BUSI 406 Principles of Marketing Class 1Today’s AgendaCourse ObjectiveCourse GoalsWhat is Marketing Strategy Planning? Finding attractive opportunities and developing sustainable marketing strategies, and being rewarded for doing so.Class FormatOur TextbookAdditional ReadingGradingClass ParticipationSlide 11Research RequirementTeam Written AssignmentsTeam Class Project/PresentationA Quick Word On Teams…ExamsSlide 17Slide 18UNC Honor CodeSchedule of Course AssignmentsWhat is Marketing?Marketing’s Goal is to Identify Opportunities, Provide Goods and Services that Exceed Customer Expectations and Create Customer Satisfaction, and to be Rewarded Financially for Doing SoWhy Companies Care About Satisfied Customers?Why Companies Care About Dissatisfied Customers?Losing A Customer Can Be Expensive over the Lifetime Value of a Customer!Losing A Customer Can Be Expensive!Slide 27Is Marketing Important to YOU?Today’s Take-AwaysFor Next Class…BUSI 406PRINCIPLES OF MARKETINGCLASS 1Today’s AgendaReview class syllabusDiscuss:What is Marketing?Why is Marketing important?Who does Marketing?Course ObjectiveTo provide a broad overview of marketing, with a focus on:Key marketing conceptsThe role of marketing in society and the firmFactors that influence marketing decision makingLearning the “language of marketing”Marketing strategy planningCourse GoalsBy the end of the course, you will understand:How to make major marketing decisionsHow to apply key frameworks and tools to analyze customers, competition and company’s strengths and weaknesses (3C’s SWOT)How to select target marketsHow to make decisions related to product, price, promotions, and place to meet the needs of a target market (4Ps)Marketing Strategy PlanningWhat is Marketing Strategy Planning? Finding attractive opportunities and developing sustainable marketing strategies, and being rewarded for doing so.Marketing Strategy Planning involves:3C’s: Company, customers, competitors SWOT analysisMarketing Strategy: Specifying a target market and a related marketing mixTarget Market: a fairly homogenous group of customers to whom a company wishes to appealMarketing Mix: the controllable variables (4 P’s) the company puts together to serve this target groupProductPlacePricePromotion and communicationPro forma Budget: A plan without a budget is not a plan, show me the numbers, expected revenues against expected expenses, plus other outcome metricsClass FormatLecturesClass DiscussionsQuestion & AnswerCase DiscussionCurrent Event ArticlesVideosGuest SpeakersClass is ONLY AS GOOD as YOU MAKE IT!!Our TextbookTitle: Essentials of MarketingAuthors: William D. Perreault, Jr., Joseph P. Cannon, and E. Jerome McCarthyEdition: 14thAvailable at UNC Bookstore and elsewhereAdditional ReadingCases are in the back of your textbookCurrent Press ArticlesSome articles will be assigned to be read for homework – they will be posted on the KFBS L driveIt is important that you read the assigned readings thoroughly before coming to class!GradingCourse Component% of Course GradeClass Participation 10%Research Requirement 5%Three Written Case Assignments (5% Each)15%Class Project/Presentation (Project 15% and Presentation 5%)20%Exams(First Exam 10%, Second Exam 15%, and Final Exam 25%)50%Total 100%Class ParticipationIt is important that you come to class prepared!I encourage you to actively participate in class discussions.There are no wrong answers. There are no stupid questions. Participate!I want everyone to be involved in class discussion!!!Kenan-Flagler marketing classes are participation sports, not spectator sports!Class ParticipationAll constructive participation will be rewarded in your final grade.Evaluating class participation:Is the participant a good listener? Is there a willingness to participate?Are the points made--or questions raised--relevant to the discussion?Do comments show evidence of thorough analysis of the assignment?Overall, do comments contribute to our understanding of the discussion? Do they move the class forward?Research Requirement3 hours of academic research participation is required of all students enrolled in BUSI 406Two ways to complete this requirement:Participate in 3 hours of academic marketing researchWrite 3 two-page summaries/critiques of academic marketing articles“Research Requirement Information” Handout will be distributedMore information to follow in the coming weeks…Team Written AssignmentsThere will be 3 case assignments due throughout the semester.All three are team case analyses.2 typed page max double-spaced plus exhibits - please respect this page limit, and use 12 point fontWrite-ups should reflect your team’s thinking and key ideas about the case, not just a summary of the "facts" presented in the case.Will discuss the assignment in classTeam Class Project/PresentationAt the end of the term, your team will be asked to submit a comprehensive marketing strategy plan to start or improve a business/ nonprofit/ campus organization and present your marketing strategy plan to the class.Written Marketing Strategy Plan- up to 5 pages, plus exhibitsPresentation - 10 minutes max, including Q & APowerPoint or other presentation methodA Quick Word On Teams…Next week, I will assign you to your team. Teams will consist of 4 to 5 members. With your team, you will complete the three team written assignments as well as the team class project and presentation.Please be a good team member! Your team is only as strong as you make it!ExamsThere will be two mid-term exams and one final exam.All exams are closed book, closed notes exams.Exams will consist of multiple-choice questions as well as a few short answer/essay questions.  You will be asked to pick the best answer. However, if you think that a question is ambiguous or that more than one answer is appropriate, you can write a brief explanation of your logic and answer. You will be given credit if your explanation reveals your understanding.ExamsAll course material is fair game! This means that material from class discussions, the textbook, and supplemental readings will appear on the exams. The exams will focus on material we cover in class prior to the exam. For example, the focus of the Second Exam will be