Mohr, Jakki J.

English

University of Montana

University of MontanaScholarWorks at University of MontanaSyllabi Course SyllabiSpring 2-2-2004BADM 360.05: Principles of MarketingJakki J. MohrUniversity of Montana - Missoula, jakki.mohr@umontana.eduLet us know how access to this document benefits you.Follow this and additional works at: https://scholarworks.umt.edu/syllabiThis Syllabus is brought to you for free and open access by the Course Syllabi at ScholarWorks at University of Montana. It has been accepted forinclusion in Syllabi by an authorized administrator of ScholarWorks at University of Montana. For more information, please contactscholarworks@mso.umt.edu.Recommended CitationMohr, Jakki J., "BADM 360.05: Principles of Marketing" (2004). Syllabi. 9357.https://scholarworks.umt.edu/syllabi/9357Principles Syll. Spring 2004 Principles of Marketing Badm 360, Sections 4 and 5 Professor Mohr Classroom: 088 Ll4 Phone: 243-2920 Times: T/R9:40-ll:OO; 11:10-12:30 Office: 088 306 email: jakki.mohr@business.wnt.edu web site: www.business.umt.edu/faculty/mohr Office Hours: Tuesday 1:30-3:00; Wednesday 2:10-3:30 and by appointment Required Text: Marketing: Real People, Real Choices (2003), M. Solomon and E. Stuart, Prentice Hall, 3 n1 edition. Companion Website: www.prenhall.com/solomon/. The web site includes current news articles related to class material on a chapter-by-chapter basis, Internet exercises and resources, a research area (useful for any term project), a chat area, as well as writing skills and tutoring assistance. Please give me any feedback on this site as you use it (which I will pass along to the publisher). Required Reading Packet and Notes: Available at the UC. Course Content: This course will provide and introduction to and application of marketing tools, including: • 	 The need to build and maintain long-term relationships with customers over time (relationship marketing) • 	 Strategic marketing planning and SWOT (strengths, weaknesses, opportunities, and threats) analysis • 	 The role of corporate social responsibility in building marketing relationships • 	 Collecting and understanding information (marketing research) about markets, conswners, and business customers • 	 Segmentation analysis, target market selection, and positioning • 	 The "4 P's" of marketing: product, price, "place," and promotion • 	 Considerations of ethical implications of marketing practices. For many of these topic areas, there will be an accompanying reading from the popular press about current marketing applications. The overall objectives of the course are to: • 	 Familiarize students with a basic working knowledge of marketing in today's organizations; • 	 Provide hands-on practice in marketing problem solving, applying standard marketing tools; • 	 Develop and enhance students' ability to critically evaluate marketing problems from a variety of perspectives, including managerial/ strategic, as well as ethical/social. Classroom Environment/Goals: In order to provide an enjoyable, provocative learning experience, this will be a discussion-based course. Regular attendance, active learning, and participation are expected. My hope is to foster a challenging yet supportive environment where you can flourish and learn. The above goals are in keeping with the mission of the School of Business, which states: "The faculty and staff of the School of Business Administration at The University of Montana-Missoula are committed to excellence in innovative experiential learning and professional growth through research and service." Code of Conduct: I assume that students are familiar with the Student Conduct Code, especially as it pertains to academic misconduct. Please note that it is a form of academic misconduct to submit work that was previously used in another course. Course Requirements Exams (4@100) 400 Participation 50 Total Points 450 Exams. Four exams will be given, consisting of multiple choice questions. * No late exams or make-ups will be given. * * Exams will be returned and discussed in class. Students not in class when the exams are returned will miss any discussion related to the exam. Class Participation:_My evaluation of your participation emphasizes the quality component of your comments and your contribution to the spirit of the class (questions, comments, examples shared, etc). Quantity oftalking is not the basis for your evaluation; rather, it is your thoughtful, meaningful