PRINCIPLES OF MARKETING
Marketing is involved with the task of ethically marketing products and services in a global environment. In order to survive in the contemporary business world, organizations have to continually bring new ideas and products/services to the market – think creatively, act entrepreneurially and utilize analytical rigor. The Marketing stream of SME will examine how marketers can recognize and utilize changes in the political, economic, social, and technological environments to identify and target opportunities; how to develop and communicate value propositions; and how to develop successful marketing strategies. These strategies will emphasize market analysis and the Four Ps (product, pricing, place, and promotion). Students will also be introduced to the analytical tools and methods crucial to understanding the role of these variables in achieving marketing goals and reaching performance metrics. This stream will also explore issues associated with: social media, marketing research and marketing analytics, buying behavior, market segmentation, branding, retailing, value-based pricing, advertising, sales, and other marketing topics as they are applied to the management of marketing goods and services. Methods of instruction will include lecture, discussion, experiential (involvement) learning, integrative teaching, simulations, and case analysis. Methods of assessment will include: quizzes, presentations, exams and participation. The material and the various methods of instructions are guided by Babson’s learning goals. The marketing stream of SME will primarily integrate with Managing Technology and Information Systems. There will be a joint social media related project and presentation
3 credit intermediate management
The sophomore management experience MKT and IT module (SME) integrates two subject streams: Marketing (3 credits) and Managing Technology and Information Systems (3 credits). This module focuses on helping students develop an understanding of the marketplace and the role of informational data bases, marketing research and marketing analytics in adding this understanding. The two streams highlight the role of marketing and information technology interface in a variety of contexts to enhance the effectiveness of business strategies. Businesses are actively using social media, mobile and online to market their products and services. The two streams will jointly highlight the importance of these information technology advancements in enabling businesses (and marketers) to better serve their customers. SME will also provide learning experiences that demonstrate the interconnections between the streams.
Services Marketing helps prepare students to function as effective marketers in a services economy by becoming more aware of the nature and characteristics of services. Students completing the course will have knowledge about service quality, the foundation of services marketing, and understand the success factors in services marketing.
This course is typically offered in the following semester: Fall
Brand Management is an advanced marketing course that will prepare students to lead a brand-centered marketing team in the consumer products/services arena. The emphasis in the course is on marketing plans and day-to-day decision-making. Marketing decisions are usually made in a context of imperfect information, decision models that combine analysis with judgment, and a marketplace that is fast-changing. The course will prepare students to operate successfully in this real world environment. The concept of "brand equity" will be a unifying theme throughout.
This course is typically offered in the following semesters: Fall and Spring
CONSCIOUS CAPITALISM IN BUSINESS
MKT3541 Conscious Capitalism in Business
General credit – 4 credits
This course introduces students to the evolving approach to business known as Conscious Capitalism. Students will learn how Conscious Capitalism differs from a traditional perspective on business; critically examine its impact on the well-being of all stakeholders; and explore in detail how to operationalize its four tenets (higher purpose, stakeholder orientation, conscious leadership and conscious culture) in existing firms as well as startups. Students will be introduced to systems thinking and learn how to develop their own conscious leadership abilities. The course will incorporate a blend of lectures, discussions, guest speakers, weekly Personal Mastery exercises and a group project that entails performing a Conscious Business Audit of a company.
DEVELOPING AND MARKETING NEW PRODUCTS
Developing and Marketing New Products
The objective of this course is to familiarize students with new product techniques that are commonly used in the consumer product and service industries. The focus will be on the marketing function's input to the new product process during the pre-launch and launch stages. The course will cover a wide range of issues such as market definition, concept generation and evaluation, product design, product positioning, test marketing and product launch and tracking. The course will be based on lectures, case discussions and project assignments. The lectures will provide an overview and cover issues included in the assigned readings. It is essential that you are familiar with the readings before every class. The case discussion (student participation is vital here) will provide an application setting to test the concepts learned in the lectures. The project assignments are designed to give you hands-on-experience with new product development tools and techniques.
GLOBAL MARKETING MANAGEMENT
Global Marketing Management
The purpose of this course is to understand the nature and functions of marketing in a global context, specifically marketing to multiple countries simultaneously. The course will expose students to many different cultures and environments by exploring the materials in diverse national and geographical settings. Students will analyze global market opportunities and develop global marketing strategies which leverage experience, knowledge and investments across multiple countries. The course puts particular emphasis on developing a global mindset among the students.
