2016-17 Catalog

Marketing

Marketing Department Web page: www.lehigh.edu/cbemarketing

Marketing is a critical success factor in any business. Marketing is more than just selling or advertising. It is understanding a product. It is focusing on the needs of the consumers. It encompasses new product development, pricing, promotion and distribution considerations. Marketing influences virtually all strategic business plans and decisions and its scope ranges from government and not-for-profit organizations to free enterprise. Marketing plays a major role in the management of any business.

Lehigh’s marketing major is a rigorous and highly relevant curriculum of instruction. Students are taught to recognize the strong linkage between theory and practice and to appreciate the need for teamwork, leadership, and communication skills. Activities that encourage students to acquire professional-level competency throughout the curriculum include: developing integrated advertising campaigns, designing and implementing marketing research projects, conducting customer analyses, as well as a wide variety of practice-based projects.

Students are encouraged to explore the potential enhancement of their educational experience through study abroad programs, internships with business, and research projects with faculty members.

Participation in the Marketing Club student organization is an extracurricular activity that offers a professional orientation program and the enjoyment of socializing with other students from across the campus.

MARKETING MAJOR

The marketing major offered by the Department of Marketing consists of 18 credit hours from the following courses:

Required courses
MKT 311Consumer Behavior3
MKT 312Marketing Research3
MKT 387Marketing Strategy3
Elective courses
Select three of the following:9
Advertising & Sales Promotion Strategy
Digital and Social Media
Development and Marketing of New Products
Global Marketing
Consumer Insights through Data Analysis
Marketing Analytics in a Digital Space
Retail Marketing
Strategic Brand Management
Professional Selling
Sales Management
Services Retailing and Marketing
Directed Readings
Special Topics
Total Credits18

MARKETING MINOR

The purpose of the marketing minor program is to enable non-CBE students to pursue a course of marketing studies that will enable them to supplement their major studies and make them more marketable. The overall learning objective of the program is to provide non-CBE students with the knowledge and skills with which to make more informed marketing decisions.

Program of Studies:

A Marketing Minor consists of 12 credits. Students wishing to earn a Marketing Minor must take MKT 111, and then select three other marketing courses from the marketing curriculum (with the exclusion of MKT 360 and MKT 371).

Program Admission Requirements:

Each Spring semester, a limited number of students will be accepted into the Marketing Minor Program for the following Fall semester.  Applications to the program will be made by students and submitted to the program director by the last Friday in January.  An admissions committee comprised of the Marketing Minor Program director and set of marketing faculty will make admission decisions based on G.P.A., experience, and interest in pursuing marketing opportunities upon graduation from Lehigh (to be evaluated on the basis of a written essay), and capacity. Students will be notified of admissions decisions prior to registration for the Fall semester.  MKT 111 open to registration for all students in the Marketing Minor Program. Email inquiries should be directed to the Director of the Marketing Minor Program, inmarket@lehigh.edu.

Required prerequisite course:
ECO 001– Principles of Economics

Graduate Courses

Course descriptions for the College of Business and Economics graduate courses can be found in this section under the heading of Business and Economics Graduate Courses.

Courses

MKT 111 Principles of Marketing 3 Credits

The purpose of this course is to give an overview of the entire marketing function. The objective is to take a broad-based approach to expose students to the meaning of marketing, the terminology of marketing, the activities involved in marketing, how managers make and implement decisions in marketing, and how they evaluate the results. The role of marketing in the broader society will also be discussed. At the end of this course, students will be able to understand the meaning of the marketing concept, various marketing terminologies, how firms develop and evaluate marketing strategies related to product, place, price, and promotions, how marketing strategies are related to other strategies of the firm, and what internal and external factors influence the marketing decisions. The outcome of the course will be assessed by a series of multiple choice and short essay questions, and other suitable assignments decided by the instructor.
Prerequisites: ECO 001

MKT 300 Apprentice Teaching 1-3 Credits

Repeat Status: Course may be repeated.

