EXCEL - BUAD 306 ­

Principles of Marketing
Reoungeneria McFarland

EXCEL - BUAD 306

STUDENT ASSIGNMENTS

Week One

1. Read Pride & Ferrell, Chapters 1-5.
2. Read the article, "Marketing Myopia."

Week Two
1. Read Pride & Ferrell, Chapters 6-10.
2. For Chapters 1-5, select and answer one of the "Discussion Questions" at end of each chapter. Your responses should be 1-3 pages for each question.
3. Read the article, "Globalization of Markets."

Don't forget the quiz on Chapters 6-10!

Week Two
1. Read Pride & Ferrell, Chapters 11-15.
2. For Chapters 6-10, select and answer one of the "Discussion Questions" at end of each chapter. Your responses should be 1-3 pages for each question.

Don't forget the quiz on Chapters 6-10!

Week Three
1. Read Pride & Ferrell, Chapters 11-15.
2. For Chapters 11-15, select and answer one of the "Discussion Questions" at end of each chapter. Your responses should be 1-3 pages for each question.

Week Four
1. Read Pride & Ferrell, Chapters 11-15.
2. For Chapters 11-15, select and answer one of the "Discussion Questions" at end of each chapter. Your responses should be 1-3 pages for each question.




ABOUT THE CLASS
In general, everyone is influenced by marketing. Students will receive a working understanding of the concepts and procedures of marketing in today's environment, and its inter-relationship with other business functions. Students whose primary interests lie in other fields will come away with the foundation to understand how marketing relates to their primary area of interest.
Those interested in pursuing a career in the marketing field will acquire a sound basis for further study. Not only will successful students have a thorough understanding of Marketing, but also improved skills that are required by employers today in all fields.

MODULE OBJECTIVES
BUAD 306 is the core-marketing course in a division of business. It provides a decision-oriented overview of marketing in modern organizations. No matter what career path you choose, a basic understanding of the way markets operate is essential. As a consumer you should be especially interested in how marketers develop products, price them, distribute them and communicate with you. The most basic objectives of this course are to provide you with a broad introduction to marketing concepts, the role of marketing in society and in the firm, and the various factors that influence marketing decision making. Like other introductory survey courses, you will be exposed to and expected to learn the "language of marketing" (that is, terms, concepts, and frameworks) used by practicing marketing managers. However, it is also expected that by the end of the module you will have a solid understanding of the major decision areas under marketing responsibility, the basic interrelationships of those decision areas, and an appreciation of how to apply key frameworks and tools for analyzing customers, competition, and marketing strengths and weaknesses. In combination, then, the course should help you to develop insight about creative selection of target markets and blending decisions related to product, price, promotion, and place (i.e., the marketing mix) to meet the needs of a target market.
These objectives can only be achieved through a joint effort. I will work to stimulate your interest and learning in these areas, but you will be expected to display initiative and a program of self-study and group-study as well. In that sense, a complementary objective of the course is to provide you with an environment that will encourage and reward your own intellectual effort, while simultaneously maintaining rigorous standards that identify those who are motivated to pursue excellence in their own educational preparation for a business career.
Keeping this in mind the objectives of this course can be stated as:
o Describe the fundamentals of marketing theory and demonstrate an understanding of the marketing concept
o Explain the role of marketing within the firm.
o Discuss the environment within which the marketing firm operates.
o Explain the role of marketing information in the marketing management process.
o Describe the marketing segmentation process and the concept of target marketing.
o Explain the elements of the marketing mix and demonstrate an understanding of the integrated marketing mix concept.
o Apply the basic theories and principles of marketing in both a domestic and international context.
o Discuss the ethical and social impacts of marketing.
o Demonstrate an ability to write concise analytical marketing reports using the
appropriate marketing terminology and concepts.
o Use the Internet as a research and communication tool.
o Demonstrate an ability to participate with colleagues via an electronic medium

Class Structure
Discussion and student work is the primary mode of instruction. You'll read and write material, and the Instructor will provide some background material through informal lecture. Formal and informal writing assignments as well as presentations will help you integrate, synthesize, and present material. There will be frequent in-class writing assignments, quizzes, and collaborative activities.