Second-semester junior or senior status is recommended.
This course is typically offered in the following semesters: Fall and Spring
MKT4506 MARKETING ANALYTICS
4 credits – general credit
The objective of this course is to demonstrate the benefits of using a systematic and analytical approach to marketing decision-making, and to help students develop their skills and confidence in doing such analyses. Analytical approaches enable (a) the identification of alternative marketing options and actions, (b) the calibration of opportunity costs associated with each option, and (c) the choice of one or more options with the greatest likelihood of achieving the business goals. By completing this course, students will be better able to make the case for marketing expenditures (based on ROI) that companies are increasingly asking of their executives. This course integrates marketing concepts with practice, and emphasizes "learning by doing."
Examines the nature and role of communications in marketing, focusing on the goals and uses of advertising, sales promotion, public relations, direct marketing, and personal selling in achieving the communications objectives of marketing. Explores the design, organization, and implementation of the communications mix, and the economic, social, and ethical implications of promotion. Involves determining the promotional budget, creating a message strategy, planning the media mix, targeting communications to selected market segments, executing the promotion program, and measuring promotional effectiveness. Considers the relationship and integration among the various elements in the marketer's communications program. Students form agency teams to create a comprehensive integrated marketing communication plan for a product or service.
This course is typically offered in the following semesters: Fall, Spring, and Summer I
MARKETING LAW, EHTICS AND SOC RESPONSIBI
MKT 3525-Marketing Law, Ethics & Social Responsibility
4 Credits (general credit)
This course examines the laws related to the 4 Ps of marketing (Product, Price, Promotion, and Place) that every marketing manager needs to know in order to avoid jail time and legal financial sanctions. In addition to learning how to manage legal risks related to the marketing function, students also will study several current marketing related controversies such as food marketing and obesity, marketing to children and “greenwashing” from both the legal and ethical perspectives. The goal of this course is to enable student to create value through the marketing function by being able to anticipate and address future marketing controversies and develop a reputation for ethical and responsible marketing.
This capstone course is designed to apply skills and knowledge gained in prior marketing courses. The course emphasizes issues of setting a viable marketing strategy (e.g., segmentation, targeting and positioning) in a competitive marketplace. Through case studies, course readings, a marketing strategy simulation, and a variety of presentation opportunities, students will address a wide range of marketing problems most of which involve issues of marketing strategy. Additionally, through the cases and readings, students will be exposed to a broad spectrum of marketing environments: e.g., products vs. services, consumer markets vs. business-to-business markets, global brands vs. local/regional brands. Throughout the course, students will be challenged to conduct a thorough marketing analysis and to present their conclusions to their peers and professor.
Prerequisite: MCE2313 & 1 Marketing Elective
This course is typically offered in the following semesters: Fall, Spring, Summer first session
MGMT CONSULTING FIELD EXPERIENC
Over 80% of marketing positions are involved with marketing to businesses, while less than 20% are marketing to consumers. The objective of this course is to explore the distinctive dynamics of business-to-business (B2B) marketing and develop students' understanding of the most up-to-date methods and approaches. Major emphasis will be on assessing high potential business markets and developing marketing strategies to take advantage of targeted opportunities. By the end of this semester you should be able to systematically analyze a business segment and develop a value proposition and promotional plan which supports your company's strategic objectives. You will learn both traditional and non-traditional marketing techniques. You will work in teams to develop and present marketing plans for actual companies.
This course is typically offered in the following semesters: Fall and Spring
This interdisciplinary course discusses how the consumer is the focus of the marketing system. Drawing on research from sociology, psychology, strategy and economics, this course focuses on the factors that shape consumer needs and influence buying behavior. The content of the course explores individual behavioral variables (needs, motives, perceptions, attitudes, personality, and learning) and group influences (social groups and culture) as they affect the consumer decision-making process. The objective of the course is to help students understand how to analyze marketing programs, especially the communications mix and market segmentation, to improve consumer satisfaction.
