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JOHN CABOT UNIVERSITY

COURSE CODE: "MKT 301-3"
COURSE NAME: "Principles of Marketing"
SEMESTER & YEAR: Spring Semester 2012
SYLLABUS

INSTRUCTOR: Fuller Susan
EMAIL: [email protected]
HOURS: TTH 16:00-17:15
TOTAL NO. OF CONTACT HOURS: 45
CREDITS: 3
PREREQUISITES: Prerequisites: EC 201, MA 208
OFFICE HOURS: Before or after class, by appointment

COURSE DESCRIPTION:

The basic purpose of this course is to provide students with a basic understanding of marketing concepts and strategy and the marketing process.  Specifically these are:

1.      Develop a framework for market-led thinking.

2.      Develop an understanding of a firm’s motivations and options for market-led expansion

3.      Develop ability to use Market Audits, Consumer learning models, and Product –life cycle theories, to analyze the micro and macro environments in which firms compete in order to identify demand problems and opportunities that a firms should take into consideration when developing strategies that enable it to effectively adapt to change.

4.      Explore acquisition and sources of market information, both public and proprietary, and use them to evaluate   market potential and the delivered added value of market offers.

5.      Through a marketing computer simulation students will have a hands-on experience using marketing tools to understand the need to adapt marketing strategy and tactics to achieve marketing objectives. Students gain knowledge about the new product development process, market segmentation and targeting and related adjustments to product, place, price and promotion variables to achieve their positioning strategy. Success in delivering value to both the firm and its target markets is measured by Return on Marketing Investments ROMI.

6.      Develop both written and oral informative and persuasive communication skills through article presentations, case analysis and discussion and competitive presentation of marketing plans.

7.      Develop critical thinking and decision making skills through competing in a computer simulated market simulation.


            8.   Develop and improve creativity, planning, organizing, problem
SUMMARY OF COURSE CONTENT:

As a core course for the Marketing and Business Administration majors and  is designed to give the student a broad appreciation of the fundamentals of the strategic marketing planning process including: methods and tools of market assessment, customer segmentation analysis, development of the value proposition, and planning of marketing tactics designed to deliver value to targeted stakeholders. Emphasis is placed on the need to align marketing principles and theories with the management skills needed for the preparation of a marketing plan. Students may expect to spend a significant amount of time in reading course materials and learning to analyze and discuss case studies. A computer simulation is used to help students learn to choose and apply market research to formulate market propositions and to use financial tools to assess market results over time. The simulation requires students to scan market segments for changes in product/service demand, shopping habits to create and improve sustainable and competitive value propositions. 

Fostering a sustainable environment (one committed to delivering value for both buyers and sellers over the long term), is an important goal for this course is based on the student’s ability to apply the Marketing Concept philosophy, one which is built on effective intelligence gathering which is used identify and evaluate gaps: key opportunities and threat present in both the macro and micro business environments.  In this course, the student will begin to learn how to implement market and competitive audits, analyze environmental trend, forecast changing market demand and develop competitive marketing strategies.

This course requires both understanding of (knowledge and insight), as well as the ability to apply (skill) marketing principles to improve managerial decision making. Students should find this course both stimulating and challenging.  Throughout this course, students will be required to develop and improve their ability to organize and plan work both on an individual as well as a team basis.  Success of class discussions, written work (including exam papers) and oral presentations depend on strong persuasive argumentation.   Students needing assistance in organizing their arguments (quantitatively and qualitatively) are invited to make good use of the University’s writing and math labs.

Constructive class participation is expected. Unconstructive participation will be discouraged.

 

The pace of this course will be brisk and success will depend on the student’s ability to effectively plan his/her time.  Each class session’s material will build on previously discussed topics.  Students who complete all assigned work prior to each class session and periodically review material already covered, may expect to receive a C or better in the course.

LEARNING OUTCOMES:
By the end of the course, students are expected :

1.     To demonstrate an understanding of basic marketing concepts and theories and how they may be applied to business environments.

2.      To demonstrate awareness of qualitative marketing research techniques and be able to assess their suitability for exploring and defining research problems facing marketers.

3.      To demonstrate, through a computer simulation, the ability to manage a budget, evaluate and select profitable long-term target markets, develop a profitable pricing strategy and   effectively differentiate and position the marketing mix and achieve a minimum target ROMI of 1.0.

4.      To demonstrate familiarity with the design elements of the marketing offer and the role and effect such Buyer Readiness, Stage of Product Life Cycle, Cultural Values, and Type of Adopter have on each element’s ability to synergistically   deliver more value  than competitors to target  buyers  while achieving marketing objectives of a specified firm.

5.      To demonstrate the ability to write a realistic, coherent market assessment and develop a plan for a target market for a given case study.

6.      Be prepared to listen, prepared to share ideas, prepared to accept criticism and to act on it,  prepared to help others in the team - even if it is not their immediate role, and prepared to accept others, to question, be questioned and to be persuaded by different views, opinions and ideas.

