MKTG-UB : INTRODUCTION TO MARKETING Assoc. Prof. Ambar Machfoedy Summer 2014

Transcription

1 MKTG-UB : INTRODUCTION TO MARKETING Assoc. Prof. Ambar Machfoedy Summer 2014 Welcome to Introduction to Marketing. I look forward to meeting you at our first class on May 28, 2014 and getting to know you during the Summer session. Here is the preliminary course syllabus. Almost all of the details you need on the course are here. If you have the time, you may want to read it before class starts. It contains helpful information on the course objectives, what you will learn in the course, your responsibilities, how the course is conducted, and the course assignment. You might also want to complete the Personal Information Form at the end of the syllabus, which helps me get to know you. The text for the course is: R. Kerin, S. Hartley & W. Rudelius, Marketing, 12th edition, Irwin/McGraw-Hill. The 12th edition is the latest edition. The NYU Bookstore is selling the regular hardback version of the textbook. McGraw-Hill also sells a loose-leaf version that you can put in your own binder, and an ebook version, which has a timed, 180-day subscription, 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. You can get information about the ebook at and at The case packet will be available at the Bookstore soon after class begins. Do me if you have any question on the course, and I look forward to meeting all of you! Regards, Assoc. Prof. Ambar Machfoedy amachfoe@stern.nyu.edu 1

2 MKTG-UB : INTRODUCTION TO MARKETING Associate Professor Ambar Machfoedy Summer 2014 CLASS HOURS: M/W 12:20 pm 3:30 pm CLASS ROOM: TBD OFFICE HOURS: Mondays and Wednesdays: am noon PHONE: TEACHING FELLOW: TF OFFICE HOURS: TBA TF office hours, which will be announced early in the semester, are held in the Ernst & Young Learning Center, Tisch LC27. For other times, please use to set up an appointment. You can also send queries to the TFs. The TFs will grade your assignments. The best way to contact the TF is via . COURSE WEB SITE: (don t use a www prefix) Please check the class NYU Classes website regularly for class announcements and instructions. You should always check the postingsbefore coming to class some postings may be crucial in ensuring that you are in step with the rest of the class. Please go to the website for a copy of all course handouts. This site contains many things you will find useful over the course of the semester. Please read this syllabus carefully. It is your guide to the course and will help you learn more and do your best. It describes the course's objectives, how it is conducted, your responsibilities, and a synopsis of each session. There are also study questions for each case that is not part of an assignment. A copy of this syllabus appears on the course web site. All handouts and assignments will be posted on the site as they become available. 1. COURSE OBJECTIVES, DESCRIPTION & SCHEDULE Marketing is about building profitable customer relationships. The aim is to create value for customers, and to capture value in return. Effective marketing strategy satisfies customer needs and creates customer value while allowing the firm to achieve its objectives. This course has been designed to introduce you to the core concepts of marketing. It provides a comprehensive introduction to the key issues involved in the development of a balanced and integrated approach to the marketing of products and services. Businesspeople in all areas need a solid understanding of marketing strategy to succeed. The knowledge and skills that you will gain in this course will be relevant and applicable in your future (and even present) work and social life whether you are an employee, employer or a consumer. 2

3 Upon completion of this course, you will be able to understand the underlying principles of the marketing discipline, the goals of the marketing system, and how marketing is used by different types of organizations. Essentially, you will be in a good position to make meaningful contributions in the development of marketing strategies for organizations that you may be involved with for profit and not-for-profit. The course uses a combination of lectures, class discussion, case studies, assignments, and exams. The remainder of this syllabus describes the course and your responsibilities in it. COURSE SCHEDULE Session Date Topic Readings, Assignments & Details 1 W, 5/28 Course Introduction & Overview Chapters 1 & 3 Marketing, Customers & the Concept of Value The Marketing Environment 2 M, 6/2 Marketing & Corporate Strategies Chapter 2 Due: Personal Information Forms Case Study: Chobani: Making Greek yoghurt a household name pg 21 3 W, 6/4 Consumer Buyer Behavior Chapter 5 4 M, 6/9 Organizational Buyer Behavior Marketing Math Overview of Market Research Process Chapter 6 & 8 5 W, 6/11 Customer Segmentation Strategy Chapters 9 Case: Starbucks: Delivering Customer Service 6 M, 6/16 Positioning Strategy and Market Maps New Product Development 7 W, 6/18 Managing Products & Services Distribution Channels 8 M, 6/23 Distribution Channels Marketing Communications 9 W, 6/25 Marketing Communications The Pricing Decision 10 M, 6/30 The Pricing Decision Group Project Presentations Course Summary & Conclusion 11 W, 7/2 FINAL EXAMS Chapter 9, 10 Chapters 11-12, 15 Case: Z-Corp Chapters 15, 17, 18 Chapters 19, 13 and 14 Individual Case Assignment Due Case: Clocky Chapter Group Project Report Due 3

