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Spring 2018

Welcome to Principles of Marketing!This class is intended to provide you with an overview of the basic marketing concepts and tools. Regardless of the field you ultimately choose to pursue, this course should give you a strong grounding in the marketing discipline.

Most people think of marketing asthe advertising, promotion and sales of consumer goods. This popular, narrow conception of marketing is not surprising given that these are the most common marketing activities with which the average person has direct experience. The

scope of this course, however, will reflect the full breadth of the principles and practice of marketing.

Fundamentally, marketing includes two core activities1) understanding customer needs2) satisfying customer needs

with the ultimate goal of driving revenue for the organization.

While this charter for marketing seems relatively simple, there are many complex and interdependent decisions that a company must make with respect to its marketing mix: the products it sells, the prices it charges, where it sells the products and how they are positioned and communicated in the market.

Before a company can decide what its marketing mix will be, however, it must decide what market it is in and who it wants to target within that market – the choice of which depends on a rigorous analysis of a variety of external and internal factors as well as a thorough understanding of customer needs and organizational competencies.

The overall intent of this course is to introduce you to the terminology, concepts and activities that are fundamental to marketing. While there is necessarily a lot of detail that we will cover, your primary objective should be to develop a “mental map” of marketing that you will be able to evolve and apply in subsequent courses and throughout your career – regardless of whether you are identified as a “marketing person” or not.

Principles of Marketing - Honors

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Course Details, Objectives, & Approach Instructor Stephen Walls, Ph.D.; stephen.walls@austin.utexas.edu; 512.422.1918

Office; Hours GSB 4.126K; meetings by appointment

TA Andreas Kraft; andreas.kraft@mccombs.utexas.edu

Class Info CBA 4.324 04900 - M/W 2:00 - 3:15

Primary Course Objectives• Understand the marketing discipline, including the terminology,

concepts & activities of marketing used to drive revenue goals and address business challenges

• Understand the “big picture” of marketing, including the relationships between:

• marketing strategy & business strategy• marketing activities & activities in other functions• marketing activities & economic activity• marketing activities & society

Secondary Course Objectives• Improve business communication & writing skills• Learn about marketing careers

Course ApproachTo start with, it is important for you to understand marketing-specific terminology, concepts, & activities. • The first step in accomplishing this will be for you to read the assigned chapters by

the dates outlined in the schedule. • In addition, our class discussions will reinforce key concepts.

Reading text chapters and attending class is, however, only the first step. To really understand this material, you must also learn to apply it. To accomplish this, we will also have:• Assigned readings from “popular press” sources (e.g., The Wall Street Journal)• Class discussions & activities• Several assignments intended to give you an opportunity to apply what you have learned

Class Resources1. Coursepack - Core Readings

Available for $50 on Harvard Business Press website2. The Growth Gears by Saxby & Hayes

Available at the UT Co-op or other retailers; list price $25.99 and used copies are acceptable3. Course Articles, Lecture Slides, & Course Assignments

Available on Canvas

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A few of my thoughts on teaching...My goal is to provide tools and create an environment for learning. I believe my responsibility as an

instructor is to ensure that this class contributes to the overall return on your investment by providing a worthwhile set of tools and resources and doing my best to demonstrate how interesting and important this topic can be to you and the world-at-large.

Since you all learn in different ways, your responsibility is to take advantage of all the resources provided in all the ways that are best for you. I expect you to be very active in your learning, rather than sitting on the sidelines as a passive observer. I have created a fairly specific structure to this course, but will maintain flexibility so that we can adapt to the needs and desires of those participating.

Throughout this course I am trying to encourage you to read the material from the resources provided, critically think about how they apply to a variety of marketing circumstances, make connections to concepts larger than marketing, and consider how you will make the world a better place through your work.

Class ParticipationIn the business world, you must be able to communicate your thoughts clearly and intelligently, regardless of whether you think of yourself as more introverted or extraverted. Therefore, we will be practicing communication skills and you will be contributing to the knowledge built in this class by sharing your thoughts. Come prepared to engage in the discussions by reading the articles and chapters and by also forming opinions and questions about the material presented. I will call upon you from time to time, but these will not be attempts to harass or embarrass you, I promise. I simply want to give everyone more experience in being prepared to speak on the spot about various topics.

