PRINCIPLES OF MARKETING BMGT 350 Spring 2012 Professor: Office: Phone: E-mail: Office Hours: Class Meetings: Dr. Roxanne Lefkoff 3455 Van Munching Hall (301) 405-2122 rlefkoff@rhsmith.umd.edu (best way to reach me) M/W 12:30-1:30 and by appointment. Section Days Time Room 0101 M/W 9:30-10:45 1330 Van Munching 0201 M/W 11:00-12:15 1330 Van Munching 0301 M/W 2:00- 3:15 1330 Van Munching 0401 M/W 3:30- 4:45 1330 Van Munching Course Objectives & Method of Instruction: Virtually every major business decision involves marketing issues. The objective of any company is to create a product or service, sell it to customers, and make money doing so. Understanding marketing is critical to any successful business. The purpose of this course is to provide you with insight into the theory and methods of marketing management. The basic objectives of the course are to provide you with a broad introduction to marketing concepts, the role of marketing in the firm, and the various factors that influence marketing decision making. Like other introductory survey courses, you will be exposed and expected to learn marketing terminology, concepts, and frameworks used by practicing marketing managers. The course will be taught with a combination of lectures, videos, case discussions, and readings. To get the most from class, it is important that you come to class prepared to discuss the assigned readings and cases. See Attachment 1 for the schedule. Required Course Material Please note that you need the most recent edition of the textbook so you will have the access code to online materials: MKTG5 by Lamb, Hair, and McDaniel, Southwestern Cengage Learning, 2011-12. ISBN: 978-1-1-1152809-6 You may purchase the book at the University Book Center in Stamp Union or you may order it online directly from the publisher. To order online go to this web site: http://www.cengagebrain.com/shop/en/US/storefront/US?cmd=CLHeaderSearch&fieldValue=11 11528098 1 You are highly encouraged to use the publisher’s online supplemental course materials that correspond with the book through “CourseMate.” For each chapter there are practice questions that will help you prepare for exams. See Attachment 2 for access instructions. Blackboard Web Site: http://bb.rhsmith.umd.edu Please verify that your e-mail address in Blackboard is correct. If I need to contact you during the semester, I will use the e-mail address on record in Blackboard. The website will include the PowerPoint slides presented in class and other course material. PowerPoint slides will be posted prior to the class date. I will not bring copies of the PowerPoint slides to class. Please print your own copies if you want hard copies. I will give you a hard copy of the syllabus on the first day. Grading: Letter grades will be determined by performance according to the following weights: Exam 1 26% Exam 2 27% Exam 3 27% Team Project Presentation 10% Written Cases (total 5) 5% Research Experience 5% Students must participate in each of the above assignment categories in order to pass the class. For instance, if you do not participate in the team project, your overall course grade is an F. If you do not submit any of the written cases, your overall course grade is an F. If you do not participate in any of the research experience or alternative research experience assignments, your overall course grade is an F. After confirmation that students have participated in each of the separate components of the course, letter grades based on weighted total scores will be assigned as follows: A+ A A- 97+ 93-96 90-92 B+ B B- 87-89 83-86 80-82 C+ C C- 77-79 73-76 70-72 D+ D D- 67-69 63-66 60-62 Anything below 60% is an F. Unless there is a data entry or math error, grades will not be changed. All grades are final. Please note that there is NO EXTRA CREDIT. It is not an option, at all, under any circumstances. Please do NOT ask for extra credit. Grading Policy The Smith School of Business offers rigorous, academically-challenging courses and provides meaningful feedback on student performance to facilitate learning. Transparency and consistency in grading are important elements that ensure the integrity of the curriculum. The Smith School expects a grade point average of approximately 3.10 for 300-level BMGT core courses. Intellectual Standards The Robert H. Smith School of Business fosters an environment for development of thoughtful and sound analysis. Faculty and students will hold each other accountable to meeting intellectual standards including demonstrating clarity of thought, articulating statements based on evidence, presenting relevant arguments, and engaging in logical reasoning. By adhering to these standards, students will develop essential critical thinking skills to be demonstrated in both their oral and written work. 2 Academic Integrity The University’s Code of Academic Integrity is designed to ensure that the principles of academic honesty and integrity are upheld. All