LEARNING OUTCOMES
Upon successful completion of this course, the student will be able to:
o Define marketing and business operation focusing on the marketing
concept.
o Identify the steps in the marketing planning process.
o Differentiate the types and sources of primary and secondary data.
o Outline the role of market segmentation in developing a marketing
strategy.
o Explain the concept of the product life cycle.
o Identify alternative new product development strategies and the
determinants of each strategy's success.
o Discuss market segmentation and the marketing mix for services.
o Describe the various types of distribution channels and their roles in
marketing strategy.
o Explain the role of physical distribution in an effective marketing
strategy.
o Explain the concept of the promotional mix and its relationship to the
marketing mix.
o Explain how marketers assess advertising effectiveness.
o Explain the roles of public relations, publicity, and sponsorships.
o Explain the factors affecting the relative importance of personal
selling in the promotional mix.
o Identify the major categories of pricing objectives.
o Identify the various pricing policy decisions that marketers must make.
o Identify the major components of the environment for international
marketing and describe various methods and strategies for entering
foreign markets.
o Identify major ethical problems related to marketing activities.

INSTRUCTIONAL MATERIALS


TEXTBOOK(S) REQUIRED:
William M. Pride and O.C. Ferrell, Marketing 2000e: Concepts and Strategies. Boston: Houghton-Mifflin Company, 2000.

OTHER READING MATERIALS:
Dictionary - Reference Manual (Writing Handbook)
Readings and handouts distributed periodically throughout the module.
AUDIO-VISUAL MATERIALS: May be provided by instructor.
TOOL(S) AND EQUIPMENT:
3 1/2" computer disk for computer assignments.

OFFICE HOURS
I expect you to take advantage of my office hours for one-on-one conferences. You can either schedule an appointment or drop in during my hours. I like it when you have specific issues you want to work on (e.g., to talk over ideas for a paper, to review an outline, to plan research, to revise a draft, etc.) If my office hours conflict with your class or work schedule, I'll try my utmost to meet with you at different times. You have my office phone number and e-mail address, so you should always be able to reach me or get a message to me. I will always reply.
Technology is playing an increasingly important role in organizations. We will be utilizing technology (e-mail, electronic presentations, World Wide Web) throughout the course. E-mail is the very reliable way to get in touch with me. The web page will frequently be updated with material relevant for class discussion and assignments. You are responsible for checking it regularly to make sure you are up-to-date.

STUDENT EVALUATION
In order to earn a passing grade in BUAD 306, you must attend, participate, and successfully complete all assignments. Your final grade for the course will be mathematically computed from the point total for all evaluated assignments as follows.
Class Participation (25% of grade)
Quizzes (10% of grade).
Exercises (25% of grade).
Final Assignment (40% of grade).

In-class Assignments
Four brief quizzes will be given during the semester, based on the reading assignments in the Pride & Ferrell text. Your lowest quiz grade can be dropped at the end of the module. Most of these quizzes will be given at the end of the class periods, and are designed to summarize our intensive group discussions. You'll also participate in several in-class writing exercises.

Final Assignments
Each student is required to complete a Final Assignment of 6-12 pages, which is due at the beginning of the first session of the next module. The Final Assignment must include each of the following:
1. A written analysis of a case study provided by the Instructor. The case study is to be analyzed from the viewpoint of applying the principles of marketing contained in this module.
2. A written "Marketing Plan" prepared in accordance with the instructions
Provided in the Student Guide and additional instructions provided by the
Instructor.