CommunicationTo further emphasize the importance of communication as a key skill for anyone involved in any aspect of marketing, not to mention almost every other aspect of business, your assignments will be evaluated based on your ability to communicate effectively, in addition to your effort and content. This will apply to both written and oral presentations of your work. Communicating effectively includes the ability to organize your thoughts coherently and use language accurately so that the story is told in the best way possible.

Contacting MeThere is just no substitute for attending class to get all of the information you need - I do not send most instructions via email.

Please use email VERY sparingly - just talk to me before or after class or during office hours. Do not email assignments to me unless you’ve checked with me first, as they tend to get lost in the shuffle of my inbox. Never use email to discuss grades, express concerns, launch into passionate diatribes, or anything similar. Instead, set up time with me to discuss these things in person.

Also, I am really bad about checking my office voicemail, so if you have a true emergency, it is definitely best to call or text my mobile phone (notice the word “emergency” there).

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Grading & Assignments

Exam 1 20%Exam 2 20%Exam 3 20%Class Activities & Quizzes 20%Individual Class Contribution 20%____________________________________________________Total 100%

Grades will follow plus/minus system with the following cut-offs. 100-93=A, Below 93 to 90=A-, Below 90 to 87=B+, Below 87 to 83=B, Below 83 to 80=B-, Below 80 to 77=C+, Below 77 to 73=C, Below 73 to 70=C-, Below 70 to 67=D+, Below 67 to 63=D, Below 63 to 60=D-, Lower than 60=F. Note: I will not round up - an 89.99 (as close as it is to 90) will still be a B+. I assume all assignments will be turned in on time and will penalize late assignments at my discretion (i.e. I will consider valid, documented reasons, but I will significantly penalize your grade if the lateness is unwarranted, including computer, printer, relationship, and transportation issues, just to name a few). Also, you should not trust Canvas to calculate your grade correctly, as it is typically not accurate. Please use the individual scores on Canvas and the weightings above to calculate your grade correctly.

ExamsThere will be 3 exams and, collectively, they account for up to 60% of your grade. The exams will only be given on the assigned exam dates. Exams end promptly at the end of the class time, regardless of when you arrive, so be sure to arrive on time, and no students will be allowed to begin their exam after the first student finishes.

Format: The exams will be structured based on several business scenarios, each about a company and a marketing context they are facing. All exam responses will be open-ended, although some minimal structure will generally be provided to guide you. Each exam will cover only the material from that portion of the syllabus (i.e, since the last exam). The material will be drawn from the assigned coursepack and book readings, along with information discussed during class. All exams will be “closed note” and “closed-book.” You will not be tested over specific content from the articles, but everything else is fair game, including material in your readings that we did not cover in class.

Make-Up Final Exam: There are NO make-up exams, but you can take a make-up final exam if you have to miss an exam for ANY reason, including car trouble, interview, illness, school-sponsored trip, personal issue, family issue, etc.. The final exam will be comprehensive over the entire course and will be scheduled based on the final exam schedule published by the university. Due to university guidelines, the scheduled final exam time is the only opportunity to take this optional exam - no other days or times will be offered for the final. The make-up final exam can not be used to replace a previous exam grade. If you need to miss more than one exam, you should consider dropping the class since there is no provision to replace more than one exam grade.

Review & Appeals: Exam grades will be posted on Canvas as soon as possible after the exam. If you want to review your exam, you can go to the TA to find exactly which questions you missed and/or to discuss any of the questions on the exam. After reviewing your exam, you may submit an appeal on any question for which you believe there is some cause for review. Each appeal must be submitted as a typed document through Canvas, using the form available on Canvas, by the beginning of the second class session following the posting of exam grades. The form must be completed in its entirety and your supporting documentation should be thorough and include a detailed, fact-based explanation of why you think the grade is in error (passage from a reading, lecture slide, etc.). A maximum of two questions per exam may be appealed. Note that an appeal is not an opportunity to provide new information or explain an answer, but instead to correct a grading error on the answer submitted. Your grade may be increased or decreased as a result of the appeal. Due to tight grading timelines at the end of the semester, no appeals for Exam 3 or the Final Exam will be considered. Further, all grading mistakes must be resolved by the end of the second class session following the posting of exam grades. Grades will not be modified after this date.

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Class Activities & QuizzesMost class sessions will include a quiz or activity based on the assigned reading and class discussion. Occasionally, exercises may be designated for completion outside of class. Generally, students will work individually on quizzes and in teams on activities, but that distinction will be designated for each. Quizzes will most likely be unannounced and can cover the chapters and articles assigned for that day, as well as material read and discussed prior to that class. Your lowest quiz grade will be automatically dropped.