students are expected to adhere to this Code. The Smith School does not tolerate academic dishonesty. All acts of academic dishonesty will be dealt with in accordance with the provisions of this Code. Please visit the following website for more information on the University’s Code of Academic Integrity: http://www.studenthonorcouncil.umd.edu/code/html Exams (80% of final grade): All exams are closed book, closed notes, and consist of multiple choice questions. All information discussed in class as well as the text and cases could be on the exams. Exam dates and the corresponding chapters are listed on the schedule in Attachment 1. University of Maryland Make-up Examination Policy The University of Maryland recognizes that there are legitimate circumstances which may prevent a student from taking an exam. They include (1) documented illness, (2) religious observance, (3) participation in a university activity at the request of a university official, (4) compelling circumstances beyond the student’s control. When possible, a student should notify the instructor well in advance of the absence. If prior notification is not possible, the student should contact the instructor as soon as possible afterwards. When any of the above situations occur, the student will need to provide appropriate documentation to be approved for taking the make-up exam. No make-up exams will be given without prior approval. The make-up exam will cover the same material as the original exam, but different questions will be used to ensure the integrity of the exam. All make-up exams will be given on Tuesday, May 1, 2012 from 2:00 – 3:15 pm and the location will be announced later. Team Project Presentation (10% of final grade) Each team will prepare a presentation on a product/brand of your choice. You will analyze the firm’s marketing and make recommendations for improvement based on what you have learned in class. See Attachment 3 for the details. You have the option to complete peer evaluation forms. See Attachment 4 for the details of peer evaluations. Please note that if you fail to make equitable contributions to your team project, you will be penalized with a lower individual grade. There are no “free riders” on this project. Written Cases (5% of final grade) Over the course of the semester, we will discuss a total of 16 cases. The cases and corresponding case questions are posted on Blackboard in a separate document. You are required to read each of these cases and be prepared to discuss them in class on the scheduled due dates. The cases will be included on the exams. You are required to do a written analysis for a total of five cases. Please see Attachment 5 for specifics. Please note that you have “some” selection of which cases to write with in the parameters discussed in Attachment 5. Due dates for cases occur through out the semester, so submitting all five cases at one time is not an option. You must submit your cases electronically via Blackboard. Cases are due by 9:00am on the day we discuss them in class. Late cases cannot be accepted, so do not wait until the last minute to submit. Hard copies or emails of cases cannot be accepted. 3 Research Experience (5% of final grade) You will be invited to participate in three academic research sessions during the semester and this will count for 5% of your final grade. If you participate in all three required sessions, you will receive 100%. If you participate in two sessions you will receive 67%. If you participate in one session you will receive 33%. If you do not participate at all you will receive 0. Research sessions will be conducted in blocks of approximately two weeks, during which several appointment times will be available. You may participate only once during each two-week round of appointment times. See Attachment 6 for specific details and dates. It is YOUR responsibility to sign up and attend the three sessions in order to get full credit. If you cannot or do not wish to participate, you may substitute alternative assignments that have specific due dates. If you turn the alternative assignments in late, you will NOT get credit. If you arrive late for your scheduled appointment, you will not be able to participate. If you arrive late or for some reason you cannot come at all, it is your responsibility to email the coordinator and reschedule as soon as possible. Contact Kathleen Haines, Smith Behavioral Lab Manager at participate@rhsmith.umd.edu (do not email me). If there are no times left, then it is your responsibility to do the alternative assignment. Finally, it is your responsibility to track your session completion records at http://rhsmith-umd.sona-systems.com/. If you see any errors (such as you completed a session and you didn’t receive credit) you must let me know as soon as possible and by May 2nd at the very latest. Course Policies: 1. Name Tents: You will be given a name tent. Please bring to every class and display so I can see your name. 2. Readings: Students are expected to read the assigned chapters and cases prior to class and thus be fully prepared to participate in class discussions. You are expected to read all cases and be prepared to discuss all even if you aren’t submitting a write-up for that case. 3. Attendance: Regular attendance is strongly encouraged and is necessary in order to perform well on exams. Students are responsible for completing assignments, obtaining notes and any handouts, and keeping informed of any announcements made in class, irrespective of attendance. 