Marketing
Please note: Before choosing courses and scheduling classes, check the Marketing department’s website to determine the availability of courses and the possible addition of new courses for the upcoming semester at Marketing website.
The marketing major is designed to build deep competency in the art and science of: (1) choosing which customers to serve, and (2) getting, keeping and growing them through delivering superior customer value. Marketing majors will gain a proficiency in the latest methods and concepts for understanding customer behavior and for devising effective marketing strategies. This is a valuable preparation for careers in consulting and general management and essential for entrepreneurs.
Students begin by taking Marketing Management (MKTG 621/622), an overview of the role of marketing in the development of business strategies. Using a combination of lectures, readings, case studies, and computer simulations, these core courses review fundamental approaches in product/market selection, product line management, communications management, pricing, distribution, and marketing research. Students can choose among many electives to structure a program of study to match their interests and career objectives.
MBA Advisors: Raghuram Iyengar (telephone: 215.898.2391; riyengar@wharton.upenn.edu; Christophe Van den Bulte (telephone: 215.898.6532; vdbulte@wharton.upenn.edu).
Requirements for the Major
Two majors are available: the Marketing Management major
and a cross-functional major in Marketing and Operations
Management.
The Marketing Management major requires five credit units. Courses taken in fulfillment of the Marketing major cannot be taken on a pass/fail basis.
-
- a) The two core courses
- MKTG 621 Marketing Management: Program Design (.5 cu)
- MKTG 622 Marketing Management: Strategy (.5 cu)
b) The marketing research course- MKTG 756 Marketing Research
c) At least three credit units chosen from the MKTG elective courses.
Students not majoring in Marketing often find that there are several combinations of marketing electives that fit their interests well. Popular combinations of electives include: the New Product Development one-half credit course combined with the Advertising Management or the Pricing Policy one-half credit courses (to complete one credit unit), the Marketing Research course, and the Marketing Strategy course.
NOTE ON MKTG 891 (THESIS) OR MKTG 899 (INDEPENDENT STUDY)
A student contemplating MKTG 891 (Thesis) or MKTG 899 (Independent Study) must first find a faculty member who agrees to supervise and approve the student’s written proposal for an independent study project. Final approval is granted by a Marketing Department MBA Advisor.
MKTG 621 (.5 cu)
Marketing Management: Program Design
Description: See description in Core section.
MKTG 622 (.5 cu)
Marketing Management: Strategy
Description: See description in Core section.
MKTG 655 (.5 cu)
Integrating Marketing and Operations
Description: See Operations and Information Management, OPIM 655.
MKTG 668x
Monetizing Emerging Interactive Media
Description: Technology has created a completely new and ever-changing marketing and media economy. Hundreds of millions of interactive media users have migrated to various digital platforms and spend hours a day engaged in media behaviors that barely existed a short time ago. Hundreds of millions of marketing dollars have followed, usually in search of one-to-one marketing on a global scale. But few standards exist in buying and selling of emerging media, and traditional marketing concepts like ROI and POP are pulled in directions as varied as the platforms. Additionally, with every emerging platform and every new user connection, one critical question persists: how is it monetized? This class will examine the business of emerging platforms and, through case studies, class speakers and real world examples, examine how digital currency is taking control of the business conversation. By the end of the class, students will be expected to answer the monetization question across a variety of emerging media platforms.
Format: Lectures, class discussion.
Prerequisites: None.
MKTG 728x
Contagious: How Products, Ideas and Behaviors Catch On
Description: Why do some products catch on and achieve huge popularity while others fail? Why do some behaviors spread like wildfire while others languish? How do certain ideas seem to stick in memory while others disappear the minute you hear them? More broadly, what factors lead to trends, social contagion, and social epidemics? Interactive media, word of mouth, and viral marketing are important issues for companies, brands, and organizations and this course looks at these and other topics as it examines how products, ideas, and behaviors catch on and become popular. Marketers want their product to be popular, organizations want their social change initiative to catch on, and entrepreneurs want their ideas to stick. The course will touch on four main aspects: Characteristics of products, ideas, and behaviors that lead them to be successful; Aspects of individual psychology that influence what things are successful; Interpersonal processes, or how interactions between individuals drive success; and Social networks, or how patterns of social ties influence success.