Students not in class or otherwise not contributing to an activity will receive a zero for that quiz or activity. There will be no make-up quizzes or activities for ANY reason. The two lowest quiz and exercise grades for the semester (i.e., only two scores will be dropped, NOT two of each type of assignment) will be dropped for each student to accommodate absences for any reason. Unless specifically directed, you may not use any books, notes, or electronic devices during quizzes. If you are found to be using any forbidden materials or violating the Scholastic Dishonesty Policy in any way, you will be subjected to the maximum penalties described in the Policy Statement on Scholastic Dishonesty for the McCombs School of Business.

The grading scheme for quizzes and activities will be as follows:Well-written and include high levels of insight in excess of minimum requirements: 9-10 pointsWell-written and fully meet the minimum requirements 8 pointsNot well-written and/or do not fully meet minimum requirements 1-7 pointsNo quiz taken or no contribution to activity 0 points

Individual Class ContributionAs in business, this class places a heavy emphasis on individual contribution. All students are expected to take an active, insightful, and productive role in class. In most class meetings, several students will be the recipient of a “cold call.” Additionally, there will be multiple opportunities for student to volunteer their insight on the discussion topics.

With the exception of the first day of class and exam days, individual contribution will be graded by the teaching assistant and instructor in every class meeting. The process of grading individual contribution is facilitated by assigned seating and the use of name cards. You will frequently have the opportunity to suggest a self-appraisal of your individual contribution, which will provide us an opportunity to identify and address any discrepancies in the perception of individual contribution.

The grading scheme for individual contribution will be as follows:Present & contributing especially insightful comments that enhance the learning of others 9-10 pointsPresent and actively contributing to the discussion 8 pointsPresent and not obviously unprepared 7 pointsPresent but unprepared 5 pointsNot present 0 points

Students who are late to class or otherwise negatively impacting the business-like environment of the class will be subjected to penalties. Like most aspects of business, there is a level of subjectivity in evaluating individual contribution. Additionally, not every student will have a chance to contribute in every class. Over the course of the semester, however, there will be ample opportunities for all students to contribute such that the individual contribution at the end of the semester will be approximately 89-90 (in line with the target GPA for the class). To allow for the active extracurricular activities of most McCombs students, the lowest two individual contribution grades for the semester will be dropped. Absences beyond two will not be excused for any reason.

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Extra Credit Research Studies (or Research Paper Option)You may participate in up to three research studies for extra credit through the Marketing Department Subject Pool. For each study you participate in, you will receive one additional quiz/team activity, with a grade of 10, when I calculate your final Quiz/Team Activity grade average.  To get three quiz/activity grades added, you must participate in three different studies. You may not participate in the same study multiple times. You will receive this credit for any Research Studies offered via the Marketing Department Subject Pool website at: http://mccombs.sona-systems.com You may go to the website and register today and you will be notified by email when the first studies are posted online. You are strongly encouraged to participate in these studies.  It is a good way to get exposed to marketing research and it is valuable to understanding marketing and consumer behavior. These opportunities are offered throughout the semester, but will end on May 2nd (or earlier), so plan ahead. Those not interested in participating in a research study may choose a research paper option (see the above website for details). Questions regarding extra credit? Email Lindsey Romeo, the Subject Pool Coordinator, at lindsey.romero@mccombs.utexas.edu. Please note that I will not have any information about your participation until after the last day of classes.

Academic IntegrityDon’t cheat in any way, shape, or form. Integrity is important in the “real world” and in the classroom. The bottom line is that I will not tolerate ANY unethical behavior and will seek out the MAXIMUM penalties for any student violating the University’s policies. Please read the “University Policies” section below for more details and links to the official policy.

Students are often confused about academic dishonesty when it comes to projects/papers. The most common confusion is with plagiarism. The basic rule to avoid plagiarism is to simply cite your sources: If it’s not your idea, then cite the source. Misunderstanding or not being aware of plagiarism will not be an acceptable excuse for cheating. You can use APA style or any other style to cite references, as long as you are consistent throughout your document. Try this link for details about APA style: http://www.lib.utexas.edu/students/citing/online/apa.html