4. Class Conduct: Unacceptable class conduct includes late arrivals, early departures, texting, e-mailing, etc. All cell phones, iPods, & other electronic devices must be turned off during class hours. No picture taking or videotaping will be permitted. You may use your laptop during class as long as it is ONLY for note taking. 5. Exams: The exams will be returned in class so students can review. If you want to discuss specific test questions, you must set up an appointment with me. Any questions or appeals about exams must be made in writing via e-mail within 7 days after the exam is returned. If you miss class on the day the exam is returned, you may make an appointment with me to review your exam. It is departmental policy that all exams must be kept by the instructor. 6. Make-ups: Make-up exams will only be permitted as required by University Policy as stated above. Therefore, you must have a University approved excuse (e.g., Doctor’s excuse or University Sponsored event). Proper documentation must be provided before any make-up will take place. All make-up exams will be given on Tuesday, May 1 from 2:00 – 3:15 pm and the location will be announced later. 4 7. Special Needs: Any student with special needs (e.g., documented learning or physical disabilities) should discuss this with me, as soon as possible, but not later than the second week of class. If you take your exams at the DSS Testing Center, you must give me the appropriate form at least one week in advance of the scheduled exam. 8. Student Information Sheet: You will be given a student information sheet to complete on the first day of class. Please make sure you submit the form. Attachments: Attachment 1: Tentative Schedule Sometimes there are weather related schedule changes. However, if at all possible, the days of the exams will not change. Attachment 2: Instructions for Accessing CourseMate Material Attachment 3: Team Projects Attachment 4: Peer Evaluation Form Attachment 5: Cases Attachment 6: Research Experience 5 ATTACHMENT 1 TENTATIVE SCHEDULE, BMGT 350 SPRING 2012 Date Jan. 25 Jan. 30 Feb. 1 Feb. 6 Feb. 8 Feb. 13 ***** Feb. 15 Feb. 20 Feb. 22 Feb. 27 Feb. 29 Mar. 5 ***** Mar. 7 Mar. 12 Mar. 14 Mar. 26 Mar. 28 Apr. 2 Apr. 4 Apr. 9 ***** Apr. 11 Apr. 16 Apr. 18 Apr. 23 Apr. 25 Apr. 30 May 2 May 7 May 9 Topics Covered Introduction Overview of Marketing Marketing Strategy Ethics & Social Responsibility The Marketing Environment Global Marketing Round 1 Research Feb. 14-17, 20-23 Business Reference Librarian: VBIC Consumer Decision Making. Business Marketing EXAM 1: CHAPTERS 1-7 Segmenting and Targeting Marketing Research Round 2 Research Mar. 6-9, 12-15 Product Concepts New Products Services SPRING BREAK: eat, sleep, play Channels and Supply Chain EXAM 2: CHAPTERS 8-14 Retailing Integrated Marketing Communications Advertising and PR Round 3 Research Apr. 10-13, 16-19 Sales Promotion and Personal Selling Social Media Pricing EXAM 3: CHAPTERS 15-20, 22 Presentations Presentations Presentations Presentations Presentations Reading Cases (posted on Blackboard) None Ch. 1 Ch. 2 Ch. 3 Ch. 4 Ch. 5 ******** Harmonix Disney Product Red Starbucks in China NFL ********** Ch. 6 Ch. 7 Chocolate Case Camelbak Ch. 8 Ch. 9 ******** Ch. 10 Ch. 11 Ch. 12 Coke Zero Red Lobster ********** Terra Cycle No Case Minute Clinic Ch. 13, 14 Dell Ch. 15 Ch. 16 Ch. 17 ******** Ch. 18 Ch. 22 Ch. 19, 20 Nordstrom’s Burger King No Case ********** No Case Starbucks Social Media Apple’s i-Phone 6 ATTACHMENT 2 Instructions for Accessing CourseMate Material BMGT 350 Spring 2012 Go to: http://cengage.com/support Select "CourseMate" from the product drop down list Choose the "Student Registration and Enrollment Clickpath" link and follow instructions. For students in Section 0101, the Course Key Number is CM-9781111478711-0000415 For students in Section 0201, the Course Key Number is CM-9781111478711-0000416 For students in Section 0301, the Course Key Number is CM-9781111478711-0000417 For students in Section 0401, the Course Key Number is CM-9781111478711-0000418 If you would like a more detailed tutorial for help accessing CourseMate and enrolling in the course go to: http://poweron.cengage.com/magellan/TechSupport/ProductHelp.aspx?prodrowid=1-SXF0LJ. Once there, click the "Downloads" tab, then click the "Student Registration and Enrollment Clickpath" tab, and, finally, click the "Download File" link. This tutorial is also posted as a pdf file on Blackboard under “Course Documents.” 