WELCOME TO MARKETING FUNDAMENTALS (BUAD 307)!

1. WELCOME TO MARKETING FUNDAMENTALS (BUAD 307)!

2. BUAD 307MARKETING FUNDAMENTALS

5. Course Web Site

6. Textbooks Erik Qualman (2012), Socialnomics: How Social Media Transforms the Way We Live and Do Business (2nd ed.), Wiley, ISBN-13: 978-1118232651 Dhruv Grewal and Michael Levy (2012), Marketing, 3rd ed., McGraw-Hill Irwin, ISBN-13: 978-0078028854

7. Why does Tony the Tiger wear a scarf?

8. About the Instructor: Lars Perner • Ph.D., Marshall School of Business, University of Southern California, 1998 • Courses taught: • Marketing Fundamentals • Consumer Behavior • International Marketing • Marketing Strategy • Intro to International Business • Channels/Distribution • Agricultural Marketing • Internet Marketing

9. About the Instructor: Lars Perner • Research interests: • Consumer Behavior • International Marketing • Consumer Price Response • Consumer Bargain Hunting • Branding • Corporate Philanthropy • Non-Profit Marketing • “Win-win” Deals • Autism Spectrum Disorders and Subtypes • Country of birth: Denmark • Selected outside involvement • Marketing Educators’ Association • Autism Society of America

10. About the Instructor: Hobbies and Interests • Gardening • Music • Spicy foods • Supreme Court oral arguments • Computers and technology With my sisters

11. Warning! • Beware of relying on PowerPoint printouts! • Psychological research shows that comprehension and memory suffer if you do not take notes in your own hand.

12. In lecture, computers and cell phones are permitted only for note taking and LectureTools usage. During discussion, computers are permitted when PowerPoint slides are displayed (LectureTools and note taking only) and when specifically authorized for in-class activities. Violators are subject to serious sanctions as discussed in the syllabus.

13. SURFING PSYCHOS

14. Class Meetings and Office Hours

15. Course Objectives • Understand the role of marketing in firms that function in an increasingly global and competitive market; • Understand basic concepts and ideas used in marketing; • Develop knowledge and tools necessary to design and implement effective marketing programs; • Understand the advantages, disadvantages, opportunities, and tradeoffs involved in different marketing strategies and choices; • Appreciate ethical implications of marketing decisions; and • Appreciate the dual roles of formal analysis and creativity in designing and implementing effective marketing programs.

16. The Socratic Method • Used in law schools • Learning by induction—developing general ideas by examining specific cases • Development of analytical skills • Research shows that learning tends to be enhanced when information is acquired through answering questions

17. Application to needs of real firms rather than memorization Broad overview of marketing Assignments require individual initiative and thinking Course Philosophy

19. Grading

20. Grading Issues • Course grades are assigned based on the total number of points accumulated. LETTER GRADES WILL NOT BE ASSIGNED TO PROJECTS OR EXAMS ALONE (see syllabus). • Marshall competition is very intense. • Not everyone can be “above average.” Some will be below.

21. More Grading Issues • Extra credit cannot be assigned. • Grading is based on performance. It is NOT assumed that you start out as “perfect” and have “points taken off” for deficiencies. A perfect score takes a nearly superhuman person! • Grading is NOT based on effort put in (or perceived effort put in or effort reported to have been put in). • Final grades can generally only be changed to correct mistakes in arithmetic, Scantron misreads, or data entry that have been made. Work quality or cut-offs cannot be re-evaluated under the USC grade change policy.

23. Creating customer value Marketing Strategy Ethics and Social Responsibility Marketing Research Consumer Behavior International Marketing Segmentation, Targeting, and Positioning The Marketing Mix Product Price Promotion Distribution (“Place”) Electronic Commerce Some Topics Covered In This Course

24. PROJECT PRODUCT OR SERVICE CHANNEL FOR DISTRIBUTING AN EXISTING PRODUCT OR NEW OR OR TARGET MARKET FOR AN EXISTING TYPE OF PRODUCT PRODUCT OR SERVICE “TRANSPLANTED” FROM ONE COUNTRY TO ANOTHER OR

25. Course Project • Please choose: • A new product or service not currently in existence; • An existing product or service that has potential to be targeted to a segment or type of consumers that currently does not use the product • An existing product or service that could achieve significant additional sales if distributed through a new channel; or • An existing product that is sold in one or more countries and can be introduced in another specific country where it is currently not widely used.

26. Project Structure • Proposal • Office visit to discuss the proposal • Secondary Market Research • Applications Paper

27. Examples: A New Product or Service • Auto GPS system that offers the “least stressful” route as one of options • Secular values training and leadership programs for children of busy parents not involved in organized religion

28. Examples: Existing Product For New Target Market • Video games marketed to senior citizens (who want to preserve mental agility and/or play with their grandchildren) • Noise cancelling headphones for children vulnerable to distraction.

29. Examples: Existing Product With Potential Through New Distribution Channel • Financial planning programs sold through churches, synagogues, or mosques. • Inkjet printer cartridges sold through Greek houses • Groceries being delivered to car pool or van pool departure sites.

30. Examples: Existing Product for a New Country • Fortune cookies (which are actually not used in Mainland China) • U.S. fast food chains abroad • Foreign fast food chains in the U.S.