class contributions which should demonstrate advance preparation for each class (i.e., by reading, analyzing, and synthesizing assigned reading materials). Merely attending class is a necessary but not sufficient condition for earning class participation points. Please ask me for feedback concerning your participation at any point during the semester. Ifyou hope to make effective changes in your participation, it is best to do so before too late in the semester. Extra Credit: Students may submit by 3:30 in the afternoon one week prior to each exam up to three multiple-choice questions that I will consider using on the exam. Any material is fair game: textbook, speakers, articles, films, class discussion. lfl use your question(s), you will receive extra credit in the amount equal to the multiple-choice value of those points on the exam. An added bonus: You'll likely get that exam question correct. If I use only a portiol\ of your question, you will receive partial points. No late questions accepted. Don't put me in an awkward position by even asking-it is not fair to me or your peers. General: You are encouraged to discuss your work and progress with me at any time in order to discuss specific problem areas, to further clarify material, or to provide you with more concrete suggestions on how to improve your performance. SUGGESTED METHOD OF STUDY 0. 	 First: read the assigned chapter before class! Use your powerpoint outlines as a guide to what I will emphasize in class. 1. 	 Students will find it advantageous to find a study partner/group. This partner/group is more than just your back-up for notes and assignments in case you miss class; it is the best way to prepare for exams. 2. 	 You should meet with your study group periodically to compare and go over class notes. Because class is heavily oriented towards discussion, note-taking is more difficult than in a straight lecture format. When you find areas of discrepancy or confusion in your notes, please ask for clarification during the next class period, or come and see me. 3. 	 Individually, you should supplement (weekly) your lecture notes with notes from the text, as appropriate, emphasizing those areas on which we spend more time in class. 4. 	 You should know by memory an outline for all class materials, and you should have your own definitions for all terms. Especially an understanding of steps involved in designing marketing strategy and the criteria by which strategies are evaluated will be helpful. 5. 	 Practice critical thinking. In your groups, you should quiz each other about real life applications/examples of marketing issues; • 	 What marketing characteristics/principles are being exhibited in the example? • 	 Is the company/product following prescribed marketing practice? Why or why not? • 	 What should the company do differently, or what should they consider as additional, factors in future strategy? All answers should, at a minimum, address and relv on concepts learned in class. Tentative Course Outline: Topic/Article Chapter Tu Jan27 Introduction: What is marketing? 1 Th Jan29 Relationship Marketing Packet Reading: Why Service Stinks (handed out in class, day 1) Tu Feb. 3 Marketing Planning Process 2 Begin Strategic Planning and Product Portfolio Models Th Feb. 5 SWOT .(\nalysis pp. 74-84 TQM and Customer Satisfaction pp. 70-73 Tu Feb. JO Introduce Social Responsibility pp. 60-72 Packet Reading: "Should Companies Care?" Begin Global Marketing (ethics) Packet Reading: Two Ways to Help the Third World Th Feb. 12 Review for Exam Tu Feb. 17 Global Marketing 4 Packet Reading: Small is Profitable Th Feb. 19 Examl Tu Feb. 24 Marketing Research 5 Th Feb. 26 (Continued) Tu Mar2 Consumer Behavior 6 Th Mar4 Packet Readings: Getting Inside Gen Y The CEO of Hip Hop Tu Mar9 Segmentation , Targeting, and Positioning 8 Th Mar II Packet Reading: It's Mind Vending: Sell it to the Psyche Tu Mar 16 Review Th Mar 18 EXAM2 Mar23 Product Strategy 9 Mar25 Product Strategy (cont) JO March 29-April 2 Happy Spring Break! Tu April 6 Pricing 12 Th April 8 Pricing and Math Examples 13 Math Problems are attached to Syllabus Tu April 13 Review Th April 15 Exam3 TuApr20 Advertising 15 Th Apr22 Packet Reading: It's An Ad Ad Ad Ad World Tu Apr27 PR and Sales Promotion 16 Th Apr29 IMC 14 Tu May4 Distribution Channels 17 Packet Reading: Costco Reading Th May6 Wrap-Up Final Exam for Section 4 (9:40 section): 8:10-10:00 Wednesday, May 12 Final Exam