7 ATTACHMENT 3 TEAM PROJECT FINAL PRESENTATION REQUIREMENTS The purpose of this assignment is to have you integrate the different parts of the Principles of Marketing course. The deliverable for this assignment is an in-class team presentation. Keep in mind there is no paper associated with this assignment. Your team will make a 20 minute inclass PowerPoint presentation. You will provide me with a printed copy of your PowerPoint slides on the day you are scheduled to present. You will be graded on the quality of your analysis and recommendations as well as the quality of your presentation style (see below). You are required to include a list of your sources and to sign the Honor’s Pledge. For this assignment, your team is to assume the role of marketing consultant making suggestions for ways to improve the effectiveness of the marketing mix being used by an organization to attract a target segment. The organization may be either a tangible product or a service (e.g., restaurant, bank, retailer). For large firms, choose one “brand.” For instance, Campbell’s markets multiple brands of soups including condensed, microwavable, chunky, select harvest, healthy request, and Wolfgang Puck. The firm also sells in other food categories under brands like Pepperidge Farm, V-8, Prego, Pace, and Swanson. So if you wanted to consider Campbell’s, you would choose one specific brand. 1. Make it easy on yourself and choose a brand that you are familiar with and that you can observe the marketing efforts being used. You may choose any brand you wish, as long as it is in good taste. Usually it is best not to pick the leader in the market as it may be difficult to come up with concrete recommendations for improvement. Because I do not want more than one team to investigate a particular brand, determine your first and second choice. You will be given a “Project Brand Request Form” to complete to indicate this. I will consider all of the forms and in case of duplicate requests a random system will used to assign brands. 2. Learn as much as you can about the brand’s firm and the environment in which it competes. Conduct a detailed literature review using the Robert H. Smith School of Business “Virtual Business Information Center” known as VBIC at www.vbic.umd.edu. To help you get started, a Business Reference Librarian will provide an overview of the system. Conduct a thorough SWOT Analysis (strengths, weakness, opportunities, and threats). Based on this, you are ready to select one particular target market for your detailed analysis. 3. Identify and describe one particular target market for the project. Do not say something like “young, mid-to-upper class women who wash their hair” and consider the target market identified and described. Try to pinpoint the key benefits that make the target market respond to the firm’s marketing mix in ways that are different from people who are not members of it. For example: “young mid-to-upper class women who wash their hair, perceive that they might have a dandruff problem, who are motivated by prestige and glamour, who like to pamper themselves and are willing to pay a little extra to do it.” A good statement lets you say who is in the target market and who is not. It is very difficult to do a good job on this presentation if you do a poor job of defining the target market. 4. After discussing the target market you should then discuss the current marketing-mix (48 Ps) the firm is using to attract the chosen target market. You should describe each of the 4 Ps, then discuss and analyze how each one is being used to attract members of the target market. In analyzing the 4 Ps, you should evaluate how effective each is. For example, discuss the current advertising and evaluate it in relation to the target’s needs, the competition, etc. You should also address the synergy of the 4-Ps together, especially if you see that one, or more, does not fit the others. Be careful not to just list what is being done. Instead summarize and synthesize and be critical in your assessment. 5. After discussing the firm’s marketing mix you should assume the role of marketing consultant and make specific suggestions for improving the firm’s effectiveness. These suggestions can be in the form of changes to any part of the current marketing mix to fix problems you identified. If you did not identify problems you should make suggestions for additional marketing activities. It is important that you say why you make the suggestion and how it will result in better appeal to the target market and be more effective against the competition. These suggestions should be specific and not generic. Generic suggestions are ones like: “advertise more” or “improve the sales force.” Specific suggestions are ones like: “improve effectiveness of the sales force by starting a training program that emphasizes closing and