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MKT 504
Roy Morley

Ted Rogers School of Business Management MKT 504 - EFFECTIVE PERSUASION, WINTER 2013 SECTIONS: 011 AND 021, WEDNESDAY, 3.00 P.M. - 6.00 P.M., LIB 072 INSTRUCTOR: DR. ROY MORLEY, PROFESSOR OF MARKETING OFFICE: TRS 1-034 EMAIL: [email protected] PHONE: (416) 979-5000 EXT. 2484 OFFICE HOURS: BY APPOINTMENT, PLEASE SEND ME AN EMAIL. The best way to contact me is by email, NOT by phone. I check my emails many times each day. You must include the course code, MKT504, your section number, and your name in the subject line. Each semester, students ask questions on items that have been covered on the course outline, have been sent to you by email, are posted on BB, or have been discussed in class. There are literally hundreds, sometimes thousands, of these questions every semester. So, if you send us an email and you already have the answer to your question, we will reply, but will not answer your question. It is up to you to find the answer. TEACHING ASSISTANT(S)/GRADUATE ASSISTANT(S): Not yet assigned. TEXT (Required): SELLING TODAY-PARTNERING TO CREATE VALUE. Gerald L. Manning, Michael Ahearne, Barry L. Reece, H.F. (Herb) MacKenzie, Canadian 6 edition, 2013, Pearson. You will require access to the student website TH NOTE: WE ARE NOT USING THE 5 EDITION OF THE TEXT. Please, no photocopies of the text. Some students have purchased copies of the test bank. So, the test bank is being completely rewritten to ensure students with a copy of the test bank do not have any advantage over those without one. The new test bank will be used for your test and final exam. Example questions will be given out prior to the test and final. PREREQUISITES There are no prerequisites for this course. Howeverrdthithis a Marketing course, typically taken st Bundness (mostly Marketing Majors) and other students in the 3 or 4 years of their program. If you are in the 1 or 2 year of your program you are at something of a disadvantage. Also, if you have never taken a Marketing course, for example MKT 100, you are at a disadvantage. You should do background reading to gain some understanding of the field of Marketing. We shall assume that all students have some basic understanding of the field of Marketing GRADES: Grades will be posted on Blackboard. Students who do not wish to have their grades posted in this manner must inform me in writing at least one week before the first test or assignment, and give their reason(s). CALENDAR COURSE DESCRIPTION AND COURSE OVERVIEW: The focus of this course is an examination of the role of personal (effective) persuasion in the business world. Students discuss techniques for selling themselves, their ideas and/or their goods and services to prospective employers or customers/clients. Classroom demonstrations and role-playing may be used. The course provides an examination of what it takes to be effective in our attempts to persuade others. 1 The primary setting is Business-to-Business (B2B) but we shall also be looking at examples in the Business-to- Consumer (B2C) field. Further, you will be able to use the content of this course to help you find that elusive first position and advance your career in the years to come. Also, the “Job Search Process” will be introduced. COURSE OBJECTIVES: 1. To examine the important foundation concepts and principles of effective persuasion to leverage sustainable and successful customer/client relationships. 2. To increase the students’ ability to demonstrate effective, powerful communication skills as they apply to the selling process through: observation, discussion, and practice. 3. To understand and practice the most effective steps in Business-to-Consumer (B2C) and Business-to- Business (B2B) relationship selling to achieve the required results. Successful strategies and techniques for selling tangible products (goods) and intangible products (services) will be discussed. Examples will be drawn from various industry sectors. 