This course provides an overview on essential perspectives of marketing and how marketing adds value to a business. It will teach concepts, frameworks and methods for marketing decision making. The course will also look at issues related to marketing implementation. Thereby, a particular focus will be on how data and data analytics can help to support marketers in their decision making.
Learning objective
After taking the class, students will be able to
1) Understand how marketing adds value to a business. 2) Provide an overview of key concepts in marketing that are applicable to any business. 3) Understand how consumers behave and how this impacts marketing 4) Learn how analytics and quantitive methods can help to improve decision making in marketing. 5) Get to know the elements that shape a firm’s marketing strategy (segmentation, targeting, positioning) and marketing tactics (product, price, promotion, place)
Content
The 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. Specifically, the course is aims to provide students with a) an overview on the role of marketing within a business, b) details on strategic marketing management decisions and tools, c) a profound knowledge on the individual elements of the marketing mix (product, price, promotion, place), d) an awareness of specific contexts of marketing, and e) first-hand experience on data-driven techniques to support marketers' decision making. Thus, this course will introduce key analytical tools to help solving respective managerial tasks. This is a lecture with integrated exercises. Access to a laptop is required for the exercises. The the class might be thought in an in-person, remote or in a hybrid format. Students might also be taught via pre-recorded videos and assigned material for self-study.
Literature
Kotler, 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.