presentation skills.” Remember that your suggestions should be addressed at specific problems or opportunities so that you can justify them. The presentation will be rated using the following scale: 1= Poor 2= Below Average 3= Average 4= Good 5= Excellent 1. Brief Overview of Company 1 2 3 4 5 2. SWOT Analysis 1 2 3 4 5 3. Discussion of Target Market 1 2 3 4 5 4. Quality of 4Ps Data Collected 1 2 3 4 5 5. Quality of Analysis 1 2 3 4 5 6. Logic of Recommendations 1 2 3 4 5 7. Completeness of Recommendations 1 2 3 4 5 8. Clarity of Presentation 1 2 3 4 5 9. Flow of Presentation 1 2 3 4 5 10. Response to Questions 1 2 3 4 5 11. Confidence/Poise of Presenters 1 2 3 4 5 12. Length of Presentation 1 2 3 4 5 13. Thoroughness of Citations 1 2 3 4 5 14. Overall Evaluation of Presentation 1 2 3 4 5 9 ATTACHMENT 4 PEER Evaluation Form, BMGT350 Team Project, Spring 2012 Submit if you feel someone has not contributed their fair share in terms of quality and quantity of work as well as overall effort made to the project. Submit to Professor Lefkoff in person or electronically Wed. May 9th at the latest. Please circle section number: 0101 Please indicate team number: ___________ 0201 0301 0401 Team brand: ____________________ Instructions: Each person on the team should contribute in multiple ways, including quantity and quality of input effort including research, analysis, preparing recommendations, meeting participation, making deadlines, and producing the output (powerpoint slides). If you believe that someone has not contributed fairly, I encourage you to submit a peer evaluation. If you feel that everyone contributed equally, then there is no reason to submit a peer evaluation. THIS IS A CONFIDENTIAL EVALUATION. Evaluate the contribution of each team member on a 100% scale. For instance, if someone contributed their fair share give him/her a 100% rating. If a team member contributed much less in quality or quantity, you might give that person an evaluation of 75% or lower. Impact on Project Grade: I will average the evaluations for each team member. For example, suppose person X gave themselves 100% and 3 team members gave person X 70%, the average evaluation score for person X is 77.5%. The arithmetic average of all peer evaluations for each team member will be assessed against the team grade. Suppose the team grade was 92, and member X received a 77.5% average peer rating, than X would be given a 71 (77.5% of 92) as his/her grade for the assignment. Write in each team member’s name, including your own, and indicate the percentage evaluation for him or her. TEAM MEMBER’S NAMES EVALUATION (%) _____________________ (yourself) _______________% _____________________ _______________% _____________________ _______________% _____________________ _______________% _____________________ _______________% Your signature __________________________________________ Please include open-ended comments to explain your evaluations. 10 ATTACHMENT 5 CASES Over the course of the semester, we will discuss a total of 16 cases. The cases are posted on Blackboard in a separate document. At the end of each case there are questions for you to answer. You are required to read each of these cases and be prepared to discuss them in class on the scheduled due date. The cases will be included on the exams. You are required to do a written analysis for a total of five cases according to the schedule below. Due dates for cases occur through out the semester, so submitting all five cases at one time is not an option. You will submit your cases electronically via Blackboard. Cases are due by 9:00am on the day we discuss them in class. Late cases cannot be accepted so do not wait until the last minute. Give yourself sufficient time to submit via Blackboard. Hard copies or emails of cases cannot be accepted. Be strategic in your choice of cases so you do not come up short at the end of the semester. You may only turn in one case from each of the “sets” shown below. If you do, we will only grade the first case submitted per set. Please note that there are no written cases for chapters 11, 17, 18. Instead, in class exercises or videos will be used. Also, please note that written cases will not start until Chapter 4. For practice, we will discuss these cases, but do not turn in written papers: Due Date Jan. 30 Feb. 1 Feb. 6 Text Chapter Ch. 1 Ch. 2 Ch. 3 Cases (posted on Blackboard) Harmonix Disney Product Red WRITTEN CASE ASSIGNMENTS BEGIN HERE: Select one case to write from the following schedule: Due Date Feb. 8 Feb. 13 Text Chapter Ch. 4 Ch. 5 Cases (posted on Blackboard) Starbucks in China NFL Select one case to write from the following schedule: Due Date Feb. 20 Feb. 22 Feb. 29 Text Chapter Ch. 6 Ch. 7 Ch. 8 Cases (posted on Blackboard) Chocolate Case Camelbak Coke Zero 11 Select one case to write from the following schedule: Due Date Mar. 5 Mar. 7 Mar. 14 Text Chapter Ch. 9 Ch. 10 Ch. 12 Cases (posted on Blackboard) Red Lobster