Welcome to

 

MKTG 327 - Marketing Principles

 

WIU College of Business and Technology

Accredited by AACSB, The International Association for Management Education

Summer 2001

 

Instructor:             Dr. John T. Drea, Associate Professor of Marketing

Office:                           430-E Stipes (4th Floor, near NE corner of Stipes)

Telephone:            298-1272 (no answer? Leave a message or call 298-1198 to speak to the departmental secretaries)

E-mail:                 jt-drea@wiu.edu

Home Page:           www.cbt.wiu.edu/John_Drea/index.htm

Office Hours:                  <!--mstheme-->MWFMTWH 8:05-8:20 a.m., 10:40-11:00 a.m., and by appointment

Meeting Time:       MTWH 8:30-10:40 am

Location:               ST 225

 

COBT Mission

The Mission of the College of Business and Technology at Western Illinois University is to provide a focus for educational excellence that promotes the intellectual and personal growth of participants and enhances their contributions to individuals, organizations, and society.

 

Course Description:

A general examination of the basic elements of the marketing function.  Such elements include the development, pricing, promotion, and distribution of goods and services studied in the framework of strategic and tactical decision making by marketing managers as applied to business and non-business organizations.

 

Credits:

3 semester hours

 

Text:

Perreault, William D., Jr., and E. Jerome McCarthy (1999). Basic Marketing, 13th Edition. Chicago: Richard D. Irwin.

 


Course Goals:

Upon completion of this course, the student should be able to:

1.              Define the term "marketing."

2.              Explain the role of marketing within business and within society.

3.              Describe the importance of marketing for profit and not-for-profit organizations.

4.              Describe five different ways of segmenting a market.

5.              Outline a process for using segmentation to identify marketing opportunities.

6.              Explain overall consumer behavior using cognitive and behavioral approaches.

7.              Identify key participants in an organizational buyer situation.

8.              Describe the "4 Ps of marketing."

9.              Describe the "marketing concept" and its relationship to business operations as a whole.

10.           Explain why industry structure and the concept of a sustainable competitive advantage are keys to profitability.

11.           Describe a product planning process, including procedures for screening and evaluating new product ideas.

12.           Describe the functions involved in physical distribution.

13.           Describe the relationship between physical distribution and customer service.

14.           Describe the functions that can be performed by wholesalers and the reasons for including wholesalers in a channel of distribution.

15.           Select the most appropriate type of wholesaler for a given situation.

16.           Describe the "wheel of retailing" and provide an example.

17.           Define six different categories of retailers, and describe the way each attempts to create value for the consumer.

18.           List the six steps of the sales process.

19.           Demonstrate how to correctly handle objections in a sales situation.

20.           Describe appropriate situations and uses for the following advertising media:

a.   newspapers

b.  television

c.   radio

d.  outdoor

e.   direct mail

f.      magazines

21.     Calculate:

a.     break-even point and response rate for a direct-mail campaign

b.     stockturn rate

c.     markups and markdowns

d.     sales performance analysis

e.     cost per thousand

22.    Explain the use of the following pricing procedures to set prices:  cost-plus, target return, status-quo, market share, profit maximization, skimming, and penetration.

23.    Describe a process for controlling the marketing operation.

 

Course Outline (Note that dates are subject to change with notice in class)

Week

Date

Assignment

1

7/2

Review Syllabus, Read Chapter 1: Marketing's Role in the Global Economy

 

7/3

Read Chapter 3: Focusing Market Strategy with Segmentation & Positioning

 

7/5

Quiz #1: Chapter 3, Read Chapter 4: Evaluating Opportunities in the Changing Marketing Environment

 

7/6

Read Chapter 6: Behavioral Dimensions of the Consumer Market

2

7/9

Quiz #2: Chapter 6, Read Chapter 7: Business & Organizational Customers and Their Buying Behavior

 

7/10

EXAM #1, Chapters 1, 3, 4, 6, 7, Read Chapter 8: Improving Decisions with Marketing Information

 

7/11

Quiz #3: Chapter 8, Read Chapter 9: Elements of Product Planning for Goods and Services

 

7/12

Quiz #4: Chapter 9, Read Chapter 11: Place and Development of Channel Systems

 

7/13

Quiz #5: Chapter 11, Read Chapter 13: Retailers, Wholesalers, and Their Strategy Planning

3

7/16

EXAM #2, Chapters 8, 9, 11, and 13, Read Chapter 14: Promotion - Introduction to Integrated Marketing Communications

 

7/17

Quiz #6: Chapter 14, Read Chapter 15: Personal Selling

 

7/18

Quiz #7: Chapter 15, Read Chapter 16: Advertising and Sales Promotion

 

7/19

Read Chapter 16: Advertising and Sales Promotion (continued)

 