TEXTBOOK:
Book TitleAuthorPublisherISBN numberLibrary Call NumberCommentsFormatLocal BookstoreOnline Purchase
Principles of Marketing 5th European EditionPhilip Kotler et alPrentice Hall Europe978-0-273-74327-9     
Marketing Game!C. Mason & W.D. Perreault, Jr.Boston, Irwin, 20020-256-13988-1 B      
REQUIRED RESERVED READING:
NONE

RECOMMENDED RESERVED READING:
NONE
GRADING POLICY
-ASSESSMENT METHODS:
AssignmentGuidelinesWeight
Market Planning (exercises 6 and 8)Market Planning Phases 1 and 2 Secondary and Primary Research Worth 20 percent A team/individual activity that involves collecting secondary and primary market research. Students will be required to gather; intelligence on the JCU market demand for various products and services. Teams will use different research methods to gather primary data and will make a short presentation of the method used, results of data mining and; and critical evaluation of the intelligence gathering experience. Grades will be determined both by individual contributions, as well as the team's overall performance in gathering, evaluating and presenting secondary resources, conducting primary research on the target market assigned and presenting results to the class using effective communication tools such as PowerPoint slides, handouts, exhibits, in-class demonstrations. Data collected should provide insight and data for segment profiles (benefits sought, buying behavior, usage, and buyer readiness) as well as a value proposition gap assessment. Phase 3 Marketing Plan Worth 20 percent. he final course project is the creation of a marketing plan based on data collected in phases 1 & 2. Students are required to apply all tools and models learned throughout the course. Please note. Unless authorized, late work will result in a zero (0) not; an F (1-59%). If you are having any problems contact your instructor at least 24 hours in advance by phone and/or e-mail. (see course syllabus in MKT 301 MYJCU)40 % (each exercise worth 20 %)
Marketing Computer Simulation Each student is assigned a firm to manage in a designated industry made up of four competing firms.Decisions are normally made weekly for a total of 5 (five) periods (decisions). The goal is to learn how to use both qualitative and quantitative data to create an improved and more profitable value proposition for a chosen target market. The goal is to effectively differentiate the marketing position, using a revised marketing mix, and achieving a minimum marketing MROI of 1.0 ( 75%) for your firm. Please note that spreadsheets are used extensively in this exercise and that once normally one class per decision will be held in the Tiber Computer Lab.10%
Midterm and Final ExamThere will be two exams (a midterm 15% and final exam 30%.) Examinations are in essay format referring to cases, exercises, readings, simulations etc. studied in the MKT 301 course. Full credit for essay questions will depend on the development and quality of your argument, the depth of your discussion of relevant marketing principles and theories, your ability to use appropriate marketing terminology , your inclusion of relevant examples from cases or exercises studied in class, as well as the overall quality of your written English. Make-up exams will only be administered in accordance with established university police (see University catalog).45%
Class participation / attendanceStudents are expected to attend all scheduled class meetings presented in the course outline. Since success in the marketing field requires a high level of interpersonal skills, grading to a greater extent that in other classes will be based on active class participation with the major emphasis on the quality of the contribution made and not the quantity Students who come to class with the intention of being a "spectator", may expect to see their final course grade lowered by as much as 5%. In marketing, we study the exchange process, which requires understanding and meeting customer expectations (in this case your instructor's). In MKT 301 at JCU, students are expected to take an active part in course "exchanges."This means: be creative! Pay particular attention to "packaging" yourself as well as your work so that you succeed in exceeding customer expectations and "delighting" your customer! Students have any difficulties in fulfilling this requirement, are requested to speak with the instructor early on in the course.5%

-ASSESSMENT CRITERIA:

Assessment Guidelines for assigning main letter grades: A, B, C,D, and F.

A:  Work of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensiveknowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.

B:  This is highly competent level of performance and directly addresses the question or problem raised.

There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.

C:  This is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.

D:  This level of performances demonstrates that the student lacks a coherent grasp of the material.

Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.

F: This work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.


-ATTENDANCE REQUIREMENTS:

Attendance/Participation:  No absence 100%; One absence 90%    Two absences  60%  Three absences 0%. More than three absences may results in up to 10 percent being subtracted from your final grade, and you may be asked to withdraw from the course.

Please refer to the university catalog for the attendance and absence policy
ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.
STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

Week 1 Topics: Markets , Demand and Value    Cases: 1        Exercises: 1 &2    Readings: 1
 
Week 2 Topics: Marketing Strategies                Cases: 2 &3    Exercises: 3 & 4    Readings: 5

Week 3 Topics: Consumer Markets                     Cases: 4       Exercises: 5 &6    Readings: 2     Simulation: Budgetig exercise

Week 4 Topic: Marketing Research                   Execute Exercise 6      Readings 2     Presentation 1

Week 5 Topic: Market Segmentation                Exercise 7 begins           Presentation 1

Week 6 Topic Differentiation Strategies                 Readings 6   Simulation Level 1

Week 7  Topic:  Review and             EXAM 1

Week 8  Topic  Product/Service Strategies                                     Simulation  Level 1

Week 9 Pricing Strategies                                                                   Simulation Level 1

Week 10  Communication Strategies                                              Simulation Level 2

Week 11  Distribution Strategies                                                   Simulation Level 2

Week 12  Field Work

Week 13  Marketing Plan Presentation
                                                                                                                                     
Week 14     Review and submit final written plan
                                                                                                                                                                                            
 FINAL EXAM