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marketing3010syllabussummer2020.docPrinciples of Marketing (Marketing 3010)
Professor: Sandomir
Semester: Summer 2020
Office Hours: T/TH: 11:00 to 12:30
Office: SFEBB 4101
Phone: 1-6829
E-Mail: [email protected]
TEXT: Marketing 2018 Edition: Pride and Ferrell (on CANVAS)
STATEMENT FOR THE COURSE: Marketing is the business discipline that is primarily concerned with the generation of revenue through the management of directed strategies and tactics. Unlike other business disciplines like accounting, finance, and management, it is striking in its breadth of interdisciplinary relationships and creative applications. Marketers are generalists, rather than particularists, and the more they are able to perform the Emersonian task of applying the “mind to nature”, the better they are prepared for the exigencies of the profession.
Marketers are as responsible for the satisfaction of needs and wants as they are for the actual creation of wants and their conversion to needs. Needs and wants of various demographic groups comprise the dynamic range of a marketer’s thinking. Very few firms can rely on the satisfaction of needs alone to produce revenue and profits. The future for marketers is always the production and management of desire for goods and/or services. The psychological, sociological, and physical ramifications are cause for both praise and criticism. The positive effects on economies are generally cause for celebration—though negative and damaging externalities are typically a cause for criticism. Negative externalities relative to the physical environment are, especially, a cause for grief and a call for action.
Irrespective of how one views marketing, this much is clear—products and services, most often, do not sell themselves. As air is necessary to life, marketing, in some form, is necessary to sales and revenue streams. Those who develop the aptitude and acuity necessary to marketing success are in peculiar positions of power typically unavailable to others. This calls for a deeper understanding of power itself.
In Principles of Marketing, the objective is for students to study and understand the discipline as it intersects culture and as it serves the revenue demands of business. Additionally, it is to generate a serious interest in the subject of marketing--either at a cultural or strategic level. Finally, it is also to prepare, adequately, those who will go on to further marketing studies. At the end of this class, if you can say to yourself, honestly, that you do not understand these objectives or that, at least, one of these objectives has not been met, then I have not accomplished my objective. If, however, you think that none of the objectives has been realized because you did not give your full attention to this class, then these objectives will not have had any application to you or--it will be you who has failed at one, or a number, of your own objectives.
EXAMS and QUIZZES: There will be three exams, each worth 20% of the total grade possible. Exams will require your comprehension of text and slide FILES (see below) Exams and quizzes will contain objective questions—most will be of an “application” nature. These exams will be online. There will be two announced quizzes, each worth 10%. There will be one unannounced quiz worth 10%.
REQUIREMENTS:
1) Reading Assignments; in-session videos, and any in-session assignments. This means that if you want to know where we are or what we are doing, you need to be in session.
2) Use of CANVAS: Slides are posted for all lectures. Please consider this: these slide FILES are NOT text slides, though about 70% of them relate directly to topics covered in the textual readings. These FILES are, in many ways, different in structure and intent. Many cover strategic and tactical details not found in the text. If you have done your reading, you will immediately recognize those slide subjects that are textual and those that are not. My objective in presenting these FILES is to enrich and deepen your understanding of marketing. Clearly, these ancillary slides add an extra burden relative to your study, comprehension, and recall of important issues. Exams will require that you know these FILES well.
3) Correspondence: Please do not communicate with me on CANVAS. I prefer that you use my office email address: [email protected] or [email protected]
4) Your grade and being in session, in almost all cases, are correlated. When you are not in session regularly, your grade suffers. My grading will reflect your "dedication" to being in session—and will reveal my prejudices, too. This is not an obsession—rather, it is within the rules of success (see below): success requires dedication and attendance is correlated to success; most often, your professors want you to be successful (that is, however, your choice and not theirs).
5) Recommended readings are noted throughout the text. Consider seeking them out. Readings will also be recommended in class.
6) PACKBACK: this is a syndicated student engagement program. All marketing 3010 students are required to read uploaded articles and to make substantive comments designed to generate “engagement.” The articles, of varying lengths, will relate specifically to marketing issues, most of which will be elements of lectures and class discussions. To earn an “A”, students must post, at least, 15 substantive comments on 15 separate articles during the summer semester. Follow -up comments will be noted, but will not count toward the minimum requirement.
Here is the grading rubric of PACKBACK:
A: 15 or more original comments;
B: 13-14 original comments;
C: 11-12 original comments;
D: 10 original comments;
E: 9 or fewer comments.