4 2. COURSE MATERIALS The text for the course is: R. Kerin, S. Hartley & W. Rudelius, Marketing, 12 th edition, Irwin/McGraw-Hill. The NYU Bookstore is selling the regular hardback version of the textbook. McGraw-Hill also sells a loose-leaf version that you can put in your own binder, and an ebook version, which has a timed, 180 day subscription, 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. You can get information about the ebook at and at In order to get the most from this course it is extremely important that you are prepared for class. I will only highlight the material covered in the text or readings, on the assumption that you can do the required background reading yourselves and you would prefer to have new information and experiences in class that supplement your basic theoretical readings. As such, if you have questions on the text or readings, it is your responsibility to let me know prior to class (via ), or at the beginning/end of class. I will not repeat much of what is covered in the assigned readings. So if you do not prepare for class adequately, you will learn substantially less from the discussions and exercises, and not only will you not be able to participate in class effectively, but it is also likely that you will not perform well on the exams and cases. Class meetings do not test you on the background material directly, but they are based on your understanding and retention of the text material. Therefore reading the background material is crucial. Press Articles: In some classes we will discuss examples from articles that have appeared in the popular and business press, such as the The New York Times, BusinessWeek, Fortune and Inc. These help create an interesting class discussion and show how marketing affects current events and in turn, are affected by them. Whenever possible, we will look at an image of these articles in class. You can get any of the NY Times articles for free on the Times web site. You can also obtain articles for most publications from the NYU Virtual Business Library, at Just click Journals/Newspapers/E-Books on the left side of the homepage. If you are taking Stern courses, you should take the time to learn how to use the VBL. 3. SUMMARY OF YOUR GRADE Your grade is earned through the following activities, which are discussed in detail in this syllabus: Class participation 15% 4

5 Individual Case Study Project (Clocky) 25% Group Marketing Project 30% Final exam 30% 4. CLASS PARTICIPATION - 15% of grade 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. You make no contribution with silence. A portion of your class participation grades will also come from your class attendance. Many sessions of the course will involve interaction and I expect each class member to be prepared at all time, in every class. To reinforce this expectation, I will occasionally randomly select (i.e., cold call) a class member to comment on the topic of discussion, whether or not the student s hand is raised. This is the kind of thing that might happen at a business meeting, or any meeting, where suddenly someone asks your opinion and expects you to be prepared. 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. Class participation means contributing to class discussion in a way that benefits your classmates and helps them learn. You don't have to speak frequently or in every class to earn the highest possible class participation grade. Some of you may be shy about speaking out, but you still need to participate. Class participation is not graded by any "curve" - it is possible and desirable for everyone in the class to earn a high grade for class participation. 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 write a name card with your first name in big block letters and use it in every class. This helps your classmates, and me, know who you are. If you are not in class, you can't learn the material in the course nor contribute to the benefit of your classmates. 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 at least two of your classmates to ensure that you do not miss any important 5

6 material. 5. CASES We will use case studies extensively in the course. These are a required part of the course, and are contained in the course case packet at the bookstore. The cases included in the packet are: Starbucks: Delivering Customer Service Clocky: The Runaway Alarm Clock Z-Corporation 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" or wrong 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. You are expected to prepare carefully for all case studies and be ready to discuss them in class. You will also have a Group Case Study written assignment: Individual Case Study Project Clocky: The Runaway Alarm Clock In the case discussions, I will introduce new frameworks and techniques that help address the marketing problems in the case. These frameworks are useful tools for analysis. The key is to understand how they are applied in the specific case, and to appreciate how such frameworks can also be used in other contexts. 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. At the same time, the case may omit other data you would like to have. This can be a pain, but it does reflect the real world of business. Some of our discussion may revolve around what "missing information" we would like to have. Analyzing a case: 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 6

