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

2. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 2 BUAD 307 MARKETING FUNDAMENTALS Instructor: Office: Office Phone: Cell: E-mail: Web: Lars Perner, Ph.D. Assistant Professor of Clinical Marketing Accounting Building 306K (213) 740-7127 (213) 304-1726 perner@marshall.usc.edu http://www.LarsPerner.com http://www.BUAD307.com http://www.ConsumerPsychologist.com Blackboard: http://blackboard.usc.eduhttp://blackboard.usc.edu

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

4. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 4 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: –Marketing Fundamentals –Consumer Behavior –International Marketing –Marketing Strategy –Intro to International Business –Channels/Distribution –Agricultural Marketing –Internet Marketing

5. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 5 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

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

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

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

9. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 9 Textbooks Jonah Berger (2013), Contagious: Why Things Catch On, Simon & Schuster, ISBN-13: 978- 1451686579. Dhruv Grewal and Michael Levy (2014), M: Marketing with ConnectPlus, 4 th ed., McGraw-Hill Irwin, ISBN-13: 9781259613708.

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

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

12. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 12 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.

13. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 13 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.

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

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

16. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 16 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

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

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

19. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 19 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

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

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

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

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

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

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

26. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 26 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.

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

28. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 28 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.

29. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 29 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

30. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 30 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

31. BUAD 307 COURSE INTRODUCTION Lars Perner, Ph.D., Instructor 31 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.