CLASS SYLLABUS          NAME: _______________________________

MKT 328 PRINCIPLES OF MARKETING
Union University
Spring 2005

Dr. Keith Absher, BAC 21                                       Home Phone (731) 499-1750

Office Phone (731) 661-5367                                 Cell Phone (731) 661-4330

E - mail, kabsher@uu.edu                                     Fax (731) 661-5366
 

2004-2005 Bulletin Description:

MKT 328 (3) PRINCIPLES OF MARKETING.  Exploration of the role of marketing in a free enterprise system through the development, implementation, control, and evaluation of marketing strategies with emphasis on marketing models and concepts utilized in decision making.  Prerequisite:  ECF 212.

Required Material: 

Boone & Kurtz, Contemporary Marketing, 11^th Edition (2004)

Grading: 

     Exam 1            24%
     Exam 2            24%
     Exam 3            24%

     Papers,
     Projects,
    Attendance &    28%
    Participation        

Class Schedule:

MKT 328       Principles of Marketing                 8:00 –    9:15   TR  BAC 41
MKT 328 A1 Principles of Marketing                  6:00 -- 10:00    R    BAC 43

FINAL Exam Schedule:

MKT 328       Principles of Marketing   8:00 TR May 17, 8:00 – 10:00
MKT 328 A1 Principles of Marketing   6:00   R  March 17, 6:00 – 10:00

Chapter 1

1. Explain how marketing creates utility through the exchange process.
2. Contrast marketing activities during the four eras in the history of marketing.
3. Define the marketing concept and its relationship to marketing myopia.
4. Describe the characteristics of not-for-profit marketing.
5. Describe the five types of nontraditional marketing.
6. Outline the changes in the marketing environment due to technology.
7. Explain the shift from transaction-based marketing to relationship marketing.
8. Identify the universal functions of marketing.
9. Demonstrate the relationship between ethical business practices and marketplace success.

Chapter 2

1. Distinguish between strategic planning and tactical planning.
2. Explain how marketing plans differ at various levels in an organization.
3. Identify the steps in the marketing planning process.
4. Describe the concept of a SWOT analysis and its major elements.
5. Discuss how a strategy can be implemented through marketing plans.
6. Identify the basic elements of a marketing strategy.
7. Describe the environmental characteristics that influence strategy decisions.
8. Explain how the strategic business unit concept, the market share/market growth matrix, the market attractiveness/business strength matrix, and spreadsheet analysis can be used in marketing planning.

Chapter 3

1. Identify the five components of the marketing environment.
2. Explain the types of competition marketers face and the steps necessary for developing a competitive strategy.
3. Describe how government and other groups regulate marketing activities and how marketers can influence the political-legal environment.
4. Outline the economic factors that affect marketing decisions and consumer buying power.
5. Discuss the impact of the technological environment on a firm’s marketing activities.
6. Explain how the social-cultural environment influences marketing.
7. Describe the role of marketing in society and identify the two major social issues in marketing.
8. Identify the four levels of the social responsibility pyramid.

Chapter 4

1. Describe the importance of international marketing from the perspectives of the individual firm and the nation.
2. Identify the major components of the environment for international marketing.
3. Outline the basic functions of GATT, WTO, NAFTA, the proposed FTAA, and the European Union.
4. Compare the alternative strategies for entering international markets.
5. Differentiate between a global marketing strategy and a multidomestic marketing strategy.
6. Describe the alternative marketing mix strategies used in international marketing.
7. Explain the attractiveness of the U. S. as a target market for foreign marketers

Chapter 5

1. Define e-commerce and give examples of each function of the Internet.
2. Describe how marketers use the Internet to achieve their firms’ objectives.
3. Explain how online marketing benefits organizations, marketers, and consumers.
4. Identify the goods and services marketed most often on the Internet.
5. Identify the primary online marketing channels.
6. Explain how marketers use interactive tools as part of their online marketing strategies.
7. Discuss how an effective Web site can enhance customer relationships.
8. Describe how to measure the effectiveness of online marketing efforts.

Chapter 6

1. Contrast transaction-based marketing with relationship marketing.
2. Identify and explain each of the core elements of relationship marketing.
3. Explain the steps in the development of a marketing relationship and how they lead to enhanced customer satisfaction.
4. Explain customer relationship management (CRM) and the role of technology in building customer relationships.
5. Describe the buyer-seller relationship in business-to-business marketing.
6. Compare the different types of business partnerships and explain how they contribute to relationship marketing.
7. Describe how relationship marketing incorporates national account selling, electronic data interchange, vendor-managed inventories, and collaborative planning, forecasting, and replenishment techniques.
8. Identify and evaluate the most common measurement and evaluation techniques within a relationship-marketing program.

Chapter 7

1. Describe the development of the marketing research function and its major activities.
2. List and explain the steps in the marketing research process
3. Differentiate between the types and sources of primary and secondary data.
4. Explain the different sampling techniques used by marketing researchers.
5. Identify the methods by which marketing researchers collect primary data.
6. Discuss the challenges of conducting marketing research in global markets.
7. Outline important uses of computer technology and marketing research.
8. Identify the major types of forecasting methods and explain the steps in the forecasting process.

