Yeshiva University 8/2012 SYMS SCHOOL OF BUSINESS

Course Outline – Fall 2012

Marketing 1001 – Principles Dr. Frederick A. Palumbo Sections 211/231 E-mail: [email protected]

Office: Wilf Campus - BH 424 Office: Midtown Campus – Room 413B Tel: 212-960-0843 Tel: 917-326-4830 Tel: 212-960-0845 (SYMS Office-BH 412) Tel: 917-326-4839 (SYMS Office-Rm 321) Office Hours: M/W: by appointment Office Hours: M/W: by appointment ------Course Objectives People often define "marketing" as advertising - a highly visible activity by which organizations try to persuade consumers to buy products and services. However, marketing is much more than advertising and even the most skillful marketing cannot make consumers buy things that they don't want.

Marketing involves two basic sets of activities. The first set starts with identifying consumer needs and ends with positioning the product or service to satisfy those needs and differentiate it from competition. In between, rigorous analysis of the competition, the customer, the environment, and the company's own capabilities are required. The second set of activities revolves around the "marketing mix" -letting the consumer know about the product in an attention-getting, convincing, and motivating way, getting it to the consumer through the best combination of distribution channels, pricing it effectively, and offering incentives to try, purchase, and purchase more. Failure to get one of these activities right may result in the failure of the product. Positioning is the key to product success, but even a perfect product with brilliant positioning won't last long if its benefits are not clearly communicated to the right people, if its price is to high or too low, if it is sold through the wrong retailers, or displayed poorly.

The objectives of this course are to acquire a basic knowledge of: o The importance of consumer behavior in decision-making o The bases and uses of market segmentation o The tactics and strategies for pricing and profitability o The positioning of product and service categories o Logistics: the value chain and role of distribution & channel management o Integrated marketing communications

Top Business Marketing Challenges 1. Expand understanding of customer needs, market segments; drivers of customer value. 2. Competing globally as China and India reshape markets. 3. Master analytical tools and improving quantitative skills. 4. Reinstate innovation as an engine of growth. 5. Create new organizational models and linkages. 6. Improve return on marketing investment (ROMI) decision making. 7. Demonstrate and document delivered customer value, and price accordingly.

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Note: In order to get the most from this course it is extremely important that you are prepared for class. I will ONLY HIGHLIGHT the material covered in the text or readings, on the assumption that you can do the required background reading yourselves. Questions? It is your responsibility to raise them in class. PowerPoint information does not cover all you need to know. Examinations will come from the textbook, so please read each chapter; take notes!

Required Text Marketing 10 Edition, by Kerin, Hartley & Rudelius, Irwin.McGraw-Hill, 2010 ISBN: 978-0-07-3529936

Student Additional & Optional Support: The book is available in both hard copy and loose-leaf format. The two are identical, but the latter costs less, requires a binder, and cannot be resold at the end of the semester. You may also be able to sign up for an eBook online: visit www.CourseSmart.com; or via www.chegg.com search by title, author, or ISBN.

Recommended Additional Resource: American Marketing Association: www.marketingpower.com American Demographics: www.marketingtools.com Census Bureau: www.census.gov; Department of Commerce: www.commerce.gov

Angel Courseware Homepage: (information will be posted on Mar 1001 site) All communication will be via the YU e-mail system. Angel problems? Contact: [email protected]

Attendance Policy & Classroom Demeanor As university students, your education is your own choice, and thus your attendance in lectures is not required but highly recommended. In my experience those who do not attend class regularly do not performed well.

Reasonable attendance is expected and required. Reasonable absence is defined as twice the number of times the class meets per week (i.e. 2x2=4). Any special requests for personal time away from class and/or early travel must be approved by the SYMS Office at Beren Campus in 215 Lex - Room 321; or Wilf Campus – BH 412.

When in class, your presence is required. This means: o Arrive on time o Avoid unscheduled personal breaks o PDA’s, laptops, phones are closed and away. No lifeline needed. o Respect the views and opinions of your colleagues

Office of Disability Services Students with disabilities who are enrolled in this course and who will be requesting documented disability-related accommodations should make an appointment with the Office of Disability Services, (646) 685-0118, during the first week of class. Once you have been approved for accommodations, contact me to ensure the successful implementation of those accommodations.

