WELCOME TO
MARKETING
FUNDAMENTALS
(BUAD 307)!
BUAD 307
COURSE INTRODUCTION
Lars Perner, Ph.D., Instructor
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BUAD 307
MARKETING FUNDAMENTALS
Instructor:
Office:
Office Phone:
Cell:
E-mail:
Web:
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Lars Perner, Ph.D.
Assistant Professor of Clinical Marketing
Accounting Building 306K
(213) 740-7127
(213) 304-1726
perner@marshall.usc.edu
http://www.LarsPerner.com
http://www.BUAD307.com
http://www.ConsumerPsychologist.com
Blackboard: http://blackboard.usc.edu
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About the Instructor: Lars Perner
• Ph.D., Marshall School of
Business, University of
Southern California, 1998
• Courses taught:
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Marketing Fundamentals
Consumer Behavior
International Marketing
Marketing Strategy
Intro to International Business
Channels/Distribution
Agricultural Marketing
Internet Marketing
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About the Instructor: Lars Perner
• Research interests:
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Consumer Behavior
International Marketing
Consumer Price Response
Consumer Bargain Hunting
Branding
Corporate Philanthropy
Non-Profit Marketing
“Win-win” Deals
Autism Spectrum Disorders and Subtypes
• Country of birth: Denmark
• Selected outside involvement
– Marketing Educators’ Association
– Autism Society of America
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About the Instructor: Hobbies and
Interests
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With my sisters
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Gardening
Music
Spicy foods
Supreme Court oral
arguments
• Computers and technology
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Why does
Tony the
Tiger wear a
scarf?
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Course Web Site
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Textbooks
Dhruv Grewal and Michael Levy (2014), M:
Marketing with ConnectPlus, 4th ed.,
McGraw-Hill Irwin, ISBN-13: 9781259613708.
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Jonah Berger (2013), Contagious: Why Things
Catch On, Simon & Schuster, ISBN-13: 9781451686579.
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WARNING!
• Beware of relying on
PowerPoint printouts!
• Psychological research
shows that
comprehension and
memory suffer if you do
not take notes in your
own hand.
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SURFING
PSYCHOS
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Class Meetings and Office
Hours
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Course Objectives
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Apply fundamental marketing terms, concepts, principles, and theories and
their effective applications to real-world situations in a global market.
Describe how the marketing function is organized and fits into an organization,
including the relationships between marketing issues and those of other
business disciplines.
Make effective marketing decisions in real world settings using critical thinking
skills.
Effectively communicate marketing analysis
Effectively collaborate to analyze marketing options
Identify and make judgments about questionable marketing practices by
applying an ethical decision framework.
Identify and evaluate the advantages, disadvantages, opportunities, and
tradeoffs involved in different marketing strategies and choices
Appreciate the dual roles of formal analysis and creativity in designing and
implementing effective marketing programs
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FEEDBACK FROM
EMPLOYERS EMPHASIZES
CRITICAL THINKING
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THE REAL WORLD IS A
MESSY PLACE!
Context and dynamics are
important!
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The Socratic Method
• Used in law schools
• Learning by induction—developing
general ideas by examining specific
cases
• Development of analytical skills
• Research shows that learning tends
to be enhanced when information
is acquired through answering
questions
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Course Philosophy
• Application to needs of
real firms rather than
memorization
• Broad overview of
marketing
• Assignments require
individual initiative and
thinking
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Grading
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Grading Issues
• Course grades are assigned based on the total number
of points accumulated. LETTER GRADES WILL NOT BE
ASSIGNED TO PROJECTS OR EXAMS ALONE (see
syllabus).
• Marshall competition is very intense.
• Not everyone can be “above average.” Some will be
below.
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More Grading Issues
• Extra credit cannot be assigned.
• Grading is based on performance. It is NOT assumed that you
start out as “perfect” and have “points taken off” for
deficiencies. A perfect score takes a nearly superhuman person!
• Grading is NOT based on effort put in (or perceived effort put in
or effort reported to have been put in).
• Final grades can generally only be changed to correct mistakes
in arithmetic, Scantron misreads, or data entry that have been
made. Work quality or cut-offs cannot be re-evaluated under
the USC grade change policy.
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Some Topics Covered In This Course
• Creating customer value
• Marketing Strategy
• Ethics and Social
Responsibility
• Marketing Research
• Consumer Behavior
• International Marketing
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• Segmentation, Targeting,
and Positioning
• The Marketing Mix
– Product
– Price
– Promotion
– Distribution (“Place”)
• Electronic Commerce
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PROJECT
PRODUCT OR SERVICE
OR
OR
TARGET MARKET FOR AN
EXISTING TYPE OF
PRODUCT
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NEW
OR
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CHANNEL FOR
DISTRIBUTING AN
EXISTING PRODUCT
OR
PRODUCT OR SERVICE
“TRANSPLANTED” FROM
ONE COUNTRY TO
ANOTHER
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Course Project
• Please choose:
– A new product or service not currently in existence;
– An existing product or service that has potential to be
targeted to a segment or type of consumers that currently
does not use the product
– An existing product or service that could achieve significant
additional sales if distributed through a new channel; or
– An existing product that is sold in one or more countries and
can be introduced in another specific country where it is
currently not widely used.
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Project Structure
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Proposal
Office visit to discuss the proposal
Secondary Market Research
Applications Paper
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Examples: A New Product or Service
• Auto GPS system that offers the “least stressful” route as
one of options
• Car with built-in mini-safe
• Bathroom water collector for garden re-use
• Secular values training and leadership programs for
children of busy parents not involved in organized religion
• Sports free cable news network
This does not have to be an entirely new product category.
Adding a new feature or making alterations to a product
category qualifies if this is likely to be of value to some
customers. Even new specific shade of lipstick qualifies.
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Examples: Existing Product For New
Target Market
• Video games marketed to senior citizens (who want to preserve
mental agility and/or play with their grandchildren)
• Noise cancelling headphones for children vulnerable to
distraction
• Attracting a new type of student (e.g., “geeks”) to a fraternity or
sorority
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Examples: Existing Product With Potential
Through New Distribution Channel
• Financial planning programs sold through churches, synagogues,
or mosques.
• Inkjet printer cartridges sold through Greek houses
• Groceries being delivered to car pool or van pool departure
sites.
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Examples: Existing Product for a New
Country
• Fortune cookies (which are actually not used in Mainland China)
• U.S. fast food chains abroad
• Foreign fast food chains in the U.S.
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