Winter 2000

Professor Attila Yaprak

307 Prentis Building
Tel: 577-4842 or 577-4525
Email: Attila.Yaprak@wayne.edu
Office Hours: Mondays and Tuesdays 4-6 p.m. or by appointment

TEXT:

E. N. Berkowitz, R. A. Kerin, S. W. Hartley, W. Rudelius, Marketing, 6^th Edition (2000), Irwin-McGraw Hill, Boston.

RELEVANT JOURNALS/PERIODICALS OF INTEREST:

COURSE OBJECTIVES:

My objective in this course is to introduce the fundamental principles of marketing management to first-to-marketing, undergraduate students. I hope to achieve this by focusing the course on the theories and practice of the key ingredients of marketing strategy, in both its domestic and global contexts. I also hope to help students apply these principles through case analyses, Internet exercises, and video presentations. Finally, I hope to prepare students for further study in the marketing discipline and for successful careers in the marketing field.

After completing this course, students will have learned:

• the fundamental concepts, terminology, ideas, and actions that make up the discipline of marketing;
• the methods used in its practices;
• how marketing practice takes place within a broad domestic and international economic, political, sociological and technological environment;
• how the marketing function is inextricably intertwined with the other functions in the organization such as finance and strategic management, and with other disciplines such as psychology and anthropology; and
• how effective management of the marketing function leads to improved organizational performance.

This knowledge will have prepared you for further study in marketing, for instance in consumer and organizational behavior, advertising and/or public relations, product or brand management, supply chain management, marketing research, and global marketing management. It will also have prepared you for internships and some introductory positions in marketing.

By its very nature, marketing is a very interdisciplinary field in both its theory and practice. To foster an appreciation in you for this interdisciplinearity, I have tried to integrate various perspectives into the course. These include historical, social and ethical, cross-cultural/global, technological, and integrative dimensions. For instance, the technological and global perspectives are covered in our discussion on understanding markets and marketing opportunities, the historical, social and ethical, and technological perspectives are covered in our discussion on the changing marketing environment, and the integrative perspective is covered through cases, class exercises and discussions throughout the course.

GRADING PROCEDURE:

The course grade is composed of four components: (1) a midterm exam on the material covered in the first third of the course (100 points); (2) a second midterm exam on the material covered in the second third of the course (100 points); (3) a comprehensive final exam emphasizing the material covered in the last third, but also on the major ideas from the first two thirds, of the course (150 points); and (4) involvement which includes performance on the assigned cases (60 points), quizzes (50 points), and class participation (40 points) for a total of 500 points in the course. Attendance is required. Each student is allowed 2 absences without penalty; more absences will lower the student’s involvement grade. Make-up exams, incompletes and withdrawals will be given only in serious, health-related circumstances (major surgery, serious illness such as hepatitis, diabetic attack, etc.), and a doctor’s letter proving the illness.

January 10: Introduction to the Course: markets and marketing; exchanges, customer relationships and value; linking marketing and corporate strategies; micro and macromarketing; market orientation; strategic planning, the strategic marketing process; and marketing organization.

January 17: Martin Luther King Day. No class!

January 24: The Changing Marketing Environment: the sociological, economic, technological, political, competitive and cultural environment in which marketing activities take place, ethics and social responsibility in marketing; green and cause-related marketing; social audit.

January 31: Consumer and Organizational Buyer Behavior: the purchase decision process; psychological and sociocultural influences on buyer behavior; the nature of organizational markets and marketing; stages in the organizational buying process.

February 7: Understanding Markets and Buying Opportunities: the nature and dynamics of world trade and investment; marketing in the boarderless world; global competition and economic integration; global consumers and cultures; cosmopolitanism and parochialism; ethnocentrism and geocentrism; global market entry strategies and crafting and implementing a global marketing effort; interacive marketing and electronic commerce; marketing by the e-corporation through the internet, intranet and extranet; buyer behavior of online consumers; web communities and webcasting.

February 14: Marketing Information Systems and Marketing Research: turning marketing information into marketing action; the research plan and the research process; methods and data analysis; sampling and interpretation of research findings; sales and demand forecasting.

February 28: Market Segmentation, Market Targeting, and Positioning: why and when to segment markets; the targeting and segmentation process; product positioning and repositioning; product differentiation.

March 6: Developing and Managing Products: the new product development process; why products succeed and fail; market testing and commercialization of products; managing products and brands; life cycles of products; branding, brand personality and brand equity; packaging and warranty strategies.

March 20: Managing of Services, Costing and Pricing of Products and Services: the unique requirements of services marketing; assessing service quality; managing the marketing of services; relating revenues and costs to pricing; the price setting process; estimating cost, volume, and profit relationships; pricing methods; company, customer, and competitive effects on pricing; price discrimination and deceptive pricing practices.

March 27: Marketing Channels, Wholesaling and Retailing: the nature and importance of marketing channels; value generated by intermediaries; direct and indirect channels; channel choice and management; channel conflict, cooperation, and power; the value and impact of wholesaling and retailing; the wheel of retailing; types of retailing and retailing strategy.

April 3: SECOND MIDTERM EXAM

April 10: Supply Chain and Logistics Management: the nature and significance of supply chain and logistics management; building global supply chain networks; key logistics functions in the supply chain; supply chain and inventory strategies.

April 17: Integrated Marketing Communications, Advertising and Promotion Strategy: the communications process and promotional elements; developing the promotional mix and promotional program; types of advertising; media strategy; sales promotion; public relations; increasing the value delivered by promotion.

April 24: Managing the Strategic Marketing Process: effective resource allocation through marketing strategy; segments, shares, scope and synergy in strategic planning; implementation of marketing strategy; marketing organization and control.