7 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. INDIVIDUAL WRITTEN CASE ASSIGNMENTS (25%) The Clocky case provides you with an opportunity to apply what you are learning to more complex problems and contexts. It will take several hours to read and study the case, and perhaps ten more hours to help your team prepare and write-up an analysis. Come to class prepared to offer your opinions or be called on even if you don t volunteer. TURNITIN You will need to submit a bound (or stapled) hard copy, and an electronic copy to Turnitin on their website Turnitin is an Internet-based plagiarism-detection service which checks documents for plagiarism. Instructions for Turnitin are available on Blackboard. To create an ID, you will need the class ID and password. I will provide you with the ID and Password. Each group will only need one ID. 6. GROUP MARKETING PROJECT 30% of grade The group term project is an attempt to apply what you have learned in the earlier part of the course to a product or service. You are essentially going to analyze the environment that a company offering the product/service is operating in, and evaluate its strategy for marketing the product specifically the segments that are being targeted at, the positioning and the various components of the marketing mix. Include in your report, recommendations that you may have on how the company can improve its marketing of the product or service based on your understanding of the market and the other environmental factors. The deliverable for this assignment is a Presentation by your group members on the last day of class. The first part of the presentation should provide a brief background of the company and a description of the product/service and its major competition. The second part is descriptive. We would like you to describe the product s current marketing strategy (objectives, target segment(s), value proposition, marketing mix). The third part is diagnostic. We would like you to evaluate the product s current marketing strategy 7

8 and plan. The fourth part is prescriptive. Based on your evaluation, we would like you to make recommendations for how the marketing strategy and plan can be improved to lead to better performance in terms of sales/profitability. The presentation should be no more than 10 minutes long. This will be followed by a Q&A session involving the other members of the class. Your group will be graded on the quality of your presentation and also your responses to questions posed during the Q&A. A copy of any materials or slides used for the presentation has to be submitted to me and is due on the day of the presentation. 7. FINAL EXAM 30% of grade The final exam will cover the entire course. No make-up will be offered and you will not be permitted to take the exam early. This is a closed-book exam. Please be sure to bring a calculator. 8. TEACHING FELLOW The Teaching Fellow for the course has yet to be determined. He/She is an likely an MBA or a Final Year student at Stern who has done well in the Marketing course when he/she took it as part of his/her program requirement. The TF is here to help you and will be very happy to answer any questions. He/She will also help grade assignments. The TF will hold office hours twice a week in Ernst & Young Learning Center, Tisch LC27. Her contact information and office hours are listed at the beginning of the syllabus. 9. MY OFFICE HOUR My office hour is on Mondays and Wednesdays from am to 11:45 am at Suite 803 Tisch Hall. My door will be open for consultation during this time slot. For consultation outside of the Office Hour, please me to arrange for an appointment. 10. COURSE POLICIES PLEASE READ VERY CAREFULLY Students often ask about course policies in a number of areas, such as keeping current with the class, missed exams and quizzes, regrading, and the honor code. These are very important for you to know and observe. Please read the following very carefully. Please also be sure to read the Stern School policies that affect all Stern classes, at Grade policy 8