Format: Lecture, discussion, written assignments and team project.
Prerequisites: Marketing Research (MKTG 756) and Consumer Behavior (MKTG 773) are recommended but not required.
MKTG 751 (.5 cu)
Sales Force Management
Description: Students who take this course will learn the basic functions of sales force management as well as theories and concepts about appropriately managing that function; become familiar with some recent research in sales management that underlies the theories and concepts; and be able to apply the research, theories, and concepts to practical situations. The course is concerned with how to manage a sales force rather than with how to sell, with the objective of maximizing the efficiency and effectiveness of the firm's revenue-generating arm. The emphasis is on business-to-business (rather than consumer) sales force management. Topics covered include salesperson effectiveness, deployment, motivation, organizational design, compensation, and evaluation.
Format: Lectures and discussion of cases and readings, including recent research. Class participation and exam.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently.
MKTG 753 (5.cu)
New Product Development
Description: The course’s primary focus is on new product/ service decisions and development processes. The course provides a comprehensive analytical coverage of the various product decisions, critical discussion of the research needed as input to the decisions, and the contributions of management and behavioral sciences to the development process. The course covers the following areas: the role of new products in marketing and corporate management; basic product policy concepts, product life cycle, product positioning, product portfolio, and new product development testing, management and launching.
Format: Group presentation of the application of the various concepts, findings, and approaches to a specific product or service of the group’s choice; case discussion and lecture; and class participation and class presentations, a short written assignment, and a group assignment.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently; completion of MKTG 756 is helpful.
MKTG 754 (.5 cu)
Pricing Policy
Description: The course provides a systematic presentation of the factors to be considered when setting price, and shows how pricing alternatives are developed. Analytical methods are developed and new approaches are explored for solving pricing decisions.
Format: Lecture and discussion. Homework and a final exam.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently; OPIM 621 and STAT 621 are recommended.
MKTG 755 (.5 cu)
Advertising Management
Description: The primary objective of this course is to provide students with an opportunity to analyze, design, and evaluate various advertising decisions. The course focuses on the concepts, theory, models, and findings from marketing, marketing research, communication research, and management science that are relevant to the design and evaluation of advertising. The specific topics covered in this course include advertising as a communications process, research for advertising strategy development, determining the advertising budget, the role of the advertising agency, message design, message/copy evaluation, media strategy, media selection models, evaluating advertising effectiveness, and evaluating the advertising campaign.
Format: Class discussion and presentation centered around the various steps in the development of an advertising campaign. Active participation in class and case discussions; one individual or team presentation; one written assignment; and either an advertising plan for a new product or a written in-class exam.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently.
MKTG 756
Marketing Research
Description: Marketing is important to any company that faces competition, and marketing research is the way companies obtain customer insights. This course provides a rigorous experience in marketing research methods (e.g., conjoint analysis, perceptual maps, etc.), and frameworks to guide when which method is most useful. The course is aimed at managers, whose decision making is enhanced through marketing research which transforms “data” into “information.” The manager is the ultimate user of marketing research and is responsible for determining its scope and direction. Techniques of data collection, evaluation of alternative sources of information, methods for analyzing data and presenting the results are covered.
Format: Lecture, discussion, and cases. Homework and a final exam.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently; STAT 621 is strongly recommended.
MKTG 760/LGST 805
Law of Marketing and Antitrust
Description: See Legal Studies, LGST 805.
MKTG 768
Special Topics: Managing the Value of
Customer Relationships
Description: As the concept of "customer relationship management" becomes common parlance for virtually every kind of company, it is useful to take a step back to better understand the various different behaviors that underlie and motivate the development of formal CRM systems. These "behaviors" include customer-level decisions, firm actions, and the delicate but complex interplay between the two. Accordingly the course is comprised of three main modules: (1) understanding the sources and dynamics of customer value, (2) how firms create and enhance customer value, and (3) strategic/tactical considerations in managing the value creation/extraction process. The course content will be rigorous but not excessively analytical, "real world" practical but with an eye towards relevant academic work, and narrowly focused on CRM-type issues but with broad coverage of industries/applications in which they arise.
