WELCOME TO MARKETING FUNDAMENTALS (BUAD 307)!

1. WELCOME TO MARKETING FUNDAMENTALS (BUAD 307)!

2. BUAD 307MARKETING FUNDAMENTALS

3. 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

4. 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

6. Why does Tony the Tiger wear a scarf?

7. Course Web Site

8. Textbooks Jonah Berger (2013), Contagious: Why Things Catch On, Simon & Schuster, ISBN-13: 978-1451686579. Dhruv Grewal and Michael Levy (2014), M:Marketing,4th ed., McGraw-Hill Irwin, ISBN-13: 978-0077861025

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

10. 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.

11. SURFING PSYCHOS

12. Class Meetings and Office Hours

13. Course Objectives • Apply fundamental marketing terms, concepts, principles, and theories to real-world situations in a global market • Describe how the marketing function adds value and fits into an organization, including the relationships between marketing issues and those of other business disciplines • Develop the critical thinking skills necessary to make effective marketing decisions in real world settings • Develop effective communication skills as they pertain to marketing • Develop effective collaboration skills as they relate to marketing • Identify and make judgments about questionable marketing practices by applying an ethical decision framework • Understand the advantages, disadvantages, opportunities, and tradeoffs involved in different marketing strategies and choices • Appreciate the dual roles of formal analysis and creativity in designing and implementing effective marketing programs

14. FEEDBACK FROM EMPLOYERS EMPHASIZES CRITICAL THINKING

15. THE REAL WORLD IS A MESSY PLACE! Context and dynamics are important!

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

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. Some Topics Covered In This Course • 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

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 • Car with built-in mini-safe • Bathroom water collector for garden re-use • Secular values training and leadership programs for children of busy parents not involved in organized religion • Sports free cable news network This does not have to be an entirely new product category. Adding a new feature or making alterations to a product category qualifies if this is likely to be of value to some customers. Even new specific shade of lipstick qualifies.

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 • Attracting a new type of student (e.g., “geeks”) to a fraternity or sorority

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.