FORMAT FOR ASSIGNMENTS
Unless you are directed otherwise, all writing work to be done outside of class will be word-processed and printed on high-quality paper. Remember to back up all of your work, and plan ahead because mechanical difficulties and long waiting lines develop at campus computer facilities. These problems won't suffice as excuses for late work. The format requirements of each individual assignment depend on what kind of document you're composing. As a rule, use plenty of white space, ample margins, and boldface, underlining, italics, headings, and other devices to highlight the organization of your texts. If you're unsure about these issues early in the semester, turn in "hard copies" of assignments double-spaced, left-justified, 12-point type, with top, bottom, and right margins of "1" inch, left margin "1 1/2" inch. We'll discuss format issues in class, and I'll always be ready to take questions.

Format of Final Report
This is a business report and the final report should conform to the format normally used for business reports. Groups should carefully spell check and proof read the final report. They should also check for grammar and consistency in terms of terminology and make sure that page numbers are included. Some of the essential components:
Table of Contents
Executive Summary
Body of the Report (different sections with appropriate sub-headings)
References
Appendix (including any tables, exhibits, illustrations, etc.)
Grading Criteria
The grading criteria for the final report is as follows:
Target Market 30%
Product 15%
Price 10%
Place 10%
Promotion 15%
Spell Check/Proof Read 5%
Executive Summary/Appendix 5%
Overall Integration 10%
Total 100%

Target Market:
This is one of the most critical sections of the whole project. A suggested guideline to be followed is given below:
1. Introduction
2. Defining the potential customers - In this section, identify all those who do not form part of the potential market. Eliminating these groups of people should give you the potential group of people who are likely to buy the product.
3. Identify criteria (e.g., demographic - age, income; psychographic, geographic, etc.) to create multiple segments (suggested number - 3) for further evaluation - it is suggested that the groups examine all of the criteria and determine (through discussion) which ones would be useful in differentiating purchase intention across the potential customer target market. It should be ideal to have about 2 or 3 criteria on which this differentiation will occur.
4. Create multiple (suggested number - 3) segments and describe in detail.
5. Evaluate segments.
6. Select primary target market.
Product
These are the sections that can be included:
1. Introduction.
2. Description of the product - what is it and what does it do?
3. Benefits - need to relate the benefits to the specific target market chosen in the earlier section.
4. Adoption - relate the characteristics of the product to the adoption criteria and explain what can be done to speed up the adoption process.
5. Managing the product - a small section on how the product will be managed over its life. Product life cycle concepts could be useful here.
6. Brand name - select and defend brand name. Also explain how it is appropriate for the product category and target market.
7. Packaging - Explain the type of packaging for the product. Also explain how it is appropriate for the product.

Price
These are the sections that can be included:
1. Introduction
2. Pricing Objectives.
3. Introductory pricing strategy - penetration versus skimming prices. If product is not totally new, you should not be using introductory pricing strategy. You may want to use one of the following:
High price, high quality (Premium strategy)
Low price, low quality (Economy strategy)
Low price, high quality (Good value strategy
High price, low quality (Overcharging strategy)
Before you select a strategy, please ensure that you discuss its appropriateness to your product and target market.
4. Future prices for the product - Include discussion on whether demand for product would be elastic or inelastic.
5. Actual prices proposed to be charged - some groups may do a break even analysis. This could also include a discussion on whether the group is planning to have any type of psychological pricing strategy.
As always it is important to relate everything to the target market. Also, make sure that you use sufficient arguments to support any assumptions.

Place
1. Introduction.
2. Deciding on the distribution channel - this should include discussion on both wholesalers and retailers. In the section on wholesalers, you need to decide on how many intermediaries would be necessary for your product. In the section on retailers, you would decide on the actual type of retailers.
3. Distribution intensity

Promotion
1. Introduction.
2. Promotional objectives - these could be one or more of the following:
a. Provide information
b. Create awareness
c. Increase demand
d. Differentiate product from competitive offerings
e. Accentuate value of product
f. Stabilizing sales of seasonal offerings
3. Push versus Pull strategy - selection of appropriate strategy. It could also be a combination, with more emphasis on one as compared to the other.
4. Type of media to be used - discussion and selection of appropriate media.
5. An actual ad with a discussion on why the various components are important, how the consumers would process your ads, and how you expect them to behave after processing the ad.
Extremely important to relate to target market in all aspects.

