363-0403-00L  Introduction to Marketing

SemesterAutumn Semester 2021
LecturersS. Brüggemann, F. von Wangenheim
Periodicityyearly recurring course
Language of instructionEnglish

AbstractStudents who take this course will increase their knowledge of marketing, its effect on consumer behavior and its role in creating long-term value. The course will introduce important concepts, frameworks and methods for marketing decision-making. A focus will be on managing customer relationships with the help of targeted promotions and data collected through digital technologies.
ObjectiveAfter taking the class, students will be able to

1) Define what marketing is and describe its role at different stages of the value chain
2) Apply psychological theories to analyze behavior (e.g., purchase behavior) and identify the needs of (prospective) customers in consumer and business markets
3) Design elements of the marketing mix—e.g., develop new products and set prices—in a way that creates long-term value
4) Create an effective and efficient marketing mix that attracts and engages customers, e.g., by running targeted promotions
5) Use quantitative methods and customer data to manage relationships with customers
ContentThe class will center on the importance of marketing as an activity that creates long-term value for the benefit of organizations and their customers. It will teach concepts, frameworks and methods for marketing decision making.

The structure of the course will roughly follow the different steps of the value chain, i.e., the set of activities necessary for offering valuable products to customers. First, it will introduce students to psychological theories that help explain behavior, e.g., purchase behavior. It will also familiarize students with different methods from marketing research, which can be used to identify the needs of customers. Next, the course will look at the role of the marketing mix in satisfying customer needs. For example, the class will cover new product development and pricing. A focus will be on managing profitable, long-term relationships with customers. To this end, students will gain in-depth knowledge on the use of targeted promotions and marketing data to (1) attract, (2) convert and engage and (3) retain customers.

The course is designed to be “hands-on”, with opportunities to apply skills on business cases involving real-world marketing data. It will feature guest lectures from industry experts.
The class might be taught in an in-person, remote or in a hybrid format.
LiteratureKotler, Philip and Gary Amstrong (2021). Principles of Marketing (18th Global Edition), Pearson. ISBN-13: 9781292341132.

The course might comprise mandatory and supplemental reading material. Other literature may be assigned in class.
Fostered competenciesFostered competencies
Subject-specific CompetenciesConcepts and Theoriesassessed
Techniques and Technologiesassessed
Method-specific CompetenciesAnalytical Competenciesassessed
Media and Digital Technologiesassessed
Project Managementnot assessed
Social CompetenciesCommunicationnot assessed
Cooperation and Teamworknot assessed
Leadership and Responsibilitynot assessed
Self-presentation and Social Influence not assessed
Negotiationnot assessed
Personal CompetenciesCreative Thinkingnot assessed
Critical Thinkingnot assessed
Self-direction and Self-management not assessed