363-0403-00L Introduction to Marketing
| Semester | Herbstsemester 2020 |
| Dozierende | F. von Wangenheim |
| Periodizität | jährlich wiederkehrende Veranstaltung |
| Lehrsprache | Englisch |
| Kurzbeschreibung | Students taking this course will increase their understanding of the role of marketing in organizations and learn about measuring and quantifying customer behavior for improved marketing decision-making. |
| Lernziel | After taking the class, students are able to o Explain the role and relevance of marketing within organizations o Apply marketing concepts to problems encountered by companies o Identify and differentiate methods for measuring customer behavior o Use quantitative methods for marketing decision-making, e.g. calculating the lifetime value of a customer o Outline and explain different marketing tools for managing customer-firm relationships |
| Inhalt | Many people associate marketing with hard selling, advertising and the sales of products that are not inherently appealing to consumers. This course aims to challenge these preconceptions. Students will learn about the following topics: • Customer behavior, i.e. the decision-making processes of consumers • Marketing research, i.e. methods for gauging the factors influencing consumer decision-making • Marketing mix, i.e. promotional tools that marketers use to initiate and facilitate exchanges between consumers and companies • Online marketing, i.e. metrics to quantify the success of the marketing mix (e.g. digital marketing) • Customer relationship management, i.e. the management of customer-firm relationships over the (transactional) lifetimes of customers • Marketing analytics o Conjoint analysis, i.e. the measurement of customer preferences for different products and product attributes (e.g. used for new product development) o Customer lifetime value, i.e. a tool to assess the profitability of customer relationships (e.g. used for increasing the effectiveness and efficiency of marketing) Different teaching methods facilitate a remote learning experience: (1) Self-study activities: Students complete reading assignments and review supplemental material (2) Online quizzes: Prior to class, students participate in online quizzes that test their knowledge of the topics covered in the self-study activities (1). The quizzes provide students with feedback on their learning progress. (3) Online classes: The lecturer discusses key marketing concepts in weekly online sessions. These online sessions focus on selected content that students learn in (1) and (2). (4) Group presentation: During the online sessions, teams of students present short examples illustrating their understanding of marketing concepts learned in (1). (5) Case study: Teams of students solve a case study, which gives them the opportunity to apply newly acquired marketing knowledge and skills to real-world, practical problems occurring in marketing. (6) Exam preparation: Online videos and questions from mock exams help students to familiarize themselves with questions focused on marketing analytics, which can require calculations. This type of question can occur in the final exam. It is important to complete these exercises as part of the preparation for the final exam. |
| Literatur | Kotler, P./Armstrong, G.: Principles of Marketing, 17th edition, Pearson 2017. Weekly readings, distributed in class (via Moodle) |