Chapter 8

1. Identify the essential components of a market.
2. Outline the role of market segmentation in developing a marketing strategy.
3. Describe the criteria necessary for effective segmentation.
4. Explain each of the four bases for segmenting consumer markets.
5. Identify the steps in the market segmentation process.
6. Discuss four basic strategies for reaching target markets.
7. Summarize the types of positioning strategies.
8. Explain the reasons for positioning and repositioning products.

Chapter 9

1. Differentiate between customer behavior and consumer behavior.
2. Explain how marketers classify behavioral influences on consumer decisions.
3. Describe cultural, group, and family influences on consumer behavior.
4. Describe each of the personal determinants of consumer behavior; needs and motives, perceptions, attitudes, and self-concept theory.
5. Discuss the difference between high-involvement and low-involvement purchase decisions.
6. Outline the steps in the consumer decision process.
7. Differentiate among routinized response behavior, limited problem solving, and extended problem solving by consumers.

Chapter 10

1. Explain each of the components of the business market.
2. Describe the major approaches to segmenting business-to-business markets.
3. Identify the major characteristics of the business market and its demand.
4. Describe the major influences on business buying behavior.
5. Outline the steps in the organizational buying process.
6. Classify organizational buying situations.
7. Explain the buying center concept.
8. Discuss the challenges of marketing to government, institutional, and international buyers.

Chapter 11

1. Define the term product and distinguish between goods and services.
2. List the classifications of consumer goods and services, and briefly describe each category.
3. Describe each of the types of business goods and services.
4. Discuss how total quality management (TQM) is implemented.
5. Explain the role benchmarking plays in achieving continuous improvement.
6. Explain why firms develop lines of related products rather than marketing individual items.
7. Identify the major product mix decisions that marketers must make.
8. Explain the concept of the product life cycle and how a firm can extend a product’s life cycle.

Chapter 12

1. Explain the benefits of category and brand management.
2. Identify the different types of brands.
3. Explain the strategic value of brand equity.
4. Discuss how companies develop strong identities for their products and brands.
5. Describe the strategies for new product development.
6. Describe the consumer adoption process.
7. List the stages in the process for developing new products.
8. Discuss the relationship between product safety and product liability.

Chapter 13

1. Outline the legal constraints on pricing.
2. Identify the major categories of pricing objectives.
3. Explain price elasticity.
4. List the practical problems involved in applying price theory concepts to actual pricing decisions.
5. Explain the major cost-plus approaches to price setting.
6. List the chief advantages and shortcomings of using breakeven analysis in pricing decisions.
7. Identify the major pricing challenges facing online and international marketers.

Chapter 14

1. Compare the alternative pricing strategies and explain when each strategy is most appropriate.
2. Describe how prices are quoted.
3. Identify the various pricing policy decisions that marketers must make.
4. Relate price to consumer perceptions of quality.
5. Contrast competitive bidding and negotiated prices.
6. Explain the importance of transfer pricing.
7. Compare the three alternative global pricing strategies.
8. Relate the concepts of cannibalization, bundle pricing, and bots to online pricing strategies.

Chapter 15

1. Describe the roles that marketing channels and logistics play in marketing strategy.
2. Describe the various types of distribution channels available to marketers.
3. Outline the major channel strategy decisions.
4. Describe the concepts of management, conflict, and cooperation within the marketing channel.
5. Identify and compare the major components of a physical distribution system.
6. Compare the major transportation alternatives on the basis of speed, dependability, cost, frequency of shipments, availability in different locations, and flexibility in handling products.

Chapter 16

1. Explain the wheel of retailing.
2. Explain how retailers select target markets.
3. Show how the elements of the marketing mix apply to retailing strategy.
4. Explain the concepts of retail convergence and scrambled merchandising.
5. Identify the functions performed by wholesaling intermediaries.
6. Identify the major types of independent wholesaling intermediaries and the situations appropriate for each.
7. Compare the basic types of direct marketing and nonstore retailing.
8. Explain ways in which the Internet has altered the wholesaling, retailing, and direct marketing environments.

Chapter 17

1. Discuss how integrated marketing communications relates to the development of the promotional mix.
2. Describe the communication process and how it relates to the AIDA concept.
3. Discuss how the promotional mix relates to the objectives of promotion.
4. Identify the different elements of the promotional mix and explain how marketers develop the promotional mix.
5. Discuss the role of sponsorships and direct marketing in integrated marketing communications.
6. Contrast the two major alternative promotional strategies.
7. Explain how marketers budget for and measure the effectiveness of promotion.
8. Discuss the value of marketing communications.

Chapter 18

1. Identify the three major advertising objectives and the two basic categories of advertising.
2. List the major advertising strategies.
3. Describe the process of creating an advertisement.
4. List and compare the major advertising media.
5. Outline the organization of the advertising function and the role of an advertising agency.
6. Identify the principal methods of sales promotion.
7. Explain the roles of cross promotions, public relations, publicity, and ethics in an organization’s promotional strategy.
8. Explain how marketers assess promotional effectiveness.

Chapter 19

1. Explain the conditions that determine the relative importance of personal selling in the promotional mix.
2. Contrast over-the-counter selling, field selling, telemarketing, and inside selling.
3. Describe each of the four major trends in personal selling.
4. Identify the three basic sales tasks.
5. Outline the steps in the sales process.
6. Describe the sales manager’s boundary-spanning role.
7. List and discuss the functions of sales-force management.
8. Discuss the role of ethics in personal selling and sales-force management.