This course is typically offered in the following semesters: Fall, Spring, and first session Summer
MKT3515 Digital Marketing
4 credit general elective
This course is intended to prepare students to lead marketing initiatives in digital environments, where companies and professionals are transforming the way to provide value to consumers, and to develop mutually beneficial relationships with them. Lectures, readings, case discussions and project assignments will offer both an integrative management perspective and a comprehensive framework on digital marketing. The course will cover a wide spectrum of topics, including marketing strategic approaches on the Internet, e-CRM, e-marketing research, digital positioning and branding, managing social networks, integrated communications on digital media, new pricing approaches, digital competition, virtual merchandising, and e-commerce strategies. Upon completion of the course, students will have acquired competencies in designing marketing programmes that develop the innovative potential of online consumers and social networks.
MANAGING THE SALES PROCESS
Managing the Sales Process
Several college graduates become sales professionals, business development executives, customer relationship managers, sales managers, or end up in positions which depend on the success of the sales effort. Entrepreneurs soon realize the critical role of professional selling and sales management for the growth and survival of their nascent ventures. This course is designed to equip students with a deep understanding of the sales process, skills to excel in professional selling or business development, and methods to build and lead effective sales force. By the end of the course, students will be able to prospect for new businesses, generate leads, prepare for calls, engage prospects, handle customer objections, close deals, and maintain long term customer relationships. Also, they will be able to assume sales leadership roles such as the selection and recruitment of salespeople, the setting up of sales force control systems, and the motivation of salespeople through reward designs and leadership support. Students will be exposed to real life sales management issues through a team project that involves understudying the sales process of a company of their choice.
MKT3505 Marketing Experiments
4 credit – general credit
Experimentation lies at the heart of innovation and involves a test-and-learn approach. Changes in how companies interact with customers make field experiments a more economically feasible way to learn about marketing questions. The rapid rise of the “test-and-learn” philosophy in marketing has created a huge demand for those who can design, execute, and analyze experiments. The objective of this course is to provide students with hands-on experience with experiments for business decision making. Experiments involve creating a hypothesis, designing and executing a test of that hypothesis, analyzing the results, and determining next steps.
This course provides students with hands-on experience with marketing research and analysis. Marketing research is simply an organized way of developing and providing information for decision-making purposes. The quality of information depends on the care exercised at each step of the marketing research process. These steps include: problem definition, research design, data collection methods, questionnaire design, measurement, sampling, data analysis, data interpretation. The class will discuss key elements and issues in marketing research including sources of data, data collection techniques and analytical approaches for providing information to be used in managers' decision. The first part of the class will focus on research process and design. In this section students will learn how to formulate a research problem, determine a research design, evaluate methods for data collection and develop instruments for data collection. The second part of the class will focus on how to analyze the data and recommend the appropriate action to management.
This course is typically offered in the following semester: Spring
Retailers lie at the end of the supply chain. They interface with the ultimate consumer as well as with suppliers. Retailers make investments in real estate and solicit funds from the investment community. Importantly, most of the major retailers in the United States are involved in multichannel strategies that involve selling over the Internet. As a result, this course should appeal to students with varied interests: retailing management, suppliers to retailers (or any business selling inventory), entrepreneurs, retail services, real estate, IT e-commerce, and finance. The objective of the course is to familiarize students with all of the major decisions retailers make, e.g., developing strategies, buying, financing, locating stores. The course is designed around experiential learning exercises-We get out and do it!
MKT4575 SPORTS MARKETING
4 credit general credit
This course focuses on the application of marketing concepts in the dynamic and high-profile sports industry that has become a significant economic and social force on a global scale. Among the topics to be explored in the context of the sports field are: sponsorship, branding, marketing research, consumer behavior, product development, licensing, distribution, pricing, segmentation, targeting, positioning, media, marketing communications, advertising, sales promotion, public relations, direct marketing, personal selling, legal issues, ethical issues, women's sports professional sports, collegiate sports and others. Emphasis will be on the need for an integrated approach for marketing of sports, by sports or through sports. We will view sports as a product and sports as a vehicle. Using a text, custom-designed materials, cases, special assignments, a major project creating a comprehensive integrated marketing plan, and guest speakers from the sports field, the course will promote critical integrative thinking and analysis relative to the important issues and challenges confronting marketers in the sports industry. As we go about this course, we will be guided by the following principle: the genius of managing a sports marketing program is acquired largely through a genuine understanding of the activities and relationships that constitute fully integrated marketing, relying on a system of learned skills and experiences.