Terra Cycle Minute Clinic Select one case to write from the following schedule: Due Date Mar. 26 Apr. 2 Apr. 4 Text Chapter Ch. 13, 14 Ch. 15 Ch. 16 Cases (posted on Blackboard) Dell Nordstrom’s Burger King Select one case to write from the following schedule: Due Date Apr. 16 Apr. 18 Text Chapter Cases (posted on Blackboard) Ch. 22 Ch. 19,20 Starbuck’s Social Media Apple’s i-Phone Written Case Instructions: • Print your name and section number in the upper right-hand corner of the paper. • Please answer questions separately using question numbers to separate your answers. Just answer the questions. Do not write an introduction. • Papers should be one page in length. We will not read anything beyond one page. • Papers should be single-spaced using reasonable fonts and spacing. Grades for Written Cases: My MBA Teaching Assistants will grade the written cases under my direct supervision using the following criteria: There are six key items that we are looking for when grading your papers: • Questions addressed clearly • Arguments logically presented • Good use of provided information • Appropriate tone • Well formatted • Proper use of additional information While correct answers make up a large part of the grade, your papers are also graded on your ability to logically support an argument. In addition, we look at the overall presentation of the argument as well as quality and clarity of your writing. 12 To help you with your written cases, I will conduct a “Case Writing Workshop” using slides that are posted on Blackboard. Please refer to these slides for more details about what makes an outstanding paper. A description of the grading scale is given below: Grades Earning A (Distinguished) Grade of “A” indicates a superlative submission. Points are supported by crisp reasoning as well as clear and concise writing. Additionally, if you choose to go ‘above and beyond’ the information provided in the case, the paper includes the proper citation of sources and references. “A” papers are superior and of the highest quality Grades Earning B (Satisfactory) All questions have been addressed in a manner that we deem satisfactory. This either indicates that answers provided are correct, or if incorrect, are at least supported with sound logic and reasoning. Grades Earning C and Below (Unsatisfactory) Paper contains answers that are incorrect with poor logical support, or have failed to address the questions posed in the case. 13 ATTACHMENT 6 RESEARCH EXPERIENCE, BMGT 350 SPRING 2012 In order for you to understand the role of academic research in marketing, you will have the opportunity to participate in a maximum of three research sessions during the course of the semester, each lasting about 1 hour. Completion of the three sessions will be worth 5% of your final grade. Research sessions will be conducted in blocks of approximately two weeks, during which several appointment times will be available. You may participate only once during each two-week round of appointment times. SESSION DATES * ROUND 1: February 14-17, 20-23 ROUND 2: March 6-9, 12-15 ROUND 3: April 10-13, 16-19 *All research sessions will be held in the Smith Behavioral Lab (VMH 3518). To sign up for research sessions, you must first go to http://rhsmith-umd.sona-systems.com/ and create an account by clicking the “New Participant” link. When creating your account make sure to select your correct course and section number. Once you have successfully logged-in you will be able to view studies and sign-up online. Sign-ups will begin approximately one week prior to the start date of each round. If you choose to participate in a research session, your responses will be confidential. That is, your name will not be associated with your responses to the study questions at any time. All data you provide will be grouped with data others provide for purposes of reporting and presentation. If you do not wish to participate in a research session, you may substitute an alternative assignment: preparing a summary and critical analysis of a recent marketing research article. To view the assignments, you will also need to sign up online at http://rhsmith-umd.sonasystems.com/. To receive credit, the assignment must be submitted to the email address provided on the website by the due date. To receive the required 5% total credit, you must complete one of these assignments during each of the three rounds. You can also do a combination of sessions of research participation and/or alternative assignments, as long as they total three and do not take place during the same round. For instance, you could do two research sessions and one alternative assignment. It is your responsibility to make sure you complete this requirement by the end of the third round. If you have any questions about the research experience or have difficulty signing up for lab sessions please contact Kathleen Haines, Smith Behavioral Lab Manager at participate@rhsmith.umd.edu. 14