for Section 5 (11:10 section): 8:10-10:00 Thursday, May 13 Readings for Principles of Marketing BADM 360, Sections 4-5 Spring2004 Professor Mohr (Readings are in your class packet.) Brady, Diane (2000), "Why Service Stinks," Business Week, October 23, pp. 118-122. Colvin, Geoffrey (2001), "Should Companies Care?" Fortune, June 11. Kirkpatrick, David (2003), "Two Ways to Help the Third World," Fortune, October 27, pp. 187­196. Kripalani, Manjeet and Pete Engardio (2002), "Small is Profitable," Business Week, August 26, pp. 112-114. Paul, Pamela (2001), "Getting Inside Gen Y," American Demographics, September, pp. 42-49. Berfield, Susan (2003), "The CEO of Hip Hop," Business Week, October 27, pp. 90-98. Paul, Pamela (2003), "It's Mind Vending: Sell it to the Psyche," TIME Magazine, September 15 (October, TIME Bonus Section, Inside Business). Eisenberg, Daniel (2002), "It's an Ad Ad Ad Ad World," TIME, September 2, pp. 38-41. Moriwaki, Lee (1997), "Huge Profits on Slim Margins," Missoulian, September 7. Extra Readings: Manjeet Kripalani and Pete Engardio (2003), "The Rise Of India," Business Week, December 8. Parloff, Rober (2003), "ls Fat the Next Tobacco?" Fortune, January 21. Pricing Problems Principles of Marketing • I. Now Next Month Price SIO $5 Quant. 100 150 Is this product elastic or inelastic? Why? 2. 	 A manufacturer ofintegrated circuit chips has developed a demand schedule that shows the relationship between prices and demand based on a survey, as follows: Price Number who would buv $1 300 2 250 3 200 4 150 5 100 a. 	 Graph a demand curve and the total revenue curve based on these data. What price might be set based OD this analysis? b. 	 What other factors should be considered before the final price is set? 3. 	 Touche, Inc. has developed an addition to its Liz.ardman Oil line tentatively branded Oil d'Toade. Unit variable costs are 45 cents for a 3-ounce bottle, and heavy marketing expenditures in the first year would result in total fixed costs of$900,000. Oil d'Toade was priced at $7.50 for a 3-ounce bottle. How many bottles ofOil d'Toade must be sold to break even? 4. 	 Suppose that marketing executives Touche, Inc. reduced the price to $6.50 for a 3-ounoe bottle ofOil d'Toade and the fixed costs were $1,100,000. Suppose further that the unit variable cost remained at 45 cents for a 3-ounce bottle. a. 	 How many bottles must be sold to break ~? b. 	 . What dollar profit level would Oil d'Toade achieve if200,000 bottles were sold? 5. 	 Executives ofRandom Recordings, Inc. produced a subJiminal improvement tape entitled Motivation to Market bY the Starshine Sisters Band. The cost and price information were as follows: • Tape cover $1.00 per album Songwriter's royalties 0.30 per album Recording artists' royahies . 0.70 per album Direct material and labor costs to produce the tape 1.00 per album Fixed cost ofproducing a tape (advertising, studio fee, etc.) 100,000.00 Selling price 7.00 per album a. 	 Prepare a break-even chart showing total cost, fixed cost, and total revenue for tape quantity sold levels starting at l 0,000 tapes through 50,000 tapes at 10,000 tape intervals; that is, l 0,000, 20,000, 30,000, and so on. • b. What is the break-even point for the tape? 6. 	 The Hesper Corporation is a leading manufacturer ofhigh-quality upholstered office furniture. Current plans call for an increase of$600,000 in the advertising budget. Ifthe firm sells its desks for an average price of$850 and the unit variable costs are $550, then what dollar sales increase will be necessary to cover the additional advertising? 7. 	 Suppose executives estimate that the unit variable cost for their car phones is $100, the fixed cost related to the product is $10 million annually, and the target volume for the next year is 100,000 phones. What sales price will be necessary to achieve a target profit of$1 million? 8. 	 Suppose a manufacturer ofoffice equipment sets a suggested price to the customer of $395 for a particular piece ofequipment to be competitive with similar equiJLmep,t.., The manufacturer sells its equipment to a distnbutor who receives a 25 percent~l1md a retailer who receives a 50 percent mcr~p. At what price will the manufacturer sell the equipment to the wholesaler? f'nru.~" • • ·-·---­

BADM 360.05: Principles of Marketing

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BADM 360.05: Principles of Marketing

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