9 At NYU Stern, we strive to create courses that challenge students intellectually and that meet the Stern standards of academic excellence. To ensure fairness and clarity of grading, the Stern faculty have adopted a grading guideline for core courses with enrollments of more than 25 students in which approximately 35% of students will receive an A or A- grade. In core classes of less than 25 students, the instructor is at liberty to give whatever grades they think the students deserve, while maintaining rigorous academic standards. Please see for Teaching and Grading at the NYU Stern Undergraduate College for more information. Regrading Requests In line with Grading Guidelines for the NYU Stern Undergraduate College, the process of assigning of grades is intended be one of unbiased evaluation. This means that students are encouraged to respect the integrity and authority of the professor s grading system and discouraged from pursuing arbitrary challenges to it. If a student feels that an inadvertent error has been made in the grading of an individual assignment or in assessing an overall course grade, a request to have that the grade be reevaluated may be submitted. Students should submit such requests in writing to the professor within 7 days of receiving the grade, including a brief written statement of why he or she believes that an error in grading has been made. 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: Exercise integrity in all aspects of one's academic work including, but not limited to, the preparation and completion of exams, papers and all other course requirements by not engaging in any method or means that provides an unfair advantage. Clearly acknowledge the work and efforts of others when submitting written work as one s own. Ideas, data, direct quotations (which should be designated with quotation marks), paraphrasing, creative expression, or any other incorporation of the work of others should be fully referenced. Refrain from behaving in ways that knowingly support, assist, or in any way attempt to enable another person to engage in any violation of the Code of Conduct. Our support also includes reporting any observed violations of this Code of Conduct or other School and University policies that are deemed to adversely affect the NYU Stern community. 9

10 The entire Stern Student Code of Conduct applies to all students enrolled in Stern courses and can be found here: 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. GENERAL CONDUCT & BEHAVIOR Students are also expected to maintain and abide by the highest standards of professional conduct and behavior. Please familiarize yourself with Stern's Policy in Regard to In-Class Behavior & Expectations ( and the NYU Disruptive Behavior Policy ( 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, , 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. Policy on Keeping Current with the Class The TF and I will use two methods in class and to make announcements of such things as syllabus revisions, updates of the lecture slides, details on assignments, grade breakdowns, and any other important information about which you need to be aware. Not every announcement will be made both ways. It is your responsibility to check your and the course website at least once a day during the week (Monday through Friday) and you will be expected to be aware of any announcements within 24 hours of the time the message was sent. If for some reason you are not able to check your , find out from a classmate whether anything was sent that you need to know. It is also your responsibility to be aware of all announcements and handouts given in class. If you miss a class, get copies of materials from classmates. Do not ask the TF or me to review what happened in class. If you are having trouble with or the class web site, read the notes below before contacting me. Policy on Using Stern and the Course Web Site 10

11 Neither the TF nor I have the expertise of a computer consultant for answering questions about how to get access to Stern and the course site. Here are some helpful hints concerning use of and the course website. Many of you are undoubtedly conversant on this subject and will not need to read them. However, if you have trouble and are still having trouble after using the instructions below, check first with at least one consultant at one of the Stern computer labs, or call the Stern Computer Help Desk at Your address. Once you are registered for this course, the registrar will send your name to our computer folks and, if you don t have one already, a Stern address will be created for you. Your default password will be your social security number, so change it as soon as possible. To do this, simply visit the Simon web site ( log in with your Stern ID and password, and click on Change Password. If you do not have a Stern address or cannot access it, please get help at the Stern Computer Help Desk. If you would prefer to receive from me at an address other than your Stern address, have your Stern forwarded to your preferred address. To do this, simply visit the Simon web site ( log in with your Stern ID and password, and click on Options. Policy on Missed Assignments and Quizzes Inform me in writing ( is fine) of any legitimate quiz and assignment conflicts at least two weeks in advance. (All quiz and assignment 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 assignment, you will not be given the opportunity to take it at another time. If you miss a quiz or assignment 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 a quiz 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 dates of your medical incapacity. 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. GUIDELINES FOR GROUP PROJECTS The following guidelines were developed by Stern faculty, to help students working on group projects. If you follow them, these guidelines will help your group do the best it can, and save time and possible conflict. Business activities involve group effort. Consequently, learning how to work effectively in a group is a critical part of your business education. Every member is expected to carry an equal share of the group s workload. Your professor will 11

