WELCOME TO MARKETING FUNDAMENTALS BUAD 307 BUAD 307

WELCOME TO MARKETING FUNDAMENTALS (BUAD 307)! BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 1

BUAD 307 MARKETING FUNDAMENTALS Instructor: Office Phone: Cell: E-mail: Web: BUAD 307 Lars Perner, Ph. D. Assistant Professor of Clinical Marketing Accounting Building 306 K (213) 740 -7127 (213) 304 -1726 perner@marshall. usc. edu http: //www. Lars. Perner. com http: //www. BUAD 307. com http: //www. Consumer. Psychologist. com Blackboard: http: //blackboard. usc. edu COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 2

Why does Tony the Tiger wear a scarf? BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 3

About the Instructor: Lars Perner • Ph. D. , Marshall School of Business, University of Southern California, 1998 • Returned to Marshall in 2006 after teaching at the University of Maryland, George Washington University, U. C. Riverside, San Diego State University • Courses taught: – – – – BUAD 307 Marketing Fundamentals Consumer Behavior International Marketing Strategy Intro to International Business Channels/Distribution Agricultural Marketing Internet Marketing COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 4

About the Instructor: Lars Perner • Research interests: – – – – – Consumer Behavior International Marketing Consumer Price Response Consumer Bargain Hunting Branding Corporate Philanthropy Non-Profit Marketing “Win-win” Deals Autism Spectrum Disorders and Subtypes • Country of birth: Denmark • Selected outside involvement – Marketing Educators’ Association – Autism Society of America BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 5

BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 6

About the Instructor: Hobbies and Interests • • With my sisters BUAD 307 Gardening Music Spicy foods Supreme Court oral arguments • Computers and technology COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 7

Course Web Site BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 8

Textbooks Dhruv Grewal and Michael Levy (2014), M: Marketing with Connect. Plus, 4 th ed. , Mc. Graw-Hill Irwin, ISBN-13: 9781259613708. BUAD 307 Jonah Berger (2013), Contagious: Why Things Catch On, Simon & Schuster, ISBN-13: 9781451686579. COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 9

Grading BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 10

BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 11

Grading Issues • Course grades are assigned based on the total number of points accumulated. LETTER GRADES WILL NOT BE ASSIGNED TO PROJECTS OR EXAMS ALONE (see syllabus). • Marshall competition is very intense. • Not everyone can be “above average. ” Some will be below. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 12

More Grading Issues • Extra credit cannot be assigned. • Grading is based on performance, not real or perceived effort put in. It is NOT assumed that you start out as “perfect” and have “points taken off” for deficiencies. A perfect score takes a nearly superhuman person! • Final grades can generally only be changed to correct mistakes in arithmetic, Scantron misreads, or data entry that have been made. Work quality or cut-offs cannot be re-evaluated under the USC grade change policy. • For more information on grading, please see Appendix A of the course syllabus. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 13

Class Meetings and Office Hours BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 14

The Near Future… BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 15

Course Objectives • • Apply fundamental marketing terms, concepts, principles, and theories and their effective applications to real-world situations in a global market. Describe how the marketing function is organized and fits into an organization, including the relationships between marketing issues and those of other business disciplines. Make effective marketing decisions in real world settings using critical thinking skills. Effectively communicate marketing analysis Effectively collaborate to analyze marketing options Identify and make judgments about questionable marketing practices by applying an ethical decision framework. Identify and evaluate the advantages, disadvantages, opportunities, and tradeoffs involved in different marketing strategies and choices Address the dual roles of formal analysis and creativity in designing and implementing effective marketing programs BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 16

FEEDBACK FROM EMPLOYERS EMPHASIZES CRITICAL THINKING BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 17

THE REAL WORLD IS A MESSY PLACE! Context and dynamics are important! BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 18

The Socratic Method • Used in law schools • Learning by induction—developing general ideas by examining specific cases • Development of analytical skills • Research shows that learning tends to be enhanced when information is acquired through thinking about and answering questions BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 19

Course Philosophy • Application to needs of real firms rather than memorization • Broad overview of marketing • Assignments require individual initiative and thinking BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 20

Pointers on Doing Well in This Class BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 21

WARNING! • Beware of relying on Power. Point printouts! • Psychological research shows that comprehension and memory suffer if you do not take notes in your own hand. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 22

BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 23

Some Topics Covered In This Course • • • Creating customer value Marketing Strategy Ethics and Social Responsibility Marketing Research Consumer Behavior International Marketing BUAD 307 • Segmentation, Targeting, and Positioning • The Marketing Mix – Product – Price – Promotion – Distribution (“Place”) • Electronic Commerce COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 24

PROJECT PRODUCT OR SERVICE OR OR TARGET MARKET FOR AN EXISTING TYPE OF PRODUCT BUAD 307 NEW OR COURSE INTRODUCTION CHANNEL FOR DISTRIBUTING AN EXISTING PRODUCT OR SERVICE “TRANSPLANTED” FROM ONE COUNTRY TO ANOTHER Lars Perner, Ph. D. , Instructor 25

Course Project • Please choose: – A new product or service not currently in existence; – An existing product or service that has potential to be targeted to a segment or type of consumers that currently does not use the product at potential – An existing product or service that could achieve significant additional sales if distributed through a new channel; or – An existing product that is sold in one or more countries and can be introduced in another specific country where it is currently not widely used. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 26

Project Structure • • Proposal Office visit to discuss the proposal Secondary Market Research Applications Paper BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 27

Examples: A New Product or Service • Auto GPS system that offers the “least stressful” route as one of options • Car with built-in mini-safe • Bathroom water collector for garden re-use • Secular values training and leadership programs for children of busy parents not involved in organized religion • Feature added to a firm’s existing app This does not have to be an entirely new product category. Adding a new feature or making alterations to a product category qualifies if this is likely to be of value to some customers. Even new specific shade of lipstick qualifies. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 28

Examples: Existing Product For New Target Market • Video games marketed to senior citizens (who want to preserve mental agility and/or play with their grandchildren) • Noise cancelling headphones for children vulnerable to distraction • Attracting a new type of student (e. g. , “geeks”) to a fraternity or sorority • Attracting under-represented groups (e. g. , Filipino Americans) to USC BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 29

Examples: Existing Product With Potential Through New Distribution Channel • Fresh bagels delivered to customers’ homes on week-ends • Produce trucks to “food desserts” • Financial planning programs sold through churches, synagogues, or mosques • Airport manicure tables • Inkjet printer cartridges sold through Greek houses • Groceries being delivered to car pool or van pool departure sites • New merchandise sections in college bookstores that no longer need as much space for textbooks BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 30

Examples: Existing Product for a New Country • • Fortune cookies (which are actually not used in Mainland China) U. S. fast food chains abroad Foreign fast food chains in the U. S. Brazilian Natura cosmetics introduced to the U. S. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph. D. , Instructor 31