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Marketing 1001 – Principles Dr. Frederick A. Palumbo

Grading: I need to be consistent in assigning final grades. Some adjustments, up or down are made after looking a raw scores and reflecting on a student's contributions to class discussions, absences etc. When a student stands out among his/her peers or is non-responsive, misses many classes, etc. scores are adjusted up/down to determine a final grade. Some students may receive a higher or lower grade than their raw scores that are posted on Angel. My system of grading has been in place for years at YU.

My grading scheme is as follows: A = 95+; A - = 90-94; B + = 86-89; B = 83-85; B - = 80-82; C + = 76-79; C = 73-75; C - =69-72; D + = 65-68; etc.

Instructor student rating 0- 5 Contemporary Marketing Issues (Individual Assignment –no teams) 10 (due Monday, November 5) Three semester exams 45 (No make-ups: each exam = 15 points) Marketing Strategy Report (teams of 1-3) 40 (due Reading Week) 100%

Dr. Fred Palumbo Biography

Dr. Palumbo has been with the Syms School of Business since 1993. He is Chair for Management and Marketing. His credentials include 25 + years in business as an executive with a number of multinational firms. He earned his Ph.D. from New York University; MBA from St. John’s University and undergraduate degree from CUNY-Baruch. Dr. Palumbo’s teaching, business and research interests are in marketing with application to international environments. His articles have appeared in a number of management and marketing journals. He is on the editorial advisory board for the European Journal of Innovation Management.

Facebook Comment: Thoughts from a recent Business Week article by Stanley Bing “I’m not sure I like Facebook. I have a feeling there are many like me but are ashamed to say so. Call me a reactionary. But I can’t believe that in the future everybody is going to continue to want to share things. In fact, I hate to share my stuff! I don’t share my thoughts, except for love or money. I don’t want you to see my pictures or that video of you via a social media site. My friends are not my friends. In reality, we all have maybe four or five actual friends. They know who they are. Facebook is all about being marketed to, too. If you want to sell something, you gotta be on Facebook! Well, I don’t want to Like Burger King, although I do like Burger King.”

Definitions: Browser……a casual shopper Tweet…..a sound a bird makes Cookie…..something you eat with milk

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Weekly Schedule Assignments (adjustments will be announced) August Monday 27 Introduction Wednesday 29 Chapter 1 – Customer Relationships & Value

September Monday 3 Labor Day – Holiday…no class Wednesday 5 Chapter 2 – Developing Successful Strategies Monday 10 Chapter 22 – The Strategic Marketing Process Wednesday 12 Chapter 3 – Marketing Environment

Rosh Hashana –Sukkos Break 9/14-10/10 October Monday 15 Chapter 4 – Ethical & Social Responsibility Wednesday 17 Chapter 5 – Consumer Behavior Monday 22 EXAM 1- CHAPTERS 1-5 & 22 Wednesday 24 Monday 29 Chapter 7 – Global Consumers & Markets Wednesday 31 Chapter 8 - Research

November Monday 5 Chapter 9 – Market Segmentation (Contemporary Issues in Marketing due) Wednesday 7 Chapter 10 – Developing New Products & Services Monday 12 Chapter 11 – Brand/Product Management Wednesday 14 Chapter 12 – Services Marketing Monday 19 EXAM 2 – CHAPTERS 7-12 Wednesday 21 Monday 26 Chapter 13 – Building the Price Foundation Wednesday 28 Chapter 14 – Arriving at the Final Price

December Monday 3 Chapter 18 – Integrated Marketing Communications Wednesday 5 Chapter 19 – Advertising, Sales Promotion & PR Monday 10 Chapter 21 – Interactive & Multichannel Marketing Wednesday 12 Oral Presentations Monday 17 Oral Presentations Wednesday 19 EXAM 3 – CHAPTERS 13, 14, 18, 19 & 21 Monday 24 No class…..my holiday…Christmas eve.

Marketing Strategy papers can be dropped off at Syms Office – BH 412 during Reading Week.

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Contemporary Marketing Issues Report – Due Monday, November 5

Note: This is an individual assignment….no teams

The special topics written report is due at the beginning of the presentation. It is type-written, includes a cover page, a maximum two pages of content (single spaced with double spacing between the paragraphs & headings), and the following headings:

(1) Introduction to the Special Topic - provide background, justification of the topic (importance/relevance), and connection to the textbook.