MKT 311 Consumer Behavior 3 Credits

This course focuses on the theory and tools necessary to analyze and understand consumer buyers and business buyers, as well as other organizational and governmental buyers, in the context of the global information age. The topics covered include, but are not limited to, diffusion of innovations; market segmentation and product positioning; the multiattribute model and the theory of reasoned action; group and individual decision making processes of buyers; and buyer conditioning and learning processes. Throughout the course, the relevance of the covered theory and tools will be illustrated by using cutting edge examples of what businesses and consumers are doing today. At the end of this class, students will be able to demonstrate an understanding of the theories and tools of buyer behavior. In addition, they will be able to analyze buyers and develop appropriate marketing strategies. The achievement of course objectives will be measured through the use of examinations, as well as a variety of application level tools, including in-class projects, case analyses, and a term project.
Prerequisites: MKT 111

MKT 312 Marketing Research 3 Credits

The objective of this course is to offer a managerial approach toward conducting and using research for marketing decisions. The focus will be on the relevance and usefulness of systematic research for decision making, the process and steps involved in conducting effective marketing research, analysis and interpretation of the information for decision making, and the presentation of research results to help managers arrive at sound marketing decisions. Particular emphasis will be placed on the context of technological advances in the collection, dissemination, and use of marketing information, the applicability of marketing research principles for a wide variety of organizations and individuals in the global context, and ethical issues involved in marketing research. At the end of this course, students will have an understanding of the costs and benefits of marketing research, be able to conduct marketing research using a systematic set of procedures, know how to develop research instruments such as questionnaires, have the knowledge to analyze the data, and present the conclusions to other managers. In addition to periodic testing of their knowledge of marketing research by means of examinations (multiple choice, short essay questions, and hands-on problems), the course will involve a marketing research project from problem formulation to presentation of findings.
Prerequisites: (ECO 145 or ECO 045) and MKT 111

MKT 313 Advertising & Sales Promotion Strategy 3 Credits

The basic principles of advertising are covered in this course through the mechanism of an advertising campaign. Emphasis is on the advertising and promotions planning framework including but not limited to: targeting of advertising, types of media, types of promotions, media planning and buying, creative planning, and the basic creative formats appropriate for each medium. As part of a specific advertising campaign, the student must estimate the campaign's budget and evaluate the campaign's overall performance following its conclusion.
Prerequisites: MKT 111

MKT 314 Digital and Social Media 3 Credits

The focus of this course will be on understanding social and digital media, how to build social/digital media marketing strategies, and how to track their effectiveness. The key course objectives include: (1) evaluate what companies have done or are currently doing and learn what makes some marketing communications strategies succeed but others fail; (2) stay abreast of recent and current trends and innovations in social and digital media; and (3) learn about how customers interact socially.
Prerequisites: MKT 111

MKT 319 Development and Marketing of New Products 3 Credits

This course adopts the marketing philosophy that new products and services will be profitable if the extended product provides customers with highly valued benefits. The goal is to help students learn how to use state-of-the-art management techniques to identify markets, develop new product ideas, measure customer benefits, and design profitable new products. The course provides techniques to interface the marketing function with the functions of R&D, design engineering, and manufacturing.
Prerequisites: MKT 111

MKT 320 Global Marketing 3 Credits

Understanding the process of globalization and its impact on the firm’s marketing activities. Whether an organization operates in the domestic market or in the global market place, it cannot ignore competitive pressures and market opportunities at the global level. This course will focus on topics such as the changes in global environment and their impact on marketing activities, development of global marketing strategies based on sound marketing research, and the role of technology in global marketing strategies.
Prerequisites: MKT 111

