NYU Stern School of Business

Undergraduate College

MKTG-UB.0001.006 (C55.0001): INTRO TO MARKETING

Fall 2012

Instructor Details

Hershfield, Hal

hhershfi@stern.nyu.edu

212 998-0511

By appointment

906

 

Course Meetings

TR, 8:00am to 9:15am

Tisch T-UC21


Final Exam:

Schedule exceptions
    Class will not meet on:
    Class will meet on:

 

Course Description and Learning Goals

People often define "marketing" as advertising – a highly visible activity by which organizations try to persuade consumers to buy products and services. However, marketing is much more than advertising and even the most skillful marketing cannot make consumers buy things that they don't want.

 

Marketing involves two basic sets of activities. The first set starts with identifying consumer needs and ends with positioning the product or service to satisfy those needs and differentiate it from competition. In between, rigorous analysis of the competition, the customer, the environment, and the company’s own capabilities are required. The second set of activities revolves around the “marketing mix” – letting the consumer know about the product in an attention-getting, convincing, and motivating way, getting it to the consumer through the best combination of distribution channels, pricing it effectively, and offering incentives to try, purchase, and purchase more. At any point along the way, failure to get one of these activities right may result in the failure of the product. Positioning is the key to product success, but even a perfect product with brilliant positioning won’t last long if its benefits are not clearly communicated to the right people, if its price is too high or too low, if it is sold through the wrong retailers, or displayed poorly. 

 

In this course, you will be introduced to the principles underlying these activities and given opportunities to try your hand at analyzing markets and formulating strategy. The objectives of this course are to:

1.     Introduce you to the concepts, analyses, and activities that comprise marketing management,

2.     Help you sharpen your analytical skills and show you how to use them to assess and solve marketing problems,

3.     Give you an opportunity to refine your oral and written communication skills, and

4.     Provide a foundation for courses in other departments and advanced electives in Marketing.

People often define "marketing" as advertising – a highly visible activity by which organizations try to persuade consumers to buy products and services. However, marketing is much more than advertising and even the most skillful marketing cannot make consumers buy things that they don't want.

 

Marketing involves two basic sets of activities. The first set starts with identifying consumer needs and ends with positioning the product or service to satisfy those needs and differentiate it from competition. In between, rigorous analysis of the competition, the customer, the environment, and the company’s own capabilities are required. The second set of activities revolves around the “marketing mix” – letting the consumer know about the product in an attention-getting, convincing, and motivating way, getting it to the consumer through the best combination of distribution channels, pricing it effectively, and offering incentives to try, purchase, and purchase more. At any point along the way, failure to get one of these activities right may result in the failure of the product. Positioning is the key to product success, but even a perfect product with brilliant positioning won’t last long if its benefits are not clearly communicated to the right people, if its price is too high or too low, if it is sold through the wrong retailers, or displayed poorly. 

 

In this course, you will be introduced to the principles underlying these activities and given opportunities to try your hand at analyzing markets and formulating strategy. The objectives of this course are to:

1.     Introduce you to the concepts, analyses, and activities that comprise marketing management,

2.     Help you sharpen your analytical skills and show you how to use them to assess and solve marketing problems,

3.     Give you an opportunity to refine your oral and written communication skills, and

4.     Provide a foundation for courses in other departments and advanced electives in Marketing.

 

Course Outline

Session

Date

Topic

Readings, Assignments & Details

1

T, 9/4

·       Course Introduction & Overview

Chapter 1

2

TH, 9/6

·       The Marketing Environment

·       Competitive Forces

·       Marketing Math

Chapters 2, 3

Note on low-tech Marketing Math

Due: Information Forms

3

T, 9/11

·       Marketing Customers and Value

Due: Marketing Math

4

TH, 9/13

·       Marketing Ethics

Chapter 4          

5

T, 9/18

·       Consumer Behavior

Chapter 5                                  

6

TH, 9/20

·       Consumer Behavior

Chapter 6

7

T, 9/25

·       Case discussion: Mediquip

Case: Mediquip

8

TH, 9/27

·       No class in lieu of Guest Speaker 1

 