4. To develop a full understanding of, and proficiency in, “pricing math”. These “metrics” include: prices and discounts; mark-ups, margins, and profitability; return on investment (ROI); the difference between price and cost; break-even analysis (B/E); FOB points and prices; pricing - the law and ethical issues; etc. This material is on the student website. EVALUATION: Type of Assessment Group/Individual Percent/Weight Date Test 1, M/C, S/A, Essay Individual 25% (2.5 hours) Feb. 27 Group Project Group 25% Mar. 20 Individual Project Individual 20% Mar. 27 Final Exam, M/C, S/A, Essay Individual 30% (3 hours) Exam Period Students will receive the results of their first test before the final deadline for dropping courses without academic penalty. A wise man recently said: “asking is easier than earning”. What did he mean? Note: You must pass a combination of Test 1 and the Final Exam in order to pass the course. TOPICS – TENTATIVE SEQUENCE AND SCHEDULE Additional in-class activities may be added to this schedule and provided to you in separate handouts. Activities may include: watching DVDs, completing short in-class case studies, and going through some of the end-of-chapter questions. Week Date Topic Chapter Activities 1 Jan. 16 Ch. 1. Relationship selling 1 Review course opportunities in the outline. Discuss your information economy. expectations and mine. 2 Jan. 23 Ch. 2. Evolution of selling 2, 3 FORM GROUPS OF models that complement the THREE STUDENTS marketing concept. FOR THE MAJOR PROJECT. Ch. 3. Creating value with a relationship strategy. 3 Jan. 30 Ch. 4. Communication 4, 5 styles: a key to adaptive selling. Ch. 5. Ethics: the foundation for relationships in business. 2 4 Feb. 6 Marketing Metrics. Website Ch. 6. Creating product 6 solutions. 5 Feb. 13 Ch. 7. Product-selling 7,8 strategies that add value, Ch. 8. The buying process and buyer behaviour. 6 Feb. 20 READING WEEK. NO CLASS 7 Feb. 27 TEST 1. CHAPS. 1-8 M/C, S/A AND AND METRICS ESSAY, 25 %, 2.5 HOURS 8 Mar. 6 Ch. 9. Developing and 9,10 qualifying a prospect base. Ch. 10. Approaching the customer with adaptive selling. 9 Mar. 13 Ch. 11. Determining 11,12 customer needs with a consultative questioning strategy. Ch. 12. Creating value with the sales demonstration. 10 Mar. 20 Ch. 13. Negotiating buyer 13,14 GROUP PROJECT concerns. DUE, 25%. PEER EVALUATIONS Ch. 14. Adapting the close SUBMITTED and confirming the partnership. 11 Mar. 27 Ch. 15. Servicing the sale 15,16 INDIVIDUAL and building the partnership. PROJECT DUE, 20%. Ch. 16. Opportunity management: the key to greater sales productivity. 12 Apr. 3 Ch. 17. Management of the 17 sales force. 13 Apr. 10 Review of course content. The Job Search Process EXAM FINAL EXAM 1-17, AND M/C, S/A AND PERIOD METRICS ESSAY, 30 %, 3 HOURS TEST 1, 25% (2.5 HOURS) The term test may consist of 150 multiple-choice questions, essay, and short-answer questions. Some of the short-answer questions will be taken from the marketing metrics supplement. You will have to provide a basic calculator. No phones are permissible. The test will cover chapters 1-8 of the text, and marketing metrics. 3 GROUP PROJECT (25%): We’ll discuss this project further at a later date. You will be working in groups of three students for this project. The project consists of: 1. Selection of an appropriate sales organization. 2. Interviews with one or more sales persons. 3. Identification of 10 sales force effectiveness issues/problems 4. Analysis of the 10 issues/problems and providing in-depth recommendations for improvements/solutions. The first thing you have to do is to find a business in the B2C sector within the GTA. You can choose an organization that sells goods or services. Then, you will interview (primary research) one or more individuals who work in a sales function within the organization. During the interview you will be trying to identify 10 sales force effectiveness issues. You should identify an equal number of internal and external issues. For example: the organization may be facing increased competition; it may have high turnover in the sales department; it may be experiencing a decrease in sales as a result of the weak economy; its goods/services may be outdated, over-priced, of poor quality; sales training my be ineffective, and so on. You are looking for things that are having a negative impact on sales productivity and overall performance. Before conducting the interview(s), have a look through the text so you are knowledgeable on some of the issues surrounding the sales function within an organization and the challenges it faces. The problems you identify must occur within the sales force or stem from the sales department. For each issue/problem you identify, you will be recommending improvements/solutions in your project, by applying ideas and concepts from the text, class discussions and additional secondary research. In your project, you must identify the company, who you met with and when. You must also include their business cards. You must state each issue/problem, and then give your recommended improvement/solution and what benefits these will have on the sales force and organization. Make sure your recommended improvements/solutions add value to the organization. Quantify your solutions wherever possible, using