MKT 325 (ECO 325) Consumer Insights through Data Analysis 3 Credits

Explores marketing analytic approaches aimed to improve the understanding of customer and customer perceptions thereby enhancing the effectiveness of marketing decision making and implementation. Foundational data analysis techniques are examined in such areas as advertising, customer acquisition and retention (customer relationship management), segmentation, customer loyalty, lifetime-value analysis of the customer, pricing, sales force management, sales promotions and new products. The development, implementation, and utilization of quantitative models on customer data are emphasized. Prerequisites as noted below.
Prerequisites: MKT 111 and ECO 146

MKT 326 Marketing Analytics in a Digital Space 3 Credits

This course provides a quantitative approach to understanding and harnessing marketing data (e.g., online advertising, social media) to meet marketing objectives. Students will learn how to design, run, evaluate and improve online marketing efforts to meet specific business objective like customer acquisition, increased brand awareness, etc. This course will cover basic marketing and statistical concepts, provide an introduction to different online marketing tools (e.g., inbound marketing, SEO/SEM and social media analytics), and techniques pertaining to visual representation of marketing data.
Prerequisites: MKT 111
Attribute/Distribution: ND

MKT 327 Retail Marketing 3 Credits

This course provides an overview of the retailing industry. Primary focus will be on the customer-facing activities of retailers, such as assortment planning, private-label development and the management of in-store operations, and the back-door activities that support customer interaction. In addition, current issues facing retailers, such as customer relationship management, industry consolidation and supplier relations, will be examined.
Prerequisites: MKT 111

MKT 330 Professional Selling 3 Credits

The course provides students with basic preparation for business-to-business personal selling and careers in sales. The course utilizes role-playing, experiential exercises, lectures and projects designed to teach the latest strategies and tactics in lead generation and prospecting, qualifying leads for high potentials, seeding, cold-calling, making formal sales presentations, handling objections, negotiating for final proposal, closing techniques and service after the sale.
Prerequisites: MKT 111

MKT 332 Sales Management 3 Credits

This course is an integrative approach to sales management including formulation of strategically sound sales programs, implementation of sales programs, and evaluation and control of the organization’s sales activities. Illustrative topics include the role of the sales manager in the divergent demands of multiple constituencies; the development of effective sales organizations; salesperson’s motivations and the development of flexible motivational plans; the variety of financial and non-financial rewards used by sales managers; forecasting sales costs and evaluating performance by person, territory, customer, market, and industry; and coordination of the sales activities with other elements in a firm’s marketing program.
Prerequisites: MKT 211 or MKT 111

MKT 347 Strategic Brand Management 3 Credits

In this class you will be introduced to concepts pertaining to brand development and its relationship with technology, design, emotions and the financial performance of firms. Our goal is to help you learn how to use state-of-the-art branding techniques. Our focus is brand equity and its contributions to shareholder wealth. The course will be relevant to students who expect to work directly in brand or product management.
Prerequisites: MKT 111

MKT 360 Marketing Practicum 3 Credits

The marketing practicum combines formal class work on marketing problem formulation and business communications with an intensive internship or consulting engagement with a business. Students work with client firms to develop individual or team projects, which focus on marketing activities such as market research, strategy development, sales management, and promotion management. Upon completion of the project, students submit a written report and make a formal presentation to clients. This course cannot be used to satisfy marketing major requirements. Summer only.
Prerequisites: MKT 111 and MKT 312 and MKT 311

MKT 366 Services Retailing and Marketing 3 Credits

While manufacturing giants all consider themselves service-related companies, services are moving to the forefront of industry value proposition offerings. This course focuses on issues related to service design and marketing on a broad basis, and its implication to retailing in particular. The course enables students to gain an understanding of the special challenges evident in marketing services and to acquire a unique set of knowledge and skills beyond the traditional strategies designed for product goods. Illustrative topics include fundamental differences.
Prerequisites: MKT 111

MKT 371 Directed Readings 1-3 Credits

Readings in various fields of marketing designed for the student who has a special interest in some field of marketing not covered in regularly scheduled courses. Consent of department chair required.
Repeat Status: Course may be repeated.

