Instructor Sarah Suneel Sarfraz Room No. 422 Office Hours Email Sarah.sarfraz@lums.edu.pk Telephone Secretary/TA Nabeela shahzadi TA Office Hours Course URL (if any) suraj.lums.edu.pk MKTG 201 Principles of Marketing Fall Semester 2017 COURSE BASICS Credit Hours 3 Lecture(s) Nbr of Lec(s) Per Week 2 Duration 75 Recitation/Lab (per week) Nbr of Lec(s) Per Week Duration Tutorial (per week) Nbr of Lec(s) Per Week Duration COURSE DISTRIBUTION Core Elective Open for Student Category Close for Student Category Yes Sophomore, juniors, seniors Freshmen COURSE DESCRIPTION This course aims to introduce fundamental concepts related to consumption marketplace (eg. Market types, competitive landscape) and marketing tools (eg. STP, marketing mix). Through this course, students will learn to apply marketing related theoretical knowledge to analyze existing marketplace problems and propose solutions. This course will enhance students problem solving and decision making abilities towards Marketing related issues using customer centric approach. The course covers the following modules: Module 1: Marketing Fundamentals Module 2: Markets and Environment Module 3: Customer Driven Marketing Strategy and Marketing Mix Decisions Module 4: Marketing Practices and Ethics COURSE PREREQUISITE(S) None
COURSE LEARNING OBJECTIVES The course is designed to give students a broad overview of marketing principles by giving them an opportunity to think marketing and to critically observe marketing landscape around them.. Specifically, it aims to help students: 1. Understand why marketing is important 2. Develop and in depth understanding of fundamental marketing concepts, strategies and tools 3. Develop an analytical approach for marketing issues in the local landscape LEARNING OUTCOMES Successful completion of the course means students are able to; 1. Understand the relevance of marketing to practical situations 2. Critically analyze marketing problems and suggest relevant workable solutions 1. Develop new marketing ideas relevant to local culture. UNDERGRADUATE PROGRAM LEARNING GOALS & OBJECTIVES General Learning Goals & Objectives Goal 1 Effective Written and Oral Communication Objective: Students will demonstrate effective writing and oral communication skills Goal 2 Ethical Understanding and Reasoning Objective: Students will demonstrate that they are able to identify and address ethical issues in an organizational context. Goal 3 Analytical Thinking and Problem Solving Skills Objective: Students will demonstrate that they are able to identify key problems and generate viable solutions. Goal 4 Application of Information Technology Objective: Students will demonstrate that they are able to use current technologies in business and management context. Goal 5 Teamwork in Diverse and Multicultural Environments Objective: Students will demonstrate that they are able to work effectively in diverse environments. Goal 6 Understanding Organizational Ecosystems Objective: Students will demonstrate that they have an understanding of Economic, Political, Regulatory, Legal, Technological, and Social environment of organizations. Major Specific Learning Goals & Objectives Goal 7 (a) Discipline Specific Knowledge and Understanding Objective: Students will demonstrate knowledge of key business disciplines and how they interact including application to real world situations (Including subject knowledge). Goal 7 (b) Understanding the science behind the decision making process (for MGS Majors) Objective: Students will demonstrate ability to analyze a business problem, design and apply appropriate decision support tools, interpret results and make meaningful recommendations to support the decision maker Indicate below how the course learning objectives specifically relate to any program learning goals and objectives. PROGRAM LEARNING GOALS AND OBJECTIVES Goal 1 Effective Written and Oral Communication COURSE LEARNING OBJECTIVES Oral: Students are supposed to actively participate in the class and deliver professional oral presentation. Written: Students submit two different reports that involve substantial level of writing COURSE ASSESSMENT ITEM Class Participation and Projects