the content of the Marketing Metrics section of the course. Do not just state solutions to the problems. ALL MEMBERS OF YOUR GROUP MUST ATTEND ALL INTERVIEWS. The project will be a maximum of 10 pages in length, one page for each issue/problem. The marking rubric will be distributed at a later date. INDIVIDUAL PROJECT – THE JOB SEARCH (20%) We’ll discuss this project further at a later date. This project will help you to prepare for the job search process as you near graduation. It will give you an opportunity to apply the course content in preparing to sell yourself to potential employers. You are an unproven resource, so this is an opportunity for you to develop your persuasion skills. After completing this project, you will be able to provide tangible proof of your value to a potential employer. I’ll provide you with a series of questions for which you will prepare answers. Questions may cover: what are your strengths and weaknesses? what are your main attributes? what benefits can you bring to an organization? why should we hire you? how can you demonstrate the value you would bring to our organization?; etc. FINAL EXAM, 30% (3 HOURS) The final exam may consist of 200 multiple-choice questions, essay, and short-answer questions. Some of the short-answer questions will be taken from the Marketing Metrics supplement. You will have to provide a basic calculator. No phones are permissible. The exam will cover chapters 1-17 of the text, and the Marketing Metrics supplement. 4 LEARNING GOALS, LEARNING OBJECTIVES, AND ASSURANCES OF LEARNING (Source: Art Pierce and Harvey McPhaden, MKT 504 Instructors, unmodified. To be reviewed and revised). Learning Goals Learning Objectives Assurances of Learning Core learning goals for all courses in the Performance to be Assessment (s) that Faculty of Business demonstrated in specific correspond to the terms learning objective. Communications: To examine and practice A graded evaluation is ▪ Expresses ideas (orally and in writing) the important foundation used and available to effectively, and conveys information concepts and principles of students for both their appropriately and accurately including effective persuasion to oral and written the use of the range of media that are maximize the success of assignments. Both widely used in business. client relations. evaluations are based on text-based models to ensure mastery is being measured against content that is being covered in the course. Analytical skills The objective of the project The experiential ▪ Relate and compare data from is to research and analyze component of the different sources, identifying issues, the problems of a business- project is the interview securing relevant information and to-business sales force. with a live sales identifying relationships. This primary data is organization to identify combined with secondary 3 – 4 sales force data to provide a complete effectiveness issues. analysis of the health of the In addition to this sales organization. primary research, students support with secondary research only from academic sources. Critical and reflective thinking To apply questioning and Models such as SPIN ▪ Identify assumptions, evaluate listening understanding (Situation, Problem, statements in terms of evidence, detect during a “live” customer Implication, and Need- false logic or reasoning, identify implicitinterview and replicate in payoff) and the 10 values, define terms adequately and class with their group Step Sales Process generalize appropriately. partner are used to measure mastery and to be objective in evaluating Problem solving To demonstrate how to Models and methods ▪ Identify, formulate and solve business apply text-based models, by are used from the problems using appropriate quantitative asking high gain questions course content to and qualitative skills including creating, to define problems and ensure students are evaluating and assessing a range of articulate solutions that learning and applying options, and having the capability to quantifies the business text-based content. apply ideas and knowledge to a range impact of the problem. of situations. Ethical and legal responsibility To understand the In-class case study ▪ Develop a personal philosophy about relationship between the discussions as it ethical issues and behaviour. buying and selling cycles impacts the “moral and to discuss and compass” of both the understand the sales buyer and seller person and customer 5 relationship Financial theories and analysis To quantify and articulate All problems are to be ▪ Understand basic
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