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.

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. Constructive participation is encouraged.

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.

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 extensive knowledge 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 with examples.

There is a demonstration of some ability to critically evaluate theory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture, reference material and cases. 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.

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