9

T, 10/2

·       Segmentation, Targeting, Positioning

Chapter 9

10

TH, 10/4

·       Segmentation, Targeting, Positioning

Chapter 9

11

T, 10/9

·       Quiz 1

 

12

TH, 10/11

·       Conducting marketing research

Chapter 8

13

T, 10/16

·       No class – Fall Break

 

14

TH, 10/18

·       No class in lieu of Guest Speaker #2

 

15

T, 10/23

·       Conducting and Using Market Research

Chapter 8

16

TH, 10/25

·       New Product Decisions

Chapters 10 and 11

17

T, 10/30

·       Existing Product Decisions

Chapters 10 and 11

18

TH, 11/1

·       Pricing

Chapters 13 and 14

19

T, 11/6

·       Pricing

Chapters 13 and 14

20

TH, 11/8

·       Written Case Assignment #1 (group case)

Case: Aqualisa

21

T, 11/13

·       Quiz 2

 

22

TH, 11/15

·       Distribution Decisions and Retailing

Chapters 15 and 17

23

T, 11/20

·       No class in lieu of Guest Speaker #3

 

24

TH, 11/22

·       No class – Thanksgiving

 

25

T, 11/27

·       Case discussion: Z-Corp

Case: Z-Corp

26

TH, 11/29

·       Promotion Decisions

Chapter 18 and 19

27

T, 12/4

·       Promotion Decisions

Chapter 18 and 19

28

TH, 12/6

·       International Marketing

Chapter 7

28

T, 12/11

·       Written Case Assignment #2 due, to be done          

       individually

Case: POX

29

TH, 12/13

·       Course summary and review

 

31

W, 9/19

·       Guest Speaker #1: Natalie Schwartz

Paulson Auditorium @ 12:40pm

32

TBD

·       Guest Speaker #2: Kyle Hugall

Paulson Auditorium  @ 12:40pm

33

M, 11/5

·       Guest Speaker #3: Brent Hodgins

Paulson Auditorium  @ 12:40pm

 

W, 12/19,

·       FINAL EXAM, 10AM-11:50AM

 

 

Required Course Materials

Required Text:      R. Kerin, S. Hartley & W. Rudelius, Marketing, 11th edition, Irwin/McGraw-Hill. Make sure you get the 11th edition.

(NOTE: The NYU bookstore is selling the regular hardback version of the textbook. McGraw-Hill also sells a loose-leaf version and an ebook version for lower prices. The ebook version allows you to search the entire book, print out pages you need, and highlight, make notes, and share them with your classmates  To access the eBook online you can go to www.CourseSmart.com  To download the ebook go to http://textbooks.vitalsource.com.)

 

Other Readings:   In addition to the text, there is a casepack, available from the NYU bookstore, that is described later in the syllabus. In some classes we will discuss examples from articles that have appeared in the popular and business press, such as the Wall Street Journal, New York Times, etc. These help create an interesting class discussion and show how marketing concepts affect current events. Whenever possible, we will look at an image of these articles in Powerpoint in class. You can get any of the New York Times articles for free on the Times web site. You can also obtain articles for most publications from the NYU Virtual Business Library, at http://library.nyu.edu/vbl/. Just click “Journals/Newspapers/E-Books” on the left of the homepage. If you are taking Stern courses, you should take the time to learn how to use the VBL.

 

Assessment Components

The grade components and the associated weights are as follows:

                                   

A.  Exams                                                                                50%

            2 quizzes (12.5% each):                      25%

Final exam (cumulative):                     25%

B.  Class Participation/Contribution                                      15%

C.  Written Case Analyses                                                     25%

            Group case                                          12.5%

            Individual case                                    12.5%

D.  Quantitative Exercise                                                          5%

E.  Marketing Research Assignment/Subject Pool                   5%

                                                                                                100%

 

General:

 

Inform me in writing (e-mail is fine) of any legitimate quiz and exam conflicts at least two weeks in advance. (All quiz and exam dates have been set and appear in the course outline.) If I do not receive written notice at least two weeks before the quiz or exam, you will not be given the opportunity to take it at another time. 