LOCATION

Late Work
Keeping deadlines an important part of a businessperson's life. We will operate as "real world" businesses do; each assignment will have a specific deadline. Our course is so compressed (5 weeks), that it's extremely important to keep up. Your work is to be on time, all the time. Be advised that instructors are not required to accept or evaluate late work. In other words, late work may not be accepted, unless prior arrangements have been made which involves your (1) contacting me before the assignment is due by means of formal memo (either hard or electronic copy), explaining the reason for the delay, and (2) your proposing in the memo a reasonable deadline (less than one week), which you then keep. The memo stands as a contract between you and me. Failure to keep the new deadline breaks the contract, and I won't accept your work. Use this option no more than once during the module. Oral presentations, in-class assignments, and quizzes are obviously excluded from this option; they're always due on the assigned date.



CLASS PARTICIPATION
A significant portion of the grade in this class is derived from the participation of the individual student in classroom discussion. There are several reasons for the emphasis on participation. The most direct reason, of course, is the use of this vehicle for the instructor to assess the level of understanding of course material. The most important aspect of participation, though, revolves around the fact that full, participative discussion allows students to develop a better comprehension of partially understood material. This will occur if students will ask questions of the instructor or of classmates during class discussions. A further benefit to be derived is the practice the student will get in informal oral communications and in the use of one's peers to refine concepts and solve problems.
The greatest benefits will be obtained from class discussions when class members come to class prepared for the discussion. The unprepared student may find that classmates or the instructor will be discussing unfamiliar concepts, and there may not be another convenient opportunity for a clarifying discussion.
Many students are reluctant to enter fully into a classroom discussion because of an innate shyness or a fear that other students will belittle the discussant. The fact is that, if any student has a question or needs clarification on one or more points, there are probably several other students who also would like to ask the question but are too reticent. In the very rare instance in which a student needs explanation on a point that is well understood by everyone else in the classroom, the student should remember that the purpose for being in the class is that of obtaining as much knowledge as possible and that classmates, in addition to the instructor, are really there to be as helpful as possible.
Those students who have not become comfortable with freewheeling classroom discussion will probably have to do some preparation to get started with the process. One of the best ways to get started is to write out a question or a comment on the topic for discussion during the next class period and, as soon as the class begins, ask the question or make the comment. The material for these contributions is readily available from reading the assigned text material or the general literature of business before the class meeting. Any subject of interest to the student and relevant to the topic at hand is appropriate and the contribution will be welcomed by the instructor. A little practice with this preparation process will usually put the student at ease in discussion situations and allow both a fuller classroom discussion and a better understanding by the individual.
Please be advised, there is no way that a student who is not present can participate in the discussion. Further, while simple class attendance will not provide maximum benefit for the student, just being present during a discussion yields a finite probability that some of the discussion will be remembered.
Any relevant contribution that clearly demonstrates preparation on the part of the student will impact your participation evaluation. The contribution must have some bearing on the topic under discussion, but a great deal of latitude is given. "Preparation" means that the student has read the assigned material and given some serious thought to the concepts under discussion. This may be shown by appropriate reference to the assigned text material or to some outside reading, such as the Wall Street Journal, which shows deliberate consideration.
Those contributions that are of such quality as to make a significant difference to the discussion will merit additional consideration in the assessment of the participation score. This level can be obtained by providing "on-the-spot" comparisons of prepared material with comments offered by other students, by showing how the topic can be expanded beyond that given in the text, or by other methods of showing excellent grasp of the material and a willingness to use the class discussion to improve the learning process.
Other than those rules required to allow an orderly discussion which can be heard by all participants, the discussion formats will be as informal as possible.