PACKBACK is a very sophisticated program and measures quantity and quality of your posts within what are called “communities.” If your contributions simply reiterate what is in the articles without analytical comments, such posts will be red flagged and will not be counted in your favor.
This is a “turnkey” element of marketing 3010. This means it is YOUR program and YOUR discussion—we may discuss some of these articles, but even if we don’t, it is your job to manage your posts every week WITHOUT needing reminders from your professor. After all, the purpose of this requirement is to draw you into habitual study of marketing issues without external pressure.
Keep in mind—PACKBACK constitutes 15% of your grade.
7) Success: Success in this class is based upon three factors:
a. close reading of chapters—no easy thing as the chapters contain a lot of material including graphs and models;
b. careful study and memorization (yes—classes designed to introduce disciplines require much the same thing as the study of musical instruments—eg. intense repetition of major/minor diatonic scales) of the slides emphasized in class. Some presentation slides will be passed over and won’t require any work. Maintain good notes as to which slides were worked over in class.
c. Consistently being in session---dedication to a subject rarely provides a steady stream of enthusiastic anticipation. Sometimes—it just feels like hard work! Still—success requires a singular focus. If you lose the focus, there will be unhappy consequences.
Total Grade Distribution
Exam 1: 20%
Exam 2: 20%
Exam 3: 20%
PACKBACK: 15%
Quiz 1: 5%
Quiz 2: 5%
Quiz 3: 5%
Handicap: 10% (equal to an “A” grade)
TOTAL: 100%
READING SEQUENCE:
(The first four chapters comprise one introductory lecture series)
Chapter One: Overview of Strategic Marketing
Chapter Two: Planning, Implementing, and Evaluating Marketing Strategies
Chapter Four: Social Responsibility and Ethics in Marketing
Chapter Three: The Marketing Environment
Chapter Nine—Reaching Global Markets
EXAM ONE—Date to be announced
Chapter Seven: Consumer Buying Behavior (B2C Marketing)
Chapter Eight: Business Markets and Buying Behavior (B2B Marketing)
Chapter Six: Target Markets: Segmentation and Evaluation
Chapter Five: Market Research
NOTE: Chapters Ten and Eleven comprise the PRODUCT or PRODUCT/SERVICE MANAGEMENT lecture series. These chapters should be read in tandem. Lectures will refer to both chapters. Reading both chapters in sequence makes for a long, but necessary read as lecture will conflate both chapters (and some elements of lecture for Chapter Six).
Chapter Eleven: Product Concepts: Brand
Chapter Twelve: Developing and Managing Products\
EXAM TWO—Date to be announced
NOTE: Chapters Fourteen and Fifteen comprise the PLACE or DISTRIBUTION and RETAILING lecture series. These chapters should be read in tandem. Lectures will refer to both chapters. Again, reading these chapters in sequence makes for a long, but necessary as lecture will conflate both chapters—though a bit less dramatically than for chapter ten and eleven)
Chapter Fourteen: Marketing Channels and Supply Chain Management
Chapter Fifteen: Retailing, Direct Marketing and Wholesaling
Chapter Sixteen: Integrated Marketing Communications;
Chapter Eighteen: Sales Promotions only
NOTE: Chapters Seventeen and Eighteen comprise a subsection of the PROMOTIONS or INTEGRATED MARKETING COMMUNICATIONS (IMC) lecture series. These chapters should be read in tandem. Lectures will refer to both chapters. It, too, is a long, but necessary read as lectures, though not conflated, are closely related.
Chapter Seventeen: Advertising
NOTE: Chapters Nineteen and Twenty comprise the PRICING lecture series. Lectures will refer to both chapters. These chapters should be read in tandem. It, too, is a long, but necessary read as lectures on concepts and prices are conflated in some areas.
Chapter Nineteen: Pricing Concepts
Chapter Twenty: Setting Prices
EXAM THREE—Thursday, July 29, 2020
EIGHT KEY FACTS:
1. There will be no make-up exams as long as exams are given on the days noted in class--except for special circumstances.
2. Students may use calculators for all exams and quizzes.
3. Students who need special help of any kind should email me.
4. I reserve the right to alter the reading assignments and the exam schedule as necessary. This is not something I would do frivolously.
5. Students who do not speak English, as a first language, may have some special challenges. They should consider emailing me during the first or second week of class.