7/20

EXAM #3, Chapters 14, 15, 16, Read Chapter 17: Pricing Objectives and Policies

4

7/23

Quiz #8: Chapter 17, Read Chapter 19: Implementing and Controlling Marketing Plans: Evolution and Revolution

 

7/24

Quiz #9: Chapter 19, Project Due: Marketing Yourself, Read Chapter 20: Implementing and Controlling Marketing Plans

 

7/25

Quiz #10: Chapter 20, Read Chapter 21: Developing Innovative Marketing Plans

 

7/26

Marketing Math In-Class Assessment,

Comprehensive Quiz  (Chapters 1, 3-4, 6-9, 11, 13-17, 19-21)

 

7/27

EXAM #4, Chapters 17, 19-21

 

 

Related Class Information - Please Read the Following Information Carefully:

 


Participation and Attendance: You are expected to attend each class.  It is important to remember that class participation is a determinant of the course grade, and attendance is a pre-requisite for participation. If you are absent, you cannot participate, which will further lower your course grade.  Participation, however, is more than simply coming to class.  Participation is actively participating in class discussions, asking questions and making comments that show a good basic knowledge of the material.  To get the maximum number of participation points, you should be in class and actively participate every day.  A student who attends every class but rarely participates (less than once per week) should anticipate receiving less than 75% of the participation points.

 

Reading Assignments: All reading assignments for the semester are listed in the course outline.  You are expected to have read the assignments prior to the class meeting, since the discussion in class will assume that you are knowledgeable of the material.

 

Notes:  I have placed the majority of the overheads used in this class on my web site.  They can be found at:

www.cbt.wiu.edu/John_Drea/index.htm

 

Click the button for “Notes for MKTG 327.”  You will need to have either Microsoft PowerPoint installed or be able to read PowerPoint files (using Internet Explorer should also do the trick).  I periodically update or enhance these files during the semester – thus, it is advisable to print these slides as you need them, not all at once at the beginning of the semester.

 

One of the primary reasons I put the notes on the web site is so you may print them out and bring them with you to class.  This should allow you to spend less time taking notes and more time listening, taking notes on details of discussions, and participating in class.  However, these notes are not everything you will need from class – you will still need to attend class and take notes, elaborating on points covered in class.  I frequently ask exam questions based on topics we have discussed in class, but for which the answers cannot be drawn directly from the text or the web site notes.  From past experience in other courses, I have learned that one of the behaviors which separates A, B, and C students from the D and F students is participating and taking notes in class beyond what is on the web site.

 

Examinations: There are four regular examinations scheduled throughout the semester.  There are normally no make-up examinations.  The only exception to this involves students absent for participation in university-sponsored activities (e.g., intercollegiate athletics, cheer leading, required out-of-town conferences) that conflict with the scheduled examinations.  In this case, your organization (e.g., a coach) must notify me in writing within the first week of the semester, and I will make alternative arrangements for you.  An unexcused absence for an examination will result in a grade of "0" for the missed examination.

 

Quizzes:  A total of ten (10) quizzes will be given throughout the semester, with the nine highest scores counted.  These quizzes address material exclusively from the text, with each quiz consisting of ten (10) multiple-choice questions.  The purpose of the quizzes is to make sure you are keeping up on the required reading, and that you understand the material from your reading.  Quizzes are given at the start of the class session.  As a result, it is important that you are on time for class, especially on the days a quiz is scheduled. 

 

If you are planning on being absent on a day when a quiz is scheduled, you should be aware that make-up quizzes are not typically offered.  (Remember, you can drop one quiz score during the semester.)  I try to stay close to the schedule of quiz dates presented here, so check them carefully early in the semester.  CHECK THESE DATES CAREFULLY!  If you cannot make the commitment to be present on quiz (and exam) dates, you may wish to consider dropping this section of the course.  If you are absent on the day of a quiz, a grade of zero may be given for the quiz.

 

No make-up quizzes will be given, unless the absence is for participation in university-sponsored activities (e.g., intercollegiate athletics, cheer leading, required out-of-town conferences) which conflict with the scheduled quiz date.  In this case, your organization must notify me in writing within the first week of the semester, and I will make alternative arrangements for you.

 


Comprehensive Quiz: During the last week of the semester, you will the opportunity to replace your four lowest quiz scores with the score of a 40-point comprehensive quiz.  This is a good opportunity for you to improve your grade by demonstrating what you’ve learned during the semester! However, if your score on the comprehensive quiz is lower than the total of your four lowest quiz scores, it will not affect your total quiz points (i.e., taking the comprehensive quiz can only help your grade.)  Preparing to take the comprehensive quiz should also help in your preparation for the comprehensive final exam.

