BUAD 307 Syllabus PDF

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BUAD 307 Syllabus...

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Fall 2020 Syllabus - BUAD 307 – Marketing Fundamentals Professor: Office:

Rex Kovacevich Hoffman Hall – HOH 622

Office Hours: Held online via Zoom, Tues and Wed from 1:00 – 2:00, or by appointment https://uscmarshall.zoom.us/my/rexkovacevich Meeting ID: 8641291125 (password posted under Blackboard “Announcements”) E-mail: [email protected]

Class Days and Times This class is entirely online. A “lecture” class is reserved on your schedule for Wednesdays 12:00 – 1:50. This time is used for the mid-term, and to reserve the final exam time. Otherwise, the lecture material will consist of asynchronous (recorded) lecture segments, readings, and exercises posted under “assignments.” Students gain flexibility about when to complete the material each week, but should do so prior to their assigned discussion time, which is live and online. Your assigned discussion time is one of the following: Thursday 2:00 – 3:50 (section 14816) Thursday 4:00 – 5:50 (section 14818)

Friday 10:00 – 11:50 (section 14814) Friday 12:00 – 1:50 (section 14820) Friday 2:00 – 3:50 (section 14822)

Course Description Among business disciplines, marketing is the primary contact point between a firm and its customers. This class will help you learn how organizations create value by evaluating market opportunities, understanding buyers’ needs, attracting purchasers, and building customer relationships. Business majors and non-business majors will benefit by taking this course because everybody uses some form of marketing during their career. Marketing is a relatively straightforward process - - assess the market, establish a plan, implement the tactics, and evaluate the results - - but loaded with challenging elements such as competitive actions, buyer behavior, company capabilities, and other environmental influences – most over which managers have little direct control. We will explore all of these topics in our class.

Course Format This course is taught in a flipped format. All course materials are found in Blackboard (https://blackboard.usc.edu). It is expected that students will have completed all required activities and assignments before attending their class session each week. Students should ensure that they can access all of the online tools via Blackboard prior to the start of classes. Please also make sure you installed the Zoom client on your computer and that you are logged into your USC account (not your school’s Zoom account). In Blackboard you will see the course listed twice. Section 14812 will be the main class site and contain all course material, including the pre-recorded lecture modules in the "Recorded Modules w/Slides" folders. You'll also see a discussion section listed, which will only be used to provide Zoom access and the follow-up recordings. At the scheduled time, access the live class by going to the discussion section in Blackboard, clicking on the “USC Zoom Pro Meeting” link (left column), and then joining the session. Zoom is the platform used for all online sessions and online office hours. A link and instructions to join the Zoom sessions will be posted in the Blackboard Course Pages. For more information about Zoom, go to: Zoom Support Tutorials

BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

Learning Objectives Marketing knowledge is a fundamental business discipline and required by the modern business enterprise. To develop your ability to contribute to general marketing management decision-making, the learning objectives for this course are the following:

1. Apply fundamental marketing terms, concepts, principles, and theories and their effective applications to real-world situations in a global market. 2. Make effective marketing decisions in real world settings using critical thinking skills. 3. Apply and calculate fundamental marketing metrics in order to assess opportunities and/or performance (see appendix A). 4. Effectively collaborate to analyze marketing options and develop a marketing plan. 5. Identify and make judgments about ethically questionable marketing practices by applying an ethical decision framework. Required Materials Book: Dhruv Grewal and Michael Levy (2021), M: Marketing, 7th ed. McGraw-Hill Irwin, ISBN 9781260260359. or… …the same book (2019), M: Marketing, 6th Edition, ISBN-13: 9781260587159 If a 6th edition is a much better deal, it is 95% similar, and will work fine for our purposes Simulation: Harvard Business Publishing. Instructions and links to be provided later. Estimated cost is $15.

Course Notes: Copies of lecture slides and other class information are available through your Blackboard account.

Grading: Assignments TESTS

Points Mid-Term Final Exam

% of Grade

77 100 100

29% 29%

MARKET RESEARCH PARTICIPATION

12

12

3%

MARKETING SIMULATION

18

20

6%

28

9%

CLASS PARTICIPATION MARKETING PLAN GROUP PROJECT TOTAL

86 100

29%

340

100%

Final grades represent how you perform in the class relative to other students. Your grade will not be based on a mandated target, but on your performance. Last fall the average grade for this class was about a B. The following are considered when assigning final grades: BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

1. Your average weighted score as a percentage of the available points for all assignments (the points you receive divided by the number of points possible). 2. The overall average percentage score of the class. 3. Your ranking among all students in the class.

ASSIGNMENT DETAILS

Attendance 

Attendance will also be taken intermittently. Attendance doesn’t figure directly into your grade, but alert me about your commitment to the class, and helps with participation tracking.