Goal 2 Ethical Understanding and Reasoning Ethical considerations will specifically be discussed in some sessions (i.e. 1, 18,19, 20, and 23) Quizzes and Exam Goal 3 Analytical Thinking and Problem Solving Skills Goal 4 Application of Information Technology Goal 5 Teamwork in Diverse and Multicultural Environments Goal 6 Understanding Organizational Ecosystems Goal 7 (a) Discipline Specific Knowledge and Understanding Goal 7 (b) Understanding the science behind the decision making process Students polish this skills via developing new product launch program and by conducting research report product category analysis N/A The course lays strong emphasis on team work by getting them involved in two different projects Few sessions are dedicated to understand the role of marketing in organizational ecosystems (i.e. 1, 2, 6, 21, and 22) Exhaustive coverage of important marketing topics This course focuses on how decision marketing decision making takes places in different type of markets (7, 8, and 9) and how different marketing tools influence these decision makers. Projects Projects Quizzes, Exam Class participation, Quizzes, Exams Class participation, Quizzes and Exam GRADING BREAKUP AND POLICY Quiz(s): 20% (4 5 announced quizzes with n 1 format, missing quiz will be considered as the lowest grade, no makeup quizzes! Class Participation: 20% Attendance: 5% (N 3) Maximum 7 absences are allowed after which the student will get an F. Project: 25% Final Examination: 30% EXAMINATION DETAIL Midterm Exam No Final Exam Yes Duration: 2 hours Exam Specifications:
COURSE OVERVIEW LECTURE TOPICS RECOMMENDED READINGS OBJECTIVES/ APPLICATION Module 1: Marketing Fundamentals 1 Course Introduction & Defining Marketing 2 Developing a Marketing department 3 Marketing Strategy and Marketing Mix overview Chapter 1 Chapter 2 Chapter 3 Introduction to the course and Marketing (CLO # 2) Understanding the value addition that a functional marketing department can add to organizational dynamics (CLO # 2, 4) A brief holistic introduction to marketing elements which will subsequently be discussed in detail. (CLO # 2,3) Module 2: Markets and Environment 4 Analyzing the Marketing Environment Chapter 4 Analyzing micro and macro (PLEST analysis) environments (CLO # 1) 5 Marketing Information and Customer Insights Chapter 5 Understanding how to listen to customers voice (CLO # 1,2,3) 6 Consumer Markets Chapter 5 Introduction to consumer consumption marketplace (CLO # 1) 7 Consumer Buying Behavior Chapter 6 Understanding Consumer power. (CLO # 1,2, 4) 8 Business Buyer Behavior Chapter 7 Industrial markets (B2B Markets) (CLO # 1, 2) 9 Business Buyer Behavior Chapter 7 Industrial markets (B2B Markets) (CLO # 1, 2) Module 3: Customer Driven Marketing Strategy and Marketing Mix Decisions 10 11 Customer Driven Marketing Strategy Chapter 8 Introducing STP (Segmentation, Targeting and Positioning) (CLO # 2, 3) Products and Services Chapter 9 To understand what are products/services and their relations to consumer needs (CLO # 2, 3) 12 Product Strategies Chapter 9 To understand the role of Test Marketing for new production and the evolution of
strategy over a Product Life Cycle (CLO # 2, 3) 13 14 Pricing Strategies Chapter 10 Introduction to important pricing concepts (CLO # 2, 3) Pricing Strategies Chapter 11 To understand how pricing decisions are adapted to situations (CLO # 2, 3) 15 Pricing Strategies Chapter 11 To understand how pricing decisions are adapted to situations (CLO # 2, 3) 16 Market Channels Chapter 12 Introducing distribution (CLO # 2, 3) Chapter 13 17 IMC: Promotion Mix Chapter 14 Introducing promotion (CLO # 2, 3) 18 IMC: Advertising & PR Chapter 15 To understand the most familiar IMC tool i.e. advertising (CLO # 2, 3) 19 IMC: Personal Selling & Sales Promotion Module 4: Marketing Practices and Ethics Chapter 16 To understand what are sales function and how they function differently from marketing (CLO # 2, 3) 20 Creating Competitive Advantage Chapter 18 21 Social Responsibility and Ethics Chapter 20 To understand how competitive pressures changes market situations and often force taking tough decisions (CLO # 1, 2, 4) To appreciate that long term marketing is not without ethical considerations(clo # 2, 4) 22, 23, 24, 25,26 Class Choice and Presentations (CLO # 2, 3) TEXTBOOK(S)/SUPPLEMENTARY READINGS The instructor will use the following text book in the class: Kotler, P., Armstrong, G., Agnihotri, P.Y. and Haque E. (2010). Principles of Marketing A South Asian Perspective, 13th edition, ISBN: 978 0 13 607941 5