Bob Evans Farms Hall 111

MKT 21403: Principles of Marketing Spring 2014 Mon., Wed., & Fri. 12:30-1:20 Bob Evans Farms Hall 111

Professor: Wesley Thoene Phone: (740)245-7347 E-mail: [email protected] Office: Bob Evans Farms Hall 239 Office Hours: Mon., Wed. & Fri. 11:30-12:20; Tues.& Thurs. 12:45-1:00 and 2:15-3:00; and by appt. (I’m here every day) Office Fax: 740.245.7432 Website: http://faculty.rio.edu/wthoene

TEXTBOOK AND OTHER REQUIRED MATERIALS: Lamb, C. W., Hair, J. F., & , McDaniel, C. (2012). MKTG (5th ed.). Mason, OH: South-Western.

COURSE OBJECTIVES:  To obtain a basic understanding of the total marketing objective which requires that the entire organization must revolve around the customer to satisfy his/her needs while still making a profit.  To understand how marketing fits within the framework of an organization.  To appreciate the need for business social responsibility in marketing and the social consequences of marketing decisions, including personal ethics.  To obtain an understanding of the environmental factors which impact marketing strategy.  To understand the concept of the global marketplace and marketing’s role in global competition.  To comprehend the basis of consumer behavior, including the decision-making process, and how sociocultural, situational, psychological, and marketing mix influences affect it.  To understand the role, process, and forms of marketing research to better gauge customer’s needs and wants.  To gain an understanding of the business-to-business marketing environment, including the roles played by individuals in an organization and the differences between this market and the consumer market.  To learn the different marketing strategies used to promote a new product, an existing product, and services through the various stages of the product life cycle  To identify the various pricing strategies available to an organization, as well as the effects they have on consumer perception.  To recognize the increasing importance of logistics and supply chain management in providing value to both the company and customers and the usage of retailers and wholesalers, as well as the advantages of direct channels.  To obtain an understanding of integrated marketing communications and when to use each of its components. GRADING POLICIES/TESTING/ASSIGNMENTS/ATTENDANCE/EXPECTATIONS

Grade calculation % of Grade Grading Scale Participation 10% A = 90 - 100% Commercial Assignment 5% B = 80 - 89% Retail Assignment 5% C = 70 - 79 Midterm Exam 25% D = 60 - 69% Final Exam 30% F = <60% Marketing Project 25%

Participation: Participation will be measured through both attendance, the quality of comments students make in the classroom, and completion of homework. Students are advised to read the assigned chapters before coming to class in order to be prepared for classroom discussion. If students miss a day of class, notes are available on my Rio website, http://faculty.rio.edu/wthoene .

Examinations The course midterm examination is tentatively scheduled for March 7. The final exam will be announced later. Both exams will be multiple-choice in structure and each will contain thirty- three questions.

The following is a tentative schedule for the course. Please note that these dates are subject to change, and that such changes will be announced in class.

Marketing Project For this project, teams consisting of three students will be required to select a local community business or organization and prepare a complete “Marketing Plan” for that organization. All groups and organizations must be pre-approved by the professor. Final marketing plans must be at least 15 pages in length and will follow the format contained in Appendix A at the end of Chapter 2. Grades will be assigned based on the following rubric. Group Members: MARKETING PLAN EVALUATION MKT 21403/31403: PRINCIPLES OF MARKETING

Grading scale: 0 = Unacceptable (none of the issues have been addressed or explained); 2 = Insufficient (some of the issues have been addressed or explained); 4 = Minimal (all the issues have been addressed, but explanation is inadequate); 6 = Average (all issues have been addressed) ; 8 = Good (all issues have been addressed and analysis is above average); 10 = Superior (all issues have been addressed and analysis is exceptionally done, concepts have been integrated to form a cohesive response)

Company Description 0 1 2 3 4 5 6 7 8 9 10 Briefly describe the company in terms of its history, owners, and business. Where is it located? What products does it sell? What is the company hoping to accomplish?

Strategic Focus and Plan 0 1 2 3 4 5 6 7 8 9 10 What is the company’s mission and or vision statement? (You may need to write one.) What are the company’s goals? (Remember: this marketing plan will be geared toward meeting these goals!) Are these goals achievable? Are these goals measurable? What are the company’s core competencies? How do these core competencies translate into a competitive advantage against competitors? Do goals relate to these core competencies?

Situation Analysis- Industry Analysis 0 1 2 3 4 5 6 7 8 9 10 Describe the firm’s industry. How large is the industry, nationally and locally? Are industry sales increasing or decreasing? Why? Who are the firm’s major competitors? Describe each competitor in terms of size, target market, strengths, and weaknesses. What economic forces impact the firm? Are there any major laws or regulations which directly apply to the company? What technology does the firm presently use? How could it be better utilized? What are the sociocultural issues faced by the company? (Hint: What are the relevant local demographics? How can the firm use these trends to its advantage?)