University Policies“The McCombs School of Business has no tolerance for acts of scholastic dishonesty. The responsibilities of both students and faculty with regard to scholastic dishonesty are described in detail in the BBA Program’s Statement on Scholastic Dishonesty at http://www.mccombs.utexas.edu/BBA/Code-of-Ethics.aspx. By teaching this course, I have agreed to observe all faculty responsibilities described in that document. By enrolling in this class, you have agreed to observe all student responsibilities described in that document. If the application of the Statement on Scholastic Dishonesty to this class or its assignments is unclear in any way, it is your responsibility to ask me for clarification. Students who violate University rules on scholastic dishonesty are subject to disciplinary penalties, including the possibility of failure in the course and/or dismissal from the University. Since dishonesty harms the individual, all students, the integrity of the University, and the value of our academic brand, policies on scholastic dishonesty will be strictly enforced. You should refer to the Student Judicial Services website at http://deanofstudents.utexas.edu/sjs/ to access the official University policies and procedures on scholastic dishonesty as well as further elaboration on what constitutes scholastic dishonesty.”

Password-protected class sites will be available for all accredited courses taught at The University. Syllabi, handouts, assignments and other resources are types of information that may be available within these sites. Site activities could include exchanging e-mail, engaging in class discussions and chats, and exchanging files. In addition, class e-mail rosters will be a component of the sites. Students who do not want their names included in these electronic class rosters must restrict their directory information in the Office of the Registrar, Main Building, Room 1. For information on restricting directory information see: http://www.utexas.edu/student/registrar/catalogs/gi02-03/app/appc09.html.

Students with disabilities may request appropriate academic accommodations from the Division of Diversity and Community Engagement, Services for Students with Disabilities, 512-471-6259, http://www.utexas.edu/diversity/ddce/ssd/.

By UT Austin policy, you must notify me of your pending absence at least fourteen days prior to the date of observance of a religious holy day. If you must miss a class, an examination, a work assignment, or a project in order to observe a religious holy day, you will be given an opportunity to complete the missed work within a reasonable time after the absence.

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Principles of Marketing - Tentative Course Schedule

Date Day Topic

17-Jan W Course Overview

22-Jan M Overview of Marketing

24-Jan W Situation Analysis

29-Jan M Customer Behavior

31-Jan W Customer Behavior

5-Feb M Segmentation, Targeting, & Positioning - Part 1

7-Feb W Segmentation, Targeting, & Positioning - Part 2

12-Feb M Segmentation, Targeting, & Positioning - Part 3

14-Feb W Product - Part 1

19-Feb M Product - Part 2

21-Feb W Product - Part 3

26-Feb M Exam 1

28-Feb W Channel - Part 1

5-Mar M Channel - Part 2

7-Mar W Channel - Part 3

Spring Break

19-Mar M Promotion - Part 1

21-Mar W Promotion - Part 2

26-Mar M Promotion - Part 3

28-Mar W Promotion - Part 4

2-Apr M Exam 2

4-Apr W Pricing - Part 1

9-Apr M Pricing - Part 2

11-Apr W Pricing - Part 3

16-Apr M Customer Relationship Management (CRM)

18-Apr W CRM & Market Research

23-Apr M Market Research

25-Apr W Exam 3

30-Apr M

2-May W Course Wrap-Up

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Syllabus AcknowledgementPrinciples of Marketing - Spring 2018

By signing below, I, ______________________________, acknowledge that I have received the syllabus for the course indicated above and fully understand its contents. Specifically, I understand the objectives for this course and how my performance will be evaluated. I also understand the policies associated with class resources, grade distribution across assignments, determination of the final letter grade, exam formats, exam dates & times, pop quizzes, extra credit research studies, and academic integrity (specifically, cheating & plagiarism). I also understand that I should contact the professor or teaching assistant as soon as possible with any questions or issues regarding course contents or procedures.

By signing below, I also acknowledge that I understand the class policy regarding my use of digital information technology. Specifically, I understand that all personal digital devices (i.e., laptops, tablets, PDAs, phones, etc.) may be used in class solely to support the classroom learning objectives. Digital devices can be used to take notes, to research/provide information relevant to class discussions (assuming it does not take time and attention away from class activities), and to access class material on Canvas.

Further, I recognize that use of these technologies for personal or non-course related purposes is a distraction for me and likely for others in the class. I confirm that I will respect the learning objectives of the class and will use digital technology in a responsible, professional manner. I confirm that I will NOT use digital devices in ways that are contrary to the course policy and will accept a grade deduction of no less than 1% of my final grade average for any/every instance where I violate this policy and will not be allowed to use my devices in the future during class time.

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Signature Date