(2) Issue or Controversy - present the details; include facts and quotes concerning both sides; reference sources; do not present opinions in this section; don’t bias the facts;

(3) Position & Management Recommendations - specifically state and justify a position on the issue and separately provide marketing managerial recommendations concerning the topic;

(4) References – follow an acceptable format (such as MLA, APA or Turabian style); besides the text, a minimum of 5 sources from at least 3 different publications is required; only web sources from established trade publications or magazines will count and only if cited properly and completely.

The written report is graded on professional appearance, quality and quantity of content, and quality and quantity of reference/sources.

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Individual Contemporary Marketing Issues Report (worth 10%)

General Topics: Special Topics: Potential Sources:

Research - Surveys on the Internet or via e-mail. American Demographics - Market research in schools. Census Bureau - Random-digit dialing surveying.

Targeting - Promoting to narrow targets based on religion, Marketing News sexual orientation or ethnicity. Advertising Age - Marketing to kids.

Product - MP3, iPads and the copyright Business Week controversy. Red Herring - Social media and marketing. Barrons -Genetically modified food.

Price - Pricing Forbes - Free PCs and ISPs Computer Shopper

Place - Category killers versus smaller retailers Journal of Retailing - Sales tax and direct order shopping. INC -Buying automobiles online. U.S. News & World Report

Promotion - Advertising or sales promotions to children. Advertising Age - Databases and privacy. Sales & Marketing Management - Banner ads on the web. Promotion Marketing Association

Ethics -The ethics/legality of telemarketing, DM News sweepstakes, state lotteries. New York Times - Pharmaceuticals/Energy drink marketing Journal of Business Ethics

Global -European Union and free trade. Financial Times Economist

Consumer -"Mud-slinging" in the 2012 U.S. Presidential Lexis-Nexis Behavior campaign for attitude change (news database) -"Spamming" to trigger need recognition Time/WSJ/NYT - Professional athletes/celebrities as opinion leaders

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Marketing Strategy Report (worth 40%)

Teams of 1-3 will work in self-directed teams on a marketing project. Maximum length is 20 pages of text (Times Roman, 12 point) not including tables and appendices.

Each group will pick an industry. Within this industry, two companies will be chosen:

1. A company which is doing well, and 2. A company which is not doing as well as 1.

The task is to:

o Completely analyze and compare these two businesses with regard to their marketing practices. In particular, you should focus on the analysis of marketing issues (i.e. customer, competitor, industry, technology, government, self, product (features), pricing, distribution (including sales force), advertising, sales promotion analyses), which the team feels are important in explaining the differences between the performance of two companies. Non-marketing reasons should be briefly mentioned. Clearly outline your assumptions and thought processes.

o Suggest actions and strategies (on each issue), which your team feels would enable the weaker and stronger company to improve its market position. Clearly outline your team’s assumptions and thinking.

Your selection of two companies will have to be approved, although your team will be given considerable freedom to follow your own interests. Since the project will require a significant amount of your time and effort select companies in which your team is personally very interested. Examples of company groupings:

Intel vs. Qualcomm Baidu vs. Google IBM vs. SAP Intuit vs. Adobe Cisco vs. Oracle Amazon vs. Priceline Merck vs. Pfizer McAfee vs. Symantec AT&T vs. Verizon MasterCard vs. Visa Tiffany vs. Coach Bank of America vs. Citibank Goldman Sachs vs. Morgan Stanley Nintendo vs. Zynga Apple vs. Samsung Yahoo vs. Research in Motion LinkedIn vs. Facebook Starbucks vs. Dunkin Brands Angie’s List vs. Groupon Yum Brands vs. P&G

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Strategy Report Grading Criteria

1. Required form: typed, 8 ½ x 11 paper, double spaced, appropriate format 2. Grammar & Construction (spelling, sentence structure, paragraphing, proper use of quotations. 3. Organization (logical order of material, smooth flow, interesting & effective style professional appearance. 4. Situation Analysis (up-to-date and relevant data – the company, the market, the competition). 5. Marketing Objectives (realistic, consistent with mission/objectives, achievable within available resources. 6. Marketing Strategy (effective marketing mix, pragmatic, cost effective, persuasive).