Situation Analysis- Company & Customers 0 1 2 3 4 5 6 7 8 9 10 What are the company’s major strengths and weaknesses? What are its core competencies? How does it provide value for customers?

Describe the company’s “average” customer and/or target market. How does the firm presently reach these customers? Are there any customers who are not being targeted by the firm?

SWOT Analysis 0 1 2 3 4 5 6 7 8 9 10 How is the SWOT analysis? Did the SWOT Analysis take a comprehensive look at the company’s strengths and weaknesses? How strong were the explanations for each cited strength or weakness? Were opportunities and threats also identified and explained? Was any supporting evidence provided in order to validate the opportunities or threats?

Market-Product Focus 0 1 2 3 4 5 6 7 8 9 10 How will the company use current products to further penetrate current markets? How will the company use current products to expand into new markets? If you deem it necessary, will they develop new products? How will they market these new products to new and current markets? Restate the company’s target market. How do the company’s products differ from competitors’ products? Finally, how are the company’s products positioned relative to competitors’ products? (Think back to the perceptual map used in class)

Marketing Program 0 1 2 3 4 5 6 7 8 9 10 How will the company use the four components of the marketing mix in order to achieve the goals listed earlier in the plan? Outline the recommended product, pricing, distribution, and promotion strategies which will help them to achieve this goal. How will these strategies directly impact these goals?

Financial/Organization/Implementation 0 1 2 3 4 5 6 7 8 9 10 If available, show and discuss the firm’s finance over the last few years. Are sales increasing or decreasing? What contributed to these fluctuations? What is the company’s organizational plan? How many employees does it have? What is the implementation schedule for the firm? When should the recommendations offered in the marketing plan be commenced? Finally, what control procedures should be used in order to assure goals are being met?

Peer Evaluations 0 1 2 3 4 5 6 7 8 9 10 Average of scores assigned by your fellow group members.

Technical Requirements 0 1 2 3 4 5 6 7 8 9 10 15 pages, block format, proper headings, grammatically correct, correct spelling

TOTAL POINTS 0/100 DATE TOPIC MATERIAL

MarDATE 10 No Class- Spring BreakT OPIC MATERIAL

JanMar 13 12 Introduction/SyllabusNo Class- Spring Break ∙ Syllabus

JanMar 15 14 Introductions/SyllabusNo Class- Spring Break ∙ Syllabus

JanMar 17 17 MarketingProducts &Overview Brands ∙∙ ChapterChapter 110

JanMar 20 19 NoProducts Class- &Dr. Brands Martin Luther King Day ∙ Chapter 10

JanMar 22 21 MarketingNew Products Overview ∙∙ ChapterChapter 111 Jan 24 Marketing & Strategy ∙ Chapter 2 Mar 24 New Products ∙ Chapter 11

Jan 27 Marketing & Strategy ∙ Chapter 2 Mar 26 Services Marketing ∙ Chapter 12 Jan 29 Marketing Plans Mar 28 Place: Marketing Channels ∙ Chapter 13 Jan 31 Marketing Ethics ∙ Chapter 3 Mar 31 Place: Marketing Channels ∙ Chapter 13 Feb 3 Marketing Ethics ∙ Chapter 3 Apr 2 Place: Supply Chain Management ∙ Chapter 14

FebApr 54 MarketingPlace: Supply Environment Chain Management ∙∙ ChapterChapter 414 Feb 7 Marketing Environment ∙ Chapter 4 Apr 7 Place: Retailing ∙ Chapter 15 Feb 10 International Marketing ∙ Chapter 5 Apr 9 No Class- AMA New Orleans Conference Feb 12 International Marketing ∙ Chapter 5 Apr 11 No Class- AMA New Orleans Conference Feb 14 Consumer Behavior ∙ Chapter 6 Apr 14 Place: Retailing ∙ Chapter 15 Feb 17 No Class- President’s Day ∙ Chapter 6 Apr 16 Promotions: Marketing Communications ∙ Chapter 16 Feb 19 Consumer Behavior ∙ Chapter 7 Apr 18 No Class: Good Friday Feb 21 Business Marketing ∙ Chapter 7 Apr 21 Promotions: Marketing Communications ∙ Chapter 16 Feb 24 Business Marketing Apr 23 Promotions: Advertising, PR, & Sales Promotions ∙ Chapters 17 & 18 Feb 26 Market Segmentation ∙ Chapter 8 Apr 25 Promotions: Advertising, PR, & Sales Promotions ∙ Chapters 17 & 18 Feb 28 Market Segmentation ∙ Chapter 8 Apr 28 Pricing I ∙ Chapter 19 Mar 3 Market Research ∙ Chapter 9 Apr 30 Pricing II ∙ Chapter 20 Mar 5 Market Research ∙ Chapter 9 May 2 Review Mar 7 MIDTERM EXAM TBA Final

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WITHDRAWAL: Refer to Student Handbook

** This syllabus is not to be construed as a contract with the student and may be subject to change**