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. 1 Marketing 1001 – Principles Dr. Frederick A. Palumbo 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. 2 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 3 Marketing 1001- Principles Dr. Frederick A. Palumbo 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. 4 Marketing 1001- Principles Dr. Frederick A. Palumbo 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