Format: Lectures, discussion.
Prerequisites: MKTG 621/622.
MKTG 771
Models for Marketing Strategy
Description: The purposes of the course are to help participants become better managers by acquainting and helping them to understand different types of models used to aid marketing decisions; have them apply various tools developed for analyzing marketing decision problems; give participants critical skills for evaluating new marketing models about which they may read in the literature; help participants understand marketing problems more clearly by analyzing them quantitatively; and produce managers who will not be taken advantage of by some quantitative consultants.
Format: Evaluating marketing models papers; practicing with state-of-the-art computer-based models and software; building marketing models; discussing case studies that describe modeling applications; group presentations of model-based marketing strategy. Individual assignments, computer-based case analyses and presentations, term paper, group assignments, and class participation.
Prerequisites: Completion of MKTG 621/MKTG 622, calculus, and basic statistical analysis, including regression.
MKTG 773
Customer Behavior
Description: Marketing begins and ends with the customer, from determining customers’ needs and wants to providing customer satisfaction and maintaining customer relationships. This course examines the basic concepts and principles in customer behavior with the goal of understanding how these ideas can be used in marketing decision making. The class will consist of a mix of lectures, discussions, cases, assignments, project work and exams. Topics covered include customer psychological processes (e.g., motivation, perception, attitudes, decision-making) and their impact on marketing (e.g., segmentation, branding, customer satisfaction). The goal is to provide a set of approaches and concepts to consider when faced with a decision involving understanding customer responses to marketing actions.
Format: Lectures and discussion, case analyses, presentations. Exam, assignments, project, and class participation.
Prerequisites: Completion of MKTG 621/MKTG 622.
MKTG 776
Applied Probability Models in Marketing
Description: This course exposes students to the theoretical and empirical “building blocks” that will allow them to develop and implement powerful models of customer behavior. Over the years, researchers and practitioners have used these methods for a wide variety of applications, such as new product sales forecasting, analyses of media usage, customer valuation, and targeted marketing programs. These same techniques are also very useful for other types of business (and non-business) problems.
Format: The course will be entirely lecture-based with a strong emphasis on real-time problem solving. Most sessions will feature sophisticated numerical investigations using Microsoft Excel.
Prerequisites: Much of the material is highly technical. Students must have a high comfort level with basic integral calculus, and recent exposure to a formal course in probability/ statistics would be helpful (but is not required).
MKTG 777
Marketing Strategy
Description: This course views marketing as both a general management responsibility and an orientation of an organization that helps one to create, capture and sustain customer value. The focus is on the business unit and its network of channels, customer relationships, and alliances. Specifically, the course attempts to help develop knowledge and skills in the application of advanced marketing frameworks, concepts, and methods for making strategic choices at the business level.
Format: The format varies by instructor. Check the syllabi. Most, though, use case, lecture, group projects, and class discussion.
Prerequisites: MKTG 621/MKTG 622; this course may be taken only in the second year.
MKTG 781(.5 cu)
Entrepreneurial Marketing
Description: This course focuses on the key marketing concepts and methods relevant for entrepreneurs. In particular, it covers the marketing elements of new venture initiation (including a business plan), as well as marketing decisions for small and growing organizations. Topics include product/service design, assessment of market potential, creation of successful distribution relationships, and new product pricing. In contrast to the product development course, the emphasis here is on a new startup business rather than a new offering from an existing business. Topics covered in this course also include low-budget or no-budget market research, successful strategic alternatives for small business, alternatives to high-cost advertising (e.g., direct marketing, alternative media, and personal selling), segmentation, and targeted marketing. Students will prepare a marketing plan for an entrepreneurial organization of their choice, possibly for a new venture they are considering.
