsibility, and marketplace success. Chapter 2: Strategic Planning in Contemporary Marketing Distinguish between strategic planning and tactical planning. 11

12 Explain how marketing plans differ at various levels in an organization. Identify the steps in the marketing planning process. Describe successful planning tools and techniques, including Porter s Five Forces model, first and second mover strategies, SWOT analysis, and the strategic window. Identify the basic elements of a marketing strategy. Describe the environmental characteristics that influence strategic decisions. Describe the methods for marketing planning, including business portfolio analysis and the BCG matrix. Chapter 3: The Marketing Environment, Ethics, & Social Responsibility Identify the five components of marketing environment. Explain the types of competition markets face and the steps necessary for developing a competitive strategy. Describe how marketing activities are regulated and how marketer can influence the political-legal environment. Outline the economic factors that affect marketing decision and consumer buying power. Discuss the impact of the technological environment on a firm s marketing activities. Explain how the social-cultural environment influences marketing. Describe the ethical issues in marketing. Identify the four levels of the social responsibility pyramid. Chapter 4: Social Media: Living in the Connected World Define social media and distinguish between social media platforms and social media tools. Describe the ways in which consumers and businesses use social media for their buying decisions. Outline the elements of a written social media marketing plan. Discuss the importance of setting goals and developing strategies, including targeting an audience, for a social media marketing initiative. Identify the qualities of effective social media content and the rules of engagement with social media. Describe the different means of monitoring, measuring, and managing the social media marketing campaign. Discuss the ethical and legal issues encountered by marketers in social media marketing. Identify the different types of positions in social media marketing, and outline tips for landing an entry-level job. Chapter 5: E-Business: Managing the Customer Experience Describe the growth of Internet use worldwide. 12

13 Define e-business and e-marketing, and list the opportunities e-marketing presents. Distinguish between a corporate Web site and a marketing Web site. List the major forms of B2B e-marketing. Explain business-to-customer (B2C) e-marketing. Identify online buyers and sellers. Describe some of the challenges associated with online marketing and e- business. Discuss how marketers use the communication function of the Web as part of their online marketing strategies. Outline the steps involved in developing successful e-business Web sites and identify methods for measuring Web site effectiveness. Unit Two: (Chapters 6 8) Understanding Buyers & Markets Chapter 6: Consumer Behavior Define consumer behavior and describe the role it plays in marketing decisions. Describe the interpersonal determinants of consumer behavior: cultural, social, and family influences. Explain each of the personal determinants of consumer behavior: needs and motives, perceptions, attitudes, learning, and self-concept theory. Distinguish between high-involvement and low-involvement purchase decisions. Outline the steps in the consumer decision process. Differentiate among routinized response behavior, limited problem solving, and extended problem solving by consumers. Chapter 7: Business-to-Business (B2B) Marketing Explain each of the components of the business-to-business (B2B) market. Describe the major approaches to segmenting business-to-business (B2B) markets. Identify the major characteristics of the business market and its demand. Discuss the decision to make, buy, or lease. Describe the major influences on business buying behavior. Outline the steps in the organizational buying process. Classify organizational buying situations. Explain the buying center concept. Discuss the challenges of and strategies for marketing to government, institutional, and international buyers. Chapter 8: Global Marketing Describe the importance of global marketing from the perspectives of the individual firm and the nation. Identify the major components of the environment for global marketing. 13

14 Outline the basic functions of GATT, WTO, NAFTA, FTAA, CAFTA-DR, and the European Union. Identify the alternative strategies for entering foreign markets. Differentiate between a global marking strategy and a multi-domestic marketing strategy. Describe the alternative marketing mix strategies used in global marketing. Explain the attractiveness of the United States as a target market for foreign markers. Unit Three: (Chapters 9 11) Target Market Selection Chapter 9: Market Segmentation, Targeting, and Positioning Identify the essential components of a market. Outline the role of market segmentation in developing a marketing strategy. Describe the criteria necessary for effective segmentation. Explain the geographic approach to segmenting consumer markets. Discuss the demographic approach to segmenting consumer markets. Outline the psychographic approach to segmenting consumer markets. Describe product-related segmentation. Identify the steps in the market segmentation process. Discuss four basic strategies for reaching target markets. Summarize the types of positioning strategies, and explain the reasons for positioning and repositioning products. Chapter 10: Marketing Research and Sales Forecasting Describe the development of the marketing research function and its major activities. Explain the steps in the marketing research process. Distinguish between primary and secondary data and identify the sources of each type. Explain the different sampling techniques used by marketing researchers. Identify the methods by which marketing researchers collect primary data. Explain the challenges of conducting marketing research in global markets. Outline the most important uses of computer technology in marketing research. Identify the major types of forecasting methods. Chapter 11: Relationship Marketing and Consumer Relationship Management (CRM) Contrast transaction-based marketing with relationship marketing. Identify and explain the four basic elements of relationship marketing, as well as the importance of internal marketing Identify the three levels of the relationship marketing continuum. Explain how firms can enhance customer satisfaction. Describe how companies build buyer-seller relationships. 14

