Principles of Marketing (Tuck 002)
Marketing is the business function that deals with customers' needs and wants. The role of marketing management is to help companies better understand customer preferences, link that knowledge to designing appropriate products and services for selected customers, and determine appropriate methods to communicate, to deliver, and to capture value.
Successful firms are those that pursue objectives, employ resources, and invest in the future of an organization, to consistently satisfy the needs of customers better than competitors. These ideas apply to both for-profit and not-for-profit organizations.
The objectives of the course are:
- To introduce you to the key elements in developing a marketing strategy and planning a marketing program. We will cover topics such as customer segmentation, positioning, branding, consumer research, pricing, marketing communications, new product development, and channel strategy.
- To enhance your problem-solving abilities in operational areas of marketing by providing you with a set of analytical tools (i.e., frameworks, concepts, models, and techniques).
- To present examples of how firms organize their marketing efforts across a broad range of industries and settings (e.g., consumer packaged goods, pharmaceutical, telecommunications, financial services, and nonprofit organizations).
- To provide you with a forum (both oral and written) for presenting and defending your own recommendations, and for critically examining others' recommendations.
To accomplish these objectives, we will use a combination of lectures, case studies, exercises, readings and computer simulations to stimulate and reinforce learning. Since teamwork skills are essential to managerial decision-making, a significant portion of the grades will depend on group assignments. The rest of the grades will be based on classroom participation, individual exercises, and a final exam.
The course is open only to seniors, juniors and sophomores. Registration priority is given to students by class year, seniors having the highest priority. The course is not eligible for the Non-Recording Option.
The textbook used for the course will be Marketing Management by Kotler and Keller, 14th edition. Coursepacks will be available through Wheelock Books and a copy of the textbook and coursepack will be placed on reserve at Baker Library.