        

If you miss a quiz or exam due to illness or injury, a make-up will not be scheduled for you unless I receive a letter from your doctor (on letterhead) indicating the date and time of the medical problem that prevented you from taking the test. You are responsible for contacting me concerning missing an exam as soon as possible, preferably before the exam. If you are unable to take a make-up exam before the next class session, your doctor’s letter must also indicate the date through which your medical incapacity extended. If you have a letter from your doctor, I may choose to give you a substitute test or I may assign greater weight to another test.

 


Quizzes (25%):

 

Two closed-book quizzes are noted on the syllabus. The quizzes will consist of both multiple choice and short answer questions on materials drawn from the textbook, course packet, lectures, cases, and guest speakers. Each quiz is worth 12.5% of your grade for the course.

 

Final Exam (25%):

 

The final exam will cover the entire course and will be held during the normal examination period. No make-up will be offered and you will not be permitted to take the exam early. Some questions may be based on the guest speaker presentations. The final exam is closed-book.

 

Code of Conduct:

 

Every student is obligated to report to the instructor any suspected violation of the honor code that he or she has observed. If you are concerned about revealing your identity, please drop a note in my mailbox.

 

 

**F. CLASS PARTICIPATION**

 

You will learn the most from this class if you and your classmates participate fully. You all have different experiences and insights, and a great deal of what you learn in class is from each other. Every session of the course will involve interaction and I expect each class member to be prepared at all times in every class. To reinforce this expectation, I may occasionally randomly select (i.e., cold call) a class member to comment on the topic of discussion, or open a case discussion, whether or not the student’s hand is raised. The skills you acquire from participating in class and with your group will serve you well in your future positions, whether you pursue marketing as a career or not. Please remember that class participation will not be judged merely by the “airtime,” but by the quality of the comments you contribute to group discussions and exercises.

 

Class discussion should encourage the free and open exchange of ideas. If you want to challenge what I, or another student, have said, do so. Constructive criticism is always welcome and is an important part of the Stern experience. Do not be upset if I challenge something you say - we learn most when we have to defend our positions. If you ever feel that my comments or the comments of any student are not constructive, please let me know.

 

Sometimes we will have to stop discussion and move on to the next topic before hearing from everyone - there is limited time in each session and we want to use it wisely. Please don't take it personally if there isn't time to call on you. Often we will try to hear first from class members who have not participated much before hearing from others who have spoken more often.

 

It is important for your classmates, and me, to know who you are. Please fill out the Personal Information Form at the end of this syllabus and hand it in at the second class, so I can learn more about you. Please also bring a name card with your first name in big block letters and use it in every class. I will try my hardest to learn all of your names quickly, and having the name cards displayed will definitely help me do this. Displaying the namecards helps your classmates, and me, know who you are. I will also ask you to keep fixed seats in the classroom.

 

If you are not in class, you can't learn the material in the course nor contribute to the benefit of your classmates. A portion of your class participation grades will also come from your class attendance. I realize that occasionally you may be absent. Whenever you know in advance that you will be absent, please let me know in advance. If you miss class, be sure to obtain copies of notes from a classmate to insure that you do not miss any important material.

 

G. CASE ANALYSES AND WRITTEN ASSIGNMENTS

 

We will use four cases in the course. These are a required part of the course, and are contained in the course case packet at the bookstore:

 

·  Mediquip

·  Aqualisa

·  Z-Corp

·  POX

 

You are expected to prepare carefully for all four cases and be ready to discuss them in class. You will also have written assignments for Aqualisa and POX. Aqualisa will be written in groups, and POX individually (see below for more details).