Format: Case, lecture, class discussions.
Requirements: Development of an organizational marketing plan for a entrepreneurial venture, readings and class discussion.
Prerequisites: MKTG 621; MKTG 622 concurrently; MKTG 756 concurrently; students are discouraged from taking this course and MKTG 753 unless with permission of an MBA advisor.
MKTG 782 (.5 cu)
Multinational Marketing
Description: This course explores the substantive issues, information sources, and cultural sensitivities required to develop an effective international strategy and associated market plan. Since the international environment changes so quickly, we will no doubt have occasion to discuss current events. Central to the course is a group project involving the development of a marketing plan for a product or service of your choice to be marketing in at least two countries.
Format: Cases, lectures, class discussions, project.
Prerequisites: Completion of MKTG 621; MKTG 622 concurrently.
MKTG 792 (1 cu)
Special Topics: Visual Aesthetics and Style in Retail Merchandising
Description: This course is a visual and practical approach to understanding global styles and it involves readings, active participation in the creation of lifestyle boards, brand books, exercises to develop all the senses and the development of a total style concept. Students will be exposed to the Whitaker Lifestyle Segmentation of the Global Consumer system and will learn:
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• How to anticipate and predict consumers needs and their style evolution.
• How to identify new retail opportunities.
• How to create innovative retail concepts and brands.
• How to merchandise the appropriate products for a specific lifestyle.
• How to develop your intuition and creative power.
Format: Lecture plus experiential learning
Prerequisites: None
MKTG 793 (.5 cu)
Retailing
Description: This course provides an interdisciplinary overview of the retailing industry. Primary focus will be on the customer facing activities of retailers, including assortment planning, private- label development and the management of in-store operations, and the back-door activities (forecasting and supply chain management) that support customer interaction. In addition, current issues facing retailers, such as customer relationship management, industry consolidation and supplier relations, will be explored. The course will also survey topics in finance, operations, information technology and real estate as they relate to retail.
Format: Lecture and discussion, case analyses and guest speakers. Regular attendance, case discussions, assignments and exams.
Prerequisites: MKTG 621/622 or permission of instructor.
MKTG 890
Advanced Study Project (ASP) in Marketing
(Group Projects)
Description: The principal objectives of this course are to provide opportunities for undertaking an in-depth study of a marketing problem and to develop the students' skills in evaluating research as designing marketing strategies for a variety of management situations. Selected projects can touch on any aspect of marketing as long as they entail the elements of problem structuring, data collection, data analysis, and report preparation. (Strict library-type research is not appropriate.) The course entails a considerable amount of independent work. Class sessions are used to monitor progress on the project and provide suggestions for the research design and data analysis. The last portion of the course often include an oral presentation by each group to the rest of the class and project sponsors. There are a number of ASP projects which involve practicums in multinational marketing in partnership with MBA students in Israel, Canada, Chile, China, India and Mexico (see below). The output of the project is an implementable business plan to help a real company enter or improve its position in a foreign market. Some projects help foreign companies increase exports to the U.S., while others help U.S. companies increase their exports to a foreign country. Along with marketing, the projects integrate elements of management such as finance, production research and development, and human resources. See the Marketing Department for a current list of opportunities.
Format: Mainly individual group meetings with the instructor, written presentation and possibly an oral presentation.
Prerequisites: Written presentation and possibly an oral presentation. MKTG 890 is taken in the fourth semester, after MKTG 621/622 and MKTG 756 have been completed. By application only. Students must apply in the fall semester for spring admittance.