2 Exams (200 points) 

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  

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Both exams are worth 100 points and consist of 35 questions (approximately 30 multiple-choice questions and 5 T/F questions) worth 2 points each and totaling 80 points, and 3 or 4 essay questions totaling 30 points. The final exam is also worth 100 points and consist of 50 questions (approximately 45 multiple-choice questions 5 T/F questions) worth 2 points each. No essay questions. The final exam is not cumulative and will test material covered after the first exam. A list of eligible topics for each exam will be provided about 3 weeks before the test date. The exams are open-book, open-note. Make-up test times must be approved and scheduled at least 48 hours before the exam. If a last minute emergency precludes you from taking the test, proper documentation must be provided. Make-up tests that are not pre-arranged will be penalized 10%. Students will be required to provide documentation to support make-up requests. Any challenges to grading must be raised within one week following the return of exam results.

Participation (28 points) Discussion promotes a better understanding of the material, taps into the collective knowledge of the class, and sharpens communication skills. Participating during every class in unlikely, but if you come prepared and willing to engage with the material, you will have plenty of opportunities. When evaluating participation, here are some general guidelines I use: Excellent contribution  Clarifies points that others may not understand with relevant and succinct comments.  Builds on facts already stated in reading or made by others.  Accurately exhibits knowledge of class content.  Takes appropriate risks in attempting to answer difficult questions. Good contribution (most comments fall into this category)  Demonstrates preparation.  Ideas are fairly well substantiated and somewhat persuasive. BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

 

Makes accurate use of course material. Relevant and succinct input relating to topic being discussed.

Average Contribution  Participates in class exercises, but doesn’t participate in full class discussions  Makes accurate use of course material or provides relevant input relating to topic being discussed, but not both. Below average or negative contribution  Purpose of comment is unclear or very similar to what has already been stated.  Disruptive behavior.  Drains energy from the discussion/from the class.

Market Research Exercise (12 points)    

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All students will be asked to participate in 12 brief online studies, each requiring about 10 minutes. I’ll share a separate document with instructions on how to register for these studies. Once you’re registered, available times and dates will be communicated via e-mail. I’ll also discuss the sign-up procedures in class. A “no-show” occurs when a student cancels less than 24 hours before the study or simply does not attend. Students not honoring their reservation will not be penalized for the first absence, but will be penalized a point for any additional “no show.” Should you object to participating in research studies, let me know by September 30, and I will provide you with topics for which you can write two papers (2 - 3 pages each) in lieu of participating in the studies. Each paper is graded and is worth up to 5 points. Please note that this option is not designed as a make-up assignment.

Marketing Simulations (20 points) To practice using marketing concepts covered in class we will use a marketing simulation. We will begin with a few practice runs (12 periods each) to help you become acquainted with the company you will manage. You will then complete a run that will count toward your ranking, followed by up to 5 runs to determine the next best score that will also count toward your final ranking. Schedule will be the following: October 8/9 October 8/9 – 15/16 October 15/16 – 21/22 October 22/23

Simulation introduction Practice runs First “real” run of 13 quarters, and best of any subsequent runs Simulation debriefing in class

To encourage a little emotional investment in the simulation, there will be a grade assigned to the play of the simulation (discussion of the results will count toward participation). Grade are based on a ranking of an average of your first round “score” and best subsequent round “score.” The simulation is based on a 100 point scale that I will share in class

BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

The process for scoring will be covered during the class introducing the simulation. Grades will then be assigned by discussion section based on each student’s class rank approximately as follows: Top 1 2-5 6 - 16 17 - 30 31 - 40 41 - 47 late completion

20 points 19 points 18 points 17 points 16 points 15 points 13 points

Simulation debrief discussion questions: 1. Who are MM’s target customers? Are all segments equally attractive to MM? Why or why not? 2. How do you weigh hard performance metrics such as revenue and profits with metrics such as customer satisfaction? 3. How do you expect the competition to respond to changes made in MM’s marketing and sales efforts? Why? 4. How should one manage MM’s pricing? What does it take to justify price increases? How does price discounting affect results? 5. How do you balance short-term and long-term spending decisions?

Group Marketing Project (100 points) Assignment: Identify a market opportunity that aligns with the capabilities of an existing company of your choice (best to select a company for which you can find information about its operations). The market opportunity typically exists because there aren’t existing products/services serving the need, or serving the need well enough. Develop a product or service concept to address the opportunity. The product/service will take the form of a line or category extension based on an existing brand – for example the Tide Pen for spot stain removal, or the Duracall Powermat (a wireless recharger). Create and explain the marketing plan for that product. Projects will be done in 5-6 person teams. The assignment will be completed with a 3 page market analysis paper and 15 minute class presentation (plus 3 minutes for questions), including a hard copy with full notes. Consider your fictional audience to be an investor group or a senior management group. You are trying to sell your strategy as a smart business move.

Ground Rules:  Product must be realistic.  Target market must have a minimum of 10 potential customers.  Tone of the online presentation should be as if you are presenting to a group that can approve and fund your idea (i.e. senior managers, investors, venture capitalists, etc.).  Time limit is 15 minutes. After 16 minutes, 2 point deduction for each additional 30-second span the group is over. There isn’t a minimum tome limit requirement.

Deliverables Pre Submit a brief description (usually a few sentences) of your product idea during your discussion session on October 22-23. Failure to do so will result in a 5 point penalty. BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

Part 1 Part 2

Market analysis paper…due one week before first presentations scheduled for your discussion section. Additional details follow. Hard copy of presentation slides with full notes, is due the day of the first presentations for your discussion section. Additional details follow.