MKT 372 Special Topics 1-3 Credits

Special problems and issues in marketing for which no regularly scheduled course work exists. When offered as group study or internship, coverage will vary according to the interests of the instructor and students. Consent of department chair required.
Repeat Status: Course may be repeated.

MKT 373 Marketing Internship 1 Credit

Based on a student’s work experience, a sponsoring faculty member shall direct readings, projects, and other assignments–including a “capstone report.” It should be noted that the work experience (at least 80 hours), by itself, is not the basis for academic credit. The faculty directed activity must be provided concurrent with the work. Course registration and related arrangements must be made in advance of the work engagement. This course must be taken Pass/Fail and cannot be used to satisfy marketing major requirements. Must have junior standing. Consent of department chair required. Declaration of a marketing major.
Repeat Status: Course may be repeated.
Prerequisites: MKT 111

MKT 387 Marketing Strategy 3 Credits

The objective of this capstone course is to synthesize the marketing principles introduced in other marketing courses and thus provide students an integrative framework to marketing decision-making. Our review indicates that this integrative closure for the marketing coursework is a common practice at some of the better business schools. It will focus on how marketing strategy supports the overall corporate strategy. The course will emphasize that Marketing does not operate in vacuum. What is done in other functional areas will impact marketing strategy profoundly, and vice versa. The will address traditional strategic issues such as identification of organizational strengths, weaknesses and environmental opportunities in the context of developing marketing strategies, but will also emphasize the importance of embracing a customer centric orientation throughout the organization. Incorporating a customer centric orientation is an essential component of marketing strategy today as it captures the dynamic and evolving nature of marketing. Every company employee is important to the marketing function, every employee contact with a customer is a form of marketing communication, the increasing number of customer- initiated contacts with the firm are as important as firm-initiated contacts, and customer relationships now take precedence over sales transactions. Specific emphasis will be placed on applying theoretical principles in realistic scenarios by means of case studies of how marketing strategy is impacted by the overall corporate strategy and other functional strategies. Student performance will be evaluated by his/her ability to prepare and present case analyses. Senior Standing.
Prerequisites: MKT 311 and MKT 312

MKT 389 Honors Project 1-6 Credits

MKT 415 Marketing Foundations 3 Credits

This course is designed to provide students with a comprehensive analytical framework to develop, implement and evaluate competitive marketing strategies that achieve organizational goals and objectives. It explores the functional marketing operations of organizations and examines the key elements of a marketing manager’s decision making process. Examples of learning modules include: customer and market analysis, segmentation, targeting and positioning, marketing mix decisions (product, price, placement and promotion).
Prerequisites: Must have Excel competency

MKT 425 Brand Strategy 2 Credits

This course is fundamentally about understanding how Brand Equity is built and managed. The course builds on the marketing principles and theories covered in Marketing Foundations, while enabling students to delve into the strategic components that go into building brands and managing brand equity. The course focuses on theories, models and tools that enable managers to develop new and manage existing brands.
Prerequisites: MKT 415

Professors. David A. Griffith, PhD (Kent State University); K. Sivakumar, PhD (Syracuse University)

Associate Professors. Ravindra Chitturi, PhD (University Texas, Austin); Beibei Dong, PhD (University of Missouri, Columbia); Nevena Taneva Koukova, PhD (University of Maryland); James M. Maskulka, DBA (Kent State University)

Assistant Professors. Keith A. Botner, PhD (University of Utah); Taewan Kim, PhD (Syracuse University); Ju-Yeon Lee, PhD (University of Washington); Marina Puzakova, PhD (Drexel University); Rebecca Jen-Hui Wang, MSEM (Dartmouth College)

Professors Of Practice. Michael R Catalano, MBA (Cornell University); Steven L. Savino, MBA (Wake Forest University)

Emeriti. James Edward Hansz, PhD (University of Cincinnati); Bruce M. Smackey, PhD (Rensselaer Polytechnic Institute)