15 Explain customer relationship management (CRM) and the role of technology in building customer relationships. Describe the buyer-seller relationship in business-to-business marketing and identify the four types of business partnerships. Describe how business-to-business marketing incorporates national account selling; electronic data interchange and Web services; vendor-managed inventories; collaborative planning, forecasting, and replenishment; managing the supply chain; and creating alliances. Identify and evaluate the most common measurement and evaluation techniques within a relationship marketing program. Unit Four: (Chapters 12 & 13) Product Decisions Chapter 12: Product and Service Strategies Define product and distinguish between goods and services and how they relate to the goods-services continuum. Outline the importance of the service sector in today s marketplace. List the classifications of consumer goods and services and briefly describe each category. Identify each of the types of business goods and services. Discuss how quality is used by marketers as a product strategy. Explain why firms develop lines of related products. Describe the way marketers typically measure product mixes and make product mix decisions. Explain the concept of the product life cycle. Discuss how a firm can extend a product s life cycle, and explain why certain products may be deleted. Chapter 13: Developing and Managing Brand and Product Categories Determine how to define a brand. Identify the different types of brands. Explain the strategic value of brand equity. Explain the benefits of category and brand management Discuss how companies develop a strong identity for their product or brand. Identify and briefly describe each of the new-product development strategies. Describe the consumer adoption process. List the stages in the new-product development process. Explain the relationship between product safety and product liability. Unit Five: (Chapters 14 & 15) Distribution Decisions Chapter 14: Marketing Channels and Supply Chain Management Describe the types of marketing channels and the roles they play in marketing strategy. 15

16 Outline the major channel strategy decisions. Describe the concepts of channel management, conflict, and cooperation. Identify and describe the different vertical marketing systems. Explain the roles of logistics and supply-chain management in an overall distribution strategy. Identify the major components of a physical distribution system. Compare the major modes of transportation. Discuss the role of transportation intermediaries, combined transportation modes, and warehousing in improving physical distribution. Chapter 15: Retailers, Wholesalers, and Direct Marketers Explain the wheel of retailing. Discuss how retailers select target markets. Show how the elements of the marketing mix apply to retailing strategy. Explain the concepts of retail convergence and scrambled merchandising Identify the functions performed by wholesaling intermediaries. Outline the major types of independent wholesaling intermediaries and the appropriate situations for using each. Compare the basic types of direct marketing and non-store retailing. Describe how much the Internet has altered the wholesaling, retailing, and direct marketing environments. Unit Six: (Chapters 16 & 17) Promotional Decisions Chapter 16: Integrated Marketing Communications, Advertising, and Public Relations Define integrated marketing communications and explain how it relates to the development of an optimal promotional mix. Describe the communication process and how it relates to the AIDA concept. Identify the elements of the promotional mix. Name the three major advertising objectives and the two basic categories of advertising. Identify the major advertising strategies and the process of creating an advertisement. Describe the major types of advertising appeals, and discuss their uses. List and compare the major advertising media. Chapter 17: Personal Selling and Sales Promotion Describe the role of today s salesperson. Describe the four sales channels. Describe the major trends in personal selling. Identify and briefly describe the three basic sales tasks. 16

17 Outline the seven steps in the sales process. Identify the seven basic functions of a sales manager. Explain the role of ethical behavior in personal selling. Describe the role of sales promotion in the promotional mix, and identify the different types of sales promotions. Unit Seven: (Chapters 18 & 19) Pricing Decisions Chapter 18: Pricing Concepts Outline the legal constraints on pricing. Identify the major categories of pricing objectives. Explain price elasticity and its determinants. List the practical problems involved in applying price theory concepts to actual pricing decisions. Explain the major cost-plus approaches to price setting. List the chief advantages and shortcomings of using breakeven analysis in pricing decisions. Explain the use of yield management in pricing decisions. Identify the major pricing challenges facing online and international marketers. Chapter 19: Pricing Strategies Compare the alternative pricing strategies and explain when each strategy is most appropriate. Describe how prices are quoted. Identify the various pricing policy decisions that marketers must make. Relate price to consumer perceptions of quality. Contrast competitive bidding and negotiated prices. Explain the importance of transfer pricing. Compare the three alternative global pricing strategies. Relate the concepts of cannibalization, bundle pricing, and bots to online pricing strategies. 17

18 THIS SYLLABUS IS TENTATIVE AND SUBJECT TO CHANGE 18