Part 1 – The paper – “Analyzing the Market Opportunity” (20 points) - - up to 3 pages (not including list of sources used) - - single-spaced - - 12 point font - - OK to use bullet points. Strongest papers will effectively use outside sources, possibly primary research, to find supporting information. Major Headings:

Key questions to address:

Product Idea

In 2 to 4 lines, what is your product or service idea? How does the idea address a “job to be done.”

Company

What does your company do well that indicates it has the required capabilities to pursue this opportunity?

Customers

What are your targeted customers’ characteristics? What market need(s) are you addressing? How do these customers make buying decisions? How many potential customers exist?

Competition

Who do you see as your competition and why? How is the competitive landscape changing (or has changed)?

Context

What else is happening (or has happened) in the marketing environment to lead to this opportunity?

Part 2 – The presentation – “Developing the Market Opportunity” (80 points) - - full “notes” version of presentation slides – the notes aren’t a script, but the main points you’re establishing with each slide.

Basic Presentation Components (15 minutes not including follow-up questions and answers):  Introduction – Set the stage for your proposal by providing highlights from your paper that explain why this opportunity exists and the significant factors considered when putting together the marketing plan recommendations. What market need is the team addressing?  Product - Describe your product or service. What are its traits and attributes? What benefits will your product provide to the target audience, and why should the customer care? How should it be positioned?  Distribution - How do you plan to distribute your product? Why is your distribution plan appropriate for the target market?  Price - What are your pricing objectives? Relative to other choices your target audience has, why will your targeted group see value in the price you have set? What is the recommended price?  Marketing Communications - Describe and support your promotion plans. Describe your promotion strategy and show executions of the strategy. Describe how your strategy fits with the target market, and how the strategy enhances your desired positioning.  Questions (3 additional minutes) BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

Peer Evaluation: Following the completion of your presentation, group members will be asked to assess each of their team member’s contributions. This assessment will be used to determine what percentage of the group’s score each person will receive. To accomplish this, I will give each member criteria to assess using a 5 point scale. See appendix B.

Project Grading: The project is worth 100 points overall – 20 points for the paper (graded by me) – and 80 points for the presentation divided into a class evaluation (30 points) and a professor evaluation (50 points). I will score presentations out of 50 points using criteria listed on the attached “Evaluation Sheet for Marketing Strategy Presentations.” For 30 of the assignment points, students will evaluate and rank the other team presentations. The raw student rankings will then be used to determine ranking order for the final points from 29 to 24. The top ranked group among all of the discussion sections will earn the perfect 30 point score. The following example will help illustrate: Rank 1. 2. 3. 4. 5. 6. 7. 8.

Group Group #5 Group #2 Group #6 Group #1 Group #4 Group #8 Group #7 Group #3

Average Rank 1.6 1.9 2.6 3.6 4.2 4.6 5.1 6.2

Points 29 27 26 25 25 24 24 24

CLASS GUIDELINES Add/Drop Process Add/drop procedures are consistent with the Marshall School of Business academic calendar. Online Behavior Expectations

1. Class attendance and participation is important in developing a coherent view of the course material covered. Unless accommodated as described in (b) below, attendance and active participation is expected at the synchronous Zoom class sessions. a. Students are expected to have cameras on during the synchronous Zoom sessions, and preferably use headsets or earphones to ensure the best audio quality. Please advise me if you have circumstances under which you will not be able to meet these expectations. b. For students who are located in a time zone where the synchronous class sessions or exams fall outside the window of 8 a.m. to 10 p.m. in your local time zone, please contact me. The Zoom sessions will be recorded and posted on Blackboard, and you will be responsible for watching the recorded sessions. Exams and other synchronous

BUAD 307 – Marketing Fundamentals – Kovacevich – Fall 2020

assessments will be scheduled for students to be able to complete the assessment between 8 a.m. and 10 p.m. in your local time zone. 2. During synchronous Zoom sessions, the following etiquette is expected. a. Please do: i. Log into class early or promptly ii. Attend class where there is a reliable internet connection and without distractions iii. Dress respectfully. Video conference business meetings are and will be the norm, so practice your professional telepresence. iv. If you use a virtual background, please keep it respectfully professional. v. Display both your first and last name during video conferencing and synchronous class meetings. vi. Respectfully minimize distractions by muting and or turning off video if necessary and when appropriate. vii. Engage in appropriate tone and language with instructors and classmates. b. Please try not to: i. Engage in a simultaneous activity not related to the class. ii. Interact with persons who are not part of the class during the class session. iii. Leave frequently or not be on camera for extended periods of time. iv. Have other persons or pets in view of the camera. 3. All Zoom sessions will be recorded and posted in the Blackboard Course pages. Class Notes Policy Notes or audio recordings made by students based on a university class or lecture may only be made for purposes of individual or group study, or for other non-commercial purposes that reasonably arise from the student’s membership in the class or attendance at the university. This restriction also applies to any information distributed, disseminat...