MKTG 890 (1.5 cu)
Wharton Global Consulting Practicum (GCP) in partnership with the following institutions: Universidad Adolfo Ibañez (Chile), Peking University Guanghua School of Management (China), Fudan University School of Management (China), Universidad de los Andes (Colombia), Indian School of Business (India), Tel Aviv University Recanati Business School (Israel), Universidad del Pacifico (Peru), and Instituto de Empresa (Spain)
Description: The GCP is a cross-functional, globally-oriented program designed to educate MBA students in the problems of international business and the skills of consulting. It provides an experience in which students apply the concepts, tools, and paradigms they learn in their classes to real business problems. The GCP integrates several management disciplines, including marketing, operations, accounting, finance and general management. Students are encouraged to develop their skills in many important dimensions including: leadership and human resources, teamwork, cultural and economic diversity, language, and negotiation. Global teams, comprised of 4-6 Wharton MBA students with 4-6 MBA students from other leading international business schools, work with the top managers of their international client firms under the guidance of faculty from both schools. Wharton students’ experience in this course is highly focused on their particular global project team and client. Each project typically supports a client’s efforts to enter or enhance their position in the North American market. This course is project-based and meets during Quarters 3 and 4 with some work during Quarter 2. The Spring semester begins with travel to the partner country over Winter Break to meet the partner team and the client in person, and ends with a detailed tactical strategic marketing plan designed for launching their products/services. This plan is prepared in writing and presented orally by the team during a week-long seminar at the end of the semester referred to as May Colloquium. During the semester the team will participate in faculty and teaching assistant- supervised weekly team meetings (typically Tuesdays from 4:30pm - 7:30pm), a “Devil’s Advocate” session in February, and engage in original market research, state-of-the-art data analysis, focus groups, traveling to trade shows, surveys, business meetings with potential product users, marketing intermediaries in the field, as well as video and teleconferences with partner teams and participating clients. Specific guidelines must be followed in preparation for the final report. Acceptance to this course is by application only. Students must apply and be interviewed in September for Spring participation. For additional information visit the GCP website at: www.whartongcp.org.
MKTG 891
Thesis (Individual Project)
Description: MKTG 891-I and MKTG 891-II (two terms; two credit units). Preparation of a thesis under individual supervision of a faculty member. The student selects the thesis topic. Written approval of the student’s topic and acceptance of the student as an advisee must be obtained from a faculty member before the student can elect the two-term thesis option.
MKTG 892
Creativity
Description: The objective of this course is to enhance the students’ creativity and ability to lead and manage creative people and innovations. The course will be divided into five parts:
1. A series of guest lectures and discussions with creative people
from various fields such as an architect, composer, musician,
creative CEO, creative director of an advertising agency,
curator, artist, designer, entrepreneur, game designer, Nobel
prize winner, R&D director, a scientist, etc
.
2. A review of the literature on creativity, creative people, and
innovation as well as the leadership and management of
creative people and innovation.
3. Application of various approaches for generating
creative options.
4. Applications of creativity to selected management domains -
approaches to the generation of creative options are not limited
to the development of products and services or businesses,
but can be applied to all areas of management and business.
The purpose of these sessions is to explore the applications
of creative approaches to M&A and growth strategies,
marketing, cost reduction efforts, innovation, organizational
design, and leadership and management of creative people.
5. Integration - a group project in which interdisciplinary
teams of students generate a creative product/service/
business/strategy.
Format: Lectures, discussions, readings, class participation. Group project.
Prerequisites: None.
MKTG 898
Forecasting Methods for Marketing
Description: Better forecasting can lead to better short-term and long-term planning and, in turn, to better decision-making. Forecasting Methods for Marketing examines judgmental forecasting methods such as prediction markets, analogies, intentions, and expectations. The course also examines quantitative methods such as extrapolation and econometrics, with the latter as especially useful for assessing the effects of changes in key variables such as pricing or advertising. These methods can be used to forecast consumer behavior, market share, and sales (for production and inventory control). They can also be used to forecast actions by competitors, governments, unions, and retailers. Recently developed methods have been shown to substantially improve accuracy and to provide better assessments of risk.
MKTG 899
Independent Study (Individual Project)
Description: A student contemplating an independent study project must first find a faculty member who agrees to supervise and approve the student’s written proposal as an independent study (MKTG 899). If a student wishes the proposed work to be used to meet the ASP requirement, he/she should then submit the approved proposal to an MBA advisor who will determine if it is an appropriate substitute. Such substitution will only be approved prior to the beginning of the semester.