 

Cases describe interesting marketing problems encountered by real firms. We use them as good examples that illustrate and apply marketing concepts and skills in the course. Cases also give you an opportunity to make and justify marketing decisions. In cases we will focus on identifying the marketing problems, introducing marketing concepts and skills that can help solve these problems, and applying these concepts and skills to recommend a course of action for the firm. There is no "right" answer to a case, but usually some answers are better than others. The strength of your reasoning and analysis is as important as your recommendations.

 

This syllabus contains a set of study questions for Mediquip. Questions will be handed out for the Z-Corp cases. Please read them carefully before starting each case, as they will help you focus your effort on important case topics. In class we will discuss your answers to these study questions to help us better understand and organize the important issues in the case. Sometimes in the case discussion I will also introduce new frameworks and techniques that help address the marketing problems in the case. The study questions do not always cover every important case issue, however. 

 

While the case study questions are designed to help you focus on important case topics, you also should begin to establish your own, independent ability to analyze marketing situations. Analyzing cases is a good way to start developing this ability. A good case analysis should look at the following:

 

1.     What are the important problems confronting this firm? This includes anticipating problems before they occur so the firm can take steps to prevent them, as well as identifying existing problems.

2.     What information do you have that is useful for addressing these problems?

3.     What are the different solutions to these problems? What are the strengths and weaknesses of each solution?

4.     Which solution would you choose, and why is it better than the others?

5.     How would you implement this solution?

6.     If a firm faces several problems, what are the relationships between them and between the solutions you have chosen? This is especially important in marketing, where each part of marketing strategy, and each part of the marketing mix, affects the others. Remember, you need to choose an overall solution that keeps, or creates, a balanced and coordinated marketing mix.

 

The amount you learn from a case depends on how carefully you read and analyze it.You are expected to read each case thoroughly and come to class ready to contribute to case discussions. In many cases some of the material is, by design, not particularly relevant to the problem at hand, while the case omits other data you would like to have, and would try to obtain using market research, if you were the decision-maker. This makes the case analysis more difficult, but it does reflect the real world of business. Some of our discussion may revolve around what "missing information" we would like to have.

 

Written Case Analyses:

 

Aqualisa and POX give you two opportunities to apply what you are learning to complex problems taken from actual business situations. It will take several hours to read and study each case, and perhaps ten more hours to write your analysis for your team (for Aqualisa) or yourself (for POX). Come to class prepared to offer your opinions or be called on even if you don’t volunteer. Please note that you must also submit both assignments to TurnItIn, an online plagiarism detection software. TurnItIn is able to detect when parts of a written assignment are plagiarized from content available on the internet, or from an assignment turned in by another student at NYU or any other university. This requirement is to protect the class from anyone attempting to gain an unfair advantage through plagiarism. See more on TurnItIn later in the syllabus.

 

You will do the Aqualisa case in groups. Since in the real world you do not get to pick your team members, you will be randomly assigned to small teams. Teams will be announced via email. Your team is responsible for allocating responsibilities and making sure that everyone contributes in a timely manner. Please don’t ask TFs or me to become involved in settling any disagreements between team members. You must do this by yourselves.

 

Please note that after handing in Aqualisa case, you will be asked to evaluate the contribution that each group member has made to the project, including yourself. Stern students have repeatedly stated that they believe a key part of the group experience is being able to rate their group members on how well each contributed to a group project. Knowing that they will be rated by their group’s members helps motivate students to contribute, reduces “free-riding,” and, most importantly, creates a sense of fairness for the group. These ratings can affect an individual’s grade if they reliably show disparities in the contribution that each group member has made. It is fine if group members contribute in different ways, but the importance of their contribution to the overall group effort should be equal.

 

Please read carefully the section on “Guidelines for Group Projects” later in this syllabus. These guidelines are included to help your group function effectively, efficiently, and harmoniously.

 

Guidelines for Written Case Analysis Assignments:

 

·      The assignment is due at the beginning of class on the day indicated.

·      Late assignments will not be accepted.

