INTRODUCTION TO MARKETING—3350—COMPREHENSIVE SYLLABUS – Fall, 2015 ALAN WHITEBREAD OFFICE—W358 HOURS— Usually MWF 9-10, and MW 1-4, or by appointment. Phone: 742-1963 E-Mail: alan.whitebread@ttu.edu Always include your class! Web site : http://awhitebread.ba.ttu.edu REQUIRED TEXT – Introduction to Marketing, Alan Whitebread, ISBN: 978-1-4652-8034-3, Kendall-Hunt. It should be available at the campus Barnes & Noble and Varsity bookstores. DESCRIPTION AND BACKGROUND OF THE COURSE: OBJECTIVES AND ORGANIZATION This course will provide a comprehensive review of the major basic aspects and concepts in marketing. There is a mix of theory and actual business applications of the theory. The student will demonstrate application of all major theories through interactive class participation, and exams. The course will provide a fundamental framework for marketing. It will logically proceed through all the steps required to successfully develop an idea into a product/service market launch using a model that is acceptable to most external funding sources. Sources of information will include the textbook, class lectures and notes, current events, selected items on the web, postings on http://awhitebread.ba.ttu.edu, and library resources. STUDENT LEARNING OBJECTIVES FOR THIS COURSE At the end of the course, students will be able to: Identify and describe current marketing thought and significant trends; Explain how marketing provides benefits to firms, employees, consumers, and stakeholders of all types; Identify and use basic marketing management concepts; Analyze the different types of marketing approaches and when each should be used; Evaluate and explain why marketing is the hub of the business wheel; and Be able to select and apply key marketing concepts to situations in multiple countries. STUDENT LEARNING OBJECTIVES FOR THE BBA DEGREE IN MARKETING At the end of the course, students will be able to: Develop creative solutions to Marketing problems. Define market segments and assess attractiveness. Apply Marketing knowledge to manage relationships. Identify ethical content and decisions. Identify components of a Marketing plan. Identify the implications of globalization. Explain the role of Marketing in the organization and society. METHODS FOR ASSESSING EXPECTED LEARNING OUTCOMES The final grade will be based on demonstrating competence in the exams. The best four of five exams will be 100% of the final grade (25% each). Tests may cover any materials from the beginning of the course with a heavy focus on materials since the previous test including text, lectures, discussions, readings, web sites, and current events. Lectures will expand on the reading materials listed in the syllabus. The following grade scale applies. A = 81% and above B = 74% to 80% C = 67% to 73% D = 60% to 66% F = below 60% All students should be prepared to answer random questions in class—failure to do so could negatively affect their grade. Attendance is required. The student bears total responsibility for complying with the requirements of the course detailed in this syllabus. NOTICE: Late or make-up exams will not be given unless you have an official university approved absence. No extra credit will be allowed. Grades will be available online. Grades will only be discussed in person in my office. Students will find the tests quite difficult if [1] any classes are missed, [2] vocabulary is memorized not learned, [3] the book slides are not studied in detail, and [4] detailed notes are not taken in class! WITHDRAWALS A student will receive a WP [withdraw passing] only if they have a D or better in the course at the time of withdrawal. CLASS CONDUCT Standards of academic honesty will be observed in accordance with TTU policy, as detailed in Operating Policy 34.12. Special accommodations to students with disabilities will be made, as detailed in Operating Policy 34.22. Student absences for the observance of religious holy days will be allowed, as detailed in Operating Policy 34.19. CIVILITY IN THE CLASSROOM Students are expected to assist in maintaining a classroom environment conducive to learning. In order to assure that all students have an opportunity to gain from time spent in class, unless otherwise approved by the instructor, students are prohibited from using cellular phones, beepers, pagers, iPODs, headphones, or similar devices, eating or drinking in class, making offensive remarks, reading newspapers, sleeping, using social media, or