Peer Evaluation: Due to the team approach of this exercise, it is essential that each member effectively support the activities of the group. To help insure this, each student’s project scores (for both the written proposal and oral presentation) will be adjusted by the input of the other members of the group. The project score will be multiplied by the peer score to arrive at each student’s score for the strategy project. For example, if the raw score for the written marketing strategy report was a 95 and a particular student’s peers evaluation score was a 98, that student would receive a 93 for the strategy project (.98x95).

Some Interesting Marketing Facts

1. A dime has 118 ridges around the edge. 2. If you are the average American, in your whole life, you will spend an average of 6 months waiting for red lights. 3. It’s impossible to sneeze with your eyes open. 4. Women blink nearly twice as much as men. 5. The sentence: “The quick brown fox jumps over the lazy dog” uses every letter of the alphabet. 6. No word in the English language rhymes with mouth, orange, silver or purple. 7. If the population of China walked past you, in single file, the line would never end because of the rate of reproduction. 8.All 50 states are listed across the top of the Lincoln Memorial on the back of the $5 bill

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Secondary Marketing Sources

Links to secondary data sources:

 AMA Demographics Service - Provides unlimited access to U.S. Census data including summary, comparison and ranking reports for your research.

 Harvard Business School Links - http://www.library.hbs.edu/econstat/

 PollingReport.com - An independent, nonpartisan resource on trends in American public opinion.

 SecondaryData.com - Marketing Resources Links, provided by Decision Analyst, Inc.

 Statistical Resources on the WEB, University of Michigan - http://www.lib.umich.edu/govdocs/stecon.html, comprehensive list of data sources and links.

 U.S. Bureau of Economic Analysis, Survey of Current Business - http://www.bea.doc.gov/

 U.S. Bureau of Labor Statistics - http://www.stats.bls.gov/, good data source and excellent links.

 U.S. Census Bureau- http://www.census.gov/

 U.S. CIA - Handbook of International Data - http://www.ntis.gov/business/ciahand.html

 U.S. CIA - Handbook of International Economics - http://www.cia.gov/cia/di/products/hies/

 US. Department of Commerce - Links to National and International Governmental Databases - http://www.fedworld.gov/

 U.S. Economic Census - http://www.census.gov/econ/www/econ_cen.html

 U.S. Federal Reserve - http://research.stlouisfed.org/fred/

 U.S. Government Materials - http://www.fedstats.gov/

 U.S. Office of Trade and Economic Development - http://www.ita.doc.gov/tradestats

 U.S. Statistical Data International and National Stat-USA -http://www.stat- usa.gov/BEN/newsrel.html, excellent links and information.

 U.S. White House Economic Briefing Room - http://www.whitehouse.gov/fsbr/esbr.html

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YOU KNOW YOU ARE LIVING IN 2012 when...

1. You accidentally enter your PIN on the microwave.

2. You haven't played solitaire with real cards in years.

3. You have a list of 15 phone numbers to reach your family of three.

4. You e-mail the person who works at the desk next to you.

5. Your reason for not staying in touch with friends and family is that they don't have e-mail addresses.

6. You pull up in your own driveway and use your cell phone to see if anyone is home to help you carry in the groceries.

7. Every commercial on television has a web site at the bottom of the screen

8. Leaving the house without your cell phone, which you didn't even have the first 20 or 30 (or 60) years of your life, is now a cause for your parent’s to panic and turn around to go and get it.

9. You get up in the morning and go on line before getting your coffee.

10. You start tilting your head sideways to smile. : )

11. You're reading this and nodding and laughing.

12. Even worse, you know exactly to whom you are going to forward this message.

Don't delete this just because it looks weird. Believe it or not, you can read it.

I cdnuolt blveiee that I cluod aulaclty uesdnatnrd what I was rdanieg. The phaonmneal pweor of the hmuan mnid Aoccdrnig to rscheearch at Cmabrigde Uinervtisy, it deosn't mttaer in what oredr the ltteers in a word are, the olny iprmoatnt tihng is that the first and last ltteer be in the rghit pclae. The rset can be a taotl mses and you can sitll raed it wouthit a porbelm. Tihs is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the wrod as a wlohe. Amzanig huh?

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