MKTG 201–Principles of Marketing-Farrah Arif PDF

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Lahore University of Management Sciences SULEMAN DAWOOD SCHOOL OF BUSINESS

MKTG 201 Principles of Marketing Dr Farrah Arif

COURSE OUTLINE Spring 2013

Lahore University of Management Sciences MKTG 201– Principles of Marketing Spring 2013 Instructor Room No. Office Hours Email Telephone Secretary/TA TA Office Hours Course URL (if any)

Dr Farrah Arif 4- 34 SDSB TBA [email protected] 042-8560 8039 Mr Tahir Abbas / TBA TBA

Course Basics Credit Hours Lecture(s) Recitation/Lab (per week) Tutorial (per week) Course Distribution Core Elective Open for Student Category Close for Student Category

4 Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week Nbr of Lec(s) Per Week

2 N/A N/A

Duration Duration Duration

1 hour 50 minutes each N/A N/A

Yes Freshmen

Course Description Marketing helps in meeting the local and global challenges facing different organizations throughout the world. This course introduces, to the students, the fundamentals of marketing such as key concepts, theories, decisions and applications along with emerging marketing trends which are an integral part of managing profitable customer relationships and are essential to any successful organization. The goal of every marketer is to create more value for customers. This course will enhance students’ problem solving and decision making abilities towards Marketing related issues using customer-centric approach. Course Prerequisite(s) •

None

Course Objectives & Learning Outcomes A) B)

C) D) E)

The Marketing Process: Learning and Understanding of marketing process to develop an effective and efficient Integrated Marketing Plan Understanding of 5Cs: Understanding the role of Customers, Competition, Collaborators, Company and Context in the development of a marketing plan. Understanding the role of Marketing Research to manage marketing information to gain customer insights. Designing a Customer-Driven Strategy: Understanding the role of STP (Segmentation, Targeting and Positioning) for a successful marketing strategy. Designing a Customer-Driven Marketing Mix: Learning how to develop an effective and efficient marketing mix based on Branding and 4 Ps (Product, Promotion, Place, and Price) Customer Loyalty and Relationships in a Sustainable Marketing Way: Understanding the trade-offs of selling the product/services and negative impact on lives of consumers. Learning the implications of social responsibility and ethics. The plan of the course is shown in Exhibit 1 This course builds a foundation for marketing electives.

Lahore University of Management Sciences Grading Breakup and Policy Course Project (Team Based): 15 Quiz(s): 15 Attendance and Class Participation: 10 Midterm Examination: 25 Final Examination: 35

Examination Detail

Midterm Exam

Final Exam

Yes/No: Yes Combined/Separate: Combined Duration: 60 minutes Preferred Date: TBA Exam Specifications: Objective + Subjective Yes/No: Yes Combined/Separate: Combined Duration: 120 minutes Exam Specifications: Objective + Subjective

Teaching Methodology The course utilizes a mixture of interactive lecture (lecture slides, videos), class participation, class activities and group project. The students will form teams by the fourth session and will stay in the same team throughout the semester. The students will be given prior information regarding the topics to be discussed in the next session as well as the team activities to be performed so that they come prepared.

Expectations: • No late entry in the class after 5 mins • Students are not allowed to leave the class before the end of the session without a prior permission from the instructor • Students are supposed to be regular and punctual; however, they can avail three absences (including any emergency case) after that they’ll have -1 (from CP and Attendance) for each absence • Each student is supposed to actively participate in class discussions to earn his/her "class participation" (CP) grade. The instructor may call on students to answer questions and discuss class materials to encourage everyone to participate in the class discussions. • Zero tolerance towards ‘PLAGIARISM’ • Students are expected to follow Class Decorum • No use of mobile phones and laptops in class. • Assignments should be typed (other than class assignments). No late assignment is acceptable

Lahore University of Management Sciences Course Project Developing a Marketing Plan The course project experientially integrates the material presented in lectures and activities. It involves developing a Marketing plan for a new product/service. Each team should choose a product of its interest, with available and accessible information. The selected product/service must be approved by the instructor for starting the project. The project comprises the following parts. • • • • •

Introducing the Product/Service Analysis of 5 Cs Gap Analysis and STP Developing 4Ps Risks and Contingency Planning

Project Deliverable •

Group Presentation (Duration will be announced later)

Course Overview Session

Topics

Recommended Readings/Activities

Objectives/ Application

The Marketing Process Introduction to Marketing

Chapter-1 (Text) Class Exercise

Defining and understanding the marketing process.

Preparation of a Marketing Plan

Chapter-1 (Text) Chapter-2 (Text) Handouts

Developing a marketing plan

Chapter -2 (Text) Chapter – 5 (Text) Handouts Quiz 1 Chapter 6 (Text) Quiz 2 Chapter 18 (Text) Chapter 3 (Text)

Understanding how consumers think and act (B2C)

1

2

Understanding of 5Cs and Marketing Research 3

Importance of Consumer Behavior

4 5 6

Business Markets and Business Buyer Behavior Competitive Intelligence Analyzing the Company

7 8

Importance of Marketing Research

9

Chapter 4 (Text) Handouts Quiz 3

Understanding Business Buyers (B2B) Understanding the Competitor Understanding the marketplace and company’s micro and macro environment Learning of marketing research process and important tools

Designing a Customer-Driven Strategy: 10

Segmentation, Targeting, and Positioning (STP)

11

Chapter-7 (Text) Handouts Quiz 4

Understanding STP (Segmentation, Targeting, Positioning) strategies.

Chapter 8 (Text) Handouts Chapter 8 (Text) Handouts Chapter 2 (Text)

Understanding the designing of a product/service Understanding the brand architecture

Designing a Customer-Driven Marketing Mix 12 13 14

Designing a Product/Service Importance of Brands Managing Brand Portfolio

Lahore University of Management Sciences Handouts Quiz 5

Mid Term 16 17 18 19 20 21 22

New-Product Development Integrated Marketing Communication Advertising Personal Selling Social Media and Online Marketing Marketing Channels Retailing and Wholesaling Pricing Strategies I

23 24

Pricing Strategies II

Chapter 9 (Text) Handouts Chapter 14 (Text) Chapter 15 (Text) Handouts Chapter 16 (Text) Chapter 17 (Text) Handouts Chapter 12 (Text) Quiz 6 Chapter 13 (Text) Handouts Chapter 10 Handouts Quiz 7 Chapter 11

Understanding different stages of product development Understanding traditional and contemporary communication channels

Understanding supply chain and value delivery network

Understanding pricing strategies

Customer Loyalty and Relationships in a Sustainable Marketing Way Customer Relationship Building

Handouts Quiz 8

Social Responsibility and Ethics

Chapter 20

25

26 27 28

Understanding customer loyalty, the economics of loyalty, customer defection, loyalty programs and relationship building Learning about the negative consequences of marketing and how ‘marketing’ can be reformed

Presentation of Project (Learning how to develop effective and efficient Marketing Plan)

Final Exam Textbook(s)/Supplementary Readings Text •

Kotler, P., Armstrong, G., Agnihotri, P.Y. and Haque E. (2010). Principles of Marketing A South Asian Perspective, 13th edition, ISBN: 978-0-13-607941-5

Readings •

Will be distributed in the class

Lahore University of Management Sciences

Exhibit 1 ANALYSIS AND RESEARCH CUSTOMERS

CONTEXT

SEGMENTATION

PRODUCTS

COMPETITION

COLLABORATORS

MARKETING STRATEGY

STRATEGIC PLANNING

USP, POSITIONING

PROMOTION

IMPLEMENTATION

COMPANY

DIFFERENTIATION

PLACE

PRICE...