ARTICLES

FINAL ASSIGNMENT

FORMAT OF MARKETING PLAN

Format of Final Report

This is a business report and the final report should conform to the format normally used for business reports. Groups (4-5 per group) should carefully spell check and proof read the final report. They should also check for grammar and consistency in terms of terminology and make sure that page numbers are included. Some of the essential components:

Table of Contents
Executive Summary
Body of the Report (different sections with appropriate sub-headings)
References
Appendix (including any tables, exhibits, illustrations, etc.)

Grading Criteria

The grading criteria for the final report is as follows:

Target Market 30%
Product 15%
Price 10%
Place 10%
Promotion 15%
Spell Check/Proof Read 5%
Executive Summary/Appendix- 5%
Overall Integration 10%
Total 100%

Target Market:

This is one of the most critical sections of the whole project. A suggested guideline to be followed is given below:

1. Introduction

2. Defining the potential customers - In this section, identify all those who do not form part of the potential market. Eliminating these groups of people should give you the potential group of people who are likely to buy the product.

3. Identify criteria (e.g., demographic - age, income; psychographic, geographic, etc.) to create multiple segments (suggested number - 3) for further evaluation - it is suggested that the groups examine all of the criteria and determine (through discussion) which ones would be useful in differentiating purchase intention across the potential customer target market. It should be ideal to have about 2 or 3 criteria on which this differentiation will occur.

4. Create multiple (suggested number - 3) segments and describe in detail.

5. Evaluate segments.

6. Select primary target market.

Product

These are the sections that can be included:

1. Introduction.

2. Description of the product - what is it and what does it do?

3. Benefits - need to relate the benefits to the specific target market chosen in the earlier section.

4. Adoption - relate the characteristics of the product to the adoption criteria and explain what can be done to speed up the adoption process.

5. Managing the product - a small section on how the product will be managed over its life. Product life cycle concepts could be useful here.

6. Brand name - select and defend brand name. Also explain how it is appropriate for the product category and target market.

7. Packaging - Explain the type of packaging for the product. Also explain how it is appropriate for the product.

Price

These are the sections that can be included:

1. Introduction

2. Pricing Objectives.

3. Introductory pricing strategy - penetration versus skimming prices. If product is not totally new, you should not be using introductory pricing strategy. You may want to use one of the following:

High price, high quality (Premium strategy)
Low price, low quality (Economy strategy)
Low price, high quality (Good value strategy
High price, low quality (Overcharging strategy)

Before you select a strategy, please ensure that you discuss its appropriateness to your product and target market.

4. Future prices for the product - Include discussion on whether demand for product would be elastic or inelastic.

5. Actual prices proposed to be charged - some groups may do a break even analysis. This could also include a discussion on whether the group is planning to have any type of psychological pricing strategy.

As always it is important to relate everything to the target market. Also, make sure that you use sufficient arguments to support any assumptions.

Place

1. Introduction.

2. Deciding on the distribution channel - this should include discussion on both wholesalers and retailers. In the section on wholesalers, you need to decide on how many intermediaries would be necessary for your product. In the section on retailers, you would decide on the actual type of retailers.

3. Distribution intensity

Same comment as above (in price) as far as target market and assumptions are concerned.

Promotion

1. Introduction.

2. Promotional objectives - these could be one or more of the following:
a. Provide information
b. Create awareness
c. Increase demand
d. Differentiate product from competitive offerings
e. Accentuate value of product
f. Stabilizing sales of seasonal offerings

3. Push versus Pull strategy - selection of appropriate strategy. It could also be a combination, with more emphasis on one as compared to the other.

4. Type of media to be used - discussion and selection of appropriate media.

5. An actual ad with a discussion on why the various components are important, how the consumers would process your ads, and how you expect them to behave after processing the ad.

Extremely important to relate to target market in all aspects.

LOCATION

GROUPS (Tuesday)

Group 1 - Rice, Fanion, Muse, Mabry

Group 2 - Sanders, Hardy, Boulton, Lacey, Allen

Group 3 - Stewart, Stewart, Tate, Jefferson,

Group 4 - Fitzgerald, Johnson, Rivers, Hilliard

GROUPS (Saturday)

Group 1

Group 2

Group 3

Group 4