Sociology 358
Markets and Marketing
OFFICE:
PHONE:
HOURS:
TA:
Ken Spenner
Fall 2013
259 Sociology/Psychology
660-5625; kspen@soc.duke.edu
Th 2:30 – 3:30, and by appointment
Gaute Rygh, gr39@soc.duke.edu, by appointment
REQUIRED MATERIALS
(1) Beniger, J., 1986, The Control Revolution: Technological and Economic Origins of the
Information Society. Harvard University Press. [B]
(2) Peter, J. P. and J. H. Donnelly, Jr., 2008, A Preface to Marketing Management. Eleventh
Edition. McGraw-Hill Business Publications. [PD]
(3) Selected readings available on Sakai for links [*], or through Harvard University
Press link (See Sakai for link).
(4) Beginning the week of Sept. 16, a subscription or newsstand copy of Bloomberg Business
Week.
GOALS:
(1) Define markets and marketing in sociological terms; investigate several arguments about
the origins of modern markets and marketing;
(2) Consider and explore the nature of market processes:
(a) with brief review of neoclassical and efficiency approaches;
(b) with significant counterpoint of status, network, transaction cost, and other
institutionalist approaches to market phenomena;
(3) Apply and test our ideas on a weekly basis with structured discussion of material
from each week’s edition of Bloomberg Business Week;
(4) Investigate what firms and managers do in terms of a sociological definition of marketing;
(5) Contend with selected special issues including marketing of services, global
markets, ethics, and the future.
REQUIREMENTS:
Four components determine the final grade in the course: a midterm exam (30%), a
final exam (40%), class participation (10%), and BW market notes and summaries (20%; see
below). There is no required attendance policy but the class participation part of the grade
assumes consistent attendance, participation, and reading assigned materials in advance. Both
exams will be essay. The final exam will include preparation of a marketing plan (due
Wednesday, December 11, at5:00 p.m. (take-home). For each class I expect that you do the
reading in advance and be prepared to discuss and ask questions. You will be called upon
to lead discussion with your comments, views and questions.
I do not use a curve in assigning final grades. The last time I taught the course the final
grade distribution included about 1/3rd A’s, about 45 percent B’s, about 10-15 percent C’s and a
few other grades. This course would not be considered an “easy A.”
Beginning September 16, we will spend each Friday’s class in structured discussion of
that week's BW. My intent is that we use this common, current material as source of examples
and interpretation, and infuse the theoretical parts of the class with a contemporary, "real
world" content. The attached matrix is one device to structure the discussion (also available on
Sakai).
Please follow a "2-5 rule" as a minimum: Each week spend at least two hours reading
the BW---I do not expect you to read all of it---and make at least 5 entries into the matrix that
we are using for that part of the course, and provide at least one detailed story write-up on the
backside. This is the minimum required for a C grade on the news discussion part of your final
grade. At the start, simply list the gist of the story headline and a clause or so as to what is
important from a markets point-of-view. Concentrate your energy on market phenomena in the
first part of the course and on marketing phenomena in the second half of the course. For the
featured stories (back side of matrix, select two BW stories of interest and analyze in context of
class discussion and concepts. During some weeks we will collect and review your entries. We
will adjust these procedures as required. Save your notes because exams will ask you to
document your arguments with evidence and stories from BW.
Finally, I value the Duke Community Standard and expect your full compliance with it
in all exams and assignments. For more information on the Community Standard, consult:
http://honorcouncil.groups.duke.edu/communitystandard.html.
COURSE OUTLINE
Week of:
Aug. 28
Topic and Reading
Introduction
I. A Sociology of Markets: Definitions, Types and Processes.
Elementary definitions & categories; efficiency & institutional views
Aug. 30
*Block, F. "The Market," Chapter. 3 in Postindustrial Possibilities: A Critique
of Economic Discourse."
II. Historical Notes: Markets, the West and Capitalism
Sept. 4
*Chirot, D. "The Rise of the West," American Sociological Review 1985:50
(181-195).
The Rise of Modern Market Form and Marketing in the US
Sept. 6
19th Century Puzzles and Crises: B: Intro., Chs. 4-6
Sept. 11
Production, Distribution and Consumptive Systems==>Marketing
B: Chs. 7-10
III. Status, Institutional, and Transaction Cost Views of Markets
Sept. 16
*Podolny, J. 1993. “A Status-Based Model of Market Competition.” American
Journal of Sociology 98: 829-872.
Sept. 25
*Fligstein, N. 1996. “Markets as Politics: A Political-Cultural Approach to
Market Institutions.” American Sociological Review 61: 656-673.
Oct. 2
*Williamson, O. 1985. The Economic Institutions of Capitalism. Ch 1:
"Transaction Cost Economics," (15-42) and Ch 2: "Contractual Man," (43-84).
Oct. 12-15
Fall Break, no class
Oct. 16
No class; I have to be out of town.
Oct. 9,23
*Grannovetter, M. "Economic Action and Social Structure: The
Problem of Embeddedness," American Journal of Sociology 1985:
91(481-510).
*Uzzi, Brian. 1996. “The Sources and Consequences of Embeddedness for the
Economic Performance of Organizations: The Network Effect.” American
Sociological Review 61: 674-698.
Oct. 25
Midterm Exam
III. Contemporary Marketing: What Do Firms and Managers Do? What Could and
Should They Do?
Oct. 30
Definitions, Methods and Models: PD: Chs 1-4
*Clayton Christensen and Michael Raynor, “Who Are the Best Customers for
Our Products?” From The Innovator’s Soultion: Creating and Sustaining
Successful Growth. Harvard Business Case #1538BC.
Nov. 6
Segmentation and Product Strategies: PD: Chs 5-7
*Dimaggio, P. and H. Louch. 1998. “Socially Embedded Consumer
Transactions: For What Kinds of Purchases to People Most Often Use
Networks?” American Sociological Review 63: 619-637.
Nov. 13
The Marketing Mix: PD: Chs 6-11
Nov. 20
The Marketing Mix (con’t)
*Spenner, Patrick and Karen Freeman. 2013. “To Keep Your Customers, Keep it
Simple” Harvard Business Review May: 108-114. Harvard Reprint R1205G
(available through Havard Business Press website, see Sakai for link)
Nov. 27Dec. 2
No class, Thanksgiving Break
Dec. 4
Dec. 5
The Marketing of Services and International Marketing: PD: Chs 12-13
Ethical Issues in Marketing
*Clayton Christensen, Scott Cook, and Taddy Hall, “Marketing Palpractice: The
Cause and the Cure.” Harvard Business Review Reprint R0512D.