12 not supervise the process any more closely than a manager would in similar circumstances. In the infrequent case where you believe that a group member is not carrying out his or her fair share of work, you are urged not to allow or permit problems develop to a point where they become serious. Try to first address these problems among yourselves. It is recommended that your group establish your own problem-solving process for handling conflicts at the beginning of your work together. If you cannot resolve conflicts internally after your best efforts, they should be brought to the attention of your professor who will work with you to find a resolution. You will be asked to complete a peer evaluation form to evaluate the contribution of each of your group members (including your own contribution) at the conclusion of each project. If there is consensus that a group member did not contribute a fair share of work to the project, the professor will consider this feedback during grading. Guidelines for Effective Group Work Research on groups shows that outcomes do not depend on group members liking each other personally, but they do depend on effective group processes. Here are some guidelines: 1) Focus on achieving the best results rather than worrying about interpersonal relationships 2) Become aware of and respect differences among each other: a) Demographic (gender, race, ethnicity, national culture) b) Professional (values, skills, personalities) 3) Meet as soon as possible to a) Agree on your group s ground rules (provided on the next page Suggested Ground Rules ) b) Decide on the process of collaboration: when you will brainstorm ideas/approaches, collect data, analyze data, prepare the group project paper c) Assign tasks and identify specific deliverables for each meeting and each person d) Schedule subsequent meeting times e) Agree on how you will exchange work and by which dates f) Determine how your group mates will review the combined project and approve it Know the Content of the Project It is in your interest to be involved in all aspects of the project. Even if you divide the work rather than work on each piece together, you are still responsible for each part. The group project will be graded as a whole: its different components will not be graded separately. Your exams may contain questions that are based on aspects of your group projects. Assumed Rules for Group Participation To work well as a group, you need to decide on some ground rules that will facilitate your joint work. Below is a list of common rules related to group work that you should assume are in effect unless your group decides to change them. Discuss each rule and decide whether you want to adopt it as a group. Make sure each member commits to the rules you adopt. You can also add your own rules, such as, add each member of the group to an IM buddy list. 12

13 1) Each member will perform a fair share of the group s work. Free-riding is not acceptable. 2) Telephone numbers and addresses will be exchanged promptly. 3) All members should attend scheduled meetings unless it has been previously arranged that a member cannot make a specific meeting or there are unavoidable circumstances such as illness (hangovers don t normally qualify as a valid form of illness). 4) To encourage attendance at all meetings, arranging for a combination of face-to-face and online meetings can help alleviate the strain of scheduling issues. 5) All members should be prepared for all meetings (read the assignment in advance and develop some ideas on your own). 6) Meetings will commence no later than six minutes after the agreed start time and everyone should arrive by that time. 7) Roles such as chair of a meeting and note-taker should be clearly allocated and should rotate around the group so that responsibilities are shared. 8) Anyone can initiate and redirect discussion. 9) Decisions should be made democratically in the absence of a clear consensus there should be a vote. 10) Aggressive and dominating behavior is not acceptable. 11) Sexist and racist remarks are not acceptable. 12) Members should try to encourage contributions to discussions and decisions from everyone, and to assess the value of all contributions. 13) Members should practice active listening: listen to each other s ideas, summarize them, ask questions, and show respect for the other person s opinion before challenging it. 14) Tasks that individuals agree to undertake should be completed by the agreed deadline. If it looks as though there will be a problem meeting a deadline that member should seek help from other members of the group in time to avoid a delay. 15) If a group mate asks for help, everyone should try to assist him/her. 16) If a conflict is emerging, it should be discussed in a group meeting and attempts should be made to resolve it within the group; if this is unsuccessful, it should be brought to the attention of the professor. 17) Each person has the right to point out when these rules are being broken. 18) All group mates should have responsibility for implementing an effective group process. 19) All rules can be changed by consensus. 13

14 PERSONAL INFORMATION FORM: INTRO TO MARKETING Associate Professor Ambar Machfoedy, Summer 2014 Your Name and Section: Contact phone #: Major(s): Please staple or digitally paste your photo here (One that looks like you!) Preferred address (print clearly): Expected graduation date: 1) Please read the following statement and indicate your agreement by providing your signature below. (Before signing you should be sure to read the syllabus thoroughly). I have read the syllabus thoroughly. I understand and agree to the requirements associated with this course. Signature Date 2) List here any class you might miss for religious observance. 3) What are your 5 and 10-year career goals? (Use the back if you run out of space.) 4) What is your work experience? 5) Tell me something else about yourself that is important to you and/or makes you unique (your interests, hobbies, background, talents, collections, etc.) 6) What do you expect to get from this course? How does the course fit your career goals? 14