Principles of Marketing
A study of basic marketing theory and practice. Major topics include analysis of consumer market structure versus industrial market system; product planning; channels of distribution; pricing; promotion; and relevant government regulation.
- To explain the major marketing principles, terms, and definitions
- To integrate the various marketing components to demonstrate the complexity of competition
- To learn the impact of various marketing tools on buyer behavior
- To understand the end user, both consumer and organizational, motivations
- To understand the marketing strategy objectives impact on organizational marketing efforts
- To learn the importance of data gathering and analysis leading to developing a cohesive marketing strategy
- To learn the interdependencies and interrelationships between marketing and the various markets a company serves
- To learn the entire marketing process from product development through divestiture
The course will follow:
The required and recommended readings from these two texts are indicated below.
Further Literature Recommendations:
Barden, P.P., 2013. Decoded: the science behind why we buy. John Wiley & Sons.
Chapman, C. and Feit, E.M., 2019. R for marketing research and analytics, 2nd ed. New York, NY: Springer.
Goldsmith, E.B., 2016. Consumer economics: Issues and behaviors, 3rd ed. Routledge.
Graves, P., 2013. Consumerology: The Truth about Consumers and the Psychology of Shopping. Hachette UK.
Kamins, M., 2018. Marketing Manipulation: A Consumer’s Survival Manual (Vol. 14). World Scientific.
Martin, N., 2008. Habit: The 95% of behavior marketers ignore. Ft Press.
Miller, T.W., 2015. Marketing data science: modeling techniques in predictive analytics with R and Python. FT Press.
Murphy, P.E., Laczniak, G.R. and Harris, F., 2017. Ethics in marketing: International cases and perspectives, 2nd ed. Taylor & Francis.
Pink, D.H., 2013. To sell is human: The surprising truth about moving others. Penguin.
Shotton, R., 2018. The Choice Factory: 25 behavioural biases that influence what we buy. Harriman House Limited.
Smith, A., 2019. Consumer Behaviour and Analytics: Data Driven Decision Making. Routledge.
Students must read the assigned chapters of the textbook(s) before each session. Reading the economic and political press will also be helpful.
I recommend that you try to solve the chapter problems in preparation and review of each class session.
You can always contact me via email or twitter. For meetings appointments can be arranged through the my webpage at: https://economicscience.net/appointments/
Updated information, links to the literature, additional materials, etc. can be found on my webpage as well.
Solutions to problem sets must be submitted by the beginning of the respective class. Late submission will lead to a penalty on the grade for the problem sets.
A typical 3 credit course requires 150 hours of your time. The table below identifies how I expect those 150 hours will be allocated. While you do not receive direct marks for reading, reading will affect your class participation mark (your ability to participate in class discussions and activities) and your final exam mark.
|Class Time (3 hours / week)||45 hours|
|Reading (3 hours / week)||45 hours|
|Preparation, Problem Sets, and Review (4 hours / week)||60 hours|
Topics and Reading Assignments
Introduction (Ch. 1)
Global, Ethical, and Sustainable Marketing (Ch. 2)
Strategic Market Planning (Ch. 3)
Market Research (Ch. 4)
Marketing Analytics (Ch. 5)
Understand Consumer and Business Markets (Ch. 6)
Segmentation, Target Marketing, and Positioning (Ch. 7)
Innovation and New Product Development (Ch. 8)
Product Strategy, Branding, and Product Management (Ch. 9)
Price: What Is the Value Proposition Worth? (Ch. 10)
Deliver the Goods: Determine the Distribution Strategy (Ch. 11)
Deliver the Customer Experience (Ch. 12)
Session 13 Advertising and Sales Promotion (Ch. 13)
Session 14 Social Media Marketing, Direct/Database Marketing, Personal Selling, and Public Relations (Ch. 14)
Topics and reading assignments are subject to changes.
You will find the problems sets for download in a pCloud folder: here.
Upload you solutions to this pCloud folder [Click Here!] Please use PDF or plain text for your uploads.
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