 

Example:       Assume you had the following scores for your 10 quizzes: 7, 10, 9, 6, 5, 10, 9, 8, 7, and 6.  Before the comprehensive quiz, you would drop the lowest score (a 5), which would leave you with 72 quiz points.  If you took the comprehensive quiz and scored a 36 (out of 40), the 36 would replace the sum of your four remaining lowest quiz scores (6+6+7+7=26).  Thus, your total quiz points for the semester would be 82 (8, 10, 9, 10, 9, and 36).  If your comprehensive quiz was a 24 out of 40, the comprehensive quiz score would be less than your four lowest quiz scores, so your total quiz points would remain the same (i.e., 72.)

 

Project: Each student is required to complete a marketing project, Marketing Yourself, which will be distributed during class.  Follow the instructions in the assignment carefully, and be sure to be neat in your work.  The project should be prepared on a word processor and either stapled or in a folder (no loose pages, papers bent over at the corners, or paperclips).  Sloppy work (misspellings, typos, poor grammar, printing errors, hand corrections) will result in a significantly lower grade.

 

A late assignment will be accepted.  However, your grade will be reduced by five points for every 24-hour period it is late.  For example, a 30-point assignment due at 4:00 p.m. on Monday but submitted on 2:00 p.m. Tuesday would lose five points.  The same assignment submitted after 4:00 p.m. on Wednesday or before 4:00 p.m. on Thursday would be three days late, a reduction of 15 points. After six days, the assignment would automatically receive a score of zero.  An assignment due Friday by 4:00 p.m. and submitted on Monday before 4:00 p.m. would be three days late and would be reduced by 15 points.  If you know you will be unavailable on the day an assignment is due, it is your responsibility to make the necessary arrangements before the time it is due.  If the assignment is not received by the date I am required to submit course grades to the registrar, a grade of zero will be entered.

 

Marketing Math In-Class Assessment: During the last week of the semester, there will be an in-class assessment given to measure your knowledge of basic marketing computations (e.g., markups, markdowns, performance indices).  Students will be allowed full use of the text, your own course notes, and calculators in completing this assignment (since once you are working in a job, you will likely refer to your notes to make these same calculations!)  This assessment counts for 25 points towards your total course points.

 


Academic Honesty: One of the foundations of any meaningful evaluation system is that each student is accountable for his/her own work.  You are expected to do your own work.  Copying information from another on exams or assignments (or allowing someone else to copy your work), bringing unauthorized materials into a quiz/examination, writing information on table tops, or representing the work of another as your own (plagiarism) are all acts of academic dishonesty.  Such incidents can result in severe penalties, including a grade of “F” for the entire course.  If you are in doubt as to whether an action is academically honest, please see me in advance.  Failure to understand that an action is academically dishonest is not an acceptable excuse.

 

Evaluation:

The grade for the course will be determined using the following criteria:

         Criteria                                             Max. Points         Your Points

Four Examinations

         Exam #1                                   100 pts.                 _____

         Exam #2                                   100 pts.                 _____

         Exam #3                                   100 pts.                 _____

         Exam #4                                   100 pts.                 _____

Project:  Marketing Yourself                    70 pts.                   _____

Marketing Math In-Class Assessment        30 pts.                   _____

Quizzes (add the nine highest scores)

___     ___     ___     ___     ___    

___     ___     ___     ___     ___       90 pts.                 _____

Class Participation                                 30 pts.                 _____

Total                                       620 pts                  _____

 


Grading Scale:

558 points or more                      = A (100-90%)

496-557 points                           = B (89-80%)

434-495 points                           = C (79-70%)

433-372 points                           = D (69-60%)

371 points or less                        = F (59% and less)

 

Exams:

Exams will cover the chapters listed in the course outline, as well as material covered in class.  Each exam consists of a combination of 30-40 multiple-choice questions, and 1-3 short answer/essay questions.  The format for the exams will be covered in greater detail in class, and sample short answer/essay questions will be available at the review sessions to give you a better idea of what appropriate exam questions would be.

 

What If I Need Help?


If you find you are struggling, please see me as soon as possible.  WIU has many resources to help you succeed, and I will also do what I can to help you learn the material.  If you will be absent from class due to participation in athletics or other college extracurricular activities, please alert me to this early in the semester.  If you have a disability that requires special accommodation, please contact the office of disability support services.   Finally, feel free to stop by my office during scheduled hours, or see me outside of class whenever you have questions.  

 

Remember, the sooner you see me with any problems you are having, the sooner we can work together to help you master the material.  If you are having trouble, see me early in the semester and I may be able to recommend some changes in your examination preparation.  The sooner you see me, the sooner we can get you on the right track.  Unfortunately, some students wait until after three examinations to indicate they are having trouble, and at that point there is little that can be done.  Don’t wait if you are having difficulty -- come see me ASAP and I will help you if I can!