Transcript Course Introduction

WELCOME TO
MARKETING
FUNDAMENTALS
(BUAD 307)!
BUAD 307
COURSE INTRODUCTION
Lars Perner, Ph.D., Instructor
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BUAD 307
MARKETING FUNDAMENTALS
Instructor:
Office:
Office Phone:
Cell:
E-mail:
Web:
BUAD 307
Lars Perner, Ph.D.
Assistant Professor of Clinical Marketing
Hoffman Hall (HOH) 603
(213) 740-7127
(213) 304-1726
[email protected]
http://www.LarsPerner.com
http://www.BUAD307.com
http://www.ConsumerPsychologist.com
Blackboard: http://blackboard.usc.edu
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Why does
Tony the
Tiger wear a
scarf?
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About the Instructor: Lars Perner
• Ph.D., Marshall School of Business,
University of Southern California, 1998
• Returned to Marshall in 2006 after
teaching at the University of Maryland,
George Washington University, U.C.
Riverside, San Diego State University
• Courses taught:
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BUAD 307
Marketing Fundamentals
Consumer Behavior
International Marketing
Marketing Strategy
Intro to International Business
Channels/Distribution
Agricultural Marketing
Internet Marketing
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About the Instructor: Lars Perner
• Research interests:
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Consumer Behavior
International Marketing
Consumer Price Response
Consumer Bargain Hunting
Branding
Corporate Philanthropy
Non-Profit Marketing
“Win-win” Deals
Autism Spectrum Disorders and Subtypes
• Country of birth: Denmark
• Selected outside involvement
– Marketing Educators’ Association
– Autism Society of America
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Course Web Site
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Textbooks
Dhruv Grewal and Michael Levy (2016), M:
Marketing 5th ed., McGraw-Hill Irwin, ISBN 9781259446290.
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Jonah Berger (2016), Contagious: Why Things
Catch On, Simon & Schuster, ISBN-13: 9781451686586.
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Grading
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Grading Issues
• Course grades are assigned based on the total number
of points accumulated. LETTER GRADES WILL NOT BE
ASSIGNED TO PROJECTS OR EXAMS ALONE (see
syllabus).
• Marshall competition is very intense.
• Not everyone can be “above average.” Some will be
below.
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More Grading Issues
• Extra credit cannot be assigned.
• Grading is based on performance, not real or perceived effort
put in. It is NOT assumed that you start out as “perfect” and
have “points taken off” for deficiencies. A perfect score takes a
nearly superhuman person!
• Final grades can generally only be changed to correct mistakes
in arithmetic, Scantron misreads, or data entry that have been
made. Work quality or cut-offs cannot be re-evaluated under
the USC grade change policy.
• For more information on grading, please see Appendix A of the
course syllabus.
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Class Meetings and Office
Hours
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The Near Future…
• This week
• Next week
– Lecture
– No lecture or discussion
(Martin Luther King, Jr. Day)
• Intro to the course
• Some marketing
phenomena
• Week 3
– Discussion
• Project info
• Video case: Obsessing
over quality at BMW
• Strategic retail
reconnaissance mission
(trench coats optional)
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– Lecture
• Customer value
– Discussion
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• Share results of strategic
reconnaissance mission
• Customer value
• Course logistics as needed
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Course Objectives
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Apply fundamental marketing terms, concepts, principles, and theories and
their effective applications to real-world situations in a global market.
Describe how the marketing function is organized and fits into an organization,
including the relationships between marketing issues and those of other
business disciplines.
Make effective marketing decisions in real world settings using critical thinking
skills.
Effectively communicate marketing analysis
Effectively collaborate to analyze marketing options
Identify and make judgments about questionable marketing practices by
applying an ethical decision framework.
Identify and evaluate the advantages, disadvantages, opportunities, and
tradeoffs involved in different marketing strategies and choices
Address the dual roles of formal analysis and creativity in designing and
implementing effective marketing programs
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In this class, you will need to
work with…
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Course ideas
Research
Insights from other courses
Insights from your life experience
Intuition
Critical thinking
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FEEDBACK FROM
EMPLOYERS EMPHASIZES
CRITICAL THINKING
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THE REAL WORLD
IS A COMPLEX
PLACE!
Context and dynamics
are important!
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THE IMPORTANCE OF
“TINKERING” AND
PLAYING AROUND
WITH IDEAS
“PERCOLATION” OF
IDEAS IN THE
BACKGROUND
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The Socratic Method
• Used in law schools
• Learning by induction—developing
general ideas by examining specific
cases
• Development of analytical skills
• Research shows that learning tends
to be enhanced when information
is acquired through thinking about
and answering questions
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Course Philosophy
• Application to needs of real
firms rather than
memorization
• Focus on general ideas rather
than on facts that quickly
becomes obsolete
• Broad overview of marketing
• Assignments require individual
initiative and thinking
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Pointers on Doing Well in This
Class
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PROJECT
PRODUCT OR SERVICE
OR
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TARGET MARKET FOR AN
EXISTING TYPE OF
PRODUCT
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NEW
OR
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CHANNEL FOR
DISTRIBUTING AN
EXISTING PRODUCT
OR
PRODUCT OR SERVICE
“TRANSPLANTED” FROM
ONE COUNTRY TO
ANOTHER
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Course Project
• Please choose:
– A new product or service not currently in existence;
– An existing product or service that has potential to be
targeted to a segment or type of consumers that currently
does not use the product at potential
– An existing product or service that could achieve significant
additional sales if distributed through a new channel; or
– An existing product that is sold in one or more countries and
can be introduced in another specific country where it is
currently not widely used.
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Project Structure
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Proposal
Office visit to discuss the proposal
Secondary Market Research
Applications Paper
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Examples: A New Product or Service
• Auto GPS system that offers the “least stressful” route as
one of options
• Car with built-in mini-safe
• Bathroom water collector for garden re-use
• Secular values training and leadership programs for
children of busy parents not involved in organized religion
• Feature added to a firm’s existing app
This does not have to be an entirely new product category.
Adding a new feature or making alterations to a product
category qualifies if this is likely to be of value to some
customers. Even new specific shade of lipstick qualifies.
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Examples: Existing Product For New
Target Market
• Video games marketed to senior
citizens (who want to preserve mental
agility and/or play with their
grandchildren)
• Noise cancelling headphones for
children vulnerable to distraction
• Attracting a new type of student (e.g.,
“geeks”) to a fraternity or sorority
• Attracting under-represented groups
(e.g., Filipino Americans) to USC
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Examples: Existing Product With Potential
Through New Distribution Channel
• Fresh bagels delivered to customers’ homes on
week-ends
• Produce trucks to “food desserts”
• Financial planning programs sold through
churches, synagogues, or mosques
• Airport manicure tables
• Inkjet printer cartridges sold through Greek
houses
• Groceries being delivered to car pool or van
pool departure sites
• New merchandise sections in college
bookstores that no longer need as much space
for textbooks
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Examples: Existing Product for a New
Country
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Fortune cookies (which are actually not used in Mainland China)
U.S. fast food chains abroad
Foreign fast food chains in the U.S.
Brazilian Natura cosmetics introduced to the U.S.
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Strategic Reconnaissance
Mission
• One can only understand
certain issues in marketing by
visualizing the customer in
his or her natural habitat
• Brief strategic
reconnaissance mission
during first week’s discussion
• Regrouping and
presentations during the third
week’s discussion
• Details in handout
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Trench coats optional!
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