·      In addition to the content, written assignments will be graded on writing quality. It is important in business writing to be clear, direct, and persuasive. Use headings to organize your thinking and help orient the reader. The overall impression is also very important. Spelling errors, sloppy formats, poor grammar, etc., give the impression of sloppy thinking, carelessness, and lack of regard for your ideas and the assignment. If you know writing is not your strength, get some help. Good options within NYU are the Writing Center (411 Lafayette, 3rd Floor, New York, NY 10003, 212 998-8866, email: writingcenter@nyu.edu) and the American Language Institute (48 Cooper Square, 2nd fl. 212 998-7040).

·      The focus of the memo is on a recommendation – not a restatement of the decision situation. Your recommendation should be based on solid quantitative and qualitative analysis. This means that you should support your recommendation by demonstrating why your chosen recommendation is the best alternative (e.g., lowest risk, least expensive, best strategic fit, etc.) and why it is good to discount other options. Do not feel that you must use one of the recommendations presented in the case. You can be creative as long as you are also realistic and tempered by your analysis.

·      The questions that the case write-ups (memo) should answer and guidelines on length and formatting will be posted on the Blackboard website at a later date.

 

Grading

At NYU Stern we seek to teach challenging courses that allow students to demonstrate their mastery of the subject matter.  In general, students in undergraduate core courses can expect a grading distribution where: 

Note that while the School uses these ranges as a guide, the actual distribution for this course and your own grade will depend upon how well you actually perform in this course.

 

Re-Grading

The process of assigning grades is intended to be one of unbiased evaluation. Students are encouraged to respect the integrity and authority of the professor’s grading system and are discouraged from pursuing arbitrary challenges to it.

If you believe an inadvertent error has been made in the grading of an individual assignment or in assessing an overall course grade, a request to have the grade re-evaluated may be submitted. You must submit such requests in writing to me within 7 days of receiving the grade, including a brief written statement of why you believe that an error in grading has been made.

 

Professional Responsibilities For This Course

Attendance

 
Participation

In-class contribution is a significant part of your grade and an important part of our shared learning experience. Your active participation helps me to evaluate your overall performance.
You can excel in this area if you come to class on time and contribute to the course by:

 

Assignments

 

Classroom Norms

 

Stern Policies

General Behavior
The School expects that students will conduct themselves with respect and professionalism toward faculty, students, and others present in class and will follow the rules laid down by the instructor for classroom behavior.  Students who fail to do so may be asked to leave the classroom. 

 

Collaboration on Graded Assignments
Students may not work together on graded assignment unless the instructor gives express permission. 

 

Course Evaluations
Course evaluations are important to us and to students who come after you.  Please complete them thoughtfully.

 

Academic Integrity

Integrity is critical to the learning process and to all that we do here at NYU Stern. As members of our community, all students agree to abide by the NYU Stern Student Code of Conduct, which includes a commitment to:

The entire Stern Student Code of Conduct applies to all students enrolled in Stern courses and can be found here:

Undergraduate College: http://www.stern.nyu.edu/uc/codeofconduct
Graduate Programs: http://w4.stern.nyu.edu/studentactivities/involved.cfm?doc_id=102505

To help ensure the integrity of our learning community, prose assignments you submit to Blackboard will be submitted to Turnitin.  Turnitin will compare your submission to a database of prior submissions to Turnitin, current and archived Web pages, periodicals, journals, and publications.  Additionally, your document will become part of the Turnitin database.

 

Recording of Classes

Your class may be recorded for educational purposes

 

Students with Disabilities

If you have a qualified disability and will require academic accommodation of any kind during this course, you must notify me at the beginning of the course and provide a letter from the Moses Center for Students with Disabilities (CSD, 998-4980, www.nyu.edu/csd) verifying your registration and outlining the accommodations they recommend.  If you will need to take an exam at the CSD, you must submit a completed Exam Accommodations Form to them at least one week prior to the scheduled exam time to be guaranteed accommodation.

 

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