engaging in any other form of distraction. You may use a laptop to take lecture notes in my classes but it will be hard to keep up. Inappropriate behavior in the classroom shall result in, minimally, a request to leave class. ADA SYLLABUS STATEMENT Any student who, because of a disability, may require special arrangements in order to meet the course requirements should contact the instructor as soon as possible to make any necessary arrangements. Students should present appropriate verification from Student Disability Services during the instructor’s office hours. Please note instructors are not allowed to provide classroom accommodations to a student until appropriate verification from Student Disability Services has been provided. For additional information, you may contact the Student Disability Services office in 335 West Hall or 806-742-2405. INTRODUCTION TO MARKETING—3350—COMPREHENSIVE SYLLABUS – Fall, 2015 Any changes to this syllabus during the semester will be mentioned in class and will put on the syllabus in bold red font. Each ARTICLE and chapter should be read before the class period. Date(s) Subject(s) 8/26 1-MARKETING—THE HUB OF THE WHEEL AND CONNECTING WITH CUSTOMERS The marketing environment; lifetime value; needs and wants; the marketing mix; customer value and relationships; marketing management philosophies; the marketing concept; ethics and core values; planning and the firm 8/28 & 31 2-STRATEGIC PLANNING; CORPORATE GOALS; AND CORE COMPETENCIES Organizations; designing the business portfolio; core competency; strategic business unit [SBU]; key success factor; marketing myopia; BCG Growth Share Matrix; GE/McKinsey Matrix; hedgehog analysis; Blue ocean strategy; SWOT Analysis; competitive advantage of the firm; Porter’s Three Generic Strategies 8/24 INTRODUCTION TO THE COURSE - Syllabus review followed by how we learn; what you should learn from this course; marketing and you; and thinking like a marketing executive—issues and trends ARTICLE – Your Company Strategy in Pictures http://hbswk.hbs.edu/archive/3020.html 9/2 & 4 3-SCANNING THE MARKET; ETHICS Understanding your environment; forces acting on the environment; some basic economics; Porter’s Five Forces Model; regulation; ethics of competition 9/9 & 11 4-CONSUMER MARKETING [B2C] MARKETS & BUYER BEHAVIOR Consumer buyer behavior; the purchase decision process; the value of a satisfied customer; cognitive dissonance; classification of consumer products; types of buying decisions; Maslow’s hierarchy of needs; consumer behavior – individual and family 9/14 TEST #1 9/16 & 18 5-BUSINESS MARKETING [B2B]—MARKETS & BUYER BEHAVIOR Supply chain concept; B2B marketing; business buyer classification; B2B markets; business market complexity; NAICS; comparison of B2B and B2C markets; classifications of business products; aspects of demand; the Bullwhip Effect; organizational buying; quality approaches; negotiations; government procurement 9/21 & 23 6-MARKET RESEARCH ETHICS AND INFORMATION SYSTEMS The market research process; perspective and framing issues; research types; data and its use; types of samples; scales of measurement; types of statistics; elements of questions and answer sets; problems with questions and answers; data mining; mathematical and statistical methods for business analysis 9/25 & 28 7-MARKET SEGMENTATION AND TARGET MARKETING The what, why, and how of segmentation; a multi-step process; consumer segmentation methods; consumer data sets; consumer and business market segmentation; target market segments criteria; market coverage strategies 9/30 & 10/2 8-DIFFERENTIATION and POSITIONING Differentiation—points of parity, difference, and contention; areas of differentiation; the product concept; differentiation influences product decisions; warranties; positioning; perceptual mapping; positioning strategies; attacking the market; unique selling propositions ARTICLE – How to Create Your USP… http://www.interactivemarketinginc.com/unique-selling-proposition.html 10/5 TEST #2 10/7 9-NEW PRODUCT DEVELOPMENT and IDEA GENERATION Innovation; brand hierarchy; Ansoff’s product/market expansion grid; types of new products; five types of development projects; why do new products fail/succeed; the new product development process; idea generation methods and strategies; test marketing; commercialization; attacking competitors; understanding competition 10/9 & 12 10-PRODUCT LIFE CYCLE AND BRAND MANAGEMENT Product life cycle; product planning; life