MRKT 212 Marketing Course Guide

Course Description

Marketing is the science and art of creating and managing profitable customer relationships.† Marketers must also be good at managing relationships with partners inside and outside the company, working together to connect with customers.† Marketers study customer needs and wants, select target markets they can serve best, and design products, services, and programs to serve these markets.† Marketing is about attracting new customers by promising superior value, and to keep and grow current customer relationships by delivering superior satisfaction.† (Philip Kotler)†

This course will focus on identifying and understanding the factors that are involved in making analytical judgments regarding the selection of target markets.† Then the course will focus on identifying and understanding the factors and issues that must be addressed when formulating product, price, distribution, and communication strategies that will allow the firm to profitably satisfy target markets, better than the competition.†

Specific, Assessable Learning Objectives†

At the conclusion of this course, the student should be able to:†

  1. Understand and discuss the factors that impact a firmís marketing strategy, including environmental forces, customer buying behavior, cross-functional relationships within the firm, and ethical and social responsibilities relative to all stakeholders.
  2. Understand and discuss the concepts and processes of market segmentation, target market selection, and positioning within the context of a firmís resources and competitive capabilities.
  3. Understand and discuss the importance and complexity of attaining relevant information prior to making marketing strategy decisions.
  4. Understand and discuss the factors involved in making enlightened decision about appropriate product, price, distribution, and communication strategies.
  5. Understand and discuss the importance of translating marketing strategies into financial terms, using pertinent analytical tools such as breakeven analysis, forecasting, and proforma financial statements.
  6. Understand and apply the process of analyzing data in short cases, communicating recommendations and reasoning in written and oral form, utilizing the capabilities of computer software (when appropriate) for professional looking reports and presentations.
  7. Speak and listen effectively in a group decision-making context and utilize nonverbal techniques to attain a desired communication effect.

Course Outline†

  • Overview of marketing and the marketing process
  • External factors that impact marketing opportunities and strategies
  • Collecting and managing relevant information
  • Buying behavior of consumer and business customers
  • Segmentation, targeting and positioning
  • Development of product, price, distribution, and communication strategies
  • Marketing ethics and social responsibility

Recommended Teaching Methodology†

The primary method of teaching should be interactive lecture and class discussion.† Professorial presentations should clarify and amplify text material, providing students with the opportunity to engage in discussion regarding course topics.† Professors should guard against lecturing in the traditional sense, where text material is repeated in a different format.† Students must be actively engaged in the learning process.†

Secondary methods include the discussion of relevant articles and cases that provide examples and insight into the development of marketing strategy.† Articles and cases may be assigned for either oral or written presentation and discussion.† †

Professors may also choose to assign outside activities such as research reports related to specific marketing topics or the development of a marketing plan.†

Recommended Assessment Measures†

  1. The primary method for assessing the attainment of knowledge will be periodic and final exams.† Exams must be designed to assess the studentís level of understanding and ability to discuss material, from the text and class discussions, that is directly related to learning objectives one through five as stated above.† Exam questions should be grouped to allow for separate assessment of each learning objective.† All exams should contain a significant portion of essay or short answer questions.† Professors teaching this course should consult with colleagues to attain a comparable level of rigor across sections.
  2. Short case analysis assignments should be utilized to assess the attainment of learning objectives one through six.† Analyses and recommendations should be presented in both oral and written form.† Professors should separate the assessment of content from communication.† All written assignments must be submitted in appropriate business format.† Criteria for evaluating written reports must be clearly identified and explained by the professor, and consistently applied to all written work throughout the semester.† Students must receive detailed feedback on all written assignment, with feedback related to both content and communication effectiveness.
  3. Class participation should be utilized, along with case assignments, to assess learning objectives one through seven.† Consideration must be given to the quality of comments and questions, to nonverbal feedback, and to demonstrated listening skills.† Class participation should account for a significant portion of the overall grade.† Criteria for evaluating participation must be clearly identified and explained by the professor.
  4. Research project and marketing plan assignments may be utilized as optional methods to assess performance relative to both knowledge and skill objectives.

This is to be a communications intensive course.† As such, at least 20% of the final grade must be based on an evaluation of written, oral, listening, and nonverbal communication competence, with each component assessed separately.† Evaluation of communication skill must be separate and distinct from evaluation of other course content.

Statement of Expectations†

This is a survey course addressing the subject of marketing.† It is one of the core subjects in the business curriculum.† The material to be covered is important.† It is worth the studentís time to learn it and to know how to apply it.† It can impact careers and the competitiveness of organizations that look to our graduates for contributions.† It is not easy stuff --- marketing to consumers and organizations is inherently difficult, especially in a very competitive environment.† Most of the learning that will take place will not happen in the classroom.† Students should understand that most learning takes place when they are working on the material outside of class, when they are reading, thinking critically, analyzing, and applying concepts and techniques to business world examples.† The amount that students learn and the level of skill that is developed will be directly related to the amount of effort that is expended.† Classes are opportunities to discuss and apply the material, and to develop communication and leadership skills.† They are also opportunities for professors to provide insight, to help students attain understanding, and for the evaluation of performance.† Students should expect that the average weekly workload in this course would be three hours in class plus a minimum of six hours of studying and assignment preparation.†

Prerequisite Knowledge and Skills†

  • The most important prerequisites are an interest in the subject, the willingness to commit the necessary resources in terms of time and intellectual effort, and the willingness to actively participate in the learning process.
  • Students should have an understanding of the fundamental concepts and principles associated with micro and macroeconomics.
  • Students should have the ability to communicate effectively using oral, written and nonverbal techniques.

Institutional Mechanism for Providing Feedback for Continuous Quality Improvement

Individual professors teaching this course will evaluate each student based on course specific knowledge, capability, and communication skill.† Performance assessments will be summarized and reported to the Dean or a designate, with separate assessments for relevant performance categories.† Performance assessments from multiple sections and professors will be compiled into a single comparative report.† This report will be utilized for overall evaluation of the marketing course and for control purposes.† Any deficiencies in attaining learning outcomes will be addressed and appropriate changes designed to improve the probability of attaining these objectives.