cycle extensions; product line expansion; brand management; brand positioning and brand values; brand issues; brand decisions; brand loyalty; CBBE; brand personality; brand equity and M&A free cash flow; brand strategies; branding strategies INTRODUCTION TO MARKETING—3350—COMPREHENSIVE SYLLABUS – Fall, 2015 10/14 11-PACKAGING; LABELING and LEGAL ISSUES Packaging and labeling are critical; package functions; package testing; labeling issues; copyrights, trademarks and dilution, patents; trade secrets; knowledge management 10/16 12A- PRICE THEORY; STRATEGY; AND TACTICS – #ESTABLISHING VALUE #1 Price philosophies; price and value; sources of value; features, advantages, benefits, value and perception; pricing objectives; understanding demand functions; cost; volume; and profit ARTICLE – Sell Features; Advantages; and Benefits http://www.presentation-pointers.com/showarticle/articleid/316/ 10/19 12B-PRICING THEORY; STRATEGY; AND TACTICS - #2 IMPLEMENTATION Price strategies; new product, product mix, competition based, psychological, geographical, promotional; cost-plus pricing and break-even analysis; price changes; the legal side of pricing 10/21 TEST #3 10/23 13A-SUPPLY CHAIN MANAGEMENT [SCM] – AN OVERVIEW Supply chain management; the many aspects of quality; contingency theory; supply chain management model; automotive industry supply chain model; external and internal supply chains; interdependence; value in SCM; supply chain strategies 10/26 13B-SUPPLY CHAIN MANAGEMENT – LOGISTICS Modern logistics management; logistics processes; total logistics cost approach; cycle time; lead times; order processing; transportation alternatives; inventory management; international cycles; 3PLs 10/28 & 30 13C-SUPPLY CHAIN MANAGEMENT – CHANNELS OF DISTRIBUTION The importance of distribution; the multiplicative effect; functional levels; types of channel members; vertical marketing systems; distribution intensity; roles; expectations; and controls for channel members; channel maps; channel conflict, evaluation, and channel relationships ARTICLE – Prioritizing Distribution Options http://www.toolkit.com/small_business_guide/sbg.aspx?nid=P03_6040 ARTICLE – Case Study – Alice’s Dressings http://web.mala.bc.ca/weaverd/Mark364/Alices%20family%20restaurant.doc 11/2 14A-INTERNATIONAL MARKETING: INTRODUCTION; TRADE AREAS; AND MARKET ENTRY Country economic structure; Porter’s Diamond Model; WTO issues; trade areas – EU, NAFTA, ASEAN, Mercosur; aspects of culture; selecting foreign markets; foreign market entry alternatives 11/4 & 6 14B-INTERNATIONAL MARKETING: LOGISTICS; INCOTERMS; AND TRADE FINANCE Global brand issues; international transaction cycles; international distribution and logistics; INCOTERMS; trade finance issues; Letters of Credit 11/9 TEST #4 11/11 15-RETAIL MARKETING – A CHANGING WORLD Retailer classification systems; retail formulas; site selection; atmospherics; merchandise management 16-SERVICES MARKETING Services marketing; goods-services comparison; service purchase factors; services-goods continuum; service excellence; assessing service quality 11/13 17A-INTEGRATED MARKETING COMMUNICATIONS [IMC]: AN OVERVIEW Building an integrated marketing communications plan; the promotional mix; the communications process; push and pull strategies; AIDA; promotion budget strategies 17B-INTEGRATED MARKETING COMMUNICATIONS: ADVERTISING; PROMOTION; AND PUBLIC RELATIONS Types of advertising; implementing the advertising program; advertising challenges; B2C and B2B promotion; public relations; IMC challenges 17C-INTEGRATED MARKETING COMMUNICATIONS: DIRECT MARKETING Major benefits of direct marketing; the role of direct marketing; direct marketing alternatives 11/16 18A-PERSONAL SELLING: ETHICS; ISSUES; REQUIREMENTS; SKILLS INTRODUCTION TO MARKETING—3350—COMPREHENSIVE SYLLABUS – Fall, 2015 Sales responsibilities; major sales approaches; sales functions; prospect to great customer; the prospect funnel; sales cycle and AIDA; territory management; traits of good sales personnel 11/18 18B-SALES FORCE MANAGEMENT Role of sales management; sales management issues; types of sales forces; sales force structures; recruitment, selection, training, and development; account management grid; sales force compensation; sales evaluation 11/20 TEST #5 11/23 SPECIAL MARKETING TOPICS: Christmas Marketing – on your own 11/30 SPECIAL MARKETING TOPICS: CAREERS DISCUSSION 12/2 SPECIAL MARKETING TOPICS: CAREERS DISCUSSION – continued if necessary